Cryptocurrencies are trending worldwide and many big shots are talking about virtual digital currencies as they have had a great impact on the financial ecosystem. Reports say many youngsters and business-class people are showing keen interest in various cryptocurrencies to invest and make profits. One can acquire these crypto-assets in the trading platforms like Binance, Coinbase, and Wazirx. We can see significant growth on these types of platforms too. The crypto market is expected to surge in the next few years.
Experts in the crypto community revealed in a survey that many investors, startups, and other individuals prefer investing in profit-yielding cryptocurrency businesses. This is because crypto has huge market potential and can recover from its volatility.
Many crypto investors are looking forward to 2024 as there is much positive news regarding cryptocurrencies. On the flip side, more than 100 cryptocurrencies are being introduced in the market with different names every day. So, there is a common query raised among investors on which are the best cryptocurrencies to invest in 2024.
In this blog, we have mentioned the best crypto to invest in 2024 and gain profits in the long run.
But before seeing that list, we would like to give you a quick overview of cryptos.
What are Cryptocurrencies?
Cryptocurrency is a virtual digital currency that can be used in crypto exchange platforms for multiple purposes. You can use them for trading, payments, fundraising, and other purposes in a hassle-free manner. The first-ever invented and launched cryptocurrency is Bitcoin which runs on powerful blockchain technology and also made people believe blockchain is not a myth. This cryptocurrency was termed Bitcoin and all cryptos other than Bitcoin are termed altcoins.
The word ‘crypto’ in cryptocurrency refers to cryptography that allows the creation of altcoins or tokens for the transaction in decentralized peer-to-peer ecosystems. It is primarily designed to be free from government interruption and manipulation.
Cryptocurrencies play a vital role in all blockchain use cases such as crypto wallets, DeFi, NFTs, crypto exchanges, crypto payment gateway, crypto crowdfunding platforms as well as the metaverse. Many organizations, companies, and industries have started accepting some popular crypto as their payments. This made many people invest in virtual crypto assets from diverse exchange platforms.
Why Should You Invest in Cryptocurrencies?
As you know, Cryptocurrencies are highly volatile and their prices keep going up and down. Therefore, a trader has the probability of selling back the Crypto asset for a much higher price and making an immense profit. Apart from trading, Exchanges have extensive features that can be helpful to traders in the longer run.
Secondly, the future is moving towards digital currencies, and hence, investing in Cryptocurrencies could be a wise move. Since Cryptos run on blockchain technology, the security system is unlikely to be hacked. With the demand for Cryptos, a lot of budding entrepreneurs have started their Crypto-based businesses and have generated huge money already.
Best Cryptocurrencies to Invest in 2024
As per the current crypto market, more than 15,000 cryptocurrencies are in existence. Yeah! In numbers, it’s huge. However, only a few have the potential to make investors rich in 2024. There will always be uncontrolled excitement before investing in any crypto. If you are one among them, then calm yourself. We have done some research and in-depth analysis to give you a list of the best Cryptocurrencies to invest in 2024.
- Bitcoin
- Ethereum
- Binance Coin
- Cardano
- Polygon
- Bitcoin Cash
- Litecoin
- EOS
- NEO
Bitcoin – Godfather of Crypto
Bitcoin is our first choice when it comes to crypto investment. Bitcoin is the most eminent crypto coin in the world with a market capitalization of $799 billion. As I already mentioned, bitcoin is the first virtual digital currency developed using blockchain technology. Bitcoin is shortly mentioned as BTC and it came into the crypto market in January 2009 with a reward of 50BTC. This fantastic digital currency was created by someone using the pseudonym Satoshi Nakamoto.
The price of BTC has skyrocketed recently as many countries, as well as industries, have started accepting payments in bitcoin. So, there is no doubt that until the existence of bitcoin in the online market, it will be at the top position. Even though the altcoin market falls, bitcoin will have stable growth in all the trading markets. At the beginning stage of bitcoin, the price of one BTC was below $1 and only a few people used BTC for trading at that time. But now the current price equals more than $21k. Experts are predicting that it might reach $100k in 2024.
After the Bitcoin halving which happened in May 2020, there is a huge price fluctuation in the BTC. It is a third bitcoin halving with 6.25 BTC rewards. Already two halvings are covered with the rewards of 25BTC & 12.5BTC. These BTC halves created great impacts on bitcoin prices. The crypto community expects the third bitcoin halving will also create a new historical peak in the crypto marketplace. Thus, if you are investing in bitcoin now, you might get hefty returns in upcoming years. Though many cryptocurrencies have arrived, Bitcoin is still regarded among the best Crypto to invest in 2024.
Ethereum – An Evolutionary Crypto
According to our research, Ethereum is the second crypto in which you can invest your valuable money. After the huge success of bitcoin, Ethereum was invented by using a borrowed blockchain network of bitcoin. Vitalik Buterin is the founder of Ethereum and he is one of the cryptocurrency experts in the blockchain industry. In terms of market capitalization ($343 billion), Ethereum is the second most popular cryptocurrency in the global marketplace.
The price of Ethereum is less volatile when compared to bitcoin. So you can easily buy/sell Ethereum on any crypto trading platform. Ethereum is shortly known as ETH in the marketplace. As we know, there is a separate blockchain, so by using Ethereum, one can create a smart contract for their blockchain business. It is also an open-source blockchain network, so developers can create Ethereum-based crypto tokens, NFTs, DeFi platforms, and decentralized applications.
The total supply of Ethereum is more when compared to bitcoin. Like Bitcoin, Ethereum also had massive growth from 2016 to the present 2023. This is because of expectations in Ethereum 2.0 and it would happen in 2022. So there will be a big pump in ETH price in any quarter of 2023. Currently, the price of ETH is more than $1,500 and it will surge in the upcoming days. If you have interest or faith in its potential, then you can invest your money in Ethereum in 2024.
Binance Coin – Best Crypto in the Market
The name itself suggests it’s a digital currency developed by the leading crypto exchange – Binance. It acts as a crypto token in the Binance exchange and is created by using a powerful Binance smart chain. This crypto can be utilized to pay fees at a low cost for trading and other services in Binance. It is shortly known as BNB in the digital currency marketplace. All Crypto enthusiasts know that Binance is the world’s biggest exchange platform in terms of trading volume. Therefore, this Binance coin also has high volume and liquidity in the marketplace.
Since 2017, many burn events have happened for Binance coin and investors believe that the price of BNB might go to the moon. The price of the Binance coin has been volatile for the past few years. On the other hand, we can see both pumps and dumps in a single day. Thus the volatility remains high in the Binance coin. When you hold the BNB then your trading fees will be less in Binance. Currently, the price of the Binance coin equals more than $288 and it might vary in the future.
Cardano – Finest Altcoin in the Crypto Town
Cardano is one of the great open-source blockchain networks and has an excellent architecture with the latest smart contracts. Cardano is highly notable for its proof-of-stake validation. Cardano also functions like Ethereum to enable dapps and smart contracts. Cardano was first launched in 2015 and aims to become a home for large-scale financial applications. It is a decentralized peer-to-peer blockchain system and its native cryptocurrency is named ADA. It works fast and has easier development tools. Also, it has a two-layer of technology. Such as tracking the balances on the ledger and Transferring values.
Cardano also relies on technology people. They are connected with companies to offer courses for programming languages that are used within the Cardano network. The price of ADA is $0.31. Cardano has many business plans and excellent roadmaps. So, if you are planning for a lower investment and to reap more profits soon, then you can prefer and invest in ADA.
Polygon – A Hidden Gem
Polygon is one of the popular blockchains and we can also say it is a hidden gem in the crypto market. This is because it has many upcoming projects which give faith to the investors. Besides this, they predict that polygon aka MATIC (the native currency of polygon) will reach its new all-time high before December 2022. Polygon is also a part of Decentralization. So it performs all financial transactions without the need of banks or any other centralized organizations. Most investors & crypto enthusiasts see MATIC as a major benefit and they are super excited about its potential.
Investors of MATIC pointed out that the cryptocurrency is now surpassing both Bitcoin and Ethereum in terms of its price appreciation. The latest positive news and enthusiasm for MATIC has led the price to pump more than 9000% year-to-date to $1.04 (current price of MATIC while writing this article). Investing in MATIC now will give you a good amount of returns in the future. Going by the predictions, Matic is speculated to be one of the best Cryptos to invest in 2024.
Bitcoin Cash
Bitcoin is a well-known digital currency among investors in the crypto industry. This crypto coin was first launched in 2017 and quickly reached investors who are interested in making profits in this field. This decentralized electronic cash system was introduced as a scalable branch of the original Bitcoin. Now, it is one of the world’s largest cryptocurrencies by market cap with a worth of more than $6 billion.
The current price of bitcoin cash equals $116.83 in the market. However, the predictions for the price of Bitcoin Cash will vary. Experts in the crypto field have predicted that it will pump more than $500 within a few years. Thus, 2024 will be an ideal time to add Bitcoin Cash to your exchange portfolio.
Litecoin
Litecoin is the first alternative to bitcoin and it was entirely developed by the bitcoin blockchain in 2011. This crypto coin has a fast processing time and makes it ideal for payments. It is far similar to bitcoin so it remains the decentralized digital currency. Litecoin was first developed by Charlie Lee and he is a well-experienced computer scientist & a cryptocurrency enthusiast. Litecoin has high liquidity and the price is less volatile in the smaller crypto markets.
The total supply of Litecoin is more than 84 million. But bitcoin has a supply of only 21 million coins. Litecoin is shortly known as LTC in the crypto space. The current price of a single litecoin is equal to more than $100. In the future, the price of a single LTC may reach more than $500.
EOS
EOS is a new digital currency that was first launched in June 2018. Like Ethereum, it is also a great smart contract platform where developers can create secured decentralized software and applications. EOS consists of EOS.io and it acts as an operating system in the computer. Apart from this, it acts as a secure blockchain network for its native cryptocurrency – EOS.
The Current value of one EOS is more than $1.1. But some surveys say that it may touch $15 at the end of 2022. This made many businesses, investors, and startups invest money in EOS.
NEO
NEO is one of the well-known cryptos and it was first launched in 2014. Like Ethereum, this crypto also acts as a smart contract and helps developers to develop and deploy decentralized blockchain applications. Also, it is more centralized compared to the Ethereum blockchain.
You can easily trade NEO on any crypto trading platform because it is available on many exchanges. It also has high liquidity and the price is volatile in the markets. So your investment will be stable and you can earn more profits. More than 200 million NEO cryptocurrencies are in existence and it is separately distributed for different usages. The current price of NEO is more than $10 and when the demand increases, the price will be automatically increased.
Conclusion
We hope you have got some ideas on the best crypto to invest in 2024. However, there are several cryptocurrencies available in the crypto market. But we just mentioned the 10 best cryptocurrencies to invest your valuable money in 2024. Note – we are not financial advisors. Do your market research before investing in any cryptocurrency. Besides, kindly check the volume, price, and liquidity of the particular crypto in the marketplace that you are gonna invest in.