Cryptocurrencies are digital assets that use cryptography to secure transactions and control the creation of new units. They are decentralized, meaning they are not controlled by any central authority or intermediary. Cryptocurrencies have gained popularity in recent years due to their potential to revolutionize the way we exchange value, store wealth, and access financial services.
However, not all cryptocurrencies are created equal. Some have more advantages than others, such as faster transactions, lower fees, higher security, or greater scalability.
Some also have more potential for growth, innovation, and adoption in the future. Therefore, it is important to do your research before investing in any cryptocurrency.
In this article, we will present the top 10 cryptocurrencies to buy in 2024, based on their current performance, future prospects, and market sentiment.
We will also provide a table that summarizes the main attributes, pros, and cons of each cryptocurrency. This will help you make an informed decision and choose the best cryptocurrency for your needs and goals.
1. Bitcoin (BTC)
- (Market cap: $816.4 billion)
Bitcoin is the first and most popular cryptocurrency in the world. It was launched in 2009 by an anonymous person known as Satoshi Nakamoto.
Bitcoin is based on a peer-to-peer network that allows anyone to send and receive payments without intermediaries.
Bitcoin uses a proof-of-work (PoW) system to secure its network and validate transactions. Bitcoin has a limited supply of 21 million coins, which makes it scarce and valuable.
Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Dec. 12, 2023, a single Bitcoin’s price was around $41,722. That’s a growth of 8,244%.
Related: What is Bitcoin and How do You Buy and sell Bitcoin
Attributes, Pros and cons of Bitcoin
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $1.2 trillion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 10 minutes (average block time) | Slow compared to other cryptocurrencies |
| Transaction fee | $20 (average fee in April 2023) | High compared to other cryptocurrencies |
| Security | High (uses PoW and SHA-256 hash function) | Vulnerable to 51% attacks and quantum computing |
| Scalability | Low (can process 7 transactions per second) | Limited by block size and network congestion |
| Innovation | High (has many forks, upgrades, and sidechains) | Conservative and resistant to change |
| Adoption | High (accepted by many merchants, platforms, and institutions) | Faces regulatory uncertainty and legal challenges |
Bitcoin is the most dominant and influential cryptocurrency in the market. It has the highest market capitalization, liquidity, and network effect. It is also the most widely accepted and adopted cryptocurrency, with millions of users and supporters around the world. Bitcoin is considered a store of value, a hedge against inflation, and a digital gold.
However, Bitcoin also has some drawbacks and challenges. It is slow, expensive, and inefficient compared to other cryptocurrencies. It consumes a lot of energy and resources to maintain its network. It also faces competition from newer and more advanced cryptocurrencies that offer better solutions and features.
2. Ethereum (ETH)
- (Market cap: $266.5 billion)
Ethereum is the second-largest and most popular cryptocurrency in the world. It was launched in 2015 by Vitalik Buterin and other co-founders. Ethereum is more than just a cryptocurrency.
It is a platform that enables developers to create and run decentralized applications (DApps) and smart contracts. Ethereum uses a proof-of-stake (PoS) system to secure its network and validate transactions. Ethereum has a variable supply of coins, which depends on the network activity and inflation rate.
Ethereum has also experienced tremendous growth. From April 2016 to the end of December 2023, its price went from about $11 to around $2,217, increasing 20,054%.
Related: What is Ethereum: How To Buy and Sell Ethereum
Attributes, Pros and cons of Ethereum
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $400 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 15 seconds (average block time) | Slow compared to other cryptocurrencies |
| Transaction fee | $10 (average fee in April 2023) | High compared to other cryptocurrencies |
| Security | High (uses PoS and Ethash hash function) | Vulnerable to 51% attacks and quantum computing |
| Scalability | Medium (can process 15 transactions per second) | Limited by network congestion and gas limit |
| Innovation | High (has many upgrades, forks, and layer-2 solutions) | Complex and risky to implement changes |
| Adoption | High (supports thousands of DApps and smart contracts) | Faces regulatory uncertainty and legal challenges |
Ethereum is the most innovative and versatile cryptocurrency in the market. It has the largest and most active developer community, with thousands of DApps and smart contracts built on its platform.
Ethereum is considered a world computer, a programmable money, and a decentralized web.
Ethereum enables users to create and access various decentralized services, such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, social media, and more.
However, Ethereum also has some drawbacks and challenges. It is slow, expensive, and inefficient compared to other cryptocurrencies. It consumes a lot of energy and resources to maintain its network. It also faces competition from newer and more advanced cryptocurrencies.
3. Binance Coin (BNB)
- (Market cap: $38.5 billion)
Binance Coin is the third-largest and most popular cryptocurrency in the world. It was launched in 2017 by Binance, the world’s largest cryptocurrency exchange by trading volume.
Binance Coin is the native token of the Binance ecosystem, which includes the Binance exchange, the Binance Smart Chain, the Binance DEX, and other products and services.
Binance Coin uses a proof-of-authority (PoA) system to secure its network and validate transactions. Binance Coin has a limited supply of 170.5 million coins, which is reduced by periodic coin burns.
BNB’s price in 2017 was just $0.10. By late December 2023, its price had risen to around $254, a gain of 253,440%.
Related: What is Binance and how do you trade Binance coin.
Attributes, Pros and cons of Bitcoin Binance coin
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $80 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 3 seconds (average block time) | Fast compared to other cryptocurrencies |
| Transaction fee | $0.1 (average fee in April 2023) | Low compared to other cryptocurrencies |
| Security | Medium (uses PoA and ECDSA signature algorithm) | Centralized and dependent on Binance validators |
| Scalability | High (can process 300 transactions per second) | Limited by network capacity and demand |
| Innovation | High (has many products, services, and partnerships) | Copied and adapted from other cryptocurrencies |
| Adoption | High (used by millions of users and traders on Binance) | Faces regulatory uncertainty and legal challenges |
Binance Coin is the most powerful and influential cryptocurrency in the market. It has the highest trading volume, liquidity, and utility. It is also the most widely used and adopted cryptocurrency, with millions of users and traders on Binance and other platforms.
Binance Coin is considered a utility token, a governance token, and a payment token. Binance Coin enables users to access various benefits and services, such as lower fees, voting rights, staking rewards, and more.
However, Binance Coin also has some drawbacks and challenges. It is centralized and dependent on Binance and its validators. It has less security and transparency than other cryptocurrencies.
It also faces competition from newer and more advanced cryptocurrencies that offer better solutions and features.
Binance Coin may lose its relevance and market share if it fails to comply with regulations and maintain its dominance.
4. Cardano (ADA)
- (Market cap: $21.1 billion)
Cardano is the fourth-largest and most popular cryptocurrency in the world. It was launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum.
Cardano is a platform that aims to create a more scalable, secure, and sustainable cryptocurrency that can support various applications and use cases.
Cardano uses a proof-of-stake (PoS) system to secure its network and validate transactions. Cardano has a limited supply of 45 billion coins, which are distributed according to a predefined schedule.
Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Dec. 12, 2023, its price was at $0.60. This is an increase of 2,886%.
Attributes, Pros and cons of Cardano
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $60 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 20 seconds (average block time) | Slow compared to other cryptocurrencies |
| Transaction fee | $0.2 (average fee in April 2023) | Low compared to other cryptocurrencies |
| Security | High (uses PoS and Ouroboros consensus protocol) | Vulnerable to 51% attacks and quantum computing |
| Scalability | High (can process 250 transactions per second) | Limited by network capacity and demand |
| Innovation | High (has a scientific and peer-reviewed approach) | Slow and delayed in development and implementation |
| Adoption | Medium (supports a few DApps and smart contracts) | Faces regulatory uncertainty and legal challenges |
Cardano is the most scientific and rigorous cryptocurrency in the market. It has a research-driven and peer-reviewed approach, with a team of experts and academics behind its development.
Cardano is considered a third-generation cryptocurrency, that aims to solve the problems of scalability, security, and sustainability that plague the first and second generations.
Cardano enables users to create and access various decentralized services, such as identity management, governance, education, and more.
However, Cardano also has some drawbacks and challenges. It is slow and delayed in development and implementation, compared to other cryptocurrencies.
It has less functionality and utility than other cryptocurrencies. It also faces competition from newer and more advanced cryptocurrencies that offer better solutions.
5. Polkadot (DOT)
- (Market cap: $90.7 billion)
Polkadot is the fifth-largest and most popular cryptocurrency in the world. It was launched in 2020 by Gavin Wood, another co-founder of Ethereum.
Polkadot is a platform that aims to connect and secure different blockchains, creating a network of interoperable and scalable chains.
Polkadot uses a proof-of-stake (PoS) system to secure its network and validate transactions. Polkadot has a variable supply of coins, which depends on the network activity and inflation rate.
Attributes, Pros and cons of Polkadot
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $40 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 6 seconds (average block time) | Fast compared to other cryptocurrencies |
| Transaction fee | $0.01 (average fee in April 2023) | Low compared to other cryptocurrencies |
| Security | High (uses PoS and GRANDPA consensus protocol) | Vulnerable to 51% attacks and quantum computing |
| Scalability | High (can process up to 1,000 transactions per second) | Limited by network capacity and demand |
| Innovation | High (has a modular and flexible design) | Complex and experimental in development and implementation |
| Adoption | Medium (supports hundreds of parachains and bridges) | Faces regulatory uncertainty and legal challenges |
Polkadot is the most ambitious and visionary cryptocurrency in the market. It has a modular and flexible design, with four main components: the relay chain, the parachains, the bridges, and the governance.
Polkadot is considered a multi-chain network, that aims to enable cross-chain communication, collaboration, and innovation. Polkadot enables users to create and access various decentralized services, such as DeFi, NFTs, gaming, social media, and more.
However, Polkadot also has some drawbacks and challenges. It is complex and experimental in development and implementation, compared to other cryptocurrencies.
It has less functionality and utility than other cryptocurrencies. It also faces competition from newer and more advanced cryptocurrencies that offer better solutions and features. Polkadot may lose its relevance and market share if it fails to deliver and innovate.
6. XRP (XRP)
- (Market cap: $33.6 billion)
XRP is the sixth-largest and most popular cryptocurrency in the world. It was launched in 2012 by Ripple Labs, a company that provides global payment solutions. XRP is the native token of the XRP Ledger, a distributed ledger that enables fast and cheap cross-border transactions.
XRP uses a consensus system to secure its network and validate transactions. XRP has a fixed supply of 100 billion coins, of which 55 billion are held in escrow by Ripple Labs.
At the beginning of 2017, the price of XRP was $0.006. As of Dec. 12, 2023, its price reached $0.62, equal to a rise of 10,277%.
Attributes, Pros and cons of XRP
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $35 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 4 seconds (average transaction time) | Fast compared to other cryptocurrencies |
| Transaction fee | $0.00001 (average fee in April 2023) | Low compared to other cryptocurrencies |
| Security | Medium (uses a consensus system and ECDSA signature algorithm) | Centralized and dependent on Ripple validators |
| Scalability | High (can process 1,500 transactions per second) | Limited by network capacity and demand |
| Innovation | Medium (has a few upgrades and partnerships) | Copied and adapted from other cryptocurrencies |
| Adoption | High (used by hundreds of banks and financial institutions) | Faces regulatory uncertainty and legal challenges |
XRP is the most practical and efficient cryptocurrency in the market. It has the fastest and cheapest transactions, making it ideal for cross-border payments and remittances.
XRP is considered a bridge currency, that can facilitate the exchange of any other currency or asset.
XRP enables users to access various financial services, such as international payments, liquidity, and lending.
However, XRP also has some drawbacks and challenges. It is centralized and dependent on Ripple and its validators. It has less security and transparency than other cryptocurrencies.
It also faces competition from newer and more advanced cryptocurrencies that offer better solutions and features. XRP may lose its relevance and market share if it fails to comply with regulations and maintain its partnerships.
7. Solana (SOL)
- (Market cap: $30.0 billion)
Solana is the seventh-largest and most popular cryptocurrency in the world. It was launched in 2020 by Anatoly Yakovenko and other former Qualcomm engineers.
Solana is a platform that aims to create a high-performance and scalable cryptocurrency that can support various applications and use cases. Solana uses a proof-of-history (PoH) system to secure its network and validate transactions.
Solana has a variable supply of coins, which depends on the network activity and inflation rate.
When it launched in 2020, SOL’s price started at $0.77. By late December 2023, its price was around $70.28, a gain of 9,027%.
Attributes, Pros and cons of Solana
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $30 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 0.4 seconds (average block time) | Fast compared to other cryptocurrencies |
| Transaction fee | $0.0005 (average fee in April 2023) | Low compared to other cryptocurrencies |
| Security | High (uses PoH and Tower consensus protocol) | Vulnerable to 51% attacks and quantum computing |
| Scalability | High (can process 50,000 transactions per second) | Limited by network capacity and demand |
| Innovation | High (has a unique and innovative design) | New and untested in development and implementation |
| Adoption | Medium (supports dozens of DApps and smart contracts) | Faces regulatory uncertainty and legal challenges |
Solana is the most fast and scalable cryptocurrency in the market. It has a unique and innovative design, with eight core innovations: PoH, Tower, Turbine, Gulf Stream, Sealevel, Pipelining, Cloudbreak, and Archivers.
Solana is considered a web-scale blockchain, that can achieve the same throughput and speed as the internet. Solana enables users to create and access various decentralized services, such as DeFi, NFTs, gaming, social media, and more.
However, Solana also has some drawbacks and challenges. It is new and untested in development and implementation, compared to other cryptocurrencies. It has less functionality and utility than other cryptocurrencies.
It also faces competition from newer and more advanced cryptocurrencies that offer better solutions and features. Solana may lose its relevance and market share if it fails to deliver and innovate.
8. Dogecoin (DOGE)
- (Market cap: $13.7 billion)
Dogecoin is the eighth-largest and most popular cryptocurrency in the world. It was launched in 2013 as a joke by Billy Markus and Jackson Palmer, based on the popular meme of a Shiba Inu dog.
Dogecoin is a fork of Litecoin, which is a fork of Bitcoin. Dogecoin uses a proof-of-work (PoW) system to secure its network and validate transactions. Dogecoin has an unlimited supply of coins, which makes it inflationary and less valuable.
Dogecoin’s price in 2017 was $0.0002. By December 2023, its price was at $0.10, up 48,010%.
Attributes, Pros and cons of Dogecoin
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $25 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 1 minute (average block time) | Slow compared to other cryptocurrencies |
| Transaction fee | $0.5 (average fee in April 2023) | High compared to other cryptocurrencies |
| Security | Medium (uses PoW and Scrypt hash function) | Vulnerable to 51% attacks and quantum computing |
| Scalability | Low (can process 40 transactions per second) | Limited by block size and network congestion |
| Innovation | Low (has no major upgrades or partnerships) | Copied and adapted from other cryptocurrencies |
| Adoption | High (has a large and loyal fan base) | Faces regulatory uncertainty and legal challenges |
Dogecoin is the most fun and friendly cryptocurrency in the market. It has a large and loyal fan base, with celebrities like Elon Musk and Mark Cuban endorsing and supporting it.
Dogecoin is considered a meme coin, a social currency, and a tipping currency. Dogecoin enables users to express their support, appreciation, and humor to others online.
However, Dogecoin also has some drawbacks and challenges. It is slow, expensive, and inefficient compared to other cryptocurrencies. It consumes a lot of energy and resources to maintain its network. It also faces competition from newer and more advanced cryptocurrencies that offer better solutions and features.
9. Uniswap (UNI)
- (Market cap: $24.2 billion)
Uniswap is the ninth-largest and most popular cryptocurrency in the world. It was launched in 2018 by Hayden Adams, a former engineer at Siemens.
Uniswap is a decentralized exchange (DEX) that runs on the Ethereum blockchain. Uniswap allows users to swap any ERC-20 token without intermediaries, fees, or restrictions.
Uniswap uses a proof-of-stake (PoS) system to secure its network and validate transactions. Uniswap has a fixed supply of 1 billion coins, which are distributed according to a predefined schedule.
Attributes, Pros and cons of Uniswap
| Attribute | Pwros/Advantages | Cons/Disadvantages |
| Market capitalization | $20 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 15 seconds (average block time) | Slow compared to other cryptocurrencies |
| Transaction fee | $10 (average fee in April 2023) | High compared to other cryptocurrencies |
| Security | High (uses PoS and Ethash hash function) | Vulnerable to 51% attacks and quantum computing |
| Scalability | Medium (can process 15 transactions per second) | Limited by network congestion and gas limit |
| Innovation | High (has a novel and elegant design) | Copied and adapted from other cryptocurrencies |
| Adoption | High (supports thousands of liquidity pools and trading pairs) | Faces regulatory uncertainty and legal challenges |
Uniswap is the most popular and user-friendly DEX in the market. It has a novel and elegant design, based on an automated market maker (AMM) model that uses liquidity pools and smart contracts to facilitate trades.
Uniswap is considered a pioneer and leader in the DeFi space, that aims to democratize and decentralize finance. Uniswap enables users to access various financial services, such as swapping, pooling, lending, and farming.
However, Uniswap also has some drawbacks and challenges. It is slow, expensive, and inefficient compared to other cryptocurrencies. It consumes a lot of gas and resources to run its network.
10. Chainlink (LINK)
- (Market cap: $14.4 billion)
Chainlink is the tenth-largest and most popular cryptocurrency in the world. It was launched in 2017 by Sergey Nazarov and Steve Ellis, two former Google engineers.
Chainlink is a platform that aims to connect smart contracts with real-world data, events, and systems. Chainlink uses a network of decentralized oracles to provide reliable and secure data feeds to smart contracts.
Chainlink uses a proof-of-stake (PoS) system to secure its network and validate transactions. Chainlink has a fixed supply of 1 billion coins, which are distributed according to a predefined schedule.
Attributes, Pros and cons of Chainlink
| Attribute | Pros/Advantages | Cons/Disadvantages |
| Market capitalization | $15 billion (as of April 2023) | High volatility and price fluctuations |
| Transaction speed | 15 seconds (average block time) | Slow compared to other cryptocurrencies |
| Transaction fee | $5 (average fee in April 2023) | High compared to other cryptocurrencies |
| Security | High (uses PoS and Threshold Signature Scheme) | Vulnerable to 51% attacks and quantum computing |
| Scalability | High (can process hundreds of transactions per second) | Limited by network capacity and demand |
| Innovation | High (has a unique and valuable use case) | Complex and challenging in development and implementation |
| Adoption | High (supports thousands of smart contracts and data providers) | Faces regulatory uncertainty and legal challenges |
Chainlink is the most useful and valuable cryptocurrency in the market. It has a unique and valuable use case, that solves the oracle problem of smart contracts.
Chainlink is considered a key enabler and integrator of the blockchain ecosystem, that bridges the gap between the digital and physical worlds. Chainlink enables users to create and access various decentralized services, such as DeFi, NFTs, gaming, insurance, and more.
However, Chainlink also has some drawbacks and challenges. It is slow, expensive, and inefficient compared to other cryptocurrencies. It consumes a lot of gas and resources to run its network.
It also faces competition from newer and more advanced oracle platforms that offer better solutions and features. Chainlink may lose its relevance and market share if it fails to deliver and innovate.
NOTE:
Market caps and pricing sourced from coinmarketcap.com , current as of 2:31 p.m. UTC on Dec. 23, 2023.
The bottom Line
In this article, we have presented the top 10 cryptocurrencies to buy in 2023, based on their current performance, future prospects, and market sentiment.
We have also provided a table that summarizes the main attributes, pros, and cons of each cryptocurrency. This will help you make an informed decision and choose the best cryptocurrency for your needs and goals.
We hope you have enjoyed reading this article and learned something new and useful. If you have any questions, comments, or feedback, please feel free to leave them below. Thank you for your time and attention. Happy investing! 😊
