A large number of cryptocurrencies are built on top of the Ethereum blockchain. All of these crypto projects use the ERC-20 token standard as it is the token standard for the Ethereum blockchain. There are many ERC-20 tokens that provide services in different DeFi sectors, including blockchain games, decentralized exchanges, decentralized applications, etc. With so many cryptocurrencies, it becomes very confusing to decide which ERC-20 tokens to buy.
In this guide, we have listed some ERC-20 tokens in different sectors that are worth investing in 2024. Read on to see our top eight picks and their detailed descriptions. We also cover some reasons why ERC-20 tokens can be a good investment and present a step-by-step guide explaining how to buy these Ethereum-based tokens.
Top ERC-20 Tokens to Buy in January 2024
There are many cryptocurrency projects built on the Ethereum blockchain that use the ERC-20 token standard. Therefore, we have selected the most innovative and profitable projects through in-depth research. In the next section, you will also find a detailed review of each ERC-20 token in the list.
Bitcoin Minetrix – A fast-growing ERC-20 project with huge potential
Sponge V2 – The memecoin project following the success of Sponge V1
Meme Kombat – A meme project with an innovative game concept
Launchpad XYZ – The best ERC-20 token in the Web 3 space
yPredict – AI-based ERC-20 token fund
Wall Street Memes – Best ERC-20 Meme Coins for 2024
Tether – The most popular stablecoin based on Ethereum
Ethereum – The most popular ERC-20 token incorporating a PoS layer
Basic Attention Token – Ethereum-based crypto project for the advertising space
Uniswap – Popular ERC-20 token for a widely used decentralized exchange
Chainlink – A successful ERC-20 token designed to power the Ethereum ecosystem
OmiseGo - ERC-20 token that provides a decentralized exchange of fiat-to-cryptocurrency
Top ERC-20 Tokens Fully Reviewed – Full List
In this section of the guide, you will learn about the top ERC-20 tokens that we think are worth buying in 2024. These tokens aim to revolutionize the fields of blockchain gaming, cryptocurrency exchanges, blockchain development, etc. What makes them a good investment is first of all their goals and strong plans for introducing new ideas and solutions. All projects and their descriptions are presented in detail individually.
Bitcoin Minetrix – A fast-growing ERC-20 project with huge potential
Bitcoin Minetrix is poised to revolutionize the Bitcoin mining industry, making it more actionable for a wider audience, including retail investors. Traditionally, Bitcoin mining has been considered an expensive investment, but this innovative project has changed that perception. Through Bitcoin Minetrix’s ecosystem, users can lock their BTCMTX tokens in Ethereum-powered smart contracts, thereby earning cloud mining credits.
The impetus for the project came in response to widespread scams by third-party cloud mining providers. By tokenizing these assets, Bitcoin Minetrix not only provides a safer path, but also brings greater transparency to the entire process. Locked token holders can exchange their points for Bitcoin mining power, thereby ensuring a share of mining revenue.
Bitcoin Minetrix has put 70% of its token supply into presale, with an ambitious goal of raising $32 million through ten rounds. The project has already seen notable success, raising over $100,000 in just one day.
By lowering the barrier to entry and introducing a more cost-effective cloud mining solution, Bitcoin Minetrix becomes a strong contender for the best cryptocurrency of the year. It is worth noting that the current annualized yield for staking BTCMTX tokens is impressive at over 7000%, making it an attractive ERC-20 token for potential investors.
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Sponge V2 – The memecoin project following the success of Sponge V1
Sponge V2 is a popular memecoin, a token that uses ERC-20 tokens, marking the second coming of Sponge V1. Sponge V1 was one of the most popular memecoins during the memecoin craze, but soon disappeared after skyrocketing 3200% on the price chart.
However, despite the correction that Sponge V1 has gone through, investors have continued to support the token, stabilizing its market cap at over $10 million. As the Sponge V1 community continues to grow, Sponge V2 is becoming the best ERC-20 token investment option currently.
The reason lies in the project’s fundamental staking mechanism. First, the only way to get Sponge V2 right now is through staking. Using the unique staking-bridging property, Sponge V1 holders can stake their tokens and get Sponge V2 when it eventually launches. Buyers can do the same, as the official sponge.vip website allows for the simultaneous purchase and staking of Sponge V1.
Those who continue to stake their Sponge V1 tokens long term will receive a generous annualized yield even after the token launch. The minimum annualized yield available is 40%. These rewards will be distributed over a 4-year period.
Secondly, with the introduction of P2E games, the Sponge ecosystem will also usher in more benefits. When the game is launched, Sponge V2 will be used to purchase game points and as a reward token. This will bring a circular economy to the Sponge ecosystem, allowing it to prosper for a longer period of time.
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Meme Kombat – A meme project with an innovative game concept
Meme Kombat has recently become a prominent ERC-20 token that has attracted considerable attention. This gaming project introduces an innovative gaming platform where players can battle and gamble against other players and AI characters representing various meme projects.
By leveraging blockchain technology and artificial intelligence, Battle Arena ensures fairness, security, and transparency of all bets and outcomes. In addition to standard winner bets, Battle Arena offers other betting options, allowing players to speculate on various aspects, including initial moves and winning methods.
The $MK token not only facilitates staking, but can also be staked, a prerequisite for gambling. Through this process, token holders can earn an impressive annualized rate of return, currently 112%. An outlier among memecoin projects, Meme Kombat only offered a modest supply of 12 million tokens. The presale allocated 50% of the supply at a price of $1.667 per token, setting a hard cap of $10 million, making Meme Kombat an attractive ERC-20 token that offers a compelling investment opportunity.
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Launchpad XYZ – The best ERC-20 token in the Web 3 space
Recently, the NFT market has seen a bearish trend, causing major NFTs on the market, such as BAYC and CryptoPunks, to fall below $100,000. Therefore, it is necessary for investors to start exploring different projects. One of the projects that has attracted the attention of the community is Launchpad, which provides a promising investment option for NFT enthusiasts.
Launchpad XYZ will help users understand and master the art of the Web3 ecosystem, from detailed analysis and insights to industry sentiment and related information.
The platform also allows users to find lists of popular NFTs, identify the potential of the latest NFT releases, and curate their own collections in the NFT Gallery. Launchpad XYZ will rank assets according to their Launchpad XYZ Quotient (LQ), which will give users ideas on which assets to buy or sell.
Launchpad XYZ’s decentralized exchange allows users to trade over 100 crypto assets, while its NFT decentralized exchange allows peer-to-peer trading of non-fungible tokens. Launchpad’s native token, LPX, is currently in presale, and investors can obtain LPX tokens on Launchpad XYZ’s website.
Funds raised from the LPX token presale will be used for multiple activities including DEX market development, platform development, user acquisition, and core team. Become an early investor and potentially reap exponential returns.
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yPredict – An AI-based ERC-20 token
yPredict (YPRED) is a brand new platform that uses artificial intelligence technology to provide innovative tools for cryptocurrency investors. With its cutting-edge predictive models and data analysis, yPredict has been recognized in the cryptocurrency industry for its revolutionary products.
One of yPredict’s standout features is the toolkit it provides to investors. This includes real-time trading signals from experts, sentiment analysis, technical AI, and identification of over 25 chart patterns. Users can earn YPRED tokens to access these features.
In addition, yPredict is committed to rewarding users. As the platform generates new subscriptions through artificial intelligence, it distributes 10% per subscription to holders of YPRED tokens who stake them. This means you can earn up to 45% per quarter while enjoying advanced trading features and accurate predictions.
To make the most of this opportunity, you can purchase YPRED tokens at a discounted price of $0.05 in the ongoing presale. Notably, yPredict has already raised an impressive $480,000 and is still growing. Don’t miss your chance to get involved in one of the best cryptocurrency projects of 2023.
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Wall Street Memes – Best ERC-20 Meme Coins for 2024
Wall Street Memes ($WSM) is another ERC-20 token worth considering. It has gained huge attention over the past two days for raising over $250,000 in two days of its Phase 1 presale launch. Additionally, it has a strong social media following of 1 million supporters, increasing its credibility, future potential, and investor confidence.
Given that market sentiment and community strength play a crucial role in the success of any memecoin, $WSM is expected to be on par with its peers such as BitTorrent and Dogecoin.
Wall Street Memes is deployed on the Ethereum blockchain and is an ERC-20 token with a total supply of 2 billion. The token can currently be purchased directly from the OKX exchange.
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Tether – The most popular stablecoin based on Ethereum
Tether is a stablecoin whose value is pegged to the US dollar, which means that its value should remain stable and equal to 1 US dollar. Stablecoins are designed to achieve this goal - not be affected by the volatility of cryptocurrencies and have a stable value. To achieve this goal, they are backed by other assets, which can be gold, dollars, euros and other assets, even cryptocurrencies. Tether is one of the first stablecoins. It was founded in 2014 and was initially named Realcoin, but it was quickly changed to Tether.
While several other stablecoins have emerged over the years, Tether remains one of the most popular stablecoins: it is the largest stablecoin and the third-largest cryptocurrency by market cap. In addition, Tether’s daily trading volume often exceeds that of all other cryptocurrencies. But if Tether is almost always worth $1, how can it be a good investment?
In reality, Tether is not actually an investment, but holding this stablecoin can give you many advantages. Tether’s native token, USDT, is used for various purposes. Firstly, if you want to store your funds via cryptocurrencies, Tether is always a good choice as it does not have the volatility of other cryptocurrencies. In addition, Tether is a great way to transfer funds peer-to-peer as you can send them quickly via Tether in a fast and cost-effective manner.
Another benefit of holding Tether is that it is listed on most major cryptocurrency exchanges, and you can buy it in advance and exchange it for other cryptocurrencies later. Finally, although you cannot make money by buying and selling Tether, you can earn interest by lending USDT tokens, and there are multiple platforms that support Tether lending.
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Ethereum – The most popular ERC-20 token incorporating a PoS layer
Ethereum is the second largest cryptocurrency in the world and is the reason why the other cryptocurrencies on our list of top ERC-20 tokens exist. This is because most of the popular cryptocurrencies are built on top of the Ethereum platform and use its ERC-20 token standard. As a result, Ethereum is the most popular token among them, and also the most expensive one.
The project was founded in 2014 by Vitalik Buterin, a Russian-Canadian computer programmer who was originally known as the co-founder of Bitcoin Magazine. But Vitalik thought he could apply the ideas of decentralization and blockchain to other areas besides peer-to-peer payment systems. Thus, Ethereum was formed to provide a smart contract-based platform that developers can use to build decentralized applications, new tokens, and blockchain games.
Ethereum's native token, Ether (ETH), drives the network and is used to pay gas fees charged when conducting transactions on the platform. Since Ethereum's blockchain originally used the Proof of Work consensus mechanism, ETH is mined in a similar way to Bitcoin. However, the DeFi project has just transitioned to the Proof of Stake protocol (PoS) - a most welcome merger event.
The PoS consensus mechanism changes the way new ETH tokens are minted. Now, network participants must stake their ETH tokens to contribute to the security of the network, thereby adding new blocks and receiving corresponding rewards. If a user wants to become a network validator, they must be prepared to lock a certain amount of tokens for a certain period of time and be selected as a validator by the network.
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Basic Attention Token – Ethereum-based crypto project for the advertising space
Basic Attention Token is another excellent ERC-20 token worth considering. Based on the Ethereum platform, BAT combines web browser and blockchain technology to achieve fair distribution of funds between advertisers, publishers, and consumers. The project was founded by Brendan Erich, co-founder of Mozilla and Firefox, and released its white paper in 2021. However, in 2017, the BAT token had its initial coin offering, and 1 billion tokens were sold in just 30 seconds.
What is the purpose of Basic Attention Token and how does it work? The token is used by a web browser called Brave. It tracks the experience of publishing ads and how consumers watch these ads. Based on this data, it distributes BAT tokens between publishers who publish ads, content consumers who watch ads, and advertisers. So, the idea of the project is to make digital advertising work for all three parties and distribute the rewards fairly among them.
Although Basic Attention Token is relatively new in the market, it has already gained a huge reputation. Brave browser has millions of users every day, with more than 10 million daily active users. BAT token is also very popular. It is one of the top 100 cryptocurrencies with a market cap of about $455.5 million. The maximum supply of this token is 1.5 billion BAT tokens, of which 99% are already in circulation.
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Uniswap – Popular ERC-20 token for a widely used decentralized exchange
Uniswap is the first and largest decentralized exchange built on the Ethereum blockchain. It is a decentralized platform where users can buy and sell cryptocurrencies without the intervention of any intermediary. Transactions are not controlled by any entity or financial institution, but are managed through code. Founded by Haden Adams, Uniswap was launched in 2018 and quickly became one of the leading exchanges and attracted many users.
Uniswap does not work by matching buyers and sellers in pairs. Instead, it uses a series of liquidity pools from which users can buy and sell tokens. Since Uniswap is an ERC-20 token, built on Ethereum, it only supports trading of cryptocurrencies built on the Ethereum platform. Therefore, you can find all ERC-20 tokens on this exchange and buy or sell them quickly and easily.
But who provides liquidity for these liquidity pools? Uniswap's network has liquidity providers, who are regular people who want to lock their assets in these liquidity pools. To become a liquidity provider, they must lock two different tokens at the same value. For locking their tokens, providers will receive a portion of the trading fees as well as UNI tokens as a reward.
UNI is the native token of the Uniswap network and is a governance token. This means that users holding UNI tokens can have a say in the development of the project and vote on changes to Uniswap. It is also used to reward UNI holders and liquidity providers and is used to purchase any asset in the Uniswap ecosystem.
On the occasion of the launch of Uniswap v2 in September 2022, the Uniswap team airdropped 400 UNI tokens to everyone who traded on its platform. UNI is currently the 20th largest cryptocurrency by market cap, with a market cap of over $4 billion. Its maximum supply is 1 billion UNI tokens, most of which have already been issued. This means that UNI may increase in value after the cryptocurrency market recovers or attracts huge attention.
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Chainlink – A successful ERC-20 token designed to power the Ethereum ecosystem
Chainlink is one of the most important projects on Ethereum and is an important part of Ethereum. It provides real-world data for smart contracts running on Ethereum. Chainlink is the link between the outside world and smart contracts, providing data through so-called oracles. The project has a five-year history. It was founded in 2015 by Smart Contract.
The project's co-founders Steve Ellis and Sergey Nazarov published its white paper in 2017, after which the initial token offering of its native token LINK was conducted. The team managed to sell 35% of tokens and raised $32 million in funds. The maximum supply of Chainlink tokens is 1 billion LINK tokens, of which nearly 50% of tokens have been issued, equivalent to 491.6 million tokens. One LINK token is equal to $7.2, making it the 23rd largest cryptocurrency by market cap.
In fact, LINK is extremely important for Chainlink because all transactions are carried out in LINK. In order to understand this, you need to understand how the network works. Since smart contracts are the basis of the Ethereum project and everything is built using smart contracts, they must contain a lot of data. Therefore, these smart contracts often rely on data from the outside world. And Chainlink can help get this data through oracles. The process is divided into three steps.
First, an oracle that provides a certain type of data connects with a user who needs that data. The user locks some LINK tokens in a smart contract, and then the oracle provides the data. Oracles must provide data accurately because they are rated for their work, which determines their reputation. They are also rewarded with LINK tokens.
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OmiseGo - ERC-20 token that provides a decentralized exchange of fiat-to-cryptocurrency
OmiseGo is another promising ERC-20 token worth considering. It started in 2015 to understand and figure out ways to make it easier for different payment platforms to process fund transfers. One of the tools used by the project is a decentralized exchange where you can trade fiat-to-crypto and crypto-to-crypto.
It also provides a software development kit tool that allows anyone to build simple digital wallets on the platform without having to know too much about how to build them. Since the platform is built on the Ethereum blockchain, it uses a proof-of-stake consensus mechanism and allows its token holders to stake their tokens and get rewards in its native token, OMG.
OMG is very important to the OmiseGo network because users must pay in OMG tokens to use the services of its blockchain. It is also used for locking of validators and creation contracts, and is used to reward them. If they do not complete their work properly, the OMG tokens will be returned and sent to an unusable address. This means that the number of OMG tokens may decrease over time, making OMG a scarce cryptocurrency.
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What are ERC-20 tokens?
Since Ethereum is a programmable blockchain network, developers can build other tokens and crypto projects on its platform. ERC-20 is the technical standard used on the Ethereum blockchain. Therefore, all tokens created through Ethereum are technically called ERC-20 tokens. These tokens are interchangeable, which means that you can exchange them with any ERC-20 token on the Ethereum blockchain. So, you can exchange ETH for LBLOCK, or LINK for OMG, etc.
The first ERC token was obviously Ethereum’s Ether, after its creation in 2015, many other ERC-20s were created on its platform, and there are now more than 1000 ERC-20 tokens. These tokens power different areas of DeFi: from decentralized applications that provide real-world solutions to blockchain games that incorporate P2E functionality to help you earn money while playing.
Are ERC-20 tokens a good investment?
First, one reason to invest in ERC-20 tokens is that they are all built on the Ethereum blockchain, which is a secure, decentralized, and scalable platform. In addition, the Ethereum team is constantly working on improving its platform, one example of which is Ethereum's transition from a proof-of-work consensus mechanism to a more environmentally friendly proof-of-stake mechanism.
Another great advantage is that all of these tokens can be exchanged between each other, which is a fantastic feature for traders. If you hold ETH tokens, you can quickly and easily exchange them for other ERC-20 tokens when you think it is the right time to buy another ERC-20 token. This world also presents you with a wide range of promising and reasonably priced asset options, which will also allow you to build a strong diversified cryptocurrency portfolio.
So, in short, ERC-20 tokens are certainly a good investment option right now. The Ethereum blockchain is the largest and most efficient system for smart contracts, and that is unlikely to change in the short term.
However, you need to be careful before making any investments and not to risk money that you will need after a short period of time. In addition, you need to do your own research before buying any ERC-20 tokens and take into account the risk of losing money and the volatility of cryptocurrencies.
Readers may also be interested in our guide on the best BSC tokens (Binance Smart Chain tokens based on the BEP-20 token standard).
How to Buy ERC-20 Tokens – Step by Step Tutorial
If you are interested in buying ERC-20 tokens, you need to find a good cryptocurrency broker with a cost-effective pricing structure and a rich set of trading tools. Based on our analysis, eToro is our most recommended broker to buy ERC-20 tokens in 2024. Here is a complete guide on how to buy ERC-20 tokens with eToro.
Step 1: Create an account on eToro
If you don't have an eToro account yet, visit eToro's website to create a free account. During the registration process, you will need to fill in your details such as your name, last name, email address, phone number, etc. In addition, when you register, eToro will ask you questions such as your trading plan and income situation.
After creating an account, you will need to authenticate yourself. Here you will have to do two types of authentication because eToro
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