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10 Best Cryptocurrencies to Buy in April 2024 – Forbes Advisor INDIA
From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, which can be overwhelming when you’re first starting out in the world of cryptocurrencies. To help you orient yourself, these are the 10 best cryptocurrencies to invest in based on their market capitalization, or the total value of all coins currently in circulation.
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What are cryptocurrencies?
A cryptocurrency is a digital asset based on blockchain technology and can circulate without the centralized authority of a bank or government. As of today, there are 24,630 cryptocurrency projects in the cryptocurrency market which is estimated to reach $4.94 billion by 2030.
The 10 best cryptocurrencies
1. Bitcoin (BTC)
- Market capitalization: $1.3 trillion
- Year-over-year performance: 136%
Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC works on a blockchainor a ledger that records transactions distributed across a network of thousands of computers. Because additions to distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept safe and secure from scammers.
Bitcoin’s price has skyrocketed as it has become a household name. In May 2016, you could buy one bitcoin for around $500. As of April 25, 2024, the price of a single bitcoin was around $64,427. This is a growth of 12,785%.
Related: How to buy Bitcoin
2. Ethereum (ETH)
- Market capitalization: 385.5 billion dollars
- Year-over-year performance: 73%
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite among program developers for its potential applications, such as so-called smart contracts that execute automatically when conditions are met, and non-fungible tokens (NFTs).
Ethereum has also seen tremendous growth. From April 2016 to the end of April 2024, its price went from around $11 to around $3,158, an increase of 28,605%.
Related: How to buy Ethereum
3. Tether (USDT)
- Market capitalization: $110.4 billion
- Year-over-year performance: 0%
Unlike other forms of cryptocurrency, Bind (USDT) is a stablecoin, meaning it is backed by fiat currencies such as the US dollar and the euro and hypothetically holds a value equal to one of these denominations. In theory, this means that Tether’s value should be more consistent than other cryptocurrencies, and is favored by investors who are wary of the extreme volatility of other coins.
4. Binance Coin (BNB)
- Market capitalization: $90.5 billion
- Year-over-year performance: 85%
Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay commissions on Binanceone of the biggest cryptocurrency exchanges in the world. Since its launch in 2017, Binance Coin has expanded beyond simply facilitating operations on the Binance exchange platform. It can now be used for commerce, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or bitcoin.
The price of BNB in 2017 was only $0.10. By the end of April 2024, its price had risen to around $613, a gain of 613,003%.
Related: How to buy cryptocurrency
Featured partners
Inheritance
Over 1 million investors trust Mudrex for their cryptocurrency investments
Safety
Mudrex is the Indian government. Recognized platform with 100% insured deposits stored in encrypted wallets
Commissions
Enjoy zero cryptocurrency deposit fees and the best rates in the industry.
Award-winning broker
Listed in Deloitte Fast 50 Index, Best Global FX Broker of 2022 – ForexExpo Dubai October 2022 & more
Best-in-Class for investment offerings
Trade over 26,000 assets with no minimum deposit
Customer care
Dedicated 24/7 support and easy registration
Welcome bonus on first deposit:
Get $30 in your verified trading account on your first deposit.
Variety:
Trade CFDs on cryptocurrencies, forex, stocks, metals, commodities and more!
Intuitive and economical:
Designed for traders of all levels, from beginners to professionals.
Increase your passive income
Over 250 cryptoassets available
Why support
Only a minimum deposit of $1
Commissions
Enjoy 0% bank fees on deposits and withdrawals*
We invite you to invest carefully, your capital is at risk
5. Solana (G)
- Market capitalization: 66.4 billion dollars
- Year-over-year performance: 610%
Developed to help fuel decentralized finance (DeFi), decentralized apps (DApps), and smart contracts, Solana works with unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. SOL, Solana’s native token, powers the platform.
When it launched in 2020, SOL’s price started at $0.77. At the end of April 2024, its price was around $148.30, a gain of 19.159%.
6. US Dollar Currency (USDC)
- Market capitalization: $33.2 billion
- Year-over-year performance: 0%
Like Tether, Currency in USD (USDC) is a stablecoin, meaning it is backed by US dollars and aims for a ratio of 1 USD: 1 USDC. USDC is powered by Ethereum and you can use USD Coin to complete global transactions.
7. XRP (XRP)
- Market capitalization: $29.0 billion
- Year-over-year performance: 15%
Created by some of the same founders as Ripplea digital technology and payment processing company, XRP can be used on that network to facilitate trades of different types of currencies, including fiat currencies and other major cryptocurrencies.
At the beginning of 2017, the price of XRP was $0.006. As of April 25, 2024, its price reached $0.53, representing an increase of 8.676%.
8. Dogecoin (DOGE)
- Market capitalization: $21.9 billion
- Year-over-year performance: 95%
Dogemoneta started as a joke in 2013, but quickly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes. Unlike many other cryptocurrencies, there is no limit to the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.
Dogecoin price in 2017 was $0.0002. In April 2024, its price was $0.15, up 75,904%.
Featured partners
Inheritance
Over 1 million investors trust Mudrex for their cryptocurrency investments
Safety
Mudrex is the Indian government. Recognized platform with 100% insured deposits stored in encrypted wallets
Commissions
Enjoy zero cryptocurrency deposit fees and the best rates in the industry.
Award-winning broker
Listed in Deloitte Fast 50 Index, Best Global FX Broker of 2022 – ForexExpo Dubai October 2022 & more
Best-in-Class for investment offerings
Trade over 26,000 assets with no minimum deposit
Customer care
Dedicated 24/7 support and easy registration
Welcome bonus on first deposit:
Get $30 in your verified trading account on your first deposit.
Variety:
Trade CFDs on cryptocurrencies, forex, stocks, metals, commodities and more!
Intuitive and economical:
Designed for traders of all levels, from beginners to professionals.
Increase your passive income
Over 250 cryptoassets available
Why support
Only a minimum deposit of $1
Commissions
Enjoy 0% bank fees on deposits and withdrawals*
We invite you to invest carefully, your capital is at risk
9. Toncoin (TON)
- Market capitalization: $18.9 billion
- Year-over-year performance: 141%
Originally developed as a layer 1 blockchain for Telegram’s encrypted messaging platform, Toncoin was soon abandoned before being taken over by the TON foundation. The name of the project was even changed to “The Open Network” from the original name “Telegram Open Network”, both referred to by their acronym: TON.
Toncoin, initially known as Gram, is the native token of TON. This is an application that allows users to purchase, send and store funds on TON’s incredibly fast and eco-friendly network.
10. Cardan (ADA)
- Market capitalization: $16.8 billion
- Year-over-year performance: 24%
A little later in the crypto scene, Cardan (ADA) is notable for its early embrace of proof of participation validation. This method speeds up transaction times and decreases energy consumption and the environmental impact by eliminating the competitive and troubleshooting aspect of verifying transactions in platforms like bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, powered by ADA, its native coin.
Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, the price of ADA was $0.02. As of April 25, 2024, its price was $0.47. This is an increase of 2,266%.
*Market caps and prices provided by coinmarketcap.com, as of 17:21 UTC on April 25, 2024.