Top 10 Cryptocurrencies to Invest in 2024

For quite a long time, the crypto market has been in hibernation, in the sense that the majority of cryptocurrencies have not shown growth, only a loss of their value. However, winter will not last forever, and to be more precise, many analysts predict that the thaw will begin in 2023. This means that cryptocurrencies will begin to recover and eventually return to their previous peak prices, and some will rise to new highs. 

What does it mean for crypto investors? In short, opportunities. Buying the right coins before the start of the bull market will increase the chances of an investment going up. Therefore, now is the time to find out what are the best cryptocurrencies to invest in this year.

10 Best Cryptocurrencies to Buy in 2024

The fact that cryptocurrencies, with the right investment strategy, can bring considerable profits, is no secret to anyone. The difficulty is that there are a lot of coins – over 20000! They have different properties, performances and growth prospects. Therefore, in order not to make a wrong choice, you need to find the answer to the question: what are the top cryptocurrencies to invest in?

Further in the article, we will tell you which coins convinced us of their prospects, based on past price behavior and the technologies behind them. While it is tricky to forecast the future of volatile assets, we have done our best to anticipate likely future price behavior and the factors that are expected to affect their price performance.

Find out how much you can earn in the near or distant future by investing in top cryptocurrencies today.

1. Ethereum (ETH)

Ethereum tops our list of best cryptocurrencies to invest in 2023. Many would expect to see Bitcoin here, but no! It doesn’t always have to be in the spotlight. Ethereum, the first among altcoins, is one of the low-risk assets. It showed great resilience even during the biggest crypto market contractions and proved that the time for his new heights is yet to come.

One of the reasons to believe in a better future for Ethereum is the recent updates that have taken place in the network, improving its properties. So, for example, by moving from the PoW to PoS consensus mechanism, Ether has become more environmentally friendly, scalable, fast and cheap. Of course, these changes will attract more developers who want to build their decentralized products on the Ethereum blockchain. The demand for ETH tokens will also increase, which will affect the growth of their exchange rate.

Optimistic forecasts claim that Ethereum has every chance of returning to 2021 heights this year. In this case, purchasing the coin now can increase your capital by about 400% in the short term. And saving the coin for a long time will increase the value of your portfolio even more.

2. Bitcoin (BTC)

Bitcoin is in many ways the number one crypto asset and the main choice of crypto investors. It conducts the orchestra of digital currencies, and the well-being of other players in the crypto market depends on its well-being.

One of the main reasons for the depreciation of cryptocurrencies is that Bitcoin has lost approximately 70% of its 2021 value. It is like a huge planet, which, falling, will certainly pull other satellite planets with it.

As the crypto spring is approaching, BTC is sure to blossom. It is already showing signs of recovery as the price of the token is hovering around $23,000 (before that, it was in the $16,000 region for a long time).

So, what are the reasons to believe that the bitcoin rate will conquer new heights in 2025, according to analysts? As we noted earlier, Bitcoin sets the tone and rhythm of the entire crypto market. Therefore, the most obvious and simple argument is that the very first coin should skyrocket, because without it, the rest of the crypto assets will not skyrocket either. If this argument is not convincing, then it is worth remembering that bitcoin has excellent resilience and solid fundamentals, and has already recovered from crises more than once.

And finally, low maximum coin supply, halving 2024 and increased adaptability are the guarantors of Bitcoin growth. Crypto dreamers predict that in 2030 the value of one coin will be 1 million. Sounds crazy, but who knows!

3. ApeCoin (APE)

ApeCoin is a newcomer among mature serious players in the crypto market. The coin was launched in March 2022, when the crypto industry was going through one of the darkest periods of its existence. Despite this, APE has been able to attract many celebrities and influencers to its fanbase, which has formed a dedicated community of extraordinary personalities.

In a short period of time, ApeCoin has grown from a penny to $39 per coin. Despite the fact that APE is now trading in the region of $5 per coin, the crypto community is confident that the token is worth much more and should show a 1000% growth during 2023, reaching $50.

There are several reasons for such ApeCoin price forecasts, including a solid fan base and the likelihood of launching its own mainnet and other developments in the ecosystem.

4. Binance Coin (BNB)

Another candidate for your 2023 investment is Binance Coin. The coin has withstood the harsh cold of the crypto winter and its incredible performance in 2021, when its ICO price grew by more than 450000%, proves its ability to reach new heights.

In the success of any cryptocurrency, a lot depends on the team or company that stands behind it and actively works to improve it. In the case of Binance Coin, this is Binance, the largest crypto exchange. The company is moving towards lucrative brand partnerships and expanding the use of the BNB coin, which is now accepted for trading, payments, and even package bookings.

Binance is always committed to developing the ecosystem. The launch of the Binance Smart Chain (BSC) for smart contracts, which has become the third largest platform for DeFi projects, has increased the value of the BNB coin serving as fuel there. In addition, the burning of excess tokens, which Binance has committed to carry, also leads to an increase in the value of BNB.

5. Cardano (ADA)

Cardano, like the rest of the cryptocurrency market, has dropped significantly in price after the unexpected collapse of the FTX crypto exchange. The token closed the 2022 trading year at $0.24, down 33%. Since the beginning of 2023, ADA token prices have started correcting upwards and many analysts expect this rally to go on.

The Relative Strength Index (RSI) of the coin was 73.29 and the Money Flow Index (MFI) was 76.29. The gradual spike in these numbers showed that the ADA has increased its accumulation since the beginning of the trading year. Similarly, the On Balance Volume (OBV) indicator was in an uptrend at 43.517 billion, up 5% YTD.

When an asset’s OBV increases, it indicates that the buying pressure is greater than the selling pressure. It also means that more volume is associated with higher prices, which indicates that buyers are more aggressive than sellers and that the price of the asset is likely to continue to rise.

The upgrades that have taken place with the Cardano network in September 2021, including the launch of smart contracts and the creation of tokens, may also contribute to the growth of ADA.

6. Ripple (XRP)

XRP and Ripple are two different entities in which Ripple operates as a payment network and XRP as a digital asset. However, both platforms are interdependent. In other words, the market price of the XRP coin is inextricably linked to the Ripple network.

Ripple and XRP is used by many international financial institutions and banks worldwide. Since its inception, the Ripple network has been integrated into the payment systems of 300 well-known banks in 40 countries. Ripple allows individuals and banks to exchange assets internationally. The exchange is carried out using the Swift system. This allows financial institutions and banks to open separate accounts in different countries where they want to operate.

Ripple has some amazing projects, including Xcurrent and Xrapid, which offer financial institutions and banks efficient solutions for international payments. This distinguishes Ripple from other cryptocurrencies, because XRP is used in the world more actively than any other crypto. 

But this is not the only reason why many crypto experts are predicting a rise in value for the token in 2023. Now the company is in a legal battle with the SEC (Securities and Exchange Commission), and if Ripple wins, which is very likely, the value of such a useful crypto asset will skyrocket.

7. Solana (SOL)

SOL is a native token for a rapidly growing smart contract platform, making it one of the promising crypto assets to buy in 2023. One of the advantages of Solana is the new type of blockchain it was built on, as well as the innovative Proof of History (PoH) consensus, which allows the network to provide a throughput of 710,000 operations per second.

Solana supports smart contracts in JavaScript and Solidity programming languages, which allows it to integrate new crypto technologies such as DeFi, dApps, games, NFTs and more into its blockchain.

SOL coin growth from 2020 to 2021 was 2955%, with an all-time high of $260.06. During the crypto winter, its price dropped by the bottom of 85%, to about $8 – $9 per coin. Since the beginning of 2023, we have been seeing a dynamic growth of the token and, most likely, in the near future it will be able to return its former exchange rate achievements. This means that if you buy SOL today, you can look forward to a possible 850%+ increase in the value of your investment when it eventually returns that ATH.

Solana’s growth potential has been labeled as optimal by respected analysts. This is facilitated by the increase in the project’s share in the DeFi, NFT and smart contracts market, the constant development and new integrations into the Solana ecosystem, and the past and current price behavior of the SOL token.

8. Polygon (MATIC)

Polygon is a project aimed at creating and developing an ecosystem that would make it easy to connect several different scaling solutions. Polygon’s layered and unique architecture allows other projects and startups looking to scale to use the best solution, which, due to its flexibility, can be customized to their needs.

The excellent flexibility of the solutions offered by Polygon attracts new partners and network users to the project. For example, recently Mastercard announced at the Consumer Electronics Show that it will use the Polygon blockchain to launch its Mastercard Artist Accelerator. And Coca-Cola, Reddit and Starbucks are using the power of technology offered by Polygon to launch their NFT projects.

All this, of course, will affect the price of the MATIC utility token, which is now extremely undervalued. For a long time, the value of the coin did not exceed $1, while its all-time high was $2.92 in 2021. However, an uptrend is already being observed. And analysts argue that factors such as the recovery of the crypto market, the demand for solutions offered by Polygon and, accordingly, for the MATIC token, will contribute to the growth of its value.

By the end of 2023, MATIC tokens are expected to recover their ATH, which was set in December 2021. This means that investors who buy tokens today will be able to increase the value of their MATIC investment by 400% or more.

9. Shiba Inu (SHIB)

The Shiba Inu is one of the most sought after and cutest coins in the crypto industry. But do not be deceived by the comic and meme image of this project, which actually has a fairly advanced technological basis.

The Shiba Inu team is currently developing their own metaverse called “SHIB: The Metaverse”. All shiba inu coins such as SHIB, LEASH, BONE will participate in the metaverse economy. The stablecoin will also be added to the ecosystem to pay out various rewards.

The increase in the use of the SHIB coin due to the launch of the metaverse may have a positive impact on the growth in the number of transactions, which in the future may provoke an increase in the value of the coin.

The launch of an NFT game called Shib Eternity was also announced. According to the developers, the income generated from player transactions in the app will be partly used to burn SHIB and LEASH coins. Active burning of coins can also lead to a strong increase in the price of these tokens by reducing the supply and increasing applicability.

10. Decentraland (MANA)

Decentraland is the largest Ethereum-based virtual world with MANA as an internal currency. The universe is decentralized and belongs to its users — that is, all decisions are made by collective voting through smart contracts, those who own virtual land vote. Among those interested in virtual real estate are well-known big-name companies such as Samsung, JPMorgan, Starbucks, Adidas and Coca-Cola.

In November 2022, MANA jumped to $5.9, while in January of the same year it cost only $0.08. Therefore, those who bought MANA at a low price increased their investment by 7275.00%. But even now, it’s probably not too late to invest in this crypto: the universe will develop further, which means there is a chance to make money on it.

How to Invest in the Best Cryptocurrencies in 2024

Cryptocurrencies are an extremely dynamic sector. The list of the best cryptocurrencies to invest in 2023 can lose its relevance very quickly, so before buying any coin, you need to research the prospects of such a deal yourself, based on fresh and reliable data. Below are some of the main actions that you should always take when building a portfolio with certain coins.

1. Assess The Coin’s Prospects

Market capitalization is an important element that can indicate the liquidity of an asset. The larger the value, the safer to buy such a coin. High capitalization indicates acceptance by the masses and large funds, and this can indicate massive demand.

The second point is acceptance rate. Assets that take part in real transactions inspire confidence and the likelihood of making profits from coin projects is many times higher. Many of the cryptocurrencies described are already beginning to be used in lending, insurance, investment industries, and other business activities. The major attraction of blockchain developments is the security and anonymity that people can get. The purchase of assets moving in this direction will be a good investment for 2023.

2. Assess The Risks

There are more than 20,000 cryptocurrencies on the market, the list is updated daily with new coins, among which there are also fundamental projects. It is best for beginners in this field to buy coins of low and medium risk, although experience shows that the biggest profit is brought by high-risk tokens.

3. Take Care Of Protecting Your Investments

Cryptocurrencies are unregulated and volatile, that is, no one can protect users from hackers and scammers. This means that it is up to you to protect your investment. For savings, especially for the long term, it is recommended to use hardware wallets with highly effective security measures and other tools.

4. Pick a Good Crypto Exchange

To start trading or investing in cryptocurrencies, you need to choose a crypto exchange. The main thing is not to make a mistake, so as not to incur financial losses, and to enjoy the investment journey. The best crypto exchanges for investment and trading in 2023 will be discussed further in the next section of the article.

5. Diversify investments and storage options

Money should never be invested in one asset, even the most promising and reliable one. Be sure to choose several options for diversification, with a preliminary and in-depth study of the project. It is better to keep most of the assets on separate wallets – this is important in case of cyber attacks and other hacking activities.

Where Can You Buy Promising Cryptocurrency?

The best way to buy up-and-coming crypto assets for investment is to use proven crypto exchanges. Let’s find out how to choose a good exchange and get to know their best representatives.

How to Find a Place to Buy Crypto in 2024

When choosing an exchange for buying coins, pay attention to its size. Its reliability directly depends on the size of the exchange: the larger the exchange in terms of trading volume, the more users trade on it, the more stable it is.

By visiting the website of the crypto exchange you are interested in, find out if it provides the opportunity to trade the coins you are interested in. Also, make sure that the service does not impose limits on trading volume or withdrawals that could restrain your crypto activities. 

You can read reviews from real users, from which you can learn about commissions and hidden fees, if any. Compare exchange rates for the coin you are interested in and choose the most profitable one.

Best Crypto Exchanges

You can find a crypto exchange yourself using the tips above, or you can make it easier for yourself by choosing one of the following exchanges we recommend:

Godex.io – Boundless and Anonymous

Godex has become the number one choice for many traders and investors for its anonymity and ease of use. Due to the lack of a long and complicated registration procedure, which is often present on other crypto exchanges, the service is perfect for novice investors. And those who trade in large volumes choose Godex for the absence of limitations on trading volumes and withdrawals.

Binance – With a Huge Range of Coins and Low Fees

Binance is the largest crypto exchange with the widest selection of various cryptocurrencies from stablecoins to NFT tokens. In addition, the exchange offers competitive fees and has no exchange thresholds, so if you want to buy one dollar worth of crypto, you can do it there. Among other things, Binance offers its customers free digital wallets for storing cryptocurrencies and asset insurance.

Coinbase – Beginner-friendly

Coinbase is considered one of the most user friendly exchanges for investing in crypto. The intuitive interface will allow even beginners to quickly and seamlessly invest in the desired crypto. Coinbase also boasts a good range of cryptocurrencies and trading pairs, including our best coins to invest in 2023.

Which coins should you refrain from buying for now?

There are more than 20,000 cryptocurrencies in the world, among which there are many fraudulent products and simply those that do not have sufficient grounds and prospects for development. Therefore, it is easier to say which crypto you can invest in now. However, there are a number of factors that point to the riskiness of investing in some sort of crypto.

Lack of potential utility and competitive advantage. If the coin has no practical value, that is, it cannot be used either in the real or in the virtual world, most likely after the hype subsides, the crypto community will realize that it is useless, and such an asset will depreciate. In addition, the coin must have some advantages or distinctive features that distinguish it from its competitors, otherwise it will not survive.

Bad reputation of the project developers. If the people behind the crypto project are involved in some kind of scandal or have shown unprofessional behavior, and have not kept their promises, there is reason to be wary. This usually leads to a collapse of the course, and often even becomes a verdict for the future of the crypto coin.

Young age. If a crypto project has just been launched, then it is very difficult to predict its fate. Especially in the current situation, when the crypto market has not yet recovered. Of course, it can “shoot” and multiply its value many times over, but it is no less likely that the coin will simply sink into oblivion. Therefore, for long-term investments in 2023, you need crypto assets that have proven their resilience, for example, those that survived the crypto winter and showed the first signs of recovery.

Lack of an active community. Value is determined by people. The more people believe in the success of a particular crypto, the more likely it is to happen. Conversely, the lack of a strong fan base of the asset does not contribute to its high growth in the future.

Poor market performance. Indicators such as market capitalization, trading volume, and price behavior can tell a lot about an asset’s prospects. Investing in small-cap cryptocurrencies is very risky and often unjustified. And the meager trading volume indicates that users are not very interested in this token.

Not listed on popular exchanges. If serious and reputable crypto exchanges refuse to deal with a particular coin, it is worth asking the question “why”. At the same time, when a token appears on a crypto exchange like Binance, trust in such an asset begins to grow, as does its price.

If you notice one of the signs above in the crypto you are interested in, it is better to think twice before buying it. On the other hand, investing in crypto is largely a matter of luck, and even the most seemingly unperspective coin can succeed under the influence of factors that are difficult to predict.

Conclusion

2023 promises to be a great year to invest in the right cryptocurrencies. This can be seen from the fact that the ice has already begun to melt and the crypto market is slowly recovering. 

Not all the coins on our list will definitely skyrocket during the course of the year. Some may need more time, and some, due to factors beyond our control, which cannot be foreseen, may not recover at all. This is the nature of digital currency. Now a coin may look promising, but in the moment everything can change. However, crypto investing is considered to be one of the most lucrative ways of passive income. Therefore, before buying any asset, do your own research by analyzing real-time data. And let 2023 be the year of the right decisions that will bring you profit, not losses!

FAQ

What Is The Next Cryptocurrency To Explode In 2024?

Basically, any cryptocurrency that has survived the crypto winter has every chance of success in 2023. It’s hard to say which one will explode, but it’s safe to say that Ethereum and Bitcoin are the best choices for long-term investments. They have proven their sustainability, usefulness and reliability of the technologies used in their blockchains over time.

Is Bitcoin a good investment in 2024?

Yes, Bitcoin is still one of the best coins to invest in. It has already begun to recover and show an uptrend, so everyone expects it to soar to new heights soon. Therefore, if you still do not have BTC in your portfolio, it is better to enter earlier, while its price has risen a lot.

What is the best cryptos to invest in the short term?

Meme coins like Shiba Inu and Ape Coin are considered good short-term investment options, as their value often skyrocketed on enthusiasm and hype. However, such assets are considered high risk. Therefore, such assets are best bought by experienced investors who know when to get rid of them, before the hype subsides, and with it the value.

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.