Best Altcoins to Invest in April 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.

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. Dogeverse – A bridge to the future of meme tokens

Dogeverse is one of the best altcoins to buy in 2024 for investors who are looking for a long-term meme coin opportunity.

As the world’s first truly multi-chain Doge token, DOGEVERSE serves as a bridge to the future of finance.

By leveraging the power of blockchain interoperability, DOGEVERSE transcends traditional boundaries, connecting disparate crypto communities in a shared ecosystem of innovation and exploration.

The token will be launched on six blockchain networks: Ethereum, BSC, Polygon, Avalanche, Solana and Base.

Dogeverse offers on-chain staking which will allow investors to earn passive rewards. Early investors will be able to access the highest rewards by participating in the presale event.

Your money is at risk.

2. Slothana – Best Altcoin To Buy To Participate in a Pump

Slothana is the latest SOL meme token to make headlines in the crypto space. The project aims to replicate the success of BONK and DogWifHat and generate huge returns for early investors.

Like other successful meme tokens, Slothana will use hype and FOMO to attract investors and pump the value of the token.

Slothana is a traditional meme coin that has been created to pump and see huge growth in a short space of time. For this reason, Slothana is a volatile investment that is suitable for investors with a high risk appetite.

The official project website hints at a potential airdrop that could reward presale investors with free SLOTH tokens. However, no further details have been given.

The Slothana presale is expected to sell out quickly. This could be the last chance to buy tokens before the upcoming pump.

Your money is at risk.

3. MegaDice – The best crypto casino altcoin

DICE is the new native utility token of the MegaDice crypto casino. MegaDice has emerged as one of the most popular crypto casino options and the new token brings added utility to the ecosystem.

DICE holders not only enjoy exclusive benefits within the Mega Dice ecosystem but also have the opportunity to earn passive income through the Mega Dice Referral Program. With a generous 25% rev-share, DICE holders can capitalize on their network and maximize their earnings, further solidifying their position within the Mega Dice community.

You can buy DICE tokens for a discounted price during the ongoing presale event.

Your money is at risk.

4. 99Bitcoins – Learn-to-earn crypto education platform with lucrative rewards

If you’re looking to invest in a token that offers excellent rewards, 99Bitcoins could be the best project to consider. The platform is a learn-to-earn education site that rewards users for learning about crypto.

99Bitcoins is an established platform that already has a user base of over 700k. The new learn-to-earn offering will reward users for their participation and encourage a new wave of participants who want to learn about crypto.

To access the platform, you will need to buy 99BTC tokens from the presale. You can then use the tokens to access guides, unlock platform features and take part in staking.

Your money is at risk.

5. 5thScape – The best VR altcoin to buy for long term growth

5thSacpe is a new blockchain-based VR gaming ecosystem that aims to become one of the leading developers in the industry.

As the VR industry continues to evolve and expand, 5SCAPE Coin offers a glimpse into the future of gaming. With complimentary access to digital products, exclusive discounts, and seamless transactions, 5SCAPE Coin enhances the virtual reality experience in ways that were previously unimaginable.

The 5SCAPE token will be used to pay for transactions in the ecosystem, reward developers, and reward players for winning games. 5th Scape is on a mission to revolutionize the AR & VR space with its tokenized ecosystem.

The project has a robust roadmap that could lead to long term growth. Therefore, 5SAPE stands out as one of the best long term cryptos for altcoin investors.

Your money is at risk.

6. 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.

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.

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.

7. 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.

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.

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.

8. 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. 

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. 

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. 

9. 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.

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.

10. 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.

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.

11. 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”.

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.

12. 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 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.

13. 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.

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.

14. 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.

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%.

15. 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 Dogeverse (DOGEVERSE). It is Doge-based meme coin with multi-bridge utility and on-chain staking.

Your money is at risk.

FAQs