10 Best Alt Coins to Invest in 2024

What are Alt Coins?

Altcoin, short for alternative coin, is any cryptocurrency other than market leader Bitcoin. In other words, they are alternatives to Bitcoin.

Every altcoin has a different community and a unique backstory behind its creation. Some stories are valuable and contribute to significant price increases over time. While other altcoins may turn out to be useless or even scams. Many altcoin creators offer unique features to differentiate their tokens from Bitcoin and other cryptocurrencies. There is no guarantee of success but a good crypto trading signal provider will contribute to your financial security.

Like Bitcoin, altcoin functions using blockchain technology. Similarly, altcoins are risky investments like cryptocurrency. They are volatile investments and like cryptocurrencies can plunge to zero value in no time. There are multiple forex trading platforms in the market.

On the other hand, altcoins can be profitable. But it’s always wise to limit your exposure to risky investments like altcoins.

Pros and Cons of Investing in Alt Coins

Like every investment, altcoins also come equipped with their own set of benefits and disadvantages. Here, let us discuss the pros and cons of investing in altcoins.

Pros

Many choices available – There are many altcoins in circulation in the market. As a result, investors have multiple options to pick from based on return and competitive advantage. Investors always choose the best brokers for trading that better suits his/her trading goals.
Altcoins are better than Bitcoins – Altcoins are most commonly known as the better version of Bitcoins in the crypto market. Altcoins are more advanced than Bitcoins and they have better transaction speed.
Comparatively stable – Price fluctuations for Altcoins are generally low as compared to Bitcoin. Hence, they are considered a stable investment.

Cons

Lack of acceptability – Many people are still unaware of Altcoins while Bitcoin is the only popular cryptocurrency. The market for altcoins is still in its infancy, therefore people are still getting to know and accept it.
Risk of scam and failure – Since altcoins are trading at very low prices and they are fairly new with no history to back them. There is a high risk of scams and failure for investors.
Low Market Value – When compared with Bitcoin, the market value of Altcoins is very low. Therefore, investors are reluctant to invest in something with low market value. With that being said it can be a highly daunting task to find a forex signal provider you can rely upon.

The crypto market continues to gain momentum all the while exhibiting volatility. There are many altcoins in the market today. It gets confusing and overwhelming for investors when deciding which altcoins to invest in.

Top Alt Coins to Invest in 2024

Here are the top altcoins you can invest in 2024:

Shiba Inu (SHIB)

The Shiba Inu (SHIB) altcoin is a meme cryptocurrency. It is considered a direct competitor to the pioneer meme coin: Dogecoin. SHIB does not have a specific purpose but is built as a joke or meme cryptocurrency. The Shiba Inu altcoin is also popular as the DOGE killer. The massive growth of this altcoin has taken the crypto market by surprise.

The initial total supply of SHIB was 1 quadrillion tokens but the supply has reduced since then.

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Meme coins, like Shiba Inu, are driven by social media engagement and a loyal community. The Shiba Inu crypto has the most loyal community of followers. But these altcoins like Shiba Inu face problems of sustainable success. For long-term survival, every investment needs more than a loyal community, like technology and a solid basis for success.

To deal with these issues, ShibaSwap was created. ShibaSwap is a decentralized exchange that offers the ability to swap Ethereum tokens including SHIB. This exchange is yet to gain momentum and acceptability amongst investors.

Shiba Inu is a popular cryptocurrency. It was also one of the top ten lists of cryptos by market cap for a brief time and it is available for trading on most exchanges. SHIB is available for purchase at most exchanges which include Binance, FTX, and CoinEx amongst others.

The below chart shows the price performance of the alt coin for the previous-year. The coin peaked at a price of $ 0.00008 in August 2021.

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Cardano (ADA)

Cardano is a distributed computing platform for decentralized applications. It aims to provide seamless and secure wealth transfer, advanced smart contract functionality, and the capability of hosting and operating even highly complex dapps. The first native token of the Cardano blockchain is called ADA. Going forward, Cardano has the capability of hosting multiple tokens on their blockchain. Many traders make use of software applications to track the best cryptocurrencies in real-time.

Cardano cannot be mined but staked. It has a fully funded development team and does not rely on voluntary work. Cardano is the first of its kind that is entirely peer-reviewed and built with a scientific approach. The developer’s approach toward software is unique which benefits scalability. As a result, it increases efficiency, speed, and transaction throughput.

The maximum supply of ADA is 45,000,000,000 and the circulating supply at the time of writing is 34,277,702,082.

One of the best attributes of Cardano is its flexibility for future upgrades. In addition to it, the developers work unanimously with the regulatory bodies to develop their network compliant with regulatory requirements. Also, the pos-algorithm Ouroboros is the first pos-model to be peer-reviewed and accepted by the cryptography community at the International Cryptography Conference.

The Ouroboros protocol is a chain-based PoS protocol, where the producer of the next block is chosen randomly from a pool of stakeholders.

The below chart shows the price performance of the alt coin for the previous-year. The highest the coin has reached is $ 3 in this past one year.

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Crypto.com (CRO)

The Crypto.com Coin (CRO) is the native token of the Crypto.com exchange. The CRO token is used for paying transaction fees on the network, for governance purposes, and for staking.

What makes this altcoin an investor favorite is its partnerships with the Formula One team, Intel, and Cosmos network. The developers of this altcoin were smart enough to establish strong ties to increase the appeal of the coin. Additionally, the token is used for staking inside the network. Coin holders get access to many other features simply by holding the CRO token.

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Another benefit of this coin is that CRO tokens can be staked for an additional source of income. If a user takes a minimum of 5000 tokens, he/ she can enjoy low fees while trading on the native Crypto.com exchange.

The total supply of CRO is 30,000,000,000. And the supply in circulation is 25,300,000,000. The CRO token can be bought on many exchanges which include: Upbit, KuCoin, LBank, and Crypto.com, amongst others

The coin was stagnant for many years. It gained momentum in 2021. But in comparison to the market growth, CRO’s growth was low.

The below chart shows the price performance of the alt coin for the previous-year. The highest the alt coin has reached is $ 0.9 in November 2021.

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Fantom (FTM)

The Fantom network is completely decentralized and open source. The native token is known as FTM and exists on multiple blockchains. The Fantom network is highly scalable. It allows quick transactions at very low costs. What makes this altcoin and its network popular is the fact that it is built for the Internet of Things (IoT) universe. As a result, it offers high competition to other blockchain networks. Forex indicators are constructive in making disciplined and informed decisions.

The initial supply of FTM was set at 3.175 billion tokens. Today the supply is fixed at this number as new coins cannot be created. Out of this total supply, 2.1 billion tokens are in circulation. A dedicated official wallet is available for safely storing FTM tokens.

Being a fully decentralized network means that stakers hold the power to decide the future course of the FTM community. And the investors who hodl the FTM token can vote on governance proposals. The Fantom network is compatible with multiple blockchains and is fully synchronous with the Ethereum blockchain.

Even though Fantom claims to be a decentralized network, the majority of the supply is still owned by the parent company making. As a result, it is operational more like a centralized cryptocurrency network.

The FTM token is available on most exchanges which include Binance, Coinbase, eToro, and Crypto.com amongst others.

The below chart shows the price performance of the alt coin for the previous-year. The highest the alt coin has reached in the past year is $ 3.3 in January 2022.

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Tezos (XTZ)

The Tezos network is a full-fledged blockchain that runs using the Delegated Proof of Stake (DPoS) consensus model. The first generation of cryptocurrencies, Bitcoin and Ethereum, had multiple problems within the network. Tezos network was launched to solve all the shortcomings faced by the initial cryptocurrencies. The beauty of this network is that it is built in a self-amending contract which is run through a decentralized governance model. This allows the network to be upgraded without going through a hard fork. The best currency pair to trade is the one you are most familiar with.

The native cryptocurrency Tezos (XTZ) also known as Tez can be used as a medium of exchange or for governance purposes inside the network. The network has a very high threshold for becoming a validator at 8000 XTZ. This results in an efficient governance model.

The total supply of 923,118,390 XTZ. The current supply in circulation is 901,567,116.47 XTZ. The supply can be changed as Tezos is a constantly upgrading network. The XTZ altcoin can be bought on almost all popular exchanges such as Binance, Coinbase, Crypto.com, and Coinon amongst others.

The below chart shows the price performance of the alt coin for the previous-year. The highest the alt coin has reached in the past year is $ 8.7 in October 2021.

Polkadot (DOT)

Polkadot is an innovative platform whose mission is to create a decentralized web for people to learn, create, and share things with their data protected. The goal of the creators was to replace the internet which stores all of our information so that people can have reliable privacy.

Polkadot is a new type of blockchain that connects multiple blockchains into one large network. This amalgamation of multiple blockchains allows for faster transactions and increases the security of all exchanges that take place between different blockchains.

Polkadot is utilizing blockchains to transfer arbitrary data. It utilizes bridges so that the platform can connect and communicate with external networks such as Bitcoin. The structure of Polkadot is unique. It creates a secure way for any kind of data to be transferred via private and public networks.

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There are many benefits associated with this alt coin such as fast and free transactions, the possibility of making money with Dapps (decentralized applications), smart contracts, and low fees.

Polkadot has a maximum supply of 1,103,303,471. The current supply in circulation is 987,579,314.96 DOT.

Polkadot also has a team of experienced developers at its back, who are working relentlessly to make it a success. DOT is a fairly new coin. But it has managed to create a lot of hype and carries a lot of investment potential. DOT tokens are used in Ethereum protocols and can be traded for other cryptocurrencies. In the coming future, Polkadot will become more accessible to the general public. As a result, a huge return is expected on this altcoin.

The below chart shows the price performance of the alt coin for the previous-year. the highest the alt coin has reached is $ 53.44 in November 2021.

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Cosmos (ATOM)

The Cosmos (ATOM) token is the native token of the Cosmos blockchain. Cosmos claims to be the most customizable, scalable, powerful, and interoperable ecosystem of connected blockchains. Semiconductor stocks are also one of the best investment opportunities.

It is the world’s first interoperable blockchain network solutions system that seeks to make it possible for developers to interconnect with different blockchains. The Cosmos Network has the potential to become the “Internet of Blockchains”, and is also called the Cosmos Hub.

The Cosmos network is comprised of and connected through zones and Cosmos Hub (ATOM). The hubs will connect through what is known as the inter-blockchain communication (IBC) protocol.

One of the major benefits of such a network is that even if one chain experiences failure the whole network is not affected. And if one network undergoes difficulty in connection the network can still run. All inter-zone transfers will be processed through the Cosmos hub that acts as a data center and is also used for record-keeping.

The Cosmos network is highly scalable. This network perfectly suits the next generation of applications that demand more bandwidth and large blockchains.

The ATOM token is the native token of the network and can be staked to prevent spam and secure the network. The ATOM token can also be used to pay fees for using the network and is also used for governance purposes.

The ATOM altcoin is a popular cryptocurrency and is available on most exchanges. It is available on some leading exchanges which include Binance, Coinbase, eToro, and Crypto.Com amongst others.

The total circulating supply is 286,370,297.00 ATOM. It has no maximum supply.

The below chart shows the price performance of the alt coin for the previous-year. The highest the alt coin has reached is $ 44.54 in September 2021.

Solana (SOL)

Solana is a high-performance cryptocurrency blockchain that supports smart contracts and decentralized applications. The protocol is the fastest blockchain available and can manage 50,000 transactions per second (TPS). As a result, it can provide a highly scalable and decentralized system. There are multiple technical analysis courses available that teach technical analysis.

The SOL is the native currency of the Solana network. These altcoins can be used to facilitate micropayments within the blockchain. In addition to it, the Solana altcoin can be used to stake and make profits and earn rewards in the process.

Solano came into existence in late 2017. In such a short span of time, Solano has made itself into one of the best platform ecosystems that other developers can build applications on. As a result, there has been very high blockchain usage and development of Solana.

The Solana altcoin is also used to carry out payments within the blockchain and you can stake your Solana cryptos to gain rewards. Solana is gaining popularity because of its high transaction speed and the fact that it has got its best safety and security measures in place.

Solana is one of the most promising and rewarding cryptos and it is available on most exchanges which include Binance, Binance US, and FTX Exchange amongst others.

Solana has a maximum supply of 489,000,000. The total circulating supply is 343,277,351.06 SOL.

The below chart shows the price performance of the alt coin for the previous-year. The highest the alt coin has reached is $ 258 in November 2021.

Polygon (MATIC)

The Polygon token (MATIC) is a layer 2 scaling solution for Ethereum. Previously known as the Matic network the Polygon network serves as a multi-chain scaling solution for Ethereum and allows the building of multi chains on top of Ethereum. MATIC offers the openness of Ethereum together with the ability to deploy on more side chains.

Over time the Ethereum blockchain has become slow and congested due to the increased number of decentralized apps and tokens. As a result, developers face issues with cross-chain compatibility or interoperability between different blockchains. Polygon offers cross-chain support which has made Polygon the preferred solution for developers. Developers can utilize the Ethereum blockchain without compromising on multi-chain support.

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The MATIC token is the native token of the Polygon ecosystem and has become a very popular cryptocurrency.

The initial total supply of MATIC was 10,000,000,000 tokens and the circulating supply is 8,010,000,000.

MATIC is a very popular altcoin that can be bought on many exchanges which include Coinbase, Binance, Bitfinex, and Crypto.com amongst others.

The below chart shows the price performance of the alt coin for the previous-year. The highest the alt coin has reached is $ 2.87 in December 2021.

BitHotel (BTH)

BTH is the native token of Bit Hotel, an NFT-based social Play 2 Earn (P2E) metaverse game. The NFT GameFi project is backed by multiple well-known brands and advisors in the crypto and blockchain industry. Some big names include the Ferrum Network, Duthc Game Studio, Lithium, Seedify, Trustpad amongst others.

The basic idea behind Bit Hotel is to create and run an engaging online NFT-based social P2E game with an 8-bit nostalgic charm. All players get their own in-game identity and individuality (in the form of NFT characters). The players of the metaverse game can use BTH for purchasing in-game NFTs that contain individual components of the game which include characters, accessories, and hotel rooms amongst others. These altcoins can also be used for participating in Bit Hotel’s governance and earning staking rewards

BTH can be purchased from both centralized and decentralized crypto exchanges. But since the project is still evolving and growing and the game is yet to go live, there are limited options from where this altcoin can be purchased. It is available on three well-known exchange platforms: PancakeSwap, Bilaxy, and DODO.

The total maximum supply of BTH is 1 billion tokens. As reported by the developers, the total Circulating Supply is 35,137,829.63 BTH.

The below chart shows the price performance of the alt coin for the previous-year. The highest the alt coin has reached is $ 0.22 in December 2021.

CONCLUSION

Investing in altcoins seems attractive and very lucrative. But an investor always keeps in mind that these coins are volatile and they can also lose value and drop down in no time.

Also, be clear about your investment goals that whether you are seeking quick short-term gain or a long-term investment. This will help you seek those altcoins that match your goals.

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