Top 5 Cryptocurrencies To Invest In 2024
Finding a profitable cryptocurrency in 2024 is certainly a daunting task. A study showed that more than 9,000 cryptocurrencies existed on the market in 2023. It’ll be a hectic task to track all the available coins and find beneficial ones for yourself.
Crypto is an unpredictable firm. You’ll never know what the market will look like tomorrow. We’ve analyzed the top cryptocurrencies to shed some light on the crypto market and picked out the best coins for you.
Here are the 5 promising cryptocurrencies to invest in 2024.
1- Bitcoin (BTC)
Bitcoin is an ancient and well-known coin in the crypto market that introduced the concept of blockchain. BTC was launched in 2009, and its value is touching the sky nowadays in 2024. A study showed that the Bitcoin price reached the highest worth of all time, over 73000 USD, in March 2024.
BTC is a decentralized digital currency that can be sent anywhere, anytime in the whole world. Bitcoin transactions are secure and can not be blocked by any mediators.
Investing in Bitcoin is the best option for long-term holding with constant growth. BTC is a more stable coin as compared to new cryptocurrencies. You may encounter a drawback in BTC: it takes excessive time and electricity to complete transactions.
2-Ethereum (ETH)
Ethereum is the gigantic cryptocurrency after Bitcoin, known for DApp development. ETH was created in 2015 and became the favorite altcoin of every developer. Ethereum price was raised to 3840.26 USD in May 2024, which is more than 2022 but less than 2021 value of ETH.
Ethereum is different from Bitcoin as it operates smart contracts that are responsible for the inception of NFTs. You can build, trade, and program NFTs through smart contracts in various manners.
ETH is the most recognized blockchain network in DeFi and DApp for developers. The constant development and rise in the value of Ethereum attract more innovators to connect. ETH transaction fees can be higher than the value of the trade.
3- Solana (SOL)
Solana was established in 2020 and has made mind-blowing growth till today in the crypto world. The current price of Solana coin in May 2024 is 168.65 USD. SOL operates smart contracts, DApps, DeFi, and NFTs, just like ETH.
The Proof of History and Proof of Stake verification techniques make Solana a remarkable and better option than Ethereum. Various crypto gurus considered Solana an “Ethereum challenger” coin due to its 65000 per second transaction speed.
Solana is one of the speediest blockchains in the crypto market. It is the finest choice for smart contracts due to excellent performance. Solana possesses lower transaction costs than other crypto coins. So, you can consider investing in SOL in 2024.
4- Binance Coin (BNB)
Binance coin was introduced in 2017, and it has become the most promising coin for paying exchange fees. It is the official cryptocurrency of Binance and is considered 4th largest cryptocurrency.
In May 2024, the BNB coin was worth 601.21 USD per coin, which is higher than its value in 2021. You can utilize BNB for trading, payment processing, and trip arrangements. Binance coins can also be exchanged for other cryptocurrencies anytime.
Purchasing BNB will give you advantages in the Binance Exchange Platform. It provides you with high-quality services without charging much fees. A drawback that I found in BNB is that ot is bound to Binance, whose success is limited to only a few regions.
5- Ripple (XRP)
Another cryptocurrency you may invest in in 2024 is Ripple. XRP is the 7th largest cryptocurrency known for the quickest yet affordable international money transfers. Ripple (XRP) price was 0.53 USD in May 2024.
XRP completes transactions and solves payment concerns in seconds rather than spending days or hours. It is also considered an alternative to SWIFT (Society for Worldwide Interbank Financial Telecommunications).
XRP gives you easy access to international banking. Hence, if you’re struggling with international payments, you must invest in Ripple in 2024.
Final Verdict
To conclude, cryptocurrency is an unpredictable market. The coin's worth can either shoot to the stars or fall badly. You have gone through all the beneficial coins estimated to boost in 2024. Now, the choice is all yours.
You can also suggest other cryptocurrencies to invest in the comment section.
