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Out of more than 2,000 cryptocurrencies that are active on the current market, it can be challenging to pick a few to invest in. The year 2024 has come with many surprises in terms of digital currencies and the future is looking brighter than ever. Still, in order to take full advantage of it, your business moves and your portfolio of different cryptocurrencies have to be right. To help you best prepare for your business with virtual currencies in the new year, we decided to explore the current market for the most profitable cryptocurrencies that are going to explode in 2024. Carefully navigate the list and make sure to think about investing in more of these, if you do not already have such assets.
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1. Bitcoin
img source: cfr.org
There is no denying that the leading and the oldest digital currency will always be the best one to invest in and support. Since it is the model digital currency everyone knows and loves, it is normal for it to remain prominent and a favorite among experts, enthusiasts, and investors. What is more, during the dreadful 2024 it kept its value balanced and never experienced sudden spikes, neither positive nor negative. This paved way for what came towards the end of the year when it crushed the previous record in value. Fast forward to February 9 of 2024 and 1 BTC was worth more than $48,000, more than double of its previous record of around $20,000 from December of 2017 and a 15% increase from its over $30,000 value earlier this year. Elon Musk and his Tesla are responsible for the latest surge as they invested $1.5 billion in bitcoin, changing the game and taking it to new heights. This brought a new wave of investors and the race is on once again. This year will be one of the best for the leader of all cryptos and there is no saying what comes next. Make a good move and invest today.
2. Ripple
img source: currency.com
The XRP coin by Ripple is a great coin to support in February of 2024 and further. If the team manages to defend themselves from a lawsuit from the Securities and Exchange Regulator (SEC) in the USA, XRP will surge in value and the investors will keep coming for months on end. SEC has claimed that the team is making unlisted sales of its coin and that it falls under the category of security. Right now, the price of XRP is only around $0.60, but constantly rising despite the law issues still not over. Back in 2017 it was over $3. If the lawsuit goes their way they will probably experience enormous growth due to the influx of new investments. If you are feeling lucky, now would be a great time to invest in a new crypto you have never supported before as the return on such a daring investment could be huge. Follow the lead of many other investors if you cannot decide on your own and put down a small investment just in case it explodes.
3. Ethereum
img source: financemagnates.com
This crypto has been the Robin to bitcoin’s Batman for about ten years now. The second-most profitable and famous digital currency will remain a great chance for investment in profit in 2024 simply because it has risen and expanded every time bitcoin has. It is another amazing alternative to regular money and investors and experts in the field know it. The world would be a better place for business and financial freedom if it were bigger, so it is always good when more people invest in it. Considering that it is also a whole platform for decentralized apps, it offers more than bitcoin overall. The fact that new apps can be built upon such a software platform is revolutionary, as no third-parties like Apple and Google and their stores will be involved. What is more, like BTC, ether can be used to purchase numerous other cryptocurrencies on any exchange. It too has been experiencing all-time highs in value as it currently sits on more than $1,800 per ether. The future is great for this digital currency asset and you should definitely invest in it.
4. Litecoin
img source: bit2me.com
If you are looking for a safe investment in something that is a near-perfect yet less valuable clone of bitcoin, why not choose litecoin? A former Google employee by the name of Charlie Lee founded it on the basis of the most famous currency and gave it numerous similarities. As a younger brother, it follows the big bro in all it does. However, it has much lower transaction fees and better transaction times. The block generation in its blockchain is faster and more and more shops and merchants are accepting it as legitimate payment. Since it is so straightforward and without any other gimmicks, it makes for a perfect investment for those who already have assets in other digital currencies. It will definitely be used more in the future as it has slowly been growing ever since it stepped onto the field. You can either have it and spend it or keep it safe and watch it grow over time. It is your call but makes it sooner rather than later.
5. Binance Coin
img source: financial.com
Binance is actually the largest and among the best digital currency exchanges in the world. Based on volume alone, nobody comes close to it. Therefore, they made the obvious move and developed their own token that allowed them to enter the cryptocurrency market. The trading with their coin is seamless on their exchange. You can pay with it for services and goods and the transaction fees are more bearable with it. They went as far as to develop a Binance card that lets the users pay for stuff in the real world just like they do with their credit cards. The card can also hold bitcoin so investing in this crypto has a plethora of benefits. Not only will you get some real-world usage out of it, but you no longer have to go to other exchanges and your (probably) main balance in bitcoin has a new use. When usability is in question, this coin is among the best, especially since it complements the most dominant one on the market and lets eliminates the need for other services.
