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 October 2024:
- Ethereum – The leading DeFi and smart contract platform
- Aave – The biggest DeFi lending protocol
- Sui – Robust and highly scalable L1 blockchain
- Celo – Stablecoin-optimized blockchain ecosystem
- Aptos – Highly performant L1 blockchain
- Bitcoin – The world’s oldest and largest crypto
- Solana – Smart contracts platform with high speeds and low fees
- Toncoin – A blockchain platform integrated with the Telegram messenger
- Maker – The DeFi protocol behind the Dai stablecoin
- Polygon – A leading crypto scaling ecosystem
- Shiba Inu – A leading meme coin project
- Optimism – Highly scalable DeFi ecosystem
The 12 best cryptos to buy right now: Discover top investments for October 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. 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?
The community, more precisely Illyriad Games co-founder Ben Adams, has announced a new Ethereum Improvement Proposal, EIP-7781. The new proposal aims to reduce block time by half, bringing it from 12 to 8 seconds.
To achieve a faster block time, Adams proposes reducing roll-up latency and distributing bandwidth usage over time to lower peak bandwidth requirements and maintain network efficiency.
According to Ethereum developer Justin Drake, the improvements could make Ethereum-based exchanges like Uniswap more than 1.2 times more efficient, which would save $100 million in arbitrage costs per year.
“It will make DEXes like Uniswap v3 roughly sqrt(12/8) ≈ 1.22x more efficient, saving roughly $100M in CEX-DEX arbitrage per year and ultimately leading to better execution for users.”
In addition to promising blockchain developments, Ethereum could be a good buy right now due to the very large discrepancies in price performance between BTC and ETH in recent months. Whereas Bitcoin gained as much as 47% since the start of the year, ETH gained just 6% in the same period. It could very well be the case that Etheruem’s rally is just around the corner.
2. Aave
Aave is a decentralized liquidity protocol that utilizes smart contracts to enable users to either borrow crypto assets or earn interest on their holdings in a decentralized fashion. While Aave operates as a series of smart contracts on a blockchain, most users engage with the protocol through interfaces like app.aave.com.
As of now, Aave allows users to earn a yield on roughly 20 different cryptocurrencies. Typically, stablecoins like USDT, USDP, and TUSD offer the highest returns. The yields available through Aave are influenced by market demand—when there’s high demand for borrowing a specific asset, the APY for those supplying that asset increases.
Additionally, Aave provides a staking option for holders of its AAVE governance token. This feature allows AAVE holders to earn yield while also enhancing the security of the Aave protocol. Originally launched on the Ethereum blockchain, Aave has since expanded to other platforms, including Avalanche, Optimism, Polygon, and Arbitrum.
Why Aave?
Crypto investment giant Grayscale has launched a new fund that provides exposure to Aave’s AAVE token, marking another addition to the company’s lineup of cryptocurrency products. Aave has become the largest cryptocurrency lending protocol by total value locked (TVL), according to DeFiLlama. At the time of writing, Aave has a TVL of $12.6 billion.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, stated that the Grayscale Aave Trust enables investors to engage with a protocol that has the potential to transform traditional finance through blockchain technology and smart contracts, thereby optimizing lending and borrowing processes.
This launch follows Grayscale’s recent introduction of the Avalanche Trust, which offers exposure to the AVAX token. The firm now manages over 20 cryptocurrency investment products, a portfolio that has expanded significantly since the launch of spot Bitcoin ETFs in January.
3. Sui
Sui is a layer 1 blockchain focused on scalability and high throughput. Thanks to its robust performance, Sui is positioned to become one of the leading chains in the Web3 and NFT space, challenging the likes of Ethereum and Solana.
Smart contracts on the Sui blockchain are written in the Move programming language, a language developed by a team of Facebook developers who worked on the Diem stablecoin project. Move was first prominently used by the Aptos team, which features a lot of individuals who worked on the Diem project before it was shut down.
The native token of the Sui blockchain is called SUI. The token is used to pay gas fees for transactions, staking, and compensating validators for securing the network, for funding Sui’s storage fund, and for the Sui ecosystem governance.
Why Sui?
The Sui token has been a very strong performer in the past month, recording a 120% upswing amid relatively poor market conditions. There have been several developments in the Sui ecosystem that could be responsible for investors’ optimism regarding the token.
An important development was definitely the launch of USDC stablecoin on the Sui blockchain in September, which made it easier for investors to deposit and withdraw funds using Sui dApps. The launch of the second most popular stablecoin on the blockchain helped spark an investor frenzy among Sui meme coin buyers. On October 7 alone, the market cap of Sui meme coins rose by 26% to $302 million, according to CoinGecko.
In addition, the Sui team announced last month that they will be selling a “first-of-its-kind” web3 gaming device dubbed SuiPlay0X1. The handheld device – which is similar to the popular Steam Deck – is powered by the AMD Ryzen 7 7840U CPU and comes with a 512 gigabyte SSD. It has 16 GB of RAM and a 7” full HD display. The device will cost $599 and will start shipping in the first half of 2025.
In other related news, 3DOS has partnered with Sui to create a decentralized 3D printing network, enabling users and manufacturers to connect globally for on-demand, local production. Sui acts as the coordination layer, synchronizing real-time production needs and resources. This integration aims to transform the $15.6 trillion manufacturing market by reducing costs, eliminating waste, and empowering local economies.
Finally, it’s worth noting that the Sui team recently significantly improved the way the network handles transactions. According to the blog post, Sui’s shared object congestion control introduces a new system to manage high-demand transactions more efficiently. It prioritizes transactions with higher gas fees and prevents delays by limiting the number of transactions affecting congested, or “hot,” shared objects. The new design allows for deferring and canceling transactions, improving execution order and preventing bottlenecks.
4. 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?
The U.S. Federal Reserve recently announced a 0.5% reduction in interest rates, which had a positive effect on many risk assets, including Bitcoin. This boost in momentum propelled Bitcoin above the $60,000 mark, with the price peaking locally at around $66,400. While there has been a slight pullback, Bitcoin has retained most of its gains, with the price hovering close to $63,600 at the time of writing.
Another significant event for Bitcoin markets came on September 21st, when the SEC (Securities and Exchange Commission) gave the green light to physically settled options contracts based on BlackRock’s IBIT spot Bitcoin ETF. However, it’s important to note that this product still awaits approval from the OCC (Options Clearing Corporation) and the CFTC (Commodity Futures Trading Commission).
This development is seen as bullish for Bitcoin, as the introduction of Bitcoin ETF options is expected to attract more institutional investors to the market. These options will provide institutional players with a new method for managing their Bitcoin exposure, offering them a fresh hedging opportunity.
Another development that could be seen as bullish for BTC is the expected rate cut for November. According to data tracked by CME Group, just a hair over 52% of traders believe that the Fed will bring down rates to 425-450 bps during the next meeting, which would be another 0.5% reduction in interest rates.
5. Celo
Celo is a blockchain platform designed to make decentralized financial (DeFi) tools and services accessible via mobile devices. Launched in 2020, its primary goal is to foster global financial inclusion by leveraging smartphone technology, especially in developing regions where access to traditional banking services is limited.
Celo’s blockchain is based on a proof-of-stake (PoS) consensus mechanism, which ensures energy efficiency and scalability. It supports smart contracts and decentralized applications (dApps), enabling developers to build financial services that can be accessed by anyone with a mobile phone.
A key feature of Celo is its support for stablecoins, like Celo Dollar (cUSD) and Celo Euro (cEUR), which are pegged to fiat currencies, helping to reduce volatility. The native token, CELO, plays a vital role in governance and network security, allowing holders to vote on protocol upgrades and changes.
Why Celo?
Celo recently pulled off an impressive feat, surpassing the Tron blockchain in terms of daily active addresses using stablecoins. Data from Artemis shows that all kinds of transfer sizes are growing, “indicating it’s not addresses spamming the network making very small transactions.”
What’s perhaps most indicative of Celo’s robust stablecoin growth trend is that Tether, the company behind the most popular stablecoin in the market, recently preminted $200 million worth of USDT on Celo.
Speaking about the recent success of Celo, Ethereum founder Vitalik Buterin noted how the project’s ongoing transition from a Layer 1 to a Layer 2 blockchain is to thank for the robust growth. “This is amazing to see. Improving worldwide access to basic payments/finance has always been a key way that ethereum can be good for the world, and it’s great to see @Celo getting traction,” Buterin wrote on X.
It’s worth noting that CELO, the native governance token of the Celo blockchain, showed remarkable market performance in the past couple of weeks. CELO is up more than 40% in the past month and 25% in the past week alone.
6. Aptos
Aptos is a Layer 1 blockchain launched by a team of former Diem stablecoin engineers. After Meta’s inability to launch its own stablecoin solution, some members of the Diem team used their expertise and new technologies to establish Aptos.
While Aptos was first founded in 2019, it wasn’t until October 2022 that its mainnet went online, thus making Aptos one of the youngest projects on our list. Perhaps thanks to the high pedigree of the Aptos team or the community’s interest in the promised 100,000 TPS claim, the Aptos ecosystem quickly rose through the ranks and became one of the most popular blockchain solutions.
Thanks to its high transactional throughput, Aptos attracted a great deal of interest, primarily from NFT creators and collectors. However, several other decentralized applications found their way to Aptos as well, such as PancakeSwap and Aries Markets, the largest dApp on Aptos in terms of TVL.
Why Aptos?
Aptos has seen remarkable ecosystem growth in the past couple of months. The blockchain recently surpassed 3.6 million monthly active accounts, peaking at 435,000 daily active accounts in mid-September. According to data from TheBlock, the number of active addresses on Aptos more than quintupled in the past 12 months, from 63,000 to 341,000.
The total value locked (TVL) across various decentralized finance (DeFi) protocols on Aptos also saw a tremendous increase in the same time period, having increased from $43 million to $548 million over the past year. According to DeFiLlama, decentralized trading platforms Aries Markets, Amnis Finance, and Thala are the most responsible for the massive TVL growth.
Meanwhile, the Aptos team has recently announced the second version of its programming language, Move 2. According to the team, the new update was “designed to make writing DeFi applications easier.” To achieve that, there are several important updates coming with the new Move version, such as a new compiler, VM, and dev tools.
However, Move 2 is not the only thing in the development pipeline. The team is also working on Raprt, a new consensus with minimal latency, and Block STM v2, a next-gen parallelism processing engine that can scale beyond 256 cores.
7. 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?
It’s been an exciting week for Solana, largely due to the Breakpoint conference held in Singapore from September 20 to 21. Several major announcements during the event highlighted that the Solana ecosystem is thriving and will be worth watching closely in the coming weeks and months.
Perhaps the most significant news from the conference was the launch of the Firedancer Solana client prototype on the mainnet. This prototype, called “Frankendancer,” is laying the groundwork for a full Firedancer rollout, which is expected to substantially enhance Solana’s already impressive scalability.
In addition to the “Frankendancer” debut on mainnet, the complete Firedancer client has been deployed on the testnet, marking another important milestone for the project.
Another exciting development for Solana is the announcement from Solana Mobile of a new crypto-friendly smartphone, the Seeker. The Seeker, a successor to the Saga phone introduced in 2023, is slated for release in mid-2025, with 140,000 pre-orders already placed. The phone is currently available for pre-order at $500, but the price is expected to increase in the next phase of pre-orders.
8. Toncoin
Toncoin is a blockchain project that continues the development of a platform originally created by the team behind the Telegram messaging app. Although Telegram had to step away from the project due to legal issues with U.S. securities regulators, community members recognized the potential in Telegram’s blockchain concept and revived it under the name Toncoin.
The project is now driven by the TON Foundation, an organization with no formal ties to Telegram. However, the Telegram team is integrating several blockchain-based solutions into their app, including the TON Space wallet, which is now accessible to Telegram users.
On the technical side, Toncoin is a scalable blockchain that supports smart contracts and operates on a Proof-of-Stake consensus mechanism. Interestingly, its initial token distribution was conducted through a Proof-of-Work model to ensure a fair launch.
Why Toncoin?
The Toncoin ecosystem is currently experiencing rapid growth, largely driven by the viral success of Telegram-based games, many of which are preparing to distribute token airdrops to their players via the TON Blockchain.
One of the most prominent examples is Hamster Kombat, which is set to launch its own token, HMSTR, soon. On September 26, Binance will introduce the HMSTR token following the conclusion of the Hamster Kombat campaign on Binance Launchpool.
Another significant development came on September 20 with the launch of CATI, a token linked to the Telegram-based mini-game Catizen. The CATI token is now live on both the TON Blockchain and the Mantle layer 2 platform.
In addition, the Toncoin ecosystem saw a major financial boost as the Bitget cryptocurrency exchange and Foresight Ventures announced a $30 million purchase of Toncoin from large holders. According to a statement made to CoinDesk, the purchased tokens come with a vesting period, indicating a long-term commitment to the growth and stability of the TON ecosystem.
“All TON tokens acquired have a lock-up period and will be gradually released according to the vesting scheme to ensure that all parties are committed to the TON ecosystem for the long term.”
9. Maker
Maker is a decentralized finance protocol on the Ethereum blockchain that issues and manages Dai, a decentralized stablecoin pegged to the US dollar. Users that hold assets that are supported as collateral (for example, ETH) can lock their coins into Maker’s smart contracts in order to issue Dai.
The system is overcollateralized—in order to mint Dai, users need to provide collateral that exceeds the value of minted Dai, and users are required to monitor the value of their collateral in order to avoid liquidation.
The MKR token is used as the governance token for the Maker, a decentralized autonomous organization that oversees the Maker protocol.
Maker was founded in 2014 by Rune Christensen, and the Dai stablecoin was launched in late 2017. Initially, the Maker protocol only supported ETH as collateral. With the launch of Multi-Collateral Dai in 2019, it also became possible to use other forms of collateral. Today, Dai is backed by a diverse range of assets, including ETH, (wrapped) BTC, USDC, USDP, and many others.
Why MakerDAO?
Maker is rebranding to Sky, a move that will see one of the oldest DeFi protocols revamp its products and services offering. Here’s a quick rundown of changes that the rebrand encompasses:
- Maker Protocol is now Sky Protocol.
- MKR token is now SKY token.
- USDS is an upgraded version of the DAI decentralized stablecoin.
- Sky Stars are decentralized projects within the Sky ecosystem that serve as a gateway to the Sky Protocol.
- Sky.Money is a non-custodial and permissionless gateway to the Sky Protocol.
The team has revealed that MKR will be upgraded to SKY on September 18th at a conversion rate of 1:24,000. With the price of MKR currently being around $1,525, a single SKY token should be worth about 6 cents post-upgrade. Meanwhile, USDS will retain its USD peg, meaning that DAI will be exchanged for USDS at a 1:1 ratio. Holders will have the option to voluntarily choose whether to keep their old tokens or exchange them for new ones.
10. Polygon
Polygon, formerly known as Matic Network, is a Layer 2 scaling solution for Ethereum that aims to provide faster and cheaper transactions while maintaining the security and decentralization of the Ethereum network.
Polygon uses a PoS consensus mechanism to validate transactions, which reduces the energy consumption and environmental impact of the network compared to the PoW consensus, which is most prominently used by Bitcoin. By using Polygon, developers can build and deploy dApps with lower fees, faster transaction speeds, and a better user experience.
The native cryptocurrency of Polygon is MATIC, which is used for transactions, staking, and governance on the network. MATIC is an ERC-20 token, meaning it runs on the Ethereum blockchain and can be stored in any wallet that supports ERC-20 tokens.
Polygon has gained popularity in the cryptocurrency industry as a solution to Ethereum’s scalability issues and has been adopted by various dApps, including Aave, Sushiswap, and Curve Finance. The network has also partnered with other blockchain projects, including Polkadot and Chainlink, to enable cross-chain interoperability.
Why Polygon?
The migration of the native MATIC token to the POL token has started, marking the long-awaited technical upgrade of the token. The MATIC token can be converted to POL at a 1:1 ratio. The upgrade will go live on September 4.
If you’re holding MATIC on Polygon PoS, no action from the user is required, as the token migration will be handled automatically. MATIC holders on Ethereum can use the migration tool to manually upgrade their tokens to POL. Meanwhile, centralized exchanges will handle the transition as they see fit, so it’s best to follow their official channels for details.
Here’s what the team wrote about the POL migration in the official post:
“The technical upgrade from MATIC to POL marks a critical juncture for Polygon networks, enhancing utility and aligning with the vision of Polygon as an aggregated network of blockchains. In the initial phase, POL succeeds MATIC as the native gas and staking token for the Polygon PoS network.”
According to Polygon, POL will eventually become the native digital asset for AggLayer, a blockchain system that aims to unite ZK-secured layer 1 and layer 2 chains and foster seamless operations. In their blog post, Polygon has likened AggLayer to the invention of TCP/IP, which created a seamlessly unified Internet. AggLayer’s goal is to do the same for the blockchain space.
11. Shiba Inu
Shiba Inu is a cryptocurrency that was created in August 2020 by an anonymous person or group of people under the pseudonym “Ryoshi”. It is an ERC-20 token on the Ethereum blockchain, which means it is a digital asset that is compatible with the Ethereum network and can be stored in any wallet that supports ERC-20 tokens.
Shiba Inu gained popularity in 2021 after it was listed on several cryptocurrency exchanges and gained attention on social media platforms like Twitter and Reddit. In fact, SHIB’s 2021 run is still one of the most impressive runs in crypto history, as the meme coin gained over 430,000x in a span of the year. It is often compared to Dogecoin, another meme-inspired cryptocurrency, as it features the Shiba Inu dog breed as its mascot.
However, unlike Dogecoin, the project aims to create a decentralized ecosystem for a variety of use cases, including decentralized exchanges, NFTs, and more. The development team has also created a Shiba Inu-themed decentralized exchange called ShibaSwap.
Why Shiba Inu?
LUCIE, the marketing lead behind the Shiba Inu project, has announced the upcoming launch of a decentralized autonomous organization (DAO). “While the DAO hasn’t been fully implemented yet, its introduction will mark a major milestone, giving Shibizens more control over decisions that impact the ecosystem,” she wrote in the post on X.
According to LUCIE, SHIB’s governance under the DAO structure will be handled by the Charity Council and the Culture & Heritage Council, although their specific roles are currently not known. “These councils will steer community initiatives, from charitable outreach to preserving the unique culture that defines Shib,” LUCIE wrote.
Interestingly, the announcement of the new DAO marks exactly one year since the launch of Shibarium, a layer 2 solution for the Shiba Inu ecosystem. In the first year, the protocol processed 418 million transactions, although the number of daily transactions dipped over the past couple of months.
With last year’s launch of Shibarium and the upcoming rollout of the DAO governance, Shiba Inu is rapidly becoming the most versatile community-led decentralized finance (DeFi) ecosystem in the industry.
12. Optimism
Optimism is a layer-2 scaling solution for the Ethereum blockchain that uses optimistic rollups to increase the speed and lower the cost of transactions on the network.
Optimistic rollups are a type of sidechain that allows for the processing of a large number of transactions off-chain before committing them to the main Ethereum network. This approach significantly reduces transaction fees and speeds up the processing of transactions on the Ethereum network.
Optimism aims to improve the Ethereum ecosystem by reducing the high gas fees associated with transactions, which have been a significant bottleneck for the adoption of decentralized applications (dApps) on the Ethereum blockchain. It does this by enabling faster and cheaper transactions while still maintaining the security and trustlessness of the Ethereum network.
Last year, the Optimism team launched the project’s native token Optimism (OP), a governance token for the Layer 2 network that gives holders participation rights in The Optimism Collective. The Collective is a two-tier governance system composed of the Token House (overseeing technical decisions related to Optimism) and the Citizens’ House (overseeing funding decisions).
Why Optimism?
Optimism has announced that the Sony-led Soneium project has launched on the Optimism Superchain. Soneium is a new Ethereum Layer 2 blockchain being developed by Sony Block Solutions Labs, a joint venture between Sony Group and Startale. It is built using the OP Stack, which is the underlying technology of Optimism.
Soneium is designed as a versatile, general-purpose network aimed at bridging the gap between traditional Web2 applications and emerging Web3 technologies. Its primary focus is on empowering developers, creators, and communities, with an emphasis on applications in entertainment, gaming, and finance. Soneium is planned to be a public blockchain that will be part of the Optimism Superchain, a network of interconnected blockchains that share a common codebase.
It’s worth noting that another event that could have a notable impact on the market performance of the OP token is the planned token unlock. At the end of this month (Aug 31), roughly $49 million worth of Optimism tokens will be unlocked. This will likely have a deflationary effect on the price of OP, which could provide investors with an opportunity to buy tokens at lower price levels.
Best cryptocurrencies to buy at a glance
| Native Asset | Launched In | Description | Market Cap* | |
| Celo | CELO | 2017 | Stablecoin-optimized blockchain ecosystem | $349 mln |
| Aptos | APT | 2022 | Highly performant L1 blockchain | $3.95 bln |
| Bitcoin | BTC | 2009 | A P2P open-source digital currency | $1.25 tln |
| Solana | SOL | 2020 | Smart contracts platform with high speeds and low fees | $67.05 bln |
| Toncoin | TON | 2021 | A blockchain platform integrated with the Telegram messenger | $14.38 bln |
| Maker | MKR | 2015 | The DeFi protocol behind the Dai stablecoin | $1.48 bln |
| Sui | SUI | 2023 | Robust and highly scalable L1 blockchain | $3.59 bln |
| Polygon | MATIC | 2017 | A leading crypto scaling ecosystem | $2.27 bln |
| Ethereum | ETH | 2015 | The leading DeFi and smart contract platform | $318 bln |
| Shiba Inu | SHIB | 2020 | A leading meme coin project | $8.50 bln |
| Optimism | OP | 2022 | Highly scalable DeFi ecosystem | $2 bln |
| Aave | AAVE | 2020 | The biggest DeFi lending protocol | $1.05 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 $550 million as of early 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.
