Register with one of our recommended partners now

The Top 13 Best Altcoins to Buy in 2024

By Onose Enaholo - Updated 04 July 2024
Fact Checked

Figuring out the best altcoin to buy can be a difficult choice as literally every other crypto aside Bitcoin is an altcoin and has different characteristics, technologies, and potential.

The crypto industry is littered with stories of people who lost money because they bet on the wrong project. We don’t want this to be you so we put this guide together to walk you through the best altcoins to buy.

While there are far more than 15, our list comprises projects at the forefront of their sectors, that have an edge over others in their class. We explore what they are, what they do, and why they are good choices. Use this guide as a map to explore potentially successful projects.

The Best Altcoins To Buy In 2024

1. Solciety ($SLCTY) – Best Politically-inspired Memecoin

2. Poodlana (POODL) – Best Lifestyle-Inspired Solana Memecoin

3. BitBot ($BitBot) – Best New Crypto Trading Bot

4. Bitcoin Dogs ($0DOG) – Best Bitcoin BRC-20 Token

5. Memeinator (MMTR) – Best New Memecoin

6. Metacade (MCADE)  Best Web3 Gaming Community

7. Ethereum (ETH) – Best Smart Contract Blockchain

8. Arbitrum (ARB) – Best Layer 2 Network

9. Optimism (OP) – Fastest Layer 2 Network

10. Render (RNDR) – Best Decentralised Graphics Network

11. Polygon (MATIC) – Best Ethereum Sidechain

12. Chainlink (LINK) – Best Blockchain Oracle

13. Apecoin (APE) – Best Metaverse Coin

The Best Altcoins to Buy Compared

Cryptocurrency

Category

Exchanges Listed

Blockchain Network

Where to Buy

Solciety ($SLCTY)

Memecoin

None yet

Solana

Buy $SLCTY

Poodlana ($POODL)

Memecoin

None yet

Solana

Buy $POODL

BitBot (BITBOT)

Utility

None yet

Ethereum

Buy BITBOT

Bitcoin Dogs ($0DOG)

Gaming

None yet

Bitcoin

Buy $0DOG

Memeinator (MMTR)

Memecoin

Uniswap, MEXC

Ethereum

Buy MMTR

Metacade (MCADE)

Community

MEXC

Ethereum

Buy MCADE

Ethereum (ETH)

Layer 1

17+

Ethereum

Buy ETH

Arbitrum (ARB)

Layer 2

15+

Ethereum

Buy ARB

Optimism (OP)

Layer 2

13+

Ethereum

Buy OP

Render (RNDR)

Services

14+

Ethereum

Buy RNDR

Polygon (MATIC)

Layer 2

16+

Ethereum

Buy MATIC

Chainlink (LINK)

Oracle

11+

15+

Buy LINK

Apecoin (APE)

Metaverse

16+

Ethereum

Buy APE

The Top 13 Best Altcoins to Buy Reviewed

Solciety (SLCTY) – Best Politically-inspired Memecoin

Solciety is a memecoin project pushing beyond the norm to create a community for all degens. The coin leans into the PolitiFi narrative by presenting itself as an on-chain political party for all memecoin lovers focused on gains, not policies.

Why invest in Solciety?

Memecoins thrive on attention and are built around narratives—the more relevant the theme, the more attention the memecoin garners. Politics is a prominent narrative this year as US elections approach, and Solciety being the first memecoin heralding the political party meta, enjoys first mover advantage.

The project stands on the proven success of Political tokens like Donald Tremp and Joe Boden but differs from them in that it does not lean toward one party but creates a community for everyone.

Furthermore, the project is built on Solana and enjoys the network’s speed, scalability, and growing user base.

Risks in Investing in SLCTY

Like all memecoins, SLCTY risks performing admirably or failing spectacularly. Investors also risk a lack of longevity as most memecoins lose the greater part of their values after the hype around their narrative dies down.

SLCTY’s presale launched on 18 June, and will run for 30 days offering 3 billion tokens to early investors. Visit the Solciety website to participate in the presales.

Poodlana (POODL) – Lifestyle-Inspired Solana Memecoin

In a sea of flat dog-inspired memecoins with no edge, Poodlana stands out as the creme de la creme of lifestyle, fashion, and class by redefining what it means to be fabulous in the digital age.

Why invest in POODL?

According to a news report from Coindesk, 80% of memecoins’ price growth occurs during Asian trading hours, making the Asian market vital to their success.

POODL is inspired by the Poodle dog breed, the third most popular breed in the Asian region. Considering that most of the strongest memecoins on Solana are tied to real-world narratives, the project can create a strong narrative by keying into the region’s love for the Poodle breed.

Crypto ranking data shows that memecoins popular in Asia tend to perform well globally and reach million-dollar market capitalisations. Some examples are Peipei ($78 million market cap), Biaoqing ($12.97 million market cap), and KFC ($195 million market cap).

By differentiating itself as a high-class memecoin for the fashion elite based on a popular dog breed, POODL can lock into a popular narrative and achieve breakout growth.

Risks in investing in POODL

Most memecoins that try to start (or key into) a popular narrative eventually fail. POODL’s success relies largely on its positioning as a high-class memecoin that is a step above the rest and its fair launch. Like most memecoins, it has no utility and is a risky venture.

POODL has a total supply of 1 billion tokens, 50% of which will be offered for sale in the 30-day presale event starting on July 3rd. After the presale, the token will be listed on Raydium within 60 minutes of the presale close. All tokens will be unlocked and hit the market simultaneously, making the next 30 days the only time investors can get their hands on the token before launch.

To participate in the presale, visit the Poodlana website.

Bitbot (BITBOT) – Best Crypto Trading Bot

bitbot crypto trading bot website homepage

Bitbot is a crypto trading bot that allows you to trade cryptos on-chain using simple text instructions on Telegram. The bot is part of a rising trend of people using bots with instant execution speeds to keep up with institutional traders.

These bots are usually integrated with the Telegram messaging platform, allowing users to control their trading activities using simple commands. Because of their ease, efficiency, and speed, traders can use them to uncover and buy tokens before they launch on major exchanges.

Why invest in Bitbot?

Bitbot offers features that place it ahead of other trading bots. The most pertinent is its emphasis on decentralization. Most Telegram bots hold on to their users’ private keys, creating an attack vector.

We saw this happen with popular bots like Unibot which was hacked in October 2023. The attacker could drain funds from connected wallets because the platform stored its users’ private keys.

Bitbot uses a completely decentralized structure to ensure users are always in charge of their tokens.

Risks in investing in Bitbot

While the bot has utility, the success of its token depends on the company’s ability to attract and retain users, which is usually easier to accomplish during a bull market than a bearish one.

2024 is expected to be bullish thanks to Bitcoin’s halving, however, interest beyond the bull season is yet to be determined.

Bitbot has a total supply of 1 billion tokens, 30% of which will be sold in an upcoming presale event. This presale includes a competition that will reward participants with up to $100,000. To stay current on the presale, visit the Bitbot website.

Bitcoin Dogs ($0DOG) – Best Bitcoin BRC-20 Token

Bitcoin Dogs’ native token, $0DOG, will launch as the first-ever ICO on the Bitcoin blockchain. Thanks to cutting-edge Bitcoin Ordinal technology, Bitcoin Dogs is pushing the boundary of what is being built on the Bitcoin network.

By combining memecoins, NFTs, and Ordinals, this project aims to go where none has gone before along with all who dare to run ahead of the pack. Given the industry’s love for breaking new milestones, this project will attract the interest of people within and outside the Bitcoin community.

Why invest in Bitcoin Dogs?

Bitcoin Dogs keys into strong crypto narratives like BRC-20 and the Bitcoin halving that could place it in investors’ sights, and allow for innovation and significant upside; several BRC-20 projects that have launched have garnered traction from investors and Bitcoin enthusiasts.

Bitcoin Dogs has gone further than most other projects to build the first Bitcoin-native gaming ecosystem with tokens, a planned NFT collection, and even games further down the line.

Bitcoin on-chain metrics data from Dune Analytics show a significant increase in transaction count on the blockchain that started close to the end of January 2023, when Ordinals was launched.

Higher volumes combined with the Bitcoin halving in April 2024 could catalyze significant growth for the network and its most promising projects, like Bitcoin Dogs.

Risks in Investing in Bitcoin Dogs

Bitcoin Dogs is a new project attempting a feat that has never been done before. As such, there are bound to be obstacles that are novel to this project, and a history of token launches shows that plans are hardly ever without hiccups.

$0DOG will be the native token of the Bitcoin Dog ecosystem. It has a maximum supply of 900 million units, 90% of which is allocated to the presale. This means that investors will get the bulk of tokens, making this as close to a fair launch project as possible.

To join this project early, head over to the Bitcoin Dogs website.

Memeinator (MMTR) – Best New Memecoin

meminaator crypto coin

Memeinator is a memecoin with a twist. While other memecoins adopt an animal theme, either a dog or frog, Memeinator has chosen to adopt themes from the wildly popular Terminator series. It features terminator dogs that have traveled back in time to dominate the meme market.

Why invest in Memeinator?

In the memecoin space, virality is the difference between success and failure. Memeinator has employed innovative marketing strategies, an engaging story, and an upcoming suite of products to keep its growing community engaged.

Despite the uncertainty of the memecoin space, Memeinator has displayed the potential to create a community of loyal supporters by offering innovative rewards. One of which is a trip to space on the Virgin Galactic, worth a whopping $250,000.

In the future, the MMTR token will be the key to unlocking the ecosystem which will include exclusive NFTs and an action game.

Risks in investing in Memeinator

Big plans and hype are common tools that memecoins employ to get people onboard, and while Memeinator is making strides, it is still untested. Most memecoins fail, and there is a possibility that Memeinator will as well.

MMTR has a maximum supply of 1 billion tokens, 62.5% of which is on offer in the presale which is currently ongoing. This is suitable as most of the supply will be in the hands of the public, making it less prone to manipulation.

To join the presale, head over to the Memeinator site.

Metacade (MCADE) – Best Community Altcoin

Metacade is a blockchain-based platform for the Web3 gaming community. It serves as a hub for everyone involved in gaming crypto from players to builders, enthusiasts, and even critics.

Although still new, Metacade is already making strides towards integrating the top crypto games and creating a holistic experience for its community.

Why Invest in Metacade?

Metacade’s priority is to build a community that spans various games and Metaverses. What currently exists in the gaming space are scholarship programs for games like Axie Infinity and guilds like Merit Circle that do not have a thriving social aspect.

This is where Metacade shines as one of these promising altcoins. The platform’s integrations with several games allow it to connect players across them. It maintains leaderboards of the most played games and top players so community members know where the action is and who is making waves.

Players can also leave reviews on the games they play, highlighting their pros and cons, material that could prove valuable for game builders as they’d have access to first-hand testimonies from a community of active players.

Risks of Investing in Metacade

Metacade is an untested project with big dreams, however, they have a significant technological hurdle to overcome. The interoperability requirements needed to integrate with several games across chains is one that may not be readily available in the market.

The community platform is powered by the MCADE token which has a total supply of 2 billion tokens.

Buy MCADE 

Ethereum (ETH) – Best Smart Contract Blockchain

Ethereum is the leading altcoin with a market capitalization of $227 billion as of writing. The blockchain network is the pioneer of smart contract functionality, and its programming language, called Solidity, is the most used among blockchain developers.

Ethereum is also the largest smart contracts platform with $27 billion in non-native ETH assets, over 1,000 decentralized applications including games, DeFi apps, and Metaverses and the largest developer community in the space.

Why Invest in Ethereum?

Ethereum has proven that it is here to stay. The smart contracts blockchain is so widely accepted that its operating system, the Ethereum Virtual machine, forms the basis for several other chains, collectively called EVM chains.

While the network was once plagued by high fees and congestion, recent upgrades work to improve its speed and scalability. It is not out of the woods yet as more upgrades are in the works.

However, the high transaction fees that once precluded retail users from using the network have been greatly reduced. Now, the network’s throughput has been increased to a theoretical speed of 100,000 tps and should be able to accommodate some enterprise level applications.

As more updates are made and Ethereum’s speed improves, more mainstream participants will be able to build on the network and bring value to the ecosystem, which should be reflected in the price of the network’s native token, ETH.

Risks of Investing in Ethereum

There isn’t much of a downside to investing in Ethereum as it is sufficiently decentralized, secure, and currently moving towards scalability. The only real risk is that of regulation. While new crypto laws may not come for Ethereum directly, an attack on the entire industry will undoubtedly affect ETH.

ETH has an unlimited maximum supply, however, there is an emission schedule and a burn

mechanisms that work to maintain balance. If the amount of tokens burned exceeds the yearly emission, then ETH becomes deflationary and will increase in value over time.

As of writing, 120 million ETH are in circulation, ETH rewards are between 4% – 8% per year on at least 9 million ETH (at least $678 million), while roughly 3.5 ETH gets burned every minute (roughly $3 billion a year).

To learn more, read our Ethereum review. You can also buy ETH on exchanges like eToro.

Arbitrum (ARB) – Best Layer 2 Network

Secure scaling for ethereum

Arbitrum is a layer 2 network built on top of Ethereum. It is called a “layer 2” because it is a second computation layer that processes transactions on Ethereum.

Networks like Arbitrum became popular when Ethereum battled with scalability. They came in as a solution for developers who wanted to build applications that were fast enough and cheap enough for everyone to use.

Why Invest in Arbitrum?

Ethereum’s upgrade does not nullify the need for scaling solutions as the transaction load is still quite large for the upgraded network. And as blockchain use cases grow, networks like Arbitrum will become even more important.

Scaling solutions are projected to grow with Ethereum usage and Arbitrum already leads the pack with $2.34 billion in assets stored in the various smart contracts on its network. It provides infrastructure for at least 280 decentralized applications while helping Ethereum remain scalable.

Risks of Investing in Arbitrum

The Arbitrum network could capture value that may not be reflected in its token. Unlike networks like Polygon that require MATIC to pay for transaction fees, Arbitrum relies on ETH for transaction fees, leaving governance as the only major use case for the ARB token.

ARB has a total supply of 10 billion units, 1.2 billion of which are currently in circulation at a market cap of $1.5 billion.

To buy ARB, visit crypto exchanges like Binance.

Optimism (OP) – Fastest Layer 2 Network

Optimism is also a layer 2 network on the Ethereum chain that is made to improve scalability. It launched its mainnet in January 2021 and finally launched its token, OP, in May 2022.

Optimism and networks like Arbitrum essentially do the same thing but in very different ways. Optimism may be a smaller network in terms of total on-chain assets ($905 million), but what it lacks in size, it makes up for in speed.

Why Invest in Optimism?

There are enough transactions on Ethereum to go around. The main network will need several scaling solutions working to ensure high transaction speeds. Optimism is the third largest network by TVL and the fastest thanks to its optimistic roll-up technology.

Transactions on the network go through only one round of confirmations, as the network takes an optimistic approach to processing transactions and hence does not carry out as many rounds of validation as networks like Arbitrum, hence the term “optimistic” rollup.

However, its method of validation does not subtract from its security as fraudulent transactions can still be challenged and reversed even after being processed.

Risks of Investing in Optimism

Optimism is built on sound technology, so sound that other companies like Binance and Coinbase are leveraging its tech stack to build their own layer 2s. However, Optimism simply hasn’t gathered as much buzz as Arbitrum, Polygon, and even upcoming networks like zkSync.

Seeing as the major use case for OP is governance, some investors may not have strong enough reason to hold on to it.

The OP token has a total token supply of 4.2 billion units, 335 million of which are currently in circulation.

You can buy OP on exchanges like Coinbase.

Render (RNDR) – Best Decentralized Graphics Network

Render is a decentralized network that supports the sale of graphics processing power. Using proprietary technology called the Render Octane Cloud, the project creates a marketplace where people with powerful computers and graphics cards can sell their processing power to those who need it.

Why Invest in Render?

Render offers a service that is fast becoming essential, cheap graphics rendering. Creators, builders, architects, and even game developers can use Render to bring their concepts to life without the need to purchase or maintain expensive graphics equipment.

Considering that the world is moving slowly towards the Metaverse and AR/VR (the launch of the Apple Vision Pro will only accelerate this move), it is not far-fetched that rendering will become as commonplace as using text-based software like Google Sheets.

The Render network is powered by the RNDR token which serves as the primary form of payment. Creators pay for GPU power with the token which in-turn serves as compensation for service providers.

Render’s particular token mechanics is stable and sustainable, however, its value rests largely on sustained demand for rendering services.

Risks of Investing in Render

Render is up against established legacy companies like Nvidia leads the market in GPU technology and has enough influence to attract major users. RNDR’s value is directly tied to the platform’s utilization. If it fails to capture sufficient market share, the token price may not rise significantly in the long term.

RNDR’s token supply sits around 531 million, 366 million of which are in circulation at a market cap of $866 million.

You can buy RNDR on exchanges like Coinbase.

Polygon (MATIC) – Best Ethereum Sidechain

Polygon is a protocol that allows developers to easily build stand-alone blockchain networks while abstracting the underlying infrastructure. It also doubles as the name of an Ethereum network sidechain.

Retail crypto users are more familiar with the Polygon PoS sidechain that runs parallel to Ethereum and helps lessen the burden of processing transactions, so we’ll stick with that for this review.

Why Invest in Polygon?

As the fifth largest smart contracts platform with $986 million worth of foreign assets through the multiple DeFi apps that run on the network, it is one of the largest and most used Ethereum scaling solutions.

The network is usually a top choice for various real-world brands looking to debut in crypto and for existing crypto protocols looking to move to a faster network. Large protocols like Sandbox have already moved part of their operations to the Polygon network.

Furthermore, Polygon recently launched a zkEVM chain called Polygon zkEVM that will appeal to developers who value privacy alongside scalability. The MATIC token, the native token to the PoS chain, will double as the native currency for the zkEVM chain.

Risks of Investing in Polygon

Polygon was listed as a security in the SEC’s ongoing case against Binance.US and Coinbase. As such, it has been delisted from popular platforms like Robinhood and eToro for US customers.

If Polygon can prove that their native token is decentralized enough, then it may avoid this. However, the laws around how much decentralization is enough are still vague.

MATIC has a total supply of 10 billion tokens, 9.2 billion of which are currently in circulation at a market cap of $7.7 billion as of writing, indicating that the network is big enough to be a major player among networks of its class but small enough to still have room to grow.

Read our Polygon review to learn more about the network or buy MATIC on exchanges like eToro.

Chainlink is a blockchain service that retrieves data from sources outside of blockchain networks and delivers it on-chain in a decentralized and immutable way. The providers of this specific type of service are called Oracles, and Chainlink is the leading one.

Chainlink’s use case sprouts from the fact that blockchain networks are isolated systems that cannot interact with one another or the “real world” without some technological assistance.

Why Invest in Chainlink?

Chainlink is the leader in providing decentralized oracle network services as the most capitalized of the bunch and arguably the most accurate.

As blockchain adoption grows, DeFi activities like the tokenization of assets will become more mainstream and a decentralized oracle network will become more paramount in importing accurate asset information in real time.

Even now, Oracles are being used in Dexes, Perpetuals, and Synthetics platforms like Gains Network to keep track of the prices of cryptos, stocks, forex pairs, and indices.

Risks of Investing in Chainlink

The major risk in investing in Chainlink is that of competition. Other Oracles like API3, Band Protocol, Pyth Network, etc are gaining recognition and are more accessible to new and bootstrapped projects.

The Chainlink network features a native token, called LINK, as the primary form of value transfer. LINK has a total supply and market cap of 1 billion tokens, 517 million of which are currently in circulation.

To learn more, read our Chainlink review. You can buy LINK on an exchange like eToro.

Apecoin (APE) – Best Metaverse Coin

Apecoin is the official token for the Yugaverse, an ecosystem of premium NFT collections and a metaverse created and managed by Yuga Labs.

Yuga Labs is the studio behind popular NFT collections like the Bored Ape Yacht Club, Mutant Apes, and Bored Ape Kennel Club. The company also owns the rights to the Cryptopunks and Meebits collection after buying Laravel studios in 2021.

Why Invest in Apecoin?

The Yugaverse is shaping up to be an ecosystem that delivers tremendous value to its community members. Not only are its collections some of the most successful and highest traded in the NFT marketplaces space, its coming Metaverse, called Otherside, is one of the most anticipated Metaverse projects.

Otherside is a Metaverse developed by Yuga Labs that will feature the various NFT collections in the company’s lineup as playable characters. Although not yet launched as of writing, the project has already signed partnerships with real-world brands like Gucci to develop Web3 versions of real-life products.

Apecoin’s utility also extends to the DAO that governs the ecosystem and the coming Metaverse. APE holders will be able to vote on proposals for the future of the Yugaverse.

Risks of Investing in Apecoin

The Otherside metaverse will contribute the bulk of APE’s utility. While the project seems to be getting along well so far, any major deviations may cause investors to lose faith in the project’s viability.

APE has a total supply of 1 billion tokens, 368 million of which are currently in circulation.

You can buy APE on exchanges like eToro.

What is an Altcoin in Crypto?

An altcoin is any crypto that isn’t Bitcoin. The term was coined at a time where most other cryptos were imitations of Bitcoin that sought to stand in for its limitations, and while the categorization now includes cryptos that are nothing close to Bitcoin alternatives, the moniker remains.

These days, we have major altcoins, fondly called major alts, like Ethereum, which has a market cap exceeding $1 billion, and minor alts, like GMX, with a market cap under $1 billion.

What are the Different Types of Altcoins?

Altcoins can be categorized in various ways. One of these ways is by the nature of the projects they belong to. For example, Ethereum is a Layer 1 altcoin because its ecosystem is a layer 1 blockchain network.

Note that tokens of platforms like layer 1s and scaling solutions like Arbitrum and Optimism are often called Platform tokens.

In the same vein, Apecoin would be a Metaverse altcoin because it is the primary token within an ecosystem that features a metaverse. Because all cryptos aside Bitcoin are called alts, APE would simply be called a Metaverse crypto or token.

Dogecoin would be a meme coin, while tokens that relate to Decentralised finance applications are termed DeFi coins.

Altcoins can also be categorized based on their functions within their respective ecosystems. This categorization includes four types of tokens.

Security tokens: These tokens represent an investment or part ownership in a platform or company. They are comparable to stocks and are often regulated under the same laws as traditional securities in countries with legal crypto frameworks.

Utility tokens: These tokens carry out specific functions or purposes within an ecosystem. For example, Alt Signal’s ASI token is required to gain access to its trading tools, serving as a utility token in that regard.

Governance tokens: These tokens give their holders the right to vote on proposals and the future of their platforms. It is similar to stocks in the sense that common stocks give their holders the right to vote, however, governance tokens do not have investment incentives.

Transactional tokens: This categorization changes depending on who you ask in the crypto space, however, they are tokens that are used as units of account or to carry out transactions. A good example are stablecoins like USDT or DAI.

Why You Should Invest in Altcoins

Growth Potential

The most common reason people invest in altcoins is the growth potential. While Bitcoin has proven to be profitable long term, the ship for outsized gains has sailed for the premiere crypto. At this point, achieving a 10x return is a tall order for Bitcoin, but not for altcoins.

Smaller altcoins can easily return 5x – 10x their value within a relatively short period. For example, the meme coin Pepe, returned more than 10000x its value within 21 days of launch. However, note that this should not be considered a norm amongst crypto investments.

Diversification

Altcoins present an opportunity for investors to diversify their portfolios by investing in crypto assets other than Bitcoin. While a crash in Bitcoin’s price weighs on the entire market, altcoins tend to recover much faster than Bitcoin.

Besides, the larger the market cap of an altcoin, the smaller the effect of a downtrend on its price as investors are more willing to hold on to large market cap alts with fundamental value.

For example, a 2% drop in Bitcoin’s price could cause a 5% drop in Ethereum’s price, depending on market conditions.

However, the same drop could cause a 20% drop in PEPE’s price as it has a much smaller market cap.

How Do You Choose the Best Altcoins to Buy?

Focus on Utility

If investing for future profit is your goal, then this should be a priority. To gauge utility, you need to look past the token itself and focus on the platform or dApp. Dive into the white paper to understand what problems the platform solves and how it solves it.

Projects with strong use cases tend to last longer than those without. Also, ensure the project’s solutions are sustainable. For example, the DeFi platform, Ohm, ran an unsustainable model in 2021 that eventually crashed.

Determine Predominant Narrative

Narratives move markets, especially in crypto assets. Early in 2023, AI cryptos rallied because the success of ChatGPT spurred an AI narrative. If you can determine the predominant narrative and its effect on the market, you can get in early on the tokens that fall within its scope.

Note that narratives can be short and long-term. Some span for months (AI cryptos) while others span for years (scalability). Short-term investment made using long-term narratives may not always work as intended, so ensure you can gauge the strength and time frame of the narratives you choose to key into.

Gauge Developer Community/Adoption

The crypto industry has grown tremendously in the last few years, however, most crypto projects are still quite technical and not ready to be deployed on the scale of their web2 counterparts. This means that the developer community is still very dominant in crypto.

Hence, projects with active developer communities tend to perform better and last longer than projects without. Note that the presence of a thriving developer community depends on the nature of the project.

For example, a project like Audius, a decentralized music streaming platform, should have more artists than developers.

Institutional/Governmental Use

Institutional adoption is a sign that a project will more than likely be around for a long time and achieve growth. This is because institutions pay for services that aid their operations and will continue to do so, all things being equal.

For example, JP Morgan recently started testing an inbuilt blockchain system for the real-time settlement of interbank dollar transactions. If a public blockchain project were to offer this type of service to institutions, it will most likely be around for a long period as its solution is paramount to their operations.

How Do You Invest in Altcoins?

The emphasis here is on investing, not trading, so we stick to buying coins on exchanges.

You can go with decentralized exchanges like Uniswap or GMX that do not require KYC and are not usually geo-specific. Trading fees are usually cheaper on these decentralized finance exchanges than their centralized counterparts.

You’ll need a decentralized crypto wallet like MetaMask to connect to the Dexes and store your altcoins.

Alternatively, you can use centralized exchanges like eToro, especially if you are a beginner and not yet familiar with more technical blockchain concepts.

What About the Risks Involved With Buying Altcoins?

Substitution

The threat of substitution is the risk that a crypto project will be superseded by another that provides similar (or better) solutions. In this case, holders of the original project’s altcoin may see their investment lose value as users move over to the newer solution.

There is no shortage of substitutes where altcoins are involved. Multiple projects offer solutions to the same set of problems, oftentimes offering the same type of solution. You’ll need to check periodically to ensure the market has not moved from the project you’re invested in.

Regulations

Regulations can make or break even giant crypto-decentralized finance exchanges, especially in vital markets like the US, China, or Europe. Harsh regulations can stifle the growth of projects in certain regions or completely preclude them from reaching developers and token holders within those regions.

Keep an eye on crypto regulation in both your jurisdiction and the region where projects that have incorporated parent companies are situated. For example, while MetaMask is a decentralized wallet, its parent company, ConsenSys, is not. It can be subpoenaed in the US and (in extreme cases) forced to alter some features of its decentralized wallet.

There are a Few Critical Questions to Ask Yourself Before You Invest in Altcoins

Before buying altcoins, ensure you ask a few things.

Where am I on the market cycle? This question is paramount as even good altcoins lose value during bear markets. The best time to buy altcoins (crypto in general) is at the tail end of a bear market, which is usually a few months before the next Bitcoin halving.

Is this altcoin supported by a trend? While altcoins can increase in value even when not supported by trends, those that are go, up faster. Prevalent trends in the crypto markets are your friend.

How to Buy the Best Altcoins

This guide shows you how to buy the best altcoins on cryptocurrency exchanges like eToro.

1. Open an Account

Open an account by browsing to the eToro website and clicking on the Start Investing icon. Alternatively, you can download the mobile app from the Play Store/App Store and click on Sign up. Fill out the form with your full name, email address, and password.

2. Verify Your Account

Verify your account by setting up your profile and submitting KYC documents like a valid government ID and proof of residence document like a utility bill.

3. Make a Deposit

Once your account has been verified, deposit funds by using any of the available payment options. Choose a convenient method and set the amount you’d like to deposit.

4. Buy Crypto

Once your account is funded, search for any of the cryptos mentioned in the Discover tab. An interface like the one below should load. You can then set your parameters and buy.

Where to Buy New Coins

To buy new altcoins like Chancer that aren’t yet listed on exchanges, you’ll have to purchase them directly on their websites using a crypto wallet like MetaMask. This guide walks you through that process.

Step 1: Download a Wallet

Download the MetaMask wallet app either on your phone or as a browser extension and create a new wallet. Write down your seed phrase and keep it safe and offline.

Step 2: Buy Some Crypto

You’ll need some ETH, USDT, or BNB to buy new coins. In the case ofPiggy Bankster, you’ll need SOL. You can get some on an exchange like eToro and transfer to your wallet or use a fiat onramp like Banxa.

Step 3: Connect Wallet

Navigate to Chancer’s website and join the presale by connecting your wallet and buying CHANCER tokens using BNB.

Step 4: Wait To Claim

When the presale is over, you’ll be able to claim your tokens.

Latest Best Altcoin to Buy Project News

  • Jack Dorsey courts controversy by claiming ETH is a security amid ongoing cases between the SEC, Binance.US, and Coinbase.
  • Metacade’s CEO is focused on creating partnerships that improve community building as he rolls out a MetaStudio partnership.
  • AltSignals ASI cryptocurrency presale reaches $585K as investors show interest in the company’s coming platform.
  • Chancer platform seeks to disrupt the betting industry by providing a fully decentralised betting experience.

Final Thoughts on the Best Altcoin to Buy

We explored the best altcoins to buy and chose Solciety as the best choice because it taps into PolitiFi narratives that have the potential to trigger truly viral growth.

Whichever altcoin you choose, remember to focus on utility, be aware of prevalent narratives, and gauge developer/community activity. Also look out for the threat of substitution and regulations.

To invest in cryptos, start by signing up on our preferred exchange, eToro.

Methodology - How We Picked the Best Altcoins

The cryptos covered in this guide were chosen through rigorous research. We paid attention to utility, reputation, community, and growth potential.

The tokens listed are the best we found in the various categories we listed them. For example, we listed Chancer as the best betting protocol because it allows anyone to create predictive markets with custom rules and structures.

Check out our why trust us and how we test pages for more information on our testing process.

FAQs

What are Altcoins?
Altcoins are cryptos that are not Bitcoin. Technically, all other crypto that is not Bitcoin is an altcoin.
What are Altcoins Used for?
Altcoins have various functions based on their ecosystems and how users interact with them. Some are platform coins that are needed to use a particular platform, others are utility tokens that grant access to certain features within their ecosystems. Visit our Types of Altcoin section for more details.
How Many Altcoins are There?
Tens of thousands. There are a lot of altcoins, and more are constantly being launched.
What are the Best Altcoins to Invest in Now?
The best altcoins to invest in now are the ones on our list. The top three are Metacacde, Alt Signals, and Chancer.
What are Popular Altcoins?
Popular altcoins are cryptos that are well known either because of the size of their ecosystems (like Ethereum), their importance to the crypto space (like Chainlink), or their growth potential (like Metacade).