In the crypto industry, there is always a risk that a new currency will inflate in value and quickly crash. This could be due to the market or bad actors. Regardless of the reason behind the crash of a cryptocurrency, you will need safer investment options.
Some of the safest cryptocurrencies are those with a long history. Over the years, they may have fluctuated in value, but they are now a dependable investment option.
In this blog, we will reveal this year’s top crypto with the most potential you should invest in.
A Brief Overview of Cryptocurrencies
Cryptocurrencies are digital assets that you can trade online. They use blockchain technology to keep track of transactions. In addition, these transactions are encrypted, reducing security risks.
Furthermore, you can also use them for short-term speculation by quickly buying and selling them as their value changes. Alternatively, you can hold onto cryptocurrencies and wait for them to accrue in value for an extended period.
What Cryptos to Invest in 2024?
While many intriguing coins have emerged in 2024, it is important to invest in one with a proven track record of success. Having backing will also make this investment safer.
Here are some popular and high-potential cryptocurrencies to invest in:
1. Bitcoin (BTC)
Since 2009, Bitcoin has been the most popular and well-known cryptocurrency. Therefore, it is less likely to maintain its popularity, partially ensuring that it will remain viable over time. In addition, reports indicate that this currency’s value has increased from $0.10 to well over $64,000 in 14 years. In fact, it has a record $70,184 top value.
Despite this coin having one of the highest value and longest history, it has a limitation. IT cannot support non-fungible tokens, meanwhile most new blockchains have this feature.
2. Ethereum (ETH)
The second best long term crypto investment is Ethereum. It has remained a popular choice for the past 9 years ― despite higher than-average fees. According to reports, it has increased in value by over 830 times in the past eight years. Interestingly, this is also a blockchain platform with many uses, including creating non-fungible tokens.
3. Binance Coin (BNB)
In 2017, the popular exchange platform Binance created this coin to facilitate cryptocurrency transactions. Since Binance is already a popular exchange platform, this coin is convenient for everyday online transactions. With this coin, you can also trade other cryptocurrencies.
4. Solana (SOL)
This is one of the currencies with the highest year-over-year returns, making it perfect for investing in cryptocurrency long term. One notable distinction of this cryptocurrency is that it uses smart contracts as well as other decentralized technologies. This allows you to make quick transactions whilst retaining a high level of safety. Plus, it is able to handle a high number of transactions, which means it could easily grow and support a larger share of the market.
5. XRP (XRP)
Although XRP offers less return on investment over time, it is still one of the best long term crypto investments. This is because this cryptocurrency has still grown in value since its inception in 2017. Plus, the XRP platform also allows you to trade fiat currencies and other cryptocurrencies.
6. Dogecoin (DOGE)
Even though this cryptocurrency started as a meme, it is still an important currency over a decade after its creation. It has very low fees and is unlikely to fall out of popularity due to its active community.
Note: Dogecoin has no set limit on its number of coins, which means it could lose value over time.
7. Avalanche (AVAX)
Lastly, you should consider Avalanche since it is an excellent choice for a cryptocurrency for long term investments. In 4 years, Avalanche has grown its blockchain and developed it to have features of some of the top cryptocurrencies, including creating non-fungible tokens. Additionally, Avalanche has a cap on coins and regularly destroys them, increasing its value. Still, this is the riskiest option on this list because Avalanche has been on the market for the least time.
Explore the High-potential Crypto with CryptoCracker
To make the best investment in crypto, you need to watch the market and assess which currencies are most likely to grow in value. In this scenario, CryptoCracker can help you learn about the most promising currencies.
In particular, you can use our Trend Indicator tool to recognize these currencies before they become too costly to invest in. Furthermore, our platform will help you track the progress of your investments so you can adjust your investment plan.
Conclusion
Now you know that Bitcoin, Ethereum, and Binance Coin are the cryptos with the most potential. They are some of the oldest coins on the market—in fact, Bitcoin was the first. Plus, they all have outstanding security measures, which makes cyber attacks less likely. Alternatives with comparable popularity include Solana, Ripple, Dogecoin, and Avalanche.
When choosing which cryptocurrencies to invest in, it is crucial to monitor market trends closely. Our Trend Indicator tool can help you identify the best opportunities and adjust your strategy to build wealth through crypto.
Frequently Asked Questions
Which crypto is best to invest in now?
Bitcoin is currently the best crypto to invest in. This is because this cryptocurrency has grown over the years and proved its staying power. Plus, Bitcoin has one of the best security systems among cryptocurrencies.
Which crypto has the most demand?
Since its inception, Bitcoin has retained one of the highest demand. Part of the reason why this cryptocurrency is particularly popular is because of its name recognition as the first cryptocurrency. Its longevity and history as the first cryptocurrency also sets this currency apart.
Which crypto will be used in banks?
Banks such as JP Morgan Chase will use Bitcoin, XRP, and USDT. They will use the FCF Pay blockchain to facilitate these transactions. However, they currently block all crypto transactions.