15 Best Altcoins to Invest in 2024

Looking to build a portfolio of top-rated altcoins that can generate huge growth? Many established altcoins are trading at huge bear market discounts right now. You’ll also find new altcoin projects that are currently in presale.

In this guide, we rank and review the 15 best altcoins to buy in 2024.

List of the Best Altcoins to Invest in 2024

We’ve researched the cryptocurrency markets extensively and found that the 15 best altcoins to buy are those listed below:

  1. Smog (SMOG) – Best altcoin offering huge airdrop rewards with a 42% staking APY.
  2. Sponge V2 (SPONGEV2) – A distinctive ERC-20 meme coin transitioning from its first version to the next. Offers an exceptional staking yield of up to 3410% by staking $SPONGE. This innovative approach replaces traditional presale methods, focusing on rewarding early stakers as the project evolves.
  3. Bitcoin Minetrix (BTCMTX) – Innovative stake-to-mine altcoin that is offering tokenized cloud mining credits through its staking mechanism. Investors can earn Bitcoin mining power and high APYs with the $BTCMTX token. Bitcoin Minetrix aims to raise $32 million through its ongoing presale. 
  4. Meme Kombat ($MK) – Creative altcoin pitting memes against one another in AI-assisted combat with live betting on the outcome. Offers a steady 112% APY and high levels of transparency with a publicly viewable founder. A new paradigm in the meme industry, this presale has already raised over $600,000.
  5. eTukTuk (TUK) – Millions of internal combustion engine tuk-tuks are causing harm to the environment – eTukTuk has a solution. It manufactures electric tuk-tuk vehicles for the developing world. They’re cost-effective and significantly better for the environment. This Sri Lanka-based startup has just been launched, so you can get in from the ground up via its presale campaign. There’s a 40% presale discount currently being offered, but this won’t last for long.
  6. Scorpion Casino (SCORP) – The Scorpion Casino presale – which is inching toward $1 million in funding, is offering a huge upside of 194% when buying today. This is compared to its exchange listing price. For every $1 invested, you’ll also receive $0.40 back in casino credits. This decentralized casino is regulated by the Governor of Curaçao and allows players to gamble on slots, table games, provably fair, sports betting, and much more.
  7. Chimpzee (CHMPZ) – This altcoin project is bridging the gap between cryptocurrencies and sustainable investing. After buying a Chimpzee NFT, holders will receive passive income and access to its play-to-earn game. Holders also receive a share of NFT trading fees. Chimpzee retains a small percentage of rewards to help fund its sustainable causes, including deforestation and animal protection. CHMPZ tokens are now in presale; a 94% upside is available.
  8. Solana (SOL) – Solana is a decentralized blockchain that supports smart contracts. Launched in mid-2020, it can handle up to 65,000 transactions per second. Transaction fees amount to a small fraction of a cent and take milliseconds to confirm. You can buy Solana today at a 92% discount when compared to its all-time high.
  9. dYdX (DYDX) – With trading volumes of over $500 million in the prior 24 hours, dYdX is the largest decentralized exchange. It specializes in cryptocurrency derivatives known as ‘perpetual contracts’. These operate like futures contracts but without an expiry date. Its governance token, DYDX, is trading 92% below all-time highs.
  10. Ripple (XRP) – After its recent court victory against the SEC, Ripple is back on the radar of investors. It already has solid fundamentals; its cross-border payment technology is significantly more efficient than SWIFT. Not only in terms of speed and fees but convenience. XRP is trading 86% below its all-time high.
  11. The Graph (GRT) – The Graph is an innovative project that specializes in blockchain indexing. It enables third-party developers to extract data from their preferred blockchain – in a fast, cheap, and organized way. Developers must pay fees in GRT when using its indexing tool. GRT is trading nearly 97% lower than its bull market high.
  12. SushiSwap (SUSHI) – With a small market capitalization of just $290 million, SushiSwap offers an attractive entry price for new investors. It’s a decentralized exchange that supports cross-chain trading. For instance, you can instantly swap USD Coin (Ethereum) for BUSD (Binance Smart Chain). Fees are competitive and there is no requirement to provide any personal information when trading. SUSHI is down 97% from its bull market peak.
  13. Aave (AAVE) – Another top-rated, albeit, undervalued altcoin to buy is Aave. Like many DeFi projects, Aave is trading at huge discounts right now. In fact, you can currently buy AAVE tokens at over 91% below its prior all-time high. Its DeFi platform supports cryptocurrency lending agreements via smart contracts. Investors earn yields, while borrowers pay interest.
  14. Ethereum (ETH) – If you’re looking to take slightly less risk, then Ethereum might be more suitable for your altcoin portfolio. Launched in 2015, Ethereum has the largest market capitalization after Bitcoin. It’s the most popular blockchain network for dApps and smart contacts; thousands of projects are built on Ethereum’s framework. You can get a generous discount of 65% by investing in Ethereum at current prices.
  15. BNB (BNB) – Another large-cap altcoin that makes our list is BNB, which backs the Binance ecosystem Since its 2017 launch, BNB has generated growth of over 193,000%. This makes it one of the best altcoins for past performance. BNB is currently trading over 67% below its all-time high. This offers great value considering its use cases – which include payment fees on the Binance Smart Chain and discounted trading commissions.

A Closer Look at the Best Altcoins to Buy in 2024

To help clear the mist on the best altcoins to buy, we will now analyze the 15 projects listed above. We’ll assess each altcoin’s upside potential, use cases, risks, and much more.

Read on to discover the best altcoins with the most potential in 2024.

1. Smog – Best Altcoin Offering Huge Airdrop Rewards With a 42% Staking APY

If you’re looking for the best altcoin to invest in the currently bullish market, then Smog ($SMOG) is your best choice. It is a promising new altcoin on Solana aiming to recreate and even surpass the success of previous meme coins like Bonk, Myro, and Dogwifhat.

$SMOG launched on February 7, 2024 on Solana’s Jupiter DEX with an initial price of $0.001419. This price saw a 2000% increase over the past week and is trading at $0.04 at press time.

The platform focuses on a fair launch with no presale, ensuring an equal entry point for all and improving legitimacy and trust.

It aims to offer the ‘Greatest SOL Airdrop,’ a major attraction offering substantial rewards through daily, weekly, and monthly quests. Community members can earn airdrop points by interacting with Smog’s socials and on-chain activities like buying, holding, and staking.

Smog Presale

50% of the supply is dedicated to marketing, aiming to build a strong community and drive the token’s success.

The platform also has cross-chain accessibility as it launched a bridge to Ethereum, allowing Smog to tap into the Ethereum community and increase its reach.

Moreover, it also offers attractive staking yields of 42% APY, with staked tokens locked for 90 days, incentivizing long-term holding.

Smog Presale

10% of the total supply (1.4 billion tokens) is reserved for CEX launches and 5% for DEX liquidity, ensuring easy access and trading for investors. Buyers can enter the Smog Telegram group and follow it on X (Twitter) to keep up with the platform’s progress.

Hard Cap N/A
Total Tokens 1.4 billion
Tokens available in presale Not a presale
Blockchain Solana
Token type SPL
Minimum Purchase None
Purchase with ETH, USDT, USDC, SOL or any other Solana-based token

2. Sponge V2 – One of the Top-most Crypto Presale Offering Unprecedented 3410% Staking Yields in its Unique Presale Phase

Sponge V2 token is the latest version of the successful coin launch of Sponge V1 in the first half of this year.

Sponge V2 Dashboard

Now, SPONGE is bridging from V1 to V2, so those who stake their SPONGE tokens earn Sponge V2 tokens. This new edition is better than ever to help you earn more tokens.

The only way to get yourself some Sponge V2, which is the relaunch of the legendary Sponge Tokens once having a market cap of $100 mln at its ATH, is to first get your hands on Sponge V1 tokens, which you can buy right from the official website of the project using ETH, USDT, or through card. One ETH will get you 4,917,585 Sponge. You can also buy the token from platforms such as Gate.io, Bitget, BitMart, BingX, CoinW, MEXC, Poloniex, and Uniswap V3. 

Once you have Sponge tokens, you can stake them, and you’ll get an equivalent amount of V2 tokens. Remember, your V1 tokens will be locked up permanently. Once SPONGE V2 is launched, you’ll get your tokens. 

This is a great opportunity for those who missed out on the SPONGE rally. This is your time to get in the meme community, which is celebrating the popular U.S. animated television show SpongeBob SquarePants. While the Ethereum-based token was inspired by the popular series, SPONGE V2 builds on the success of the original Sponge token.

Sponge V2 Staking Interface

This time, you can get your hands on SPONGE V2 before it gets listed by staking your tokens. The more V2 tokens you stake, the more SPONGE V2 tokens you get, and the longer you keep them staked, even more V2 tokens you earn. So far, 474 million Sponge tokens have been staked, and the number is quickly increasing.

With SPONGE V2, the project aims to be even bigger and better than its initial version through its big marketing budget and tier 1 centralized exchange (CEX) listing. According to the project’s tokenomics, SPONGE V2 has a total supply of 150,000,000,000, out of which 10% is for CEX liquidity, 7.50% is for marketing, and a whopping 43.09% of the supply is kept aside for staking rewards. 

But this is not all, as this time around, Sponge also offers the ability to earn more SPONGE V2 tokens by engaging in its new Play-to-Earn (P2E) game, which is yet to be launched. 8% of SPONGE V2 supply is actually allotted to P2E rewards by the anonymous team. 

You can check out Sponge’s whitepaper for more information about the project, and don’t forget to follow it on Telegram, Discord, and Twitter for regular updates.

Hard Cap NA
Total Tokens 150 billion
Tokens available in presale Equivalent of V1 tokens plus staking APR
Blockchain Ethereum
Token type ERC-20
Minimum Purchase None
Purchase with USDT, ETH, Card

3. Bitcoin Minetrix – Promising Altcoin Offering High APYs  

Bitcoin Minetrix ($BTCMTX) is revolutionizing the cryptocurrency cloud mining space by leveraging the $BTCMTX token. This platform will tokenize cloud mining, allowing investors to enter into this space without requiring advanced mining equipment or hardware. 

Bitcoin Minetrix $106K raised

With Bitcoin Minetrix, users can stake their $BTCMTX tokens into an Ethereum-powered smart contract. By staking your tokens, you can generate cloud mining credits, which are non-tradable ERC-20 tokens. However, you can burn these tokens on the ecosystem to receive Bitcoin mining power. 

This, in turn, allows one to earn allocated mining time and a share of the mining revenues. By staking $BTCMTX, token holders can also earn high APYs (Annual Percentage Yields). At press time, the platform is offering APYs higher than 7,000%. 

This new altcoin has recently been launched on presale. From a 4 billion total supply, 2.8 billion tokens will be distributed equally across ten presale rounds. During the ongoing first round, $BTCMTX is priced at only $0.011 per token. The price will hike by 8.1% to $0.0119 by the final round. Interested investors can get started by making a minimum deposit of $10. 

Bitcoin Minetrix stake-to-mine

Through the course of the presale, Bitcoin Minetrix aims to generate a $32 million hard cap. By innovating the cloud mining space and offering transparency and decentralized credits, Bitcoin Minetrix has the potential to become one of the top altcoins in the future. 

Find out more about this cryptocurrency by reading the Bitcoin Minetrix whitepaper and join the Telegram channel

Hard Cap $32 Million
Total Tokens 4 Billion
Tokens available in presale 2.8 Billion
Blockchain Ethereum
Token type ERC-20
Minimum Purchase $10
Purchase with USDT, ETH, BNB

4. Meme Kombat ($MK) – Meme Altcoin With Steady 112% APY and Multiple Betting Options

Meme Kombat ($MK) is an inventive new presale with a unique idea. Instead of revolving around a central meme icon, Meme Kombat features meme vs meme fighting with a number of betting options on the outcome.

Meme Kombat PresaleThe first season features eleven of the most popular celebrity memes – Doge, Baby Doge, Pepe, Floki, Sponge, etc. These memes fight it out, with the order selected at random by AI. AI also helps to render lifelike battle depictions with images that stick closely to the original memes. All fight outcomes are processed on the blockchain to increase transparency and efficiency.

There are three kinds of betting options – Direct, P v P, and P v Game. However, the platform also allows for side bets at the present time. This creates opportunities for betting on multiple aspects of the events, much like how there are many betting options provided by online gambling companies for games and sports. 

There are a total of three main ways to make an ROI from Meme Kombat. The first is the immediate staking APY, which has held steady at 112% since the start of the presale. The second is token appreciation – given the popularity of the meme industry, this new format could do exceedingly well in 2024. And the third is from betting on fight outcomes. The more skillful you become, the more that can be made.

After Season One concludes, more memes and betting options are likely to be added. This presale has a publicly doxxed founder, who can be viewed on LinkedIn. This is very rare among presales and is a very positive indicator in terms of overall transparency. 

The price per token is $0.1667, and this presale has already raised over $600k.

More information can be found in the Meme Kombat Whitepaper, as well as the Telegram and Twitter accounts. 

Hard Cap $10 million
Total Tokens 120 million
Tokens available in presale 60 million
Blockchain Ethereum
Token type ERC20
Minimum Purchase $10
Purchase with USDT, ETH, BNB

5. eTukTuk – Sri Lanka-Based Startup Manufacturing Electric Tuk-Tuks [40% Presale Discount is Still Available] 

eTukTuk is a brand-new startup based in Sri Lanka. It has spotted a huge growth market – electric tuk-tuk vehicles. Currently, there are millions of internal combustion engine tuk-tuks in Asia and Africa. Most of them cause ever-lasting damage to the environment.

eTukTuk, however, is creating affordable tuk-tuks that produce zero-carbon emissions. What’s more, its electric tuk-tuks are Open Charge Point Protocol (OCPP) 2.0 compliant. In simple terms, this means its tuk-tuks can be charged at existing network stations.

eTukTuk presale

One of the key markets for eTukTuk is local taxi drivers. They will have the option of accepting payment in TUK tokens, which are native to eTukTuk. The tokens operate on the energy-efficient Binance Smart Chain. The BEP-20 standard also ensures that payments can be made quickly and cost-effectively.

eTukTuk is undoubtedly a long-term project; it will take time to build brand awareness and convert drivers to its EV ethos. It will initially target the Sri Lankan market before launching in other developing nations. To invest in eTukTuk at the lowest price possible, check out its recently launched presale. For the next seven days, early investors can secure a 40% discount.

Token symbol TUK
Presale supply 200,000,000 TUK
Token type BEP-20
Payment methods ETH, BNB, USDC, USDT, ADA
Listing price Not stated

6. Scorpion Casino – New Decentralized Casino in Presale [Immediate Upside of 194% and 40% in Gambling Credits]    

One of the best altcoins to buy now in presale is Scorpion Casino. This is a new decentralized gambling site that already holds a Curaçao e-Gaming license. It supports over 200 casino games, such as roulette, baccarat, and slots. This is in addition to 160 live dealer tables and over 30,000 monthly sports betting markets.

Scorpion Casino could be huge, considering it offers generous bonuses, anonymous accounts, and super-fast withdrawals. Best of all, you can gain exposure to Scorpion Casino today at a very attractive entry price. You can secure an immediate upside of 194% based on today’s price ($0.017), as SCORP will be listed on exchanges at $0.05 after the presale.

Scorpion Casino presale

However, you’ve only got seven days to secure this low entry price before it increases. Scorpion Casino is also incentivizing early investors with a 40% casino boost. For every $1 you invest, you’ll receive an additional $0.40 in gambling chips – to be used on any Scorpion Casino game.

If that wasn’t enough, presale investors also receive a unique NFT. There are several NFTs available; the one you get depends on the presale purchase amount. The more invested, the better the NFT rewards. It goes without saying that investors are snapping up the generous presale package; almost $1 million has been raised so far.

Token symbol SCORP
Presale supply 200,000,000 SCORP
Token type BEP-20
Payment methods ETH, USDT, BNB
Listing price $0.05

7. Chimpzee – Earn Passive Income While Contributing to Good Causes [94% Presale Upside is Still Available]    

Chimpzee is creating a sea-change in the social and environmental investment niches. This newly launched altcoin offers passive income streams to investors who also want to contribute to good causes. Chimpzee is combatting deforestation through tree planting. It’s also helping to protect endangered species through charitable donations.

It’s already donated money to the Wild Foundation; the funds will help protect desert-adapted elephants from poachers. In terms of earning passive income, Chimpzee offers staking rewards of up to 20% per year. The APY depends on the NFT Passport purchased. Options include Diamond, Gold, Silver, and Bronze.

Chimpzee presale

In addition, Chimpzee allows users to trade NFT Passports on its exchange. Once up and running, trading fees will be distributed in two ways. First, NFT Passport holders will receive a share of the proceeds. Second, Chimpzee will donate some of the proceeds to its partnered charities.

Chimpzee has also created a zero-tolerance game. This allows NFT Passport holders to earn extra income, as gaming rewards are paid in CHMPZ tokens. You’ll also be able to target token appreciation once CHMPZ lists on exchanges. In the meantime, you can buy CHMPZ at presale prices. The exchange listing price is 94% higher than the current presale stage.

Token symbol CHMPZ
Total supply 200 Billion
Presale supply 40 Billion
Network Ethereum (ERC20)
Purchase methods ETH, USDT, Credit Card

8. Solana – Smart Contract Ecosystem Capable of 65,000+ Transactions per Second    

Outside of the presale space, Solana is one of the best altcoins to invest in. Often referred to as an ‘Ethereum Killer’, Solana is a decentralized blockchain that supports smart contracts. But unlike Ethereum, Solana is super-efficient. It can handle up to 65,000 transactions per second and fees are super-low.

Each Solana transaction attracts a fee of just $0.00025. This combination of scalability and cost-effectiveness means that Solana is ideal for dApps. In addition, Solana also supports NFT minting. Solana is also one of the most sustainable blockchains. It claims that one transaction is equal to a “few Google searches”.

Solana price

Although Solana was only launched in min-2020, it’s already valued at over $8 billion. SOL, its native token, has increased by almost 2,400% since launching. SOL is currently trading 92% below its all-time high of $260. You can buy Solana at the regulated broker eToro with a debit/credit card. The minimum deposit is just $10 and fees are very competitive.

9. dYdX – Decentralized Trading Platform Specializing in Leveraged Cryptocurrency Derivatives     

According to CoinMarketCap, dYdX is the largest decentralized exchange for trading volume. In the prior 24 hours, more than $500 million has changed hands. However, unlike other decentralized exchanges – such as Uniswap and PancakeSwap, dYdX specializes in leveraged cryptocurrency derivatives.

Its most popular trading product is perpetual futures. These trade like traditional futures contracts but without an expiry date. Traders can access leverage of up to 20x on dYdX. Not only on Bitcoin but plenty of other cryptocurrencies. This includes everything from Aave and Maker to Solana, Cardano, and Bitcoin Cash.

dYdX price chart

DYDX is the native governance token of the project. It supports staking rewards – currently at 17.35% annually. DYDX holders can also vote on key proposals made by its DAO. This could be the best altcoin to buy for long-term value – DYDX is trading 92% below its all-time high. It also has a modest market capitalization of just over $330 million.

10. Ripple – Established Payments Network Facilitating Cross-Payments for Banks       

Although Ripple is an established cryptocurrency – its progress has been hindered by ongoing court battles with the SEC. For many years, the SEC accused Ripple of selling unregistered securities; its native XRP tokens. However, a US judge recently ruled in favor of Ripple – a major landmark win for the cryptocurrency industry.

This means that XRP is once again one of the best altcoins to invest in. After all, many investors have been holding back until the court case reached a solution. Some of the world’s largest exchanges – including Coinbase and Bitstamp, have also listed XRP since the court ruling.

Ripple price chart

Ripple has some of the best fundamentals in the cryptocurrency space. It allows banks to transfer funds across borders in seconds. Fees amount to micro-pennies, even when cross-currency transactions take place. Banks can use XRP as a bridge of liquidity, so it’s got a huge use case. XRP is trading 86% below its all-time highs.

11. The Graph – Blockchain Indexing Network Enabling Developers to Extract Data        

The Graph is a top-rated altcoin that sits between blockchains and developers. It provides indexing services, allowing developers to extract data from their preferred blockchain. Without the Graph, it would be costly and time-consuming for developers to obtain their required data points.

After all, blockchains store a significant amount of data in a completely unorganized way. Trying to find a book in a library is a great analogy of how the Graph works. Instead of manually checking each and every book for your preferred title, you would ask a librarian for help. They would then point you to the exact location of the book.

The Graph price

Similarly, suppose an app developer wants to display Ethereum transactions in real-time. Through the Graph, the app can filter and sort data as and when it needs it. The Graph is backed by GRT tokens, which follow the ERC20 standard. You can buy GRT at a huge bear market discount of 97%. As such, it’s one of the best cheap altcoins to buy.

12. SushiSwap – Undervalued Decentralized Exchange Supporting Cross-Chain Transfers     

SushiSwap is a decentralized exchange that has been hit hard by the bear market cycle. At its peak in 2021, SUSHI was trading at over $23. Today, it’s valued at just over $0.61. This means that SushiSwap is down over 97%. A return to its peak from current prices would require an upside of over 3,600%.

Even if SUSHI can recover some of its previous valuation when the next altcoin season comes, there is still plenty of upside. What’s more, it’s currently trading with a market capitalization of just $290 million. We also like the SushiSwap fundamentals. It’s an established decentralized exchange that has been operational for just over three years.

SushiSwap chart

Moreover, we like that it supports cross-chain trading. For example, you could swap USD Coin on the Ethereum network for BUSD on the Binance Smart Chain. SushiSwap also supports decentralized liquidity pools. By adding some idle cryptocurrencies, you’ll earn passive income. For example, ILV/ETH is currently yielding 26.40%.

13. Aave – Leading DeFi Ecosystem for Decentralized Lending Agreements [Discount of Over 90% Currently Available]           

Aave is a DeFi ecosystem that supports cryptocurrency lending agreements. It connects investors and borrowers via smart contracts, meaning it never touches client-owned funds. Here’s how it works; Investors lend cryptocurrencies to an Aave liquidity pool, which enables them to generate passive income.

For example, Aave is currently offering 5.15% on USD Coin deposits. The cryptocurrencies will then be lent to borrowers, who pay interest on the loan. On USD Coin, for example, borrowers pay interest of 6.36%. The difference between the APY and APR is used as reserves for potential defaults.

Aave price chart

That said, borrowers also need to put up collateral in order to take out a loan. This helps protect the Aave ecosystem in the long run. Aave’s native altcoin, AAVE, is a governance token. It gives holders the right to vote on key proposals. You can also buy AAVE tokens to gain exposure to the project – they are currently trading over 90% below former all-time highs.

14. Ethereum – Large-Cap Smart Contract Network Supporting Thousands of ERC20 Tokens 

Ethereum is one of the top altcoins for 2024 if you’re looking for a slightly more risk-averse investment. Not only was Ethereum established in 2015 but it’s the largest cryptocurrency for market capitalization after Bitcoin. Ethereum has gone through at least two bear markets and has always recovered – so this is a good sign for long-term investors.

During the most recent bull market, Ethereum hit highs of over $4,900. It also hit a market capitalization of over $500 billion. But today, Ethereum is trading 65% below its all-time high. There’s a lot to like about Ethereum about its decentralized framework.

Ethereum price chart

There are thousands of ERC20 tokens operating on Ethereum, all paying fees in ETH. That said, while Ethereum has completed its proof-of-stake upgrade, transaction fees are still high. Moreover, Ethereum is limited to 30 transactions per second. Fortunately for investors, the Ethereum Foundation continues to work on making its network more efficient.

15. BNB – Binance-Backed Utility Token With a Deflationary Supply

BNB also makes our list of the best altcoins for 2024. Valued at almost $35 billion, BNB is the fourth-largest cryptocurrency by market capitalization. It was created by the Binance exchange and offers many uses, including discounted trading commissions.

It’s also the transactional currency of the Binance Smart Chain. This is a proprietary blockchain network that supports smart contacts, dApps, and decentralized trading. Most pairs on the Binance Smart Chain contain BNB, so it’s also used to fund liquidity pools.

BNB price chart

BNB is also a deflationary currency, meaning its supply gradually reduces over time. This is because of the Binance ‘buyback’ scheme. Put simply, it uses a proportion of trading commissions to buy BNB from the open market and then remove the tokens from the circulating supply. BNB can be purchased today at a 67% discount from its all-time high.

Understanding the Basics of Altcoins

Altcoins are a simple concept; they refer to any cryptocurrency apart from Bitcoin. Whether it’s Ethereum, Litecoin, Bitcoin Cash, Dogecoin, or BNB – these are all examples of altcoins. The exact number of altcoins in existence remains to be seen, as anyone can create one. That said, CoinMarketCap offers real-time prices on over 9,000 altcoins.

There are likely many others in the market, but this highlights that choosing the best altcoin to buy is no easy feat.  Most altcoins are built on top of the Ethereum network. These are known as ERC20 tokens. An increasing number of altcoins are operating on the Binance Smart Chain too. These altcoins are called BEP20 tokens.

If an altcoin operates on another network, it means it doesn’t have its own proprietary blockchain. That said, most altcoins in the top 100 by market capitalization operate on their own network. This includes Cardano, Solana, TRON, Polkadot, and Polygon.

That said, just because an altcoin operates on another network this doesn’t mean it’s not a viable investment. On the contrary, some of the best-performing cryptos in recent years fall within this category. For example, Shiba Inu, Chainlink, Aave, dYdX, and SushiSwap.

5 Reasons to Invest in Altcoins in 2024

We’ll now discuss five core reasons why you might consider investing in altcoins today.

Reason 1: Altcoins can Generate Huge Gains

The main attraction of altcoins is that they offer huge upside potential. There are many examples of new cryptos that have grown by thousands and even millions of percentage points.

For instance, Chainlink was worth just $0.18 per token in 2017. Less than five years later, it was worth nearly $53. This means that early Chainlink investors potentially witnessed gains of over 29,000%. As such, a $1,000 investment could have been worth over $290,000 at its peak.

Then there’s one of the best meme coins Shiba Inu – priced at $0.000000001009 in April 2020. In October 2021, Shiba Inu hit highs of $0.00008845. That’s growth of over 8.7 million percent in just 18 months. So, a $1,000 could have been worth more than $87 million at its peak.

Shiba Inu price chart

Another example is Dogecoin. According to Reuters, Dogecoin rallied by over 14,000% in the first five months of 2021 alone. There are hundreds of other examples, but the point is that altcoins can be an extremely lucrative investment. It’s all about choosing the best altcoin to buy at the right time.

What are the Most Valuable Altcoins?

  • The most valuable altcoins are determined by their market capitalization.
  • Currently, the top five cryptocurrencies for market capitalization are Ethereum, Tether, BNB, XRP, and USD Coin.
  • These five altcoins are collectively valued at over $375 billion right now.

Reason 2: Many Altcoins are Trading 90% Below Their All-Time Highs 

The altcoin markets are super-volatile. Just like Bitcoin, they often experience prolonged bear and bull cycles. For instance, many altcoins registered huge gains throughout 2021 – peaking in November. Since then,  the majority of altcoins have been on a prolonged decline.

  • If you’re new to the market, this enables you to snap up some generous discounts.
  • Many of the best altcoins to invest in 2024 are trading over 90% below their 2021 peaks.
  • This includes dYdX, Solana, Aave, and the Graph.
  • SushiSwap is also trading at a huge discount of 97%. As we mentioned earlier, gains of 3,600% will be made if SushiSwap regains its former all-time high.

The best strategy here is to buy lots of top-rated altcoins that you believe could recover their losses during the next bull run. Not all will, but even if one does, you could make significant returns.

This is similar to buying oil at $19 per barrel in the midst of the COVID-19 pandemic. Or investing in the S&P 500 during a global recession. In other words, you’re buying quality altcoins at a discounted entry price. Most importantly, your chosen altcoins will have lost value because of broader market conditions – not because of internal problems.

Reason 3: Altcoin Presales Offer Lots of Opportunities for Rapid Growth  

If you’re new to altcoin presales; they follow a similar concept to initial public offerings (IPOs). For instance, before a company lists on a stock exchange, it raises funds from early investors. Those investing in a stock IPO usually receive a discounted price. After the IPO, the stocks are listed on an exchange, enabling investors to buy and sell them.

What’s the Difference Between a Presale and an ICO?

  • Presales and initial coin offerings (ICOs) are terms used interchangeably. They refer to the exact same process. Meaning, presales and ICOs allow new altcoin projects to raise funds from investors.
  • Then there’s an initial exchange offering (IEO), which sees new altcoins raise funds directly on a centralized exchange. After the fundraising campaign finishes, it will then trade on the respective exchange.
  • In addition, the best new altcoins can also raise funds through an initial DEX offering (IDO). These work similarly to IEOs, but through decentralized exchanges.

Presales work much the same way. A brand-new project will create a new altcoin. Before listing on a cryptocurrency exchange, the project will collect funds from investors. Similar to IPOs, most offer a presale discount. This incentivizes people to invest before the exchange listing.

Wall Street Memes presale

For example, the yPredict presale is currently offering a 20% discount. Currently, you’ll pay $0.10 per YPRED token. Once YPRED is listed on exchanges, the price will increase to $0.12. Launchpad XYZ is also offering a presale discount, albeit, slightly smaller at 19%.

Another benefit of altcoin presales is that you will be investing in a brand-new project. You’ll likely get the lowest price possible. And, the presale will likely be listed on exchanges with a small market capitalization. So you’ll be able to target attractive returns.

To illustrate how popular presales are right now, Wall Street Memes has already raised $25 million. yPred has raised $3.6 million while Launchpad XYZ has just surpassed $1.5 million. Presales can explode after their exchange listing, as FOMO (fear of missing out) can quickly kick in with those who missed out.

What Exchanges do Presale Altcoins List on?

  • The vast majority of presale altcoins will list on decentralized exchanges, such as new Binance listings
  • This is because there is no requirement to apply for a listing. On the contrary, projects can list their own altcoin on a decentralized exchange via their unique smart contract address.
  • However, a small number of presales will secure centralized exchange listings from the very get-go. This is usually because the project offers a unique product or service, or it’s created a lot of presale hype.
  • Wall Street Memes has already secured multiple tier-one exchange listings. An announcement of the specific exchanges will be made soon. 

Reason 4: Lots of Altcoin Investments are Micro-Cap Gems   

If you’re a conservative investor who can’t handle volatility or risk, then micro-cap altcoins won’t be for you. However, if you have realistic goals and are prepared to lose what you originally invested – micro-caps can be lucrative investments.

After all, micro-cap altcoins are often worth just a few million dollars. These altcoins can explode in value very quickly; as there is limited ‘market depth’. In a nutshell, the market depth of an altcoin refers to how much buying or selling pressure it would take to move its price in either direction.

For example, consider what would happen if somebody invested $50,000 into Bitcoin. The answer? Absolutely nothing. The reason is that Bitcoin is a large-cap cryptocurrency valued at over $500 billion. So a small investment of $50,000 wouldn’t move its price at all.

Reason 5: Creating a Diversified and Balanced Altcoin Portfolio is Seamless   

There are many success stories in the altcoin space. Earlier, we mentioned Shiba Inu, Chainlink, SushiSwap, BNB, Solana, the Graph, and others. However, there are also a significant number of altcoins that are no longer active. By this, we mean that many altcoin projects have been abandoned – leaving investors with worthless tokens.

The reality is that you can buy an altcoin and it loses the vast majority of its value. Even if you witness growth, you might have issues with liquidity. This means that you’ll be unable to find a buyer when you want to sell. Or you might need to accept a highly unfavorable price to cash out.

  • So, the best strategy to take is to diversify.
  • In a nutshell, you’ll reduce the risk of picking unsuccessful altcoins by investing in many different projects.
  • Fortunately,  you’ve got thousands of altcoins to choose from, so creating a diversified portfolio is seamless.
  • Moreover, you only need to invest a few dollars into each altcoin.

It’s also important to have a well-balanced altcoin portfolio. This means investing in different types of altcoins across micro, small, medium, and large-cap valuations. Risk-averse investors will allocate the majority of their portfolios to altcoins with an established track record – such as Ethereum, BNB, and Solana.

They will then allocate the remainder of their portfolios to higher-risk altcoins. This is in addition to small caps like SushiSwap and dYdX. Ultimately, you should avoid putting all of your eggs into one basket. If you pick the wrong altcoin, you could lose the majority of your capital.

How Many Altcoins Are There?

According to the UK’s financial watchdog, the FCA – there were over 20,000 altcoins in early 2023. The FCA explains that most of these altcoins are “no longer traded”. CoinMarketCap, on the other hand, currently lists over 9,000 altcoins. Many of the altcoins on CoinMarketCap have no trading volume. In other words, the projects are considered ‘dead’.

You’ll find many more altcoins listed on decentralized exchanges. DexTools lists data for more than 2 million. But again, most have little to no altcoin trading volumes. You’ll want to avoid altcoins that are no longer actively traded. While you might find it easy to enter the market, selling your tokens will prove challenging, if not impossible.

Where You Can Locate the Best Altcoin Investments in 2024

We’ve established that while the exact figures are unknown, there are a significant number of altcoins in the market. You won’t be able to research each and every altcoin.

In the same way, you won’t be able to analyze the thousands of stocks listed on the NYSE and NASDAQ. So, you’ll need to niche down. Below, we explain where to look when deciding what altcoin to buy.

Leading Altcoin Exchanges   

First, consider going directly to the source – cryptocurrency exchanges. The most popular cryptocurrency exchanges usually offer real-time data. For example, which altcoins have increased the most in the prior day of trading. And those that have made the biggest declines. Both metrics can be useful when choosing the best altcoin to buy.

For example, Binance – the world’s largest exchange for trading volume, has a top gainers and losers section. At the top of the page, hover your mouse over ‘Markets’. Then click on ‘Trading Data.

top gainers and losers section on Binance

As per the screenshot above, we can see that JOE, QUICK, and PIVX have increased the most in the past 24 hours. We can also see that SEI, WLD, and GMX have made the largest declines. Next, make a note of these altcoins and visit the CoinMarketCap website.

You can research each altcoin to assess why it’s increasing or decreasing in value at a faster rate than the market average. For example, is the altcoin increasing because of positive news? Or is it on a prolonged upward trajectory that’s lasted several days? Crucially, you’ll want to obtain as much information as you can before making the next move.

What is the Best Exchange to Buy Altcoins?

  • There are more than 200 altcoin exchanges in the market. However, depending on the altcoin, they might only be listed on selected exchanges.
  • For instance, established and large-cap altcoins – such as Litecoin and Ethereum, will trade on the majority of exchanges. In this regard, your best bet is eToro. It lists the most popular altcoins and you’ll only need to risk $10 on each trade. Moreover, eToro is regulated by tier-one licensing bodies, including FINRA.
  • If you’re interested in a new or small-cap altcoin, you might only have a few options. This could be a decentralized exchange like Uniswap. You can visit the CoinMarketCap website to see what exchanges your preferred altcoin is listed on.
  • If you’re investing in an altcoin presale like Wall Street Memes, you can buy the tokens directly from its website.

Trending Altcoins on CoinMarketCap   

CoinMarketCap offers the most comprehensive data on altcoins. This includes trading volumes, market capitalization, token holders, exchange listings, and much more. That said, one of its best features is the ‘Trending’ page. This shows you the most trending altcoins in the prior 24 hours.

This is based on the number of searches or visits a specific altcoin gets. In many cases, you’ll find established altcoins like Shiba Inu, Ethereum, and XRP. However, you might also find some hidden gems.

CoinMarketCap trending

For example, in the image above, CoinMarketCap shows that CyberConnect is the most trending altcoin right now. It generated gains of 113% in the prior 24 hours. And 373% gains in the prior 30 days.  In addition, you’ll also see trending cryptocurrencies for the wrong reasons.

For example, an altcoin might be ‘Trending’ on CoinMarketCap because it’s tanking in value. CoinMarketCap offers many other useful data points on its website. For example, you can also view the biggest gainers and losers over the past 24 hours. You can also explore the most recent cryptocurrencies to be added to its platform.

YouTube Influencers    

While YouTube influencers can be a great way to find the best altcoins to buy, you’ll need to tread carefully. Put otherwise, this strategy is a double-edged sword.

For example, the NY Times reported on the rise of YouTube influencers promoting scam projects. In particular, the report references Logan Paul and his CryptoZoo project, which ended up losing investors millions of dollars. Most YouTube influencers have no affiliation with the altcoins being promoted – they are simply paid to do so.

Jacob Bury crypto YouTuber

That being said, there are many legitimate YouTube channels that offer impartial opinions on which altcoins they think will explode. For instance, Jacob Bury is a popular cryptocurrency analyst who has a growing YouTube following. Not only does he perform technical and fundamental analysis for his followers, but he also discusses his favorite presales.

This includes the Wall Street Memes presale that we discussed earlier. Jacob Bury began talking about Wall Street Memes right from the presale’s launch – it’s now raised more than $25 million. You’ll also find that Jacob Bury has tipped many other successful presales, such as Lucky Block’s 60x rally in 2022.

See What Altcoins Are Popular on Reddit     

When searching for the best altcoins to buy, it’s also a good idea to research Reddit. There are lots of groups associated with altcoins; some have millions of members. For example, it’s worth starting with the r/CryptoMoonShots group – home to over 1.9 million members. This Reddit group discusses low-cap altcoins that have ‘moonshot ‘ potential.

You are advised to read the risk warnings in this group before proceeding – as it’s often filled with scammers. Nonetheless, if you find a specific altcoin that has a lot of mentions, likes, or shares – this could be a good sign. You can then read the project’s whitepaper to find out whether it’s worth considering.

https://www.reddit.com/r/SatoshiStreetBets/

r/SatoshiStreetBets is another popular Reddit group for discussing altcoins. This group has over 1.5 million members and aims to find the next 100x altcoin. You can follow a similar strategy as the r/CryptoMoonShots group – look for trending altcoins that are gaining traction.

What are the Risks of Investing in Altcoins? 

Altcoins allow you to target significant returns on your investment. When prices are rising parabolically, it can be exciting to see your money grow in a very short period of time. However, like any asset class, you need to consider the risk-reward spectrum. This means that the higher the potential returns, the higher the risks.

There are many risks that you’ll need to consider, including:

Volatility

Once you’ve invested in an altcoin, its price will rise and fall. But unlike blue-chip stocks – which are relatively stable, altcoins can be super-volatile. For example, in the prior 24 hours of trading, some altcoins have increased by hundreds of percent.

This includes Risitas (999%), BREPE (236%), and Decentralized Activism (136%). At the other end of the scale, some altcoins have lost over 90% in the prior 24 hours. This shows that an altcoin can lose almost all of its value in just one day.

Exchange Risks

You should also consider the risks of using an exchange. On the one hand, several exchanges have a strong regulatory framework. eToro, for example, is regulated by FINRA, FCA, CySEC, and ASIC.

  • However, the majority of exchanges hold no regulatory licenses at all.
  • While others are located in offshore locations with lax laws.
  • Take FTX as a prime example – which was headquartered in the Bahamas. FTX filed for bankruptcy in late 2022 – ‘losing’ billions of dollars worth of client-owned funds.

As such, do your research when exploring where to buy altcoins.

Scams and Hacks

The altcoin industry attracts bad actors – so you’ll need to ensure you’re aware of the potential risks. For example, if you’re investing in new altcoins, do plenty of due diligence. See if you can find information about the project’s founders and what experience its development team has.

You should also research the whitepaper extensively and fact-check any claims it makes. In addition, ensure its smart contract has been audited by a reputable entity, such as 0xGuard.

  • Once you have purchased altcoins, you’ll need to keep them in a wallet.
  • If you opt for a self-custody wallet – you are responsible for keeping it safe.
  • In other words, if you’re wallet is hacked, your altcoins will be stolen.
  • Best practices to keep your altcoins safe include cold storage, two-factor authentication, and a strong password.

You should also avoid clicking on any links received from unknown senders. This could be a virus, malware, or keyloggers – all of which can hack your wallet remotely.

Conclusion

In summary, we’ve highlighted the top altcoins to watch in 2024, and our primary recommendation is Smog ($SMOG). It is Solana-based meme coin with a massive airdrop and high staking rewards.

References

FAQs

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By Michael Graw

Michael is a vastly experienced writer who's well versed in everything blockchain, having been covering the crypto space for over 5 years. Hailing from Bellingham, Washington, Michael has featured on respected sites such as CryptoNews, InsideBitcoins, TechRadar, Techopedia, and Tom's Guide.