7 Best Altcoins to Invest in 2024

Bittime - Investing in cryptocurrencies has become an attractive option for many people who want to make big profits. While Bitcoin (BTC) remains the top choice for many investors, there are a number of altcoins (cryptocurrencies other than Bitcoin) that offer huge profit potential. 

If you are interested in diversifying your crypto portfolio, here are the 7 best altcoins you can consider investing in in 2024.

1. Ethereum (ETH)

Ethereum (ETH) is the largest altcoin after Bitcoin, and has long been known as an innovator in the blockchain world. Ethereum introduced the concept of smart contracts, which allows decentralized applications (dApps) to run on its blockchain network. 

Ethereum also supports the DeFi (Decentralized Finance) and NFT (Non-Fungible Tokens) sectors which continue to grow rapidly. Ethereum's transition to Proof-of-Stake (PoS) also makes it more environmentally friendly than Bitcoin which uses Proof-of-Work (PoW). 

With impressive performance in recent years, Ethereum remains one of the best choices for investment.

2. Ripple (XRP)

Ripple (XRP) is designed to speed up transactions between banks and financial institutions. Ripple aims to replace the SWIFT system used by international banks with a cheaper, faster and more secure system. 

XRP is the token used in the Ripple network. Although Ripple was involved in a lawsuit with the SEC (Securities and Exchange Commission), the latest ruling favors XRP and opens up greater potential for this network. 

Ripple could be an attractive option for long-term investment, especially if their legal wins continue.

Also read: Latest Bitcoin Price Prediction: Could It Break $102,000 Later This Month?

3. Solana (SUN)

Solana (SOL) is a blockchain that launched in 2020 offering very high transaction speeds and low fees. Solana uses a combination of Proof-of-History (PoH) and Proof-of-Stake (PoS) to validate transactions, which makes it more efficient compared to Ethereum. 

Solana has grown rapidly and has various dApps and NFT projects. However, despite its huge potential, Solana has experienced several network outages, which is a concern for some investors.

4. Polkadot (DOT)

Polkadot (DOT) is a blockchain founded by Gavin Wood, co-founder of Ethereum. Polkadot allows users to create parachains—blockchains that can be customized but still benefit from the security of the main network. 

With a Proof-of-Stake (PoS) consensus model, Polkadot offers flexibility in creating decentralized applications while maintaining security. Polkadot promises a bright future in the blockchain world and is worth considering as an investment.

5. Dogecoin (DOGE)

Dogecoin (DOGE) started as a joke in 2013, but is now one of the most recognized cryptocurrencies. Dogecoin's popularity is increasing thanks to support from figures such as Elon Musk. 

Even though Dogecoin is better known as a "meme coin", its large and loyal community makes DOGE still an attractive investment option. Moreover, Tesla accepts Dogecoin as a payment method for some of their products.

6. Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is a fork of Bitcoin which aims to increase Bitcoin's transaction capacity by increasing the size of transaction blocks. This allows Bitcoin Cash to process more transactions at lower fees.

BCH also received a boost following the announcement that it would be traded on a new exchange platform, EDX Markets. Bitcoin Cash offers a better scalability solution than Bitcoin, making it an attractive alternative.

7. Compound (COMP)

Compound (COMP) is a token used in DeFi protocols that allows users to lend or borrow cryptocurrency. With Compound, users can earn interest on loaned crypto assets. 

Compound operates on the Ethereum network, enabling transparency and efficiency in transactions. Additionally, with a limited supply of only 10 million COMP tokens, Compound offers opportunities for investors interested in the DeFi sector.

Also read: Bitcoin Price Prediction 2025 According to Crypto Academy: Get Ready To The Moon!

Conclusion

Portfolio diversification is essential in the volatile world of cryptocurrency. Altcoins such as Ethereum, Ripple, Solana, Polkadot, Dogecoin, Bitcoin Cash, and Compound offer various advantages that can provide opportunities for big profits. 

However, before investing, make sure to do your research and only invest according to your financial capabilities.

FAQs About Altcoins

What are Altcoins?

Altcoins are cryptocurrencies that emerged after the success of Bitcoin, usually created as alternatives that offer advantages over Bitcoin.

What Altcoins?

Various popular altcoins currently include Ethereum, Ripple (XRP), and Litecoin.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference:

Money US News, Media Money US News. accessed November 25, 2024.

Coin Ranking, Media Coin Ranking, accessed November 25, 2024.

Author: MF