Top 5 Cryptocurrencies to Invest in 2024
If you’re investing in cryptocurrencies, whether for the first time or as a seasoned investor, it would be best to know which would produce the highest ROI, right? Because the sheer volume of coins launched after Bitcoin is enormous.
But we’ve done the hard work for you, compiling the top 5 for you in one single read.
You’ll find established and pricey household names, as well as cheap ones with massive potential.
Regardless of your investment appetite, these are the top 5 cryptocurrencies to invest in 2024.
1. Bitcoin
When the anonymous Satoshi Nakamoto launched Bitcoin in 2009, it was a joke to a majority of investors. Today, it has become the coin of reference in the world of cryptocurrency. For context, your initial investment would have increased by 13,644% in 2024 if you bought some Bitcoin in 2016. And, no, Bitcoin is showing no signs of slowing down yet.
Between January and December 2023, Bitcoin’s value rose by 133%. Now, in March 2024, 1 BTC sells for around $68,719, and investors are speculating that its value is still bound to increase. The recent approvals of 11 spot Bitcoin ETFs by the US SEC and upcoming halving events are some of the factors driving up this demand.
So, although Bitcoin has already smashed its previous all-time high price record, there are still indications that it is still rising, making 2024 a good time to invest.
2. Green Bitcoin
While Bitcoin might be the most popular cryptocurrency, it’s not the only coin with high return potential. More so, investing in it in 2024 is obviously pricey.
As crypto expert, Ben Beddow says, “cryptocurrencies are available in a wide range of prices, from tens of thousands of dollars for one Bitcoin, to meme coins that are worth less than a penny each.” If you’re dipping your feet into crypto waters for the first time, it makes sense to start with a cheap cryptocurrency that has serious potential for massive upsides—“the next Bitcoin,” if you like.
Green Bitcoin is one of such. It is a new ERC-20 token that combines Bitcoin’s pioneering legacy with Ethereum’s eco-friendliness — the best of both worlds. The coin’s appeal lies majorly in its “Gamified Green Staking” model. This crypto jargon simply means that it is built on Ethereum’s environmentally-focused mining technology, so it uses Ethereum’s Proof of Stake consensus mining mechanism as opposed to Bitcoin’s Proof of Work technique. As a result, its mining process requires less computational energy, hence the “Green.”
But efficiency isn’t the only thing great about this coin. Being native to Ethereum, Green Bitcoin has smart contract capabilities that open it up to many use cases.
Many investors have clocked this and are already bulking up in these early stages. 2024 is a great time for you, too. It is currently at the pre-sale stage, and each token sells for $0.4329
3. Solana
Widely touted as the “next Ethereum,” Solana’s recent price movements since late 2023 and early 2024 show clear signs that the coin will make a valid investment. Since it launched in 2020, its price has increased by 17.79% from $0.77 to $137.81 in March 2024.
Its appeal lies in the fact that it facilitates lightning-fast transactions by combining both Proof of Stake (PoS) and Proof of History (PoH) mechanisms. Consequently, it has wide applications for DeFi applications and NFT projects. Evidently, the Solana Blockchain accounted for more NFT sales than the Ethereum blockchain in 2023. Its remarkable speed and scalability have provided a high-performance infrastructure for NFT projects and DeFi applications, and this efficiency is very crucial to its demand.
Solana will always be in demand, and that’s why it is a top cryptocurrency to invest in 2024. It is currently shadowing Bitcoin’s 2024 bull run and offers significant potential for success as the year unfolds.
4. Ethereum
Like Bitcoin, Ethereum has become a household name in the cryptocurrency industry. Apart from investor-triggered demands, Ethereum has numerous potential applications because it is both a crypto coin and a blockchain platform. As we have seen with Green Bitcoin, many other cryptocurrencies have been nestled on Ethereum’s blockchain, thus indicating that it may never go out of demand.
Due to its security and mature ecosystem, many developers depend on Ethereum’s smart contract functionality to create decentralized applications with numerous real-world use cases. With a current market cap of $459.28 billion, one Ethereum costs $3,823.51, up from $1563.81 a year ago.
5. XRP
Last on this list is another cheap cryptocurrency from Ripple Labs, with immense real-world applications in banking and huge potential for price increases in the coming years. It is currently ranked as the sixth cryptocurrency by market capitalization.
Ripple Labs created this coin to transform global cross-border payments, and it’s already being adopted by some of the biggest global financial institutions. Unfortunately for XRP, the company behind XRP has been plagued by legal upheavals that have expectedly crippled its value. However, fortunately for investors, they will put those behind them in 2024, and investors might pick more interest in the coin again, resulting in multifold increases for anyone who invests in them now.
However, any investor needs to maintain financial responsibility before investing in any of these cryptocurrencies. As a standard practice, it is advisable only to invest 5 – 10% of your total portfolio or any amount you’re comfortable losing, as the crypto market is highly volatile and unpredictable.
