Are you looking to invest in cryptocurrencies but unsure which one to buy? With so many options available, it can be overwhelming to decide how to invest your money. That’s why we’ve compiled a list of the best crypto to buy now, based on factors such as project developments, price performance, and market capitalization, as well as the overall potential for growth.
In this article, we’ll take a closer look at the most promising cryptocurrencies, including staples such as Bitcoin and Ethereum, and a combination of several other promising crypto projects. We’ll discuss their features, advantages, and potential drawbacks, as well as provide insights into market trends. Whether you’re a seasoned investor or just starting out, this article will help you make an informed decision about the best crypto to buy now.
So, let’s dive in and explore the best cryptocurrencies to invest in November 2024:
- Bitcoin – The world’s oldest and largest crypto
- Ethereum – The leading DeFi and smart contract platform
- Cardano – One of the largest blockchain ecosystems
- XRP – The leading crypto remittance solution
- ZCash – Privacy-focused cryptocurrency
- Uniswap – The largest decentralized trading protocol
- Dogecoin – The original meme coin
- ApeCoin – A leading NFT and metaverse project
- Sui – Robust and highly scalable L1 blockchain
- Aave – The biggest DeFi lending protocol
- Solana – Smart contracts platform with high speeds and low fees
- Maker – The DeFi protocol behind the Dai stablecoin
The 12 best cryptos to buy right now: Discover top investments for November 2024
The following three cryptocurrency projects highlight our investment selection thanks to important developments and upcoming events that make them especially interesting to follow in the near future. These projects are updated each week based on the most recent developments and trends taking place in the crypto market.
1. Bitcoin
Bitcoin (BTC) is the original decentralized digital currency, enabling peer-to-peer transactions without the need for intermediaries such as banks or financial institutions. It was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin was the first digital currency to eliminate the double spending problem without resorting to any central intermediaries.
Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers around the world. This means that the transactions are secure and transparent, as anyone can view them, but they are also anonymous, as the identity of the participants in the transaction is not revealed.
BTC can be bought and sold on cryptocurrency exchanges, and they can be stored in a digital wallet, which is a software program that securely stores private keys that are required to access and transfer the currency.
Bitcoin is often referred to as “digital gold” or a store of value, as it has a limited supply of 21 million coins, and its value is determined by market demand. Some people also see it as a hedge against inflation or a way to diversify their investment portfolio. It is by far the largest cryptocurrency by market cap in the industry, accounting for the value of more than 40% of all digital assets in circulation combined, making it arguably the most popular crypto to buy.
Why Bitcoin?
Following the election of Donald Trump as the next U.S. President on November 5th, the cryptocurrency markets exploded, led by Bitcoin’s 19% surge. In fact, BTC reached a new all-time high of $82,300 during the post-election rally.
Investors are betting that the Trump presidency will be much more crypto-friendly than the Biden administration, and for good reason. Not only has Trump promised to replace the hawkish SEC chair Garry Gensler, who was notoriously anti-crypto, but he is also involved in a number of crypto projects directly – including CollectTrumpCards, a NFT collection featuring the president-elect’s cartoonish images – and World Liberty Financial, a DeFi project helmed by him and his sons.
Both retail and institutional investors contributed heavily to the recent BTC rally. According to data from The Block, the Bitcoin spot ETF trading volume reached $6.17 billion on November 6 alone (a day after the election). This was the highest volume recorded since March 2024.
Most experts agree that we could see a further rally in the price of Bitcoin, with price targets most commonly ranging between $100,000 and $150,000. The Bitcoin Fear & Greed Index tracked by CoinCodex currently stands at 69, which is definitely high but leaves room for additional growth. Moreover, other risk assets, such as tech stocks, are also rallying, which is another positive indication for continued growth in the crypto market.
Another development that could be seen as bullish for BTC (and virtually all other risk assets) is the expected rate cut for November. According to data tracked by CME Group, just a hair over 68% of traders believe that the Fed will bring down rates to 425-450 bps during the next meeting, which would be another 0.5% reduction in interest rates.
2. Ethereum
Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum is a decentralized, open-source blockchain platform that allows developers to build decentralized applications (dApps) and smart contracts.
Ethereum has a wide range of use cases beyond just a store of value or medium of exchange. Ethereum’s smart contract functionality allows developers to build dApps that can run without the need for intermediaries, like centralized servers or institutions.
The Ethereum platform has gained widespread adoption and has become the backbone of the decentralized finance (DeFi) industry. DeFi applications built on Ethereum allow users to access financial services without relying on traditional banks or financial institutions. Ethereum’s smart contract functionality has also enabled the creation of non-fungible tokens (NFTs), which have gained popularity in the digital art and gaming worlds.
While Ethereum has a strong community and has been highly influential in the cryptocurrency industry, it also faces challenges, such as scalability issues and high gas fees. These issues have spurred the development of various Layer 2 scaling solutions. In the long run, future updates are supposed to massively increase Ethereum’s throughput bringing the transaction per second (TPS) figure from 15 to 100,000.
Why Ethereum?
Ethereum has been a major benefactor of the recent crypto rally, gaining more than 30% in the last week. In the same time period, Bitcoin gained just 18%. We could be witnessing the start of a trend reversal, which many experts have been predicting for the last couple of months.
Since the start of the year, BTC’s price has increased by over 83%, whereas the price of ETH increased by 36%. It’s very likely that we could see ETH close the gap with the largest cryptocurrency. During the 2021 rally, both cryptocurrencies posted similar returns, which lends credence to the possibility that we could see the same scenario play out in 2024.
One of the factors that could help Ethereum reach higher in the near future is the resurgence in the popularity of Ethereum-based meme coins. This year, we’ve seen the meme coin sector being primarily dominated by meme coins issued on the Solana blockchain, which was reflected in record DEX volume on Raydium and other Solana decentralized marketplaces.
However, the ongoing rally saw major Ethereum-based meme coins like Shiba Inu and Pepe coin surge by high double-digit percentages, which could be a precursor of things to come. Since the start of last week, the trading volume on Uniswap, Ethereum’s largest DEX, increased from $4.46 billion to $5.46 billion, per data from DeFi Llama.
3. Cardano
Cardano was founded by Charles Hoskinson, one of the co-founders of Ethereum, and his team. The main goal of Cardano is to provide a secure, scalable, and sustainable infrastructure for the development of decentralized applications (DApps) and smart contracts.
Cardano’s blockchain is built using a unique layered architecture, separating the settlement layer from the computation layer. This design approach aims to improve the efficiency, flexibility, and security of the platform. The settlement layer is responsible for handling transactions and maintaining the cryptocurrency (ADA) ledger, while the computation layer is used for running smart contracts and executing DApps.
The platform utilizes a consensus algorithm called Ouroboros, which is a type of proof-of-stake (PoS) mechanism. This means that validators (also known as stakeholders) are selected to create new blocks and validate transactions based on the amount of ADA they hold and are willing to “stake” as collateral.
Cardano has a strong focus on academic research and peer-reviewed development. The team emphasizes scientific rigor and evidence-based protocols to ensure that the platform is secure, scalable, and capable of handling complex use cases.
Why Cardano?
Cardano gained close to 80% in the past week, more than virtually any other cryptocurrency in the top 20 in the time period (except for DOGE). What could be perceived as a notably bullish indicator is the fact that ADA is currently trading more than 81% removed from its all-time high. Compare that to BTC, which is trading at ATH, and ETH or SOL, which are less than 30% removed from their respective ATHs, and you quickly see why ADA should be on every inventor’s watchlist at the moment.
What’s more, Cardano developer Emurgo has partnered with BitcoinOS to allow Cardano DeFi to tap into the trillion-dollar Bitcoin liquidity without intermediaries. BitcoinOS is a smart contract operating system for Bitcoin that uses zero-knowledge proofs (ZKPs) to enable Bitcoin to scale efficiently without sacrificing decentralization or security.
The first step of the partnership will be the integration of the Bitcoin OS Grail bridge with Cardano, which will allow BTC and other assets on the Bitcoin blockchain to be trustlessly bridged over to Cardano. The Grail bridge employs zero-knowledge cryptography to enable Bitcoin users to transfer their BTC to other blockchains without relying on intermediaries.
After the integration, decentralized apps on Cardano will be able to tap into the massive $1.3 trillion liquidity on the Bitcoin blockchain. In practice, this means that BTC holders will be able to stake their BTC as collateral to borrow stablecoins and farm yield or engage in a number of other DeFi use cases.
In related news, Cardano founder Charles Hoskinson expressed enthusiasm about the collaboration, and stated that he plans to re-launch his Bitcoin Education Project next year.
4. XRP
XRP is a digital cryptocurrency that was created by Ripple Labs in 2012. It is used as a means of payment and transfer of value on the Ripple payment protocol, which is designed to enable fast and secure transactions between financial institutions, as well as individuals.
XRP is unique in that it is not based on the blockchain technology used by many other cryptocurrencies. Instead, it uses a distributed consensus ledger called the XRP Ledger, which is maintained by a network of validators. This allows for faster transaction processing times and lower fees compared to traditional payment methods.
XRP has been popular among cryptocurrency traders and investors due to its high liquidity and clear potential for broader adoption, especially as a remittance solution. However, it has also been the subject of controversy and legal action, with US regulators alleging that it is a security and should thus be subjected to securities regulations. This has somewhat hindered the potential of XRP as an investment, and handcuffed Ripple’s growth as a company.
Why XRP?
Following the launch of Bitcoin spot ETFs in the US in January and Ethereum ETFs in July, the exchange-traded fund for XRP could be next. Crypto-focused investment firm 21Shares has filed an application for the ETF called the 21Shares Core XRP Trust. According to the November 1st filing, the firm seeks to get its XRP trust listed on the Cboe BZX Exchange.
“The Trust is a passive investment vehicle that does not seek to generate returns beyond tracking the price of XRP. This means the Sponsor (21Shares) does not speculatively sell XRP at times when its price is high or speculatively acquire XRP at low prices in the expectation of future price increases,” the firm wrote in the filing.
So far, 21Shares offers Ethereum and Bitcoin spot ETFs and controls about $3.5 billion in assets under management (AUM). In addition to XRP, the firm is vying for a Solana ETF as well.
In addition to 21Shares, several other firms are vying for an XRP spot ETF, including Canary Capital and Bitwise.
In addition to new trading products, there are other developments in the XRP ecosystem that are worth following. Ripple is preparing to launch its Ripple USD stablecoin, which could potentially shake up the stablecoin sector and present a challenger to Tether’s and USDC’s dominance.
At the time of writing this article, tens of millions of RLUSD stablecoins are already in circulation on XRP Ledger and Ethereum. The newly issued stablecoins are reserved for testing and ironing out any potential bugs before the widespread release slated for later this year. Ripple claims that RLUSD is “operationally ready” and is awaiting regulatory approval by the NYDFS.
Last month, Ripple announced its stablecoin exchange partners, which include Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay, and Uphold.
The launch of RLUSD and ETF could have a positive impact on the price of XRP. The coin’s performance has been relatively lackluster over the past couple of months, gaining just 1% since August.
5. ZCash
ZCash (ZEC) is a privacy-focused cryptocurrency that was launched in 2016 by Zooko Wilcox-O’Hearn. It is a fork of Bitcoin, designed to enhance privacy and anonymity for its users. Unlike Bitcoin, where transaction details (such as sender, recipient, and amount) are publicly visible, ZCash allows users to choose between two types of transactions: transparent and shielded.
Transparent transactions work similarly to Bitcoin, where all transaction details are recorded on the blockchain and visible to everyone. However, shielded transactions use a cryptographic technology called zk-SNARKs to allow fully private transactions. In shielded transactions, the details are encrypted, meaning that only the parties involved have access to the information, while the validity of the transaction is still verifiable by the network.
ZCash is particularly valued by those who prioritize financial privacy and security, as it offers optional anonymity in a way that few other cryptocurrencies do.
Why ZCash?
ZCash has experienced very strong market performance over the past couple of weeks, outperforming most of the other major cryptocurrencies. Since the start of October, the price rose from $25 to $39.
Coincidentally, several updates released over the last month might have played a role in ZEC’s impressive performance. On October 10, the world’s leading cryptocurrency exchange, Coinbase, announced support for TEX addresses for ZCash.
TEX addresses are ZCash addresses that were basically created as a response to “governments weaponizing money against protestors” and “stripping people of the human right of privacy.”
In addition, the team behind the privacy coin recently rolled out several updates for the Zashi wallet app. Some notable new features include an address book, QR code payments, a redesigned send tab, improved transaction history, and UI enhancements. For a complete changelog, make sure to check the official blog post.
In addition, several other notable improvement proposals are planned to go live in late November as a part of the 6.0.0 release, including new consensus rules for the ZCash development fund, revamped block reward allocation, and more.
6. Uniswap
Uniswap is a decentralized exchange (DEX) that runs on the Ethereum blockchain. It was created in 2018 by Hayden Adams, and it allows users to trade various cryptocurrencies without the need for an intermediary or central authority.
Uniswap uses an automated market maker (AMM) system, which means that there is no order book or centralized exchange to match buyers and sellers. Instead, liquidity providers (LPs) contribute funds to liquidity pools, which are used to execute trades. Traders can swap one cryptocurrency for another by exchanging tokens with the liquidity pool, which uses a mathematical formula to determine the exchange rate.
The native cryptocurrency of the Uniswap platform is UNI, which is used for governance and for providing incentives to liquidity providers. UNI holders can participate in platform governance, including proposing and voting on changes to the protocol.
In the six years since its launch, Uniswap has grown to become the most popular decentralized exchange in the cryptocurrency ecosystem, with billions of dollars in trading volume and a large community of users and developers.
Why Uniswap?
Uniswap developers Uniswap Labs have announced their plans for a layer-2 network that will run on Ethereum. The L2 solution will be called Unichain and will be built on Optimism’s OP Stack.
According to the developers, the new L2 will be incredibly fast and will easily facilitate token swapping across multiple blockchains. Here’s what the developers wrote on X:
Unichain will be so fast, transactions will feel instant. It launches with 1 second block times, with 200-250 millisecond sub-block times coming soon. This type of speed isn’t just great for UX, it also improves market efficiency and lowers value lost to MEV.
Uniswap’s L2 solution could save an immense amount of funds over the course of a year. According to DeFi Report founder Michael Nadeau, $368 million in fees was paid out to Ethereum validators last year alone. Nadeau said that the winners of Uniswap’s move to Unichain will be Uniswap Labs, UNI token holders, liquidity providers, and Optimis. Meanwhile, Ethereum validators, ETH holders, and L2s currently enabling Uniswap will end up on the losing side.
7. Dogecoin
Dogecoin, created in 2013 as a joke featuring the Shiba Inu from the “Doge” meme, rapidly evolved into a notable cryptocurrency. Developed by Billy Markus and Jackson Palmer, it aimed to be a more accessible alternative to Bitcoin with a larger, uncapped supply and lower transaction fees. Its primary use has been for online tipping and small transactions, supported by a vibrant community known for charitable activities.
Despite its humorous origins, Dogecoin gained serious traction, especially during the 2021 cryptocurrency boom, driven by social media and high-profile endorsements. Technically similar to Litecoin, it features faster transaction times due to shorter block times. This combination of community support and technical efficiency has maintained Dogecoin’s relevance in the volatile cryptocurrency market.
Why Dogecoin?
After mostly stale price movement in August and September, Dogecoin awakened with a vengeance in October, recording a 50% increase in the last number of weeks. A large reason for the notable increase was none other than Tesla and Space X CEO, who made several comments that were perceived as potential bullish signals by some DOGE investors.
In early October, Musk tweeted that “Doge will fix” it in response to a Los Angeles Times article reporting that California officials had blocked his SpaceX company from launching more rockets from the state. Musk was, of course, referring to a so-called Department of Governmental Efficiency, a proposed government efficiency commission that would be led by Musk in case ex-president Donald Trump wins the election.
However, the tweet was not interpreted as such by Dogecoin investors, and DOGE’s price jumped by more than 20% after the post went live on X.
But that was not the only time that Musk significantly impacted the price of the world’s largest meme coin this month. At a Pennsylvania rally in support of the Republican presidential nominee last week, the tech billionaire said he just likes Dogecoin. He added that he is not actively involved in crypto but that he likes humor and memes related to Doge. As one would expect, the price of the meme coin jumped significantly after these comments, reaching a 4-month high of about 15 cents.
Given that Dogecoin is clearly Musk’s favorite crypto and the prospects of him being heavily involved with the next US administration, it’s no wonder that many crypto investors believe that Doge is ready for a massive pump in 2025. Check the video below to learn more.
8. ApeCoin
ApeCoin (APE) is the native cryptocurrency of the Ape ecosystem, primarily associated with the Bored Ape Yacht Club (BAYC), one of the most popular NFT collections to date. Built as an ERC-20 token on the Ethereum blockchain, ApeCoin is designed to serve as the foundational currency of this growing community. It not only functions as a medium of exchange within the BAYC universe but also plays a crucial role in decentralized governance through the ApeCoin DAO. This governance model allows token holders to participate in decision-making processes that influence the future development of the ecosystem, from the allocation of funds to strategic initiatives.
In addition to governance, ApeCoin has broader utility within its ecosystem. It can be used to access exclusive features, events, and games developed by Yuga Labs, the creators of BAYC. The coin also powers an incentive structure that rewards participants and developers contributing to the ecosystem’s growth. APE is being integrated into a range of decentralized applications (dApps) and virtual experiences, particularly as Yuga Labs expands its ambitions in the metaverse with its “Otherside” project.
Why ApeCoin?
The ApeCoin team has launched ApeChain, a new blockchain that will allow ApeCoin holders to earn native yields when staking APE, ETH, and stablecoins. The new blockchain went live on October 19 and prompted more than a 100% increase in the price of APE, from roughly 80 cents to more than $1.60. Since then, the price has seen a significant retracement to about $1.10.
Along with the launch of the new chain, the team launched a portal that allows APE holders to bridge their tokens from Ethereum and Arbitrum to the newly launched ApeChain.
ApeChain is designed to facilitate NFT minting, trading, and decentralized application (dApp) use cases. It is also completely compatible with the APE token. It is built on the Arbitrum One technology as a layer 3 network.
“ApeCoin has introduced an automatic yield mode, allowing users to passively earn returns by staking their APE tokens. This new feature reinvests rewards automatically, maximizing yield over time,” head of 10x Research, Markus Thielen, remarked on the launch of ApeChain.
9. Sui
Sui is a layer 1 blockchain focused on scalability and high throughput. Thanks to its robust performance, Sui is positioned to become one of the leading chains in the Web3 and NFT space, challenging the likes of Ethereum and Solana.
Smart contracts on the Sui blockchain are written in the Move programming language, a language developed by a team of Facebook developers who worked on the Diem stablecoin project. Move was first prominently used by the Aptos team, which features a lot of individuals who worked on the Diem project before it was shut down.
The native token of the Sui blockchain is called SUI. The token is used to pay gas fees for transactions, staking, and compensating validators for securing the network, for funding Sui’s storage fund, and for the Sui ecosystem governance.
Why Sui?
The Sui token has been a very strong performer in the past month, recording a 120% upswing amid relatively poor market conditions. There have been several developments in the Sui ecosystem that could be responsible for investors’ optimism regarding the token.
An important development was definitely the launch of USDC stablecoin on the Sui blockchain in September, which made it easier for investors to deposit and withdraw funds using Sui dApps. The launch of the second most popular stablecoin on the blockchain helped spark an investor frenzy among Sui meme coin buyers. On October 7 alone, the market cap of Sui meme coins rose by 26% to $302 million, according to CoinCodex.
In addition, the Sui team announced last month that they will be selling a “first-of-its-kind” web3 gaming device dubbed SuiPlay0X1. The handheld device – which is similar to the popular Steam Deck – is powered by the AMD Ryzen 7 7840U CPU and comes with a 512 gigabyte SSD. It has 16 GB of RAM and a 7” full HD display. The device will cost $599 and will start shipping in the first half of 2025.
In other related news, 3DOS has partnered with Sui to create a decentralized 3D printing network, enabling users and manufacturers to connect globally for on-demand, local production. Sui acts as the coordination layer, synchronizing real-time production needs and resources. This integration aims to transform the $15.6 trillion manufacturing market by reducing costs, eliminating waste, and empowering local economies.
Finally, it’s worth noting that the Sui team recently significantly improved the way the network handles transactions. According to the blog post, Sui’s shared object congestion control introduces a new system to manage high-demand transactions more efficiently. It prioritizes transactions with higher gas fees and prevents delays by limiting the number of transactions affecting congested, or “hot,” shared objects. The new design allows for deferring and canceling transactions, improving execution order and preventing bottlenecks.
10. Aave
Aave is a decentralized liquidity protocol that utilizes smart contracts to enable users to either borrow crypto assets or earn interest on their holdings in a decentralized fashion. While Aave operates as a series of smart contracts on a blockchain, most users engage with the protocol through interfaces like app.aave.com.
As of now, Aave allows users to earn a yield on roughly 20 different cryptocurrencies. Typically, stablecoins like USDT, USDP, and TUSD offer the highest returns. The yields available through Aave are influenced by market demand—when there’s high demand for borrowing a specific asset, the APY for those supplying that asset increases.
Additionally, Aave provides a staking option for holders of its AAVE governance token. This feature allows AAVE holders to earn yield while also enhancing the security of the Aave protocol. Originally launched on the Ethereum blockchain, Aave has since expanded to other platforms, including Avalanche, Optimism, Polygon, and Arbitrum.
Why Aave?
Crypto investment giant Grayscale has launched a new fund that provides exposure to Aave’s AAVE token, marking another addition to the company’s lineup of cryptocurrency products. Aave has become the largest cryptocurrency lending protocol by total value locked (TVL), according to DeFiLlama. At the time of writing, Aave has a TVL of $12.6 billion.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, stated that the Grayscale Aave Trust enables investors to engage with a protocol that has the potential to transform traditional finance through blockchain technology and smart contracts, thereby optimizing lending and borrowing processes.
This launch follows Grayscale’s recent introduction of the Avalanche Trust, which offers exposure to the AVAX token. The firm now manages over 20 cryptocurrency investment products, a portfolio that has expanded significantly since the launch of spot Bitcoin ETFs in January.
11. Solana
Solana is a smart contract platform known for its distinctive architecture, enabling it to handle thousands of transactions per second while maintaining very low costs. It accomplishes this by using a combination of a unique Proof-of-History algorithm and a Proof-of-Stake consensus mechanism. SOL, the native cryptocurrency of the platform, is one of the cheapest to transfer, with users typically paying less than $0.001 per transaction.
Founded in 2018 by Anatoly Yakovenko, Solana’s mainnet went live in March 2020 and experienced a surge in adoption throughout 2021. Despite a significant drop in value during the 2022 bear market, Solana remains one of the most robust ecosystems in the cryptocurrency space and continues to be seen as a potential candidate for significant future growth.
Why Solana?
It’s been an exciting week for Solana, largely due to the Breakpoint conference held in Singapore from September 20 to 21. Several major announcements during the event highlighted that the Solana ecosystem is thriving and will be worth watching closely in the coming weeks and months.
Perhaps the most significant news from the conference was the launch of the Firedancer Solana client prototype on the mainnet. This prototype, called “Frankendancer,” is laying the groundwork for a full Firedancer rollout, which is expected to substantially enhance Solana’s already impressive scalability.
In addition to the “Frankendancer” debut on mainnet, the complete Firedancer client has been deployed on the testnet, marking another important milestone for the project.
Another exciting development for Solana is the announcement from Solana Mobile of a new crypto-friendly smartphone, the Seeker. The Seeker, a successor to the Saga phone introduced in 2023, is slated for release in mid-2025, with 140,000 pre-orders already placed. The phone is currently available for pre-order at $500, but the price is expected to increase in the next phase of pre-orders.
12. Maker
Maker is a decentralized finance protocol on the Ethereum blockchain that issues and manages Dai, a decentralized stablecoin pegged to the US dollar. Users that hold assets that are supported as collateral (for example, ETH) can lock their coins into Maker’s smart contracts in order to issue Dai.
The system is overcollateralized—in order to mint Dai, users need to provide collateral that exceeds the value of minted Dai, and users are required to monitor the value of their collateral in order to avoid liquidation.
The MKR token is used as the governance token for the Maker, a decentralized autonomous organization that oversees the Maker protocol.
Maker was founded in 2014 by Rune Christensen, and the Dai stablecoin was launched in late 2017. Initially, the Maker protocol only supported ETH as collateral. With the launch of Multi-Collateral Dai in 2019, it also became possible to use other forms of collateral. Today, Dai is backed by a diverse range of assets, including ETH, (wrapped) BTC, USDC, USDP, and many others.
Why MakerDAO?
Maker is rebranding to Sky, a move that will see one of the oldest DeFi protocols revamp its products and services offering. Here’s a quick rundown of changes that the rebrand encompasses:
- Maker Protocol is now Sky Protocol.
- MKR token is now SKY token.
- USDS is an upgraded version of the DAI decentralized stablecoin.
- Sky Stars are decentralized projects within the Sky ecosystem that serve as a gateway to the Sky Protocol.
- Sky.Money is a non-custodial and permissionless gateway to the Sky Protocol.
The team has revealed that MKR will be upgraded to SKY on September 18th at a conversion rate of 1:24,000. With the price of MKR currently being around $1,525, a single SKY token should be worth about 6 cents post-upgrade. Meanwhile, USDS will retain its USD peg, meaning that DAI will be exchanged for USDS at a 1:1 ratio. Holders will have the option to voluntarily choose whether to keep their old tokens or exchange them for new ones.
Best cryptocurrencies to buy at a glance
| Native Asset | Launched In | Description | Market Cap* | |
| Bitcoin | BTC | 2009 | A P2P open-source digital currency | $1.50 tln |
| Ethereum | ETH | 2015 | The leading DeFi and smart contract platform | $385 bln |
| Cardano | ADA | 2017 | One of the largest blockchain ecosystems | $20.7 bln |
| XRP | XRP | 2012 | The leading crypto remittance solution | $33.0 bln |
| ZCash | ZEC | 2016 | Privacy-focused cryptocurrency | $607 mln |
| Uniswap | UNI | 2018 | The largest decentralized trading protocol | $5.41 bln |
| Dogecoin | DOGE | 2013 | The original meme coin | $42.9 bln |
| ApeCoin | APE | 2022 | A leading NFT and metaverse project | $1.02 bln |
| Sui | SUI | 2023 | Robust and highly scalable L1 blockchain | $3.59 bln |
| Aave | AAVE | 2020 | The biggest DeFi lending protocol | $1.05 bln |
| Solana | SOL | 2020 | Smart contracts platform with high speeds and low fees | $67.05 bln |
| Maker | MKR | 2015 | The DeFi protocol behind the Dai stablecoin | $1.48 bln |
Best crypto to buy for beginners
If you are just starting out in crypto, it is advisable to stick to cryptocurrency projects that are less prone to volatility and are generally more established. While this approach does have a downside, as it becomes much more difficult to expect triple-digit or larger gains, the major upside is that you are not exposed to projects that have a chance of failing and, thus, losing your entire investment.
In order to identify projects that are stable and thus feature low volatility, you can start by following the parameters listed below:
- The crypto asset has a market capitalization that places it into the cryptocurrency top 100 (roughly $650 million as of late 2024)
- The crypto asset is available for trading on the best crypto exchange platforms and can be exchanged for fiat currencies
- The crypto asset boasts healthy liquidity ($100M/day and more), which allows you to execute buy and sell orders quickly and without slippage
- The crypto asset is part of a reputable crypto project with clear goals, a realistic roadmap, and products and services that look to address real-world problems
Some of the best cryptos to buy for beginners are those that follow the above criteria and have earned their standing in the crypto market due to robust security, popular products and services, and clear growth potential. Some beginner-friendly crypto investments are:
- Bitcoin
- Ethereum
- Litecoin
- Cardano
- BNB
It is worth noting that cryptocurrency investments are inherently risky, even if you stick to the biggest and most reputable projects. The reason for this is simple – the crypto sector is relatively new, and the landscape might look completely different in the future.
Best crypto for long-term
When deciding which cryptocurrency to buy for the long term, it’s important to consider projects that are well-established, have a strong community, are highly liquid, have a large market cap, and have a clear reason for existing (such as solving a real-life problem, introducing new functionality, etc.). Without these characteristics, a project might fail to survive in the long term, rendering it a bad long-term investment.
It is worth noting that, typically, most long-term crypto investors are looking for projects that have the potential to generate decent returns but also provide a degree of investment stability. Roughly speaking, only the largest cryptocurrencies fit the bill, as others have a low market cap and liquidity that doesn’t bode well for a long-term commitment (unless you’re prepared to take on more risk).
In addition to Bitcoin and Ethereum, there are a number of other cryptocurrencies that fit the criteria of being low-risk, long-term crypto investments.
If you are planning to hold onto your digital assets for a longer period of time, it is best to take care of crypto custody yourself. Holding large amounts of crypto on an exchange can be risky, as we’ve seen over the years with the collapse of high-profile exchanges like Mt. Gox and FTX. Use one of the reputable crypto hardware wallets to store your crypto. Ledger hardware wallets, for instance, allow you to manage your crypto holdings easily and provide a much higher degree of security than crypto exchanges or even software crypto wallets.
Best place to buy crypto
One crucial aspect to consider when choosing which platform to use to buy crypto is the range of cryptocurrencies and trading pairs available. Since different exchanges support varying digital assets, it’s important to choose a platform that accommodates the specific cryptocurrencies you intend to trade.
Additionally, assessing an exchange’s liquidity and trading volume is essential. Higher liquidity generally results in improved price stability and faster trade executions. Furthermore, it is prudent to examine the fees charged by the exchange, encompassing deposit, withdrawal, and trading fees. Comparing fee structures across different exchanges can help you identify the most cost-effective option that aligns with your trading style. With that said, here are some of the best exchanges on the market right now:
- Binance – The best cryptocurrency exchange overall
- KuCoin – The best exchange for altcoin trading
- Kraken – A centralized exchange with the best security
By diligently considering these factors, you can make an informed decision and select a cryptocurrency exchange that meets your requirements for security, variety, liquidity, and affordability.
How we choose the best cryptocurrencies to buy
At CoinCheckup, we provide real-time prices for over 22,000 cryptocurrencies, with the list growing by dozens each day. As you can imagine, making a selection of a dozen top cryptocurrencies to buy out of such an immense dataset can be difficult and will for sure lead to some projects that should be featured being omitted. To minimize the chance of that happening, we follow certain guidelines when trying to identify the best cryptocurrencies to invest in.
Availability
One of the most important factors for any cryptocurrency investment is the crypto asset’s availability, meaning how easy it is to buy and sell it across various cryptocurrency exchanges. We tend to stay away from assets that are not available on major exchanges and require complex procedures to obtain.
Market Capitalization
Another important metric for identifying whether a crypto project is worth covering its market cap. A high market cap means that the project has reached a certain level of adoption from users, making it less risky to invest in.
Growth Potential
While this metric is mostly subjective, it is still an important metric on which we curate our selection. We won’t feature projects that we think are stagnating or have no real upside in the future.
Purpose and Use Case
We consider the purpose and use case of cryptocurrency, particularly in a real-world setting. Some cryptocurrencies focus on specific industries or applications, such as decentralized finance, gaming, or supply chain management.
Team and Development
The team and people involved in the project can tell you a lot about the potential of a particular cryptocurrency project. We examine the team’s experience, expertise, and track record and evaluate the development activity and updates to ensure the project is actively maintained and evolving.
The bottom line: What crypto should you buy right now?
The decision of which crypto to buy now is dependent on your own risk profile and investment goals. For some, investing in a crypto asset with a proven track record like Bitcoin is the only type of exposure to crypto they are willing to take on.
Meanwhile, those with a higher risk tolerance might see Bitcoin as too stable, looking instead toward newer and smaller projects that carry a higher degree of upside.
If you are looking for more investment ideas, check out our crypto price predictions section.
