Any cryptocurrency that isn’t Bitcoin is called an Altcoin (Alternative coin). These are Crypto coins like Ethereum, Litecoin, XRP, Solana, and more. Beyond the most well-known cryptocurrencies like Bitcoin and Ethereum, altcoins are becoming more popular as the market for cryptocurrencies grows. These alternative coins are likely to become very popular in 2024 thanks to their new features and useful applications. To help you make informed investment decisions, I’ve personally analyzed the latest market trends, gathered feedback from Web3 analysts, and consulted reliable cryptocurrency sources. With the support of our expert team on the decision of what to buy, I’ve identified the top 6 altcoins to invest in the next big cryptocurrency surge: Sweatcoin, PEPE, Ripple, BNB, Near, and Toncoin. Each of these altcoins is leading the market with its unique innovations.
Key Point
- Altcoins, or “alternative coins,” are cryptocurrencies other than Bitcoin, each offering unique features and use cases, like faster transactions or privacy-focused innovations.
- Altcoins matter because they address the limitations of Bitcoin, offering innovations such as Ethereum’s smart contracts or Ripple’s focus on cross-border payments for banks.
- Altcoins present opportunities for investors looking to enter the crypto space, especially those who missed Bitcoin’s early surge, but careful research is crucial as the space is rapidly evolving.
- I recommended you invest in altcoins like Binance Coin (BNB) for its ecosystem utility, Ripple (XRP) for cross-border payments, and Sweatcoin (SWEAT) for its “move-to-earn” health-focused model.
- Beginners should assess risk tolerance, diversify their portfolio across low, moderate, and high-risk altcoins, and employ strategies like dollar-cost averaging to reduce exposure to volatility.
What Are Altcoins
When you first hear about cryptocurrency, your mind probably goes straight to Bitcoin—and that’s fair. After all, it’s the first and most famous digital currency. But what about the hundreds of other cryptocurrencies out there? That’s where altcoins come in.
Altcoins are any cryptocurrency that isn’t Bitcoin. The term “altcoins,” short for “alternative coins,” refers to cryptocurrencies that serve as alternatives to Bitcoin. Think of them as Bitcoin’s younger siblings, each trying to carve out its own space in the crypto world by offering something unique or different. While Bitcoin is seen as “digital gold,” most altcoins are designed with other purposes in mind—some focusing on faster transactions, others on privacy, and many on powering decentralized applications (dApps).
Why Do Altcoins Matter?
Bitcoin may have started the blockchain revolution, but it doesn’t do everything perfectly. That’s where altcoins try to shine. Take Ethereum, for example. It introduced smart contracts, which allow developers to build decentralized apps (dApps) on its network. Or look at Cardano, which is focused on energy efficiency and scalability—two areas where Bitcoin falls short.
Each altcoin typically has a specific use case, whether that’s to improve privacy, reduce transaction fees, or boost the speed of payments. Some altcoins even aim to solve industry-specific problems, like Ripple (XRP), which is focused on transforming international payments for banks.
Should You Care About Altcoins?
If you’re new to the crypto space, Altcoins represent innovation beyond Bitcoin’s original vision. Many investors see them as an opportunity to invest in the future of finance, especially those who missed out on Bitcoin’s early days. But here’s the thing: while some altcoins have real staying power, others might not. It’s a rapidly evolving space, so do your homework before you decide to invest in altcoins.
Read Also: 5 Best Crypto Wallets for Airdrops: Secure Your Digital Assets in 2024
What are the top Altcoins to buy in 2024
To recommend these top altcoins for you to invest in for September 2024. I considered several key factors, including technological innovation, real-world use cases, strong ecosystems, community engagement, market potential, and long-term sustainability, when selecting these top altcoins in 2024. Here are the top altcoins I recommend you invest in.
#1. Binance Coin (BNB)
BNB is the native token of Binance, one of the largest cryptocurrency exchanges. It plays a crucial role in the Binance ecosystem, from reducing transaction fees to supporting its blockchain network, BNB Chain. Despite market fluctuations, BNB remains resilient thanks to Binance’s dominant market position.
Recommendation: BNB is a safer altcoin due to its utility within the Binance ecosystem and its continued relevance. With its integration into DeFi and Binance’s expansion into new markets, BNB is a good choice for investors looking for steady growth.
Risk Tolerance: BNB is one of the safer altcoins because it’s tied to Binance, the world’s largest cryptocurrency exchange. BNB is the native cryptocurrency of Binance, one of the world’s largest crypto exchanges.
Ease of Use and Accessibility: Since BNB is integrated into the Binance exchange, it’s very user-friendly and accessible for buying, trading, and staking directly on the platform.
Project Longevity: BNB has strong staying power due to Binance’s influence and continuous expansion into new markets like decentralized finance (DeFi) and NFTs.
Liquidity: Extremely high. Binance’s dominance ensures BNB’s liquidity, making it easy to trade without significant price fluctuations.
Adoption: BNB has a high level of adoption within the Binance ecosystem, including transaction fee reductions, DeFi projects, and blockchain integrations.
Partnerships: Binance consistently forms partnerships and expands its ecosystem, which strengthens the utility and relevance of BNB.
To invest in this altcoin, join me on Binance Wallet get yours.
#2. PEPE Coin (PEPE)
PEPE is a meme-based cryptocurrency that has gained significant attention for its community-driven success. It saw massive rallies in 2023 but has experienced volatility since. Analysts predict that PEPE could see another surge in the upcoming bull run if market conditions are favorable.
Recommendation: PEPE is highly speculative, and its value relies heavily on community interest and meme culture. While it has the potential for high returns during market rallies, it comes with high risk. It could be a fun addition to a diverse portfolio but should be approached with caution.
Risk Tolerance: PEPE is a high-risk altcoin due to its meme-based nature. Its value is driven by community hype and market sentiment, making it highly volatile.
Ease of Use and Accessibility: While popular, PEPE might not be as accessible as BNB on major platforms. It’s more common on decentralized exchanges (DEXs), requiring a bit more technical know-how to purchase.
Project Longevity: Uncertain. Meme coins typically experience short-term hype cycles, and unless PEPE gains additional utility, its longevity could be limited.
Liquidity: Moderate. PEPE had high liquidity during its peak, but it’s more dependent on market trends, meaning liquidity can fluctuate significantly.
Adoption: Adoption is mainly within meme-coin communities. It hasn’t seen broad real-world use cases, which limits its long-term adoption prospects.
Partnerships: PEPE doesn’t boast significant partnerships, as its value comes from the viral, community-driven aspect rather than institutional backing.
To invest in this altcoin, join me on Binance Wallet get yours.
#3. Ripple (XRP)
Ripple’s XRP remains one of the top altcoins, known for its focus on cross-border payments and strong partnerships with financial institutions. Ripple recently settled a major lawsuit with the SEC, providing regulatory clarity, which is a significant boost to investor confidence.
Recommendation: XRP is well-positioned to perform strongly in 2024, especially with its legal issues behind it and new developments like its stablecoin. If you’re looking for a relatively safe altcoin backed by real-world use cases in finance, Ripple is a solid choice for long-term investment.
Risk Tolerance: XRP is relatively low-risk, especially after resolving its legal battles with the SEC. This regulatory clarity gives investors more confidence in its future.
Ease of Use and Accessibility: XRP is widely available on most major exchanges, making it easy to buy and trade. It’s also known for fast, low-cost cross-border transactions.
Project Longevity: Very high. XRP’s core focus on cross-border payments and its strong partnerships with financial institutions ensure its long-term relevance.
Liquidity: Extremely high. XRP is one of the most liquid cryptocurrencies due to its market cap and widespread use by payment providers.
Adoption: XRP is highly adopted within the financial sector for international payments. Its partnership with banks and financial networks has strengthened its position.
Partnerships: Ripple has partnered with hundreds of financial institutions globally, which is a major reason why it’s considered one of the most reliable altcoins.
To invest in this altcoin, join me on Bybit and get yours.
#4. Sweatcoin (SWEAT)
Sweatcoin is part of a unique initiative to incentivize physical activity by rewarding users with the SWEAT token for walking or exercising. Built on the NEAR Protocol, the project is designed to promote health and fitness by allowing users to mint tokens through physical movement.
Recommendation: Given its innovative “move-to-earn” model, Sweatcoin is an interesting bet, especially as it aligns with health-conscious trends. If you’re looking for a project that encourages adoption in the wellness space, Sweatcoin could be a solid choice for 2024, particularly as it taps into a growing community with over 63 million users.
Risk Tolerance: Moderate risk. While its unique move-to-earn concept has gained traction, it’s still dependent on continued interest from its user base.
Ease of Use and Accessibility: SWEAT is easy to use, especially since it’s integrated into an app that rewards people for walking. The barrier to entry is low, making it accessible to a broader, health-conscious audience.
Project Longevity: The wellness and fitness space is growing, so SWEAT has potential for long-term sustainability if it continues to innovate and attract users.
Liquidity: Liquidity is moderate. While there’s a sizable user base, SWEAT’s liquidity is still growing as the token becomes more widely traded.
Adoption: Strong among fitness enthusiasts. Over 63 million users are already part of the Sweatcoin ecosystem, making it a well-adopted altcoin in its niche.
Partnerships: SWEAT has built partnerships with brands and health organizations to incentivize activity, helping it grow its user base and ecosystem.
To invest in this altcoin, join me and mine on the Sweat app and get yours.
#5. Near Protocol (NEAR)
NEAR is a layer-1 blockchain that focuses on developer-friendly tools and scalability through sharding. It has been growing in popularity, particularly with partnerships like its collaboration with Sweatcoin. NEAR is also eco-friendly, making it appealing to environmentally conscious investors.
Recommendation: NEAR has long-term potential due to its focus on scalability and ease of use for developers. With a strong ecosystem and partnerships, it’s a good investment if you believe in the future of dApps and Web3 technology.
Risk Tolerance: NEAR is relatively low-risk due to its strong focus on scalability, developer tools, and eco-friendliness. It has a clear use case and is building for the future of Web3.
Ease of Use and Accessibility: NEAR makes blockchain development easier with its user-friendly tools and focus on scalability. It’s also accessible on major exchanges.
Project Longevity: High. NEAR’s focus on building a scalable and sustainable blockchain for developers ensures it has the potential to last for the long haul, especially in the Web3 space.
Liquidity: High. NEAR is a well-known altcoin, and its liquidity is supported by its large ecosystem and exchange listings.
Adoption: NEAR has seen strong adoption among developers and dApp creators, particularly with projects like Sweatcoin utilizing its network.
Partnerships: NEAR has formed strong partnerships with projects like Sweatcoin and other dApps, which strengthens its ecosystem and credibility.
To invest in this altcoin, join me on Binance wallet get yours.
#6. Toncoin (TON)
Toncoin has rapidly gained traction thanks to its integration with Telegram. It’s a layer-1 blockchain that focuses on high-speed transactions and scalability, making it a strong competitor in the smart contract space. The token has performed well in 2023, and analysts expect it to continue its upward trend.
Recommendation: Toncoin is a high-potential altcoin for 2024, especially with its strong link to Telegram and the growing TON ecosystem. It could be a top performer in the next bull market, making it worth considering for those seeking higher returns in emerging blockchain networks.
Risk Tolerance: Medium risk. While Toncoin has shown promise, it’s still emerging in the market, so there’s some inherent volatility.
Ease of Use and Accessibility: Toncoin is gaining accessibility thanks to its integration with Telegram. As Telegram continues to grow, so does Toncoin’s ease of use, especially for the app’s users.
Project Longevity: Toncoin’s longevity looks promising, especially due to its strategic integration with Telegram, which gives it a solid user base.
Liquidity: High. Toncoin is becoming increasingly liquid as its user base grows, and more exchanges list it for trading.
Adoption: High potential for adoption, especially within Telegram’s user ecosystem. Its seamless integration within the app makes it easier for users to adopt and transact.
Partnerships: Telegram’s backing is a huge advantage for Toncoin. This partnership ensures continuous development and utility within the messaging app’s ecosystem.
To invest in this altcoin, join me on Binance wallet get yours.
Smart Advice for Beginners Looking to Invest in These Crypto altcoins
For newcomers to cryptocurrency investment, it’s crucial to approach the market carefully to avoid unnecessary losses. Here’s a step-by-step investment advice tailored for newbies:
#1. Understand Your Risk Tolerance
- High-Risk Investments: Coins like PEPE and Toncoin have higher volatility, meaning they can offer significant gains but also major losses. If you’re willing to take a risk for potentially high returns, consider allocating a small portion of your investment (no more than 5-10% of your total crypto portfolio) to speculative coins like these.
- Low to Medium-Risk Investments: Coins like BNB, XRP, and NEAR are considered more stable due to their strong use cases and adoption. These should make up the bulk of your investment (around 70-80%) for more reliable, long-term growth.
- Moderate-Risk Projects: Sweatcoin, with its unique “move-to-earn” concept, is an innovative but still developing project. Allocate a moderate amount (around 10-15%) to projects like this that have potential but are still in the growth phase.
#2. Diversify Your Portfolio
- Instead of putting all your funds into one coin, spread your investment across multiple altcoins. This reduces the risk if one coin performs poorly. For example, you could invest in a mix of stable altcoins (BNB, XRP) and a few high-potential projects (NEAR, Toncoin) for a balanced portfolio.
To help you manage your crypto investments easier and diversify your portfolio, I’ve put together a simple Diversification Strategy Template. It’s designed to help you balance risk and reward, keep track of your progress, and make smarter investment decisions. You can download the template below and use it to kickstart your 2024 altcoin investment strategy.
#3. Start Small and Increase Gradually
- Don’t invest more than you can afford to lose, especially in volatile markets like crypto. If you’re new to the market, start with a small amount to get comfortable with the fluctuations. Over time, as you learn more, you can gradually increase your investments.
- Consider setting aside 1-5% of your overall investment portfolio for cryptocurrency, especially when you’re just starting out.
#4. Dollar-Cost Averaging (DCA)
- Instead of investing a large amount all at once, consider a dollar-cost averaging (DCA) strategy. This involves investing small, consistent amounts over time (e.g., weekly or monthly). This helps you buy more coins when prices are low and fewer when prices are high, reducing the risk of investing all your funds at a peak.
#5. Research and Stay Updated
- Always do your own research before investing. Learn about the coins, their teams, technology, and market trends. Join crypto communities, follow reputable news sources, and keep up with any developments related to your chosen altcoins.
#6. Set Clear Investment Goals
- Are you in it for the short term or the long term? Coins like BNB and XRP are solid for long-term growth, while speculative ones like PEPE may be better suited for short-term gains. Determine your goals early on, whether it’s for daily trading or holding for a few years.
- If your goal is to grow wealth slowly over time, focus on long-term investments in projects with strong fundamentals (BNB, XRP, NEAR). If you want quicker gains but can tolerate more risk, then you might allocate a small percentage to speculative altcoins (PEPE, Toncoin).
#7. Take Profits and Reassess Regularly
- Set clear profit-taking strategies. For example, if an altcoin like PEPE skyrockets, take some profits and reassess. Don’t get greedy—it’s better to lock in gains than risk losing them in a market downturn.
- Regularly review your portfolio and adjust based on market conditions. If an altcoin no longer aligns with your goals or risk tolerance, it may be time to shift funds into more stable projects.
#8. Avoid Emotional Trading
- Crypto markets can be extremely volatile, causing sudden price swings. It’s important to avoid panic-selling when the market dips and also avoid buying into the hype during peaks. Stick to your plan and think long-term.
#9. Use Secure Wallets
- As a newbie, it’s essential to keep your crypto safe. After purchasing your coins, consider storing them in hardware wallets or secure software wallets to prevent hacks and theft from exchanges.
#10. Seek Professional Advice
- If you’re still unsure, consider consulting with a financial advisor who is knowledgeable about cryptocurrencies. They can help guide you based on your personal financial situation.
Sample Investment Allocation for a Beginner:
- Low-Risk Altcoins (BNB, XRP, NEAR): 70-80% of your crypto investment.
- Moderate-Risk Altcoins (Sweatcoin): 10-15% of your crypto investment.
- High-Risk Altcoins (PEPE, Toncoin): 5-10% of your crypto investment.
What Is the Fastest Growing Altcoin?
Solana (SOL) is a smart contract platform that offers high transaction speeds. It is arguably the fastest rising crypto coin, with early investors earning more than 20,000%.
Which Altcoin Will Skyrocket in 2025?
Crypto researchers are keeping a close eye on EarthMeta Token (EMT) as the next cryptocurrency primed to take off. With a focus on the fast increasing metaverse industry and the release of restricted digital real estate, EMT is poised for tremendous growth.
Which Altcoin Is Most Profitable in Future?
Bitcoin has always been the top pick for cryptocurrency investors looking to earn. It has also been the most profitable cryptocurrency, with a record high of $68,000 in November 2021 and again in March 2024.
Final Thoughts:
Start slow, stay informed, and diversify your portfolio to reduce risk. By setting clear goals and being disciplined, you can mitigate losses and make informed decisions on how much to invest in each altcoin.
Reference
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