As the 2024 bull run advances, many investors are looking to altcoins to deliver gains. So, which crypto should you add to your portfolio before altcoin season kicks in? This guide lists 11 of the best cryptos that could deliver potential returns in 2024 and beyond.
Methodology
Over six months, BeInCrypto’s product teams evaluated numerous exchanges to identify the best platforms for buying crypto before altcoin season, offering insights into the standout features of each highlighted platform. Here’s some insight into why each was chosen.
YouHodler
- 3FA (Three-Factor Authentication): YouHodler enhances security with a three-factor authentication process that adds a layer beyond typical 2FA. This includes a security question alongside the standard password and 2FA mechanisms.
- Insurance of funds: Provides comprehensive insurance through the Ledger Vault for up to $150 million, safeguarding users’ funds against potential security breaches and threats.
- Advanced encryption: Implements robust encryption standards to protect user data and transactions from unauthorized access.
- Security audits: Regular external security audits ensure the integrity and security of its systems.
- Constant monitoring: Continuous monitoring tools are used to detect and respond to unusual activities quickly, enhancing the security of user accounts.
Kraken
- Global settings lock: Prevents changes to account settings within a certain time frame after being enabled, protecting users from unauthorized changes under account compromise.
- Master key: Adds an extra layer of security by requiring a separate password for critical actions like account recovery.
- Cold storage: Stores the vast majority of funds in offline, air-gapped cold storage to significantly reduce the risk of hacking.
- PGP/GPG encryption: Offers encrypted email communication, allowing users to verify the authenticity of emails sent from Kraken to prevent phishing attacks.
eToro
- Regulatory compliance: Fully regulated by several financial authorities, ensuring strict adherence to legal and security standards.
- Two-Factor Authentication (2FA): Mandatory 2FA for all users adds an extra layer of security for account access and withdrawal actions.
- Data Encryption: Uses SSL encryption to protect user data and secure all transactions. CoinEx
- Multi-signature wallets: Requires multiple signatures to authorize transactions, thereby enhancing the security of fund movements.
- Real-time monitoring: Employs real-time monitoring systems to oversee transactions and activities for signs of suspicious behavior.
- SSL encryption: Ensures the security of user information and data transmission with high-grade SSL encryption.
Bybit
- SSL Encryption: To prevent data interception, secure all communications between clients and servers using SSL technology.
- Real-time risk auditing: Features a real-time risk management system that constantly checks deposits, withdrawals, and trading positions against available balances.
- Manual withdrawal review: Conducts manual reviews of all withdrawal requests to add an extra layer of security before processing.
- Cold storage: Maintains most user funds in cold storage, reducing the risks associated with online hacking attempts.
- SSL Encryption: Secure Socket Layer (SSL) encryption protects user data and transaction privacy.
- 2FA: Mandatory two-factor authentication for logging in and processing withdrawals increases account security.
To learn more about BeInCrypto’s verification methodology, follow this link.
- Top cryptos to add to your portfolio before altcoin season
- 1. Ethereum (ETH)
- 2. Binance Coin (BNB)
- 3. Solana (SOL)
- 4. Ripple (XRP)
- 5. Dogecoin (DOGE)
- 6. Toncoin (TON)
- 7. Cardano (ADA)
- 8. Shiba Inu (SHIB)
- 9. Avalanche (AVAX)
- 10. Polkadot (DOT)
- 11. Bitcoin Cash (BCH)
- What are altcoins?
- Altcoin investment strategies
- How to choose the best crypto to invest in for altcoin season
- Which crypto suits your investment portfolio best?
- Frequently asked questions
Top cryptos to add to your portfolio before altcoin season
1. Ethereum (ETH)
Ethereum secures its place on our list due to its profound impact on the blockchain ecosystem and its promising future in the upcoming altcoin season. As the first platform to popularize smart contracts, Ethereum offers a versatile foundation for decentralized applications (DApps) and has nurtured a thriving community of developers and investors. The transition to Ethereum 2.0, moving from proof-of-work to proof-of-stake, marks a significant leap towards scalability and energy efficiency. This upgrade addressed major network congestion issues and reduced gas fees, enhancing its attractiveness as a blockchain solution.
With numerous DeFi projects and ERC-20 tokens built on its platform, Ethereum acts as a backbone for a substantial part of the crypto ecosystem. This interconnectedness means that as the altcoin season approaches and the market tends to lean towards speculative investments, Ethereum’s role as a primary transaction layer provides it with a unique advantage. Its widespread adoption and continuous improvements are key indicators of its potential for significant returns, making it a must-add asset to any crypto investor’s portfolio before the altcoin season kicks in.
YouHodler is a financial services platform that allows users to access crypto-backed loans, earn interest on their cryptocurrency holdings, and trade various digital assets. It aims to bridge the gap between traditional finance and crypto by providing tools that help users leverage their cryptocurrencies without selling them. The platform facilitates the safe and secure purchase of ETH.
2. Binance Coin (BNB)
Binance Coin (BNB) earns a spot on our list due to its integral role within the Binance ecosystem, the world’s largest crypto exchange by trading volume. BNB offers a variety of utility functions that enhance user engagement and incentivize holding the coin. These include reduced trading fees on the Binance platform, payment for transaction fees on Binance Chain, and participation in exclusive token sales hosted on Binance Launchpad.
As altcoin season approaches, Binance’s expanding influence and innovation in blockchain infrastructure suggest a promising uptick in BNB’s activity and value. The coin’s utility and demand are expected to rise, driven by increased trading volumes and the ongoing expansion of Binance services globally. Adding BNB to your crypto portfolio could be a strategic move to leverage the anticipated growth in the DeFi space and the wider decentralized asset market.
eToro offers a unique combination of social trading features and a broad range of investment options. Founded in 2007, the platform allows users to follow and copy the trades of successful investors through its copy trading feature. The platform supports a variety of assets, including BNB, plus other cryptocurrencies, stocks, commodities, indices, and forex, catering to diverse investment preferences and risk tolerances.
3. Solana (SOL)
Solana (SOL) has been selected for our list thanks to its groundbreaking transaction speeds and robust scalability, which make it a standout among blockchain platforms. Known for its high throughput of 65,000 transactions per second (TPS) without sacrificing decentralization, Solana offers an enticing solution for developers looking to build fast and efficient applications. This capability is particularly critical as the blockchain sector continues to grapple with the challenge of high fees and slow transactions on other networks. With its innovative proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) mechanism, Solana not only enhances speed but also maintains lower transaction costs, making it highly attractive ahead of the anticipated altcoin season.
The network’s growing ecosystem is another compelling reason for its inclusion in our portfolio recommendations. It hosts a wide array of projects spanning DeFi, NFTs, and decentralized applications (DApps). As these sectors continue to expand and innovate, the demand for SOL as the native currency needed to conduct transactions and interact with the network is likely to surge. This integrated network effect, combined with technological prowess, positions Solana as a potential high performer during the upcoming altcoin season.
CoinEx is a global cryptocurrency exchange recognized for its wide selection of altcoins, including SOL. Established in December 2017, the platform focuses strongly on security, incorporating features such as SSL encryption, multi-signature wallets, and two-factor authentication (2FA) to protect users’ assets. The exchange is designed to facilitate high-volume trading, maintaining performance and reliability even during market surges.
4. Ripple (XRP)
Ripple (XRP) makes our list as a notable crypto due to its unique position in the financial industry and its potential regulatory clarity in the near future. Unlike many cryptocurrencies that target general use cases, XRP is designed primarily for financial institutions and payment services, providing rapid and cost-effective cross-border payment solutions.
Ripple’s network enables transactions globally in seconds at a lower cost compared to traditional banking systems, which is particularly appealing as global digital transactions continue to increase. The anticipation of altcoin season often sparks interest in tokens with solid utility and potential for increased adoption, making XRP a prime candidate due to its established partnerships with major financial players and its ongoing expansion into new financial markets.
Additionally, Ripple’s ongoing legal battles in the U.S. have been a point of focus for investors, as a favorable outcome could lead to a significant boost in investor confidence and an increase in institutional adoption. This potential regulatory clarity might set a precedent for how other cryptos could be treated, further increasing XRP’s appeal.
Finally, the active development of new functionalities on the Ripple network, such as federated sidechains for smart contracts and DeFi applications, suggests growing utility that could benefit early investors. These developments make XRP an attractive asset to add to your crypto portfolio before altcoin season kicks off.
Stormgain is a leading crypto trading and exchange platform. Founded in 2019, the CEX supports a range of altcoins, including XRP. It offers a suite of cryptocurrency trading options, including futures and spot trading, and a unique feature allowing users to mine cryptocurrency directly from their smartphones.
The platform caters to beginner and experienced traders with its user-friendly interface and comprehensive educational resources, such as tutorials and webinars. Stormgain also provides leverage options, potentially enabling traders to increase their exposure and profitability.
5. Dogecoin (DOGE)
Initially started as a joke, Dogecoin has garnered a massive following and significant investor interest, partly due to high-profile endorsements from celebrities like Elon Musk. This community-driven momentum makes Dogecoin particularly attractive as a speculative investment with the potential for substantial returns, especially during altcoin season.
Furthermore, Dogecoin’s adoption as a payment method by various merchants and its increasing use in charitable and community-driven initiatives add an extra layer of utility to the crypto. Despite its beginnings as a satirical take on Bitcoin, the increased practical uses and integrations into mainstream payment processes highlight its potential staying power and growth.
These factors suggest that Dogecoin is more than just a meme coin; it’s a crypto asset that can capture significant market attention and achieve gains during the altcoin season, making it a worthy addition to any diversified crypto portfolio.
YouHodler offers users innovative ways to leverage their digital assets. Users can secure crypto-backed loans using their DOGE or other altcoins as collateral, allowing them to access liquidity without selling their holdings. Additionally, YouHodler provides interest accounts where holders can earn passive income on their crypto. The platform is secure and easy-to-use with an intuitive design.
6. Toncoin (TON)
Toncoin (TON) earns a place on our list for its innovative design and strong community backing, which stem from its origins with the Telegram Open Network project. This cryptocurrency aims to enhance scalability and user-friendliness in the blockchain space, supporting high-speed transactions and efficient user interactions. Toncoin’s ability to integrate seamlessly with Telegram, one of the world’s largest messaging platforms, provides a unique advantage in terms of user adoption and ecosystem growth. As altcoin season approaches, such strategic integrations are vital, as they pave the way for broader mainstream acceptance and potential explosive growth in user base and transaction volume.
Moreover, the technical capabilities of Toncoin’s underlying technology are designed to handle millions of transactions per second, thanks to its unique multi-blockchain architecture. This not only ensures that Toncoin can support a growing global user base but also positions it as a frontrunner in the race to achieve widespread blockchain adoption. The commitment to continuous development and the recent introductions of decentralized applications (DApps), smart contracts, and decentralized services further bolster its position as a leading cryptocurrency. These attributes make Toncoin an attractive investment ahead of the anticipated altcoin season, promising both innovation and profitability.
Users looking to add TON to their crypto portfolio before altcoin season can use a compatible exchange such as Kraken. Known for it’s focus on security, Kraken regularly publishes proof-of-reserves and used advanced safety measures such as 2FA and customizable API key permissions, and offers a high priority 24/7 live chat service. The platform’s comprehensive approach to cybersecurity has earned it the ISO/IEC 27001:2013 and SOC 2, Type 1 certifications.
7. Cardano (ADA)
With a rigorous scientific underpinning and commitment to sustainability, Cardano holds a strong position in the crypto market. Founded by Ethereum co-founder Charles Hoskinson and developed by a global team of engineers and researchers, the Cardano blockchain is both secure and scalable. Following the Alonzo upgrade, Cardono supports DApps, smart contracts, and NFTs. As altcoin season nears, the potential for increased adoption of Cardano’s advanced features makes it’s native coin, ADA, a prime candidate for inclusion in any investment portfolio.
Furthermore, Cardano’s dedication to creating a more environmentally sustainable blockchain resonates well with a growing segment of crypto investors concerned about the ecological impact of digital assets. Cardano uses a proof-of-stake (PoS) consensus mechanism, which drastically reduces the energy required to operate it. This not only enhances its appeal to environmentally conscious investors but also aligns with global trends towards sustainability
The ongoing developments and the robust roadmap of Cardano promise further enhancements and capabilities, fostering a strong foundation for growth as market conditions become favorable during altcoin season.
Haipo Yang — who also founded ViaBTC, one of the world’s largest mining pools — established CoinEx in 2017. The aim was to create an exchange that prioritizes user experience and service quality. The platform allows users to buy ADA safely and securely, as well as a wide array of supported cryptocurrencies. The user-friendly mobile app allows traders to easily check trending tokens as well as the biggest losers and gainers across multiple time parameters, offering a holistic perspective of the market at any given moment.
8. Shiba Inu (SHIB)
Shiba Inu (SHIB) was launched in August 2020 by an anonymous person or group known as “Ryoshi.” This cryptocurrency, often considered a “Dogecoin killer,” was designed as a decentralized meme coin. The project has expanded significantly since launch with SHIB supporting a vibrant ecosystem, including the ShibaSwap decentralized exchange and an artist incubator. This expansion beyond mere token trading into a broader ecosystem has significantly increased its utility and appeal. As altcoin season approaches, the community’s enthusiasm and the increasing utility of SHIB could drive up its demand and price, making it a speculative but potentially rewarding investment.
Furthermore, Shiba Inu’s strategic moves towards decentralization and its plans to incorporate layer-2 solutions and a decentralized stablecoin indicate a maturing approach to blockchain development. These initiatives aim to reduce transaction costs and improve scalability, thereby attracting more users and developers to its platform. The launch of these features could coincide with the seasonal uptick in altcoin interest, positioning SHIB well for increased adoption and investment. For investors looking to capitalize on the possible surge in meme coins and community-centric projects during altcoin season, Shiba Inu offers a compelling mix of humor, innovation, and potential financial return.
Launched in March 2018, Bybit has become one of the leading platforms in the crypto trading space. Users can buy and sell SHIB with ease. The platform provides a robust trading infrastructure and offers perpetual futures contracts for several major altcoins with high-leverage options, allowing traders to speculate on price movements.
9. Avalanche (AVAX)
Avalanche (AVAX) was created by Emin Gün Sirer, a well-known computer scientist and professor at Cornell University. The crypto was officially launched by Ava Labs in September 2020. AVAX operates as the native coin of the Avalanche platform, which is designed to provide an exceptionally fast, scalable, and eco-friendly blockchain infrastructure.
The total supply of AVAX is capped at 720 million coins. The distribution is managed through various mechanisms, including staking rewards, community incentives, and funding for the development team and foundation.
AVAX serves as the fuel for transactions and smart contract execution on the Avalanche network, driving demand for the coin as adoption grows. With its unique consensus mechanism, Avalanche achieves high throughput and near-instant transaction finalit. Moreover, AVAX holders can participate in on-chain governance, shaping the future direction of the platform and potentially earning rewards.
As investors seek exposure to promising cryptos poised for growth during altcoin season, AVAX stands out as a solid choice due to its strong fundamentals, innovative technology, and growing ecosystem.
StormGain employs state-of-the-art security technology to ensure the safety of user funds and data. This includes using advanced encryption protocols to protect sensitive information and two-factor authentication (2FA) to enhance account security. Additionally, StormGain stores most of its users’ digital assets in cold wallets. These offline storage solutions significantly reduce the risk of hacking and unauthorized access, providing an additional layer of security. As such, the platform is a safe and reliable option for individuals looking to add AVAX to their crypto portfolios ahead of altcoin season.
10. Polkadot (DOT)
Polkadot (DOT) was founded by Dr. Gavin Wood, one of the co-founders of Ethereum and the creator of the Solidity programming language. Launched in May 2020 by the Web3 Foundation and developed by Parity Technologies, Polkadot aims to enable a decentralized web where independent blockchains can exchange information and transactions in a trust-free fashion through the Polkadot relay chain.
DOT, Polkadot’s native crypto, plays a crucial role in maintaining and operating the Polkadot network. DOT does not have a capped maximum supply. The circulating supply is expected to reach 1.5 billion coins by January 2025.
DOT holders have the opportunity to participate in the governance process, influencing network upgrades and decisions. Given Polkadot’s growing adoption, robust technology, and active community, investing in DOT before altcoin season presents an opportunity to capitalize on the potential for significant growth and diversification within the cryptocurrency market.
YouHodler is a solid choice for users looking to add DOT to their crypto portfolio before altcoin season. The platform offers cryptocurrency-backed lending, crypto conversions, and high-yield crypto savings accounts.
Security for altcoins on YouHodler is a top priority, and the platform employs several robust measures to ensure the safety of user assets. YouHodler utilizes industry-standard encryption to protect user data and communications. It also maintains the security of digital assets through a combination of cold storage and trusted custodian partnerships. The majority of user funds are stored in offline wallets, which significantly minimizes the risk of hacking and unauthorized access.
11. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) was officially launched on Aug. 1, 2017, following a community dispute that led to a hard fork from the original Bitcoin blockchain.
As a prominent fork of Bitcoin, BCH inherits many of Bitcoin’s fundamental characteristics, including scarcity and decentralization, while also offering improvements in scalability and transaction speed. BCH aims to be a peer-to-peer electronic cash system, prioritizing fast and low-cost transactions, making it ideal for everyday use and commerce.
Furthermore, BCH has a passionate community and strong network effects, with widespread acceptance among merchants and businesses. With its established position in the cryptocurrency market and ongoing development efforts to enhance its utility and functionality, BCH offers investors an opportunity to diversify their portfolios and potentially benefit from increased demand and adoption during altcoin season.
eToro employs advanced security technologies to protect user data and funds. This includes using SSL encryption on all data transmissions and ensuring that personal and financial information is kept secure from interception during transmission. Users can buy and sell BCH with ease and access a host of other asset classes, including traditional stocks.
*All market cap rankings and price information is based on CoinMarketCap data as of April 22, 2024.
What are altcoins?
Altcoins, or alternative coins, represent all cryptocurrencies except Bitcoin. These coins emerged as alternatives to Bitcoin and traditional fiat currencies and are integral to the crypto ecosystem in 2024. Many altcoins emerged with the aim of improving on certain weaker elements of the Bitcoin network, such as transaction speeds and energy efficiency.
Altcoin season happens when Bitcoin dominance falls, and altcoins outperform BTC. For crypto investors that have diversified beyond BTC (or simply hold altcoin portfolios), this is a key event as it signals potential for incoming gains.
Altcoin investment strategies
Investing in altcoins can be rewarding but requires careful strategy and attention to detail. Here are some altcoin investment strategies to keep in mind:
- Research & narrative selection: Research market narratives and select altcoins that align with emerging trends or solve real-world problems. This involves examining each project’s vision, use cases, and community engagement.
- Diversify your investments: Spread your assets across multiple altcoins to reduce risk and increase potential gains.
- Dig deep into research: Investigate each altcoin’s market potential, technology, team, and roadmap. Understanding the fundamentals and technology behind an altcoin can provide insights into its long-term viability.
- Stay updated on market trends: Keep up-to-date with cryptocurrency news and developments. Regulatory changes, technological advancements, and market sentiment can all impact altcoin prices.
- Consider staking and yield farming: Explore staking or yield farming if the altcoin supports it to earn interest on your holdings. This can provide an additional revenue stream beyond capital appreciation.
Incorporating these strategies into your altcoin investment approach can help you navigate the market more effectively and potentially enhance your investment outcomes.
How to choose the best crypto to invest in for altcoin season
Choosing the best cryptocurrency to invest in during the altcoin season requires a detailed and specific strategy. Here are some points to guide your decision-making:
- Identify trending sectors: Pinpoint which sectors within the crypto market are gaining traction, such as DeFi (decentralized finance), NFTs (non-fungible tokens), or web3 technologies. Investing in altcoins that are leaders in these hot sectors can be beneficial.
- Analyze developer activity: Look at the development activity on GitHub or other repositories. High active development and community contributions signal a healthy, growing project.
- Consider tokenomics: Understand the supply mechanics like maximum supply limits, circulation supply, and token burning mechanisms. Coins with deflationary models or those that reduce supply over time offer increased value during peak periods.
- Assess network performance and scalability: Consider how the underlying blockchain performs under stress and its scalability solutions. Networks that handle higher transaction volumes without significant fees or delays are preferable.
- Review governance models: Evaluate how decisions are made within the project’s ecosystem. Projects with decentralized and transparent governance can adapt and evolve more effectively, making them potentially more resilient investments.
- Evaluate global reach: Consider altcoins with a broader worldwide reach and higher adoption rates. These can often maintain better liquidity and resilience during market downturns.
By focusing on these specific and unique aspects, you can refine your selection process and better identify promising projects during altcoin season, potentially leading to more strategic and informed investment choices.
Which crypto suits your investment portfolio best?
When deciding which coins to add to your crypto portfolio before altcoin season, it’s crucial to consider established names. While you may see larger gains investing in riskier projects, such as Base chain meme coins or Solana meme coins, you are also much more likely to be at the mercy of market manipulators. Remember that diversification is key. Never invest more than you can afford to lose. It’s essential to do thorough research to build a balanced crypto portfolio that aligns with your risk tolerance and investment goals.
Frequently asked questions
An altcoin refers to any cryptocurrency other than Bitcoin. These coins can offer a huge range of different features, use cases, and consensus mechanisms. Examples of leading altcoins include ETH, BNB, SOL, DOGE, and XRP.
Predicting specific cryptocurrency surges can be challenging, but many meme coins have seen huge gains in 2024. For more established altcoins, ETH (Ethereum) and SOL (Solana) are both candidates for possible gains in 2024 based on current trends and development. Dtrong community support and ongoing developments is key to the growth of both these leading networks and their respective native cryptos.
Utility tokens provide users with a product or service within a network. These tokens grant holders access to certain benefits such as discounted fees, voting rights, or a product service. They differ from security tokens, representing an investment and offering dividends or profit-sharing rights.
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