Altcoins in 2024: how not to get lost in the seas of altcoins

A crypto newbie often hears: “invest in altcoins”. But what is it, really? The simple answer: everything that is not Bitcoin. The complex answer: it is a whole universe of blockchain projects, each with its own feature.

Where did altcoins come from?

In the beginning, there were two questions: why is Bitcoin slow and why is it so hungry for electricity? Developers began to answer these questions. Ethereum offered smart contracts, Solana promised cosmic speed, Cardano announced a scientific approach. Everyone was pulling the blanket towards themselves.

Today, altcoins are not just alternatives; they are entire ecosystems. DeFi, NFT, oracles, privacy, gaming tokens — the list is endless.

What's trending now?

Ethereum (ETH) remains the king of platforms. After the upgrade to PoS, the network has become more energy-efficient, and Layer 2 solutions have paved the way for scaling. DeFi and NFTs are still thriving here.

Solana (SOL) — is a network for those who are tired of waiting. High throughput, low fees, immense speed. If we disregard occasional failures, it's truly ideal for mass-market applications.

Binance Coin (BNB) — a token that is lucky. Tied to the largest exchange, constant burning (deflation), and its own ecosystem BSC, where fees are negligible. Demand is maintained at the level of supply.

Polkadot (DOT) plays the role of a bridge between blockchains. Interoperability is the future when there will be so many networks that they simply must communicate with each other.

Cardano (ADA) — slow and steady. Scientific approach, conservative development, built-in ecosystem. For those who believe in the long game.

Chainlink (LINK) — the heart of DeFi. Oracles connect blockchain to the real world. The more smart contracts, the higher the demand for LINK.

What to look for before buying?

1. Problem: does the altcoin solve a real issue or is it just a pump-and-dump?
2. Team: are they still working or have they already pulled an exit scam?
3. Activity: are there developers, is the community growing, are there updates coming out?
4. Ecosystem: who uses this token in practice?
5. Volatility: is your portfolio ready for swings of ±50% in a week?

Main

Altcoins are not a lottery, they are a choice. Ethereum and Solana have already proven their utility, but that is no guarantee of rise. Chainlink needs DeFi like air, but the price depends on investor appetite. The old rule still applies: do not invest more than you can afford to lose.