Should I invest in cryptocurrencies in 2024?
These are the cryptocurrencies worth investing in by 2025.
Altcoins
- Ethereum
- Binance Coin (BNB)
- Solana (SOL)
- Cardano (ADA)
- Polkadot (DOT)
- Avalanche (AVAX)
- Chainlink (LINK)
- Polygon (MATIC)
- Uniswap (UNI)
- Ripple (XRP)
Meme Coins
- Doge Coin
- Shiba inu
- Pepe coin
- WIF
- Floki Inu (FLOKI)
- Bonk (BONK)
- Book of Meme (BOM)
- WienerAI (WIEN)
AI Tokens
- Render Token (RNDR)
- Fetch.ai (FET)
- The Graph (GRT)
- NEAR Protocol (NEAR)
- Internet Computer (ICP)
- Theta Network (THETA)
- SingularityNET (AGIX)
- Ocean Protocol (OCEAN)
- Akash Network (AKT)
- AIOZ Network (AIOZ)
Gaming
- Axie Infinity (AXS)
- Immutable X (IMX)
- The Sandbox (SAND)
- Decentraland (MANA)
- Gala Games (GALA)
- Enjin Coin (ENJ)
- Illuvium (ILV)
- Yield Guild Games (YGG)
- ApeCoin (APE)
- Xaya (XAY)
Here are things you should consider before investing in 2024
Pros:
- Potential for high returns: The cryptocurrency market has a history of explosive growth, though also with crashes.
- Emerging technology: Blockchain technology, the foundation of crypto, Next some years it could become a part of many industries.
- Decentralization: As you know Cryptocurrencies are not operated or controlled by governments or banks, Crypto coins are controlled by investors.
- Bull run of 2025: Some experts predict a bull run coming in 2025.
Cons:
- Volatility: Cryptocurrencies can experience wild price swings, making them risky investments.
- Regulation: Governments are still figuring out how to regulate crypto, which could cause uncertainty.
- Security risks: Crypto exchanges and wallets can be hacked, leading to lost investments.
- Competition: There are thousands of cryptocurrencies, making it hard to pick the right ones.
Well, Research Before you invest:
- Do your research: Understand blockchain technology and observe specific crypto tokens before you invest like their coin price, Historical growth, market cap, volume and what is growth potential in the future.
- Invest what you can afford to lose: The important thing is that invest what you can afford to lose. Keep in mind Cryptocurrencies are risky, so only invest what you would not mind losing.
- Diversify your portfolio: As you know Don’t put all your eggs in one basket just like you should not hold your all digital assets in a single wallet or exchange. you should create multiple wallets to hold your crypto coins.
- Consider your risk tolerance: How comfortable are you with potential losses? Cryptocurrencies are not for everyone. If you have to courage to have big Losses then invest in.
How to Manage Your Digital Assets?
Resources:
- CoinMarketCap (https://coinmarketcap.com/)
- Coingecko (https://www.coingecko.com/)
- Forbes Advisor – Top Cryptocurrencies (https://www.forbes.com/advisor/au/investing/cryptocurrency/crypto-to-watch-2024/)
Disclaimer: I am not a financial advisor and this is not financial advice. Please do your own research before making any investment decisions.
Around $300 million was liquidated from the crypto market in recent days