top of page

TOP 6 ALTCOINS OF 2024

Updated: Apr 16

Publication date: 19.03.2024.


This post may contain affiliate links, which means I may receive a small commission, at no cost to you, if you make a purchase through a link


The word ‘Altcoin’ comes from two words combined: "alt"—from the word "alternative" and "coin" from the word ‘cryptocurrency’. It is a term used to describe all cryptocurrencies other than Bitcoin. The first altcoins launched in 2011 and currently there are thousands of them. In this article, I will be presenting 6 altcoins I consider to be the best for the current year. As a result, I hope readers will use the information wisely or inspire them to continue with further investigation by themselves.




Ethereum (ETH)


Ethereum continues to take the lead in the crypto world, since its platform can host decentralised apps, as well as smart contracts. It is claimed that ETH is a decentralised playground for builders to determine the future in the blockchain’s technology information. Ethereum’s potential in various domains makes it distinguish as an Altcoin. However, many contradict to this, saying that it charges high fees for conducting transactions.


BNB (BNB)


BNB is an utility token used to pay trading fees and get discounted trades on the Binance exchange. It is also used for payment processing, or even trading fee discounts, as it has a vast range of applications. What makes BNB an interesting altcoin is its continuous burning mechanism, which increases value and reduces supply. Critics, though, believe that it is not a decentralized as other altcoins.


Solana (SOL)


Solana offers an efficient platform for decentralised application. It runs on a unique hybrid mechanism to process transactions in a quick and secure way, which contributes to its escalation. As a result, it is reasonably an attractive platform for developers and investors. It has also faced criticism since it is too centralized with few validating nodes.


Dogecoin (DOGE)


Started as a meme in 2013, Dogecoin has gained a massive community thanks to a dedicated community and creative memes. In addition, it is stated that DOGE can fluctuate to extreme lows and highs according to the market volatility. Its cultural impact combined with the growing use in transactions and payments, contributed to its rapid evolution into a strong cryptocurrency.


XRP(XRP)


XRP is used to make easier the exchange of different currency types with digital technology and payment processing company Ripple Labs. The company was founded in 2012, which adds to the XRP’s credibility, is a noteworthy contender in the extremely rapid cryptocurrency world. While other coins have come and gone over the years, Ripple Labs and its currency, XRP, have maintained their exceptional status throughout the cryptosphere.


Cardano (APA)


Cordano is considered to be a strong focus on sustainability and scalability. It was an early adopter of the proof-of-stake mechanism, an energy- efficient alternative to traditional cryptocurrencies. Cardano is likely to see increased adoption and utility, since ongoing developments aim at enhancing its ecosystem. However, it is often said that although the altcoin promised too much and has yet to deliver.



Conclusion


All in all, understanding market trends is very important for crypto enthusiasts. Critical thinking is essential in investment choices, especially in a market driven by hype and psychological cycles. The altcoins presented in this article are innovative directions one could take in 2024. However, as with any investment plan, it is crucial to conduct thorough research and investigation before deciding which you think are the best altcoins to buy.


If you want to invest in cryptocurrency, start now on Coinsmart exchange!


Alternatively, check out Binance - one of the world's largest cryptocurrency exchange platforms.

 

You can also read about:


 

Reference list:

52 views0 comments

Comments


bottom of page