Best Altcoins to Invest in 2024 - Compare Top Altcoins (2024)

In this guide, we will discuss the best altcoins to invest in 2024. These are easily accessible, liquid, and have some of the most promising upside potential. We will tell you why they are worth buying, look at their past price action, address their resilience and expected future price action.

By the end of this guide, you will also have learned what altcoins are, why they are worth buying, and where to buy them right now.

List of the Best Altcoins to Buy in 2024

After vetting the markets for the most viable crypto investments, our analysts settled on the following as the best popular altcoins to buy right now.

1. Ethereum (ETH) – Overall Best Altcoins to Buy in 2024
2. Litecoin (LTC) – The Best and Most Popular Bitcoin Alternative
3. Solana (SOL) – Fastest Growing Ethereum Competitor
4. Cardano (ADA) – Popular Smart Contract Platform With a Promising Future
5. Ripple (XRP) – Altcoin Seeking to Revolutionize the Global Finance Industry
6. Binance Coin (BNB) – Popular Altcoin Native to the Largest Crypto Exchange
7. Polygon (MATIC) – Popular Layer-2 Scaling Network on Ethereum
8. Shiba Inu (SHIB) – Invest in a Fast Rising Meme Coin With
9. Cosmos (ATOM) – Interoperability Token With one of the Most Promising Future
10. Dogecoin (DOGE) – Buy a Massively Popular Meme Coin with a High ROI
11. Uniswap (UNI) – Invest in the Largest and Fastest Growing Decentralized Exchange
12. Decentraland (MANA) – Invest in a Popular Metaverse Token with GROWING Adoption Prospects
13. The Graph (GRT) – Invest in the Most Popular Indexing Protocol for the Ethereum Ecosystem
14. ApeCoin (APE) – New NFT-Based Altcoin with a Huge Upside Potential
15. Polkadot (DOT) – Popular Interoperability Token With a Promising Future

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection.

In the sections below, we will discuss each of these in detail. We will tell you what they are or how they work and analyze some of the factors that make them worth buying.

First, though, we answer the questions of what altcoins are and what makes them a proper investment.

What Are Altcoins?

Altcoins or Alternative Coins refer to all cryptocurrencies other than Bitcoin. These are alternatives to Bitcoin – the legacy virtual currency. And as the name suggests, the majority of these were initially designed to serve as an alternative to Bitcoins in the virtual currency space.

Their development started some time in 2010, just as Bitcoin’s popularity started gathering steam in the programming world. Today, more than 25,800 altcoins have been launched and listed with different crypto exchanges, crypto apps and trading platforms.

Throughout this time, these altcoins have exploded in popularity and value. At the time of writing, more than $570 Billion (50.7%) of the crypto industry’s $1.13 Trillion market cap is tied up in different altcoins. Ethereum has emerged as the most popular altcoin, accounting for close to 20% of the industry’s total market cap.

A Closer Look at the Best Altcoins to Buy Right Now

In this section, we will tell you why these altcoins are worth buying. We will pay close attention to key factors that make these altcoins worth buying today. These include its past price action, crypto community backing, current use case, and prospects of further adoption. They then extend to its reaction to changing market trends and expected future price action.

1. Ethereum (ETH) – Overall Best Altcoin to Buy in 2024

With a crypto market dominance of close to 20%, Ethereum is by far the most valuable and popular altcoin. It was founded in December 2013 – making it one of the oldest altcoins. Unlike Bitcoin, which seeks to address the many challenges facing the finance world, Ethereum seeks to revolutionize the business world with its smart contract feature.

Over time, Ethereum has become the most used blockchain network and the Launchpad for many crypto innovations. These range from metaverses, NFTs, DeFi, dApps, P2E, and more. This makes Ethereum one of the most used altcoins. Moving forward, developments in the Ethereum ecosystem, the adoption of ETH as a payment option, and further innovations are expected to continue drawing users to the platform.

ETH is already one of the most profitable altcoins to invest in the long term. Moving forward, these developments and a recovering market are expected to drive ETH’s price higher up. By the turn of the decade, some optimists are confident that ETH price prediction will have overtaken Bitcoin as the most valuable virtual asset. Such a promising future, as well as its proven resilience, make Ethereum one of the best altcoins to buy right now.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Litecoin (LTC) – The Best and Most Popular Bitcoin Alternative

Litecoin is the most successful of all Bitcoin forks and one of the best altcoins to invest in today. Created in 2011 by Charlie Lee, Litecoin was meant to serve as the faster, more scalable, and more affordable Bitcoin alternative. However, its popularity only grew in the periods leading to the late 2017 crypto market rally. At the height of this popularity and before it could leverage the newfound fame and value for adoption, Charlie abandoned the crypto project, and it came crushing.

Why, then, do we list it among the top altcoins worth buying today? Because a series of developments that have taken place around the project over time has given it a new lease of life.

For starters, Charlie Lee is back as the managing director of the Litecoin Foundation. Secondly, LTC has been wildly adopted as a payment method by countless brands and individuals across the world.

We also list Litecoin among the best altcoins to buy today because of its proven resilience. It has withstood multiple shocks – from Charlie’s exit to multiple crypto crashes – and always rebounded to set a new all-time high price after every dip. We consider it worth buying as we expect it to sustain this resilience and continue growing its value moving forward.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. Solana (SOL) – Fastest Growing Ethereum Competitor

Next on our list of the best Altcoins to invest in 2024 has to be Solana. SOL is one of the fastest-growing smart contract platforms and, arguably, Ethereum’s fiercest competitor.

Solana also has one of the highest returns on investment, is hugely resilient, and has performed exemplarily well in the past. SOL is currently selling at a massively discounted price, which would only mean outsized gains as soon as the market starts rebounding. And all these guarantee its place on our list of the best altcoins to buy right now.

In addition to its stellar past price action and a history of resilience, our optimism towards the coin is informed by two other factors. First is the great support it enjoys from the community. Secondly, the Solana ecosystem is growing fast, integrating virtually all the most important crypto innovations to its network. We note that most of these developments took place during the bear market in 2022.

During this period, it also suffered several setbacks that hurt its price – including its association with Alameda Research, the Sam Bankman-Fried trading company. But it has weathered this, as evidenced by the false breakout it posted in early 2023.

As soon as the market hints on recovery, we expect the altcoin to price in the many developments that have taken place on its network. This will most likely see SOL price predictions rebound and possibly recapture the highs last reached in November 2021.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply

4. Cardano (ADA) – Popular Smart Contract Platform With a Promising Future

Cardano, too, is a fast-growing network competing against the likes of Solana and Avalanche in the bid to dethrone Ethereum as the most formidable smart contract platform. We list it among the top altcoins to buy now because it has performed exemplarily well in the past and has a promising future. It has also proved its resilience by posting fast rebounds from major price dips.

It also makes it here because of the outsized support it continues to enjoy from the crypto community. This popularity has been instrumental in rescuing it from price dips, which have helped it maintain a position as one of the ten most valuable cryptocurrencies. These are expected to continue supporting the altcoin project in a move that’s expected to heighten Cardano’s adoption prospects.

Like most of the altcoins projects on this list, Cardano went on a development frenzy during the 2022 bear market. It not only worked on strengthening the integrity of its network but also integrated multiple crypto innovations to its ecosystem.

We believe it to be one of the top altcoins to buy right now because it hasn’t priced in any of these developments. You may, therefore, expect to witness an outsized ADA price breakout during the next crypto market rally.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

5. Ripple (XRP) – Altcoin Seeking to Revolutionize the Global Finance Industry

Ripple is one of the most revolutionary altcoins on this list. Its network threatens to topple the four-decade-old Swift banking systems as the most preferred interbank communication and cash transfer program. At the time of speaking, hundreds of banks and international financial institutions have already joined, with more expressing interest in joining.

This creates an unprecedented use case and demand for XRP tokens which translates to unimaginable value gains for Ripple. This is the core reason why you, too, might consider adding it to your list of the best altcoins to buy now.

To get here, however, Ripple has to triumph over the SEC in their legal battle that has been ongoing since December 2020 in the US.

Several other factors show why Ripple is worth buying today. First is the massive support it continues to enjoy from the crypto community. The second has to be its massive resilience, seeing that even with a court battle and having failed to recapture its 2018 highs, XRP has maintained its position as one of the ten most valuable altcoins digital assets.

There also is a lot of optimism among investors and analysts who are confident that Ripple Labs presented a strong defence in the SEC case and that the US courts will rule in XRP’s favor. Such a move would send Ripple race to recapture its 2018 highs before shooting higher and targeting a new ATH.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

6. Binance Coin (BNB) – Popular Altcoin Native to the Largest Crypto Exchange

Binance Coin is the utility coin for the largest crypto exchange and native token for one of the largest smart contract platforms – the Binance Smart Chain. This means that it has massive utility and consumers, which have been instrumental in making it the fourth most valuable crypto – only behind Bitcoin, Ethereum, and Tether.

In line with Binance’s commitment to continue enriching its ecosystem, we expect to witness a rising utility for BNB coins. This, coupled with the fact that BNB is currently selling at a discounted price, means the altcoin’s price will continue rallying. The conviction that Binance coin price will keep rising into the foreseeable future form part of the reason why we included BNB among the best altcoins to buy right now.

But Binance also makes it here because of its resilience. It has survived multiple crypto market crashes, internal challenges and even government interferences – almost always rebounding to a new all-time high. At the time of writing, the Binance Coin – like all other cryptos – is yet to recover from the 2022 bear market, and the exchange and its founder stand charged by the SEC in the US.

Analysts and investors are confident the SEC case won’t have a significant impact on BNB prices, while a market recovery will send BNB token prices skyrocketing. In light of these, you, too, may consider adding BNB to your portfolio of top altcoins to invest in right away.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

7. Polygon (MATIC) – Popular Layer-2 Scaling Network on Ethereum

Polygon is the largest, most valuable, and most popular layer-2 scaling solution for the Ethereum network. It was designed to help brands and individuals build scalable and low-cost decentralized applications and other projects on the Ethereum network.

Its adoption rate – even after Ethereum’s transition to a PoS consensus mechanism – has been on an uptrend. This implies that MATIC token utility and demand – and by extension, price – will continue rising, which explains why it is a top altcoin to buy and hold.

In the past, reputable brands, including Adidas, Meta Platforms, Starbucks, Walt Disney, Reddit, and the NFL, have leveraged Polygon. Moving forward, we expect more brands to continue using the layer-2 scaling platform. This optimism is informed by the observation that Polygon services won’t be impacted by Ethereum’s Merge.

Other factors that make MATIC tokens among the best cryptos to buy in 2024 include its promising future. In addition to Ethereum, Polygon is expected to launch on more EVM-compatible blockchains – effectively growing use cases and consumer demand exponentially.

We also recognize MATIC’s solid resilience and expect it to rebound, possibly targeting a new high during the next bull run. And all these make it the best altcoin to buy today for outsized gains during the next bull run.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

8. Shiba Inu (SHIB) – Invest in a Fast Rising Meme Coin With

Shiba Inu is one of the most popular meme coins. It is arguably one of the most lucrative crypto investments of all time, with its current value being a couple of million percentage points above its ICO price. It is one of the best altcoins to invest in over the short term. This is made possible by its erratic volatility, which makes it possible for its value to rally by double-digit percentage points in less than a day.

Our decision to feature it among the best cryptos to buy now was informed by three key factors. First, we acknowledge that SHIB tokens utility is growing fast against a dwindling supply. This is made possible by the Shiba Inu development team’s commitment to enriching their ecosystem while burning excess SHIB tokens.

The enrichment involves the introduction of Shib, the metaverse, ShibaSwap DEX, a marketplace, the Shibarium layer-2 blockchain protocol, an NFT collection, and Shiba Inu P2E games. The utility derived from all these platforms is expected to catapult Shiba Inu token demand and value to unimaginable heights.

Secondly, we list it here because we expect its price to continue rising thanks to the outsized support it enjoys from the crypto community. The SHIBARMY is expected to continue hyping the altcoin as well as instigating artificial price pumps that push its price up.

Lastly, we are convinced that Shiba Inu is a top altcoin to buy because it has always obeyed the market direction. It rallies when the market is uptrending and dips when it crashes. The majority of investors and analysts are confident that the market is poised for a rebound and a possible rally. This makes now the best time to buy the meme coin while it trades at a discounted price.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

9. Cosmos (ATOM) – Interoperability Token With one of the Most Promising Future

Cosmos seeks to solve the decade-old problem plaguing the cryptoverse – interoperability. It has come up with the Interblockchain Communication protocol that facilitates communication and data sharing between different blockchain networks. This makes it one of the most useful blockchain technologies of the future.

This technology has already been embraced by several blockchain technologies, creating a utility and higher demand for its ATOM tokens. This is the primary reason we believe ATOM to be one of the best altcoins to invest in over the longer term.

But ATOM’s use case and demand don’t just come from its adoption as an interoperability facilitator in the crypto-verse. Cosmos has also positioned itself as the most user-friendly blockchain network.

Its Cosmos SDK ensures that virtually anyone can create blockchain-based applications and projects – without having to learn programming languages. As blockchain goes mainstream, you may expect to see more individuals and brands turn to the SDK to launch different projects. This, too, will drive the ATOM token’s demand and price up.

You may also want to buy ATOM tokens today because the altcoin has proved its resilience and obedience to market trends. It is currently selling at a discount thanks to the 2022 market crash, whose effects have extended into 2023. But the market is poised for an eventual recovery, which means an uptrending price action for Cosmos ATOM token. This makes it the best altcoin to invest in before the next bull market.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

10. Dogecoin (DOGE) – Buy a Massively Popular Meme Coin with a High ROI

Dogecoin is arguably the most popular meme coin. It is also the most valuable and only joke currency on the list of the top ten most valuable cryptocurrencies. First designed as a joke and aimed at poking fun at Bitcoin, the meme coin has eventually morphed into one of the most recognizable digital currencies.

Most of DOGE’s popularity and value gain can be attributed to the massive support it enjoys from the crypto community as well as endorsem*nts from the likes of Elon Musk.

Musk’s tweets about the meme currency, as well as artificial price pumps from the crypto community, have kept DOGE on an uptrend. Moving forward, we expect these factors to continue driving up DOGE token prices.

We also recognize Dogecoin’s resilience and obedience to changing market trends. Even though it has maintained an overall uptrending price action, a closer look at its historical price chart reveals that it has been obedient to market trends. This means that it is only trading at the current dip because of the bearish sentiments dominating the crypto market at the moment.

As soon as the market hints at recovery, you can expect DOGE to rebound and possibly rally to a new all-time high. This makes it a top altcoin to buy and hold over the short term.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

11. Uniswap (UNI) – Invest in the Largest and Fastest Growing Decentralized Exchange

Uniswap is the largest and most popular decentralized exchange. It makes it to our list of the best altcoins to invest in right now because of its massively promising future, as the onslaught on CEXs by world governments is expected to drive individuals to DEXs. It also makes it here because it has performed exemplarily well in the past, and its promising future indicates that it will sustain this value gain.

Among the key indicators of its promising future is its rapidly growing popularity and utility. In the less than five years that the Uniswap DEX has been around, it has facilitated more than 71 Million crypto trades worth more than $1.5 Trillion. It has also been integrated into more than 300 crypto projects. Not forgetting that it is one of the most valuable DeFi platforms around. All these increase UNI tokens’ utility and price.

Other factors that should help convince you why Uniswap is a top altcoin to buy and hold include its resilience. It has also performed exemplarily well in the past and is expected to sustain the current overall uptrending price action in the foreseeable future.

If the market readies for a bull triggered by the Bitcoin Haling in early 2024, Uniswap is also prepping for a breakout that will not only help it escape the current dip but also targets a new all-time high.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

12. Decentraland (MANA) – Invest in a Popular Metaverse Token with Growing Adoption Prospects

Decentraland is one of the oldest and most popular metaverse projects. It shot to popularity when world-renown brands like Samsung, Heineken, Coca-Cola, Nike, Dominos, and Atari started acquiring plots of its virtual land. This sparked massive investor interest in its MANA tokens, which sent its value skyrocketing.

In the near term, we expect these brands to start developing their virtual real estate, igniting even more interest in Decentraland, and helping its MANA tokens escape the current dip. This is one of the reasons why we list Decentraland among the best coins to buy right now.

Secondly, we list it here because Decentraland has been rapidly expanding its metaverse ecosystem. In addition to virtual plots of land, Decentraland users also get to interact with innovative crypto projects like NFTs, a marketplace, play-to-earn games, chatting rooms, and virtual concerts. All these are expected to increase the MANA token’s utility and will, in turn, push up its demand and price.

We also believe MANA to be a top altcoin to buy now because of its proven resilience. It not only dips when the market crashes but also rebound as soon as it starts rallying. There currently is a lot of optimism that the crypto market will rebound soon, which makes now the best time to buy Decentraland.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

13. The Graph (GRT) – Invest in the Most Popular Indexing Protocol for the Ethereum Ecosystem

The Graph is the most popular and most-used indexing protocol on the Ethereum network. It promises to revolutionize the dApps, DeFi, smart contract, and Web3 space by easing access to data for developers on the network.

The market dominance and rising utility have helped keep the GRT token price on an overall uptrend. Moving forward, we expect The Graph to maintain this dominance which explains its feature on our list of best altcoins to invest in now.

But this isn’t the only reason why you may consider investing in The Graph. We also liked that it has a massively promising future and has proved its resilience. The promise of a bright future has its basis in the fact that The Graph is a multi-blockchain protocol. In addition to Ethereum, it intends to launch more EVM-compatible blockchains – effectively growing its utility, demand, and value.

Its resilience can, on the other hand, be seen in its price history. It has not only survived multiple market crashes and always risen to set new records. The current dip, therefore, makes now the best time to buy The Graph tokens, as they will most likely rebound during the next market rally.

14. ApeCoin (APE) – New NFT-Based Altcoin with a Huge Upside Potential

ApeCoin is the newest crypto on our list of the best altcoins to buy right now. It is the utility token for the all-popular BAYC and MAYC NFT projects, as well as the native token for the Otherside metaverse and upcoming mainnet dedicated to APE projects. Its involvement with all these projects and its stellar price action earlier in 2022, even though it launched at the height of a bear market, is the core reason it made it here.

We also list ApeCoin here because its network underwent major developments throughout the 2022 bear market. The majority of these, however, are yet to be priced in. You may also remember that the bear market prevented the APE coin from hitting its true peak price. Therefore, ApeCoin will react to the slightest hint of market recovery with an unprecedented value gain.

Our analysts also acknowledge that Apecoin has the characteristics of a meme, NFT, and metaverse token. This makes it the perfect investment for anyone looking to capitalize on the re-emergence of either investing craze.

Lastly, ApeCoin makes it to this list because it continues to enjoy massive support from the crypto community. These, alongside its NFT-affiliated project followers, are expected to continue drumming up support for APE tokens which will play an instrumental role in not only influencing its value gain – possibly triggering artificial price pumps – for the APE altcoin. Such popularity and support also come in handy in influencing adoption by different brands.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

15. Polkadot (DOT) – Popular Interoperability Token With a Promising Future

Polkadot is a layer-0 blockchain network that seeks to solve the interoperability challenge facing the crypto-verse. It provides blockchains with a trustless avenue through which they can communicate and share data. This makes it one of the most important altcoins of the future. It also opens up DOT tokens to widespread future use, and this demand is expected to push up its token price.

But this promising future isn’t the only reason why we consider Polkadot one of the best altcoins to invest in now. It also makes it here because it has performed exemplarily well in the past and is expected to sustain this price action moving forward.

Further, Polkadot is a top altcoin to buy today because it has proved its obedience to market trends. It rises when the market is rallying and dips when it crashes. This means that Polkadot is only trading at a discounted price because of the extended bear market.

As soon as the trend reverses and the market confirms recovery, DOT token prices will begin to rebound and set the pace for a new all-time high. This, then, makes now the best time to buy Polkadot tokens.

Crypto asset investing is highly volatile and unregulated in some EU countries

What Makes Altcoins a Good Investment?

Just as their popularity and value grew, their appeal as the perfect investment vehicle grew. Today, long-term crypto investors have bought the majority of the promising altcoins en masse. The more volatile ones are, on the other hand, actively traded on hundreds of centralized and decentralized exchanges and other trading platforms.

But what makes these altcoins worth buying? We look at some of the top reasons why you may consider investing in Altcoins in 2024 below:

Outperformed Bitcoin’s ROI

A good number of investors have turned to altcoins over the recent past because they have consistently outperformed Bitcoin during the recent bull market rallies. In the 24 months leading to the crypto market peak of November 2021, for instance, Bitcoin price rallied by 900% while the likes of Solana Shoba Inu gained 100,000%.

Diversification

You may also want to invest in altcoins if you are looking to diversify your crypto investment. Consider complementing your slow-growing long-term Bitcoin investment with high-yield short-term altcoin investments.

Promising future

Some altcoins have a massively promising future. They have the backing of a solid blockchain network, the blockchain ecosystem in which they operate is growing fast – hence increasing their utility – and their prospect of adoption by real-world brands is rising. These give them a highly promising future that will almost certainly translate to their future making, thus conforming to why they are good investments.

Proven resilience

You may also want to buy altcoins today because most of them have proved their resilience. While their value will fall during a bear market, especially in relation to a BTC value drop, they will also be quick to rebound as soon as Bitcoin starts gaining.

Discounted price

Altcoins are also selling at highly discounted prices. While Bitcoin has only shed 57% of its all-time high, some altcoins like Cardano or Solana have lost more than 90% of their peak value. This translates to a higher return on investment as soon as the market rebounds and these altcoins recapture their peak prices.

It’s worth mentioning that the long-term potential of an altcoin goes hand-in-hand with thinking about whether the altcoin is undervalued. When thinking about the best altcoin to buy, investors should also consider the potential market cap for the crypto assets as well as watch and monitor some beginner cryptos when they are heavily trading at a discounted price.

Risks of Investing in Altcoins

Cryptocurrencies have been one of the most high-yield investments in the last decade. On the flip side, however, there are multiple risks to buying altcoins. Below, we look at the five most common risks associated with investing in altcoins.

Extreme volatility

Altcoin prices are extremely volatile. We have already mentioned that it is not unlikely for some altcoins to have their price swing in either direction by double-digit percentage points in a matter of hours. In a down-trending market, such a volatile value drop will leave you staring at massive losses.

Limited use cases

Unlike Bitcoin, which has been adopted as a payment method by many bands as well as a legal tender by some countries, most altcoins have limited use cases. They can only be used to trade or to facilitate transactions within their blockchain network. Such limited use case and unpopularity is detrimental to the speed with which they gain value.

Unclear valuation and tokenomics

Some altcoins aren’t clear about their tokenomics. They have shady total and maximum supply volumes, which makes it impossible for investors to determine their actual value. They also aren’t transparent about the distribution of their tokens, with some having a significant portion of these coins concentrated in the hands of a few individuals.

No legal protections – insurance and oversight

Unlike traditional investments like stocks and real estate, most countries do not have solid legal protections for altcoin investing. Regulators do not control who can launch crypto projects and altcoins, investments aren’t insured, and there is no oversight over altcoin projects or trading platforms.

Exposure to scams

The lack of proper oversight in the crypto investing space exposes investors to the threat of scams and rug pulls. On multiple occasions, rouge players have created, launched, and popularized crypto projects with the sole intention of scamming investors off their hard-earned cash. The most popular scam, in this case, involves hyping an altcoin before dumping all your assets as soon as its price peaks, triggering a price drop back to near-zero dollars.

Bitcoin vs Altcoins – Which is the Better Investment?

Bitcoin is the pioneer digital asset, and having been around for more than 13 years, its popularity, utility, and value have grown exponentially. Though it continues to dominate the market as the most sought-after investment, altcoins have been eating into this dominance slowly.

Our analysts argue that both Bitcoin and altcoins have their fair share of benefits and disadvantages. This means that an investor’s choice of the better investment should be influenced by such factors as risk tolerance, understanding of either alternatives and investment strategy. Below, we look at four core metrics that you should consider when deciding which is the better investment.

• Safety: Bitcoin investing doesn’t attract as many risks as altcoin investing. Its solid reputation and decentralized ownership, for instance, make it immune to the threat of rug pulls and other scams.
• Volatility: Bitcoin is not as volatile as the majority of altcoins that we have discussed above. We must also observe that altcoins prices are overly reactionary and dependent on BTC’s price action. Therefore, a slight up/downswing in BTC price triggers a wildly disproportionate value gain/drop for altcoins.
• Return on investment: Bitcoin’s relatively stable price action and less volatility also means that it has a lower return on investment than most altcoins.
• Utility: It is an open secret that Bitcoin has more use cases than virtually any other cryptocurrency. It has been adopted as a payment option by most in-store and ecommerce enterprises across the world, most individuals accept its use as a cash alternative, and countries like El Salvador recognize Bitcoin as a legal tender. The same cannot be said of altcoins, most of whom are yet to extend their utility outside of their network’s ecosystem.

Where to Buy Altcoins in 2024?

There currently are hundreds of crypto exchanges, peer-to-peer platforms and other trading platforms where you can buy altcoins today. How, then, do you find the best place to buy and sell altcoins?

We list down a few considerations you ought to pay the most attention to when vetting different crypto trading platforms:

• Cost: Take into account all the fees and commissions charged by the altcoin trading platform. These include transaction fees and non-trading fees. Confirm the impact these have on the profitability of your trade/investment, and only go for an exchange with the lowest fees.
• Regulation and reputation: We advise our readers to only register crypto trading accounts with regulated crypto exchanges. They should also be of solid reputation, and you can verify this by checking their customer reviews on social media and review platforms.
• Safety: There are at least four critical things you need to place the most value on when determining the safety of a crypto exchange. For starters, ensure their systems and algorithms are audited by reputable internet security entities. Then confirm the safety of their crypto vaults and self-custody wallets. Proceed to confirm the security measures around your personal data. Finally, the trading platform must also have put in adequate safeguards around access to your account and transferability of crypto assets.
• Trading minimums: Confirm the affordability of the account minimums, especially the minimum deposit and the trading minimum.
• Variety: It is important that you only register with a crypto trading platform that provides you with a wide range of altcoins – effectively allowing you to diversify your investment portfolio.

A few crypto trading platforms meet these requirements, and our top pick among these is the eToro crypto exchange. We explain how it works below.

eToro – Best Crypto Exchange to Buy Altcoins Safely and Affordably

eToro started processing crypto trades – starting with Bitcoin in 2024. Since then, it has integrated virtually all the most popular altcoins. This rich product list, coupled with other factors such as affordable account minimums, safety, and user-friendliness, have made eToro one of the most popular exchanges.

To start investing in cryptocurrencies via eToro, you will need to first deposit a minimum of $10 – via any of the many supported fat deposit options. The exchange maintains competitive transaction fees – fixed at 1% of the transaction volume. It also maintains a user-friendly trading platform characterized by a straightforward account creation process that ushers to a highly navigable and responsive trading interface.

eToro is also committed to the safety and security of client funds and personal information. For starters, it doesn’t share clients’ personal information with any third parties. Secondly, it provides its platform users with a highly secure custody crypto wallet (storing 90%+ of user funds offline) and a secure self-custody mobile wallet.

Below, we teach you how to buy any of the top altcoins that we have discussed hereinabove via eToro.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How to Buy Altcoins in 2024 – Step-by-Step Beginners Guide

eToro maintains an easy and straightforward crypto investing process. You don’t need expert help to create an account or start buying altcoins, and the entire exercise takes no more than a few minutes. Here is the detailed guide on how to go about it:

Step 1: Open a crypto trader account

Head over to the official eToro website, alternatively, download the eToro trading app from the Play Store or App Store and click on the “Join Now” icon. Complete the registration tab that pops up by keying in such basic personal information s your name and address, email and phone number, and trading experience.

Step 2: Verify your identity

eToro, like all regulated exchanges – is required by law to subject all its clients via KYC/AML checks. The exchange will, therefore, ask you to submit a copy of a government-issued identification document such as a passport or driver’s license.

Step 3: Fund your crypto account

Once the account is approved, log in and tap on the “Deposit Funds” icon. A funding tab will pop up listing all the payment options available to you – based on your country of residence. Choose one and follow the prompts to fund this account with at least $10.

Step 4: Identify the best altcoin to buy

After the payment reflects in your account, tap on the “Discover” icon and from the available trading instruments, choose ‘Cryptos.’ From the list of supported digital assets that pops up, identify the altcoin you wish to trade.

Step 5: Buy altcoins

Hit the “Buy” icon and use the trading tab that pops up to customize this investment. Indicate the number of altcoins you wish to purchase of how much cash you want to spend. Then tap on the “Open Trade” button to execute this transaction.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Note: The private keys of the purchased altcoin will be deposited into the exchange-provided custodial wallet. To transfer them to a third-party exchange or wallet, you first need to move them to the free eToro mobile wallet app.

Conclusion – Best Altcoins to Invest in 2024

There goes everything you need to know about investing in altcoins today. This guide has listed and discussed the best altcoins to buy right now before looking at the risks to crypto investing that you must familiarize yourself with before buying the first altcoin.

We also contrasted altcoin to Bitcoin investments before telling you what you need to check when searching for the best altcoin exchange.

Want to jump straight to buying any of the altcoins that we have discussed above? Follow the step-by-step guide to investing in altcoins via eToro that we have outlined above.

Reviewed and Fact Checked by Kamal Masri, Fintech and Crypto Editor and Financial Analysts.