A cryptocurrency is a digital asset that uses cryptography to secure transactions. It is not centralized by an authority such as a bank or government, but uses a decentralized system for transactions, guaranteed by blockchain technology
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To date, there have been 24,630 cryptocurrency projects on the market, with an estimate of reaching $4.94 billion by 2030.
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Why Do People Love Investing in Cryptocurrencies?
Cryptocurrencies can help you earn more money and represent the future of finance.
Financial security is guaranteed by cryptographic methods, making cryptocurrencies impossible to print or seize, thus providing a secure store of value. Here’s a list of the best cryptocurrencies to invest in in 2024.
Bitcoin (BTC)
Bitcoin is the first digital currency created in 2009 by an individual or group under the pseudonym Satoshi Nakamoto. It runs on a computer network called blockchain, which records all transactions made with Bitcoin. Currently, Bitcoin’s market capitalization is $1.3 trillion and has seen an increase of 136% compared to the previous
year.
Bitcoin’s Extraordinary Growth
In May 2016, the price of a Bitcoin was around $500, while in April 2024 it rose to around $64,427, representing an increase of 12,785%.
Tether (USDT)
Tether is a stablecoin, meaning that it is tied to traditional currencies such as US dollars or euros. While other cryptocurrencies like Bitcoin fluctuate in value, Tether tries to keep the same value of the coin it’s tied to, such as $1. This makes it a less risky investment and a recommended cryptocurrency for 2024
.
Ethereum (ETH)
Ethereum is a digital currency like Bitcoin, but it is also a platform that allows you to build smart contracts, i.e. digital agreements that are executed automatically when certain conditions occur. Ethereum has also created NFTs (non-fungible tokens), which are unique digital collectibles. The price of Ethereum rose from $11 to around $3,158, an increase of more
than 28,000%.
Solana (SUN)
Solana is a cryptocurrency that supports decentralized finance (DeFi), using proof-of-stake and proof-of-history methods to process transactions quickly and securely. Since its launch in 2020, the price of a SOL token has risen from $0.77 to around $148.30 in April 2024,
an increase of 19,159 percent.
Binance Coin (BNB)
Binance Coin is a digital currency used on the Binance platform for cryptocurrency trading, but also for paying commissions and booking trips. In 2017, a BNB cost 10 cents; in April 2024, its price rose to around $613, offering huge profits for those who bought it at the beginning
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U.S. Dollar Coin (USDC)
USDC is a stablecoin pegged to the US dollar, allowing transactions without worries about changes in value. USDC runs on the Ethereum platform and can be used to buy goods or send money around the world with the speed and security of blockchain technology
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XRP (Ripple)
XRP is a digital currency used on the Ripple network to facilitate the exchange of different currencies and cryptocurrencies. In 2017, XRP was very low in value; in April 2024, it rose to around 53 cents, an
increase of 8.676%.
Dogecoin (DOGE)
Dogecoin is a cryptocurrency created as a joke in 2013 but became popular for its fun logo and the community that supports it. In 2017, a Dogecoin was worth a fraction of a cent; in April 2024, its price rose by 75,904%, to about 15
cents for a Dogecoin.
Cardano (ADA)
Cardano is a cryptocurrency that uses proof-of-stake to verify transactions, similar to Ethereum. The price of ADA rose from 2 cents in 2017 to about 47 cents in April 2024, an
increase of 2,266%.
Toncoin (TON)
Toncoin, originally called Gram, was created for the messaging app Telegram but was later adopted by the TON Foundation. Toncoin allows fast and secure transactions, with a 141% increase in value over the last year, reaching a market capitalization of around $18.9 billion
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These cryptocurrencies represent some of the best investment opportunities for 2024, thanks to their high return on investment (ROI). It’s crucial to always do thorough research before investing
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