Bitcoin is the most well-known cryptocurrency, but there are a wide range of alternative digital currencies, known as altcoins, that offer different functionality and significant appreciation potential.
Altcoins tend to show greater volatility than Bitcoin, allowing for significant price movements that can lead to attractive returns for investors.
While altcoins can move in tandem with Bitcoin, their prices are also affected by various token-specific factors.
In this article, we’ll present the 19 best altcoins to invest in in 2024 and explain everything investors need to know about buying altcoins.
Our Selection of the Best Altcoins
Here’s our list of the 19 best altcoins to invest in in 2024:
1. Dogeverse (DOGEVERSE)
Dogeverse is a multi-chain meme coin that raised over $300k in the first 24 hours of presale. This altcoin stands out for its ability to operate on different blockchains, including Ethereum, Binance Smart Chain, Polygon, Avalanche, Solana,
and Base.
2. Sealana (SEAL)
Sealana is a new Solana-based meme cryptocurrency that surpassed $1.2M in its presale. Sealana’s mascot is a lazy, patriotic seal, inspired by the South Park character ‘World of Warcraft Guy’
.
3. WienerAI (WAI)
WienerAI is an AI-powered meme cryptocurrency, offering an advanced AI trading bot. This altcoin raised over $1.9M in its pre-sale and offers a 741% staking APY
.
4. Mega Dice Token (DICE)
Mega Dice Token is a cryptocurrency linked to the world of online gambling, which offers daily rewards and has raised $2.25M through an airdrop. This token has been purchased for a value of 15.5M since the launch of the presale
.
5.99 Bitcoins (99 BTC)
99Bitcoins is an educational cryptocurrency platform that rewards users for learning. The platform launched the $99BTC token to encourage users to engage in educational materials
.
6. 5th Scape (5SCAPE)
5th Scape is a Web3 ecosystem that integrates blockchain, VR and AR technologies. The project has raised more than $5.9 million and uses the $5SCAPE token for transactions within the platform
.
7. Sponge V2 (SPONGEV2
)
Sponge V2 is a transition token with lifetime passive rewards. The project offers a play-to-earn game and has seen a 100x surge in its starting
price.
8. Smog (SMOG
)
Smog is a new meme coin on Solana that involves an airdrop of 490 million tokens. It’s designed to be the ‘most rewarding meme coin’ on Solana.
9. eTukTuk (TUK)
eTukTuk aims to improve sustainability in urban transport in developing countries. The $TUK token is used for electric charging payments and offers high staking rewards
.
10. Mollars (MOLLARS
)
Mollars is a truly decentralized cryptocurrency project with no founder ownership. It uses the $MOLLARS token for economic transactions and is integrated with Web3
.
11. Ripple (XRP
)
Ripple is a payment token that recently won a lawsuit against the SEC. This has increased its potential for adoption by banks for low-cost international transactions.
12. Chainlink (LINK)
Chainlink provides off-chain data to on-chain smart contracts. It is used by many dApps on Ethereum and other blockchains such as Solana and Cardano
.
13. Dogecoin (DOGE)
Dogecoin is the first meme coin with a significant market capitalization and utility for payments. It is relatively cheap compared to its all-time highs, offering growth potential
.
14. Solana (SUN)
Solana is an ultra-fast blockchain with a large network of DeFi developers and dApps. Although it has fallen from its all-time high, it has great growth potential
.
15. Aave (AAVE)
Aave is an automated, decentralized DeFi platform for cryptocurrency lending. It is completely owned by the community and has more than $7 billion in cash locked
.
16. BNB (BNB)
BNB is the native token of Binance, the world’s largest cryptocurrency exchange. It offers discounts on trading fees and early access to ICOs.
17. Ethereum (ETH)
Ethereum is the largest altcoin by market capitalization and a pioneer of smart contract technology. It has significant growth potential, especially with the possible approval of a spot ETH ETF
.
18. MakerDAO (MKR)
MakerDAO is a community DeFi platform that issues $DAI stablecoin loans. It is backed by US treasuries, Bitcoin and other real assets, offering stability
and confidence.
19. Decentraland (MANA)
Decentraland is one of the largest blockchain-based metaverse projects. Despite the drop from its all-time high, it has great potential with new VR and AI technologies.
What Are Altcoins?
Altcoins are all cryptocurrencies other than Bitcoin. They offer a wide range of features and can be classified into different categories such as meme coin, DeFi, stablecoin, governance token, and metaverse coin
.
Why Invest in Altcoins?
1. Growth Potential
Altcoins offer greater growth potential than Bitcoin due to their greater volatility.
2. Diversification
Investing in altcoins allows you to diversify your crypto portfolio, reducing the risk associated with individual cryptocurrencies.
3. Staking Rewards
Many altcoins offer staking rewards, allowing investors to earn passively.
4. Specific Utility
Many altcoins offer specific utilities such as discounts on trading fees, access to exclusive features, and participation in project governance.
Where to Buy Altcoin?
Investors can buy altcoins through centralized exchanges such as Coinbase, Binance, Kraken, and Gemini. In addition, altcoins can be purchased on decentralized exchanges and through cryptocurrency presales
.
Risks of Investing in Altcoin
1. High Volatility
Altcoins are highly volatile, which can lead to significant gains but also to losses.
2. Truffles and Rug Pull
Investors need to watch out for scams, especially with new altcoins. It’s important to do your due diligence before investing.
3. Impacts of Regulations
Regulations can significantly affect the cryptocurrency market. It’s important to stay up to date on new laws and regulations.
Altcoins offer a wide range of investment opportunities with high growth potential. However, it’s crucial to do thorough research and manage the associated risks carefully. With the right preparation, investing in altcoins can be a valuable part of your financial strategy
.