This guide tracks the best potential crypto coins and explains why some investors see value in them.
Keep in mind there is no guaranteed way to pick the best crypto to buy right now – instead, use this as general information to help make your own investment decisions.
No one knows what the cryptocurrency market will do next. The best crypto to buy will depend on what you're looking for.
Short-term investments are hard to pick. In addition to price data, consider using social media sentiment analysis and news to contextualise what price movements might mean and make an educated decision.
Keep in mind that most big run-ups in price are usually followed by a correction where the price comes back down after reaching a peak. So it is up to you to implement a strategy that allows you to exit with a profit before the market turns.
If you're investing over the long term, then you may want to consider "blue-chips" like Bitcoin (BTC) and Ethereum (ETH) which have a relatively well-tested track record. These coins have been adopted by financial institutions around the world and have utility beyond speculative investing.
The top 10 best cryptocurrencies are filled with several of these potential long-term investments. Let's take a closer look at them and understand why they are a part of so many investment portfolios. Doing so may help you understand what qualities to look for in other crypto assets, and help you make better investment decisions.
Below, we outline our top picks for the best crypto to buy right now in 2024:
Ethereum – Second most popular crypto in the market and the top choice for Web3 builders and developers.
Bitcoin – The world's first and most popular crypto, described as 'digital gold'.
Cardano – Ethereum competitor and super-fast and scalable blockchain with a growing dApp and NFT marketplace, and much lower entry point than many other top 10 cryptos.
IOTA – Payment Protocol that does not actually use blockchain technology but seeks to create the Internet of Things, validating transactions through an algorithm called Tangle.
Polkadot – Another Ethereum rival and unique interoperability protocol that allows for rapid data exchange and transactions as well as offering a super-fast solution for developers and builders.
Maker – The DeFi protocol behind the Dai stablecoin
Arbitrum – The leading Ethereum layer 2
Solana – A high-performance smart contracts platform
BNB – A popular cryptocurrency utilized in the Binance ecosystem
Uniswap – A project with multiple Ethereum scalability solutions
Cosmos – The leading decentralized storage project
Shiba Inu – A meme coin on the Ethereum blockchain
Mina Protocol – An extremely lightweight blockchain
The Sandbox – Metaverse and Gaming Digital Asset Monetization Platform
XRP – Cryptocurrency with fast and low-cost transfers
· Virtual currencies are highly volatile. Your capital is at risk.
· Best Cryptos to Buy Right Now
· Let's start off by highlighting three cryptocurrency projects that have seen important developments recently, or have big events coming up in the near future. We update these highlighted coins on a weekly basis to reflect the latest developments in the world of crypto and blockchain.
Ethereum needs no introduction, as the blockchain network has become the go-to for decentralized application (dApp) developers worldwide. Ethereum's network provides the foundation for these apps, thanks to its smart contract functionality.
These smart contracts remove the middleman from certain transactions, making the process entirely decentralized. Considering Ethereum's use cases and massive rallies it's done, it definitely is one of the hottest cryptocurrency to buy right now.
Although Ethereum's GAS fees have been criticized for months, the recent release of 'Ethereum 2.0' has helped matters. This upgrade – Ethereum Merge – occurred in late 2022 and saw Ethereum move to a 'Proof-of-Stake' protocol.
Unique presale perks, daily passive staking income, and lavish rewards amplify its attractiveness. The recent announcement of a 40% bonus promotion code "Easter40" and the strategic LBank listing propelled Scorpion Casino into a league of its own. These milestones, coupled with endorsements from celebrities and influencers, underscore its potential for crypto investors seeking exponential returns.
This significantly increased the scalability of its blockchain and reduced fees. Due to this upgrade, we could see more people than ever opt to buy Ethereum over the coming months
Ethereum is the favorite blockchain for decentralized app (dApp) developers because of its scalability, speed and ease of development, as well as its large user base.
There are hundreds of protocols built on the blockchain and its TVL is almost five times that of its nearest rival – in other words, there are plenty of reasons to look at Ethereum as one of the best crypto to buy now.
Like Bitcoin, Ethereum has also experienced tremendous growth since its inception. Between 2017 and 2021, the price of Ethereum went from around $11 to an all-time high of about $4,800 – translating to gains of more than 43,000% which made it one of the best altcoins to invest in. However, due to the wider market crash, the value of Ethereum plunged to around $1,000 by the end of 2022.
But since the beginning of 2024, the price of this cryptocurrency is showing great resilience. As of writing, Ethereum is trading at around $1,800. On top of its market performance, there are other factors that make Ethereum the top cryptocurrency to invest in – particularly in the long term. Ethereum is also constantly making improvements to secure its future.
Ethereum shifted to a proof-of-stake mechanism in 2022, which helped the blockchain reduce its carbon footprint significantly, while the recent Shanghai upgrade allowed staked ETH to be withdrawn for the first time.
Although many analysts predicted it would flood the market and drive down prices, withdrawals and deposits have been at a similar level keeping Ethereum stable.
However, there have been continued criticisms leveled at Ethereum over its high network fees and relatively slow transaction speeds, with other networks capable of far better performance.
eToro is one of the best crypto exchanges that offers access to ETH with low fees and copy trading tools.
Virtual currencies are highly volatile. Your capital is at risk.
Created in 2009, Bitcoin is the original and, undeniably, the most popular cryptocurrency. Over the years, Bitcoin has become a household name and has attained widespread mainstream adoption. Bitcoin has also managed to sustain its top rank as the cryptocurrency with the largest market cap.
Back in 2016, it was possible to buy a single Bitcoin for around $500. Although Bitcoin remains volatile, it has gone on to generate unprecedented gains. For instance, in late 2021, Bitcoin was trading at just over $68,000.
On the flip side, in 2022, Bitcoin lost more than 70% of its market value. And now, as of writing, Bitcoin is trading in the $27,000 region.
Many argue that at current levels Bitcoin is heavily undervalued, with investment bank Standard Chartered recently releasing a report to say BTC is on course for $100,000 by the end of 2024.
Today, Bitcoin is accepted as an online payment system by many online merchants and the cryptocurrency can also be used as collateral to take out loans, to play at crypto casinos, and can be locked away to gain annual interest.
Considering the many utilities as well as the reputation of this digital token, which is described as 'digital gold' and a hedge against inflation, it is clear why Bitcoin continues to be a top choice as the best cryptocurrency to invest in 2024.
There's no doubt that Bitcoin lacks the utility of newer coins – but that doesn't mean it has no future value.
Out of all the digital currencies that comprise the crypto market, BTC is the one that has been adopted quickest by the legacy financial markets. The growing number of Bitcoin ETFs and derivatives products evidences this.
Moreover, a report from Deloitte found that over 2,300 US businesses accepted BTC as payment in late 2020 – and this number has undoubtedly grown since then. Due to its pervasiveness and reliability, Bitcoin remains a top cryptocurrency to invest in over the long term.
Virtual currencies are highly volatile. Your capital is at risk.
Cardano is a cryptocurrency that aims to compete with Ethereum in the smart contract market. This is because Cardano is touted to be more scalable and easier to use for developers. Cardano achieves this by using two layers of technology – one for transferring value and another for tracking balances of the ledger
The Cardano blockchain is powered by ADA, its native digital token. Since it supports smart contracts, Cardano is also widely used for creating decentralized applications. Cardano's focus on security and decentralization makes it hugely attractive for developers for many years to come.
In other words, Cardano continues to be one of the best crypto investments in the market today. On top of this, Cardano transactions are also cheap and fast. As such, it could be favored by online merchants as a payment option in the future.
Cardano has many other interesting elements that might make it an appealing option for investors. For instance, Cardano completed an upgrade in September 2022 – which further improved its scalability. Moreover, it has also launched its own stablecoin, which can help Cardano become a more important player in the DeFi space as one of the best DeFi coins to invest in.
Virtual currencies are highly volatile. Your capital is at risk.
IOTA is a digital token that some investors view to be the best cryptocurrency to buy now. This digital currency is designed to become a key player in facilitating payments in the IoT (Internet-of-Things) world. The main aspect that sets IOTA apart from other cryptocurrencies is that it doesn't actually use blockchain technology.
Instead, this project validates transactions using a decentralized acyclic graph consensus algorithm called 'Tangle'. This way, IOTA has managed to improve upon some of the limitations of traditional blockchain networks. For instance, IOTA transactions do not need to seek approval to create new blocks, validate transfers, or vote on proposals.
And due to these attributes, IOTA transactions can be carried out in seconds. Moreover, IOTA also facilitates fee-free transactions. Therefore, scaling doesn't have any adverse effect on the network.
Investors in the belief that the mainstream adoption of IoT is imminent might view IOTA as one of the top coins to buy now. Moreover, due to the crypto winter, IOTA tokens are available at a cheap entry price when compared to their all-time high in 2018.
The last digital token on our list is Polkadot. This digital token was founded in 2016 and is designed to connect different blockchains together. This unique interoperability protocol allows for data exchange as well as transactions without compromising security.
Using Polkadot, developers can also create their own blockchains. Another exciting aspect of this cryptocurrency is its partnerships. For instance, Polkadot is already paired with Chainlink to use its Oracle network. It is also working with Ankr StakeFi, thus allowing investors to stake their DOT tokens and generate passive income
Although Polkadot benefited from the crypto bull market in 2021, its value plunged in 2022, in line with most digital assets. As of writing, DOT tokens are trading at around $6.18. Many argue that this represents a bargain, considering the long-term potential of this project.
Virtual currencies are highly volatile. Your capital is at risk.
Maker is a decentralized finance protocol on the Ethereum blockchain that issues and manages Dai, a decentralized stablecoin pegged to the US dollar. Users that hold assets which are supported as collateral (for example ETH) can lock their coins into Maker's smart contracts in order to issue Dai.
The system is overcollateralized—in order to mint Dai, users need to provide collateral that exceeds the value of the minted Dai, and users are required to monitor the value of their collateral in order to avoid liquidation.
The MKR token is used as the governance token for the MakerDAO, a decentralized autonomous organization that oversees the Maker protocol.
MakerDAO was founded in 2014 by Rune Christensen, and the Dai stablecoin was launched in late 2017. Initially, the Maker protocol only supported ETH as collateral. With the launch of Multi-Collateral Dai in 2019, it also became possible to use other forms of collateral. Today, Dai is backed by a diverse range of assets, including ETH, (wrapped) BTC, USDC, USDP, and many others.
There have been a number of interesting developments related to Maker lately. Most notably, the MakerDAO has approved an increase of the DSR (Dai Savings Rate) from 1% to 3.49%. This will be the new rate that DAI holders are able to earn directly from the Maker protocol.
The increase in the DSR is expected to have a widespread impact on the DeFi ecosystem. For example, it will likely make leverage more expensive to access.
The market appears to be favoring MakerDAO's move, as the token has seen a +13.7% price increase in the last 7 days, making it one of the best performers in the cryptocurrency top 100.
In addition to the increased Dai Savings Rate, MakerDAO has made notable moves when it comes to the composition of assets backing the Dai stablecoin. Through governance, MakerDAO has decided to remove the Paxos Dollar (USDP) stablecoin from its reserve, and significantly lower the amount of the Gemini Dollar (GUSD) stablecoin in the reserve.
Virtual currencies are highly volatile. Your capital is at risk.
Arbitrum is a layer 2 platform for Ethereum that's based on optimistic rollups technology. The goal of the Arbitrum platform is to give users access to faster and cheaper transactions while relying on the security of the Ethereum network.
The Arbitrum mainnet launched in August 2022 and quickly became one of the most popular layer 2 solutions for Ethereum. The platform's efficient transactions have allowed it to support unique decentralized applications, perhaps most notably the GMX decentralized derivatives exchange. In addition, many protocols that made a name for themselves on Ethereum, for example Uniswap, Aave and SushiSwap, are now also deployed on Arbitrum.
Despite being a relatively recent entrant on the cryptocurrency scene, the Arbitrum platform has become one of the biggest blockchains in terms of the TVL (total value locked) in its DeFi ecosystem.
Arbitrum has been one of the most interesting projects to follow lately, and the layer 2 platform's hot streak doesn't appear to be ending any time soon.
The Graph is a blockchain data indexing and querying protocol that plays a key role in Ethereum's decentralized application ecosystem. The protocol has started the final phase of its migration to the Arbitrum layer 2 with the aim of improving scalability. The migration was approved through a governance proposal.
The Graph's transition to Arbitrum will proceed gradually, according to a press release from the Arbitrum Foundation and the Graph Foundation:
"Beginning today, protocol users will be presented with an option to transition to Arbitrum across The Graph's suite of products. Protocol rewards will continue to gradually shift from Ethereum to Arbitrum, and over time, will transition entirely to Arbitrum."
In addition to The Graph's move to Arbitrum, another interesting development related to Arbitrum is the announcement of Xai, a layer 3 blockchain built on top of Arbitrum. Xai uses the Arbitrum Orbit tech stack to create a blockchain platform specialized for gaming applications.
Virtual currencies are highly volatile. Your capital is at risk.
Doge Uprising surges as a formidable player in the crypto market with its vibrant community and meme-centric appeal. Emphasizing fun yet lucrative investment opportunities, Doge Uprising capitalizes on its viral potential to engage investors. The platform's strategy encompasses user engagement through social media and community events, fostering a sense of unity and shared purpose. The allure of Doge Uprising lies in its ability to merge entertainment with financial growth, presenting a unique proposition for crypto enthusiasts.
The quest for the next big crypto investment leads to a diverse landscape of opportunities, each with its distinct charm. Doge Uprising captures the zeitgeist with its community-driven approach and meme-based engagement. Mollars offers a comprehensive crypto ecosystem with a governance model that empowers its users.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.