Best Crypto Coins to Buy and Hold in 2024

Cryptocurrencies are digital or virtual currencies that use cryptography to secure and verify transactions. They operate on distributed ledger technology called blockchain to decentralize their control and operation.

Investing in crypto comes with high potential rewards but also significant risks due to the market’s volatility. Crypto prices fluctuate based on factors like supply and demand, technological innovation, regulations, and adoption.

This article presents some of the top crypto coins likely to provide good returns in 2024.

Bitcoin (BTC)

Bitcoin is the original and most popular cryptocurrency with the largest market capitalization. Launched in 2009, Bitcoin pioneered the peer-to-peer electronic cash system powered by blockchain technology. Bitcoin has limited total supply of 21 million coins, of which over 19 million are already in circulation.

Bitcoin is a good investment prospect for 2024 owing to its dominant position, upcoming halving event in 2024 which will reduce Bitcoin rewards for miners, increasing institutional involvement, and potential as an inflation hedge.

Bitcoin price grew over 300% in 2021 and is projected to reach $100,000 by end of 2024. However, risks include high volatility, environmental impact of mining, scalability issues, and uncertain regulations.

Ethereum (ETH)

Ethereum is the second-largest cryptocurrency and most utilized blockchain for decentralized applications like smart contracts, decentralized finance, and non-fungible tokens. Ethereum provides a flexible programming platform for creating innovative decentralized solutions.

Ethereum is likely to grow in 2024 due to ongoing innovations, network effects, transition to more scalable Ethereum 2.0, and the possibility of a spot ETF approval. The Ethereum price grew about 400% in 2021 and could triple in 2024. Challenges include high gas fees, competition from newer blockchains, security risks, and complexity.

Binance Coin (BNB)

Binance Coin is the native utility token of Binance, the biggest cryptocurrency exchange worldwide. Binance Coin offers discounts on trading fees, can be used to pay for services and travel, and grants holders governance rights on the exchange. Its price is supported by Binance’s growth, coin burning program, and demand.

Binance Coin already grew over 1,300% in 2021. Its practical uses, Binance’s dominance, and aggressive expansion make it one of the safer bets for 2024. However, regulatory action, competition, and over-reliance on Binance are key risks.

Solana (SOL)

?Solana is a highly scalable blockchain network built for fast and low-cost decentralized applications. It uses innovative solutions like proof-of-history and PoS consensus to achieve high throughput and low fees. Solana already supports over 400 projects across DeFi, NFTs, Web3, and more.

Solana’s technology, developer community, and partnerships with FTX exchange and other key players make it a promising investment for 2024. Solana price increased over 11,000% in 2021 with potential for more growth. Concerns include network stability, security tradeoffs, adoption beyond speculation, and rivals emerging.

Parting shot

Cryptocurrencies carry substantial risk but also sizable upside potential. When prudently invested based on thorough research and managed alongside a diversified portfolio, leading crypto coins like Bitcoin, Ethereum, Binance Coin, and Solana can be among the most lucrative assets to buy and hold in 2024. As with any investments, moderating expectations and avoiding irrational exuberance are wise.