Which Are the Best Altcoins To Invest in August 2024?

In our analysis of the best altcoins to invest in, we’ve carefully selected each based on their market capitalization, a key indicator of their stability and potential in the cryptocurrency market. Market capitalization is calculated by multiplying the current price of the altcoin by its total circulating supply. This metric is crucial as it provides insight into both the size and the market dominance of the altcoin, reflecting investor confidence and its track record in the crypto ecosystem.

Altcoins with higher market caps, like Ethereum and Solana, are often considered safer investments as they are more established and have a proven history of resilience in the market. We’ve mentioned the exact market cap for each of these coins within their description. These altcoins offer a balance of growth potential and stability, making them attractive for both new and experienced investors. On top of that, these altcoins have shown the ability to maintain their value and grow steadily over time despite the inherent volatility of the cryptocurrency market. The best performing altcoin is Ethereum, which has surged over 721,000% since its launch and has been consistently present in all our cryptocurrency tops.

Regarding our recommendation of specific crypto platforms like Coinbase, Kraken, YouHodler, and Wirex, our choices are grounded in their unique features and high trading volume. For Coinbase and OKX, 24h trading volume exceeds $3 billion, which is essential for executing large-volume trades.

• All of the chosen crypto exchanges and platforms:

• Are celebrated for their stringent security measures,

• Offer two-factor authentication and user-friendly interfaces.

• Are particularly suitable for newcomers to the crypto market,

• Offer a wide range of cryptocurrencies and educational resources that make the investment journey more accessible and secure.

Additionally, some of these platforms also offer a crypto credit card, such as Coinbase and Wirex, which allow their users to seamlessly access and spend their crypto assets. By choosing to invest in crypto using these platforms, you’ll get access to a comprehensive set of tools and options.

In the latter half of this guide, we point to two cold storage wallets with which users can store their altcoins safely and securely. Both Ledger and Trezor have been recommended thanks to their support for multiple cryptos and reputations in the market as leading hardware options. Ledger devices benefit from a Secure Element chip which protects private keys, utilize pin codes and offer effective protection against malware and software attacks. Meanwhile, Trezor devices protect user privacy by using Tor in Trezor Suite, offer sign and verify functions and allow users to create self-destruct wipe codes.

Learn more about BeInCrypto’s verification methodology here.

Ethereum is one of the leading cryptocurrencies on the market in 2024. The Ethereum network supports smart contracts, which are self-executing agreements that can automate tasks without intermediaries. It also hosts a huge range of DApps and NFTs. Ethereum has a $471 billion market cap, and Ether’s price has surged over 1,264,416.13% since its July 2014 ICO.

Coinbase stands out as a favorable choice for purchasing Ethereum on the spot market. The exchange is known for its narrow bid-ask spreads, which are as low as 0.02%, contributing to more economical transactions. With trading fees varying between 0.05% and 0.60%, Coinbase caters to a wide range of trading preferences. Additionally, the platform’s versatility is enhanced by its support for various payment options, including cryptocurrencies, wire transfers, and debit cards, offering greater convenience to its users.

Binance offers a comprehensive suite of financial services, including spot and futures trading, staking, lending, and its blockchain, Binance Smart Chain (BSC), which supports smart contracts and decentralized applications (DApps). The platform is known for supporting a wide range of cryptocurrencies and offering a competitive fee structure. Binance also developed an ecosystem around its Binance Coin (BNB), which provides transaction fee discounts and other utilities within the platform. The exchange prioritizes security with measures like the Secure Asset Fund for Users (SAFU) to protect user assets, reinforcing its strong position in the global crypto market.

The YouHodler Wallet offers a reliable and multifunctional solution for ETH storage, featuring a notable 4% interest rate on Ethereum deposits. It incorporates Ledger Vault technology to enhance its security measures and provides insurance to safeguard against potential risks.

This wallet is compatible with a variety of digital currencies, including Ethereum, and is equipped with functionalities such as currency exchange and an intuitive interface for ease of use. Operating under the regulatory frameworks of the EU and Switzerland, the wallet prioritizes compliance and user security.

Binance coin, or BNB, is a key element of the major crypto exchange, and it offers a range of perks to those holding it on Binance. BNB boasts a $90 billion market cap. It’s transformed from a trading tool into a versatile asset, with a remarkable growth of 401,073.33% since its ICO in July 2017.

OKX is recognized as the world’s fifth-largest exchange in the realm of crypto spot markets, gauged by its trading volume. The platform boasts an extensive selection of over 320 cryptocurrencies and offers an appealing tiered fee structure. It records a substantial trading volume of $4,957,354,294. The bid-ask spread on OKX is competitively set at 0.04%, and it maintains trading fees ranging from 0.08% to 0.10%. For added convenience, OKX supports a variety of payment methods, including cryptocurrency, bank transfers, and bank cards.

Founded in 2011, Kraken was one of the first cryptocurrency exchanges to prioritize security and regulatory compliance. Based in San Francisco, Kraken offers various services, including spot and futures trading, staking, and margin trading. The platform is renowned for its rigorous security measures, including cold storage for most user funds and regular audits. Kraken supports numerous cryptos and provides advanced trading tools, making it a preferred choice for novice and experienced traders. The exchange also supports fiat currency, enabling seamless deposits and withdrawals in various currencies.

The YouHodler Wallet, known for its strong security measures including Ledger Vault technology and insurance coverage against risks, is an excellent choice for storing BNB. This wallet supports a wide range of digital currencies and features convenient currency exchange services.

Designed to be user-friendly, it caters to all levels of experience and operates within the regulatory framework of the E.U., ensuring a secure and compliant environment. Additionally, it offers an attractive annual percentage rate (APR) of 5.5% on BNB holdings.

Solana, valued at $74.78 billion in the market, is a high-speed blockchain that empowers decentralized applications and finance. Its hybrid consensus system enhances efficiency and security. SOL was launched during an ICO in March 2020 with a price of $0.22. Since then, SOL’s price has soared by an impressive 76,572.73%.

Kraken is a prime choice for a range of traders, from novices to experienced individuals. The platform offers a diverse portfolio with over 210 digital currencies, complemented by competitive trading fees.

It’s known for accommodating various deposit methods, including bank transfers and mobile payments, and supports transactions in multiple fiat currencies, making it attractive to a worldwide audience. The exchange features a narrow bid-ask spread of 0.02% and maintains a maker/taker fee structure of 0.16% and 0.26%, respectively. Furthermore, Kraken has marked a significant trading volume for SOL, amounting to $1.2 billion.

Founded in 2017 and based in Seychelles, OKX is recognized as the world’s third-largest crypto derivatives exchange when measuring by open interest. The exchange features a bid-ask spread of 0.04% and trading fees that range between 0.08% and 0.10%.

OKX is known for offering options like up to 100x leverage on futures trading and a minimal account requirement of just $10, making it a compelling choice for a global audience. However, it’s important to note that OKX’s services are not available in North America. Payment methods include crypto, bank transfer, and card.

Renowned for its user-friendly design, the Coinbase Wallet offers seamless transfer capabilities from the prominent U.S.-based Coinbase exchange. It supports a wide array of over 100 cryptocurrencies, including BTC and various ERC20 tokens. The platform is characterized by a low bid-ask spread of 0.02% and offers trading fees ranging from 0.05% to 0.60%, catering to a diverse range of trading preferences.

XRP is the native coin of Ripple, a leading digital technology and payment processing firm. XRP has a market cap of $36.86 billion, which makes it one of the best altcoins to invest in. It excels in facilitating smooth currency exchanges. Initially, XRP was listed for $0.006 at launch in 2012, and it has now surged by 11,066.67%. 

Founded in 2011 by Brian Armstrong, Coinbase is a U.S. based remote first crypto brokerage. Coinbase caters to both rookie and advanced traders, tailoring separate experiences for both, while still maintaining a cohesive and user-friendly platform. The trading volume on Coinbase is $3,218,310,599. RP is valued at 83.80% below its all time high of $3.84. Moreover, the bid-ask spread is 0.02%, while the trading fee is 0.05% to 0.60% .

Known for its extensive support of various cryptocurrencies and a competitive fee structure, Binance also offers a strong emphasis on security. the CEX employs measures like the Secure Asset Fund for Users (SAFU) to protect user assets, reinforcing its dominant position in the global crypto market.

YouHodler is one of the oldest exchanges still standing that offers crypto loans, starting out in 2019. ON the platform, you can earn 4% APR on your crypto and take out a loan for 0.0178% daily interest .

Cardano’s native cryptocurrency, ADA, boasts a market cap of $27.25 billion. The chain boasts an eco-friendly proof-of-stake mechanism, emphasizing sustainability and scalability. Cardano also supports smart contracts and decentralized applications. Since Cardano’s ICO in September 2017, ADA’s price has surged by an impressive 3,700%. It’s worth considering as one of the best altcoins to invest in.

Coinbase is the most popular U.S. based exchange. Founded in 2011, the platform has both a brokerage and an exchange to tailor to different sets of users. The trading volume is $3,218,310,599, the spread is 0.02%, and trading fees are 0.05% to 0.60% . Payment methods include crypto, bank transfer, and bank cards.

Huobi, founded by Leon Li in 2013, has become a major player in the cryptocurrency exchange market. Headquartered in Seychelles, Huobi supports a comprehensive range of services, including spot and margin trading, futures, staking, and lending. The platform provides access to over 703 coins and 863 trading pairs, making it a versatile option for traders.

The platform offers a secure and compliant environment for buying, trading, and holding cryptocurrency. Users can trade ADA against various pairs and benefit from advanced trading features and robust security measures, including cold storage and real-time monitoring. The platform’s user-friendly interface and comprehensive support make it suitable for novice and experienced traders looking to invest in ADA and other digital assets.

YouHodler is known for its altcoin interest bearing products. Customers that deposit ADA into YouHodler can earn up to 5.5% APR.

Avalanche, an emerging player in the crypto space, currently holds a market cap of $20.39 billion. Its standout feature is its high-performance consensus protocol, allowing for rapid transactions and scalability. Avalanche is one of the best altcoins to invest in, having witnessed a substantial 10,710% price increase since its July 2020 ICO.

Kraken is one of the oldest exchanges, starting out in 2011 as a Bitcoin exchange. It has since expanded to other altcoins and made significant strides in the industry as one of the first exchanges to publish a proof of reserves. The trading volume for AVAX is $1,243,279,793, the spread is 0.02%, and the maker/taker fees are 0.16% and 0.26% respectively.

Trading Avalanche (AVAX) on Coinbase offers a streamlined and secure experience for novice and experienced traders. Founded in 2012, Coinbase has grown into one of the largest and most reputable cryptocurrency exchanges globally. The platform supports various digital assets, including AVAX, providing users extensive trading options and advanced tools.

Coinbase also offers a user-friendly interface, robust security measures, and compliance with regulatory standards, making it a preferred choice for trading AVAX and other cryptocurrencies​.

YouHodler is known for its interest bearing products and offering loans in crypto and fiat, while allowing multiple crypto assets as collateral. The platform also offers 9.5% APR on AVAX.

Dogecoin, initially conceived as an internet joke in 2013, has evolved to capture the imagination of the crypto community. Today, it commands a market cap of $25.56 billion. Surprisingly, this meme coin has experienced an astonishing price surge of 65,284.62% since its 2013 launch price, making it one of the best altcoins to invest in. 

The U.S. based exchange, Coinbase has a Dogecoin trading volume of $3,218,310,599 . The spread on the platform is 0.02%, while the trading fees is 0.05% to 0.60% . Coinbase accepts bank transfers, crypto, and bank cards.

OKX is a global exchange that supports more than 100 countries and is based in Seychelles. The exchange has a trading volume of $4,426,678,993 for DOGE. The bid-ask spread is 0.02% and the trading fee is 0.05% to 0.60%.

YouHodler offers secured loans together with very high interest rates on cryptocurrency savings. It offers competitive interest rates, with stablecoins up to 12% and altcoins up to 5%. On DOGE, YouHodler offers an APR of up to 3%.

Polkadot is a prominent player in the blockchain space. Its innovation lies in its ability to connect various blockchains, fostering interoperability. With a focus on scalability and security, Polkadot supports the creation of custom blockchains and decentralized applications. Remarkably, DOT’s price has risen by over 3,810.34% since its 2017 ICO.

Kraken is a very prominent U.S. based exchange that offers a more advanced experience for pro traders. The trading volume for DOT is $1,243,279,793 on Kraken. The bid-ask spread is 0.02% and the maker and taker fees are 0.16% and 0.26% respectively.

OKX is based in Seychelles, has offices around the world, and supports more than 100 countries. The trading volume is $4,426,678,993, the bid-ask spread is 0.02%, and the trading fee is 0.04%.

YouHodler offers cloud mining, crypto loans, and interest bearing products for customers. DOT holders can deposit their crypto on YouHodler to earn up to 10% APR.

TRON boasts a market cap of $11.35 billion. With its user-friendly approach and support for decentralized applications (DApps) and smart contracts, TRON has seen a notable price increase of 6,215.79% since its 2017 ICO. This positions TRON as one of the best altcoins to invest in.

Kraken provides a user-centric customer experience, offering both an advanced trading interface and a mobile app to cater to different user’s experiences. The trading volume for TRX is $1,243,279,793, the spread is 0.02%, and the maker/taker fee is 0.16% and 0.26% respectively.

OKX has a trading volume for TRX of $4,426,678,993. The spread is 0.02% and the trading fee is 0.04%

YouHodler offers 7% APR on TRX holdings. It is a popular exchange for those that would like to put their idle assets to work to earn passive income.

Polygon is a top altcoin to invest in with a current market cap of $12.05 billion. Initially built as a layer-2 for Ethereum, it’s now the largest ecosystem to facilitate faster and cheaper transactions while supporting decentralized applications (DApps). Since its 2017 ICO launch, MATIC, its native token, has experienced a significant price surge of 45,907.60%. 

Coinbase is a U.S. regulated exchange which gives it a certain level of safety in the eyes of consumers that would like to purchase MATIC. The trading volume is $3,218,310,599 , the spread is 0.02%, and the trading fee 0.05% to 0.60%.

Trading Polygon (MATIC) on Huobi offers cryptocurrency enthusiasts a robust and secure platform. Huobi’s advanced trading features, strong security measures, and global customer support make it an attractive choice for trading MATIC.

Coinbase is an excellent choice to store your MATIC, as the platform has robust security measures like cold storage to protect customers assets. You can earn 3.21% APR on your MATIC at Coinbase.

Chainlink is a prominent player in the cryptocurrency space and one of the best altcoins to invest in. LINK holds a market cap of $12.33 billion. Its key strength lies in the decentralized Oracle network, which enables data-driven smart contracts. Since its 2017 ICO launch, LINK, Chainlink’s native crypto, has witnessed impressive growth, with a price increase of 18,990.91%. 

Kraken is considered a secure exchange, being one of the first to offer a proof of reserve for customer assurances. The trading volume for LINK on Kraken is $1,243,279,793 , the spread is 0.02%, the maker fee is 0.16%, and the taker fee is 0.26%.

Trading Chainlink (LINK) on Binance provides access to a highly liquid and active market. The 24-hour trading volume for LINK on Binance is approximately $851.31 million. This significant volume indicates robust market activity, ensuring that traders can execute large transactions efficiently with minimal price slippage.

YouHodler is a top selection out of all exchanges for storing your assets, as it offers 3.7% APR on your MATIC holdings. Moreover, it is regulated in the E.U. and Switzerland, which gives customers more assurances of security.

Toncoin (TON) is a rapidly evolving blockchain network that emphasizes speed, security, and scalability. Its design caters to various applications, including smart contracts, decentralized applications (DApps), and NFTs. With its $7.54 billion market cap, TON may be one of the best altcoins to invest in right now. Since its 2018 ICO, the price surged by 16076.47%.

OKX offers a safe and secure platform for users looking to buy TON. Investors can cannot seamlessly with the OKX Web3 Wallet, and be confident in using the CEX thanks to its solid customer service and regular publication of proof-of-reserves.

Trading Toncoin (TON) on Bybit provides access to a highly liquid and active market. The 24-hour trading volume for TON on Bybit is approximately $451.87 million. This substantial volume indicates robust market activity, ensuring traders can execute large transactions efficiently with minimal price slippage.

MyTonWallet is a top crypto wallet designed for TON token management. The wallet offers staking capabilities and supports a number of popular browsers with its extension.

Internet Computer (ICP) is a unique blockchain project with a market cap of $6.36 billion. It aims to extend the functionality of the internet, providing a decentralized platform for smart contracts and new internet services. Since its debut, ICP has drawn attention with its ambitious goal of revolutionizing the digital landscape, marking a notable increase in valuation. The asset’s price has surged by about 47,133.33% since its ICO in May 2021. 

American-based Kraken is a well-known cryptocurrency exchange that offers reasonable rates for trading over 210 different digital currencies. On Kraken, ICP has a trading volume of $1,243,279,793, a spread of 0.02%, a maker fee of 0.16%, and a 0.26% taker fee.

Based on trading volume, OKX is ranked as the fifth-largest global exchange for cryptocurrency spot markets. The trading volume for ICP is $3,899,990,778 , the spread is 0.04%, and the trading fee is 0.08% to 0.10% .

Ledger is ideal for storing ICP because it provides top-notch security by keeping your private keys offline, making it immune to online hacking attempts. The integration of ICP with the Ledger Live app allows for seamless management of your assets.