Are you looking to invest in cryptocurrencies but unsure which one to buy? With so many options available, it can be overwhelming to decide how to invest your money. That’s why we’ve compiled a list of the best crypto to buy now, based on factors such as project developments, price performance, and market capitalization, as well as the overall potential for growth.
In this article, we’ll take a closer look at the most promising cryptocurrencies, including staples such as Bitcoin and Ethereum, and a combination of several other promising crypto projects. We’ll discuss their features, advantages, and potential drawbacks, as well as provide insights into market trends. Whether you’re a seasoned investor or just starting out, this article will help you make an informed decision about the best crypto to buy now.
So, let’s dive in and explore the best cryptocurrencies to invest in December 2024:
- Chainlink – A decentralized oracle network
- Bitcoin – The world’s oldest and largest crypto
- Fantom – A high-performance layer-1 blockchain
- Ethereum – The leading DeFi and smart contract platform
- EigenLayer – Ethereum restaking protocol
- XRP – The leading crypto remittance solution
- Avalanche – A leading “Ethereum killer”
- Solana – Smart contracts platform with high speeds and low fees
- Cardano – One of the largest blockchain ecosystems
- ZCash – Privacy-focused cryptocurrency
- Uniswap – The largest decentralized trading protocol
- Dogecoin – The original meme coin
The 12 best cryptos to buy right now: Discover top investments for December 2024
The following three cryptocurrency projects highlight our investment selection thanks to important developments and upcoming events that make them especially interesting to follow in the near future. These projects are updated each week based on the most recent developments and trends taking place in the crypto market.
1. Chainlink
Chainlink is a decentralized oracle network that acts as a bridge between smart contracts on blockchain platforms and real-world data. Its primary role is to ensure the reliability of data used in smart contracts by connecting to multiple data sources, reducing the risk of data manipulation or failure. This enhances the versatility of smart contracts, allowing them to access and utilize a wide range of external data sources and services beyond their native blockchain environment.
One of Chainlink’s notable features is its security model. It relies on a decentralized network of nodes to fetch and validate data, eliminating the single point of control or failure. However, there are concerns about centralization, with some major node operators having substantial influence in the network. Additionally, integrating Chainlink into smart contracts can be complex, potentially posing challenges for developers.
Chainlink acts as a crucial intermediary, enabling smart contracts to interact with real-world data. It enhances data reliability, expands the potential use cases for smart contracts, and relies on decentralization for security.
Why Chainlink?
In the past week, LINK jumped by 17% and climbed to the 12th spot on the list of largest cryptocurrencies by market cap. That marked the biggest weekly change out of all the top 25 cryptos and helped the coin reach its highest price in 37 months. The surge follows the revelation that World Liberty Financial, a crypto company backed by former president Donald Trump, bought 78,387 LINK tokens since December 11.
It’s worth noting that the Trump-backed DeFi project bought ETH and AAVE as well. “To me, it is a way to gain additional trust or a way to boost the project [World Liberty Financial] by shedding light on these assets as the project will likely do well if these assets do,” explained the investment Nicolai Søndergaard, Nansen’s research analyst.
In addition to World Liberty Financial’s investment, whale activity has probably also played a role in facilitating the large surge in LINK’s price. According to data from Santiment, whales have bought nearly 5.7 million LINK in the last two months, worth about $168 million at the time of writing.
The market activity could be a reflection of the growing confidence in Chainlink and its goal to capture a large chunk of the growing RWA market, which could grow to $10 trillion by 2030, according to some reports. Just recently, the company partnered with Coinbase’s Project Diamond, a platform designed for tokenized assets that is regulated by the Abu Dhabi Global Market.
2. Bitcoin
Bitcoin (BTC) is the original decentralized digital currency, enabling peer-to-peer transactions without the need for intermediaries such as banks or financial institutions. It was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin was the first digital currency to eliminate the double spending problem without resorting to any central intermediaries.
Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers around the world. This means that the transactions are secure and transparent, as anyone can view them, but they are also anonymous, as the identity of the participants in the transaction is not revealed.
BTC can be bought and sold on cryptocurrency exchanges, and they can be stored in a digital wallet, which is a software program that securely stores private keys that are required to access and transfer the currency.
Bitcoin is often referred to as “digital gold” or a store of value, as it has a limited supply of 21 million coins, and its value is determined by market demand. Some people also see it as a hedge against inflation or a way to diversify their investment portfolio. It is by far the largest cryptocurrency by market cap in the industry, accounting for the value of more than 40% of all digital assets in circulation combined, making it arguably the most popular crypto to buy.
Why Bitcoin?
Following Donald Trump’s presidential election win on November 5th, the cryptocurrency markets exploded, led by Bitcoin’s nearly 50% surge in the subsequent weeks. In fact, during the post-election rally, BTC reached a new all-time high of $106,600, conquering the elusive six-figure price milestone for the very first time. At the moment, it is trading a bit lower, at about $103,800.
From a macro point of view, investors are betting that the Trump presidency will be much more crypto-friendly than the Biden administration, and for good reason. Not only has Trump promised to replace the hawkish SEC chair, Garry Gensler, who was notoriously anti-crypto, but he is also directly involved in a number of crypto projects – including CollectTrumpCards, an NFT collection featuring the president-elect’s cartoonish images, and World Liberty Financial, a DeFi project backed by him and his sons.
In addition, recent reports suggest that Trump might make good on his promise to make BTC a reserve asset. When speaking to YouTuber Tim Pool, Strike CEO Jack Mallers said that Trump might use an executive order to purchase 5% of all Bitcoin and hold it in reserve for at least 20 years. That would obviously be extremely bullish for Bitcoin and crypto as a whole.
Meanwhile, both retail and institutional investors contributed heavily to the recent BTC rally. According to data from Farside Investors, the Bitcoin spot ETF inflows reached $6.87 billion in November alone. Meanwhile, the outflows barely surpassed $400 million in the same time period.
Another development that could be bullish for BTC (and virtually all other risk assets) is the expected rate cut on December 18. According to data tracked by CME Group, over 97% of traders believe that the Fed will reduce interest rates to 425-450 bps during the next meeting, which would be a 0.25% reduction.
3. Fantom
Fantom is a high-performance layer 1 blockchain built for decentralized finance and other web3 use cases. Following a rebrand in early 2024, Fantom became Sonic Labs, and dedicated a major part of its resources to building a new ecosystem around the Sonic chain. According to the officinal announcement, Sonic Labs will focus on developing decentralized applications while the Sonic Foundation will handle governance and treasury functions..
Sonic is an Ethereum Virtual Machine (EVM) compatible layer 1 blockchain that can reach up to 10,000 transactions per second (TPS) and sub-second transaction finality. Moreover, developers who launch their apps on Sonic can earn up to 90% of their fees thanks to a new monetization system.
There are three main components of the new Sonic ecosystem, including SonicVM (the layer 1 mainnet), SonicDB (low latency storage layer), and Sonic Gateway (the native bridge between Sonic and Ethereum. Support for other chains is in the pipeline).
Why Fantom?
Following the rebrand of Fantom to Sonic Labs in August 2024, the mainnet launch of the new Sonic blockchain is just around the corner. According to the team, the mainnet will go live sometime in December, so at most two weeks from now.
Sonic will bring several improvements compared to Fantom, including higher TPS count, sub-second finality, and a new fee monetization model that allows developers to earn up to 90% of fees generated by their apps. Moreover, the team plans to airdrop 200 million S tokens to the community. S coin will replace FTM as the native digital asset. FTM holders will be able to convert their holdings to S “soon”, according to the official X post.
To promote the launch of the new chain, the Sonic Foundation has allocated $200 million for grants and credits. As of this writing, more than 100 developers have already committed to launching their apps on Sonic once the mainnet goes live.
A major part of the new Sonic ecosystem will reportedly be real word assets (RWAs). The team has partnered with Backed and Chainlink to provide the necessary infrastructure to tokenize Fortlake Asset Management’s Sigma Opportunities Fund, a managed fixed-income Australian investment fund that targets 7–10% yearly returns.
4. Ethereum
Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum is a decentralized, open-source blockchain platform that allows developers to build decentralized applications (dApps) and smart contracts.
Ethereum has a wide range of use cases beyond just a store of value or medium of exchange. Ethereum’s smart contract functionality allows developers to build dApps that can run without the need for intermediaries, like centralized servers or institutions.
The Ethereum platform has gained widespread adoption and has become the backbone of the decentralized finance (DeFi) industry. DeFi applications built on Ethereum allow users to access financial services without relying on traditional banks or financial institutions. Ethereum’s smart contract functionality has also enabled the creation of non-fungible tokens (NFTs), which have gained popularity in the digital art and gaming worlds.
While Ethereum has a strong community and has been highly influential in the cryptocurrency industry, it also faces challenges, such as scalability issues and high gas fees. These issues have spurred the development of various Layer 2 scaling solutions. In the long run, future updates are supposed to massively increase Ethereum’s throughput bringing the transaction per second (TPS) figure from 15 to 100,000.
Why Ethereum?
Ethereum has been a major benefactor of the recent crypto rally, gaining more than 26% in the last month and breaking $4,000 for the first time since March 2024. However, ETH is still lagging behind many other cryptocurrencies, including Bitcoin, in terms of YTD gains. But a trend reversal could shake things up drastically.
Since the start of the year, BTC’s price has increased by over 134%, whereas the price of ETH increased by 63%, per data from CoinCodex. It’s very likely that we could see ETH close the gap with the largest cryptocurrency. During the 2021 rally, both cryptocurrencies posted similar returns, which lends credence to the possibility that we could see the same scenario play out in 2024. This sentiment is shared by private wealth management firm Bernstein, which recently published a report that cited increased ETF inflows and staking yield as potential tailwinds for the second-largest cryptocurrency.
In fact, recent ETH spot ETF data shows that the inflows have increased dramatically in recent weeks, reaching their highest inflow day of nearly $333 million on November 25th. BlackRock’s ETHA and Fidelity’s FETH logged the highest inflows, with $250 million and $79 million, respectively. It’s worth noting that that was the highest daily inflow figure since July.
From a technical analysis point of view, there are additional reasons to be optimistic about ETH. According to Cointelegraph, Ethereum is building towards “a similar symmetrical triangle pattern” that helped facilitate XRP’s 390% surge in recent weeks (from roughly $0.50 to around $2.90).
“If Ether price repeats XRP’s parabolic trend, it will likely climb toward the 1.618 Fibonacci retracement level at around $7,636. In other words, a 90% rally by December 2024 or January 2025,” noted the report. The report also highlighted Etheruem’s (relatively) low RSI of 67, which suggests that the currency has additional room for growth. For context, Bitcoin’s current RSI is 70.2, XRP’s sits at 75.7, and Cardano’s at 75.2.
5. EigenLayer
EigenLayer is an innovative protocol in the Ethereum ecosystem designed to enhance blockchain functionality by enabling restaking. It allows Ethereum validators to reuse their staked ETH as collateral for securing additional decentralized services, such as data availability, oracle networks, or bridges, fostering a dynamic layer of trust without requiring additional resources.
The project operates as a middle layer, connecting Ethereum’s secure base layer to various modular systems, improving scalability and interoperability. EigenLayer ensures security by leveraging the economic stake already locked in Ethereum’s proof-of-stake consensus, making it a cost-efficient solution for emerging blockchain projects.
By offering a platform for customizable security services, EigenLayer incentivizes innovation while maintaining decentralization. It supports the development of novel applications that require high security guarantees without overburdening Ethereum’s mainnet, creating opportunities for both developers and validators to contribute to the ecosystem while earning additional rewards.
Why EigenLayer?
EigenLayer has announced a new protocol upgrade that’s set to revamp the existing reward structure. Dubbed “Rewards v2,” the upgrade is reportedly set to bring “greater flexibility, efficiency, and customization to rewards within the EigenLayer ecosystem.”
According to the official blog post, the upgrade will roll out to the testnet on December 12th. The mainnet rollout will follow sometime in January, with the exact date not yet confirmed.
The upgrade will focus on three key areas – here’s how the team explained each of them:
- Operator-Directed Rewards: AVSs can reward Operators based on performance or custom logic
- Variable Operator Fees: Operators can set their own fee rates per AVS, providing economic flexibility and attracting diverse participation
- Batch Rewards Claiming: Stakers and Operators can claim multiple rewards in a single transaction, reducing gas costs
EigenLayer has been one of the biggest success stories in the DeFi space in 2024. Since the start of the year, the total value locked increased from “just” $1.34 billion in January to over $19.6 billion at the time of writing (per data from DeFi Llama). Meanwhile, the EIGEN token’s value nearly doubled in the past couple of weeks, from about $2.28 on November 21 to $4.51 on December 9.
6. XRP
XRP is a digital cryptocurrency that was created by Ripple Labs in 2012. It is used as a means of payment and transfer of value on the Ripple payment protocol, which is designed to enable fast and secure transactions between financial institutions as well as individuals.
XRP is unique in that it is not based on the blockchain technology used by many other cryptocurrencies. Instead, it uses a distributed consensus ledger called the XRP Ledger, which is maintained by a network of validators. This allows for faster transaction processing times and lower fees compared to traditional payment methods.
XRP has been popular among cryptocurrency traders and investors due to its high liquidity and clear potential for broader adoption, especially as a remittance solution. However, it has also been the subject of controversy and legal action, with US regulators alleging that it is a security and should thus be subjected to securities regulations. This has somewhat hindered the potential of XRP as an investment, and handcuffed Ripple’s growth as a company.
Why XRP?
After a long period of stagnation, XRP saw a massive market rally in the past couple of weeks, which pushed the price of the coin above $2 for the first time since 2017. At the time of writing, XRP is changing hands at $2.24, up more than 330% in the last 30 days. The massive price rally has helped XRP briefly overtake Tether as the third-largest cryptocurrency by market cap.
What speaks to the underlying strength of the recent market push is the fact that the price of XRP actually dipped below $1.30 during the previous weekend, and the XRP whales bought up the dip, pushing the price back toward the $1.50 resistance (according to the data from Santiment). Since then, the price jumped a further 50%.
There are a couple of reasons why XRP is in a very interesting position right now. For starters, several asset management firms are vying for an XRP spot ETF, which would allow institutional investors easier access to the coin. Firms that have filed their spot ETF applications with the SEC are 21Shares, Canary Capital, and Bitwise.
In addition to new trading products, there are other developments in the XRP ecosystem that are worth following. Ripple is preparing to launch its Ripple USD stablecoin, which could potentially shake up the stablecoin sector and present a challenger to Tether’s and USDC’s dominance. Ripple has already announced its stablecoin exchange partners, which include Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay, and Uphold.
It’s worth noting that the recent price rally does carry some risks. CryptoQuant analyst Maarten Regterschot noted in an X post that leverage is driving the XRP surge. “Open Interest is up 37% already—watch for volatility. The last similar event led to a -17% drawdown,” he noted.
7. Avalanche
Avalanche is a cryptocurrency and blockchain platform designed to provide high-speed, low-cost transactions for decentralized applications (dApps) and enterprise use cases. The Avalanche network is built on a DAG-optimized consensus mechanism called Avalanche, which uses a novel approach to achieving consensus among nodes on the network. This allows the network to process transactions quickly and efficiently, with the potential for over 4,500 transactions per second (TPS).
Avalanche uses its native token, AVAX, as a means of value transfer and to pay for transaction fees on the network. AVAX can also be staked by node operators to help secure the network and earn rewards in the form of additional tokens.
One of the key features of Avalanche is its support for interoperability between different blockchains, which allows for the transfer of assets and data between different networks. This is achieved through a technology called the Avalanche-X bridge, which enables cross-chain communication and allows developers to build dApps that can interact with multiple blockchains.
Why Avalanche?
The team has announced Avalanche9000, reportedly the most significant network upgrade to the Avalanche blockchain platform since its mainnet launch. The upgrade is slated to go online on November 25, according to the official X post.
The upgrade aims to make launching Layer 1 (L1) blockchains – formerly known as subnets – more economically feasible, customizable, and easier to maintain. The upgrade removes the previous requirement for validators to stake 2,000 AVAX tokens (approximately $90,700 at the time of writing) to operate their own L1 chain. Instead, validators will pay a continuous fee estimated between 1 to 10 AVAX per month, significantly lowering the barrier to entry.
In addition, the update will put greater control over their L1s into the hands of developers, who will have the ability to select custom gas tokens, implement flexible staking mechanisms, and design unique governance models. Finally, the upgrade will improve upon cross-chain communication and shared liquidity across different L1 blockchains within the Avalanche ecosystem.
The markets have responded very positively to the news, with the AVAX coin gaining more than 27% in the past week, outperforming many other major cryptos in the time period. Thanks to the recent price rally, AVAX now finds itself among the 10 largest cryptos by market capitalization.
8. Solana
Solana is a smart contract platform known for its distinctive architecture, enabling it to handle thousands of transactions per second while maintaining very low costs. It accomplishes this by using a combination of a unique Proof-of-History algorithm and a Proof-of-Stake consensus mechanism. SOL, the native cryptocurrency of the platform, is one of the cheapest to transfer, with users typically paying less than $0.001 per transaction.
Founded in 2018 by Anatoly Yakovenko, Solana’s mainnet went live in March 2020 and experienced a surge in adoption throughout 2021. Despite a significant drop in value during the 2022 bear market, Solana remains one of the most robust ecosystems in the cryptocurrency space and continues to be seen as a potential candidate for significant future growth.
Why Solana?
Solana has been on a tear lately, posting gains of nearly 50% in the past month. For comparison, that’s over three times the gains that BNB, one of its closest competitors, managed to accumulate in the same period.
However, the recent SOL surge is not driven primarily by speculative market action but is rooted in the large increase in decentralized trading activity. According to DeFiLlama, Solana currently controls about 46% of the DEX volume, nearly triple that of Ethereum, its closest competitor.
The data from Blockworks shows that users currently pay as much as $20 million in fees per day, which speaks to the chain’s clear economic value. What’s more, Solana is one of the cheapest chains overall, which makes this feat all the more impressive.
From a macroeconomic perspective, Solana could benefit from an influx of capital coming from institutional investors in the medium term. A number of large crypto investment firms, including VanEck, have filed their respective spot ETF applications with the SEC. If the agency approves these applications in the coming months, we could see a rise in SOL price reminiscent of Bitcoin spot ETF launch earlier this year.
9. Cardano
Cardano was founded by Charles Hoskinson, one of the co-founders of Ethereum, and his team. The main goal of Cardano is to provide a secure, scalable, and sustainable infrastructure for the development of decentralized applications (DApps) and smart contracts.
Cardano’s blockchain is built using a unique layered architecture, separating the settlement layer from the computation layer. This design approach aims to improve the efficiency, flexibility, and security of the platform. The settlement layer is responsible for handling transactions and maintaining the cryptocurrency (ADA) ledger, while the computation layer is used for running smart contracts and executing DApps.
The platform utilizes a consensus algorithm called Ouroboros, which is a type of proof-of-stake (PoS) mechanism. This means that validators (also known as stakeholders) are selected to create new blocks and validate transactions based on the amount of ADA they hold and are willing to “stake” as collateral.
Cardano has a strong focus on academic research and peer-reviewed development. The team emphasizes scientific rigor and evidence-based protocols to ensure that the platform is secure, scalable, and capable of handling complex use cases.
Why Cardano?
Cardano gained close to 35% in the past week, more than virtually any other cryptocurrency in the top 20 in the time period (except for DOT). What could be perceived as a notably bullish indicator is the fact that ADA is currently trading more than 81% removed from its all-time high. Compare that to BTC, which is trading at ATH, and ETH or SOL, which are less than 30% removed from their respective ATHs, and you quickly see why ADA should be on every inventor’s watchlist at the moment.
What’s more, Cardano developer Emurgo has partnered with BitcoinOS to allow Cardano DeFi to tap into the trillion-dollar Bitcoin liquidity without intermediaries. BitcoinOS is a smart contract operating system for Bitcoin that uses zero-knowledge proofs (ZKPs) to enable Bitcoin to scale efficiently without sacrificing decentralization or security.
The first step of the partnership will be the integration of the Bitcoin OS Grail bridge with Cardano, which will allow BTC and other assets on the Bitcoin blockchain to be trustlessly bridged over to Cardano. The Grail bridge employs zero-knowledge cryptography to enable Bitcoin users to transfer their BTC to other blockchains without relying on intermediaries.
After the integration, decentralized apps on Cardano will be able to tap into the massive $1.3 trillion liquidity on the Bitcoin blockchain. In practice, this means that BTC holders will be able to stake their BTC as collateral to borrow stablecoins and farm yield or engage in a number of other DeFi use cases.
In related news, Cardano founder Charles Hoskinson expressed enthusiasm about the collaboration, and stated that he plans to re-launch his Bitcoin Education Project next year.
10. ZCash
ZCash (ZEC) is a privacy-focused cryptocurrency that was launched in 2016 by Zooko Wilcox-O’Hearn. It is a fork of Bitcoin, designed to enhance privacy and anonymity for its users. Unlike Bitcoin, where transaction details (such as sender, recipient, and amount) are publicly visible, ZCash allows users to choose between two types of transactions: transparent and shielded.
Transparent transactions work similarly to Bitcoin, where all transaction details are recorded on the blockchain and visible to everyone. However, shielded transactions use a cryptographic technology called zk-SNARKs to allow fully private transactions. In shielded transactions, the details are encrypted, meaning that only the parties involved have access to the information, while the validity of the transaction is still verifiable by the network.
ZCash is particularly valued by those who prioritize financial privacy and security, as it offers optional anonymity in a way that few other cryptocurrencies do.
Why ZCash?
ZCash has experienced very strong market performance over the past couple of weeks, outperforming most of the other major cryptocurrencies. Since the start of October, the price rose from $25 to $39.
Coincidentally, several updates released over the last month might have played a role in ZEC’s impressive performance. On October 10, the world’s leading cryptocurrency exchange, Coinbase, announced support for TEX addresses for ZCash.
TEX addresses are ZCash addresses that were basically created as a response to “governments weaponizing money against protestors” and “stripping people of the human right of privacy.”
In addition, the team behind the privacy coin recently rolled out several updates for the Zashi wallet app. Some notable new features include an address book, QR code payments, a redesigned send tab, improved transaction history, and UI enhancements. For a complete changelog, make sure to check the official blog post.
In addition, several other notable improvement proposals are planned to go live in late November as a part of the 6.0.0 release, including new consensus rules for the ZCash development fund, revamped block reward allocation, and more.
11. Uniswap
Uniswap is a decentralized exchange (DEX) that runs on the Ethereum blockchain. It was created in 2018 by Hayden Adams, and it allows users to trade various cryptocurrencies without the need for an intermediary or central authority.
Uniswap uses an automated market maker (AMM) system, which means that there is no order book or centralized exchange to match buyers and sellers. Instead, liquidity providers (LPs) contribute funds to liquidity pools, which are used to execute trades. Traders can swap one cryptocurrency for another by exchanging tokens with the liquidity pool, which uses a mathematical formula to determine the exchange rate.
The native cryptocurrency of the Uniswap platform is UNI, which is used for governance and for providing incentives to liquidity providers. UNI holders can participate in platform governance, including proposing and voting on changes to the protocol.
In the six years since its launch, Uniswap has grown to become the most popular decentralized exchange in the cryptocurrency ecosystem, with billions of dollars in trading volume and a large community of users and developers.
Why Uniswap?
Uniswap developers Uniswap Labs have announced their plans for a layer-2 network that will run on Ethereum. The L2 solution will be called Unichain and will be built on Optimism’s OP Stack.
According to the developers, the new L2 will be incredibly fast and will easily facilitate token swapping across multiple blockchains. Here’s what the developers wrote on X:
Unichain will be so fast, transactions will feel instant. It launches with 1 second block times, with 200-250 millisecond sub-block times coming soon. This type of speed isn’t just great for UX, it also improves market efficiency and lowers value lost to MEV.
Uniswap’s L2 solution could save an immense amount of funds over the course of a year. According to DeFi Report founder Michael Nadeau, $368 million in fees was paid out to Ethereum validators last year alone. Nadeau said that the winners of Uniswap’s move to Unichain will be Uniswap Labs, UNI token holders, liquidity providers, and Optimis. Meanwhile, Ethereum validators, ETH holders, and L2s currently enabling Uniswap will end up on the losing side.
12. Dogecoin
Dogecoin, created in 2013 as a joke featuring the Shiba Inu from the “Doge” meme, rapidly evolved into a notable cryptocurrency. Developed by Billy Markus and Jackson Palmer, it aimed to be a more accessible alternative to Bitcoin with a larger, uncapped supply and lower transaction fees. Its primary use has been for online tipping and small transactions, supported by a vibrant community known for charitable activities.
Despite its humorous origins, Dogecoin gained serious traction, especially during the 2021 cryptocurrency boom, driven by social media and high-profile endorsements. Technically similar to Litecoin, it features faster transaction times due to shorter block times. This combination of community support and technical efficiency has maintained Dogecoin’s relevance in the volatile cryptocurrency market.
Why Dogecoin?
After mostly stale price movement in August and September, Dogecoin awakened with a vengeance in October, recording a 50% increase in the last number of weeks. A large reason for the notable increase was none other than Tesla and Space X CEO, who made several comments that were perceived as potential bullish signals by some DOGE investors.
In early October, Musk tweeted that “Doge will fix” it in response to a Los Angeles Times article reporting that California officials had blocked his SpaceX company from launching more rockets from the state. Musk was, of course, referring to a so-called Department of Governmental Efficiency, a proposed government efficiency commission that would be led by Musk in case ex-president Donald Trump wins the election.
However, the tweet was not interpreted as such by Dogecoin investors, and DOGE’s price jumped by more than 20% after the post went live on X.
But that was not the only time that Musk significantly impacted the price of the world’s largest meme coin this month. At a Pennsylvania rally in support of the Republican presidential nominee last week, the tech billionaire said he just likes Dogecoin. He added that he is not actively involved in crypto but that he likes humor and memes related to Doge. As one would expect, the price of the meme coin jumped significantly after these comments, reaching a 4-month high of about 15 cents.
Given that Dogecoin is clearly Musk’s favorite crypto and the prospects of him being heavily involved with the next US administration, it’s no wonder that many crypto investors believe that Doge is ready for a massive pump in 2025. Check the video below to learn more.
Best cryptocurrencies to buy at a glance
| Native Asset | Launched In | Description | Market Cap* | |
| Chainlink | LINK | 2019 | A decentralized oracle network | $3.40 bln |
| Bitcoin | BTC | 2009 | A P2P open-source digital currency | $2.04 tln |
| Fantom | FTM | 2018 | A high-performance layer-1 blockchain | $1.44 bln |
| Ethereum | ETH | 2015 | The leading DeFi and smart contract platform | $371 bln |
| EigenLayer | EIGEN | 2023 | Ethereum restaking protocol | $840 mln |
| XRP | XRP | 2012 | The leading crypto remittance solution | $64.4 bln |
| Avalanche | AVAX | 2020 | A leading “Ethereum killer” | $18.5 bln |
| Solana | SOL | 2020 | Smart contracts platform with high speeds and low fees | $115 bln |
| Cardano | ADA | 2017 | One of the largest blockchain ecosystems | $25.7 bln |
| ZCash | ZEC | 2016 | Privacy-focused cryptocurrency | $607 mln |
| Uniswap | UNI | 2018 | The largest decentralized trading protocol | $5.41 bln |
| Dogecoin | DOGE | 2013 | The original meme coin | $53.9 bln |
Best crypto to buy for beginners
If you are just starting out in crypto, it is advisable to stick to cryptocurrency projects that are less prone to volatility and are generally more established. While this approach does have a downside, as it becomes much more difficult to expect triple-digit or larger gains, the major upside is that you are not exposed to projects that have a chance of failing and, thus, losing your entire investment.
In order to identify projects that are stable and thus feature low volatility, you can start by following the parameters listed below:
- The crypto asset has a market capitalization that places it into the cryptocurrency top 100 (roughly $1 billion as of late 2024)
- The crypto asset is available for trading on the best crypto exchange platforms and can be exchanged for fiat currencies
- The crypto asset boasts healthy liquidity ($100M/day and more), which allows you to execute buy and sell orders quickly and without slippage
- The crypto asset is part of a reputable crypto project with clear goals, a realistic roadmap, and products and services that look to address real-world problems
Some of the best cryptos to buy for beginners are those that follow the above criteria and have earned their standing in the crypto market due to robust security, popular products and services, and clear growth potential. Some beginner-friendly crypto investments are:
- Bitcoin
- Ethereum
- Litecoin
- Cardano
- BNB
It is worth noting that cryptocurrency investments are inherently risky, even if you stick to the biggest and most reputable projects. The reason for this is simple – the crypto sector is relatively new, and the landscape might look completely different in the future.
Best crypto for long-term
When deciding which cryptocurrency to buy for the long term, it’s important to consider projects that are well-established, have a strong community, are highly liquid, have a large market cap, and have a clear reason for existing (such as solving a real-life problem, introducing new functionality, etc.). Without these characteristics, a project might fail to survive in the long term, rendering it a bad long-term investment.
It is worth noting that, typically, most long-term crypto investors are looking for projects that have the potential to generate decent returns but also provide a degree of investment stability. Roughly speaking, only the largest cryptocurrencies fit the bill, as others have a low market cap and liquidity that doesn’t bode well for a long-term commitment (unless you’re prepared to take on more risk).
In addition to Bitcoin and Ethereum, there are a number of other cryptocurrencies that fit the criteria of being low-risk, long-term crypto investments.
If you are planning to hold onto your digital assets for a longer period of time, it is best to take care of crypto custody yourself. Holding large amounts of crypto on an exchange can be risky, as we’ve seen over the years with the collapse of high-profile exchanges like Mt. Gox and FTX. Use one of the reputable crypto hardware wallets to store your crypto. Ledger hardware wallets, for instance, allow you to manage your crypto holdings easily and provide a much higher degree of security than crypto exchanges or even software crypto wallets.
Best place to buy crypto
One crucial aspect to consider when choosing which platform to use to buy crypto is the range of cryptocurrencies and trading pairs available. Since different exchanges support varying digital assets, it’s important to choose a platform that accommodates the specific cryptocurrencies you intend to trade.
Additionally, assessing an exchange’s liquidity and trading volume is essential. Higher liquidity generally results in improved price stability and faster trade executions. Furthermore, it is prudent to examine the fees charged by the exchange, encompassing deposit, withdrawal, and trading fees. Comparing fee structures across different exchanges can help you identify the most cost-effective option that aligns with your trading style. With that said, here are some of the best exchanges on the market right now:
- Binance – The best cryptocurrency exchange overall
- KuCoin – The best exchange for altcoin trading
- Kraken – A centralized exchange with the best security
By diligently considering these factors, you can make an informed decision and select a cryptocurrency exchange that meets your requirements for security, variety, liquidity, and affordability.
How we choose the best cryptocurrencies to buy
At CoinCheckup, we provide real-time prices for over 22,000 cryptocurrencies, with the list growing by dozens each day. As you can imagine, making a selection of a dozen top cryptocurrencies to buy out of such an immense dataset can be difficult and will for sure lead to some projects that should be featured being omitted. To minimize the chance of that happening, we follow certain guidelines when trying to identify the best cryptocurrencies to invest in.
Availability
One of the most important factors for any cryptocurrency investment is the crypto asset’s availability, meaning how easy it is to buy and sell it across various cryptocurrency exchanges. We tend to stay away from assets that are not available on major exchanges and require complex procedures to obtain.
Market Capitalization
Another important metric for identifying whether a crypto project is worth covering its market cap. A high market cap means that the project has reached a certain level of adoption from users, making it less risky to invest in.
Growth Potential
While this metric is mostly subjective, it is still an important metric on which we curate our selection. We won’t feature projects that we think are stagnating or have no real upside in the future.
Purpose and Use Case
We consider the purpose and use case of cryptocurrency, particularly in a real-world setting. Some cryptocurrencies focus on specific industries or applications, such as decentralized finance, gaming, or supply chain management.
Team and Development
The team and people involved in the project can tell you a lot about the potential of a particular cryptocurrency project. We examine the team’s experience, expertise, and track record and evaluate the development activity and updates to ensure the project is actively maintained and evolving.
The bottom line: What crypto should you buy right now?
The decision of which crypto to buy now is dependent on your own risk profile and investment goals. For some, investing in a crypto asset with a proven track record like Bitcoin is the only type of exposure to crypto they are willing to take on.
Meanwhile, those with a higher risk tolerance might see Bitcoin as too stable, looking instead toward newer and smaller projects that carry a higher degree of upside.
If you are looking for more investment ideas, check out our crypto price predictions section.
