Today, cryptocurrencies can serve not only as a payment tool but also as a great investment opportunity. They allow you to start earning with minimal initial capital. So, what do you need for success? The key is to correctly determine which cryptocurrencies to buy in 2024 to maximize profits. This can include well-known Bitcoin and Ethereum, as well as relatively newer options like Polygon and Solana.
Criteria for Choosing Which Cryptocurrencies to Buy for Long-Term Investments
When selecting which cryptocurrencies to invest in, it is essential to consider:
- Your individual goals;
- Investment timeline;
- Risk profile.
These considerations apply to any investments. Additionally, ensure that the project you choose is genuinely legitimate and safe.
Overall, investors should take the following into account when deciding which cryptocurrency to buy:
- Market Capitalization: The larger it is, the more stable and reliable the asset is. Such investments are less risky when it comes to long-term investing.
- Liquidity: The higher it is, the greater the chances that the cryptocurrency will remain in demand and increase in price.
- Technological Innovation: Projects offering unique technological solutions tend to grow faster.
- Developer Team: If the team behind the cryptocurrency is highly qualified and has experience with successful projects, there is a good chance that this project will also succeed.
To achieve higher returns and protect yourself from losses, it’s better to invest in several cryptocurrencies simultaneously.
Do not trust aggressive advertising that may suggest buying crypto immediately and making millions. There’s a high likelihood that this is a scam. It’s better to wait a bit, study offers on various exchanges. This will help you form your own opinion about each token, its liquidity, price dynamics, and prospects. We’ll share our ideas on which cryptocurrencies to buy for long-term investing in 2024.
Which Cryptocurrencies to Buy for Long-Term Investments in 2024
The popularity of digital currencies is growing, and their range of applications is expanding, making buying crypto in 2024 a great investment idea. The key is to choose wisely, which cryptocurrencies to buy. This will help create a maximally safe and profitable portfolio. We have compiled a list of the most promising assets that certainly deserve investors’ attention.
Bitcoin (BTC)
This is the “grandfather” of all cryptocurrencies in the world. It remains the most expensive and has prospects for further growth. Its price reached $73,780 in spring 2024. Now it has decreased to $66,000–68,000, but experts forecast further growth. According to some estimates, Bitcoin’s price may rise to $100,000 or more in the next 5-6 years, so buying crypto as a long-term investment is a good idea.
Ethereum (ETH)
As a blockchain platform, Ethereum is a favorite among developers. Its main application is smart contracts, which are automatically executed when conditions are met, along with non-fungible tokens (NFTs). Ethereum has seen significant growth from April 2016 to October 2024, rising from $11 to $2,601. The transition to the Proof-of-Stake protocol in Ethereum 2.0 has made it more attractive for staking. Thus, when it comes to which cryptocurrencies to buy, Ethereum is one of the best options.
Binance Coin (BNB)
Binance Coin is the native cryptocurrency of the popular Binance exchange. Launched in 2017 for use within the exchange, its value has grown over time. It can be used not only to buy crypto but also as a standalone payment unit. The price of Binance Coin has increased from $0.10 to $593 over the past 7 years. Experts predict further growth, so if you’re looking for which cryptocurrencies to buy for the future, consider Binance Coin.
Tron (TRX)
Tron is a blockchain designed for launching smart contracts and other DeFi applications. TRX is its native cryptocurrency. The platform is actively growing and expanding its ecosystem, so there is a good chance that TRX will continue to rise. Interestingly, after its creation in 2017, it was priced at $0.0019, and now it’s at $0.16, which is not its highest point. Thus, it makes sense to buy crypto as an investment.
Polygon (POL)
Polygon is one of the best ideas for which cryptocurrencies to buy for long-term holding. The cryptocurrency has experienced significant ups and downs. Currently, the Polygon ecosystem is continuing to expand, so the prospects for growth are quite substantial. While the current price of POL is one of the lowest in its history, experts predict significant growth in the near future.
Solana (SOL)
Solana (SOL) is an open-source blockchain that provides users with DeFi solutions. The price of Solana’s token has increased from $0.77 at the beginning of its existence in 2020 to $158.89 in 2024, and this is not its highest value. Although SOL is a rather volatile cryptocurrency, it is one of the best ideas for buying crypto.
Which Cryptocurrencies to Buy for Long-Term Investments – Video
To learn more about promising tokens and which cryptocurrencies to buy in 2024, watch the video:
Conclusions
If you’re choosing which cryptocurrencies to buy for long-term investments in 2024, be sure to consider our ideas. Although the world of cryptocurrencies is very volatile, a well-selected portfolio of assets will not only help preserve your funds but also allow you to profit from smart investments.
Frequently Asked Questions About What Cryptocurrencies to Buy
You can choose cryptocurrencies to buy or exchange them on cryptocurrency exchanges like Coinbase, Binance, or WhiteBIT.
This depends on which cryptocurrencies you decide to buy. There are small altcoins for a few cents, while Bitcoin costs tens of thousands of dollars.
Among those we’ve described, the cheapest are Tron and Polygon. Other inexpensive and promising cryptocurrencies include Dogecoin, XRP, and many others.
