In recent times we have seen crypto values dropping drastically, questioning the entire investment scenario into cryptocurrencies. But make no mistake as evident from the past, the crypto market always manages to bounce back with never seen higher values.
So this is the right time for investors seeking to get into crypto space and take advantage of these low prices to gain a huge profit in the future when the market improves.
Read on to find out the most popular Cryptocurrency in 2024 for you to consider for investment.
List of popular Types of CryptoCurrency
“All the market capitalization and price wtr dollar are from June 2024.“
1. Bitcoin – BTC
Bitcoin (BTC) is what everyone still refers to when referring to digital currency. It was first introduced in 2009, ever since then it’s been on a fantastic journey with lots of ups and recently a bit of downfall. It adopts the ‘proof of work’ concept on a blockchain network for security from hackers. Although the valuation of BTC has been oscillating quite a bit recently, it still remains at number one for market capitalization.
- Market Cap : $399.95 Billion
- Price : $21,097
2. Ethereum – ETH
Ethereum (ETH) is among the most popular Cryptocurrency based on the Ethereum blockchain network. ETH or Ethereum is a highly significant crypto asset among the developers and investors alike due to the open source Ethereum blockchain facilitating the creation of decentralized applications and enabling smart contracts. The value of ETH has grown considerably over the period with the expansion of dApps on Ethereum.
- Market Cap : $132.47 Billion
- Price : $1,105
3. Tether – USDT
On the list of popular Cryptocurrency we have our first ‘Stablecoin’ Tether (USDT) launched in 2014. Tether pioneered the stablecoin model offering the stability and simplicity of fiat currencies combined with blockchain technology. Well Stablecoins value is tied to a specific asset in this case its US Dollar, hence its price is set at $1 per coin. Unlike other cryptocurrencies, Tether’s value is more consistent than volatile which makes for a great investment option.
- Market Cap : $69.14 Billion
- Price : $1
4. USD Coin – USDC
US Dollar Coin (USDC) is another ‘Stablecoin’ in our list of popular cryptocurrency which is based out of Ethereum and can be used for transactions around the globe. Since its value is tied up with the US Dollar, the value is very stable unlike other fluctuating crypto’s. It makes for another great choice for investing in cryptocurrency without much worries of losing the value.
- Market Cap : $54.68 Billion
- Price : $1
5. Binance Coin – BNB
Binance Coin (BNB) is another popular cryptocurrency issued by one of the largest crypto exchanges ‘Binance’. It was created to pay fees on the BInance exchange for a discount, but soon it grew larger to facilitate other payments and purchasing various goods, services etc. BNB was launched in 2017 and has moved from just a trade coin in Binance to among the best value crypto.
- Market Cap : $35.61 Billion
- Price : $221
6. Cardano – ADA
Another popular cryptocurrency on the list is Cardano (ADA) which enables smart contracts and decentralized applications. It uses the early ‘proof-of-stake’ validation method that has reduced transaction times and energy usage significantly and removes environmental impact. It combines innovative technologies to enable unparalleled security and scalability to decentralized applications, systems and community.
- Market Cap : $16.51 Billion
- Price : $0.49
7. XRP – XRP
XRP (XRP) was launched by Ripple in 2012, a digital technology and payment processing empire. XRP excels in fast, efficient and practical cryptocurrency for cross border payments and transactions, along with offering a way to pay in different real world currencies. This open-source, permissionless and decentralized technology is carbon-neutral and provides faster transactions.
- Market Cap : $15.85 Billion
- Price : $0.33
8. Solana – SOL
Solana (SOL) is a relatively new Cryptocurrency compared to others in the list, launched in March 2020. Solana is a public blockchain which enables smart contracts, supports NFTs and decentralized applications or dApps. It adopted a hybrid validation system of ‘proof-of-stake’ and ‘proof-of-history’ methods to provide faster transaction speed and security. But its value has been drastically improved due to its robust ‘web-scale’ platform, transaction speed and low energy consumption.
- Market Cap : $10.68 Billion
- Price : $31.77
9. Dogecoin – DOGE
Dogecoin (DOGE) was originally created as a joke in 2013 as a spoof of cryptocurrency taking its name from famous internet meme Shiba Inu dog. But due to its enormous dedicated community, it flourished into a prominent cryptocurrency to be used for payments or sending money. Unlike other digital currencies, DOGE does not limit its issuance.
- Market Cap : $7.55 Billion
- Price : $0.05
10. Polkadot – DOT
Finally on the list of Cryptocurrency we have Polkadot (DOT), which was launched in May 2020. This blockchain aims to improve the flawless exchange of transactions between multiple blockchains hence enabling cross-chain interoperability. Due to this important feature it is highly likely to drive scalability of blockchain networks by considerable margin.
- Market Cap : $7.12 Billion
- Price : $7.35
Frequently Asked Questions
Q1. What are Cryptocurrencies ?
A Cryptocurrency is a digital currency that is secured by cryptography, in contrast to conventional (fiat) currencies where they are secured by a government or governments. Cryptocurrencies are being used for online payments, investments and transactions regularly across the globe.
Q2. How do you buy crypto ?
You can buy Crypto from various cryptocurrency exchanges like Coinbase easily. You just need to sign up and set up your wallet to start buying.
Q3. Is Crypto real money ?
Cryptocurrency is a digital asset which you can use as investment and for online payments. You can buy Cryptocurrency or digital tokens by real (fiat) currency or real money.
Q4. Which Crypto is best to invest ?
There are many cryptocurrency to consider for investment from the above list. We recommend Bitcoin due to its highest market cap and popularity in the market.
Conclusion –
The Cryptocurrency market is going through some tough times and it is highly volatile with constant crypto assets fluctuating in 2024 after seeing an all time high last year. Nonetheless, it is also paramount to understand it will bounce back to normal as more and more investors are joining to stabilize the market. Hence the ideal time to invest in the crypto market when the prices are low and make handsome profit when the market reaches new heights.
