Best Altcoins to Buy Now for 2024

As of 2024, there are approximately 20,000 cryptocurrencies on the market. The total accumulated crypto market cap has surpassed $2 trillion USD, and trading volumes can reach over $75 billion daily. Hundreds of millions of investors all across the globe are buying crypto assets.

Suppose you’re looking to buy altcoins to build a solid portfolio of digital assets as the world moves to a more digitized way of life. In that case, finding time to research the best altcoin projects, read whitepapers, and do technical analyses on altcoin charts can be difficult. In this guide, we’ll list and review what our analysts consider the top altcoins to watch now and where to buy altcoins safely on a secure crypto platform.

Best Altcoins to Buy April 2024 – Top 10+ List

Best Altcoins Reviewed – Analysis

Many of the best altcoins to buy now that we review are listed on a user-friendly crypto trading platform eToro.

eToro is a social trading platform where you can network with other investors for thoughts on the altcoin markets and prices, even those that aren’t yet available to buy on the platform.

Below we take a closer look at what top altcoins to buy right now:

Dogeverse (DOGEVERSE) – Multi-Chain Altcoin with Multiple Perks

Dogeverse has emerged as one of the best altcoins of the year, presenting users with a multi-chain asset that operates across six different blockchain chains. This dynamic capability positions it uniquely within the expansive crypto landscape.

Featuring a doge-based mascot named Cosmo, Dogeverse is said to encompass the fun spirit of meme coins and capture the vast potential of the blockchain universe. The mascot’s story and design resonate with the concept of a boundless digital cosmos where possibilities extend across multiple realms.

Enabled by cutting-edge interoperability solutions like Wormhole and PortalBridge Technologies, Dogeverse has proven itself as a multifaceted meme coin offering numerous benefits.

Its presence on multiple chains enhances accessibility for investors seeking cost-effective entry points into the crypto market and improves transaction efficiency in terms of both speed and fees. This approach also fosters a vibrant multi-chain community, setting the stage for Dogeverse to potentially become the next major DOGE-based sensation.

Despite its seemingly simple nature, Dogeverse possesses a rich and complex backdrop that appeals to both novices and seasoned investors. While the immediate goal for this token is to secure a spot on a centralized exchange following the conclusion of its presale, the multi-chain attributes give it the possibility of introducing more use cases.

Those interested in joining this promising multi-chain venture should explore further at thedogeverse.com.

Visit Dogeverse

WienerAI (WAI) – Trending Memecoin With a Humorous Concept

Positioned at the intersection of AI technology and the meme coin craze, WienerAI presents an enticing opportunity for those seeking to diversify their altcoin portfolio with a touch of innovation and humor. The project is perfect for the current market conditions as well, which have been showing signs of volatility all while keeping the memecoin space active.

At its core, WienerAI embodies a narrative that transcends traditional altcoin paradigms. Conceived as the brainchild of The Architect, a maverick scientist with a penchant for the eccentric, WienerAI blends elements of advanced AI research with a comedic twist involving sausage DNA mishaps. This distinctive storyline not only captures the imagination of crypto enthusiasts but also injects a dose of levity into an often-serious market.

However, WienerAI’s appeal extends far beyond its amusing premise. With a meticulously designed tokenomics structure and a commitment to community engagement, WienerAI offers investors the opportunity to participate in a project with both substance and style. The project’s high staking rewards, coupled with an audited contract for investor security, underscore its commitment to delivering value in a volatile market landscape.

For those seeking an altcoin investment with the potential for exponential growth, WienerAI presents a compelling case. Its presale success and growing community support suggest that momentum is building, paving the way for a potential breakout in the altcoin market. As investors rush to join the “wiener army” and capitalize on the project’s early success, WienerAI emerges as a beacon of opportunity in the ever-evolving world of cryptocurrency.

Visit WienerAI Presale

Mega Dice (DICE) – Top Altcoin with GameFi Perks

Mega Dice is emerging as one of the top altcoins in the market with significant potential. It is carving a niche in the GambleFi sector, taking cues from the recently released GameFi cryptos like Scorp by offering its native cryptocurrency, allowing participants to own a stake in the casino.

The crypto being offered here is $DICE. It is an ERC-20 token developed on the Solana blockchain, not only grants exclusive access to certain games and NFTs but also enables holders to benefit from the growth of Mega Dice Casino.

This token boasts multiple advantages. Firstly, it capitalizes on the unique benefits of being a GameFi token.

However, it also banks on the narrative put forward by Solana. Its presence on the Solana blockchain adds a layer of credibility and potential for growth, as Solana-based assets have demonstrated strong performance this year. The dual appeal of being a GamebleFi token on a robust platform like Solana could enhance its long-term attractiveness.

The project has already secured over $350,000 in funding in its ongoing presale. For more information, visit megadicetoken.com.

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99Bitcoins (99BTC) – Altcoin Powering an Learn-to-Earn Platform

Since 2013, 99Bitcoins has been regarded as a stronghold of crypto education. Its simplified and engaging approach to the cryptosphere has been well received, with its YouTube channel, which currently has over 700k subscribers, especially getting recognition for its efforts to simplify the understanding of blockchains from basics.

With the rollout of its new Web3 platform, 99Bitcoins is enhancing its educational offerings. This platform is powered by the ERC-20 token, 99BTC, now touted as one of the best altcoins in the Learn-to-Earn (L2E) sector, where participants can earn crypto by engaging with the cryptocurrency market.

99Bitcoins also offers additional benefits, including staking rewards, access to exclusive training modules, crypto signals, and a community of crypto experts who share their insights and expertise.

The official presale of 99Bitcoins is already making significant strides, having raised over $400k. As the multi-staged presale progresses quickly, prospective investors are encouraged to act promptly by visiting presale.99bitcoins.com.

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Slothana (SLOTH) – Sloth-based Meme coin Inspired by Recent Events

All it takes is one moment for an altcoin to go viral. Soon after, the market becomes flooded with similar assets trying to replicate the success of the original meme coin. However, Slerf’s growth on the price charts was mostly a mistake (or a well-calculated blunder) that pushed its value rapidly as exchanges came from across the corners to support it.

This event is very recent, but it has already created a second Sloth-based meme coin on the Solana blockchain. Known as Slothana, this token takes the imagery of the original Slerf, adds some definition to it, and provides it as a presale so that Slerf’s growth can be replicated again.

While it is not certain whether it will be able to accomplish it, degens around Twitter are loving it.  Even the likes of Wall Street Memes, one of the leading crypto presales of 2023, have come out to support this token, saying “to the moon” on Twitter in regards to SLOTH.

#slothana 🐐

— Wall Street Memes (@wallstmemes) March 25, 2024

Available as a presale-modeled airdrop, sending SOL tokens to a specific address mentioned on the official website is how people can participate in it. Those who dare to become part of this limited utility ecosystem can visit the official website to get started.

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5th Scape (5SCAPE) – Best Altcoin Powering a VR-Gaming Ecosystem

One of the best altcoins that have come out this year is 5th Scape. It focuses on introducing VR gaming in the blockchain ecosystem. Even though the concept it is trying to bring isn’t necessarily new, it is going something different that makes it stand out.

The difference comes with the addition of a physical and a virtual ecosystem. The virtual ecosystem is a platform for VR gaming—think Steam, but for blockchain-powered VR gaming. However, this ecosystem also provides developers with tools to create their own games.

In addition to these games, 5th Scape is also introducing VR headsets and gaming chairs to its product segments. These products have been defined as high-tech and focus deeply on creating a more immersive experience.

The main asset powering the ecosystem is 5SCAPE. It is a utility token used by gamers to buy gameplay assets or games, and for developers, this token will act as a reward.

5SCAPE is part of an ongoing multi-stage presale, which allows users to become early movers. Those interested can visit 5thscape.com.

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Sponge V2 (SPONGEV2) – Best Altcoin to Buy For Staking

People don’t often think of a memecoin being suitable for staking, but Sponge V2 is different. It has multiple attributes that work together to make it one of the best altcoins to have come out this year. 

These attributes are the result of its origin. Sponge V1 was one of the biggest memecoins hits of 2024 that took the market by storm thanks to memecoin mania. While the token’s value subsided shortly afterward, its community continued to persist, leading to the emergence of a bridge, the result of which is the Sponge V2 token. 

Getting Sponge V2 token currently requires staking Sponge V1. Those who stake their Sponge V1 tokens for the long-term will also earn bonus rewards. 

The second unique mechanic for Sponge V2 is the addition of P2E. Players will be able to play the upcoming P2E game and earn Sponge V2 tokens. The game is tackling two things: making Web 3 gaming more appealing to Web 2 players and providing a robust P2E mechanic to Web 3 players. 

These factors have come together to turn Sponge V2 into an asset whose value extends beyond its meme-based origin. There are 150 billion tokens in total, and more than 400 million have been staked already. 

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Smog (SMOG) – Top Solana-Based Memecoin to Buy in 2024

By launching on Jupiter DEX without much fanfare and still managing to move up on the price charts by more than 2800%, Smog has established itself as the best altcoin to invest in 2024.

This Solana-based meme coin has experienced the same trajectory as other leading Sol-based meme coins like Myro and Bonk. However, there are fundamentals within this project that make it a better investment for both short and long-term holders.

Short-term investors may want to consider parking their funds into Smog due to its unique meme-based nature. Past Solana-based tokens made 5-digit gains before correcting, and the same can happen with SMOG.

For long-term investors, however, it is the project’s unique airdrop-focused appeal that is gaining interest. This airdrop is gamified, meaning there won’t be any randomness to the way SMOG tokens will be distributed. They will be allocated to SMOG holders upon completing specific tasks and accumulating airdrop points. Since the token has 1.4 billion total supply with over 35% dedicated to the airdrop, multiple airdrops are planned, making it a viable long-term investment.

Furthermore, the project has launched staking recently, giving holders access to passive income beyond airdrops. Smog devs have also launched an ETH-bridge, allowing investors to swap ETH for SMOG. Those who want to buy the token can also do so directly from the website now.

The token’s dragon-based aesthetics is another reason to rally behind this asset, as it adds a more fantastical narrative to the Solana ecosystem.

Overall, Smog has all the traits a viral meme coin needs to get started, and its unique utilities are the reason we have added it to the list of best altcoins of 2024.

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eTukTuk (TUK) – Green Crypto With an EV-Focused Concept

While numerous cryptocurrencies claim to be eco-friendly, only a few actively address environmental issues. eTukTuk stands out as an initiative committed to sparking an electric vehicle (EV) revolution by enhancing both the accessibility of transportation and its ecosystem for potential users. The project encompasses two key components: an EV Tuktuk vehicle and a comprehensive network of charging stations designed to facilitate convenient charging for vehicle owners. With this combination, the project aims to establish an entirely new and eco-friendly commuting industry.

As an altcoin, eTukTuk’s TUK token emerges as an excellent consideration for several reasons. Firstly, it is currently in its presale phase, offering investors the opportunity to acquire tokens at a lower price compared to the launch phase. Secondly, the token already holds substantial utility, serving as a means of payment at charging stations. Its value is expected to increase further when the project introduces its play-to-earn (P2E) game, also powered by the TUK token.

The growth potential of eTukTuk as a project is substantial, thanks to its innovative and practical concept. A clear indicator of this potential is the project’s impressive achievement of raising over $550k within just a couple of weeks of the presale launch. With a rising demand for the project and a concept aligning with current market trends, this altcoin deserves a spot on the watchlist of all altcoin investors.

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Bitcoin Minetrix (BTCMTX) – Top Altcoin that Can be Used for Mining BTC

Bitcoin Minetrix is a promising altcoin with a unique approach to Bitcoin mining. It aims to make mining more accessible and secure through a method called stake-to-mining. This approach has garnered attention from crypto enthusiasts worldwide, creating buzz on social media and within the crypto community.

Bitcoin Minetrix introduces a special system for cloud mining, eliminating upfront costs and enhancing security. This means people can get into mining more easily. Instead of dealing with complex contracts, users can buy and stake $BTCMTX tokens to earn cloud mining credits. These tokens can’t be transferred and are used for mining or earning a share of the profits.

Users can choose to unstake their tokens and sell them on public markets whenever they wish. Despite being recently announced, the Bitcoin Minetrix presale has already raised a significant amount of money, showing great promise. Their presale goal is a little over $15 million, and they’re well on their way to reaching it. This project is definitely worth keeping an eye on in the world of cryptocurrency.

Visit Bitcoin Minetrix Presale

Cardano (ADA) – Backed by a Solid Proof-of-Stake Blockchain Platform

According to Cardano’s website, this proof-of-stake blockchain platform aims to empower “changemakers, innovators, and visionaries” to benefit the world. By “redistributing power from unaccountable systems to the fringes to people,” the open-source initiative also makes society more safe, transparent, and equitable.

Gerolamo Cardano, a 16th-century Italian polymath, was the inspiration for the name Cardano, which was formed in 2017. It is said that Ada Lovelace, a 19th-century mathematician generally recognized as the world’s first computer programmer, is the inspiration for the native ADA token. Owners of ADA tokens can participate in the network’s functioning thanks to the token’s architecture. As a result, users who own the cryptocurrency can vote on any modifications to the program that may be suggested.

According to the team behind it, decentralized applications and smart contracts can be built modularly thanks to the layered blockchain technology.

Charles Hoskinson revealed the Alonzo hard fork in August of 2021, leading Cardano’s price to soar by 116% the following month after the announcement. Alonzo, the first hard fork of the Cardano blockchain, will be live on September 12, 2021. The first 24 hours after the launch saw the deployment of over 100 intelligent contracts.

Other Cardano-based applications provide for the secure storage of educational credentials and detecting counterfeit goods by shops and agricultural enterprises.

Buy ADA

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Pendle (PENDLE) – Yield Sharing Network

Pendle is a blockchain project that promises a fixed yield to everyone. This yield-sharing network allows investors to control their yields to hedge against market risks. 

In essence, the project’s main goal is the tokenization and trading of future yields. It has created a unique automated market maker that supports assets with time delay. This approach to allowing users to control their future yields is said to optimize staking rewards. 

The platform is also cross-chain compatible, available on Ethereum, Arbitrum, BNB Chain, and Optimism. There are three elements that lie at the core of this technology: yield tokenization, Pendle AMM, and vePendle. 

Yield tokenization allows users to split their yield-bearing assets into separate yield and principal components, similar to the principal amount and interest. The Pendle Automated Market Maker allows investors to concentrate liquidity when trading yield and vePENDLE is what users will gain upon staking their $PENDLE tokens. 

These attributes and the recent market movements allowed this altcoin to become trending on the price chart. In terms of future developments, Pendle has recently partnered with Renzo Protocol to get easy access to yields. 

Buy PENDLE

Pyth Network (PYTH) – Providing Real-Time Price Feed to Dapps

Pyth Network presents users with one of the fastest-growing third-party oracle networks, delivering real-time market data to financial decentralized applications across more than 45 blockchains. It is said to deliver over 400+ price feeds that are said to be very accurate. 

The financial data it delivers is not limited to cryptocurrencies; equities, FX, and commodities are also covered. So far, the project has gotten major participants, including CBOE, Binance, OKX, Bybit, and Jane Street. 

According to the whitepaper, a “pull” method is being used by the project to aggregate prices. According to the Pyth Network, this approach makes the aggregation on a cheap chain. 

Pythnet is a Solana fork, which gives it low latency, giving users high-frequency price updates. 

At present, Pyth Network is said to allow more than 80 million updates per day for more precise and secure information. 

Due to these factors, Pyth Network is getting attention as the best altcoin for those who are looking for data on demand. Price-wise, the project has seen a fair amount of growth and is currently trading around the $0.4 range.

Buy PYTH

Ethereum (ETH) – The first Altcoin Ever Released

The open-source blockchain platform Ethereum has its own native currency, Ether. Many additional cryptocurrencies and decentralized intelligent contracts can be run on the Ethereum platform.

Vitalik Buterin published a whitepaper outlining the concept of Ethereum in 2013. In the summer of 2014, Buterin and his co-founders raised money for the project via an online public crowd sale. Bitcoin raised $18.3 million, Ethereum’s ICO price was $0.311, with more than 60 million Ether being sold by the project team.

With the current price of Ethereum, your annualized return on investment (ROI) is over 270 percent, effectively quadrupling your investment every year since the summer of 2014.

After months of testing and development, the Ethereum Foundation, on July 30, 2015, formally published the blockchain under the codename “Frontier.” Some network upgrades have occurred since then: “Constantinople” on February 28, 2019, “Istanbul” on December 8, 2019, “Muir Glacier” on January 2, 2020, “Berlin” on April 14, 2021; and most recently, “London” on August 5, 2021.

With the stated objective of becoming a global decentralized application platform, Ethereum aims to enable programmers worldwide to create and operate software resistant to censorship, downtime, and fraud however they see fit.

Buy ETH

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Ripple (XRP) – Backed by a Global Digital Transaction Network

A cryptocurrency payment system developed by Ripple Labs Inc., XRP is the system’s native currency. Ripple has created a “digital asset intended for global payments” called XRP to compete with the banking sector. XRP might interest individual consumers and banks because of its cheap transaction fees. In addition to its ultra-low transaction fees, Ripple boasts a transaction completion time of under five seconds.

Chris Larsen and Jed McCaleb started the startup in 2012, based on Ryan Fugger’s work on the XRP Ledger. XRP Ledger is a peer-to-peer network-based open-source cryptographic ledger. Ultimately, McCaleb departed Ripple and developed Stellar, a payment-focused cryptocurrency.

As a result of the company’s name change to Ripple from OpenCoin, Ripple has established strategic alliances with major financial institutions such as Bank of America, Santander, and Standard Chartered. As a result of Ripple’s failure to comply with the Bank Secrecy Acts, the company was declared unregistered securities by US regulators very quickly.

Buy XRP

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Solana (SOL) – A Relatively New, Fast-growing, and Greener Alternative to Larger Altcoins

The open-source Solana project uses the permissionless aspect of blockchain technology to deliver decentralized financial (DeFi) solutions. As of March 2020, the Solana Foundation’s headquarters in Geneva, Switzerland, has formally begun the project.

Decentralized applications (DApps) may be built using the Solana protocol. Staking and the blockchain’s underlying proof-of-history (PoH) consensus are coupled to increase scalability.

Small-time traders and institutions alike are interested in Solana’s novel hybrid consensus strategy. The Solana Foundation is particularly interested in expanding the reach of decentralized finance.

The current Solana price is $114.49 USD, with a trading volume of $2,968,665,857 USD in the last 24 hours. In real-time, we convert our SOL to the USD price. The price of Solana has dropped by 0.20 percent during the past day. There is a live market capitalization of $37,221,287,633 USD on CoinMarketCap. 325,110,998 SOL coins are in circulation, but the maximum supply is unavailable.

Buy SOL

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Binance Coin (BNB) – A Utility Coin Based on its Own Exchange Platform

Binance was launched in July 2017 and is now the world’s largest cryptocurrency exchange in terms of trading volume. Binance aims to put cryptocurrency exchanges at the center of global financial activity. The word “Binance” refers to a new financial paradigm known as “Binary Finance,” or simply “Binance.”

In addition to becoming the world’s biggest cryptocurrency exchange, Binance has created a whole ecosystem of features for its customers. Among the Binance network’s many projects is a chain of blockchain-powered projects called Binance Chain, which comprises the Binance Smart Chain, Binance Academy, Trust Wallet, and Research initiatives. Many Binance sub-projects rely heavily on BNB for their success.

Binance is a decentralized, blockchain-based network environment unlike any other. As a top cryptocurrency exchange in many countries, the company’s side organizations are also drawing attention.

Binance’s relentless pursuit of innovation is one of its most significant competitive advantages. While Binance began as a cryptocurrency exchange in 2017, the firm has expanded its services to include various industries. According to the business website, the goal is to be an infrastructure service provider for all blockchains.

Increased investor interest in BNB has been a side effect of the exchange’s coin debut.

Buy BNB

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Litecoin (LTC) – First altcoins out after Bitcoin, Launched in 2011

To deliver safe, rapid, and low-cost transactions, Litecoin (LTC) was created to use the unique qualities of blockchain technology.

Bitcoin (BTC) protocol was employed in creating the cryptocurrency; however, the hashing algorithm, hard cap, block transaction timeframes, and a few other aspects have been modified. Microtransactions and point-of-sale payments are well-suited to Litecoin, thanks to its fast block time and cheap transaction costs.

It was published on October 7, 2011, through an open-source client on GitHub, and the Litecoin Network went online on October 13, 2011. Since then, its use and acceptance by merchants have grown exponentially, and it has consistently ranked in the top 16 cryptocurrencies regarding market valuation.

A former Google engineer named Charlie Lee designed Litecoin as a “lite version of Bitcoin” since it has many of the same attributes as Bitcoin but is less in weight. Litecoin is a decentralized digital currency.

Buy LTC

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Stellar (XLM) – Blockchain Network providing Enterprise Solutions to Financial Institutions

Stellar is a decentralized open network that facilitates the transfer and storage of digital currency. Initially, one of its aims was to assist the global unbanked to become more financially included. Still, as time went on, the focus turned to enabling financial institutions to communicate with one another via blockchain technology.

By using lumens as a bridge to transfer assets across borders, the network makes it more affordable to do so. This is meant to pressure current payment providers, who often demand exorbitant rates for the same service.

If this seems familiar, remember that Stellar was initially built on the Ripple Labs protocol. A hard fork resulted in the creation of the blockchain, and the code was then modified.

The cost of tuition puts many people off. However, transaction fees on the Bitcoin and Ethereum blockchains have been known to skyrocket due to congestion, and this isn’t limited to fiat-based payment systems like PayPal.

Every transaction on Stellar costs only 0.00001 XLM. Due to the low price of this cryptocurrency, consumers can retain a more significant portion of their money.

Few blockchain startups have been able to establish collaborations with significant technological and financial institutions. As part of a partnership with IBM a few years back, Stellar and IBM launched World Wire. This project enabled big financial institutions to submit transactions to the Stellar network and trade using bridge assets like stablecoins.

In contrast to other blockchains, Stellar enables its users to vote on which projects should get community cash.

Buy XLM

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What are Altcoins?

Aside from Bitcoin (BTC), any cryptocurrency is considered an altcoin or alternative coin. Many of these altcoins share certain features with the well-known Bitcoin; however, some have specific differences. To give you an idea, certain altcoins utilize a distinguishable mechanism of consensus to validate transactions or create blocks of chained data. Many altcoins use special contracts to provide unique capabilities, such as lowered price volatility, lotteries, etc.

Best Exchange to Buy Altcoins

When it comes to exchanges to trade altcoins, there are loads of exchanges one can use, each of which has its own unique features. Our top recommendation for a safe platform is eToro.

1. eToro

eToro, allows customers to purchase Bitcoin and more than 75 other cryptocurrencies through eWallets, PayPal, credit cards, bank transfers, and various other deposit options.

In numerous reviews across the globe, millions of investors and professionals have ranked it as the top crypto exchange for 2024.

eToro was formed in 2007 but recently opened its doors to US investors. Traders worldwide, including those in the UK, Australia, and Europe, were already using the site to trade crypto, stocks, and ETFs.

Creating an eToro.com account simply takes a few minutes of your time. eToro’s design is essential and user-friendly compared to many other famous crypto exchanges. Thanks to its many helpful features, it’s a good choice for novices and experienced traders.

Visit eToro

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How to Invest in Altcoins

Buy the Underlying Asset

Trading conventional money (US dollars) for crypto asset tokens like Bitcoin, XRP, or Litecoin is the only way to buy cryptocurrency and own the underlying asset.

In this case, an exchange buys the token on your behalf and registers it into a separate account under your name.

You stand to gain if the value of your crypto asset increases throughout your ownership. You’ll suffer a loss, though, if the price drops.

The key benefit of this strategy is that you control the crypto assets. Therefore, the tokens are entirely in your possession and control. Using the tokens is as simple as putting them in your wallet, exchanging them for other crypto assets, sending them to friends, or using them to make purchases.

A $1,000 Bitcoin purchase may be used to pay for items at stores that accept Bitcoin.

Your crypto assets may be transferred to an exchange Wallet to keep it secure.

Why Buy Altcoins?

If you’re going to invest in crypto and you have the time to do your homework, you should think about investing in altcoins. While Bitcoin is generally used as a store of wealth, certain altcoins have a more comprehensive range of applications than Bitcoin does. Regarding cryptocurrencies, altcoins might experience a higher price rise if they catch on.

Investing in cryptocurrencies comes with some drawbacks. Investing in cryptocurrencies might be difficult since there are so many options. Altcoins are more risky, and many lesser ones are questionable investments or frauds. We’ve listed some verified altcoin projects on our crypto presales page.

To sum it up, if you’re a cryptocurrency trader who prefers to do their own research, you should look at altcoins. Cryptocurrency stocks are a better option if you’re searching for a lower-risk or less time-consuming investment. It’s essential to remember that taking on too much risk isn’t encouraged. So, even if you decide to purchase alternative cryptocurrencies, they should only make up a tiny portion of your portfolio.

Risks of Buying Altcoins

Even though they might seem harmless, altcoins have a couple of downsides, especially regarding risk.

The investment market for altcoins is much smaller than that for Bitcoin, meaning they will be much less stable. A study in 2021 stated that Bitcoin takes up around 42% of the whole crypto trading market. It is because of the lack of regulation and precise investing requirements that the altcoin market has low liquidity. Consequently, compared to Bitcoin, the price of these cryptocurrencies is more volatile.

Altcoins and their use cases are not always simple to differentiate, making investment choices even more complicated. We’ve also seen loads of altcoins killed out due to them not holding their initial success. “Dead” cryptocurrencies have been known to sink investor funds, and the more altcoins come out, the more familiar it will be for these coins to die out.

How Much Should You Invest in Altcoins

If you want to invest in Altcoins, you must remember that it takes good knowledge to understand how the market works. It’s also essential to closely monitor your assets due to the high volatility. When it comes to how much to invest in these kinds of assets, it all depends on how much money you can dispose of. The best mentality to go at altcoins with is that where the money you invest is not necessary for you to live, and it’s good to place it into your portfolio with the thought that you’ll lose it all.

Not that likely; anyone could possibly lose everything in an altcoin portfolio; however, it would not be a wise choice to put “necessity money” in these cryptocurrencies, since they can be surprisingly volatile. If you have an investment savings portfolio, splitting it in half between Bitcoin and other altcoins would be wise since it is much more stable. It can give you a vague idea of any patterns other cryptocurrencies can take after.

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