- Analyzing the scope of different coins and ROI in the upcoming future.
- Understanding the past growth and predicting the best 10 coins for 2024
Many people see crypto as the best opportunity and platform to invest in and earn passive income. You can invest in crypto from anywhere within just a few clicks through trading apps 24/7 and earn high returns.
It is possible to earn much more than you have invested within a few days because the crypto market is quite volatile and prices could up and down a lot, unlike the stock market which is quite stable.
So here are the 10 crypto coins to look out for which could give you higher returns in 2024.
Cryptocurrency for Investment in 2024
- Bitcoin
Bitcoin is considered top on this list due to its limited supply and highest market cap value as currently 1 bitcoin costs around $29000. Bitcoin was first created by Satoshi Nakamoto whose identity is anonymous and there is only 21 Millon limited supply out of which around 19 Million are in supply. It is expected that by 2140 whole 21 million bitcoins would be mined and it wouldn’t be wrong to assume that its value would get appreciated year by year.
If we look back at 201 here just Bitcoin cost around $500 now it’s over $29000. So due to its scarcity and demand its value is likely to increase.
- Ethereum
The Ethereum blockchain network is based on Proof of Stake which is more environmentally friendly in comparison to Proof of Work in Bitcoin. Due to the acceptance of more environmentally friendly methods to mine crypto. Ethereum and its blockchain network are likely to get acceptance from users and would become a more popular method to mine crypto coins.
If its technology gets wider acceptance its value is likely to get increase and could change the entire monetary structure.
- Tether
Tether is a stablecoin, which means it is backed by fiat currencies like U.S. dollars and the Euro and theoretically maintains a value equal to one of those denominations, unlike other cryptocurrencies based on demand and supply. As a result, investors who are cautious of the severe volatility of other coins choose Tether because its value is theoretically expected to be more stable than that of other cryptocurrencies.
- Ripple
After clearance from U.S. federal court case, the value of the Ripple coin increased overnight and it is likely to believe that the value would increase more by 2024 and could become a worthy investment option for many crypto enthusiasts.
- Cardano
Cardano has adopted proof-of-stake validation early despite entering the crypto industry somewhat later. It is one of the most active and popular coins which is getting investors’ attention.
In comparison to other significant crypto coins, the growth of the Cardano ADA token has been somewhat muted. The cost of ADA was $0.02 in 2017. Its price was $0.38 as of May 3rd, 2023. This represents a rise of almost 1500% likely to keep increasing in the near future.
- Solana
Solana has fast transactions and low speed. So if crypto gets wider acceptance and regulatory policy from the government its usage would also increase due to its fast transactions speed.
- Terra
Terra took a storm in the crypto world in 2021 and its potential forecast is expected to increase month by month. It would give better ROI to investors and has the potential to give 100 percent ROI by the end of 2024.
- Avalanche
Avalanche is a scalable and secure blockchain that is renowned for its quick transaction times and inexpensive fees so it would ultimately get wider acceptance. In terms of development, it is also one of the most active cryptocurrencies. Avalanche is anticipated to be the top 5 coins in the upcoming wave of blockchain use.
- Polkadot
Currently, the Polkadot coin isn’t performing well but it is expected that after the bearish market, it is likely to see substantial price growth. So this is the coin you should look out for by the end of the year and expect to give at least 90 percent ROI by the end of 2024.
- Binance Coin
Binance Coin has grown since it was introduced in 2017, and it now does more than just enable transactions on Binance’s exchange platform. Now, it can be utilized for trading and processing payments. Additionally, it can be traded or converted into other cryptocurrencies like Ethereum or Bitcoin.
In 2017, BNB cost only $0.10. Its price increased to nearly $413 by the start of March 2022, a gain of roughly 410,000%. BNB didn’t tremble much even after such a severe market drop and is still trading around $320 as of May 3, 2023. So after a bearish market, it is expected that it might get a push in price and 2024 might be Binance’s year.
