The digital era is marching toward its advanced programs and applications. Digital technology has an impact and influence on the financial system and its processes. The era of digital money is not far away from us.
In the digital economy, cryptocurrency will be the indefatigable frontrunner. Cryptocurrency will be the future of the economy, it is a digital currency that is based on encryption algorithms, which can be used as an alternative form of payment method.
The inevitable part of the cryptocurrency ecosystem will be an active crypto wallet. We all use a wallet to store our in-hand money, this is the same application in cryptosystem, users need an active crypto wallet to store their digital currency.
Crypto Currency: A Risky Path That Attracts People a Lot!
There will be a lot of risks involved in the cryptocurrency arena, and the extreme volatility of coins will be an important thing to keep in mind, the digital market is continuously changing and momentary. So the components in the digital market will too undergo the same fluctuations and variations.
Since cryptocurrency works in a decentralized manner, there will be no third party to regulate the transactions, it will create some conflicts and a hard time in converting the digital asset to tangible currency such as euros and dollars. Technical complexity, hacking, and scamming are the other risks involved in the process.
Despite all these risky factors, people are keen to invest in crypto tokens because of the diversity, cost-effective transactions, transparency, and big future returns. The investors are looking at it as a diverse program to enhance their possessions and improve the digital asset stats.
The inflation protection of crypto is another important factor that attracts investors to have a go at the cryptocurrency ecosystem.
With time, coin values will also fluctuate because of the ever-evolving market. In this article, we discuss the top ten cryptos to invest in October 2024.
Top 10 Cryptocurrencies to Watch Out in October!
Here is the list of the top ten cryptocurrencies to notice, these coins can guarantee a minimum market performance.
If you are planning to invest in the crypto market, consider investing in these projects, as it is performing well in the current market.
1. Bitcoin (BTC)
There will be no other name in our minds when it comes to cryptocurrency. Bitcoin (BTC) is the oldest (launched in 2009) and strongest one in the field with a standard market performance.
Bitcoin provides a long-term investment type, right now, it is the best coin to invest in the long term, the price value of BTC at the time of writing is $61,230.62 which is the highest value in the ecosystem.
BTC gives you a +123.52% of the year-to-date return. BTC stands in the first position in the market cap with a live count of $1,205,192,712,838(1.2T).
The risk involvement in the BTC investment can be categorized as low to moderate.
2. Ethereum (ETH)
Ethereum is another prominent figure in cryptography. The coin was introduced in 2015 and is a leading project for decentralized apps. In September 2022 Ethereum introduced an advanced Ethereum 2.0 version making more popular and promising projects in the market.
The current value of ETH is $2,390.27 which is a decent value in the market and could be a good alternative to BTC. ETH gives you a +49.67% of the year-to-date return with a moderate investment risk level. The market cap of ETH is 318.37B.
3. Solana (SOL)
Solana is a new competitor in the field since its introduction to the crypto world in 2020. It was designed to improve Ethereum, and the working principle is quite similar to it. The current value of Solana is $141.53 with a market cap of $66.76B.
This coin has a high-risk level compared to another one, the expected year-to-date return is +520.77%.
4. Ripple (XRP)
Ripple has a total supply of 100 billion tokens, which is a good number and it showed a decent market performance.
The project offers a medium-term investment type with a moderate risk involvement. The current value of XRP is $0.41 and the market cap is $61.47B.
5. Avalanche (AVAX)
It is one of the top performers in the market with a more stabilized scale. The project follows a different layer two solution approach in their system. The current price of AVAX is $25.48 with a market cap of $10.4B. Investment in AVAX could be better in the future as it shows significant growth.
6. Cardano (ADA)
Cardano is one of the most trustworthy cryptocurrencies in the ecosystem, it always maintains a good position in the market. The price of ADA is $0.3459 with a market cap of $12.25B.
Experts believe that investing in ADA could be beneficial in the future because of the wide range of applications in the project.
7. Binance Coin (BNB)
Binance Coin (BNB) is the project that shows a doubled market cap from the start of 2024, it is an extremely liquid coin with $548.92 with 80.00B. The risk associated with BNB is moderate with +158.58% of the year-to-date return.
8. Polygon (MATIC)
Polygon is a good option to invest, the coin has a $1.02B market cap and the valued price is $0.3765. Selecting MATIC in the investment process could be better as the project continues its growth and development.
9. Cosmos (ATOM)
Cosmos was introduced in 2019 since then, it maintained a decent run in the market, and now it has become the best option for investors. The current price of ATOM is $4.46 with a market cap of $1.75B.
10. Chainlink (LINK)
It is a highly-rated liquid cryptocurrency that has a high preference rate among investors.
The current price of LINK is $10.76 and the market cap is $6.80B. Opting for this coin could be better for an enhanced future profit.
Final Thoughts
Investing in cryptocurrency is a good method to increase your crypto portfolio and future profits. Take the needed assessment and market evaluation before going to the investment process.
This can save you from exposing to scams and fraudulent activities. The assessment includes coin selection, duration of investment, legitimacy of the project, etc.
Investments in cryptocurrency projects involve high risk, any investment in crypto projects and other crypto-related activities must be done after consulting the expert.
Consult an expert only after studying the entire market and crypto projects all by yourself. Aware about the potential risks and take decisions accordingly.
