Best Cryptos to Buy now for 2024

Digital assets continue to gain popularity. For example, it is estimated that around 40% of Americans now own cryptocurrency. So, as these assets continue to carve a progressively more prominent place in the global financial landscape, it is more important than ever to stay informed about the most promising cryptocurrencies around.

In this article, we will explore in detail the most promising cryptos likely to revolutionize the industry. Whether you are an experienced investor or just curious about discovering new trends, this overview of the most promising cryptocurrencies right now will help you make informed decisions in the ever-evolving world of digital assets.

How did we analyze and choose these cryptocurrencies for this list?

To propose the top 10 cryptocurrencies of the year, several criteria have been considered:

• Stability of the project and the digital asset itself: volatility in crypto prices is to be expected, but internal squabbles can permanently sink even the top crypto to buy for 2024. We saw this during the Bitcoin civil war and the Ethereum hard fork, so it’s important that the team guide the project with steady hands
• Potential updates: these have to occur to apply changes that can improve the blockchain. They are also meant to one-up the competition by introducing new features and can therefore be a springboard for appreciating crypto prices
• Major upcoming events: such as the halving of Bitcoin every four years cause anticipation among investors. Such upcoming events lift a particular crypto’s prices as the deadline approaches and can be a good place to buy the coin
• Market capitalization: measures how much investment there is in the coin. A higher market cap means more investor confidence and the likely top crypto to buy for 2024. But it can also be a sign that the market is overbought and can fall back down. It’s a matter of assessing other market conditions to determine the market direction
• Circulating supply: generally, the lower the supply the better because lower supply increases demand. That is why projects will often ‘burn’ some tokens to artificially increase demand and reward holders
• Security measures of the crypto: blockchain technology is meant to be more secure than traditional finance. Therefore, how any project achieves this is necessary since it is the foundation upon which everything else about it is built
• Price historical chart: when you want to know what crypto to invest in, you should look at its performance. The most promising cryptocurrency may not have a high ROI, but it can have a steady increase in value over time
• Community support: blockchains typically don’t have a financial backer. Instead, developments on a blockchain depend on a community of supporters and developers to pitch in. thus, how much community support one gets will determine its success

While these criteria alone cannot predict the success of a project or cryptocurrency alone or in a definite manner, they provide a solid foundation for explaining and helping understand which cryptos are most reliable to invest in.

Our selection of the best cryptos for October 2024 consists of coins that have demonstrated resilience to significant market downturns. Thus, they are well positioned to surge in the next bull run, anticipated with the Bitcoin halving. Some Ethereum competitors, like Solana, are making a strong comeback, for example. I the list below, we have both layer-1 blockchains and layer-2 cryptocurrencies.

Our selection of the most promising cryptos to buy now for 2024

1. Bitcoin (BTC)

It’s challenging to compile a list of cryptocurrencies with growth potential without including Bitcoin. Launched in 2009 by the unknown Satoshi Nakamoto, Bitcoin holds the undisputed position of the leader. It almost dictates the evolution of the entire market, with its fluctuations often replicated by most cryptocurrencies. Considering its reliability, BTC could be considered the cryptocurrency with the most potential this year

With one of the biggest market capitalization, it remains the absolute and legitimate leader in the market. This position is expected to strengthen further as the scarcity of the cryptocurrency increases (remember, there will only ever be a maximum of 21 million BTC in circulation). In the end, Bitcoin is gaining more and more status as a savings investment.

Practically and technically, Bitcoin is a peer-to-peer cryptocurrency that eliminates intermediaries in transactions. The publication of a white paper on the operation of such a network, called blockchain, to enable direct transactions between individuals, marked the start of the BTC adventure in October 2008.

Three months later, Bitcoin began recording its first transactions. The rest of the story, with market enthusiasm, disappointments, accelerated growth, is known to all. Bitcoin has been a pioneer and has never lost its status as a leader. As a trusted cryptocurrency, BTC unsurprisingly fits into the selection of promising cryptocurrencies for October 2024. Will it reach the long-awaited $100,000 mark as predicted by many experts?

Why is Bitcoin a promising crypto to consider?

Bitcoin’s popularity has been established over the years by many factors. Mainstream acceptance has made it the go-to cryptocurrency for most people. Meanwhile, institutional investments directly and through ETFs ensures that there is plenty of capital flowing. 

So it’s always a good crypto to invest in whether you’re new to the industry, a professional trader, or a long-term investor. 

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2. Ethereum (ETH)

When looking at the overall crypto market, Ethereum’s situation is similar to that of Bitcoin. It is a cryptocurrency that has established itself as one of the main assets in the sector. However, ETH distinguishes itself from BTC in various ways, as BTC has partly benefited from its role as a pioneer and the anonymity of its founders. Ethereum’s founder, Vitalik Buterin, has not hidden his identity. Moreover, the innovative nature of its technologies is the main element on which the network has built its popularity.

Ethereum is a decentralized open-source network. This blockchain, which provides functionalities for the issuance and governance of other cryptocurrencies, has its native token, Ethereum (ETH). The Ethereum blockchain introduced the concept of smart contracts. These are digital contracts, in the form of computer programs, that execute automatically. After the official launch of the Ethereum network in July 2015, the popularity of ETH has continued to grow.

Ethereum’s ERC-20, ERC-721, and ERC-1155 protocols allow the deployment of a variety of tokens with different functionalities. Even though the blockchain faces network congestion issues, various updates solve them to some extent. In any case, ETH has gained the trust of the market and it is the second one in terms of capitalization after Bitcoin.

Why is Ethereum a promising crypto to consider?

Aside from being extremely popular, it is the ability to host layer-2 protocols on the Ethereum blockchain that makes it so promising. It has been used for DeFi and other Web projects, some of which have been very innovative and exciting. 

The applications of Ethereum are seemingly boundless, as can be noted by the number of developers using it. And while it has been facing challenges with network congestion, these can be overcome with time to accelerate developments.

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3. Solana (SOL)

Since we are mentioning Ethereum, let’s immediately continue with a cryptocurrency that aims to compete with it. Have you ever heard the term “Ethereum Killer”? This term refers to a cryptocurrency that aims to bring the technology and operating principles needed to surpass ETH as the second to Bitcoin.

While no cryptocurrency has truly achieved this yet, Solana deserves credit for remarkable development and a strong market position. Also operating as an open-source network, Solana leverages blockchain principles to offer decentralized finance (DeFi) solutions.

By introducing the concept of proof-of-history, Solana solves the major scalability issue faced by Ethereum. Its place among the promising cryptocurrencies is therefore not surprising. Instead of high transaction fees in the event of network congestion due to high demand, Solana continues to maintain relatively low transaction fees despite varying network conditions

After a gradual start from 2017, Solana officially entered the market in 2020. Quickly jumping nearly X40 in the first few months, the cryptocurrency has particularly impressed with its technology. You can find the market capitalization of Solana in CoinMarketCap. Some experts do not rule out the possibility of it approaching its all-time high.

Why is Solana a promising crypto to consider?

Many developers now prefer Solana because it charges lower fees and the network is faster. With so much development, it is perhaps the most promising cryptocurrency for any investor seeking high returns. 

As the total value locked (TVL) continues to rise on the blockchain, this can only result in more investment. And let’s not forget that Solana has great fundamentals, including the team, community, and technology.

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4. Litecoin (LTC)

If Ethereum has its “killers,” Bitcoin also has its declared competitor. This ambitious role has been chosen by Litecoin (LTC). Without claiming to surpass Bitcoin, Litecoin continues to position itself as a faster, lighter alternative to Bitcoin, often likened to silver compared to Bitcoin’s gold… Consequently, its creators have utilized the same protocol as that of the mother of cryptocurrencies. But the similarities end there!

In several other aspects, the promising cryptocurrency Litecoin aims to offer more relevant features than Bitcoin. Regarding security, for example, Litecoin relies on a theoretically more efficient algorithm. Additionally, LTC has opted for a coin supply volume four times higher than that of BTC and is much cheaper to buy than Bitcoin. These factors make it more likely for users and businesses alike to buy Litecoin and use it to make transactions in the long term.

On the Litecoin network, the block production time is also divided by four compared to Bitcoin. These differentiations aim to provide an environment for faster, lighter, and less costly transactions. LTC is now among the promising cryptocurrencies of 2024 due to these technical principles. But the cryptocurrency also argues stability over several years and the ability to mine it. You can find the market capitalization of Litecoin in CoinMarketCap.

Why is Litecoin a promising crypto to consider?

It is considered the silver to Bitcoin’s gold because Litecoin is very similar to its predecessor; just not as prominent. For this reason, it is widely accepted as a digital currency by many outlets and can be used for online shopping and physical shops. 

Also, rather than stay in the shadows as an alternative, the Litecoin blockchain has undergone several upgrades. These have made it faster at processing transactions while making it harder for a few investors to dominate the blockchain through mining farms.

You can get Litecoin (LTC) on exchanges such as Coinbase.

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5. Ripple (XRP)

Some refer to this cryptocurrency as “the banks’ crypto.” Indeed, Ripple (XRP) had multiple partnerships with key players in the financial sector right from its launch. For its progression, this cryptocurrency could rely on the trust generated by these partnerships.

These partnerships are increasing due to the functionalities offered by the XRP proprietary network. The Ripple platform enables international fund transfers through its decentralized blockchain. It also facilitates the conversion of various fiat currencies as well as cryptocurrencies, with remarkable speed.

Beyond the credibility derived from partnerships with trusted entities, Ripple (XRP) deserves its place on this list due to its operational structure. XRP does not undergo mining. Its issuance is carried out by Ripple Labs, following a well-established schedule. The price of XRP changes relatively little. However, you can find the market capitalization of Ripple in CoinMarketCap and understand how robust is this project and why it has market confidence.

Why is Ripple a promising crypto to consider?

Through its partnerships with financial institutions, Ripple has cemented its position as a leader in global payments. History has shown that institutional acceptance can propel cryptos, and Ripple is leading in this regard. 

So far, it appears to bridge transactions between fiat and crypto which is an essential service in the financial industry. And let’s not forget the win Ripple Labs got against the SEC despite a $125 million fine.

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6. Toncoin (TON)

Toncoin (TON) is something unique in the whole cryptocurrency space, considering that it is associated with one of the largest messaging platforms: Telegram. The TON blockchain was developed by the team at Telegram and handed over to open-source developers. It creates special value, especially in its integration into social media platforms, given that users can easily send cryptocurrencies directly through chats.

Toncoin works on a blockchain that is meant to be super fast, secure, and highly scalable. Its architecture allows for millions of transactions per second, hence being highly efficient in terms of cryptocurrency. Along with regular transactions, the TON blockchain is generally able to support dApps and other complex operations that will be developed. The native TON token would keep the ecosystem running and make sure the network’s self-governance regarding transaction fees remains as decentralized.

Why is Toncoin a promising crypto to consider?

The crypto space is such that an application is as popularly used as Telegram, but few have a direct connect to. This can make Toncoin synonymous with cryptocurrency payments in more ways than one. Moreover, the advanced technical capabilities of the platform make it future-proof.

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7. NEAR Protocol (NEAR)

NEAR Protocol is designed to be a high-performance blockchain platform with the aim of solving scalability-related issues originating from other networks, more so Ethereum. The focus goes to delivering an easy-to-use and developer-friendly environment for decentralized applications, dApps, while putting much emphasis on user experience and transaction speed.

NEAR is uniquely positioned because of its use of sharding for vastly scaling transaction throughput. The NEAR platform also works very hard to provide a seamless onboarding experience for blockchain-newbie users, so it’s one of the friendliest new-user platforms. NEAR token is used as utility for securing the network and paying for transaction fees. Considering the steady growth of the NEAR ecosystem, this platform may become, in the near future, one of the strongest competitors among its peers within the blockchain space, particularly in terms of scalability and usability. You can follow the market capitalization of NEAR on CoinMarketCap to get a sense of its growing importance.

Why is NEAR Protocol a promising crypto to consider?

NEAR Protocol was designed from scratch to both scale and be user-friendly. By making developers’ and users’ journeys as seamless as possible, it has the potential to be the go-to platform for dApps as crypto adoption grows.

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8. SUI

SUI is a relatively new blockchain network that promises a place for innovation in scalability and speed for decentralized applications. Built by former engineers at Facebook, SUI makes use of a new programming language called Move, fit for security and flexibility, thus ideal to build complex decentralized ecosystems.

SUI has an unparalleled parallel processing model of transactions, allowing the network to process millions of transactions occurring simultaneously. The result is that SUI can scale globally without congestion. SUI is the native token central in network security and facilitates all on-chain transactions and smart contract executions. With such a strong technical backbone, SUI has the potential to emerge as a key player both for the DeFi and the dApp ecosystems. Its fast-growing market capitalization reflects this potential, and you can track it on CoinMarketCap.

Why is SUI a promising crypto to consider?

By focusing SUI on scalability and security, adding the most modern programming language, it may easily become the go-to platform for developers, and when more and more dApps migrate to the network, serious growth can be seen by SUI.

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9. Internet Computer (ICP)

ICP’s initiative is to change the way the internet works by establishing a really powerful, blockchain-based platform capable of running smart contracts and web applications seamlessly. Launched by the DFINITY Foundation, the vision of Internet Computer is to decentralize the entire web, not just finance.

Internet Computer (ICP) ICP blockchain specifically hosts websites, applications, and smart contracts, showcasing speed, unprecedented scale, and decentralization without centralized cloud services. ICP tokens are used to pay the cost of computation to run decentralized applications, thus making them a core component in the economy in the network.

Internet Computer works with so many developers to recognize decentralization as a needed entity in Web Services, while it could be a huge platform in the New Decentralized Web. Its market capitalization is available on CoinMarketCap and reflects its ambition to shake the current centralized internet infrastructure.

Why is ICP a promising crypto to consider?

ICP is incomparably more than yet another cryptocurrency, as it finally allows basic decentralization of the whole web. With its emphasis on scalability and governance, it’s well-positioned to have a significant role in the future of the internet.

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10. Artificial Superintelligence Alliance (FET)

The FET or Artificial Superintelligence Alliance is one of those cryptocurrency projects in pursuit of merging blockchain powers with the fast-growing area of artificial intelligence. Thus, the platform is made to support cooperation between AI developers and researchers, an ecosystem where AI and machine learning technologies can thrive installed on decentralized infrastructure.

The Artificial Superintelligence Alliance uses blockchain technology to offer a secure and transparent marketplace for buying and selling AI models, data, and tools. Network participants can be buyers of AI resources or may resell or share using the FET token.

This new innovative ecosystem fosters and develops AI technologies themselves by creating the right incentives for collaboration and resource sharing across global communities of Artificial Intelligence. This puts Artificial Superintelligence Alliance in the leading position of AI development and deployment. 

Why is FET a promising crypto to consider?

Artificial Superintelligence Alliance, by integrating the AI and blockchain, is unique in its value proposition, creating a network through which a decentralized marketplace for AI solutions is built. This could write the story of accelerated AI development with transparency and collaboration across industries.

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How to Choose Which Promising Crypto to Invest In?

It might seem redundant to almost systematically mention Bitcoin or Ethereum when the question arises of which cryptocurrency holds the most promise. Some crypto investors dream of being offered an exclusive shortlist of cryptos that will achieve 100x or 1000x returns. While it’s true that cryptos like SHIB or DOGE have achieved such feats, and others will continue to do so, these return goals are somewhat unrealistic. As an investor, it is advisable to prioritize cryptos that have withstood crises without collapsing. This is why Bitcoin and Ethereum consistently appear in rankings. In general, you should apply a method when choosing a promising crypto to invest in.

Analyzing the History of the Most Promising Crypto

When considering an investment in crypto, conducting background analyses is crucial. Learn about the origin, evolution, and performance of the crypto up to now, as well as its future prospects. Why was it created, and are the founders reliable? Understanding what the crypto brings through its features gives you an idea of its ability to establish itself sustainably in the market.

Similarly, this research phase helps you determine if the crypto has strong community backing. It’s worth noting that some cryptos only have their community as an asset, but still manage to succeed. Memecoins illustrate this perfectly. Your analysis will help you grasp the growth potential of the crypto based on its strengths. Through its history, you’ll also be aware of the phases of price growth/decline, aiding in establishing long-term forecasts.

Staying Informed Regularly

The crypto sector is evolving rapidly. Even if you think you have identified the crypto with the most potential 100%, an event or a series of actions can challenge everything in just a few days! That’s why you should closely follow the news on cryptocurrencies in general, and especially on each crypto you want to invest in. Specialized websites, official Twitter accounts, Reddit threads, or Telegram forums for each crypto can serve as information sources. At Tokize, for example, we present the daily news of various cryptos. By staying informed regularly, you’ll be able to make the best investment decisions.

Preparing Your Budget

The most important point to finish: how much money to invest and how to identify the right time? The budget to allocate to a promising crypto depends on its value and your goals. If you’re targeting the safest cryptos like Bitcoin or Ethereum, only a substantial budget allows you to truly benefit from their growth. On the other hand, if you’re looking for a crypto whose value can multiply by 2x, 5x, or more, a modest budget already allows you to obtain several units of a cheap promising crypto, which you then hold. But here, it’s only for long-term investment!

For short-term investors, trading crypto CFDs would be the best option. In this case, any budget could work because you can take advantage of all the market fluctuations. Regardless, in defining your budget, be sure to limit yourself to an amount you can afford to lose without disrupting your finances.

Choosing the Best Trading Platform

It may sound simple, but it’s important. There are many trading platforms on the market, with some being more liquid than others. Among cryptocurrency buying and selling platforms, we recommend using eToro, Coinbase, or Kraken, which are the three most well-known, secure, and widely used trading platforms on the market. Registration is straightforward (provided you pass the KYC). You can then deposit funds and invest your money in the most promising cryptocurrencies!

What to Know Before Investing in Cryptocurrency

In the end, no matter which promising cryptocurrency you target, always keep in mind that this market is very volatile. Indeed, it is driven by demand and has no legal status (except in 2 or 3 countries, notably El Salvador). Therefore, investing can be somewhat dangerous. Some individuals may end up losing all or part of their investment, particularly due to rapid and unexpected increases or decreases.

Finally, it’s worth noting that the Tokize team does not provide any investment advice. The mentioned cryptocurrencies result from an analysis based on tangible facts and figures. However, feel free to conduct your own research. It’s better for you to have all the information at hand before positioning yourself on a particular token.

Which Cheap Promising Crypto Will Explode in 2024?

Predicting which cryptocurrency will explode is quite complicated. Technically, any cryptocurrency can experience significant increases. It depends on several factors, such as technological breakthroughs and advancements. By introducing a mainnet, a major update, or announcing a large-scale project, predictions for a specific crypto can be revised upwards.

But that’s not all. The market condition also needs to be taken into account. In a bullish market (“bull run”), projects can also experience significant surges. In a stagnant or bearish market, the chances of a promising cryptocurrency exploding are relatively lower.

Finally, the future cryptocurrencies that can offer disruptive, innovative, and surprising solutions have not yet arrived on the market. Those that can propose solutions that are disruptive, innovative, and surprising. Ultimately, it is difficult to make a definitive statement, but by conducting your research, you might stumble upon the gem of tomorrow.

Conclusion: Choosing the Most Promising Crypto Wisely

There is no ultimate choice when you wonder which cryptocurrency is the most promising. The opportunities and risks inherent in any investment also apply to cryptos, and can vary from one asset to another. To identify the promising crypto to invest in, you must analyze several parameters, both technical and factual.

Among others, the technology of the crypto, the supporting community, and its news can guide you. However, these factors do not guarantee future profitability, as the cryptocurrency market is highly volatile and subject to rapid changes. Therefore, remain cautious when investing and limit yourself to an amount that your situation allows you to spend.

In addition to the cryptos mentioned above, cryptocurrencies such as Ape Coin (APE), Stellar Lumen (XLM), Shiba Inu (SHIB), Cosmos (ATOM) or Polkadot (DOT) are also among the promising cryptos at the moment. But before investing in any of these cryptos presented in this guide, research and conduct your analyses.