While Bitcoin pioneered the era of financial independence, giving us the foundation of a decentralized way to make money, it soon became the primary concern for environmental reasons. It consumes an estimated 150 terawatt hours of electricity annually, making many wary about investing in this cryptocurrency. Fortunately, more devs are now embracing eco friendly crypto coins.
This guide discusses the most eco friendly cryptos that are energy efficient, have a minimal carbon footprint, and even convert the biggest crypto skeptics.
Top Eco Friendly Crypto List 2024
Listed below are the most environment friendly crypto coins in the market. These crypto assets are energy efficient and also focus on being inclusive for increasing blockchain adoption.
- Green Bitcoin: Revolutionizing Sustainability in Cryptocurrency
- Dogecoin20: Eco-Friendly Version of Dogecoin with Staking Benefits
- Smog: Eco-Friendly Memecoin Built on the Solana Blockchain
- eTukTuk: Popular Eco-Friendly Crypto With an Innovative Concept
- Sponge V2: Eco-Friendly Memecoin on the Ethereum Blockchain
- Bitcoin Minetrix: Overall, the Most Eco-Friendly Crypto of 2024
- Solana: A High Performance and Low Impact Crypto
- Hedera Hashgraph: A Utility-Crypto with Carbon Negative Philosophy
- Algorand: A Crypto collaborating with ClimateTrade
- Polkadot: Cryptocurrency with the Lowest Carbon Footprint
- Tezos: Focusing on Energy Efficient Proof of Stake Blockchain
- Near Protocol: Awarded the Climate Neutral Product Label
- Cardano: A Crypto collaborating with a Reforestation Campaign
A Closer Look at Environmentally Friendly Crypto Projects
In this section, we look closely at the most sustainable cryptos of 2024. Most of them are available on eToro, one of the most reliable crypto trading platforms, and have listed many eco-friendly crypto assets.
Green Bitcoin: Revolutionizing Sustainability in Cryptocurrency
In the fast-paced world of cryptocurrencies, environmental sustainability has become a pivotal consideration, and Green Bitcoin (GBTC) emerges as a trailblazer in revolutionizing sustainability within the crypto space. GBTC’s commitment to an eco-friendly blockchain goes beyond mere rhetoric; it signifies a fundamental shift in the operational principles of cryptocurrencies.
At the core of GBTC’s eco-conscious approach is its utilization of a Proof-of-Stake (POS) consensus mechanism, setting it apart from the energy-intensive Proof-of-Work (POW) models employed by other prominent cryptocurrencies. Unlike Bitcoin, Bitcoin Cash, and Bitcoin SV, which demand substantial energy inputs for mining, GBTC’s POS mechanism operates with remarkable efficiency, requiring only 34 Wh of energy per transaction. This substantial reduction in energy consumption positions GBTC as a frontrunner among the most eco-friendly crypto coins available today.
GBTC’s commitment to sustainability extends beyond its consensus mechanism to an innovative gamified staking model designed to enhance user engagement. This gamified approach not only aligns with eco-friendly values but also encourages active participation within the GBTC community. Users can stake their GBTC tokens, predict Bitcoin trends, and earn rewards, creating a dynamic and incentive-driven ecosystem.
The eco-friendly numbers associated with GBTC further underscore its impact on sustainability within the crypto space. With a mere 34 Wh of energy consumption per transaction under its POS mechanism, GBTC significantly reduces its carbon footprint compared to traditional cryptocurrencies. The community response has been robust, with over 2.2 million GBTC tokens actively staked, constituting an impressive 67% of the total supply.
In terms of rewards, GBTC offers a compelling 257% per annum, leading to a total distribution of $1,013,782. These figures not only highlight the financial attractiveness of GBTC but also emphasize its commitment to rewarding community engagement. The numbers substantiate GBTC’s status not just as an eco-friendly cryptocurrency but also as a project that effectively combines sustainability with innovative features, setting a new standard within the crypto landscape.
Dogecoin20: Eco-Friendly Version of Dogecoin with Staking Benefits
With electricity consumption comparable to Gabon and a carbon footprint similar to Macau, it is no wonder many are considering alternatives to Dogecoin. Even though crypto rules the price charts, eco-centric investors are staying away from it. That is why Dogecoin20 is here with a better alternative.
Built on the Ethereum blockchain, Dogecoin20 is a proof-of-stake crypto asset that has leverages its staking fundamentals to:
- Make the Dogecoin ecosystem more attuned to the needs of the environment
- Introduced a long-term perk that gives investors access to passive gains
However, Dogecoin20 doesn’t portray itself as “better” than Dogecoin, as it owes its existence to the godfather of Dogecoin, bringing users the same tokenomics, as well as the same ethos to entice the userbase.
Dogecoin20’s eco-friendly nature aside, the reason it has been getting a lot of traction in the market is because of its willingness to provide something different while keeping the same roots. Like Dogecoin, it is a joke asset, trying to mimic the relevance of DOGE to gain traction on the market. However, staking perks allow investors to truly become part of the ecosystem and earn APY rewards for securing it over the long term.
These factors are bolstering more support for Dogecoin20, which has proceeded to make waves during its ongoing presale. With its multi-staged presale approach, investors can potentially make gains even before the token is listed. Those interested can visit dogecoin20.io.
Smog: Eco-Friendly Memecoin Built on the Solana Blockchain
Smog is a novel memecoin based on the Solana blockchain. It brings users a dragon-based aesthetic as well as a token with short and long-term fundamentals.
What makes this memecoin an eco-friendly project, however, is that it is built on Solana, a blockchain with lower gas fees and higher transaction fees as compared to Ethereum.
Smog is leveraging its status as a memecoin to generate buzz in the market and has been successful at it till now. Another reason this memecoin has been on a successful streak is because of its unique airdrop model.
Smog has implemented a unique system where airdrops will be rewarded to those Smog holders who complete quests and accumulate airdrop points. This game itself can be considered the reason for Smog’s eco-friendliness.
How? As more people come to play the game, more interest will be generated for the Solana blockchain. That may bring more people to adopt this eco-friendly ecosystem.
Another long-term appeal that Smog has integrated is the staking module. Furthermore, users can also use ETH to buy Smog now.
Those who want to buy Smog can visit smogtoken.com and buy the token via the site’s Jupiter DEX integration. Another way is to swap Smog for ETH via the platform’s OTC approach since it will provide investors with a 10% discount.
eTukTuk: Popular Eco-Friendly Crypto With an Innovative Concept
eTukTuk, built on the Binance blockchain, aims to democratize electric vehicle (EV) solutions globally, commencing its journey in Sri Lanka before expanding to multiple locations worldwide. Despite being launched just a few weeks ago, it’s already gaining recognition as one of the leading green cryptocurrencies in the market. This initiative seeks to catalyze the proliferation of EVs and associated technology by providing access to EV tuk-tuks and an extensive network of charging stations. By interconnecting these stations, eTukTuk aims to reduce the reliance on gas-emitting vehicles, thereby contributing to environmental preservation.
The project endeavors to promote both Electric Vehicle Supply Equipment (EVSE) and Zero Emissions Vehicles, aiming to establish them as the standard. To achieve this goal, eTukTuk plans to establish “territorial partnerships” with select regions. These partners will collaborate with eTukTuk to deploy and manage essential services for operating, maintaining, and deploying eTukTuks. Additionally, eTukTuk has unveiled plans for a play-to-earn (P2E) game, designed to gamify the project’s concept while enabling investors to earn more TUK tokens, the native currency of the project.
The TUK token serves as the backbone of the entire eTukTuk ecosystem and is also a stakable token with impressive annual percentage yields (APYs). Currently in its presale stage, priced at just $0.026 per token, it has already raised over $500k in a short period. With its promising potential and eco-friendly ethos, the token is poised to make a significant impact on the industry upon launch, as speculated by the community.
Sponge V2: Eco-Friendly Memecoin on the Ethereum Blockchain
Sponge V2 is an eco-friendly cryptocurrency on the Ethereum blockchain. Following the release of Sponge V1, one of the most successful memecoins of 2023, developers have come up with Sponge V2 to embark on a mission to bring back the gains to those who missed out during the memecoin mania.
Sponge V2 is necessary an upgraded version of Sponge V1, introducing players to a new staking mechanic, and a new P2E ecosystem. The staking mechanic comes into play when acquiring the Sponge V2 tokens. Holders must stake their Sponge V1 tokens to get an equal number of them. New buyers can buy and stake their tokens at the same time.
Sponge V2 incentivizes long-term holding through lucrative APY. The official whitepaper of the project states that those who hold their tokens will earn at least a 40% APY over the next four years.
Sponge V2 is also coming with a novel P2E ecosystem. While details surrounding it are yet to be revealed, it is known that Sponge V2 will be used as the mode of transaction within the game’s space.
These attributes give investors access to a P2E token with a staking mechanic. Furthermore, being available on the Ethereum blockchain, it has more upsides in terms of eco-friendliness.
Bitcoin Minetrix: Overall, the Most Eco-Friendly Crypto of 2024
Bitcoin Minetrix introduces a sustainable and innovative approach to Bitcoin mining by implementing a stake-to-mining mechanism. Through tokenization, the project provides a user-friendly platform that eliminates the need for costly hardware and substantial electricity expenses. This eco-friendly initiative empowers users to engage in Bitcoin mining without the burden of substantial initial investments.
The groundbreaking concept enables users to acquire cloud mining credits by purchasing and staking BTCMTX coins. This decentralized approach fosters a secure and transparent mining environment, safeguarding users’ interests. Notably, the tokens must be burned to exchange them for mining time or revenue sharing, as they are non-transferable.
During its presale phase, Bitcoin Minetrix demonstrated significant traction, raising over $100,000 within a day of its announcement. In fact, the project was able to gain major traction as one of the best cryptocurrency projects to be launched in 2023 among several crypto YouTubers and influencers too. With a soft cap target slightly over $15 million, the project is on course to become a prominent player in the realm of eco-friendly cryptocurrencies. The platform’s forward-thinking approach and commitment to sustainability position it as a noteworthy contender in the crypto space.
Solana: A High Performance and Low Impact Crypto
Solana is a 4th generation blockchain that came up to deal with the weaknesses of Ethereum. When Ethereum launched as the first altcoin, it had an exclusive air around it, but it also had many scalability issues – partly because of the proof of work mechanism. It increased the transaction fees proportional to the congestion of the network. Solana, however, owing to its architecture, can handle nearly 65,000 transactions per second, and that too at a low fee.
But the greatest achievement Solana obtained in the context of being environmentally friendly was in 2021, when Solana Foundation made the entire network carbon neutral. Solana’s main philosophy is to create a small, fast and efficient blockchain. To achieve this, It works on the Proof of History Consensus. Due to this, one Solana transaction takes up only 2707 Joules of energy – far lower than one Bitcoin transaction that consumes 7.4 billion joules.
The Solana Foundation focuses on minimizing Solana’s energy impact through constant innovations. In 2021, Solana became carbon neutral using Watershed Climate. Furthermore, the Solana foundation is also funding refrigerant destruction, which, according to Green America, is one of the best solutions to reverse climate change.
Due to these factors, Solana is one of the most energy-conscious cryptos on the planet. Its emergence has led to the rise of many energy-efficient Dapps and Solana NFTs that deliver the best of crypto in an environmentally conscious manner.
That said, things haven’t been on the up and up for this crypto in 2024. In addition to taking a massive blow due to the crypto winter, Solana has been a victim of several high-profile hacks. That said, the devs are constantly working to make Solana more secure and increase its uptime.
After opening 2022 at $173, the value of Solana has retraced as low as $8 due to FTX collapse and crypto winter.
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Hedera Hashgraph: A Utility-Crypto with Carbon Negative Philosophy
When we ask which crypto is eco friendly, our focus automatically veers towards crypto assets that use the Proof of Stake consensus protocol. Among them, too, however, there is one crypto that UCL has named the greenest among every PoS coin. It is the Hedera Hashgraph and only consumes 0.020-watt hour per transaction.
But this crypto is unique because it is not built atop of blockchain – but a distributed ledger known as the Hashgraph. It is a new technology designed to address the blockchain issues of transaction costs, speed, efficiency, and scalability.
The native crypto of the Hedera Hashgraph ecosystem, HBAR, forms a protective layer around the decentralized application on the network to secure them from malicious attacks. It also plays a critical role in services on the network, including NFT generation, smart contracts to build dApps, and a consensus service.
In addition to embracing low energy consumption, Hedera Hashgraph also decided to go carbon negative in 2021. To achieve this, the foundation overseeing this network chose to offset the network’s energy consumption by buying green e-climate certified credits.
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Algorand: A Crypto collaborating with ClimateTrade
Algorand is another crypto to have embraced an eco friendly approach in 2021. It partnered with ClimateTrade, an organization known for assisting other companies to go carbon neutral. So far, this institute has helped 300 companies embrace carbon neutrality – helping offset three million metric tonnes of carbon.
Algorand is the “blockchain of FutureFi” and is said to be the world’s most powerful and sustainable blockchain. The institute has successfully achieved decentralization. It is one of the most secure and scalable blockchains, achieving these qualities by being more sustainable.
To achieve carbon neutrality, Algorand uses a special sustainability oracle. It notarizes the carbon footprint at regular intervals and then keeps the protocol running in a carbon-negative manner.
According to the official website, Algorand was designed to be environmentally sustainable and focuses on ensuring that the crypto crowd enjoys the blockchain offerings without harming the environment. And once Elon musk declared that he would “most likely” accept Bitcoin again if it goes eco friendly, Algorand came forward to offer more sustainable solutions to modern payments on Twitter.
We are proud that @Algorand is carbon negative and offsets the very small environmental impact with wind, reforestation, and peatland sustainability projects around the globe. @Tesla could embrace sustainable, modern payment infrastructure w/ #stablecoins on Algorand. Let’s chat!
— Algorand Technologies (@Algorand) May 12, 2021
If you’re looking to buy Algorand, now may be the right for it because ever since entering the crypto winter, Algorand has been accumulating around $0.30.
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Polkadot: Cryptocurrency with the Lowest Carbon footprint
Polkadot, according to the Crypto Carbon Ratings Institute (CCRI), is the lowest carbon footprint crypto asset in the market, with far lower emissions than the likes of Avalanche, Algorand, Tezos, and Solana.
When pitted against other cryptos in terms of energy consumption, Polkadot only goes as far as taking 70,237 Kwh/year.
Polkadot pioneered the idea of interoperability between the blo
ckchains. That is, introducing a process of transferring a crypto asset from one blockchain to another and vice versa. Essentially, it aimed to establish an inclusive ecosystem that allows different chains to communicate. The platform also gives users staking opportunities to earn a passive income. Users can lock their crypto assets and earn interest. Delegator-level staking will reward with nearly 14% APY. But active users who want to run validator nodes can earn up to a 15% APY at the time of writing.
Due to this factor, Polkadot (DOT) quickly started gaining steam after entering the market. After trading sideways for a month, the DOT price saw a massive increase to beyond $45 before retrace. But it got back on the uptrend track and went to its all-time high of $53 during the crypto boom of November 2021.
And at the time of writing, Polkadot is trading at $7.36. It is a good opportunity to buy as there are many innovations.
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Tezos: Focusing on Energy Efficient Proof of Stake Blockchain
Launched in 2018, Tezos is one of the first Proof-of-stake blockchains to enter the ecosystem. It has always been environmentally friendly crypto from the get-go.
An interesting fact about this crypto is that it didn’t have to resort to any hard forks or upgrades to become more eco friendly. And over time, its energy efficiency has only increased. We researched and found that the energy efficiency of Tezos increased by 30% from 2020 to 2021.
Tezos is a versatile crypto, allowing users to participate in DeFi (Decentralized Finance) and Dapps (Decentralized applications). The ecosystem has also made room for NFTs – but in an eco friendly manner since their high energy consumption has always come under criticism by major publications and experts. Because of its environmentally conscious approach towards NFTs, Rarible recently partnered with Tezos.
That said, the crypto bear market has still affected Tezos significantly. At the time of writing, Tezos has been trading at an 82% lower value than its all-time high. That said, the 10th Tezos update is live, in addition to the NFT game called Chainborn, which will likely pump the price of this crypto in days to come.
NFT Battle Game Chainborn Is Live On Tezos Mainnet https://t.co/jNA7I7bA77 #Tezos #NFT #blockchaingames #BlockchainGaming #NFTBattle #Ottez #BitBirds #Vessel #BatBits @chainborngame
— XTZ News (@XTZNews) August 22, 2022
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Near Protocol: Awarded the Climate Neutral Product Label in 2021
Near Protocol has always been bullish about being climate conscious. In fact, it has recently been certified by South Pole, a digital climate solutions consultancy term. The firm has assessed the direct and indirect emissions of the project after the introduction of the Greenhouse Gas Protocol Standard.
The assessment covered everything from heating, cooling, electricity use, and purchasing electronic services and products that impact the environment.
However, it is not only the architecture and eco friendly business practices that landed Near Protocol on this list. It is the offset measures that it has taken. The foundation overseeing the protocol decided to plant trees to offset their carbon emissions. Going even further, Near has developed Mintbase.io, an NFT platform that uses part of the proceeds generated from the NFT trade for CO2 offsetting projects in other countries. If you’re interested, you can buy Near on Binance.
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Cardano: A Crypto collaborating with the reforestation campaign
Following the approach of the Near Protocol, another crypto to have pledged to plant more trees is Cardano. Cardano is another pure proof-of-stake crypto that is 37,500 times more efficient than Bitcoin.
Furthermore, Cardano (ADA) is one of the biggest crypto assets when it comes to market capitalization, with over $15 billion market cap at the time of writing. Many experts believe that Cardano was the pioneer to have made way for cryptocurrencies to become more eco friendly.
In September 2021, Cardano opened the first Global Cardano Impact Challenge and invited users to invest in ADA and donate it to Veritree. For every ADA donated, the Cardano foundation pledged to plant one tree.
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How To Tell Which Crypto is Eco Friendly
Here are the tips to know for choosing an environmentally friendly crypto:
Project’s CO2 Emissions
Ever since Bitcoin’s proof of work started to draw criticism, altcoins devs started revealing their carbon emissions on the white paper. Check them out and learn what these devs are doing to offset those emissions.
Proof of Work or Proof of Stake
Proof of Stake cryptocurrencies are far more energy efficient crypto assets. For instance, Ethereum’s existing Proof of Work continually consumes 5.13 Gigawatt, whereas a Proof of Stake system consumes 99.95% less power than that. Same with Tezos – it continually draws only 7 kilowatts.
Mining
Crypto mining has always been a concern of environmentalists. That said, it is how blockchain started, and some eco friendly crypto mining solutions have started to emerge. An example of this is Zenotta, a layer 1 solution to make bitcoin mining greener.
NFTs
There are many NFTs that are powered by eco friendly cryptos. And there are also other popular NFTs like Souls of Nature that are using the metaverse to bring awareness about environmental problems. The project aims to protect endangered species. It aims to offset the ecological impact of NFTs.
Green Blockchains
Blockchain systems, by their decentralized nature, can increase the deployment of renewable energy and can promote eco friendly supply chain practices. However, only a few are trying to bring real-world use cases through that technology, and Cardano and Near protocol are those few among the list trying to achieve it.
Here is a table highlighting the crypto emissions of various cryptos and general industries
Assets | Carbon Emissions |
Food Industry | 17.3 billion metric tonnes |
Bitcoin | 22.9 million metric tonnes |
Polygon | 90,654 |
Cardano | 491 tonnes |
Polkadot | 33.36 tonnes |
The Verdict
The rise of environmental concerns across the world has led to the emergence of many eco friendly cryptos. Other than the ones we have listed, PowerLedger (POWR), Avalanche (AVAX), and FLOW are some of the most ecologically friendly cryptocurrencies in the market.
We also reviewed one of the most environmentally friendly token presales to invest in right now, Green Bitcoin.
Green Bitcoin - Gamified Green Staking
- Contract Audited by Coinsult
- Early Access Presale Live Now - greenbitcoin.xyz
- Predict To Earn - Featured In Cointelegraph
- Staking Rewards & Token Bonuses
- $6+ Million Raised
FAQs on Environmentally Friendly Cryptos
What is the best environmentally friendly cryptocurrency to buy right now?
The best environmentally crypto to buy right now according to our review team is Green Bitcoin. It is a Bitcoin alternative built on the top of a greener blockchain.
What determines if a crypto is environmentally friendly or not?
Various parameters, such as blockchain nodes, electricity consumption, TPS, transactions per second, yearly carbon emissions, and other factors, decide whether the crypto is environmentally friendly.
Is Solana (SOL) environmentally friendly?
Yes. Solana decided to become carbon neutral in 2021 and started funding refrigerant destruction. Furthermore, as per a CCRI report, it has a very low electricity consumption per transaction.
What is an example of a crypto that is not eco friendly?
Any crypto that, at this moment, relies on Proof of Work cant be considered an eco friendly cryptocurrency. Proof of Work consensus consumes way too much electricity and has large CO2 emissions. For instance, Bitcoin emits 22.9 million metric tonnes of CO2 every year.
What is Elon Musk's stance on eco friendly cryptos?
Elon Musk has repeatedly voiced his concerns about the environment when it comes to cryptocurrencies. He has specifically been hard on Bitcoin's Proof of Work protocol because of its large carbon footprint. That being said, Elon Musk has also said that he will likely support Bitcoin if it becomes more eco friendly.