Top 10 Cryptocurrencies to Buy in 2024

Hundreds of cryptocurrencies circulate in the market. For somebody willing to invest in cryptocurrencies, the question “which coin shall I choose?” is very common. We have checked the cryptos that have the highest potential and arranged them in a list based on which you can make an informed decision.

Veterans of the Cryptocurrency Market

We start with 5 leaders in the cryptocurrency market. They have existed for a while and have proven themselves as those that have more potential compared to other projects.

Bitcoin

The first cryptocurrency is still one of the most valuable and powerful. While there have been talks for a while that new leaders are going to replace it, it hasn`t happened yet and is not going to happen at least for some years more.

The main reasons why Bitcoin is a good investment:

It has higher liquidity compared to other coins.
It is wider accepted as a payment method.
International transfers are easy, easier than in the case with many other cryptocurrencies.
Scarcity: the number of Bitcoins that can be produced is limited.
Transparency: the blockchain with all the data about every transaction is available to anybody.

Drawbacks:

Anonymity issues.

Ethereum

Ethereum has introduced a completely new concept of a cryptocurrency and has shown that the blockchain can be used not only to store the data about transactions but in many other ways. Ethereum is not a cryptocurrency but a network that has its own token called Ether and works on its own blockchain. Ethereum has moved the cryptocurrency and blockchain concepts to a completely different level.

In the Ethereum network, companies can build their own apps and smart contracts. Smart contracts perform the function of a traditional legal contract but online, in the blockchain. They are created in a way that they self-execute when specific conditions are met. Thus, the potential of Ethereum is huge.

The main reasons why Ethereum is worth purchasing:

Liquidity: Ethereum is among the coins with the highest liquidity level.
Popularity: most of the events in the crypto world are going on on the Ethereum network.
New projects: smart contracts, DApps, DeFi — all of them were launched by Ethereum, and many more innovations are coming.
Finally, Ethereum is not just a cryptocurrency. It is a multi-faceted project that has huge potential in all fields of the modern industry: finance, legal, manufacturing, and similar. The full potential of the network is still to be explored but for now, we see that it has a great future.

Drawbacks:

Some specialists believe that multifacetedness is not a benefit but a drawback. Many platforms, many features, many projects result in more frequent breakdowns of the system, bugs, and other inconveniences. However, we believe that with time, these details will be improved.
A complicated programming language: Ethereum uses its own programming language called Solidity which might pose complications to those who want to use the system.

Ripple

Ripple is not a cryptocurrency but an entire system. It is a payment protocol, and it was developed to facilitate transactions. It was developed to be used by financial institutions such as banks and similar. This is its main difference from other cryptocurrencies. While other coins intend to replace banks, Ripple is created to collaborate with banks. You can compare the Ripple system with the internet created especially for banks, and this internet allows banks to communicate easily.

A bank can send any currency, and the receiving party receives any currency. Between them, the Ripple system lies. When one bank sends a specific currency, in the system, it is replaced by an equivalent sum in XRP, and then, this XRP equivalent is replaced by the sum equivalent in the currency the receiving party wants to have.

In itself, XRP is currency-agnostic, it can be used instead of any currency, doesn`t matter whether it is fiat or crypto.

Do you see the potential of investing in Ripple? Still, let us highlight the main reasons:

Immense potential.
Almost instant transactions.
Ability to work with any currency.
A unique project.
A wide acceptance by banks.
The project is powered by large financial institutions.

Drawbacks:

This cryptocurrency is centralized.
It is aimed at big financial companies, not individuals.

Litecoin

Litecoin is one of the oldest cryptocurrencies. Its creation was inspired by Bitcoin but Litecoin has made some improvements to the way the main cryptocurrency works.

Here are the main improvements and the major reasons why Litecoin can be a good investment option:

The block generation time was decreased, thus, the transactions are confirmed faster than in the case of Bitcoin.
Liquidity: as one of the most popular assets, Litecoin is characterized by high liquidity.
Transaction fees are low.
Has a reputation for being a reliable coin.
It works on the Scrypt algorithm that makes it stronger than coins launched at that time.

Drawbacks:

No major drawbacks.

TRON

Tron is one more unique project that deserves your attention. Initially, it was aimed at revolutionizing the way of tipping in the entertainment industry. Tron is not a cryptocurrency but a platform created for content sharing. You can compare it with Google Play, for example, with the only difference that in the TRON system, users are awarded by the system`s native token TRX. TRX tokens are owned by the users and can be easily exchanged to another cryptocurrency on any exchange.

This is one of few platforms that allows users to create not only their own videos, apps, etc. but also their own money.

Benefits of Tron.

Almost non-existent transaction fees.
The project is aimed at the entertainment industry which is developing rapidly.
Behind the project, there are well-known companies such as Ripple Labs.

Drawbacks:

The project is accused of being too centralized. More than 50% of coins are accumulated in ten addresses.
Just 15% of coins are available for individual users, the rest is held by investors and several developers.

Rising Stars in the World of Cryptocurrency

Along with cryptocurrencies that have been around for longer, and have already shown themselves as worth attention, there are a lot of other coins. Some of them are more recent but have already attracted the interest of many investors and crypto-enthusiasts. Let us have a look at them, too.

EOS

EOS is not a cryptocurrency but a network. It allows people to build their own Dapps and create smart contracts in the system. In this regard, it is similar to Ethereum. However, EOS uses a different consensus system called Delegated Proof of Stake, or DPOS. It means that some delegates are voted for to power the community. They confirm transactions in the system and receive awards. If they underperform, they can be fired, and other delegates can be voted for.

Reasons to invest in EOS are the following:

The processing power is high: in this regard, EOS can even outperform Bitcoin and Ethereum.
No transaction fees (it is cheaper to host there Dapps and Smart Contracts).
The parallel processing of transactions (the transactions in the network are processed incomparably faster than by any other blockchain).

Drawbacks:

Voting is not always able to determine the best candidates.
At any time, only 21 block producers (delegates) function. It raises questions about the possible centralization.
The major competitor of EOS is Ethereum which is already established and well-known. It might be a major obstacle in attracting investors.

Cardano

This is not a cryptocurrency but a system powered by its own coin called ADA. Cardano managed to attract a lot of attention within the first weeks after its launch. The initial idea of Cardano founders was to create an alternative to Ethereum. Thus, users can develop their Dapps, create Smart Contracts and protocols. However, the main difference and the main attraction of Cardano is the functionality of ADA. ADA tokens can be used for transactions, but along with it, they are applied to maintain the protocol security and verify transactions in the network.

The main reasons to invest in Cardano are the following:

Security: the unique two-layer architecture allows Cardano to provide top safety and scalability levels.
It works on the Proof-of-Stake algorithm which allows to significantly reduce transaction fees.
Scalability: the network processes more transactions per unit of time than other major cryptocurrencies.
The use of the Ouroboros protocol.
Scarcity: the total number of ADA tokens that can be produced is limited.
Stable growth: during 2020, the coin was growing in price relatively stable.

Drawbacks:

Ethereum is among its main competitors.
The proof-of-stake algorithm creates a loophole that allows double-spending. It raises security concerns.
Centralization concerns: just several validators decide which block is going to be validated.

IOTA

The coin opens new opportunities to crypto investors. It is based on completely new technology. IOTA is an institution and a cryptocurrency. It runs on Tangle — a special protocol that stores all the data and the information about all transactions. The main thing to understand is that Tangle is not a kind of blockchain. It doesn`t have blocks but instead, it highlights every individual transaction.

Reasons to invest in IOTA:

No transaction fees.
No mining.
Micro-payments are possible.
With huge scalability, Tangle can handle thousands of transactions per second.
Everybody can write data and confirm transactions on Tangle, even those users who use devices with low computing power.
Ternary computing is used which makes the Tangle absolutely secure.
Inflation proof. No mining means that no new coins will be created. Thus, no deflation is possible of the coins that are already in circulation.

Drawbacks:

Unproven technology.

Stellar Lumens

Again, we are dealing not with a coin but with a network here. The Stellar network is powered by its own token called Lumens (XLM). The project has an ambitious aim to bridge the gap between cryptocurrency and fiat money. Stellar makes it possible to perform transactions in any currency (both crypto and fiat) in the world. Thus, the Stellar network is able to combine all the financial systems in the world.

The main reasons why you should consider Stellar for investment:

It is a universal currency uniting any kind of currency. The potential is immense.
High speed of transaction processing.
High liquidity level.
Low costs of transactions.
Stellar can allow building smart contracts.
It is absolutely decentralized.
Partnership with top companies in the world such as IBM.

Drawbacks:

Significant competitors, such as Ripple.
Minimum limit to access the wallet (20 XLM shall be in the wallet to make it function).

Bitcoin Cash

Bitcoin Cash was created with an intention to solve issues that Bitcoin started facing, such as the scalability issue. Bitcoin Cash is cheaper than Bitcoin but it is a wonderful investment option because:

Transactions in BCH are much faster than in BTC.
High availability level: this coin is listed on the majority of exchanges.

Drawbacks:

It is associated with Bitcoin, thus, investors` faith in it is lower than it could be.
Low adoption level: it is not used widely.

Where to Buy Crypto Coins

All the mentioned, and many more coins can be safely purchased on LetxExchange. There, you can buy the needed coins as soon as the decision is made, no registration or verification procedures are required. Just a couple of clicks and the coins are in your wallet.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations. It doesn't constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.

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