The Next Big Cryptocurrencies To Invest In

With the crypto market experiencing remarkable growth in 2024, institutional adoption on the rise, and prices surging, it's no surprise that investors are keen to know which cryptocurrencies are worth investing in.

While Bitcoin and Ethereum remain the most popular cryptocurrencies by market capitalization, user base, and popularity, there are thousands of other cryptocurrencies, or altcoins, to choose from.

Some of the cryptocurrencies to watch in 2024 include Render Token, a rendering network that allows users to rent out extra GPU power; Solana, a blockchain with blazing-fast speeds and low transaction fees; and Superintelligence Alliance, a merger of three popular AI cryptos.

Other cryptocurrencies with potential include Toncoin, which broke into the top 10 cryptocurrencies by market cap in 2024; Binance Coin, the native token on the world's largest cryptocurrency exchange; and Cardano, which has a smaller footprint and takes less energy to complete transactions.

It's important to remember that investing in cryptocurrency is risky due to its volatility, and it's essential to do your research before investing in any crypto project.

The best new cryptocurrencies to invest in

Bitcoin (BTC)

Bitcoin is the oldest cryptocurrency and it still dominates the market with a 40% share in the total cryptocurrency market cap. It is the biggest cryptocurrency and has performed incredibly well over the last year. If you're looking to invest in Bitcoin, you need to stay up to date with the latest news and trends around it. When news is released about a new technical improvement, you might want to think about buying Bitcoin. If there is a huge fall in the price of Bitcoin, then that too might be a good time to buy because you can buy it at a low price.

Ethereum (ETH)

Ethereum is the second-largest cryptocurrency by market capitalization after Bitcoin. It is a more advanced blockchain project that offers something special — by using Ethereum’s platform, developers can build their own cryptocurrencies. Ethereum grew by about 3000% in the year 2017 and became the second-largest cryptocurrency. If you're looking to invest in Ethereum, you should think about adding it to your list as it could be one of the best cryptocurrencies to invest in.

Ripple (XRP)

Ripple is the third-largest cryptocurrency by market capitalization. It is not just a digital currency, but also a payment system. Ripple uses blockchain technology to make international payments faster and more secure. Many large financial institutions like American Express, JP Morgan and Santander are already using Ripple’s technology. If you're wondering how to invest in blockchain, then Ripple might be the best answer.

Litecoin (LTC)

Litecoin is the fifth-largest cryptocurrency with a market cap of around $11 billion. Litecoin completes a transaction four times faster than Bitcoin. It was the first cryptocurrency to perform a Lightning Network transaction in May 2017. Using the Lightning Network, 0.00000001 Litecoin was transferred from Zurich to San Francisco in under one second! Once Litecoin starts using the Lightning Network, it could increase the price of Litecoin.

Binance Coin (BNB)

Binance Coin is a utility token. Its value comes from how useful it is (and how much demand there is for its utility) within the Binance ecosystem. Binance is one of the world’s fastest-growing exchanges. Because Binance Coin is used to pay for transactions on the exchange and for many other purposes, BNB is one of the fastest-growing cryptocurrencies in terms of trade volume.

Tether (USDT)

Tether is a stablecoin whose value follows the USD. It is one of the top cryptocurrencies right after BTC and ETH and the number one stablecoin in the market with a cap of $83 million. This makes the coin highly recommended for investors.

How to invest in new cryptocurrencies

Investing in new cryptocurrencies can be a risky business, but it can also be rewarding. Here is a step-by-step guide on how to invest in new cryptocurrencies:

Step 1: Research

First, you need to research the vast array of cryptocurrencies available. It is important to look beyond the flashy ICO adverts and instead focus on the utility of the cryptocurrency. Ask yourself: What problem is this cryptocurrency trying to solve? Is it constantly being used, transferred, and traded? What is its market cap, price, and volume? Does it have enough trading volume to sell quickly if needed?

Step 2: Choose a Cryptocurrency Exchange

Once you have identified a few potential cryptocurrencies to invest in, the next step is to choose a cryptocurrency exchange. Some popular options include Coinbase, Binance, Crypto.com, Gemini, and Kraken. It is important to use a reputable, well-known exchange with a large selection of currencies.

Step 3: Set Up an Account

After choosing an exchange, you will need to set up an account. This typically involves providing personal information and verifying your identity. Some exchanges may also require you to set up a wallet, either through the exchange or an independent wallet provider, to store your cryptocurrency.

Step 4: Fund Your Account

Before you can start buying cryptocurrency, you will need to fund your account with fiat money, such as U.S. dollars. You can then decide which cryptocurrency or cryptocurrencies you want to invest in and place a buy order through the exchange.

Step 5: Monitor and Manage Your Investments

It is important to periodically review your crypto investments and assess the need to rebalance your portfolio. Cryptocurrencies are highly volatile, so you should be prepared for potential losses as well as gains. Additionally, pay attention to transaction fees, as these can vary widely among currencies.

Step 6: Consider Other Investment Options

Besides buying cryptocurrencies directly, there are other ways to invest in this asset class. You can invest in cryptocurrency companies, such as mining companies or hardware makers, or in companies with partial crypto focus, like Robinhood or PayPal. You can also invest in cryptocurrency-focused funds, such as ETFs, or in a cryptocurrency Roth IRA.

Step 7: Stay Informed

The cryptocurrency space is constantly evolving, with new coins and tokens emerging regularly. To make informed investment decisions, it is important to stay up to date on the latest news and developments in the crypto world. This includes keeping an eye on social media platforms like Twitter and Telegram, which are often the first to break news about new coins or developments.

In summary, investing in new cryptocurrencies involves careful research, choosing a reputable exchange, setting up and funding an account, and then monitoring and managing your investments over time. It is important to be aware of the risks and volatility inherent in the crypto market and to only invest what you can afford to lose.

New cryptocurrencies with the highest potential upside

Ethereum (ETH)

Ethereum is a decentralised software platform that enables smart contracts and decentralised applications (dApps) to be built and run without any downtime, fraud, control, or interference from a third party. It is the second-largest cryptocurrency by market capitalisation, after Bitcoin. Ethereum's blockchain recently transitioned to a proof-of-stake (PoS) validation method, which is less energy-intensive and allows the blockchain to scale better.

Tether (USDT)

Tether is a stablecoin whose value is pegged to the US dollar, reducing volatility. It is the third-largest cryptocurrency by market capitalisation. Tether describes itself as "a blockchain-enabled platform... to make it easier to use fiat currency digitally".

Cardano (ADA)

Cardano is an "Ouroboros proof-of-stake" cryptocurrency created by engineers, mathematicians, and cryptography experts. It aims to be the world's financial operating system by establishing DeFi products. Cardano has been dubbed an "Ethereum killer" because its blockchain is said to be capable of more.

Solana (SOL)

Solana is a blockchain platform designed to support decentralised applications (dApps). It is often referred to as an 'Ethereum killer' as it performs more transactions per second than Ethereum and charges lower transaction fees. The cryptocurrency running on the Solana blockchain is called Solana (SOL).

Dogecoin (DOGE)

Dogecoin, seen by some as the original "memecoin", is a cryptocurrency that uses an image of the Shiba Inu as its avatar. It is accepted as a form of payment by some major companies. Dogecoin has been able to maintain its spot as the top memecoin in past bull and bear markets.

Binance Coin (BNB)

Binance Coin (BNB) is a utility cryptocurrency that operates as a payment method for fees associated with trading on the Binance Exchange. It is the third-largest cryptocurrency by market capitalisation. Binance Coin's blockchain is also the platform on which Binance's decentralised exchange operates.

Honourable Mentions:

• XRP (XRP) is the native token for the XRP Ledger, created as a payment system by Ripple in 2012.
• USD Coin (USDC) is a stablecoin backed by the US dollar.
• Litecoin (LTC) is one of the first cryptocurrencies to come after Bitcoin, and it is one of the hottest cryptocurrencies of the last decade.
• Tron (TRX) is a content-sharing platform that aims to give users full ownership of their personal information.
• EOS allows users to develop smart contracts and create dApps on its blockchain.

New cryptocurrencies with the lowest fees

When it comes to new cryptocurrencies with the lowest fees, several options stand out. Here are some detailed paragraphs on a few of the best choices:

Nano (NANO)

Nano is a unique cryptocurrency that operates on a block-lattice architecture, allowing for instant and feeless transactions. This means that users can send and receive Nano without paying any fees, making it ideal for frequent transfers or small payments. Its fast transaction speed, sustainability, and low energy consumption further add to its appeal. With a market cap of $170 million, Nano is a competitive player in the crypto market and can be purchased on major exchanges like Binance.

IOTA

IOTA is a cryptocurrency specifically designed for the Internet of Things (IoT). It utilizes Tangle, a distributed ledger technology, to enable fee-less and highly scalable transactions. This makes it perfect for machine-to-machine interactions and various IoT applications. IOTA's zero-fee structure and high transaction speed make it a cost-effective choice for everyday use and complex operations. IOTA has a market cap of $744 million and can be bought on major exchanges like Binance and MEXC.

Pepe Unchained ($PEPU)

Pepe Unchained is a Layer-2 blockchain project built specifically for meme coin enthusiasts. It offers significantly faster transactions than Ethereum, with much lower fees. Pepe Unchained also allows for instant bridging between ETH and the Pepe Chain. By staking $PEPU tokens, users can earn significant rewards. The project has a vibrant ecosystem and is an excellent choice for investors looking for gains rather than paying high transaction costs.

TRON (TRX)

TRON is a blockchain platform that aims to decentralize the web and enable fast, low-cost transactions. One of its standout features is offering one free transaction per day, making it very cost-effective for regular users. TRON's high-throughput blockchain technology ensures fast transaction speeds, typically around 3 seconds. With a market cap of $10.6 billion, TRON is a major player in the crypto market and can be purchased on exchanges like Binance.

Solana (SOL)

Solana is known for its low fees and high-performance blockchain. Transactions on Solana are rapid, often taking around 2.5 seconds. The minimal transaction fees, efficient network design, and scalability of Solana make it a preferred choice for developers and users. With a market cap of $81 billion, Solana is a leading cryptocurrency and can be purchased on major exchanges like Binance and Coinbase.

These cryptocurrencies offer some of the lowest fees in the market, providing cost-effective options for investors and users looking to minimize transaction expenses. Remember to always do your research and carefully consider your investment goals and risk tolerance before investing in any cryptocurrency.

New cryptocurrencies with the highest transaction speeds

While Bitcoin is the most famous and expensive cryptocurrency, its transaction speed is relatively slow. Here are some of the new cryptocurrencies with the highest transaction speeds:

Ripple (XRP)

Ripple is a digital payment protocol that allows for near-instantaneous and low-cost transactions across borders. The Ripple network uses its own cryptocurrency, XRP, which is designed to facilitate transactions between different fiat currencies. According to the Ripple website, transactions settle on the XRP Ledger in 3-5 seconds, significantly faster than other cryptocurrencies like Bitcoin and Ethereum, which can take several minutes or even hours.

EOS

EOS is a Blockchain platform launched in 2018, providing a fast and scalable infrastructure for decentralized applications (dApps). EOS has a peak transaction speed of around 4,000 transactions per second (TPS), making it one of the most scalable Blockchain platforms. EOS achieves its high transaction speed through the use of a delegated proof-of-stake (DPoS) consensus algorithm.

NEO

NEO is a Blockchain platform initially launched in 2014 as Antshares and rebranded to NEO in 2017. NEO has a transaction speed of around 15 TPS, which is significantly faster than Bitcoin. NEO achieves its transaction speed through a combination of its consensus algorithm and its use of digital identities. NEO's dBFT consensus algorithm enables fast transaction processing and high transaction throughput.

Cardano (ADA)

Cardano is a Blockchain platform launched in 2017, designed to be a more efficient and secure alternative to existing Blockchain platforms. Cardano can process more than 1,000 TPS, comparable to other high-speed Blockchain platforms like EOS and significantly faster than Bitcoin. Cardano achieves its fast transaction speed through a unique consensus algorithm called Ouroboros, which uses a Proof-of-Stake (PoS) approach.

Solana (SOL)

Solana is a Blockchain platform launched in March 2020 to solve the scalability issues faced by other networks. Solana can process up to 65,000 TPS, making it one of the fastest Blockchain networks. Solana achieves its high transaction speed by using a technique called Proof of History (PoH) along with a Proof of Stake (PoS) consensus mechanism. PoH timestamps each transaction, helping to reduce the time required for validation.

Avalanche (AVAX)

Avalanche is a next-generation Blockchain platform launched in September 2020, providing high transaction speeds, low fees, and interoperability. Avalanche can handle over 4,500 TPS and can confirm transactions in less than two seconds. Avalanche's layered Blockchain architecture separates the consensus layer from the execution layer, allowing for faster transaction validation.

Frequently asked questions