If you are looking for a cryptocurrency to invest in 2024 and 2024, you are making the right choice. However, with over a thousand existing cryptocurrencies, choosing the best one to invest in can be a challenging task.
Many cryptocurrencies offer attractive investment opportunities. Deciding on your investment goals, doing your research, and choosing which one works best for you can be overwhelming and time-consuming. There is also your level of experience to consider when making your choice since some cryptocurrencies might be a good investment for beginners, while others have shown to be for more advanced crypto traders. Being that our team has been in the game for a very long time, our experience can shed some light on the matter.
However, you should always be on the side of caution, as investing in cryptocurrencies doesn’t necessarily make you profitable in the short term. Many traders have witnessed their investments crumble because they did not pay enough attention to security and invested in centralized exchanges that got hacked.
Some of the most common issues are forgetting to enable two-factor authentication, leaving your coins in an exchange, and not owning a hardware wallet or dedicated crypto transaction laptop. With all this in mind, whether you are just starting your crypto journey, or already have experience but in need of answers or guidance, don’t feel hesitant to contact us for additional advice.
For all of you looking for a cryptocurrency to invest in 2024 and 2024, we have composed a list of those that experts predict are in a range this year that could be a favorable position to be in.
“There is no doubt that cryptocurrency empowers anyone who uses the internet in their day to day life. Blockchain technology has enabled us to now engage so easily in economic activity among all people especially the fact that it has opened new frontiers on the internet for commerce. Investing in knowledge, and doing so having a stake in the game no matter the size is the best way to gain that knowledge. In this year, the markets are in my personal opinion priced low enough to enjoy the many facets cryptocurrency has to offer.” Daniel Dabek, Founder xcalibra.com
The Best Cryptocurrencies to Invest in 2024
Bitcoin (BTC)
No talk about cryptocurrencies can go without mentioning Bitcoin. It is the most used cryptocurrency with the goal to become global, peer-to-peer, digital money detached from any form of central government backing, and as such becoming fully decentralized.
One of the main reasons to invest in Bitcoin is that it has the highest liquidity in the crypto spaces, which makes it the best cryptocurrency for beginners. You should have no trouble buying or selling Bitcoin, and you can always expect to have someone match your offer. The demand for Bitcoin is expected to increase in the years to come, and the price will follow since there will only be 21 million coins. Nexo co-founder Antony Trenchev said he thinks the price of Bitcoin could go up to $50,000 by the end of this year.
Ethereum (ETH)
Ethereum consistently tops the list of top five digital assets by market cap and value and is without a doubt the cryptocurrency to invest in 2024. Unlike Bitcoin’s hashing algorithm, Ethereum’s algorithm Ethash was designed to be an ASIC resistant coin, which has enabled CPU/GPU miners to contribute to securing their network. As a result, it can be profitable for at-home miners, providing they can deploy enough computing power using their GPUs to compete.
It is the second most liquid cryptocurrency behind Bitcoin, which means you should have no trouble with buying or selling. Ethereum has a loyal team and community, and that gives this cryptocurrency a better chance of staying stable and increasing in value in the long run.
Ethereum tokens are called Ether, and they fuel the dApp ecosystem, which means that millions of developers and companies need it to support their smart contracts and launch applications.
Safex Token (SFT)
Safex is tackling eCommerce and using an open-source blockchain that delivers a marketplace application. Since the network is decentralized the Safex Token serves to allow users to create accounts, essentially creating decentralized marketplace stores, and participate in revenue sharing.
Decentralized finance (DeFi) took the crypto world by storm providing open and inclusive financial opportunities. This made the value of tokens locked in DeFi protocols skyrocket. Safex Token is a utility token that was originally released in 2015 to provide an incentive to the community to support the creation of Safex Marketplace. Every SFT holder who locks their coin participates in the revenue sharing of the Safex platform. The proportional reward is determined depending on the amount of Safex Token one locks.
Users can regain control of their purchasing power by utilizing the Safex marketplace platform which enables eCommerce directly with cryptocurrency shortening the settlement time, as well as reconnect directly with their customer. Data is no longer shared with a centralized party because it is on a peer to peer network from now on.
Safex Cash (SFX)
Safex Cash is a mineable proof-of-work coin that is used as a medium of exchange in the marketplace. It has an emission curve that follows the rate of adoption of new technologies and uses stealth address and ring signatures, which makes it a privacy coin.
Their team dedicated extra attention to developing an economic model by creating a special emission curve for Safex Cash increasing its distribution and making it attractive to both current and future miners.
Transaction fees on the Safex Blockchain are paid in Safex Cash for listing products to the marketplace, and when editing accounts among the many other functions of the marketplace platform.
Uniswap (UNI)
Uniswap is a Decentralized Exchange built on Ethereum that utilizes an automated market system instead of a traditional order-book. On September 16th, 2024 Uniswap released its platform’s governance token, allowing its users to claim an airdrop of 400 UNI.
After distributing 150,000,000 UNI to their historical liquidity providers, users, and SOCK redeemers/holders, the governance treasury retains 430,000,000 UNI to distribute throughout contributor grants, community initiatives, liquidity mining, and other programs. UNI will vest in the governance treasury on a continuous basis for the following four years.
BAT Basic Attention Token (BAT)
The BAT has been and remained one of the best cryptocurrencies for the last two years. This is a utility token utilized by the Brave Browser. It is used to tip content creators, as well as anyone you find helpful on the Internet. With the web browser industry being so enormous, it is clear that this cryptocurrency has a lot of potentials.
BAT has a lot of credentials with Brendan Eich, the co-founder of Mozilla Firefox, and the person who helped create JavaScript, standing behind it. While so many coins are prone to collapsing, BAT remains consistent, which is a sign of healthy accumulation.
Binance Coin (BNB)
Binance is a company with a solid business history and an experienced team. Its main concept is for its Binance Coin to be a utility token. The value of a Binance coin comes from how useful it is, along with the level of demand for its utility. Their success is proof to investors that they have the skills and resources to make this coin a success.
Binance Coin is ranked within the top 10 on CoinMarketCap and is one of the most liquid cryptocurrencies today. Their exchange is also one of the world’s fastest-growing cryptocurrency exchanges.
Earlier this year, the price of a Binance Coin has multiplied 3 times.
Final thoughts
Cryptocurrency has been the talk of the town for the last couple of years. However, the majority of people still look at the topic with caution and feel somewhat reluctant to invest or trade.
Of course, cryptocurrency can be considered a bit risky, but so can any other investment with a potentially high return, and recent history shows that it can often be a very good idea to invest in this rapidly growing industry. Although cryptocurrencies have been around for a relatively short time, so far they have shown the potential to be more profitable than most other asset classes.
