“Cryptocurrency” has gained wide popularity in recent times with its rising application. Investors from all over the world are always looking for the best cryptocurrencies to invest in. And there are multiple options in the market. However, you should know that you cannot blindly invest in any stock, and it requires a thorough analysis of multiple things.
Seeing the market conditions and the swarm of doubts rendering in the air, I decided to come up with this blog post, where, I will discuss the Top 10 Cryptocurrency You Should Buy 2024. So, join me on this journey and save yourself from making the wrong investments. Today, I will highlight a few important things that you should know about “Stocks” and “Investing.”
Cryptocurrency– meaning and definition
If you have just come across the word “cryptocurrency” you might wonder what it actually means. While Google can give you a definite meaning of the word, it can lack explanation. So, I have got your back! Let us start by understanding the meaning of the word “Cryptocurrency.”
In a nutshell, Cryptocurrency, or crypto, is a kind of digital currency that exists online or, say, virtually. It uses a certain mode of technology, called Blockchain technology, which works on cryptography to secure transactions.
Unlike the “note-currency” or “money,” cryptocurrency is not issued by a central authority or has a regulatory assembly, rather, it uses a decentralized system to record transactions and issue new units.
Let us discuss what is cryptocurrency in detail:-
What is Cryptocurrency?
To simplify the difficult definition, I would like to compile Cryptocurrency as a form of digital payment system that does not require banks to verify transactions. Rather, it is a system between two bodies that can enable anyone to receive/send payments anywhere. For example, UPI transactions. Here, you can send money digitally through the Blockchain technology.
This has eased the payment process, giving people more than one method to fulfill their remittance. Cryptocurrency is entirely based on digital mode, so no one has to carry “physical money” in their hands. While the physical exchange of money has been in the real world from the start of time, Cryptocurrency has become evolutionary in recent years.
One thing you should know about Cryptocurrency is that it lives purely as digital numbers in an online database representing certain transactions. When one makes an online payment, they are transferring crypto funds, and the record of the payment is stored in a public ledger. Digital wallets are used, where these crypto-funds are stored.
However, many people may think that “online” transaction is not a safe mode of payment due to online fraud, and hacking. But you should know that cryptocurrency is a derived name for encryption to verify transactions. This indicates that advanced coding is used to store and transfer cryptocurrency data from wallets and to public ledgers, making third-party intervention impossible. This is done to improve public security and provide a safe payment bridge.
Everything you need to know about Cryptocurrency
What I have covered till now are the basics. Cryptocurrency has more to it, and I am well ready to enlighten you with everything of my knowledge. So, let us start by learning a few things about Cryptocurrency.
The very first thing you should know is that cryptocurrency operates independently. While I have discussed it above, it is an important fact you should remember without proceeding further. There are no banks or central authorities involved, and new units of “currencies” can only be added after specific conditions are met.
Take the example of Bitcoin. In this case, the miner will only receive bitcoins following their addition to the blockchain. You should be aware that there is no other method for creating fresh bitcoins than this.
Note: There is a 21 million coin limit on Bitcoins; once this is reached, no more will be created.
Bitcoin: The First Ever Cryptocurrency
Guys, you will be surprised to know that Bitcoin was the first cryptocurrency. Satoshi Nakamoto founded Bitcoin in 2009, and to date, it remains the best-known and most popular form of cryptocurrency. The main attraction of cryptocurrencies is trading for financial gain, with gamblers occasionally sending prices very high through the roof.
I know, by now, you must think, What is Bitcoin? I do not want to keep you hanging with any information, so I decided to come up with a brief introduction to Bitcoin and then I will move ahead to Top 10 Cryptocurrency You Should Buy 2024.
Bitcoin: Features And What You Should Know
Now that you know that ‘Bitcoin’ is a form of cryptocurrency, it is obvious that it operates independently through the digital mode without any interference or intermediaries such as banks or any central regulating system. This mode of “free currency movement” is known as a decentralized system.
Imagine this “decentralized system” as a huge shared spreadsheet, or blockchain, where everyone knows exactly whose Bitcoin is theirs. By eliminating the need for middlemen like banks and utilizing end-to-end encryption, this method guarantees the security and transparency of transactions.
From what we’ve discussed thus far, I think you should be aware of the features of Bitcoin. Put another way, make an effort to picture digital cash. As a result, you would understand things more readily. Digital currency may move freely around the world and is not regulated by banks. Given this, it is important to comprehend the following aspects of Bitcoin before investing in 2024:
You must have a thorough understanding of this. Bitcoin is the king of cryptocurrencies. It is uncontrollable and travels freely around the world.
This makes it safe and transparent, akin to a large, publicly accessible ledger.
- Another cutting-edge aspect of Bitcoin is mining, in which miners utilize computer technology to solve challenging equations and collect rewards. This process is crucial to the cryptocurrency industry because it assures Bitcoin earnings, upholds network stability, and verifies transactions.
- You should be aware that there is a finite amount of Bitcoin—21 million—which is among the most significant facts to know about the cryptocurrency. In contrast to dollars, they are rare and precious due to their limited availability.
Top 10 Cryptocurrency You Should Buy 2024
The most compulsory portion of this blog post is about to begin. I chose to wait until the very end so that I could give you a brief introduction to cryptocurrency for your understanding before providing you with the most recent facts. I’m going to list the top ten cryptocurrencies that will be available for purchase in 2024. I am aware that you are seeking for terms to make things easier for you, and these are them:-
Bitcoin is the top cryptocurrency on my list of the best ten to purchase in 2024. Its restricted added value, scarcity, and, of course, popularity make it one of the most enduring and powerful digital currencies. The current Bitcoin price is $45,363.39 USD, with a 24-hour trading volume of $25,925,393,879 USD.
Based on my observations, individuals have consistently made Bitcoin investments for a variety of reasons. The safe store of value is the main justification I should give, along with the fact that it is widely accepted as a reserve currency in practically every nation. By using a proof-of-work consensus technique, it raises the bar for the Bitcoin market by ensuring robust network protection and transaction verification.
- After rising 157% in 2023, Bitcoin is predicted to soar in 2024 due to applications for spot Bitcoin ETFs, anticipated interest rate reductions, and the upcoming cutting.
- Though there’s always a chance the price will drop, it seems like a good time to buy Bitcoin, with prices predicted to reach as high as $100k.
- The market may open at $30,225, possibly increasing to $51,438 in 2024.
- The projected low and high for 2025 are $39,512 and $62,723, respectively. By 2024, the average cost will be about $40,000.
- By 2025, the average price should be close to $49,000.
- Ethereum is, in my opinion, the second-largest cryptocurrency after Bitcoin. Its vast network distinguishes it from rivals by offering an adaptable platform for smart contracts and decentralized transactions. Its innovative layer-2 solutions, scalability, security, and sustainability all influence people’s decision to purchase it. Ethereum might be something to consider if you are putting Bitcoin aside.
- Ethereum’s value is currently less than it was earlier. It is estimated to be down 4.44% from its April 16th, 2023 high of $2,141.30. For Ethereum, the remainder of 2023 was unchanged.
- However, for 2024 and 2025, respectively, the market price is anticipated to reach roughly $2,403.46 and $2,523.64.
- It’s possible that the average price of Ethereum will rise by 1.65% in 2024 to $2,381.79 by January 03, 2024.
Solana stands in the third position on my list. I generally recommend people purchase Solana because of its speed, scalability, and cost-effectiveness on any blockchain stage. It facilitates decentralized apps and smart contracts, ensuring high bandwidth and, of course, security. This encourages the creation of mass-market and dynamic NFTs in addition to other uses.
Solana–Updates and Roadmaps
There are not one but many updates and enhancements in Solana’s roadmap. For me, it is one of the best cryptocurrencies right now, which may see a huge hike in the future. Some of the well-known upgrades of this include:-
- Token 22
Token-22 is one of the recent updates of Solana that will the creation of new applications using the platform. With this, you can you can secure loyalties, payments, and ownership transfers.
The next updated feature is the anchor. It is a kind of project through which developers can create new smart contracts with its “Rust” programming language.
- Upgrades on Solana Core
The new upgrade on the Solana Core is focused on making its network more secure. However, the developers are still working to make it improved, while increasing the speed of the network operation. This also includes brand upgraded consensus algorithm.
- Integration with different platforms
- Currently, Solana is halfway to integrating with other platforms such as Ethereum and Polygon for transactions.
- The latest forecast suggests that Solana’s price will hit $1000 by the end of 2024 and then $1200 by the middle of 2027.
- With time, it will increase to $2000 by 2029, $2700 by 2030, $3000 by 2031, $5000 by 2032, $6000 by 2033, $7000 by 2034, and $9000 by 2035.
Cardona is another form of cryptocurrency that you can buy in 2024. I am suggesting you buy Cardano based on history and of course, personal experience. For me, I must say Cardano served as a great blockchain platform that prioritizes functionality and scalability. You can use it for a number of purposes, some of which are securing identity, governance, and decentralized finance (DeFi).
- It is a good cryptocurrency for beginners. The price value of the currency remained quite low in 2023. With a high of $0.90, a low of $0.32, and an average of $0.55.
- The end of 2023 faced a hike in the value with about $0.669 during the last months.
- However, you can expect to see a price range of $0.559489 and $3.09 next year.
- I think investing in Cardano (ADA), can be a great start as it recently gained a high after experiencing a hike of over 150% in 2023, reaching $0.67 for the second time.
The next on my list is Polkadot. It is a virtual network, of course, being a cryptocurrency makes it obvious. It is compatible and allows for easy data and value exchange over a blockchain network. I think you can purchase it to promote your cooperation. And yes, cross-chain communication between Ethereum, Bitcoin, and Zcash is also possible with Polkadot. It used various scaling options, including rollups, parachains, and bridges.
- The current Polkadot price is $8.70 USD with a 24-hour trading volume of $311605572.23 USD.
- It touched the mark of $53 on 4 November 2023 that is its highest price.
- For now, it has a $6.8 billion market cap, as revealed by the various price forecasts. It was estimated that it would reach about $5.95 by the end of 2023; however, it exceeded that by reaching $8.70 USD.
- My estimation for 2025 DOT price predicts an average price of $33.65.
Many people must have heard about ‘Avalanche’ more than any other in this list. Of course, I know it cannot compete with Bitcoin, but in my experience, it is a good cryptocurrency you can buy in 2024. It is an open-source platform, providing great scalability, low latency, and high transaction possibility. It is an example of advanced technology that supports gaming applications, non-fungible tokens (NFTs), and decentralized finance (DeFi).
- You will be surprised to know that the Avalanche price forecast predicted possible lows of $17.542, highs of $35.163, and a median price of $25.852 by the end of 2023.
- Suppose the market faces a bullish cycle, then we can indicate that the AVAX coin price could see a high of $80 by the close of 2024. This might signify a noteworthy rebound and provide investors with a ray of hope.
- Moving forward to 2025, It is expected that AVAX will continue to rise in value, possibly reaching a high of $134 and a low of $48. It is estimated that the average price during this time will be approximately $91.
I have been in coin marketing for a long time, and I personally think beyond Bitcoin, Binance Coin has the best value. It is among the biggest cryptocurrency exchanges in the world. Over the blockchain platform, Binance Coin is a good option for token sales, service access, and transaction fees. It integrates with different branches, such as the Binance Smart Chain, Binance Chain, and Binance NFT.
The 2023 price prediction for Binance Coin (BNB) gave an estimated trade between $230 and $532 at low and high levels, respectively.
But, for the 2025 BNB coin price prediction, we can expect the price of Binance Coin (BNB) to rise by approximately $840, while the lowest possible price may be approximately $692.
By 2030, the cryptocurrency market might see a high of $2296 for the BNB coin and a low of $1947. So, I suppose, it is a good time for you to invest in BNB.
‘Astar’ is based on the Polkadot network to offer a multi-chain and multi-virtual machine. I will give you some crucial information now, the price of Astar is going to drop in the upcoming months. Most probably, it will go -4.94% and reach $ 0.115738 as of January 2, 2024. Due to these reasons, I think it is a good option for investment in 2024.
- By, seeing the all-time graph of Astar, you must have understood that the price prediction is estimated to increase by 36.26% during the following six months, reaching reach $0.189758 on June 28, 2024.
- Finally, after a 66.52% value decline in a single year, Astar may trade at $ 0.231899 on December 30, 2024.
- The current trading volume of Astar is $74,571,708 USD in a day, with a live price of $0.143266, USD.
- However, you should know that there are seven billion tokens available on the Astar network in total.
- The 200-day moving average for Astar is rising upward and has been since December 28, 2023, indicating a strong trend.
I know the Ripple digital currency went through a roller-coaster in 2023. However, the market for this cryptocurrency seems calm now. So, I think you can invest in this. The current XRP price as of January 2024 is $0.634689 USD with a 24-hour trading volume of $809,595,655 USD.
- The “All Time” and “One Year” graphs of Ripple suggest negative outcomes for now, but the estimations suggest otherwise.
- However, the value of Ripple is expected to increase by January 2024. On average, we can expect it to see a hike of 30.00% to $ 0.826758, based on our current price estimate.
- But, from what I know, I can conclude that the current mood is neutral, and the Fear & Greed Index is currently 71 (Greed).
- During the last 30 days, XRP had 57% green days and 2.41% price volatility. My XRP forecast suggests that this is a good moment to purchase XRP.
- But, moving forward to 2026. It can range from $ 0.526813 on the low to $ 1.372975 on the high. By 2026, XRP’s value might increase by 117.25% from its present price if it achieves the higher price target.
The current Arbitrum price today is $1.72 USD with a 24-hour trading volume of $845293736.00 USD. It is an evolutionary layer-2 project, which provides a great option for miners and investors to get their hands onto. It allows users to grow on Ethereum, the largest layer-1 blockchain.
- The price value was, of course, estimated to see an upsurge during the last months of the year. The bullish will continue to the possibility during the final days of 2023, encouraging a price of ARB into the $1.7–$2 level.
- The ARB price was thought to stay in a fixed pattern from the beginning despite the fact that the price ended the year trading on a negative note.
- The price of Arbitrum is anticipated to trade between $2.2 and $2.4% by first half of the year 2025.
Finally, I’d want to advise you to consider all the options before buying any cryptocurrency by carefully examining the specifics. I understand that stock marketing, mining, currencies, and other issues could be difficult for you as a beginner. But do not worry! With me by your side, you will understand everything about it.
Frequently Asked Questions
With cryptocurrency trade or through brokers and dealers, you can buy cryptocurrencies. But you need to be aware of the transaction costs.
Blockchain is one kind of digital currency that runs on a decentralized network for transactions. It is not necessary for banks to verify transactions. Instead, it’s a mechanism that allows money to be sent or received between two entities from anywhere.
When investing in cryptocurrencies, there are a few measures that you should be aware of. That being said, these are them:-
Examine your individual financial objectives.
Assess the risk profile.
Examine the market.
Choose the ideal venue before investing!