How to Find the Best Cryptos to Buy

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15 Mar 2024

In this section, I will explain some of the factors that investors need to take into account when searching for good crypto to buy now for their portfolio.
These include:

Long-Term Potential
Crypto Presales
Utility
Market Capitalization
Competition
Trading Volume, Signals and Bots
Trends

Long-Term Potential

First, it is wise to consider what is the long-term potential of the crypto assets. For example, Bitcoin will likely remain a ‘store of value’ for most, while Ethereum operates as the de-facto smart contract blockchain for ERC-20 tokens and metaverse coins, making it incredibly useful.
The long-term potential of both Bitcoin and Ethereum looks strong. Analysts at British investment bank Standard Chartered told their clients earlier this year that BTC could reach $120,000 by the end of 2024. A healthy Bitcoin means the rest of the crypto industry is healthy as investment trickles down into riskier tokens.
Similarly, many other established crypto projects should have a bright future ahead of them. For instance, XRP has formed partnerships with over 200 banks.
There are dozens of examples of major brands investing in Web3 and blockchain technology and by the end of the decade, it is expected to become a much larger part of mainstream life. Indeed, ARK Invest CEO Cathie Wood has predicted that the total cryptocurrency market – currently worth just over $1 trillion – will be worth as much as $25 trillion by the end of the decade.

Crypto Presales

Cryptocurrency presales distribute a portion of a project’s tokens to early investors on a first-come, first-serve basis. By investing in a presale, investors can acquire coins before they are listed on cryptocurrency exchanges and before they are available to trade amongst the general public.

Wondering how much to invest in crypto assets? Many investors will have missed the opportunity to buy BTC at under $100 or Ethereum at below $1. Fortunately, there are plenty of other opportunities to target similar gains.
One of the best ways of achieving this goal is to search high and low for solid presale projects, which are often referred to as crypto ICOs (initial coin offerings). For example, in March 2024 Meme Kombat launched its token on Uniswap for a price of $0.2960, while during its presale investors could buy Meme Kombat tokens for $0.166 apiece. That alone represents 78% gain in just a few months. Few days post-launch, Meme Kombat traded at $0.9, returning 442% to early investors who bought the presale. Crypto presales tend to offer more room to grow as they sell tokens at lower than their true value to fund development.
However, investors must be diligent in their research to ensure they only purchase high-potential tokens that have a legitimate chance of being a worthy investment. Research should include investigating the following:

Read the whitepaper: A whitepaper is a document that outlines the whole project and should give readers a clear understanding of exactly what they are investing in. Poorly written or vague whitepapers should be considered a red flag.
Read the roadmap: A roadmap is the plan of how a project will develop over the coming months and years. It is easy to promise a $1 billion market cap, but the best projects also outline plans of action and the steps they will take to get to that point.
Check the smart contract: Unfortunately, the crypto world is rife with scammers and some projects are intended to steal funds from the get-go. There are resources to check smart contracts, while top projects will provide a full audit from a reputable third-party blockchain security firm.
Check the team: Again, due to the proliferation of scammers in the space, doxxed and public teams will relieve investors as they know exactly who is behind the project. An anonymous team is not necessarily a red flag if other parts of the project (whitepaper/roadmap/audit) are legitimate.
Check social media sentiment: Social media sentiment and hype are crucial to the success or failure of a project. Interesting projects will fail if they do not catch the attention of the wider marker. Similarly, be wary of projects that use bots/fake accounts to promote their tokens.

Utility

Cryptocurrency projects offering high utility are likely to be more sustainable in the long run, since investors can use the tokens within the ecosystem to generate real value.

When searching for one of the top 10 cryptos to invest in, it is wise to focus on projects that have a real-world use case. As we mentioned earlier, Ethereum is a high-quality utility project as it has hundreds of other protocols and thousands of altcoins built on top of its blockchain. This means that its ETH has huge levels of demand as people engage with those projects.
At the time of writing ETH has more than a 50% market share for DeFi chains, with a TVL (Total Value Locked – the value of other projects built on its blockchain) sitting at more than $25 billion, according to DeFiLlama.
Ethereum has more than 950 other protocols built on top of it, more than a third larger than the Binance Smart Chain (664), while the next largest chain by TVL, Tron, is almost 70% smaller with a TVL of around $8 billion.

Market Capitalization

Investors should have a firm grasp of how the market capitalization of a crypto asset works as it will enable the investor to assess what the potential upside looks like. For example, when the price of Bitcoin traded at $16,000 in late 2022 it had limited upside potential because of Bitcoin’s size in terms of market cap. When Bitcoin made new highs above $70,000 in early 2024, this was a move of over 350% in less than two years.
Smaller market caps projects, such as trending meme coins, have much larger room for growth as it doesn’t take so much investment to see their price increase. For example, in the past week alone five meme tokens listed on CoinMarketCap have seen a price increase of more than 100% beating what Bitcoin investors hope to achieve in the next 12 to 18 months – there will be dozens more if one navigates around the site.
Of course, small market cap tokens come with increased risk that have to be priced in when investing. While small cap tokens can see much higher growth in a shorter spell than the more established coins, they are also more likely to plummet in price.

Competition

It is also a good idea to see how much competition the respective crypto asset has. After all, there are now more than 25,000 tokens listed on CoinMarketCap – and even more that lie in waiting. For instance, there are many so-called ‘Ethereum Killers’, each of which claims to offer a faster, cheaper, and more scalable alternative to Ethereum.
Investors will need to decide on whether it is better to invest in Ethereum or a direct competitor such as layer-2 solution Polygon, which is capable of faster speeds and cheaper transactions than Ethereum, but has yet to gain the same footing with consumers.
The same is true of ‘DOGE Killers’, meme coins that promise to one day surpass the market cap of Dogecoin, the biggest and most popular meme coin. Crypto investors often cycle through tokens and trends, with copycat and derivative tokens quickly popping up if one token shows it resonates with investors.
Pepe is one such example – after the meme coin hit a $1 billion market cap in May 2023 it sparked a mini meme coin revival with dozens of copycats, such as Pepe 2.0, AstroPepeX, McPepe, PepeAI and dozens – if not hundreds – of others being created in its wake.

Trading Signals and Trading Bots

Some investors prefer to integrate the best crypto signals into their trading strategy. This allows them to eliminate emotions from the investing process when deciding the best crypto to invest in. We have also reviewed the best AI crypto trading bots for traders who want to execute trades 24/7.

Trends

As mentioned above, trends should not be discounted when deciding which crypto to buy today. Investing in a trending token or theme can prove to be both hugely beneficial if the timing is good – or disastrous should an investor take too long to realize that the trend is no longer popular.
During the 2021 bull run was play-to-earn gaming and the metaverse, which was expected to become a major industry in the 2020s and revolutionize the way people played games and interacted in a virtual world. Games like Axie Infinity, Sandbox and Decentraland benefited the most with their tokens trading at all-time highs.
In early 2024, meme coins and AI tokens have had the highest returns. For example, the meme coins Bonk and Dogwifhat traded mostly flat in 2023, while in February 2024, both had huge growth; Both had around $300 million market cap for months before taking off and trading at over $2 billion in market cap within less than two months.
AI tokens like Render (RNDR) traded at a market cap of $500 million before the AI frenzy propelled chip-maker stocks like Nvidia to all-time highs. Riding on the AI stock hype wave, RNDR currently has a market cap of over $4 billion. It took less than two months for RNDR token price to move from $2 to over $11.
Investing in a trending token can bring huge rewards but investors should be diligent to take profits and/or cash out when that trend starts to die unless they want to be left holding a worthless bag of nothing.

Conclusion – What’s the Best Cryptocurrency to Invest in Today?

These 19 cryptocurrencies stand out as the best crypto to buy right now. Each of them offers the potential for market-beating returns.
The large-cap tokens proved they could withstand the crypto winter and come out with momentum on the other side. The new tokens we covered address new markets and could explode upwards after launch.
Overall, we think Bitcoin is the best established crypto for investors, while Green Bitcoin takes first place as the best new crypto to buy now.

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Frequently Asked Questions (FAQs)

Which is the best crypto to buy?

The best cryptocurrency to buy right now is Bitcoin. Not only is it the world’s most valuable cryptocurrency, but it stands to benefit from the launch of ETFs in the US and a resurgence of interest in the crypto market. Investors who want the best high-risk, high-reward crypto may consider Green Bitcoin, which has raised to over $3.3M since launching its presale.

Which cryptocurrency has the best future?

Ethereum has the brightest future of any crypto right now. The largest smart contract network is attracting heavy development and successfully switched to proof-of-stake validation. There is even talk of a spot Ethereum ETF launching in the US.

What are the best new cryptocurrencies to invest in?

The best new cryptos to invest in today include Green Bitcoin, Smog, Sponge V2, and Bitcoin Minetrix. These new cryptos are more speculative than established, large-cap tokens, but they also offer potential returns of 100x or more.

Which crypto has the most potential in 2024?

Green Bitcoin is a new cryptocurrency with the most potential to explode in 2024. This greener alternative to Bitcoin allows the holders to stake their tokens to achieve passive income.

What is the best meme coin to buy now?

The best large-cap meme coin to buy now is Dogecoin, which has demonstrated it has staying power through all conditions. However, the best meme coin with the most potential right now is Smog.