Cryptocurrency to Invest in 2024: Explore 10 Cryptocurrencies Coins with Highest ROI
A cryptocurrency is a digital asset that uses cryptography to secure transactions. This is not centralized by the authority of a bank or government. Crypto uses a decentralized system for transactions and is secured by blockchain technology.
There have been 24,630 cryptocurrency projects till date out there in the cryptocurrency market those are estimated to reach $4.94 billion by 2030.
Why do people love Crypto investment? It could help make more money, and is their future finance. Secure finance with its cryptographic key methods, as they cannot be printed or seized, cryptocurrencies may also provide a safe store of value. Hence, we have the list of cryptocurrencies from which you can pick the cryptocurrency to invest in 2024.
Bitcoin (BTC)
Bitcoin is the first-ever digital currency created in 2009 by an individual or group using the pseudonym Satoshi Nakamoto. It operates on a network of computers, known as a blockchain, which records all transactions made with Bitcoin. The market measures a company's value with a Bitcoin refers to the total value of all Bitcoins in circulation. Currently, the market cap of Bitcoin stands at $1.3 trillion. Bitcoin has experienced a 136% increase in value compared to the previous year.
Bitcoin's transactions are recorded on a blockchain, maintained by a network of computers (nodes). This technology ensures the security, and immutability of transactions, as each transaction must be verified by solving complex cryptographic puzzles.
Stats observed in May 2016, the price of one bitcoin was approximately $500, while as of April, 2024, it had surged to around $64,427. This remarkable growth represents an eventual increase of 12,785%.
Tether (USDT)
This is a special type of cryptocurrency and is called a stablecoin because it is tied up to normal money like US dollars or Euros. So, while other cryptocurrencies like Bitcoin's value keeps fluctuating.
While, Tether tries to keep the same value as the money it's tied to, like $1. Hence, Tether is another cryptocurrency to invest in 2024 as it makes it less risky for people to their investment choices on it.
Ethereum
Ethereum is a digital currency like Bitcoin, but it's also a platform where people can be involved in building all sorts of cool things. smart contracts – these are like digital transaction agreements. For example, if you promise to pay someone for a service, the smart contract can make sure you pay them automatically after the job is done by them.
Ethereum created NFTs, which stands for non-fungible tokens. These are like digital collectibles, kind of unique pieces of art, in digital form. Over the years, its price has shot up by a huge amount, starting from just $11 and going all the way up to around $3,158! That's a massive increase of over 28,000%! So, it's not just popular for what it can do, but also because people see it as a good investment.
Solana (SOL)
Solana coin is a type of digital currency, like Bitcoin or Ethereum. Its Market cap is $66.4 billion today. Solana supports decentralized finance (DeFi), which is like using digital currencies for banking, transactions, and exchanging. Solana works differently from some other digital currencies because it uses a mix of two methods called proof-of-stake and proof-of-history. These methods help Solana process transactions really quickly and securely, which is important for things like DeFi and DApps.
When Solana first started in 2020, the price of one SOL token was $0.77. Now on April 2024, the price had risen a lot, to around $148.30 per token. That's a huge increase of 19,159%! SOL is suggested cryptocurrency to invest in 2024 because of its highest ROI. So if someone bought SOL tokens at the beginning and sold them in April 2024, they would have made a huge profit.
Binance Coin (BNB)
Binance coin is a digital money you can use specifically on Binance which is a big website where people trade different cryptocurrencies. But BNB is not just used for trading anymore. It is also used to pay for things like fees on Binance, or even to book travel plans.
Talking Binance in 2017, you could buy one BNB for just 10 cents! But by April 2024, its price went way up to about $613 for one BNB.
This means if you had bought BNB back then and sold it now, you'd have made a huge profit.
U.S. Dollar Coin
(USDC) is a type of cryptocurrency categorized as a stablecoin. U.S. dollar, so people can use it for transactions without worrying about a change in its value.
USDC runs on a technology called Ethereum, which is a platform for creating and running applications on blockchain. You can use USDC to buy things or send money anywhere in the world, just like you would with regular dollars, with the added speed and security of blockchain technology.
XRP
XRP is a digital currency. Ripple- A network created by a company. It's used on a network created by a company that helps with exchanging different types of money, like regular dollars or euros, and even other cryptocurrencies.
In 2017 XRP was cheap. Coming to April 2024, it is worth around 53 cents. That's a huge increase in its value, about 8,676%!
That's why people pay attention to it as an investment opportunity.
Dogecoin
Dogecoin is a type of digital money, called cryptocurrency. It is another Cryptocurrency to Invest in. It was null in front in 2013 but gradually was heard and became popular because people liked its funny dog logo and the community around it. Its value could go down over time because there can be too many of them. In 2017, one Dogecoin was worth a tiny fraction of a cent. But by April 2024, its price went up a lot, about 75,904%, to around 15 cents for one Dogecoin. So, this is also one of the suggested cryptocurrency to invest in 2024.
Cardano
It is also known as ADA, which is another type of digital money, like Dogecoin and Toncoin. It involves a proof-of-stake to check transactions.
ADA, the money used in Cardano, is also used for smart contracts and apps, similar to Ethereum. ADA's value has gone up over time, but not as much as some others. In 2017, one ADA was worth 2 cents. By April 2024, it went up by about 2,266%, reaching 47 cents. Its total value is about $16.8 billion.
Toncoin
Toncoin is also known as Gram. It was first created for a messaging app called Telegram but got left behind. Then a group called the TON Foundation took over and changed its name to "The Open Network" or TON. Toncoin is like the money used in this network.
It lets people buy, send, and keep their money safe using TON's super-fast and eco-friendly system. Its value has gone up a lot in the past year, by about 141%, and its total value is about $18.9 billion.
Hence, here is a list of suggestions for cryptocurrency to invest in 2024 for their vast profit and cryptocurrencies with highest ROI.
