13 Best Altcoins to Buy in July 2024

Seasoned investors are seizing the opportunity to buy altcoins, many of which are trading at significant discounts from their previous all-time highs. With thousands of altcoins available, each presents its own potential rewards, risks, and unique features.

In this guide, we highlight the 13 best altcoins to invest in right now, covering a diverse range of markets, including small, medium, and large-cap projects.

Pepe Unchained ($PEPU)

Pepe Unchained - the first meme crypto project running on its own Layer 2 blockchain with presale raising $210k within days.
Offers early investors double the staking rewards currently over 22,000% APY.
$PEPU's Layer 2 blockchain means reduced operational costs, faster speeds, and lower fees.

Project Launched

June 2024

Purchase Methods

ETH
USDT
Debit
BNB
+1 more

Learn More

The Meme Games ($MGMES)

Enter the Meme Games everyone's favorite meme characters such as Doge, Pepe, Brett, Turbo, and Dogwifhat
Earn a 25% token bonus by entering the 169 meter dash when you purchase tokens in the presale
Keep increasing your chances of winning big with multiple entries

Project Launched

July 2024

Purchase Methods

ETH
USDT
BNB
Debit
+1 more

Learn More

WienerAI ($WAI)

WienerAI is a unique meme token merging the appeal of crypto memes with AI
$WAI is an ERC20 token built on the Ethereum blockchain offering stakers rewards in excess of 100% p/a
With a total supply of 69Bn tokens 30% has been allocated to the presale, which has already raised $7 million

Project Launched

April 2024

Purchase Methods

ETH
USDT
BNB
Matic
+1 more

Learn More

PlayDoge ($PLAY)

PlayDoge brings real-life utility to the Doge meme scene with mobile-based P2E Tamagotchi-style game
$PLAY hodlers can stake their tokens to earn passive rewards and earn XP and bonuses whilst caring for their virtual pet
PlayDoge presale already raised over $200k within hours of launching

Project Launched

May 2024

Purchase Methods

BNB
USDT
Debit

Learn More

Shiba Shootout ($SHIBASHOOT)

Viral community-driven meme coin project offering poker tournaments and treasure hunts with a crypto twist
Generous referral program dubbed 'Posse Rewards' for referrer and new members to earn bonus $SHIBASHOOT tokens
Buy and stake $SHIBASHOOT tokens for passive rewards at a rate of 125.5 per ETH block, disbursed over 2 years

Project Launched

April 2024

Purchase Methods

BNB
ETH
USDT
Debit
+1 more

Learn More

Base Dawgz ($DAWGZ)

Latest Base chain meme coin on a high-octane journey offering multi-chain interoperability and purchases.
Unique share-to-earn mechanics allowing users to earn $DAWGZ tokens when relevant content is shared on social media.
Right time, right place. $DAWGZ comes just in time as Base meme coins hit a market cap of $1.78 billion.

Project Launched

June 2024

Purchase Methods

BNB
ETH
SOL
AVAX
BASE
+2 more

Learn More

Mega Dice Token ($DICE)

Trending new GameFi Solana token $DICE raises over $600k since launch
Offers $2,250,000 airdrop for casino players, as well as a 25% rev-share referral program
Buy and stake $DICE tokens to earn daily rewards

Project Launched

April 2024

Purchase Methods

Learn More

99Bitcoins Token ($99BTC)

First of a kind Learn-to-Earn crypto project that raised over $1 million within days of launching
As a PoS token participants can buy and stake $99BTC tokens for passive rewards
Token holders gain access to exclusive features including advanced courses and webinars

Project Launched

April 2024

Purchase Methods

BNB
ETH
Debit
USDT
+1 more

Learn More

Sponge V2 ($SPONGE)

Hot Meme Coin Project With Play to Earn Utility and Staking
Price has Pumped 10x in Last Month, Rumored to be Listing on Binance
Over 12k Holders and Growing

Project Launched

December 2023

Purchase Methods

ETH
USDT
Debit

Learn More

DOGE2014 (DOGE2014)

With DOGE's decade as meme-leader, DOGE2014 emerges to celebrate its longevity.
Buy and stake DOGE2014 tokens for huge rewards distributed over 2 years.
DOGE2014 tokens can be easily transferred to most EVM wallets within minutes.

Project Launched

June 2024

Purchase Methods

ETH
Tether
Debit

Learn More

SpacePay (SPY)

World's first crypto payment protocol that integrates efficiently with card machines, making crypto payments widely accessible.
Through a user-friendly payment APK, SpacePay lets customers buy with crypto while allowing merchants to receive funds in their local fiat.
SpacePay's native governance token, SPY, gives holders access to airdrops, exclusive features, as well as voting rights and quarterly connect webinars.

Project Launched

May 2024

Purchase Methods

ETH
USDT
AVAX
BASE
BNB
Debit
USDC
Matic
+5 more

Learn More

DTX Exchange ($DTX)

Upcoming $1 million giveaway for presale participants
Earn up to 15% when you take part in the presale
Gain access to premium features like advanced analytics

Project Launched

April 2024

Purchase Methods

Bitcoin
BNB
DAI
Debit
ETH
SOL
USDC
USDT
+5 more

Learn More

Race to a Billion

State-of-the-art crypto project allowing users to predict F1 racing outcomes to earn rewards.
Early presale investors can stake-to-earn tokens with dynamic rewards currently over 6,800% p/a.
40% of total supply (2.5Bn) is allocated to the presale, with over $140k raised already.

Project Launched

June 2024

Purchase Methods

BNB
Debit
ETH
USDT
+1 more

Learn More

The Best Altcoins to Invest in Shortlisted

Listed below are the 16 best altcoins to invest in for 2024:

Pepe Unchained (PEPU) – Ethereum layer-two meme coin, get 627% staking APY.
The Meme Games (MGMES) – Olympic-themed meme racing game with high staking APY.
WienerAI (WAI) – Hot new AI-based meme token with a high staking APY. Rasied $7 million.
PlayDoge (PLAY) – Play-to-earn altcoin has raised $5.5 million on presale.
ShibaShootout (SHIBASHOOT) – Wild west-themed meme token. Get 17,000% staking APY.
Base Dawgz (DAWGZ) – Multi-chain meme coin has raised over $2.3 million on presale.
Mega Dice Token (DICE) – New CasinoFi altcoin powers a crypto casino. Get daily bonuses and buy NFTs.
99Bitcoins Token (99BTC) – Popular educational platform with high Learn-to-Earn rewards, raised $1.2M.
Sponge V2 ($SPONGE) – Updated version of V1 token, with rewards for early investors.
DOGE2014 (DOGE2014) – Celebrating 10 years since DOGE coin with token rewards distributed over 2 years.
SpacePay (SPY) – Crypto payment protocol token allowing buyers to receive funds in local fiat.
DTX Exchange ($DTX) – No KYC trading platform with upcoming $1 million giveaway for presale buyers.
Race to a Billion – F1 racing crypto project with stake-to-earn tokens for early presale investors.

Our Analysis of the Top Altcoins to Buy Now

Seasoned cryptocurrency investors will typically buy a wide range of altcoins. This will reduce the risks of investing in an altcoin that fails to increase in value. It also increases the odds of choosing an altcoin that generates huge returns.

We have selected the 8 top altcoins for 2024 and each is reviewed in the following sections.

1. Pepe Unchained (PEPU) – Overall Best Layer-Two Ethereum Altcoin

Presale Started: June 2024
Total supply: 8 billion
Network: Ethereum L2
Token type: Meme, stake-to-earn
Purchase Methods: ETH, USDT, Card, BNB

Pepe Unchained ($PEPU) is a new meme coin that has quickly raised over $3 million in its presale. We consider it the best altcoin due to its foundation on Ethereum’s layer-two (L2) blockchain, offering high transaction speeds, low gas fees, and substantial staking rewards.

L2 tokens enhance transaction efficiency and reduce costs, allowing $PEPU holders to earn an annual yield of over 600%. Since the staking mechanism launched, over 255 million tokens have been staked.

With ‘Pepe the Frog’ as its mascot, Pepe Unchained appeals to meme enthusiasts globally while providing real utility. $PEPU has a total supply of 8 billion tokens, with 20% available in the presale

To learn more about the project, go through the Pepe Unchained whitepaper and join the Telegram channel.

Visit Pepe Unchained

2. The Meme Games (MGMES) – Olympic-themed Meme Racing Game with High Staking APY

Presale Started: July 2024
Total supply: 2.024 billion
Network: Ethereum L2
Token type: Meme, stake-to-earn
Purchase Methods: ETH, USDT, Card, BNB

The Meme Games ($MGMES) is a promising altcoin that combines memes with Olympic-style competitions. By purchasing $MGMES tokens, you can participate in games to earn additional tokens.

Token holders choose from five famous meme characters like Pepe or Doge to compete in a 169m virtual race. Winners receive a 25% token bonus. The race is random, giving everyone a fair chance to win.

The Meme Games presale quickly raised over $120K within 24 hours. Staking $MGMES can earn you up to 4,000% APY, although this rate will decrease as more investors join the staking pool.

Interested buyers can refer to the Meme Games whitepaper to know more about the platform’s features. They can also join the Meme Games Telegram account and follow it on X (Twitter) for the latest news and updates.

Visit The Meme Games

3. WienerAI (WAI) – Hot New AI-based Meme Token With a High Staking APY. Rasied $7 Million

Presale Started: April 2024
Total supply: 69 billion
Tokens available in presale: 20.7 billion
Blockchain: Ethereum
Token type: Meme coin, ERC-20
Purchase Methods: BNB, ETH, MATIC and USDT

WienerAI ($WAI) is a promising new meme coin blending AI and meme culture. Created by a futuristic mad scientist, it combines AI intelligence with the spirit of a wiener dog, designed to evolve with the latest technologies. Early buyers can also stake their tokens to earn over 161% APY.

The project aims to build a loyal “Sausage Army” by offering generous community rewards and running a global marketing campaign.

Per the WienerAI whitepaper, the project has a supply cap of 69 billion tokens. These tokens are distributed in a community-focused manner, with 20% set aside for staking rewards and 30% set aside for early buyers in the presale.

Buyers can enter WienerAI’s Telegram group and enter its X (Twitter) channel for the latest updates.

Visit WienerAI

4. PlayDoge (PLAY) – Play-to-Earn Altcoin, Over $5.5 Million Raised in Presale

Presale Started: May 2024
Tokens available in presale: 4,700,000,000
Total supply: 9,400,000,000
Blockchain: Binance Smart Chain (BNB)
Token type: BRC-20
Purchase Methods: BNB, ETH, USDT

PlayDoge merges the Doge meme with a Tamagotchi-inspired play-to-earn (P2E) mobile game, allowing users to care for a virtual pet and earn $PLAY tokens.

Since its presale launch, PlayDoge has raised over $5.5 million. The total token supply is 9.4 billion, with 50% for presale, 12.5% each for marketing and development, 11.5% for liquidity, 7.5% for community rewards, and 6% for staking.

PlayDoge offers impressive staking rewards, with an APY of over 80% on the ETH blockchain and 70% on the BNB chain.

To keep updated on the project, follow PlayDoge on X (Twitter) and join its Telegram channel. This unique combination of gaming and meme culture makes PlayDoge a compelling altcoin investment for 2024.

Visit PlayDoge

5. ShibaShootout (SHIBASHOOT) – Cowboy-Themed Meme Coin Offers Storytelling Rewards and Hosts Lotteries

Presale Started: April 2024
Tokens available in presale: 2,200,000,000
Blockchain: Ethereum
Token type: ERC-20
Purchase Methods: ETH, USDT, BNB, Card
Listing price: $0.000000034853

ShibaShootout ($SHIBASHOOT) is an innovative platform set in the wild west, offering multiple use cases for its native token.

In ‘Campfire Stories’ mode, users can earn $SHIBASHOOT tokens by sharing meme coin experiences. Tokens can also be used to purchase lottery tickets, with a portion of winnings donated to charities.

Players can stake tokens for an APY of up to 17,000% and have voting rights to influence the platform’s future. With multiple earning opportunities, ShibaShootout is poised to be a top altcoin in 2024.

From a total supply of 2.2 billion tokens, 770 million are available in the presale, which has raised over $590K in a few months.

To learn more about the project, read the ShibaShootout whitepaper and join the Telegram channel.

Visit Shiba Shootout

6. Base Dawgz (DAWGZ) – Multi-Chain Doge-Themed Meme Coin, $2.3M Raised

Presale Started: June 2024
Tokens available in presale: 1.69 billion
Total supply: 8.45 billion
Blockchain: Multi-chain
Token type: ERC-20
Purchase Methods: USDT, USDC, BUSD, ETH, BNB, SOL, AVAX

Base Dawgz ($DAWGZ) is a new meme token on the Base blockchain, priced at $0.00581 in its presale, which has raised over $2.3 million.

This top altcoin supports multi-chain compatibility, allowing it to bridge with Ethereum, Solana, Binance, and Avalanche. The total supply is 8.453 billion tokens, with 20% for staking rewards and another 20% in the ongoing presale.

Users can earn $DAWGZ by following Base Dawgz on its X page and creating content. Each post related to Base Dawgz earns token rewards.

Learn more about this cryptocurrency by going through the Base Dawgz whitepaper and joining the Telegram channel.

Visit Base Dawgz

7. Mega Dice Token (DICE) – New CasinoFi Altcoin Offers Free Tokens to Early Investors

Presale Started: April 2024
Total supply: 420 million
Blockchain: Solana
Token type: Casino token
Purchase Methods: ETH, SOL, BNB, USDT

Mega Dice Token ($DICE) is a Solana-based altcoin for the Mega Dice Casino, offering daily bonuses and exclusive access to over 4,500 games.

$DICE can be staked in three pools (10 days, three months, six months) for high yields and daily casino bonuses. In the presale, 35% of the 420 million token supply is available.

In just a few days, the presale has raised over $360K. Early investors receive free tokens through the Early Bird bonus scheme, and an additional 2.25 million tokens will be distributed via airdrops. Tokens can also be used to purchase limited-edition NFTs, providing exclusive gaming access and rewards.

Learn more about this cryptocurrency by reading the Mega Dice Token whitepaper and joining the Telegram channel.

Visit Mega Dice Token

8. 99Bitcoins Token (99BTC) – Popular Educational Platform with high Learn-to-Earn Rewards

Presale Started: April 2024
Tokens available in presale: 10.395 billion
Total supply: 99 billion
Blockchain: Ethereum
Token type: ERC-20
Purchase Methods: ETH, BNB, USDT, Card

99Bitcoins Token ($99BTC) is a new crypto aiming to revolutionize crypto education. The platform, known for its extensive educational content, boasts over 2 million registered users and 700,000 YouTube subscribers.

Users earn $99BTC by completing interactive lessons, quizzes, and tutorials, which can be used for special content and discounts.

99BTC offers high staking rewards, with an APY of over 1,300%. The project plans to switch to the BRC-20 standard, enhancing security and utility, especially after the recent Bitcoin halving. Early supporters will receive an airdrop worth $99K BTC.

Interested buyers can follow 99Bitcoins Token’s X (Twitter) handle and enter its Telegram group to get the latest updates.

Visit 99Bitcoins Token Presale

9. Sponge V2 – Upgraded Meme Coin with up to 258% Annual Yields

Presale Started: December 2023
Total supply: 150 billion
Blockchain: Binance Smart Chain
Token type: ERC-20
Purchase Methods: ETH, USDT, BNB, MATIC, Card

In the summer of 2023, $SPONGE surged in popularity due to its connection to SpongeBob SquarePants, quickly reaching a $100 million market cap.

Although its value later declined, the release of Sponge V2 ($SPONGEV2) aims to revitalize the community. Transitioning to $SPONGEV2 involves withdrawing original $SPONGE stakes and staking them in new V2 contracts, which is irreversible but offers high APYs of up to 258%.

Additionally, Sponge’s upcoming play-to-earn racing game will allow token holders to earn $SPONGE through online competitions. Stay updated on the V2 launch and staking benefits by following Sponge on X, Telegram, and Discord.

Visit Sponge V2

10. Doge2014 (DOGE2014) – High Annual Staking Rewards of up to 28,000%

Presale Started: June 2024
Tokens available in presale: 60 billion
Total supply: 100 billion
Blockchain: Ethereum
Token type: ERC-20
Purchase Methods: ETH, BNB, USDT, Card

Doge2014 ($DOGE2014) is a new doge-themed meme token on the Ethereum blockchain, created to celebrate 10 years since Dogecoin’s launch. Priced at $0.000282 per token during its initial presale—the same as Dogecoin’s 2014 launch price—$DOGE2014 aims to attract high-risk investors who missed out on the Dogecoin bull run.

Doge2014 offers annual staking rewards up to 28,000% through its smart contracts. Within days of its presale launch, the project raised over $15K. The strong start and high rewards could help Doge2014 secure a Coinbase listing.

For more information, read the Doge2014 whitepaper and join their Telegram channel.

Visit Doge2014

11. SpacePay (SPY) – Decentralized Payment Protocol Supporting Multiple Digital Assets

Presale Started: May 2024
Tokens available in presale: 6,800,000,000
Total supply: 34 billion
Blockchain: Ethereum
Token type: ERC-20
Purchase Methods: ETH, USDT, USDC, Card

SpacePay ($SPY) is a decentralized payment protocol designed to simplify crypto transactions for everyday retail use via an easy-to-use APK. Customers can pay with various digital assets, and merchants receive funds in local currency. The $SPY token, recently launched on presale, aims to drive platform growth and adoption.

SpacePay will airdrop $SPY tokens monthly to its most active users. Holders can participate in voting programs and access quarterly webinars with the leadership team.

From a total supply of 34 billion tokens, 20% are allocated for the presale, which has already raised over $180K. These features and the successful presale could help secure a Coinbase listing.

For more details, read the SpacePay whitepaper and join the Telegram channel.

Visit SpacePay

12. DTX Exchange ($DTX) – Native Token with Rewards through Staking

Presale Started: April 2024
Tokens available in presale: 225M
Blockchain: Ethereum
Token type: Utility token
Purchase Methods: USDT, ETH, Card

The $DTX token is the native altcoin of the DTX Exchange, designed to enhance the functionality and user experience within the platform. Serving multiple roles, $DTX is integral to the ecosystem’s operations and user engagement.

Holders can stake $DTX tokens to earn rewards, incentivizing long-term holding and contributing to the network’s security and stability. Also, traders can pay transaction fees on the DTX Exchange with $DTX tokens often at a discounted rate.

$DTX tokens are used to reward users for various activities such as providing liquidity, referring new users, and participating in trading competitions.

For more details, check DTX X page and Telegram channel.

Visit DTX Exhange

13. Race to a Billion – Stake $BDJ Tokens to Predict Formula 1 Race Outcomes

Presale Started: June 2024
Tokens available in presale: 2.5 billion
Token type: ERC-20
Purchase Methods: ETH, USDT, BNB, Card

Race to a Billion aims to revolutionize the Formula 1 fan experience by combining blockchain with sports betting. The platform offers F1 prediction markets where users can stake $BDJ tokens to predict race outcomes and compete globally. Key features include prediction markets, an end-of-season jackpot, and decentralized technology for transparency. Early buyers can stake $BDJ tokens for an APY of nearly 6,200%.

The roadmap begins with the ICO launch and expands into additional sports markets. Of the 2.5 billion $BDJ tokens, 40% are available in the presale at a discounted price, with the rest allocated for staking (20%), development (10%), liquidity (10%), marketing (10%), and ecosystem expansion (10%).

Combining F1 racing with blockchain, Race to a Billion targets a significant share of the online sports betting market, projected to reach $65.68 billion by 2029. Follow Race to a Billion on X and join its Telegram channel for updates.

Visit Race to a Billion

What are Altcoins?

Altcoins refer to any cryptocurrency that isn’t Bitcoin. There are thousands of altcoins, ranging from small-cap coins worth a few thousand dollars to those with multi-billion dollar market capitalizations.

Most altcoins do not have their own proprietary blockchain and often operate on networks like Ethereum as ERC20 tokens. However, some top altcoins have their own networks, such as XLM on Stellar and MATIC on Polygon. Each altcoin serves a specific purpose, like ETH for paying Ethereum transaction fees and LINK for deploying Chainlink Oracles.

Altcoins generally offer higher upside potential than Bitcoin, which has already seen most of its growth, with a market cap over $500 billion. In contrast, promising altcoins like Sonik, which may list with a market cap of just over $4 million, offer significant growth potential. Even if Sonik gains 100x, it would still be valued at a fraction of Bitcoin.

Types of Available Altcoins to Buy

Many altcoins offer diverse functionalities and purposes and there are multiple types of. By understanding different types of altcoins, you can make more informed decisions based on investment goals and risk tolerance.

Here are some common types of crypto altcoins:

Stablecoins – Minimum volatility by pegging their value to a reserve asset like the US Dollar.
Utility Tokens – Provide access to a product or service within a blockchain ecosystem.
Security Tokens – Represent ownership in a real-world asset or company, and are subject to federal securities regulations.
Governance Tokens – Grant holders voting rights in a blockchain project’s decision-making processes.
Meme Coins – Originating as internet jokes or memes, these coins often rely on community engagement and social media buzz.
Privacy Coins – Focus on providing enhanced privacy features for transactions.
Payment Tokens – Intended to be used as a digital currency for buying goods and services.
Exchange Tokens – Issued by cryptocurrency exchanges, often used to pay for trading fees or other exchange-related services.
DeFi Tokens – Power decentralized finance platforms, offering services like lending, borrowing, and trading without intermediaries.

What are the Benefits of Investing in Altcoins?

Let’s explore some of the main benefits of investing in altcoins in 2024.

Higher Growth Potential

We mentioned above that altcoins have a much higher growth potential than Bitcoin. Let’s elaborate on this concept so that you have a firm grasp of the fundamentals.

The earliest price point offered by CoinMarketCap on Bitcoin is $0.06183, achieved in July 2011.
Today, Bitcoin is trading just over $64K.
So in 13 years of trading, Bitcoin has increased by over 103 million percent.
And consequently, Bitcoin is already a mega-cap cryptocurrency – valued at over $500 billion.
This means that for Bitcoin to grow by say 20x, it would need to hit a valuation of $10 trillion.
While this isn’t necessarily impossible, it could take many years for the required liquidity to enter the market.

Some Altcoins Have Produced Unprecedented Returns

Some of the most popular altcoins to invest in have produced unprecedented returns in recent years. While the markets are volatile, those investing from the ground up have generally done well. In other words, altcoins can yield attractive gains for those holding onto their tokens in the long run.

Let’s look at some notable examples.

When Polygon was launched in September 2019, it was priced at $0.004418.
Let’s suppose an investor bought $1,000 worth of Polygon at the time.
Polygon’s all-time high of $2.92 was hit in December 2021.
Compared to its original listing price, that’s growth of just under 66,000%.
So, on an initial investment of $1,000, this would have been worth $660,000 at its peak.

In another example:

When Solana was launched in 2020, it was worth just $0.9511.
At its peak in November 2021, Solana was priced at $260.06.
This means that early investors secured gains of over 27,000%
So, a $1,000 investment would have been worth almost $270,000 at its peak

All that being said, not all altcoins will generate returns like Polygon or Solana. Some altcoins will lose value and never recover. This is just the risk that cryptocurrencies in general present.

Altcoin Can Grow Exponentially in the Short-Term

In the section above, we gave some examples of how long-term altcoin investments can yield notable results. However, altcoins can also produce significant gains in a much shorter period of time. This is especially the case with meme coins and newly launched presales.

For example:

Pepe was launched on April 19th, 2023, at $0.00000006036
On May 5th, 2023, Pepe was priced at $0.000004354
This means that within three weeks of launching, Pepe increased by over 7,000%
That’s gains of $70,000 for every $1,000 invested
It would take many centuries for the stock markets to replicate similar gains

However, the key point is that after hitting all-time highs of $0.000004354, Pepe quickly declined in value. Today, it’s 80% below its peak valuation.

As such, the best altcoins to buy for short-term gains will often rise and fall at rapid speeds. So, if you’re planning to adopt a short-term trading strategy, it’s wise to actively monitor the markets and set sensible stop-losses.

Most Altcoins are Worth a Small Fraction of All-Time Highs

Many of the best altcoins to watch hit all-time highs during the prior bull market – which peaked in late 2021. After peaking, the broader markets went on a prolonged decline. This means that most altcoins are worth a small fraction of their all-time highs.

If you’re new to the altcoin market, this is actually a good thing. After all, you’ll be able to buy a portfolio of altcoins at a huge discount.

Based on current prices and all-time highs, check out the discounts being offered by the following altcoins:

Stellar: 87%
Uniswap: 90%
Chainlink: 90%
Ethereum: 65%
KuCoin Token: 85%
Aave: 90%
Solana: 90%
Polygon: 80%

These price reductions are unprecedented, especially considering the quality of each project. But, that’s just the nature of the altcoin industry – it’s extremely volatile.

Nonetheless, many investors buy discounted altcoins hoping that they will return to their prior all-time highs. Take Uniswap, Chainlink, and Solana as examples. Considering they are trading at discounts of 90%, a return to prior highs would yield growth of 900%, or 10x.

There is no knowing which altcoins will recover their former all-time highs, if any. So the best approach is to invest in a wide range of altcoins. Even if just one altcoin makes a full recovery, this could still generate sizable gains.

Altcoins Enable You to Diversify

With so many altcoins in the market, diversification has never been easier. This could give you the best chance possible of choosing an altcoin that goes on to generate gains of 100x or more. Diversification also enables you to reduce the risks of significant loss.

For example, let’s say that you have $1,000 to invest in altcoins.
You choose 10 of the best altcoins to buy, allocating $100 to each.
One of your altcoin investments turns out to be a scam, leaving you with worthless tokens. This means you have lost $100.
In contrast, one of your altcoin investments grows by 30x – returning $3,000.
This means that even if the remaining altcoins in your portfolio went to zero, you would still make considerable gains.

To create a diversified portfolio, consider many different types of altcoins.

For example, you could allocate 50% of our altcoin portfolio to large-cap altcoins, such as Ethereum and Solana. You can then allocate 30% of the portfolio to mid-caps, such as KuCoin Token and Aave. The remaining 20% could be allocated to small and micro-cap altcoins, like Wall Street Memes, Sonik, and Launchpad XYZ.

Staking Rewards and Other Income Earning Opportunities

Unlike Bitcoin, the best altcoins to buy enable you to earn income – this is in addition to price appreciation – through a feature called staking.

For example, Wall Street Memes is currently offering staking rewards at an APY of 84%. Although the APY will fluctuate, here’s an example of how it works:

Suppose you invest $1,000 into the Wall Street Memes presale at the current price of $0.0337 per token.
This will get you 29,673 tokens.
Let’s say you deposit the WSM tokens into the Wall Street Memes staking pool.
On the assumption the APY remains at 84%, you will earn 24,925 additional WSM tokens after one year of staking.
This is in addition to your original deposit of 29,673 tokens.

Staking is somewhat similar to buying dividend stocks. It’s a great way to increase your earnings while holding onto your altcoins long-term.

In addition, some altcoins can be deposited into crypto savings accounts. This follows a similar principle to staking, but your tokens will likely be lent out to borrowers. In contrast, staking rewards are usually provided directly by the altcoin project – as an incentive to hold long-term.

How Many Altcoins Are in Existence?

It remains to be seen exactly how many altcoins there are in the market. Cryptocurrencies do not trade in centralized markets like stocks – so there isn’t a verifiable database that we can use.

That being said, CoinMarketCap is currently offering pricing data on over 9,300 altcoins. The actual figure is almost certain to be significantly higher.
For instance, CoinMarketCap was previously offering pricing data on over 23,000 altcoins. This suggests that a huge chunk of altcoins have since been delisted.
This will happen if the altcoin project is deemed ‘dormant’. For example, if it isn’t attracting any trading volume or if the project is simply a scam.

On DexTools – which tracks cryptocurrencies listed on decentralized exchanges, there are over 2.1 million altcoins listed. An overwhelming majority of these will be inactive altcoins with no trading volume or liquidity.

How to Choose the Best Altcoins to Invest In

We mentioned above that there are thousands of altcoins to invest in. And over 2.1 million if using figures provided by DexTools. Either way, this means that choosing the best altcoins to buy can be a difficult task – especially for newbies.

Below, we discuss some of the best practices that you can take when building a diversified portfolio of altcoins.

Look for Top-Quality Altcoins on CoinMarketCap Trading at Discounts

Some of the best altcoins to buy are established cryptocurrencies currently trading at bear market discounts. To find these, visit CoinMarketCap and look at mid-to-large altcoins with solid use cases, such as Ethereum, Uniswap, Solana, Polygon, and Chainlink.

On CoinMarketCap, check the ‘All-Time High’ section on the left-hand side of an altcoin’s dashboard. This shows the altcoin’s peak price, the date it was achieved, and the percentage decline from this high based on current prices. For example, Polygon is trading over 91% below its all-time high, which was reached in November 2021, indicating the decline is likely due to broader market conditions rather than specific issues with Polygon.

Explore Trending Coins on DexTools

DexTools is also useful for finding the best altcoins to buy, especially smaller-cap altcoins on decentralized exchanges like Uniswap and PancakeSwap. It offers more features and customization than CoinMarketCap.

For short-term traders, start by checking the ‘Daily Gainers’ section to see altcoins with the biggest gains in the past 24 hours. Click ‘More’ to view the full list, but be cautious of altcoins with very small trading volumes as they can be extremely volatile. Use the ‘Custom Filters’ to set a minimum trading volume of $1 million.

Filtering by market capitalization can also help, setting a minimum of $1 million to avoid excessive volatility.

Check the ‘Hot Pairs’ section for popular altcoin pairs, which defaults to ERC20 tokens but can be adjusted to other networks like Binance Smart Chain, Polygon, Solana, or Arbitrum. This section shows the most visited altcoin pairs in the past 24 hours but doesn’t offer custom filters.

YouTube Analysts With Proven Track Records

YouTube is a great resource for finding the best altcoins to buy. Reputable analysts cover both large-cap altcoins through technical analysis and fundamentals like news developments.

For example, Altcoin Daily, with over 1.32 million subscribers, covers trending altcoins such as Ethereum, Polygon, XRP, and Cardano.

For micro-cap altcoins and presales, Jacob Bury’s channel is highly recommended. Despite having just over 21,000 subscribers, Bury has a strong track record. He specializes in presales expected to grow by at least 10x after listing. Bury has recommended Wall Street Memes, which has raised over $25 million, and previously tipped Tamadoge, yielding early investors over 20x returns.

Risks to Consider Before Buying Altcoins

Investors should ensure they understand the risks of altcoins before investing in any capital.

The main risks to consider are discussed below:

Your Altcoin Investment Can Decline and Never Recover

Investing in altcoins carries the risk of losing some or all of your investment, so never invest more than you can afford to lose.

For instance, an investor who bought XRP at its all-time high of $3.84 in early 2018 would see their investment significantly devalued. Over five years later, amid a prolonged court battle with the US SEC, XRP trades 86% lower, despite a recent price boost. A $1,000 investment back then would now be worth just $140.

This is particularly concerning given that many altcoins reached new all-time highs between 2020-2021, while XRP remained far below its peak.

Be Prepared for Extreme Volatility

Altcoins are volatile asset classes. They can rise and fall in rapid pricing swings. As an altcoin investor, you should be prepared for this.

For example, you might wake up one morning to see that your altcoin portfolio is up 10%. The following day, you could be looking at losses of 30% – this is just the nature of trading altcoins.

This is why it’s important to set realistic goals, understand your own risk tolerance and have a clear exit strategy. For example, suppose you buy Solana because it’s trading at a 90% discount from its all-time high.

Consider what gains you would be willing to take, or what losses you would accept. While nobody can predict the markets, smart investors always have a plan.

Scams and Wallet Hacks

Consider risks both inside and outside the altcoin trading markets. Investing in new altcoins without a solid track record requires due diligence, as some may be scams. Projects might make bold promises but have no intention of delivering, aiming to extract as much capital as possible before disappearing.

A ‘rugpull’ scam operates similarly, often through a presale. After raising funds, the project vanishes, leaving investors with worthless altcoins.

Additionally, be aware of wallet hacks, which can occur if you misplace your private keys or click on malware links. Wallet hacks are increasingly common, so it’s crucial to know how to keep your wallet and altcoins safe.

Where to Buy Altcoins and When to Trade Them

Navigating the altcoin market successfully involves knowing where to purchase these digital assets and the optimal times to trade them. Choosing the right platform is crucial for security and access to a wide range of altcoins. Additionally, understanding market trends and trading strategies can help maximize your investment returns.

Where to Buy Altcoins?

The best place to buy altcoins will depend on where the tokens are listed.
For example, established altcoins like Polygon and Ethereum can be purchased on just about any crypto exchange.
New and small-cap altcoins might only trade on decentralized exchanges, such as Uniswap (ERC20) and PancakeSwap (BEP20).
If you’re investing in an altcoin presale, then you will be purchasing the tokens directly from the project’s website. This is usually in exchange for an established altcoin, such as Ethereum.

When to Sell an Altcoin Investment?

Knowing when to sell an altcoin investment can be challenging. Not only during rising markets but when prices are declining too.

The best course of action is to set clear exit strategies before buying an altcoin
For example, are you planning to hold the altcoin long-term, or are you looking to execute a short-term position? This can help you assess a suitable target price.
Additionally, if your altcoin investment continues to increase in value, it’s worth cashing some of your profits out. This will ensure that you make a return even if prices begin to decline.
On the flip side, it’s also wise to set up stop-loss orders when buying an altcoin. For example, you might consider cutting your losses if the altcoin declines by 20%.
Just as important is to keep tabs on the project itself, in terms of roadmap targets and news developments. It’s also a good idea to assess wider sentiment on the altcoins markets.

Where to Find Altcoin Price Predictions?

The internet is packed with altcoin price predictions – usually published on cryptocurrency-related websites
However, you should tread carefully when reviewing somebody else’s predictions. After all, they’re subjective to the individual.
For instance, you might find an analyst that tips the next big altcoin to explode. While another analyst might suggest short-selling the exact same altcoin.
Consider doing your own analysis and predictions. This will enable you to invest in altcoins with your eyes wide open.

How We Review and Analyze Altcoins

Our cryptocurrency analysis and review process is thorough and unbiased, involving a multi-faceted approach to ensure reliable evaluations. We assess each crypto based on various criteria to provide comprehensive reviews for crypto enthusiasts.

Key criteria include:

Market Potential
Whitepaper and Documentation
Tokenomics
Trading Volume and Liquidity
Price Stability
Legal Standing and Risk Assessment
Security and Past Breaches
Community Engagement and Public Perception

Conclusion

Altcoins offer a great opportunity to target sizable gains, both in the short and long-term. Even in the midst of a bear market, some altcoins have grown by thousands of percentage points. Still wondering what altcoin to buy?

Currently, Pepe Unchained ($PEPU) is one of the top altcoins. This meme coin is built on Ethereum’s layer-two blockchain, and offers high staking rewards to $PEPU token holders.