Australia is one of the most crypto-friendly countries in the world, and that has made crypto to be popular in the country.
The year 2024 has shown positive signs of gains in the crypto market, and few countries are as positioned to benefit from it as Australia. Therefore if you’re a resident and are thinking about buying crypto, you’re on the right track.
But which crypto assets should you buy? This is the question we seek to answer in this guide. Not every crypto asset is a suitable investment at everytime. Even though 2024 appears to favor all assets equally, some are more equal than others.
Therefore, we have picked out the best options here for you to simply invest in and wait. Here they are.
Bitcoin (BTC)
Bitcoin (BTC) has hit a new all time high of over $73,000 and the bull cycle has just begun. This is owed mostly to a fresh influx of investors, especially corporate ones, following the approval of spot BTC ETFs.
This influx has already brought much money to the industry, but much is still expected. Another thing that makes BTC a good prospective investment is the famous Bitcoin halving which is expected in a few weeks.
BTC price is expected to spike in the wake of the halving, but only those who already hold it can benefit.
Ethereum (ETH)
Ethereum (ETH) is also breaking limits and is currently a top performer among the top ten crypto assets. The token is even expected to outperform Bitcoin in 2024, according to expert analysis frommJP Morgan and others.
The growth of ETH is tied to the rising demand for smart contracts and decentralized applications. The network is also expected to implement some serious upgrades that will make it faster and cheaper to use in 2024.
This will increase interest in developers and ordinary users, which is expected to manifest in an increase in the value of ETH, the token.
Solana (SOL)
Right now, Solana (SOL) is one of the leading assets among the top ten by price performance, and this performance is far from close to finishing. The token SOL is still far from its former all-time high which it is expected to break and supersede eventually.
The growth of this token is as a result of the increasing popularity of the network which provides a faster, cheaper and more efficient alternative to Ethereum. This token is one of those with unprecedented growth potentials which it proved in 2023 already.
If you want a piece of the remaining cake, it’s time to hop on the Solana wagon or get left behind in the dust.
Dogecoin (DOGE)
Dogecoin (DOGE) was created to be a joke, but over the years, it has proven to be more than that, at least in terms of price gains. This asset has gone up thousands of times, thanks to the influence of men like Elon Musk and its continued development.
It is one of the top gainers currently, and has been ahead ever since the bull cycle started a few weeks ago. The thing about DOGE is that it can easily make you rich but could also do much damage. The key lies in watching carefully and taking the right step as at when due.
Shiba Inu (SHIB)
This is another meme-based token built on Ethereum. The project has been in the news a lot lately because of the many developments it is working on to upgrade the network and make it more than a joke.
One of such developments is Shibarium which is expected to be a major turning point for Shiba Inu. However, the one change that has a direct effect on the price of SHIB is the burn mechanism that has been put in place. This reduces the supply of SHIB in circulation and will eventually affect price positively.
