13 Best Altcoins To Invest In March 2024 (2024)

As the crypto market heats up with bull run anticipation, many of us are looking for the best altcoins to invest in March 2024. This guide dives into the top-performing altcoins and ERC-20 tokens on the market. We’ll also share some savvy investment strategies to enhance your crypto portfolio, backed by thorough altcoin research and essential risk assessment. So, whether you’re a seasoned investor or new to the game, get ready to discover the dynamic trends and possibilities that these digital assets offer.

Most popular platforms to buy Altcoins

Coinbase

13 Best Altcoins To Invest In March 2024 (1)

Explore Coinbase

on Coinbase’s official website

Cryptos250+

Trading fees 0.00%-0.001%

Bonus$10 for U.S. users

YouHodler

13 Best Altcoins To Invest In March 2024 (2)

Explore YouHodler

on YouHodler’s official website

Cryptos50+

Trading fees0.0178%-0.0712%

Limited time offerup to $10,000 referal bonus

OKX

13 Best Altcoins To Invest In March 2024 (3)

Explore OKX

on OKX’s official website

Cryptos300+

Trading feesMaker fee. 0.080%. 0.075% ; Taker fee. 0.100%

Limited time offerGuaranteed airdrop up to $100

Our methodology for choosing where to buy, trade, and store the top altcoins to invest in March 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, KuCoin, 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.

In this guide:

  • Our methodology for choosing where to buy, trade, and store the top altcoins to invest in March 2024
  • Best altcoins to invest in March 2024
  • 1. Ethereum (ETH)
  • 2. Binance Coin (BNB)
  • 3. Solana (SOL)
  • 4. XRP (XRP)
  • 5. Cardano (ADA)
  • 6. Avalanche (AVAX)
  • 7. Dogecoin (DOGE)
  • 8. Polkadot (DOT)
  • 9. Tron (TRX)
  • 10. Polygon (MATIC)
  • 11. Chainlink (LINK)
  • 12. Toncoin (TON)
  • 13. Internet Computer (ICP)
  • What are altcoins?
  • What to consider when choosing altcoins?
  • How do you assess and manage risk when investing in altcoins?
  • How to buy and store altcoins
  • Is investing in altcoins a good decision?
  • Are altcoin investments taxable?
  • Comparison chart: Best altcoins to invest in
  • What are the best altcoins for you to invest in?
  • Frequently asked questions

Best altcoins to invest in March 2024

1. Ethereum (ETH)

Price: $2,660

Where to buy

Coinbase

Where to trade

Kucoin

Where to store

YouHodler

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 $267 billion market cap, and Ether’s price has surged over 721,835% since its July 2014 ICO.

Ethereum (ETH) Price Prediction

Coinbase stands out as a favorable choice for purchasing Ethereum on the spot market, characterized by a substantial Ethereum trading volume, recorded at $856 million. 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, thereby offering greater convenience to its users.

Buy Eth now

KuCoin emerges as a commendable choice for engaging in ETH perpetual contracts trading. It boasts a notable Ethereum trading volume of $807 million and exhibits a significant open interest, which stands at $164 million. The exchange offers a minimal basis rate of just bid-ask spread of just 0.01%, along with a trading fee of 0.1%.

Trade Eth now

The YouHodler Wallet stands out as 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.

Store Eth now

Read more: How to Buy Ethereum (ETH) and Everything You Need to Know

2. Binance Coin (BNB)

Price: $312.11

Where to buy

OKX

Where to trade

Kucoin

Where to store

YouHodler

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 $48.7 billion market cap. It’s transformed from a trading tool into a versatile asset, with a remarkable growth of 320,899% since its ICO in July 2017.

Binance Coin (BNB) Price Prediction

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 $3,899,990,778.

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.

Buy BNB now

Since its inception in 2017, KuCoin has emerged as a notable player in the cryptocurrency exchange market, boasting an impressive array of over 820 different cryptocurrencies. The platform is particularly renowned for its extensive variety of altcoins. KuCoin distinguishes itself with advanced trading features and options for futures trading.

It is also known for its low trading fees, set at a competitive rate of just 0.10%, and an exceptionally tight bid-ask spread of 0.01%. The exchange accommodates a range of payment methods, including cryptocurrencies, bank transfers, and bank card transactions, catering to a diverse user base.

Trade BNB now

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, BNB included, 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 EU, ensuring a secure and compliant environment. Additionally, it offers an attractive annual percentage rate (APR) of 5.5% on BNB holdings.

Store BNB now

Read more: How To Buy BNB and Everything You Need To Know

Solana, valued at $44.24 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 46,263%.

Solana (SOL) Price prediction

Kraken, renowned for its robust security, 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.

Buy SOL now

Founded in 2017 and based in Seychelles, OKX is recognized as the world’s third-largest exchange in the realm of crypto derivatives trading, particularly 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.

Trade SOL now

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.

Store SOL now

4. XRP (XRP)

Price: $0.60

Where to buy

Coinbase

Where to trade

Kucoin

Where to store

YouHodler

XRP is the native coin of Ripple, a leading digital technology and payment processing firm. XRP has a market cap of $31.78 billion, which makes it one of the best altcoins to invest in. It excels in facilitating smooth currency exchanges. Initially, XRP was listed for $0.01 at launch in 2012, and it has now surged by 5,772%.

XRP (XRP) Price prediction

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. Moreover, the bid-ask spread is 0.02%, while the trading fee is 0.05% to 0.60% .

Buy XRP now

Since its inception in 2017, Kucoin has stood out as an excellent choice for traders seeking to purchase cryptocurrency on a crypto native and user-centric platform. The exchange is know for its altcoin selection, hosting over 800 coins and tokens. The trading volume for XRP is $1,316,205,585, the spread is 0.02%, and the trading fee is 0.05% to 0.60% .

Trade XRP now

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 .

Store XRP now

Read more: How To Buy XRP and Everything You Need To Know

5. Cardano (ADA)

Price: $0.57

Where to buy

Coinbase

Where to trade

Kucoin

Where to store

YouHodler

Cardano’s native cryptocurrency, ADA, boasts a market cap of $20.35 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 23,862%. 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.

Buy ADA now

The trading volume for ADA on Kucoin is $1,316,205,585 , making it extremely favorable to get in and out of positions at favorable prices close to the market rate. The bid-ask spread is 0.02% and the trading fee is 0.1% Acceptable payment methods are crypto, bank transfer, and bank cards.

Trade ADA now

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

Store ADA now

Read more: How To Buy Cardano (ADA) and Everything You Need To Know

6. Avalanche (AVAX)

Price: $40.21

Where to buy

Kraken

Where to trade

Kucoin

Where to store

YouHodler

Avalanche, an emerging player in the crypto space, currently holds a market cap of $14.39 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 7742% price increase since its July 2020 ICO.

Avalanche (AVAX) Price prediction

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.

Buy AVAX now

Kucoin is a Seychelles based global exchange. The platform has deep liquidity with the trading volume for AVAX at $1,316,205,585. The bid-ask spread is 0.02%, while the maker fee is 0.16% and the taker fee is 0.26%.

Trade AVAX now

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.

Store AVAX now

Read more: How To Buy Avalanche (AVAX) and Everything You Need To Know

7. Dogecoin (DOGE)

Price: $0.08

Where to buy

Coinbase

Where to trade

OKX

Where to store

YouHodler

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 $11.9 billion. Surprisingly, this memecoin has experienced an astonishing price surge of 27,785% since its 2013 launch price, making it one of the best altcoins to invest in.

Dogecoin (DOGE) price prediction

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.

Buy DOGE now

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%.

Trade DOGE now

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%.

Store DOGE now

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Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know

8. Polkadot (DOT)

Price: $8.18

Where to buy

Kraken

Where to trade

OKX

Where to store

YouHodler

Polkadot, with a market cap of $10.11 billion, 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 2613% since its 2017 ICO.

Buy DOT now

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.

Buy DOT now

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%.

Trade DOT now

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.

Store DOT

Read more: What is Polkadot?

9. Tron (TRX)

Price: $0.10

Where to buy

Kraken

Where to trade

OKX

Where to store

YouHodler

TRON, a significant presence in the crypto world, boasts a market cap of $9.46 billion. With its user-friendly approach and support for decentralized applications (DApps) and smart contracts, TRON has seen a notable price increase of 5265.35% since its 2017 ICO. This positions TRON as an intriguing choice among cryptocurrencies and one of the best altcoins to invest in.

Tron (TRX) Price prediction

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.

Buy TRX now

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

Trade TRX now

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.

Store TRX now

Read more: How To Buy TRON (TRX) and Everything You Need To Know

10. Polygon (MATIC)

Price: $0.92

Where to buy

Coinbase

Where to trade

Kucoin

Where to store

Coinbase

Polygon is a top altcoin to invest in, as it currently has a market cap of $8.37 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 32,865.77%.

Polygon (MATIC) price prediction

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% .

Buy MATIC now

Kucoin is one of the largest exchanges making it an excellent choice for traders that want to trade MATIC. The trading volume for MATIC on Kucoin is $1,316,205,585 , the bid-ask spread is 0.01%, and the trading fee is 0.1%.

Trade MATIC now

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.

Store MATIC now

Read more: How to Buy Polygon (MATIC) and Everything You Need to Know

11. Chainlink (LINK)

Price: $15.03

Where to buy

Kraken

Where to trade

Kucoin

Where to store

YouHodler

Chainlink is a prominent player in the cryptocurrency space and one of the best altcoins to invest in. LINK holds a market cap of $8.24 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 15,822.22%.

Chainlink (LINK) price prediction

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%.

Trade LINK now

With a focus on a broad variety of altcoins, KuCoin is a well-known cryptocurrency exchange that has been in operation since 2017. It offers a large selection of over 820 cryptocurrencies. It offers very competitive trading costs and is well-known for its sophisticated trading tools and options for trading futures.

Trade LINK now

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 EU and Switzerland, which gives customers more assurances of security.

Store LINK now

Read more: How to Buy Chainlink (LINK) and Everything You Need to Know

12. Toncoin (TON)

Price: $2.25

Where to buy

OKX

Where to trade

Kucoin

Where to store

Kraken

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%.

Toncoin (TON) Price prediction

OKX is one of the largest exchanges by trading volume and supports a diverse suite of products catering to crypto native users. It is considered an all in one exchange. The trading volume for TON is $4,426,678,993 , the spread is 0.02%, and the trading fee is 0.04%.

Buy TON now

Kucoin is a globally renown exchange that has become popular for trading crypto assets like derivatives and spot trading. The trading volume for TON on Kucoin is $1,316,205,585, the bid-ask spread is 0.01%, and the trading fee is 0.1%.

Trade TON now

Kraken is a good option for storing TON, as the assets on Kraken are made transparent through their proof of reserves. The trading volume on Kraken is $1,243,279,793, the bid-ask spread is 0.02%, and the fees are 0.16% for the maker fee and a 0.26% taker fee.

Store TON now

13. Internet Computer (ICP)

Price: $13.12

Where to buy

Kraken

Where to trade

OKX

Where to store

Kucoin

Internet Computer (ICP) is a unique blockchain project with a market cap of $6.43 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 47,133.33% since its ICO in May 2021.

ICP Price Prediction

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.

Buy ICP now

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% .

Trade ICP now

With over 820 coins available, KuCoin is a well-known cryptocurrency exchange that has been in operation since 2017. The trading volume for ICP is $1,316,205,585, the spread is 0.01%, and the trading fee is 0.1%

Store ICP now

Read more: What is Internet Computer (ICP)?

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What are altcoins?

Essentially, altcoins are cryptocurrencies that are alternatives to Bitcoin. Understanding this asset class is key to grasping the diversity and potential within the cryptocurrency market.

Altcoins often aim to be modified or improved versions of Bitcoin, leveraging the same underlying cryptographic techniques for secure digital transactions. The term altcoin season describes a period in which altcoins surge in value faster than BTC, highlighting the intrinsic relationship between the mother of all cryptos and the burgeoning market of BTC alternatives. Essentially, altcoin season comes into full swing when BTC dominance is low.

13 Best Altcoins To Invest In March 2024 (6)

Like all cryptocurrencies, a defining feature of altcoins is their decentralized nature, designed to operate independently of central authorities or governments. There are various types of altcoins, each serving different purposes.

Some are primarily used for digital payments, functioning similarly to digital money. Others may represent stakes in blockchain or decentralized finance (DeFi) projects, often issued during initial coin offerings (ICOs).

These cryptos can be classified further: security tokens are linked to the value of the issuing company or project, while utility tokens have specific applications, like facilitating decentralized file-sharing or providing decentralized domain name services.Despite these distinctions, all types of altcoins generally trade on crypto exchanges, making them accessible to a broad range of investors and traders.

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What to consider when choosing altcoins?

When selecting altcoins, follow these key steps:

  • Purpose and technology used: Understand what the altcoin is designed for and how its technology differs or improves upon Bitcoin. This could include faster transaction times, better security, or more privacy. For instance, you can stake Ethereum and earn additional revenue from your investment.
  • Market performance: Evaluate how the altcoin has been performing in the market. Look at its price history, market capitalization, and trading volume to gauge its stability and popularity. Including top memecoins in this evaluation can provide insights into market trends and investor sentiment.
  • Community and support: A strong, active community and good support indicate a healthy altcoin. Check forums, social media, and news sources for user and developer engagement.
  • Development team: Research the team behind the altcoin. A credible and experienced team can be a good sign of the altcoin’s potential success.
  • Adoption rate: Consider how widely the altcoin is being used. Higher adoption can mean greater reliability and potential for growth.
  • Risk assessment: Finally, assess the risks involved. Cryptocurrencies can be volatile and speculative, so understand your risk tolerance and invest wisely.

How do you assess and manage risk when investing in altcoins?

Assessing and managing risk when investing in altcoins involves several key steps:

  • Start by researching each altcoin. Understand its purpose, technology, market position, and the team behind it. This knowledge helps in making informed decisions.
  • Diversify investments. Don’t put all your money into one altcoin. Spread your investment across different cryptocurrencies to reduce the risk.
  • Understand market volatility. Cryptocurrencies are known for their volatility. Be prepared for price swings and understand how they can affect your investment, especially by monitoring tools like the crypto fear and greed index.
  • Set investment limits. Decide in advance how much of your total investment portfolio you are willing to allocate to altcoins. Stick to this limit to manage risk.
  • Use “stop loss” orders when trading. These orders automatically sell your investment at a pre-set price to minimize potential losses.
  • Keep up with the latest news in the cryptocurrency world. Market trends, regulatory changes, and technological developments can all impact your investment.
  • Keep a long-term perspective. Often, a long-term investment strategy may reduce the impact of short-term volatility.
  • Regularly review your portfolio. Periodically review and adjust your investments based on performance and changing market conditions.
  • Be clear about your risk tolerance. Invest only what you can afford to lose, as the cryptocurrency market can be unpredictable.
  • Avoid emotional decisions. Make decisions based on research and analysis rather than hype or fear. Emotional investing can lead to higher risks.

How to buy and store altcoins

Most popular platforms to buy Altcoins

Coinbase

13 Best Altcoins To Invest In March 2024 (7)

Explore Coinbase

on Coinbase’s official website

Cryptos250+

Trading fees 0.00%-0.001%

Bonus$10 for U.S. users

YouHodler

13 Best Altcoins To Invest In March 2024 (8)

Explore YouHodler

on YouHodler’s official website

Cryptos50+

Trading fees0.0178%-0.0712%

Limited time offerup to $10,000 referal bonus

OKX

13 Best Altcoins To Invest In March 2024 (9)

Explore OKX

on OKX’s official website

Cryptos300+

Trading feesMaker fee. 0.080%. 0.075% ; Taker fee. 0.100%

Limited time offerGuaranteed airdrop up to $100

Firstly, to buy and store altcoins securely, you need to use a reputable crypto exchange.Select a trustworthy cryptocurrency exchange, such as Coinbase, KuCoin, Kraken, YouHodler, or OKX. These top exchanges offer a wide range of altcoins.

After you’ve created an account on one of these crypto exchanges, you can proceed to buy altcoins. Ensure you have researched which altcoins to buy based on your investment strategy. After purchasing altcoins, it’s crucial to store them securely. Using hardware wallets such as Ledger or Trezor is recommended. These wallets provide a secure environment by storing your altcoins offline, greatly reducing the risk of online threats like hacking or theft.

Is investing in altcoins a good decision?

Investing in altcoins can be a good decision for some investors, but it depends on individual financial goals, risk tolerance, and market knowledge.

Here are some points to consider:

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  • High potential returns: Altcoins can offer high returns due to their volatility and growth potential. Some altcoins have shown significant price increases, outperforming more established cryptocurrencies.
  • Diversification: Including altcoins in your investment portfolio can provide diversification beyond traditional assets like stocks and bonds.
  • Innovation and utility: Many altcoins are developed with specific use cases and innovative technologies, which could lead to increased adoption and value.

However, there are also risks:

  • Market volatility: The cryptocurrency market, including altcoins, is known for its high volatility, which can lead to substantial price fluctuations.
  • Regulatory uncertainty: The lack of clear regulation in many countries can add to the risk of investing in altcoins.
  • Risk of loss: There’s a higher risk of losing your investment with altcoins and cryptocurrencies compared to more established assets. Some of the most common losses include scams and platform hacking.

Are altcoin investments taxable?

Yes, altcoin investments are taxable. Just like Bitcoin and Ethereum, profits from trading or selling altcoins, including top-performing ones and memecoins, are subject to tax.During a bull run, when the value of your crypto portfolio increases significantly, it’s important to remember that these gains are taxable.

The same applies to losses, which can be reported for tax benefits, depending on your country’s regulations. It’s crucial to keep track of all transactions, including those involving ERC-20 tokens (a standard used by Ethereum for creating tokens), for accurate tax reporting.Your investment strategies and risk assessment should also consider the tax implications of buying and selling cryptocurrencies. Regular altcoin research can help in understanding market trends and making informed decisions, but always remember the tax responsibilities associated with cryptocurrency investments.

Keen to know more about crypto tax burdens? Check out our complete crypto tax guide and learn how to reduce crypto tax with our comprehensive resources.

Comparison chart: Best altcoins to invest in

AltcoinTickerLaunch YearProject descriptionMarket cap (as of Jan. 8, 2024).
EthereumETH2015The Ethereum network has smart contracts that can automate tasks without intermediaries.$274.38 billion
Binance coinBNB2017BNB is a key element of the Binance crypto exchange, and it offers a range of perks to those holding it on Binance.$48.72 billion
SolanaSOL2020Solana is a high-speed blockchain that empowers decentralized applications and finance.$44.24 billion
XRPXRP2012It excels in facilitating smooth currency exchanges.$31.78 billion
CardanoADA2017Cardano network supports smart contracts and decentralized applications.$20.35 billion
AvalancheAVAX2020High-performance consensus protocol, allowing for rapid transactions and scalability.$14.39 billion
DogecoinDOGE2013Dogecoin, initially conceived as an internet joke in 2013, has evolved to capture the imagination of the crypto community.$11.9 billion
PolkadotDOT2017It offers the ability to connect various blockchains, fostering interoperability.$10.11 billion
TronTRX2017User-friendly approach and support for decentralized applications (DApps) and smart contracts.$9.46 billion
PolygonMATIC2017The largest ecosystem to facilitate faster and cheaper transactions while supporting decentralized applications (DApps).$8.37 billion
ChainlinkLINK2017Offers a decentralized oracle network, which is vital for enabling data-driven smart contracts.$8.24 billion
ToncoinTON2018It offers a decentralized oracle network, which is vital for enabling data-driven smart contracts.$7.54 billion
Internet ComputerICP2021It aims to extend the functionality of the internet, providing a decentralized platform for smart contracts.$6.43 billion

What are the best altcoins for you to invest in?

As with all crypto investments, navigating the dynamic world of cryptocurrency investments requires careful altcoin research.As always, we recommend a balanced investment strategy and a keen understanding of market trends.During a bull run, top-performing altcoins, including memecoins, have shown potential for significant gains, making them attractive for diversifying your crypto portfolio.

However, the volatility of the crypto market, which impacts and includes popular options like Bitcoin, Ethereum, and ERC-20 tokens, underscores the importance of risk assessment. As we look forward, staying informed about the best altcoins to invest in will be crucial for those looking to capitalize on emerging opportunities in the cryptocurrency landscape.Remember, successful investing in cryptocurrencies is not just about choosing the right assets but also about strategic planning and adapting to the ever-evolving market conditions.

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Frequently asked questions

Which altcoins will explode in 2024?

Altcoins with innovative technologies and strong community support are likely to explode in 2024. Pay attention to those involved in emerging crypto market trends and showing consistent growth in their development.

Which altcoins can reach $1000?

Altcoins with a strong use case, such as Ethereum, and those showing potential during a bull run, could reach $1000 or more. Their success depends on market adoption and overall crypto market performance.

What altcoin to invest in right now?

Currently, investing in altcoins with solid technology like ERC-20 tokens and a growing user base can be promising. Look for those showing positive trends in the crypto market.

What is the fastest-growing altcoin?

The fastest-growing altcoin is typically one that’s innovating in areas like DeFi or smart contracts. It often experiences rapid increases in market cap and user adoption. So far, we’ve witness the growth of Toncoin (TON) as one of the fastest-growing altcoin in the crypto market.

What are the top 10 altcoins?

The top 10 altcoins usually include established cryptocurrencies like Ethereum and Bitcoin. As of 2024, the top 10 altcoins are Ethereum, Binance Coin, Solana, XRP, Cardano, Avalanche, Dogecoin, Polkadot, Tron and Polygon.

What is the safest crypto to invest in?

The safest crypto to invest in is typically one with a long-standing reputation, such as Bitcoin or Ethereum. These have established markets, a strong community, a useful service and product and are widely regarded as more stable.

Which crypto to buy today for the short term?

For short-term investments, look for cryptocurrencies experiencing a current bull run or showing temporary market spikes. Usually, positive news can spark a bull run for a particular project. However, remember short-term crypto investments carry high risk.

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13 Best Altcoins To Invest In March 2024 (2024)
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