Cryptocurrencies are doing rounds more than ever for the past few decades. With the far reaching benefits that it offers, more and more people around the world are taking an interest in cryptocurrencies. There are tons of different cryptocurrencies, ranging from Bitcoin and Litecoin to Ethereum and Dogecoin, making it difficult for beginners to decide which cryptocurrency to invest in.
Today, in this post, we shall share with you the top contenders for cryptocurrencies to help you maximize your dimensions.
Let’s get started…
Table of Contents
- What is Cryptocurrency?
- History of cryptocurrency and How it evolved over time
- 15 Best Cryptocurrency To Invest Today
Let’s first take a look at what cryptocurrency is.
Here we go…
What is Cryptocurrency?
A cryptocurrency or crypto is a digital or virtual currency that acts as a medium of exchange. Crypto is protected by cryptography, making counterfeiting and double-spending practically impossible.
Most cryptocurrencies are built on blockchain technology, a distributed ledger enforced by a decentralized network of computers. Cryptocurrencies are not issued by any central authority, which makes them potentially impervious to government intervention or manipulation.
History of cryptocurrency and How it evolved over time
In 2008, blockchain pioneer Satoshi Nakamoto launched Bitcoin. Decentralization and cryptography appealed to Bitcoin fans. Thus, it expanded. Mining algorithms and speeds varied for Litecoin and other 2011 competitors. Many cryptocurrencies followed, adding additional features and use cases, including Ethereum’s 2015 smart contracts.
ICOs revolutionized crypto with the 2017 surge. This time, market instability and regulatory scrutiny occurred. Stablecoins’ ties to traditional assets made them attractive in the volatile crypto market. Thanks to DeFi services, Bitcoin allows middleman-free lending, borrowing, and trading. Today, cryptocurrencies are built for scalability, interoperability, and adoption.
Want to know which cryptocurrency to invest in?
Well, here is a Top cryptocurrency list for you to ponder on while deciding Top Cryptocurrency to invest…
15 Best Cryptocurrency To Invest Today
Here are the best cryptocurrencies to consider in 2024.
1. Bitcoin
Code: BTC
Market cap: $1.3 Trillion
Bitcoin cryptocurrency is a decentralized digital currency that may be sent from user to user on the peer-to-peer bitcoin network without the use of agents. It has no single administrator. Network nodes utilize cryptography to validate transactions, which are then stored on a blockchain, which is a public distributed ledger. The cryptocurrency was founded in 2008 by Satoshi Nakamoto, a pseudonym for an anonymous individual or group of people, and it was put into use in 2009 when the currency’s implementation was released as open-source.
Cryptocurrency bitcoin price has soared as it has grown in popularity. A decade ago, a Bitcoin was available at $500. Today, a single Bitcoin is worth $63,806.40. That’s an increase of around 12,761%.
2. Ethereum
Code: ETH
Market cap: $381 Billion
Ethereum is an open-source, decentralized blockchain that enables users to build smart contracts. It is the second most valuable cryptocurrency next to Bitcoin in terms of market capitalization. Vitalik Buterin, a programmer, invented it in 2013. The development of Ethereum was crowdfunded in 2014, and the network launched on July 30, 2015. Anyone can use the platform to develop permanent and immutable decentralized applications that users can interact with.
Decentralized finance (Defi) applications enable cryptocurrency holders to borrow against their holdings or lend them out for interest without the use of traditional financial intermediaries such as banks, brokerages, or exchanges. Ethereum has also taken the world by storm. Its price increased by more than 28,000% in just ten years, from around $11 to over $3,127.92.
3. Tether
Code: USDT
Market cap: $110.46 Billion
Tether is a cryptocurrency with its tokens issued by Tether Limited, which Bitfinex’s owners own. Unlike other cryptocurrencies, the tether is a stable coin because it is backed by currencies such as the US dollar and the Euro. It was created to always be worth $1.00, with $1.00 in reserves for each tether issued.
Tether’s value is intended to be more consistent than other cryptocurrencies, which is why it’s appreciated by investors who are frightened of other coins’ excessive volatility.
4. Binance Coin
Code: BNB
Market Cap: $93.4 Billion
Binance Coin is a utility cryptocurrency. It can be used to pay for fees related to trading on the Binance Exchange – the world’s largest cryptocurrency exchange by daily trading volume. Users that utilize tokens to pay for the exchange can trade at a lower cost. Binance’s decentralized exchange is built on top of the Binance Coin network.
Launched by Changpeng Zhao, the Binance exchange was previously based in China but eventually relocated its headquarters due to the Chinese government’s increased control of cryptocurrencies. It was only $0.10 in 2017; since then, it has climbed to $610.91, a gain of nearly 611,000%.
5. Solana
Code: SOL
Market cap: $65.77 Billion
Solana is one of the best Cryptocurrencies to invest in now. It is an open-source project that utilizes the permissionless aspect of blockchain technology to create decentralized financial (DeFi) solutions.
The concept and first work on the project began in 2017; however, it was launched by the Solana Foundation, based in Geneva, Switzerland, in March 2020. Solana uses a hybrid proof-of-stake and proof-of-history technique to speed up and secure transaction processing. SOL, Solana’s native cryptocurrency, powers the platform. SOL began trading at $0.77 and is currently trading at $147.12, a gain of 19,106%.
6. XRP
Code: XRP
Market cap: $27.63 Billion
XRP, a digital technology and payment processing company founded by some of the same people who founded Ripple, can be used on that network to ease the exchange of many currency kinds, including fiat currencies and other major cryptocurrencies. The price of XRP was $0.006 in 2017, and now it is $0.53, there is an increase of about 8,833%.
7. Dogecoin
Code: DOGE
Market cap: $21.76 Billion
Dogecoin was established by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer as a joke at first. They sought to make a peer-to-peer digital currency that might appeal to a larger audience than Bitcoin. They also intended to separate it from the contentious history of other coins. Dogecoin was formally launched on December 6, 2013, and over a million people visited Dogecoin.com in the first 30 days.
Elon Musk frequently mentions Dogecoin on Twitter, which has resulted in a massive growth in its popularity in recent years. The price of Dogecoin in 2017 was $0.0002, and in April 2024, it was $0.15, a 75,000% increase.
8. Cardano Coin
Code: ADA
Market cap: $18.44 Billion
Cardano is a distributed ledger technology that is open to the public. It’s open-source and decentralized, and it uses proof-of-stake to achieve consensus. Its internal coin, Ada, can help enable peer-to-peer transactions.
Charles Hoskinson, a co-founder of Ethereum, started Cardano in 2015. It’s also the most popular cryptocurrency to employ a proof-of-stake blockchain, which is considered a more environmentally friendly alternative to proof-of-work protocols. Like other crypto coins, Cardano’s ADA currency has also grown from $0.02 per share in 2017. It was priced at $0.48 in April 2024, which is a 2,400% rise.
9. Polkadot
Code: DOT
Market cap: $10.70 Billion
Polkadot is a one-of-a-kind proof-of-stake coin that is intended to provide interoperability between different blockchains. Its protocol connects both permissioned and permissionless blockchains and oracles, allowing systems to collaborate under one roof.
Polkadot’s essential component is its relay chain, which enables network interoperability. It also allows for “parachains,” or alternative blockchains with their own native currency for specific use scenarios. Polkadot’s first token sale ended on October 27, 2017, with 485,331 ETH raised (Ether, the currency of the Ethereum blockchain). At that time, it was $0.29. In April, 2024 the price is at 7.45, approx. 2,570% growth.
10. Chainlink
Code: Link
Market Cap: $8.66 Billion
Smart contracts and real-world data can be linked with Chainlink, a decentralized oracle network. Sergey Nazarov and Steve Ellis started Chainlink in 2017 with the goal of making guaranteed safe data feeds for many blockchain apps.
Incentives for node owners to provide correct data are built into the network’s native token, LINK, which makes deals easier. The market value of Chainlink has surpassed $8.66 billion, making it an important part of the rapidly growing DeFi environment that makes sure data-driven smart contract outcomes are reliable and trustworthy. It was $0.12 in 2017 and is now $14.75, more than 12,290% growth.
11. Polygon
Code: MATIC
Market Cap: $7.58 Billion
Adding users and reducing transaction costs is easier using the Ethereum layer 2 scaling option Polygon (formerly Matic Network). In 2017, Jayanti Kanani, Sandeep Nailwal, and Anurag Arjun launched Polygon to link Ethereum-compatible sidechains.
Native currency MATIC pays transaction fees, secures the network, and votes in governance. With smart contracts and infrastructure, Polygon is a top Ethereum scaling strategy for over $7.58 billion. It was $0.004 in 2017 and is now $0.77, more than 19,250% growth.
12. Litecoin
Code: LTC
Market Cap: $6.20 Billion
Litecoin is a cryptocurrency and open-source software, which was distributed under the MIT/X11 license. Starting in October 2011, Litecoin was an early bitcoin offshoot or altcoin. Litecoin is essentially comparable to Bitcoin in terms of technical specifications. In 2017, it was listed as the third most profitable coin. It is regarded as one of the greatest Bitcoin alternatives since it offers faster transactions, lower transaction costs, rapid adoption of new technology and security. It was $0.12 in 2017 and is now $83.27, more than 69,390% growth.
13. Uniswap
Code: UNI
Market Cap: $4.68 Billion
Uniswap is a decentralized exchange (DEX) system that was created on the Ethereum blockchain. It lets users trade different ERC-20 coins without employing third parties. Starting in 2018, Hayden Adams created Uniswap, which introduced the idea of automatic market makers (AMMs). AMMs let liquidity sources make money by adding to liquidity pools.
Tokens that represent Uniswap’s control give their owners the right to vote and a portion of the protocol fees. As the market capitalization of Uniswap rises above $4.68 billion, it becomes easier for more people to use decentralized finance and the Ethereum environment becomes more stable. Uniswap currency has also grown from $3.38 per share in 2022. It was priced at $7.68 in April 2024, which is a 227% rise.
14. VeChain
Code: VET
Market Cap: $2.92 Billion
To improve business processes and supply chain management, VeChain uses distributed ledger technology (DLT). VeChain was started by Sunny Lu in 2015. VeChain enables enterprises to track and authenticate products throughout their lifecycle, providing transparency and traceability to consumers. This gives customers assurance of openness and accountability. For example, VET, the VeChainThor blockchain’s native coin, can be used to send money and get to different services.
As a major provider of blockchain-based solutions for supply chain management and business usage, VeChain has a market capitalization of more than $2.92 billion and has formed relationships with many global companies and government agencies.
The price of XRP was $0.01 in 2018, and now it is $0.04, there is an increase of about 400%.
15. Aave
Code: AAVE
Market Cap: $1.32 Billion
Ethereum-based Aave lends and borrows autonomously. Stani Kulechov founded Aave in 2017 to allow consumers give and acquire many digital goods without intermediaries. AAVE, an open-source, non-custodial decentralized lending protocol that allows users to earn interest on deposits and borrow digital assets.
Recent features like fast loans and collateralized debt positions (CDPs) have made Aave a major DeFi player and a must-have for customers who wish to access funds without authorization, according to its $1.32 billion market valuation. The price of Aave was $5.19 in 2018, and now it is $90.61, there is an increase of about 1,750%.
Wrapping it up…
So these are the best cryptocurrencies to invest in today, which could give you much larger return than conventional trading apps like Robinhood. These are the most well-known Cryptocurrency stocks and Profitable cryptocurrency to consider investing in. Understand that there is no fixed trend in the Cryptocurrency market; the Cryptocurrency prices and trends keep changing every day. Hence, you need to be well-versed with those changes for successful Investing in bitcoin.
The COVID-19 outbreak has severely impacted the worldwide economy. However, Bitcoin, Ethereum, and many other digital currencies have gotten a lot of attention even during COVID-19 times. For the first time, banks have begun to purchase cryptocurrency. Many banks in the US are developing their own blockchain-based systems. Even PayPal intends to allow Bitcoin to be used as a funding source.
