16 Best DeFi Coins to Invest in for 2024

The world of DeFi continues to grow, with new projects being launched left and right. But what are the best DeFi coins to invest in? The answer to that question is not so simple. 

Still, our professional investors and crypto experts made a list of the most attractive DeFi coins to buy, along with a short overview of each. Without further ado, let’s check out the available options.

  • Exciting multi-chain meme coin expected to explode during 'DOGE day' in April, also offers staking rewards.
  • Dogeverse offers seamless interoperability with Wormhole and Portal Bridge offering secure navigation between chains
  • Investors can choose their preferred chains that offer lower fees and instant processing times, boosting the trading process.
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • BNB
    BNB
  • Matic
    Matic
  • +1 more
  • Recent Solana meme coin with potential to go viral amid SOL animal token craze
  • Rumored to be from the same team behind SLERF which exploded earlier this year
  • Similar to Slothana which recently raised $15m and has since seen a strong launch
Project Launched
May 2024
Purchase Methods
  • SOL
    SOL
  • Groundbreaking ERC20 token combining two trending niches: Meme and AI
  • Buy and stake $WAI tokens for daily passive rewards up to 1949% p/a
  • Presale has already raised over $350k so far highlighting its 100x potential
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • BNB
    BNB
  • Matic
    Matic
  • +1 more
  • An exclusive Solana GameFi token hits $300k mark within hours of launch
  • Harnessing the lightning-fast speeds and cost-effective features of the SOL blockchain $DICE offers a unique gambling experience
  • Offers massive airdrops for casino players in excess of $2.25M, as well as NFTs, early-bird bonuses and a referral program
Project Launched
April 2024
Purchase Methods
  • SOL
    SOL
  • ETH
    ETH
  • BNB
    BNB
  • Revolutionary Learn-to-Earn crypto project offering $99BTC rewards when users complete quizzes, learning modules and much more.
  • $99BTC token holders gain exclusive access to advanced trading courses, trading webinars, and VIP community groups.
  • Offers massive staking rewards currently above 120,000% as well as multichain functionality via Ethereum and BSC.
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • Debit
    Debit
  • BNB
    BNB
  • +1 more
  • One-of-a-Kind Immersive VR Gaming Project
  • 12-Round Presale Looking to Raise $15M
  • 5SCAPE Holders Get Exclusive In-Game Advantages
Project Launched
January 2024
Purchase Methods
  • ETH
    ETH
  • Matic
    Matic
  • BNB
    BNB
  • USDT
    USDT
  • Debit
    Debit
  • +2 more
  • Hot meme coin project with play to earn utility and staking
  • Price has pumped 10x in last month, rumored to be listing on Binance
  • Over 12k holders and growing
Project Launched
December 2023
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • Debit
    Debit
  • Next big Solana meme coin, emulating 100x success of Pepe, Bonk, Myro and Dogwifhat.
  • 35% of the total supply is set aside for airdrops distributed on Solana.
  • Earn airdrop points through Smog social interactions, quests, and on-chain activity.
Project Launched
February 2024
Purchase Methods
  • SOL
    SOL
  • USDT
    USDT
  • BONK
    BONK
  • ETH
    ETH
  • +1 more
  • Over $500k Raised and 300% Staking APY on Offer
  • AI-Driven, Sustainable Transport Solution Designed to Revolutionize Transportation in Developing Nations
  • Exciting eTukTuk Play-to-Earn Game In the Making
Project Launched
June 2023
Purchase Methods
  • BNB
    BNB
  • Debit
    Debit
  • ETH
    ETH
  • USDT
    USDT
  • +1 more
  • An AI-driven ERC20 token with rewarding presale staking opportunities
  • Buy and stake $KAI tokens to earn up to 30,643% APY rewards
  • Within hours of launching, the $KAI presale has raised over $175k
Project Launched
May 2024
Purchase Methods
  • BNB
    BNB
  • ETH
    ETH
  • USDT
    USDT
  • Debit
    Debit
  • +1 more
  • World's first crypto project that facilitates buying, selling, and trading of luxury cars
  • Invest in luxury vehicles with fractional investments starting from just $10
  • $DCARS holders can earn daily rewards from rentals. Dreamcars presale has already raised over $250k
Project Launched
May 2024
Purchase Methods
  • ETH
    ETH
  • BNB
    BNB
  • A high-stakes battle project where the Wild West meets crypto
  • $SHIBASHOOT holders can buy and stake their tokens for passive rewards
  • Offers a Posse Rewards referral program where players can earn bonus tokens
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • BNB
    BNB

16 Best DeFi Coins to Buy Today

We have narrowed down the list of the best DeFi coins to watch in 2024 to the following options. Some are new and still looking to break through to the mainstream, while others are already established cryptocurrencies. Here they are.

  1. Dogeverse – Overall the best DeFi coin with an over 50% staking APY. Raised over $15M.
  2. Sealana – Latest Solana meme coin, raised over $2.5M.
  3. WienerAI – New DeFi coin with high staking APY and high investor traction.
  4. Mega Dice Token – Hot new GameFi token with daily staking rewards, raised $1.2M+
  5. 99Bitcoins Token – Popular Learn-to-Earn platform with a high staking APY.
  6. 5th Scape – Virtual reality ecosystem allowing users to engage in hyper-realistic environments.
  7. Sponge V2Upgraded meme cryptocurrency offers P2E rewards and up to 205% staking APYs.
  8. SmogMeme token with a fair launch that offers a 42% staking APY.
  9. eTukTuk – Innovative DeFi cryptocurrency that promotes EV adoption. $780K raised on presale.
  10. KAI – ERC-20 token offers up to 6,812% staking rewards. $260K raised on presale.
  11. Shiba Shootout – Leading Dog-themed coin promising multiple utility ideas
  12. PlutoSwap – Upcoming AI-powered DEX aggregator, now in a token presale phase.
  13. BlastUP – Most promising DeFi coin to buy right now
  14. Battle Infinity — DeFi cryptocurrency supporting P2E, staking, and much more. 
  15. Avalanche — One of the fastest smart contracts crypto networks. Over $12.4 billion market cap.
  16. Uniswap — Popular choice amongst DeFi enthusiasts. Live market cap of $4.6 billion.

Our Analysis: Best DeFi Crypto Projects

Here are detailed overviews of the best DeFi coins to buy in 2024.

1. Dogeverse – Overall the Best DeFi Coin with an Over 50% Staking APY

Dogeverse ($DOGEVERSE) is currently the #1 DeFi token that’s caught investor attention. It’s a multi-chain Doge token that aims to unite different crypto communities through a unique approach. 

The platform lets users easily navigate across major blockchains like Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.

$DOGEVERSE holders can stake their tokens for high staking rewards. At the time of writing, the platform offers an over 50% APY.

Early buyers can grab $DOGEVERSE for only $0.00031 at the time of writing. The presale strategy is designed to be quite simple and accessible– It lets users buy and claim $DOGEVERSE tokens on their preferred blockchain.

Dogeverse presale

The story of Cosmo – ‘the chain-hopping Doge’ adds an interesting storyline to the project. This is quite evident in the presale figures as the project raised over $15 million in just a few months of launch, showing huge community support.

Dogeverse has a supply cap of 200 billion tokens. 15% of these tokens are allocated to the current presale for early investors. Users can join the Dogeverse Telegram group and follow it on X for presale updates.

Hard Cap N/A
Total Tokens 200 Billion
Tokens available in presale 30 Billion
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase None
Purchase with USDT, ETH, MATIC, Card

2. Sealana – Latest Meme Coin on Solana With a Simple Presale Process

Sealana is an exciting new meme coin on Solana that follows the same presale style of Slerf and Slothana. The latter, which are sloth-themed meme coins, had tremendous success after launching, and now $SEAL aims to follow their footsteps.

This new token that revolves around a seal character who searches for the next big Solana meme coin has raised over $2.5 million so far, showing strong investor demand for this type of coins.

sealana token presale

Buy Sealana by sending SOL directly from your decentralized wallet like Phantom or Solflare to DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c and you’ll get your $SEAL tokens airdropped to the same wallet after the presale ends.

Alternatively, visit the Sealana presale site and use SOL or USDC on the Solana blockchain or ETH, USDT or a card on the Ethereum blockchain. Whichever option you choose, one $SEAL has a flat price of $0.022 that doesn’t go up during the presale.

Presale Started May 2024
Purchase Methods SOL, ETH, USDT, USDC, BNB
Chain Solana
Hard Cap N/A
Min Investment None
Max Investment None

3. WienerAI – New DeFi coin with great potential

WienerAI ($WAI) is a another option for investors who are looking for the best DeFi coins to invest in. Since launching on presale, $WAI has taken the cryptocurrency market by storm due to how it blends two trending concepts – meme coins and artificial intelligence. 

By combining the fundamentals of AI with canine, $WAI is appealing to AI and meme enthusiasts, bringing together two in-vogue communities together. The token launched at a perfect time when meme coins are enjoying good attention from investors. This factor alone positions $WAI for success. 

$WAI

WienerAI stands out among its peers with its straightforward and pragmatic roadmap that emphasizes community and project development. In addition, $WAI’s tokenomics was designed with community members in mind. To an extent, the token distribution mirrors the team’s dedication to community building through engagement and rewards. 

More so, the project team allotted 30% of the token’s total supply to the presale. The huge allocation is a perfect opportunity for investors to buy one of the best tokens with promising potential.

Presale Started April 2024
Purchase Methods ETH, USDT, MATIC, BNB
Chain Ethereum
Hard Cap N/A
Min Investment None
Max Investment None

4. Mega Dice Token – Hot New GameFi token with Daily Staking Rewards, Raised $1.2M+

Mega Dice Token ($DICE) is another popular DeFi coin to watch out for in 2024. It’s quite a popular crypto casino where people can bet over $50 million monthly. 

The platform has over 10,000 active monthly users and has raised over $1.2 million in just a few weeks of launch.

If you stake $DICE, you can earn a share of the casino’s profits. Early buyers can buy $DICE for just $0.075 at press time. However, this price will increase in the next presale round.

Moreover, inviting your friends to the presale can help you earn 10% of their investment (with no upper limit).

Mega Dice Token Presale

The platform has a supply cap of 420 million tokens. 35% of these will be sold in the presale, 15% will be given out as airdrops to players, and 10% will be used for staking. This means that most of the tokens will be given to the community in one way or another.

To buy $DICE tokens, you can connect your Solana or Ethereum wallet to the presale site. You can pay using SOL, ETH, or BNB.

Users can follow Mega Dice Token on X and enter its Telegram group for more information.

Hard Cap N/A
Total Tokens 420 million
Tokens available in presale 147 million
Blockchain Solana Network
Token type SPL
Minimum Purchase None
Purchase with SOL, ETH, BNB, USDT, Card

5. 99Bitcoins Token – Popular Learn-to-Earn Platform with a High Staking APY

Another DeFi coin to watch out for is the 99Bitcoins Token ($99BTC). The platform offers huge staking rewards to its presale investors. Users who currently stake $99BTC can earn a massive APY of over 1,130%.

The platform recently launched a presale for its native $99BTC tokens – where early buyers have a chance to buy the tokens for just $0.00106 at the time of writing. However, this price will increase in the next presale round.

99Bitcoins is currently one of the best online learning resources for crypto. It has over 700,000 YouTube subscribers and more than 2 million registered users for its crypto courses. Now, it’s leading the way with a new Learn-to-Earn (L2E) model to reward users for learning.

99Bitcoins token presale

The platform offers interactive modules, quizzes, and tutorials that work for different learning styles. Users also get access to exclusive content, trading signals, and community groups, making the overall learning experience even better.

It also has plans to bridge its token to Bitcoin’s BRC-20 standard. This can massively increase the token’s security and utility, especially as Bitcoin becomes more popular for building dApps.

99Bitcoins is also hosting an airdrop – where it’s offering $99K worth of Bitcoin to early supporters. You can join the 99Bitcoins Token Telegram channel and follow it on X (Twitter) for the latest updates.

Hard Cap $11,070,675
Total Tokens 99 billion
Tokens available in presale 10,395,000,000
Blockchain Ethereum
Token type ERC-20
Minimum Purchase N/A
Purchase with ETH, BSC

6. 5th Scape – Native Token of a New Virtual Reality Gaming Environment 

The next DeFi coin to invest in is 5th Scape ($5SCAPE). This virtual and augmented reality environment allows players to join an immersive gaming experience. 

Based on the Ethereum blockchain, $5SCAPE is compatible with prominent decentralized finance ecosystems. This allows for seamless integration with Ethereum-based tokens and smart contracts.

5th Scape presale

Token holders can access a magnitude of VR gaming environments – all set to release across 2024. The first game which is stipulated to be released by Q2 2024, is ‘Cage Conquest’ – an MMA-themed virtual reality environment. As more games are launched on this brand-new ecosystem, the popularity of $5SCAPE may rise.

Currently, the token is being allocated through 12 presale rounds. At the time of writing, $5SCAPE is priced at $0.00187 during the first round. By the final round, the price will surge to $0.0087 per token. 

According to the 5th Scape whitepaper, the exchange listing price is set at $0.01 per token. By the end of the presale, this new DeFi coin aims to raise a whopping $15 million. So far, 5th Scape has raised more than $25K in only a few days. 

Join the 5th Scape Telegram channel to learn more about this new DeFi token. 

Presale Started January 2024
Purchase Methods ETH or USDT
Chain Ethereum
Hard Cap $15 million
Min Investment None
Max Investment None

7. Sponge V2 – Top DeFi Crypto Project With High Minimum APY Of 205%

Sponge V2 (SPONGEV2) is evolving from the success of the $SPONGE meme coin.

This upgrade from the original Sponge V1, which saw a 100-fold increase in market value, aims to transition from a meme-focused approach to offering even more practical utility and high staking rewards. 

Sponge V2 homepage

It offers a Play-to-Earn (P2E) game and a high staking Annual Percentage Yield (APY) of up to 205%. The project also aims for listings on major exchanges like Binance and OKX.

The project has a “Stake-to-Bridge” mechanism, allowing users to easily convert V1 tokens to V2, locking in their V1 holdings. 

 Early V2 investors receive immediate purchase bonuses, while V1 holders can stake for rewards in V2.

Sponge V2’s total token supply is 150 billion, with a significant 43.09% reserved for staking rewards. An additional 8% is earmarked for incentives in its P2E game, encouraging active participation in the Sponge ecosystem. 

The project’s broader strategy includes marketing initiatives and leveraging the 30,000-strong community established by Sponge V1. 

Potential investors can stay updated on Sponge V2’s developments and exchange listings by following its social media channels, including Twitter, and joining its Telegram group.

Hard Cap N/A
Total Tokens 150 Billion
Tokens available in presale N/A
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase None
Purchase with USDT, ETH, Card

8. Smog – Meme Token With a Fair Launch That Offers A 42% Staking APY

The next best DeFi coin to buy is Smog. Smog has set itself apart after launching on the Jupiter DEX on February 7 with a genuinely fair launch and engaging airdrop campaign.

With an initial market cap of $2 million, Smog saw an over 2000%+ surge in the first week of launch. After witnessing massive investor interest, the meme token’s market cap stood at over 150 million at the time of writing.

Smog is designed to offer short-term gains through its significant airdrop giveaways and long-term benefits with a 42% APY staking mechanism. Per its website, Smog aims to offer the greatest Solana airdrop of all time.

Smog token page

Fifty percent of its 1.4 billion total supply is allocated to marketing as Smog aims to establish itself as the leading meme token in the Solana ecosystem.

The token is available in ETH or USDT from the Smog website, ensuring wide access and inclusivity for investors who transact across blockchains. Users can read Smog’s whitepaper to know more about its long-term goals and plans. 

You can also enter the Smog Telegram group and follow it on X (formerly Twitter) to get the latest updates.

9. eTukTuk – Cardano-Based DeFi Cryptocurrency Rewarding Users Through EV Charging Stations

eTukTuk is the world’s first automotive project on the blockchain. The project’s purpose is to reduce air pollution and carbon emissions by promoting sustainable forms of transport.

While the TukTuk industry purely depends on internal combustion engines (ICEs), they use non-renewable energy such as fossil fuels to function. Furthermore, ICEs release more carbon dioxide in the air than cars.

eTukTuk presale

eTukTuk is on a mission for TukTuk drivers in developing nations to make the switch to Electric Vehicles. The platform will build Electric Vehicle Supply Equipment (EVSE) and zero-emission vehicles (ZEVs).

It will also release a Driver app, through which TukTuk drivers can charge their EVs and make payments with the native token, $TUK.  The plants will be created by working with territory partners.

These partners will work with eTukTuk to operate and maintain the charging stations. They will also get paid a portion of the transactions revenue generated and get paid in $TUK. 

Token holders can stake $TUK to contribute towards the maintenance of the platform. They will get paid APYs (Annual Percentage Yields) from a staking pool.

As the number of plants increases, the platform will generate more revenue, and thus staked holders can increase their earnings.

Currently, $TUK is priced at $0.02625 on presale. Since the presale launched, eTukTuk has raised more than $780K.

Users can sign-up for the token whitelist right now, and get early access to the presale. In the mean time, check out the eTukTuk whitepaper and join the Telegram channel to get more information on this platform.

10. KAI – ERC-20 Meme Token Offers Staking and Community Rewards

The next DeFi token on our list is KAI ($KAI), a trending meme coin that offers huge staking and community rewards. An ERC-20 token, KAI is built on the Ethereum blockchain, which offers high scalability and security. 

KAI is a cat-themed meme cryptocurrency that aims to compete with popular Doge coins such as Shiba Inu and Dogecoin. It offers multiple rewards and passive income, giving it an edge over other meme tokens. 

KAI presale

KAI allows token holders to stake their holdings on smart contracts. Currently, investors can stake $KAI and earn an annual yield of up to 6,812%. From a total supply of 10,000,010,404, 22 million tokens are already staked on KAI.

Another 25% of the token supply will be allocated as Purr points. These are offered to community members that actively participate and engage within the ecosystem. 20% of the token supply is currently being distributed through the presale. 

At the time of writing, $KAI is priced at $0.0041836 per token. The presale has raised over $260K in a few weeks. Read the KAI whitepaper and join the Telegram channel to learn more about this cryptocurrency. 

Hard Cap N/A
Total Tokens 10,000,010,404 KAI
Tokens available in presale 2,000,002,080 KAI (20%)
Blockchain Ethereum
Token type ERC-20
Minimum Purchase N/A
Purchase with ETH, USDT, BNB Credit Card

11. Shiba Shootout – Leading Dog-themed coin promising multiple utility ideas

The next on our list of the best DeFi coins around is Shiba Shootout ($SHIBASHOOT). The crypto project presents itself as one of the top options for investors scouting for tokens that offer huge ROI.

Foremost, don’t forget that $SHIBASHOOT commenced its presale in April 2024 – a month that marks both the recent Bitcoin halving event and the annual Doge Day. $SHIBASHOOT is expected to ride on the excitement around these two significant events and the growing appetite for cryptocurrency to gain market credibility. 

Shiba Shootout Best Altcoin

$SHIBASHOOT is on a mission to prove that it rules the Wild West crypto frontier, a campaign that is powered by its humorous characters – Marshal Shiba and Shiba Sharpshooters. To attain this height, the project promises to offer utility and value, setting it apart from traditional meme coins. 

Above all, investing in the token empowers you to enjoy multiple upsides – staking rewards, referral bonuses, lotteries, and mouthwatering returns through its savings program.

Presale Started April 2024
Purchase Methods ETH, USDT, BNB, CARD
Chain Ethereum
Hard Cap N/A
Min Investment None
Max Investment None

12. PlutoSwap – AI-Powered DEX Aggregator and a DeFi Platform

PLUTO, the native token of the upcoming PlutoSwap DEX aggregator, could be one of the best DeFi coins to buy now. That’s because it’s now in a token presale phase where you can buy it cheaper before it lists on major exchanges.

Moreover, holding PLUTO will give you voting rights over the PlutoSwap development direction. The presale marks phase one of the roadmap, while in phase 2, the token will launch and will be listed on MEXC and other exchanges.

Pluto Swap

Phase 3 will see the deployment of the DEX aggregator on multiple layer 2 blockchains, per the PlutoSwap whitepaper.

Make sure to follow PlutoSwap on X and join the PlutoSwap Telegram channel for the latest information on the proejct.

Presale Started February 2024
Purchase Methods ETH, USDT, USDC, BNB, Card
Chain Ethereum
Hard Cap N/A
Min Investment None
Max Investment None

13. BlastUP – Most Promising DeFi Coin to Buy Now

BlastUP’s presale success, fueled by its multiple utilities, positions it as one of the hottest DeFi coins in the market right now.

Given its current price and promising trajectory, analysts have already identified BLP’s ongoing presale as an attractive entry point for everyone who wants to capitalize on the bullish trends in the market to increase their bags.

BlastUP

Renowned as the pioneering launchpad on Blast, BlastUP is gradually becoming a force to reckon with in the blockchain landscape, providing a friendly enablement for startups to flourish. Furthering its appeal is its extensive roadmap that conveys its plans to introduce AI-driven tools and a community marketplace for the benefit of all participants in the ecosystem. 

Despite the innovative concept and offerings of BlastUP, its native token, BLP is currently priced at a mere $0.06 per token. That said, the price of the DeFi coin is expected to increase as the project progresses to the next round of its presale. As such, this window represents a significant opportunity for those interested in the token to buy BLP at a cheap price.

The presale is expected to come to a close on May 31, 2024 with $0.1 as its expected listing price. This means anyone who buys BLP right now will savor up to 66% gains on their initial investment when it launches on DEX.

Token symbol BLP
Total supply 1 Billion
Presale supply 200 Million
Network Ethereum
Purchase methods BNB, ETH, MATIC, USDT

14. Battle Infinity – DeFi coin supporting P2E, Staking and Much More

Battle Infinity — DeFi coin supporting a robust P2E project

Battle Infinity is a platform that hosts several battle games based on P2E, all of which are part of a single metaverse dubbed “The Battle Arena.” In addition to playing exciting games, players can enjoy the immersive virtual world, which they can explore and interact with.

Those who own IBAT, the project’s native token, can stake their holdings and receive benefits while active on the platform.

The project immediately attracted DeFi and crypto enthusiasts thanks to its unique system. In fact, it sold out all its presale tokens 65 days before the presale was supposed to end. The IBAT token continued strong, although its price decreased over time.

Battle Infinity

IBAT’s price reached an all-time high on August 30, 2022, shortly after the project went live, with a single token costing $0.005538. The max supply is set to 10,000,000,000, and a total of 32% of IBAT is currently in circulation, although this is a self-reported circulating supply.

It’s safe to say that this project is in a similar position to Tamadoge, as there’s so much planned for it, yet the IBAT token’s price has steadily declined after the initial hype. If you’re looking for the best DeFi investments and are a hard-core gamer who loves shooters, learn more about Battle Infinity and the pros and cons of investing in IBAT.

15. Avalanche – One of the Fastest and Most Eco-Friendly Smart Contracts Crypto Networks

Avalanche — affordable Layer-1 blockchain turning investors’ heads since 2021

Avalanche was initially named the Ethereum killer thanks to its unique approach to transaction processing. Instead of one blockchain, it uses three chains (C-Chain, X-Chain, and P-Chain) to settle transactions. P-Chain is mainly used by network validators, X-Chain is for AVAX transactions (the native Avalanche token), and C-Chain is for processing Web3 and DeFi coins.

The project peaked in 2021, with many P2E games and other Web3 projects introduced to its network. Currently, AVAX is trading at around $20, but that is likely to change soon as it’s a popular and highly-volatile asset. AVAX reached an all-time high on November 21, 2021, with a single unit costing $146.22.

Unlike all the other new cryptos mentioned above, Avalanche is not a DeFi project with a specific use. Instead, it’s a platform that allows building and launching DeFi projects.

So, what makes Avalanche different from, say, Ethereum or Cardano? There are several reasons AVAX made it to this list, but the main one is its unique consensus mechanism based on the directed acyclic graph (DAG) protocol, which could be helpful in the rapidly-evolving crypto space.

Moreover, AVAX has an excellent burn mechanism, burning all fees that benefit the Avalanche community. That’s why it’s still considered one of the best DeFi cryptos.

16. Uniswap – DeFi Platform With an Automated Market Maker

Uniswap — DeFi AMM exchange’s coin

Uniswap is a decentralized cryptocurrency exchange built on the Ethereum blockchain. It allows users to trade cryptocurrencies without needing a centralized intermediary or order book. Instead, Uniswap uses an automated market maker (AMM) system with a mathematical algorithm for calculating asset prices based on supply and demand.

In Uniswap, users can provide liquidity by depositing pairs of cryptocurrencies into liquidity pools, and in return, they receive liquidity provider (LP) tokens representing their share of the pool. The price of assets in each pool is determined by a constant product formula that balances the two assets.

Uniswap is currently trading at $6.15, although the exchange’s native token reached an all-time high of $44.97 in May 2021. The coin features a maximum supply of 1,000,000,000 UNI, with 76% already in circulation.

Thanks to its unique and revolutionary mechanism, Uniswap is still the favorite of many investors. It’s currently ranked #18 in terms of overall market cap, which is north of $4 billion.

Many considered Uniswap the best DeFi project when it was launched, but competitors started appearing soon after. Still, we believe it’s worth considering UNI when researching where to invest your funds, as it remains an influential DeFi crypto owned by hundreds of thousands of investors.

What is a DeFi Coin?

A DeFi coin is a cryptocurrency designed to facilitate decentralized finance (DeFi) activities. It is typically used to pay transaction fees, stake in protocols, and provide liquidity to DeFi markets.

Protocols often issue DeFi coins, and holders benefit from these protocols’ activities. They can be earned passively or actively, depending on the type of DeFi coin and the protocol.

For example, holders of the Compound’s COMP token can receive rewards for providing liquidity to the Compound protocol or earn fees for participating in peer-to-peer lending.

It’s like a farmer who grows crops and then profits from selling them at the market or renting out their land to others. The farmer benefits from the activities they do with their land, and the same is true for DeFi coin holders, who benefit from the activities of the protocols they are connected to.

DeFi coins have the potential to offer holders greater returns than traditional investments, as well as offer greater access to the DeFi ecosystem.

How Does DeFi Cryptocurrency Work?

DeFi cryptocurrency is a digital asset that utilizes blockchain technology to enable decentralized finance applications. It allows users to access financial services without a central authority or middleman. This enables users to access loans, insurance, and investments safely and securely.

Nowadays, there are many DeFi cryptocurrencies, and they all serve different purposes. For example, one could argue that Ethereum is the most popular DeFi cryptocurrency, as its primary purpose is to create decentralized applications.

In contrast, other cryptocurrencies, such as Chainlink and Uniswap, are used for providing liquidity and trading services. Strictly speaking, platforms such as Ethereum and Cardano aren’t perceived as DeFi, but they essentially are, given that they’re home to some popular DeFi projects.

What Are the Benefits of DeFi Crypto?

Decentralized Finance (DeFi) crypto offers several benefits, including:

  1. Decentralization — DeFi crypto operates on a decentralized network, meaning it is not controlled by a single entity or authority. This feature promotes trust and transparency by eliminating the need for intermediaries like banks, governments, and financial institutions.
  2. Flexibility — DeFi crypto gives users more flexibility regarding financial services, such as lending, borrowing, and investing. Users can also create customized financial products and services according to their needs.
  3. Many use cases — We’re only beginning to explore the power of DeFi and cryptocurrencies. From ecology-focused projects to P2E games: we’ve already seen many interesting uses, and many more are likely to pop up.
  4. Security —  DeFi crypto is secured by blockchain technology, which provides an immutable and transparent record of transactions. It reduces the risk of fraud, hacking, or other forms of cyber attacks.
  5. Early mover advantage — Being easy to use, DeFi cryptos could prove profitable, provided you find and invest in suitable projects during their presale periods or early after the launch.

Is DeFi Crypto a Good Investment?

Investing in DeFi crypto isn’t different from investing in Bitcoin or any other type of cryptocurrency. Simply put, it involves high risk, so it’s important to do thorough research before investing. It is also essential to keep up with the latest news and trends in the industry to remain informed and make educated decisions. 

Our experts decided to help you by doing the heavy lifting and finding suitable investment opportunities. However, you should never forget that the decision to invest in DeFi crypto is ultimately personal.

For those interested in DeFi crypto check out our article on the best crypto 2.0 coins in 2024.

Is DeFi Crypto Safe?

DeFi protocols are built on blockchain technology, known for security and transparency.

However, DeFi protocols are still relatively new and untested, and there have been instances of hacks and other security issues. Researching and understanding the risks before investing in DeFi projects is essential. 

On the other hand, DeFi protocols offer a lot of potential for earning high returns on investment, and many people believe the risks are worth it. DeFi protocols are still evolving and becoming more secure, and the more people use them, the more likely it is that issues will be discovered and solved quickly.

Ultimately, it’s up to us to research every DeFi coin and project before investing, especially if you’re investing a substantial amount. 

Remember that even the best DeFi project doesn’t come with guaranteed profits, as the industry is highly volatile and rapidly evolving. A project that seems promising and revolutionary today may be overshadowed by a better and bigger DeFi project in the future. That’s why following the news is also crucial for crypto investors.

Conclusion

These DeFi cryptocurrencies are a great way to utilize the decentralized finance industry. They offer users a secure, transparent, and trustless way to access financial services without a centralized intermediary. 

People claim that DeFi is revolutionizing the way the world interacts with finance. While that’s true, the best DeFi tokens have the power to revolutionize other industries as well.

We think 5th Scape offers the best upside potential. Being a virtual reality ecosystem, it allows users to engage in hyper-realistic environments.

FAQs

What is the best DeFi crypto to buy?

Is Cardano a DeFi crypto?

What are the top 5 DeFi coins?

Alan Draper
Editor
Alan Draper
Editor

Alan is the Editor-in-Chief of Techopedia and is responsible for ensuring all the content is accurate, up to date, and relevant. Alan has previously worked in writing and editorial capacities for several leading websites, such as Business2Community and TechReport.