Promising cryptocurrencies to buy in 2024

As Bitcoin has recently entered a bull stage and reached a six month peak of $11,203.90, or a gain of 13% in a single day, traders and investors also became optimistic about other cryptocurrencies in the market. Bitcoin growth has inflamed a new wave of interest in its underlying technology and reestablished investors’ confidence in both short-term and long-term cryptocurrency perspectives after a rough period of COVID-19 related economic decay and regulatory uncertainty. 

After a series of bullish events, the interest in finding promising cryptocurrencies to invest in is constantly growing. This article will describe the best up-and-coming cryptocurrencies that have a great investment potential and the next cryptocurrencies to explode in 2020-2021. 

The idea behind cryptocurrencies is quite straightforward: to leverage innovative technologies with a goal to eliminate the role of intermediaries in financial operations and make the whole process more transparent and less costly. For the first time people got an opportunity to override banks and gain control over their finances and investments as well as protect their identities if necessary. Blockchain makes financial operations more secure by offering a decentralised solution which is accessible to anyone.  

Bitcoin

Bitcoin does not need additional introductions. It is a community-based currency, which proved the concept that money can be traded or exchanged online without third parties. The third Bitcoin halving, which occured in May, played an important role in the strengthening of the cryptocurrency industry in 2020. The event, which happens every four years, has stimulated the community of miners and traders and become an important milestone in Bitcoin’s history. Halving has demonstrated that the cryptocurrency industry, headed by Bitcoin, keeps developing and progressing which is an important positive indicator for investors. Thus, the trend is bullish and many experts predict even greater growth in 2021. 

ZCash

Security and privacy have always been the top priorities when looking for cryptocurrencies to invest. The best cryptocurrencies to invest in have always focused on transactions security which enables traders to anonymously trade their crypto funds. The quantity and quality of privacy coins is constantly growing. Investing in privacy coins in always a good idea, especially after the market has confirmed their relevance and great potential for growth. 

Launched in 2016 by Zooko Wilcox-O’Hearn, ZCash is a privacy cryptocurrency which puts a great emphasis on providing even greater transparency and full anonymity. This coin is based on zk-SNARKs, or Zerocoin algorithm, which ensures that all executed transactions are 100% fair, transparent, unambiguous and credible. The network is kept secure and does not expose names of investors, passwords or funds involved. Information on transactions is encrypted without the need to disclose spend-parties. Moreover, users can utilize zk-SNARKs technology to guarantee that the operation was open and fair. 

As clarity and confidentiality of transactions and other related operations became important features in the cryptocurrency industry, privacy altcoins are expected to outperform in 2020-2021. Considering the recent ZCash improvements, including anonymous mobile transactions, the coin has a great potential for growth and development. 

Ripple

Ripple has been actively discussed by stakeholders and traders since it became increasingly popular and outspoken in 2017, when the crypto industry was on the rise. The network offers innovative decentralised solutions for financial sector and has a potential to transform a traditional understanding of money and finance. Despite the fact that technology of blockchain was initially developed for improving decentralization and immutability, Ripple Labs introduced an alternative understanding of blockchain and its potential. The Ripple platform prioritizes the development of projects for financial industry and banking. Ripple is often criticized for being a centralised coin. At the same time,  centralised cryptocurrencies have a great potential to change traditional ways of transferring the future of money. 

In financial sector, blockchains are often used to organize established infrastructures and simplify post-trade settlements. Some projects claim that their main goal is to eliminate  the role of intermediaries, such as Visa or MasterCard, when performing bank transfers or other financial operations. For example, Ripple strives to become a universal payment service by linking banks, payment platforms, financial organizations and cryptocurrency exchanges to enable fast, on-demand settlement.

In 2020-2021, Ripple will continue growing and establishing itself as an important player in the financial sector. With more strategic partnerships coming up, investors are turning their heads towards Ripple and its future growth in price and value.

Monero 

Monero puts a great emphasis on inconspicuousness and transparency as its main characteristics. This proming coin offers an original and advanced form of cryptography to guarantee that the absolute number of successful operations are kept undetectable and unlinkable. Improved blockchain technology, advanced encryption algorithm and unlimited XMR supply has turned this cryptocurrency into an influential and well-known platform with a prosperous future and positive investment prospects for 2020-2021. Monero stealth address tool is a significant advancement compared to other cryptocurrencies’ privacy settings. Instead of revealing the “real address”, Monero asks yu to provide your “post office box”, which makes it hard to monitor your operations and link it to a specific user. Thus, rather than requiring and storing users’ real address,which can be easily exposed to illicit tracking and monitoring, the Monero network only stores randomly generated one-time addresses. 

Since its early development, Monero has managed to become one of the most strong, authoritative and trustworthy altcoins in the industry. Because of its innovative features, thought-through ecosystem, user-friendly architecture, and a great public interest, Monero is expected to grow in the upcoming years. 

Basic Attention Token

First introduced in 2017 by its CEO Brendan Eich, who is a founding partner of several global corporations, such as open-source browsers, Basic Attention Token in an innovative platform which supports decentralised advertisement services and designed on top of Ethereum ecosystem. This promising cryptocurrency strives to eliminate fraud and uncertainty in the publishing and advertising industry. The BAT network also aims to introduce accurate pricing and transparent communication within the system. Client’s behavior is monitored with the help of the Brave browser, and those who post content get a equivalent reward in the BAT tokens. The BAT project strives to build a decentralised system that will not allow interested parties to illegally trace your presence on the Web. If one decides to see advertisement, they will be compensated with BAT and see only those ads that are formed from their activity at the browser level. As a result, users are motivated to watch advertisements with a financial benefit in the form of BAT token.

With a great business model and straightforward compensating mechanism, Basic Attention Token is definitely included in the most promising coins to invest in 2021. 

Chainlink

Founded by Sergey Nazarov, Chainlink is a decentralised oracle network that strives to effectively connect smart contracts with the real world. Taking into account that blockchain technology is not designed to process any kind of external information, innovative oracles are necessary to operate as data providers in smart contracts. Chainlink offers external data that stimulates the enactment of a smart contract if other additional conditions were fulfilled. Chainlink users are incentivized with LINK token remunerations to help smart contracts to extract useful external information or submit necessary data to the network. 

Since the beginning of the year, Chainlink has increased in price by 85% from $2.08 in January to $3.90 in June 2020. In 2019, investors have also seen a 460% return which makes Chainlink one of the best performing altcoins in the cryptocurrency market. LINK price predictions are increasingly positive for the foreseeable period of time so Chainlink should definitely be considered for your investment portfolio. 

DxChain Token 

DxChain Token is a platform which combines a great variety of cutting edge technologies, including neural networks, blockchain and machine learning. Platform’s native token DX plays an important role in the development and maintaining the DxChain ecosystem. DxChain Token users can use this decentralised platform as an exchange mechanism. At the same time, the platform also allows its users to process important data in order to support business operations. Unlike other well-established platforms, in which the financial rewards are used to motivate miners to maintain a significant amount of computation, the DxChain Network gives miners enticement based on the functionality of the network.

This ambitious platform is designed to offer effective blockchain based solutions to resolve issues like privacy, storage and data computation. As data concerns are on the rise in 2020, investors are more than interested in the DxChain project and its solutions. Thus, the DX price is predicted to grow and outperform in 2020-2021. 

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.