Best Cryptocurrency to Invest in 2024

 

Crypto tokens are fundamentally digital assets grounded in cryptography. They derive value from unique use cases which each token or project is trying to solve.

 These tokens function within a blockchain, a decentralised, transparent ledger of transactions accessible to all. Notably, any data or transaction recorded on a blockchain is immutable and irrevocable.

Bitcoin (BTC)

The oldest and most popular crypto token on the market, Bitcoin was the coin that started the entire crypto craze. From its humble beginnings in 2009, it has soared to unimaginable heights and gained the attention of investors, the media and businesses. 

Ethereum (ETH)

After Bitcoin, Ethereum has established itself as one of the most dominant forces in the crypto market. It was the first to introduce smart contract functionality, which enables developers to create and automate several key features we take for granted today.

Binance Coin (BNB)

Launched in 2017, BNB has evolved from a simple token to powering its own ecosystem. At first, BNB was used to provide special benefits to users of the Binance crypto exchange, such as lower fees, exclusive access to initial coin offerings and cashback. 

Solana (SOL)

• Solana is not easily interoperable with Ethereum, thus restricting its smart contracts to those built for the network. 
• Solana has experienced several network outages that have made it unreliable for its users. 

Dogecoin (DOGE)

Dogecoin is one of the most popular tokens among investors. Initially started as a joke on Bitcoin, it became an internet sensation that garnered a passionate and active community. Its unique value is that it is based on the popular “Doge” meme. 

SHIBA INU (SHIB)

• Extreme Volatility: The rapid price fluctuations of Shiba Inu pose risks for investors, with the average holding period being just 13 days, indicating high volatility and potential for significant losses.
• Lack of Real-World Utility: Shiba Inu has limited real-world utility, is accepted by only a few dozen vendors globally, and lacks distinctive features to set it apart in the competitive cryptocurrency landscape.

Cardano (ADA)

Cardano is a decentralized blockchain project designed as an open-source platform to support peer-to-peer transactions. Its structured architecture allows for smart contracts, ensuring adaptability and scalability while maintaining robust security measures.