Top Cryptos to Buy in June 2024

Dollar cost averaging bitcoin
Investing in cryptocurrencies can be a strategic move, especially with market opportunities in June 2024. Top picks include Bitcoin, known for its stability and institutional backing, and Ethereum, which excels in decentralized applications and smart contracts. Binance Coin offers utility within the Binance ecosystem, while Solana stands out for its high transaction throughput. XRP remains a favorite for cross-border payments, and Cardano is lauded for its sustainable, peer-reviewed approach to blockchain development. Using platforms like ZenDCA, investors can automate their purchase plans, making it easier to navigate the volatile crypto market.

Bitcoin (BTC)

Bitcoin remains the gold standard of cryptocurrencies. As the first and most well-known cryptocurrency, it continues to lead the market with a massive market cap of $1.29 trillion. Bitcoin's decentralized nature and limited supply make it a reliable store of value, often referred to as “digital gold”.

Why Invest in Bitcoin?
  • Widespread Adoption: Bitcoin is widely accepted and recognized as a store of value.
  • Institutional Investment: Major institutions like Tesla and MicroStrategy hold significant amounts of Bitcoin.
  • Security and Stability: Bitcoin's robust security and immutability make it a preferred choice for investors seeking stability in the volatile crypto market.

Ethereum (ETH)

Ethereum is the leading platform for decentralized applications and smart contracts. It recently transitioned from a proof-of-work to a proof-of-stake consensus mechanism, enhancing its scalability and energy efficiency. With a market cap of $372 billion, Ethereum remains a top choice for developers and investors alike. The anticipated approval of Ethereum ETFs in the US is also expected to drive its demand​.

Why Invest in Ethereum?
  • Diverse Ecosystem: Hosting numerous dApps across various sectors such as DeFi, NFTs, and gaming.
  • Ethereum 2.0: Improved transaction speed and reduced fees, addressing previous scalability issues.
  • Smart Contract Functionality: Unparalleled smart contract functionality, making it the backbone of many blockchain projects.

Binance Coin (BNB)

BNB, the native coin of the Binance exchange, is a versatile cryptocurrency used for trading fee discounts, participating in token sales on Binance Launchpad, and more. Its integration into the Binance Smart Chain (BSC), an Ethereum-compatible blockchain, has bolstered its utility and market position, making it a strong contender in the crypto market with a market cap of $47 billion​.

Why Invest in Binance Coin?
  • Utility Token: Used for transaction fees on the Binance exchange, offering significant discounts.
  • Binance Smart Chain: Lower fees and faster transaction times compared to Ethereum.
  • Wide Usage: Crucial for participating in ICOs and other activities on the Binance Launchpad.

Solana (SOL)

Solana is known for its high throughput and low transaction costs, making it ideal for decentralized finance (DeFi) applications and NFTs. With recent integrations like LayerZero and PayPal USD stablecoin, Solana's ecosystem is rapidly expanding. Its unique Proof-of-History algorithm enhances its efficiency, securing a market cap of $72 billion​.

Why Invest in Solana?
  • Scalability: Can process thousands of transactions per second.
  • Low Costs: Low transaction fees make it accessible for a wide range of users.
  • Recent Integrations: Partnerships like PayPal USD highlight Solana's growing influence in the crypto space.

Cardano (ADA)

Cardano distinguishes itself with a scientific approach to blockchain development, focusing on sustainability and scalability. It employs a proof-of-stake consensus mechanism and aims to provide a secure and scalable platform for the development of smart contracts and decentralized applications. With a market cap of $16.2 billion, Cardano is a promising project for those interested in the long-term potential of blockchain technology​​.

Why Invest in Cardano?
  • Scientific Development: Driven by peer-reviewed research and high standards.
  • Eco-Friendly: Proof-of-stake system consumes less energy.
  • Scalability and Interoperability: Focus on future growth and widespread adoption.

Additional Noteworthy Cryptocurrencies

While the above cryptocurrencies are the top picks, there are other noteworthy options to consider:
  1. Polkadot (DOT): Known for its interoperability and ability to connect multiple blockchains, making it a hub for decentralized networks​​.
  2. Chainlink (LINK): Provides reliable tamper-proof data for complex smart contracts on any blockchain​​.
  3. Avalanche (AVAX): Offers high throughput and low latency, making it suitable for DeFi applications and enterprise solutions​​.

How to Invest in Cryptocurrencies with ZenDCA

ZenDCA is a platform specializing in Dollar-Cost Averaging (DCA) for cryptocurrencies, allowing users to automate purchase and withdrawal plans for Bitcoin, Ethereum, Litecoin, and more. Here’s how you can invest in cryptocurrencies using ZenDCA:

1. Create an Account

Visit ZenDCA and sign up for an account. You will need to provide basic information and verify your email address. Once your account is created, you can log in and access the dashboard.

2. Link Your Bank Account

To fund your ZenDCA account, you need to link your bank account. ZenDCA supports various payment methods, including bank transfers and credit/debit cards. Follow the instructions on the platform to securely link your bank account.

3. Set Up a DCA Plan

ZenDCA allows you to set up automated purchase plans. Decide how much you want to invest in each cryptocurrency and how often you would like to make the purchases. For example, you can choose to buy $100 worth of Bitcoin every week. This strategy helps to mitigate the impact of market volatility.
Steps to Set Up a DCA Plan:
  • Select the cryptocurrency you would like to invest in.
  • Select the amount and frequency of your investment.
  • Confirm your plan and let ZenDCA handle the rest.

4. Monitor Your Investments

Once your DCA plan is active, you can monitor your investments through the ZenDCA dashboard. The platform provides detailed reports and insights into your portfolio's performance. You can adjust your plans as needed based on market conditions and your investment goals.

5. Withdraw Your Earnings

ZenDCA also supports automated withdrawal plans. You can set up a schedule to withdraw a portion of your investments or earnings periodically. This feature ensures that you can systematically take profits or move funds to a more secure wallet.

Types of Wallets:
  • Hot Wallets: Convenient online wallets accessible via your computer, phone, or tablet. However, they are more susceptible to theft.
  • Cold Wallets: Not always connected to the internet, making them less vulnerable to hackers. Keep your key secure, as losing it could mean losing your crypto forever.

Investing in cryptocurrencies requires thorough research and an understanding of each asset's unique characteristics and potential. The cryptocurrencies listed above are among the top choices for June 2024, offering a mix of stability, innovation, and growth potential. By using ZenDCA, you can automate your investments and take advantage of the Dollar-Cost Averaging strategy to navigate the volatile crypto market more effectively.