Are you looking for the best utility tokens to buy? Utility cryptocurrencies are becoming very popular for investment purposes. Write your own cryptocurrency success story through utility tokens.
Below, we review 17 of the most promising utility tokens in this space and present the best platforms to invest in utility tokens.
Best Utility Tokens to Buy in 2024
Many cryptocurrencies can be classified as utility tokens. Investors have a variety of options to choose the best utility tokens for 2024:
- Sponge V2 ($SPONGE) – Sponge V2 is a new stake-to-bridge system based on its predecessor, $SPONGE, introducing reward-based P2E gaming and distribution of 150 billion tokens to strengthen investor participation and market presence.
- Bitcoin Minetrix (BTCMTX) – A unique utility token that tokenizes cloud mining and provides passive income.
- Meme Kombat – A unique utility meme coin that provides gaming fun and staking profits
- TG.Casino – Telegram coin casino platform that you can freely enjoy without KYC verification
- Launchpad XYZ – All-in-one portal platform for simple and effective web3 investment
- yPredict – A new concept platform that analyzes the market and assists investment with the power of artificial intelligence technology
- Tamadoji (TAMA) – Utility meme coin pumping after IEO
- Lucky Block – Best Utility Token of 2023
- APE Coin (APE) – New NFT Token
- BNB Coin (BNB) – native token of the large Binance cryptocurrency exchange
- Axi Infinity (AXS) – A key token in the Play2Un blockchain gaming field
- Curve (CRV) – utility token for large-scale Ethereum-based DEX
- Decentraland (MANA) – Decentraland metaverse native token
- Chiliz (CHZ) – Token for purchasing sports club tokens
- Yeon Finance (YFI) – The best DeFi token that brings DeFi to retail investors
- Enjin (ENJ) – Token used for Metaverse NFT minting
- Graph (GRT) – the main utility token used by dApp developers
Cryptocurrency is a volatile, unregulated investment product.
Best Time to Buy Utility Tokens Learn More
The more choices the better, but choosing the best utility token can be challenging because it also requires a lot of research. We have selected the top 17 utility tokens that are doing well in 2024.
1. Sponge V2 – An upgraded version of Sponge that offers P2E gaming and 40% staking APY.
SPONGE V2 is a new upgraded version of the original $SPONGE meme coin, whose market capitalization soared from $1 million to over $100 million in 2023.
With an active community boasting over 11,500 token holders and a market capitalization of $16 million, Sponge V2 is not only building on the success of its predecessor but is introducing innovative features to expand its ecosystem.
Key features of Sponge V2:
- Exchange Listing: The Sponge team aims to list on a major exchange such as Binance or OKX, a move that has the potential to significantly improve $SPONGE’s market presence.
- Stake-to-Bridge Model: Sponge V2 introduces a unique stake-to-bridge model, allowing users to stake their existing tokens and convert from V1 to V2. This model ensures a smooth upgrade process while rewarding continued community participation.
- P2E Games: Sponge V2’s P2E games allow players to earn additional tokens and spend $SPONGE through gameplay, increasing token utilization and promoting user participation.
Sponge V2 holds a total of 150 billion tokens, of which more than 51% is strategically allocated to staking rewards and incentives for Play-to-Earn (P2E) games.
Building on the solid foundation established by Sponge V1, the Sponge team is committed to building a strong community through an aggressive marketing strategy and aims to replicate and surpass its initial success.
For a limited period of time, investors who have acquired V1 tokens will have the opportunity to receive V2 tokens through staking and double their investment, especially in anticipation of the upcoming exchange listing.
Investors can actively participate in the Sponge ecosystem and receive continuous updates on exchange listings and development milestones through social media platforms such as Telegram channels and X (Twitter).
| hard cap | – |
| total supply | 150 billion |
| Pre-sale quantity | – |
| blockchain | Ethereum Network |
| token type | ERC-20 |
| Minimum purchase quantity | doesn’t exist |
| how to purchase | USDT, ETH, card |
Cryptocurrency is a volatile, unregulated investment product.
2. Bitcoin Minetrix – A unique utility token that tokenizes cloud mining and provides passive income
Bitcoin Minetrix (BTCMTX) is a unique utility token that is revolutionizing the cloud mining industry today. The platform uses Ethereum-based smart contracts and allows token holders to stake BTCMTX tokens and earn passive income.
Users earn mining credits through token staking. Please note that this is a non-transferable token and can be burned on the platform and exchanged for cloud mining power.
Users will contribute to mining according to the mining power obtained in this way and will be able to earn a portion of the profits from Bitcoin mining. This process is performed through the platform dashboard, allowing users to easily participate without any specialized equipment or knowledge.
Because the cloud mining industry has been operated in a centralized manner until now, it is true that the process has been rife with ambiguity and fraud. However, Bitcoin Minetrix handles this process as decentralized and allows users to access mining easily and safely.
The BTCMTX pre-sale began recently and has been extremely successful, raising close to $1 million in less than a month. The total supply of this token is 4 billion, with 2.8 billion being sold in presale.
The token price is very cheap at $0.011, but it gradually increases over time. Therefore, in the final stage of pre-sale, the price will be $0.0119. The latest information about this project can be found on the official Telegram or Twitter (X).
| hard cap | $32 million |
| total supply | 4 billion |
| Pre-sale quantity | 2.8 billion |
| blockchain | Ethereum Network |
| token type | ERC-20 |
| Minimum purchase | $10 |
| purchase token | USDT, ETH, BNB |
Cryptocurrency is a volatile, unregulated investment product.
3. Meme Kombat – A unique utility meme coin that provides gaming fun and staking profits
Meme Kombat ($MK) is a new meme project that is catching the attention of investors with its unrivaled utility. The platform offers a game called Battle Arena, where various meme characters appear and battle it out.
This game is played in seasons, and in Season 1, 11 popular meme characters, including Doji, Floki, Milady, and Pepe, will appear. The game revolves around one-on-one battles between these characters, and players can participate by predicting the outcome of the battle. All games are played fairly using artificial intelligence.
Season 1 is scheduled to begin once the ongoing pre-sale ends, and Season 2 is planned for December 2023. New characters and game modes will be added at the start of each season, creating continued interest.
Players can earn rewards by staking their tokens and participating in games, but it is also possible to earn money by staking their tokens. You can participate in token staking even while the pre-sale is in progress, and the APY is as high as 112%.
This project is expected to attract great attention among many meme communities and cryptocurrency investors, as it features various memes. Interestingly, while meme projects generally have a culture of not revealing their developers, Meme Kombat has earned a high level of trust by transparently revealing the identities of its creators.
The MK token pre-sale is currently underway, with a total of 6 million tokens being sold. The price is very cheap at $1.667, so if you are interested, we recommend you hurry up and participate and stake your tokens.
The latest information about this project can be found on our Telegram channel. Also, see the white paper for more information.
| hard cap | $10 million |
| total supply | 12 million |
| Pre-sale quantity | 6 million |
| blockchain | Ethereum Network |
| token type | ERC-20 |
| Minimum purchase | $10 |
| how to purchase | USDT, ETH, BNB |
Cryptocurrency is a volatile, unregulated investment product.
4. TG.Casino – Telegram coin casino platform that you can freely enjoy without KYC verification
TG.Casino is a coin casino that you can enjoy on Telegram. This literally means you can play the game in your Telegram chat app, making it easily accessible from anywhere in the world. It doesn’t even require KYC verification.
Thanks to this, TG.Casino is expected to upgrade the rapidly developing online casino industry today.
This platform offers strong security and convenience thanks to the use of the Telegram app. You don’t even need to download any software other than Telegram. Everything is possible on Telegram. It is possible to deposit and withdraw cryptocurrency and even enjoy games.
This unique utility platform stays true to its casino essence and offers hundreds of different games. A sportsbook is also offered, which includes 30 sports.
The platform benefits users through a unique revenue sharing mechanism. TG.Casino will pay a portion of its profits to continuously purchase TGC tokens from the market. 60% of the tokens purchased in this way will be paid to users as compensation, and all remaining tokens will be incinerated to maintain high token scarcity.
Additionally, this platform is fully licensed. Thanks to this, users can enjoy TG.Casino with peace of mind. New players can also get a welcome bonus of up to 150% and 500 free spins.
The latest news about this project can be found on the official Telegram channel.
| hard cap | $5 million |
| total supply | 1 million |
| Pre-sale quantity | 40 million |
| blockchain | Ethereum Network |
| token type | ERC-20 |
| Minimum purchase | $10 |
| how to purchase | USDT, ETH, BNB |
Cryptocurrency is a volatile, unregulated investment product.
5. Launchpad XYZ – All-in-one portal platform for simple and effective web3 investment
Launchpad XYZ is an all-in-one platform that helps you make web3 investments simply and effectively. It literally provides various Web3 services and functions in one ecosystem. Through this, users can use everything they need for investment, including DEX exchanges, coin wallets, and cryptocurrency market analysis information.
The platform utilizes LPX utility tokens as the main payment method, and in particular, a minimum of 10000 tokens must be staked to use all features. LPX tokens can be purchased cheaply through the ongoing pre-sale. The token is generating a lot of buzz among investors, having raised over $1.85 million to date.
Launchpad XYZ provides not only the tools necessary for Web3 investment but also a variety of services for effective investment decisions. For example, through Launchpad, users can follow market trends and get analysis information on specific coins. In particular, they currently provide trading signals through Telegram, which has provided multiple profit opportunities of over 1000%.
Thanks to this, Launchpad allows users to always have an advantage in the Web3 world. This platform also provides pre-sale information for new projects, P2E hubs, NFT information, etc. It even provides the ability for users to make partial investments in high-value assets.
A cryptocurrency wallet, which is the core of these Web3 services, is also provided, which offers great convenience as it can be used with just a phone number or email. The current LPX pre-sale price is very low at $0.0445, so if you are interested, it is best to participate quickly.
The latest news about this project can be found on the official Telegram.
| maximum target amount | $12,500,000 |
| total supply | 10 billion |
| Pre-sale quantity | 250 million |
| blockchain | Ethereum |
| Token Type | ERC-20 |
| Minimum Purchase Required | 100 tokens |
| payment | USDT, ETH, BNB, Card |
6. yPredict – A new concept platform that analyzes the market and assists investment with the power of artificial intelligence technology.
yPredict is a utility project that appropriately combines today’s hottest topics: cryptocurrency and artificial intelligence. It uses artificial intelligence technology to help users easily analyze complex markets and gain insights. Thanks to this, using y Predict, it is possible to make informed and wise investments.
In particular, this platform boasts artificial intelligence and predictive models developed by financial experts. In addition, yPredict helps users in many ways by providing a customized trading terminal and expert community.
At the heart of this platform is the YPRED utility token, which is currently available for pre-sale. Users can pay these tokens to subscribe to predictive models and even earn passive income. Developers can also publish their independently developed prediction models on the market of the yPredict ecosystem and earn profits through subscription fees.
Looking further into passive income, the platform benefits token holders in a variety of ways. For example, 15% of platform fee revenue will be allocated to the staking pool, and 10% of total subscription fee revenue will be paid out to token holders. These mechanisms encourage token holdings, which are expected to maintain the value of the tokens over the long term.
Interestingly, the platform also offers a Learn-to-Earn feature, giving users an effective way to learn about the cryptocurrency market. And if you do well on the quiz, you can even get tokens as a reward.
The presale of YPRED tokens is currently underway. The token is currently being sold as cheaply as $0.1, and the exchange listing price is set at $0.12. It has become very popular, having raised over $4 million to date, so if you are interested, please hurry.
YPredict’s latest news can be found through the official Telegram.
| pre-sale | 1st quarter 2023 |
| Payment Method | MATIC, ETH, BNB, USDT, Card |
| chain | polygon |
| Minimum investment required | 200YPRED |
| Maximum Investment Requirement | N/A |
7. Tamadoji (TAMA) – Utility meme coin pumping after IEO
The second best utility token is Tamadoge. Tamadoji is a play-to-play game where players mint unique virtual pet NFTs and then grow them. In the process, the player’s choices affect the pet’s stats and disposition.
Once your pet becomes an adult, you can battle other players’ pets. Winners will receive TAMA Coins that can be used to mint additional NFT pets or purchase upgrades and accessories in the in-game marketplace.
TAMA Coin is somewhat unique among utility coins in that it does not incur transaction taxes. Instead, the Tamadoji project only generates revenue when players use TAMA in the in-game marketplace. This means that there are no barriers to buying or selling small amounts of TAMA or entering the ecosystem of this token.
Moreover, TAMA is deflationary. The total token supply is 2 billion and 5% of all in-game transactions are burned. Therefore, the supply of TAMA decreases over time, and faster as TAMA becomes more popular. This represents potential profits for early investors.
8. Lucky Block – Best Utility Token of 2023
Lucky Block is another utility cryptocurrency that is attractive to investors. LBLOCK not only offers strong investment potential through the business model of a blockchain-based platform but also provides token holders with regular returns and top cryptocurrency sweepstakes.
LBLOCK has been listed on Binance Smart Chain and offers its owners regular opportunities to win prizes from the Lucky Block platform. Additionally, LBLOCK holders receive dividends from all prize draws.
LBLOCK was a huge success, with 11,200 BNB raised in the pre-sale. Although it experienced steady growth in the early months of the year, it suffered further along with weakness across the cryptocurrency market.
Lucky Block offers market-leading competitions and prizes, including a $300,000 Lamborghini and $1 million Bitcoin.
Lucky Block developers have released V2 Coin, which eliminates the 12% transaction fee of V1 Coin and makes it easier to list on central exchanges.
LBLOCK V2 is already listed on MEXC, LBank, and Gate.io, and additional listings are expected to be announced soon. Additionally, starting September 30th, we are reducing the total token supply by applying a 1% monthly burn rate.
Cryptocurrency is a volatile, unregulated investment product.
9. APE Coin (APE) – New NFT Token
As the best utility token for NFTs, ApeCoin offers strong investment potential. APE is the governance token of the market-leading Bored Monkeys Yacht Club NFT ecosystem.
Investors who own APE can participate in APE NFT system operation decisions. However, most holders purchase APE for the return on their investment.
Non-fungible tokens (NFTs) are digital assets traded for profit, and Bored Monkeys’ Yacht Club’s collection of 9,999 NFTs dominated the market last week, recording nearly $19 million in trading volume. The average price of these NFTs is $394,000.
ApeCoin has secured good tokenomics. The total supply of APE tokens is limited to 1 billion. When this utility token hit the market in March 2022, owners of the Bored Monkeys Yacht Club NFT each received over 10,000 APE.
After surging to $18 immediately after launch, APE prices have hovered between $10 and $12 since early April. On technical charts, this pattern is considered a positive ‘buy’ signal.
10. BNB Coin (BNB) – native token of the large Binance cryptocurrency exchange
Binance Coin (BNB) is the utility token of Binance, the largest cryptocurrency exchange among the world’s leading utility tokens. Binance Coin holders receive a 25% trading discount when trading on Binance, as well as a cryptocurrency staking discount.
With 80 million users and over 600 cryptocurrencies for sale, Binance is a great platform for tracking undervalued cryptocurrencies. Holding BNB makes trading on Binance easier. However, most investors purchase BNB for investment purposes.
BNB Coin is based on the Binance Smart Chain (BSC) blockchain. This offers significantly cheaper gas fees than the congested Ethereum blockchain. Most new utility tokens, such as Lucky Blocks, are launched on BSC.
11. Axie Infinity (AXS) – A key token in the Play2Un blockchain gaming field
AXS is the native token of the very popular Axie Infinity blockchain game. This P2E game centers around the breeding and training of virtual NFT monsters. NFT monsters earn rewards paid in AXS through winning battles. AXS is used when players strengthen monsters or exchange them for real money on the exchange.
AXS prices plummeted in late March 2022 after hackers stole a whopping $622 million in Ethereum and USD coins from the Ronin Network blockchain, which runs the Axi Infinity game.
This resulted in AXS losing 35% of its price gains in the first three weeks of March. Trust in AXS has declined, but the price has already been paid. The analysis is that the right time to buy is when AXS is at its lowest point.
The appeal of Exi Infinity games should not be underestimated. Exi Infinity is still one of the best utility tokens.
Over 100,000 Axi Infinity players are currently fighting for AXS. At the peak of its popularity in 2021, Exy’s NFT Monster collection was the most valuable NFT collection in the world.
12. Curve (CRV) – Utility token for large-scale Ethereum-based DEX
Curve is undoubtedly one of the most powerful utility tokens. The Curve is part of the $120 billion DeFi ecosystem. To be precise, CRV is the governance token of Curve, the largest Ethereum-based decentralized exchange (DEX). When you buy Curve, you have a say in how Curb operates.
Curve focuses on liquidity farming. Users borrow stablecoins from what are known as liquidity pools. Curve surpasses its competitors in two ways:
- Decentralized exchange exclusively for stablecoins
- Provides a proprietary algorithm (created by Russian scientist Michael Egorov) that minimizes slippage and impermanent losses, which are major problems in Automated Market Maker systems.
Curve boasts a market capitalization of $1 billion, with approximately $150 million of CRV traded daily. Additionally, Curve’s total deposited value is $20 billion.
13. Decentraland (MANA) – Decentraland metaverse native token
MANA is the native token of the Decentraland metaverse and one of the best utility tokens. It is the 33rd largest cryptocurrency with a market capitalization of over $4 billion.
Decentraland is one of the first metaverses. Users can buy virtual land and monetize it by hosting shops, exhibitions, and interactive events.
With your MANA utility token, you can purchase anything from avatars to tag names through the Decentraland Marketplace. To buy land in Decentraland, you need to use LAND tokens and to acquire LAND, you need to burn MANA.
MANA also serves as the governance token for Decentraland’s Decentralized Autonomous Organization (DAO): holders can vote on what types of content are allowed in the metaverse and how auctions are run.
Therefore, MANA is very useful for Decentraland users. But what about as an investment asset?
As a core member of the Metaverse ecosystem along with its competitor SAND, Decentraland is expected to see growth in the future.
14. Chiliz (CHZ) – Token for purchasing sports club tokens
CHZ is one of the best utility tokens to invest in. Because CHZ is associated with pioneering businesses that attract big, real-world customers.
CHZ is Chiliz’s utility token. Chiliz provides the blockchain know-how to enable sports clubs to issue their own fan utility tokens. Fan Tokens act as governance tokens, allowing fans to have a say in the running of their favorite club.
Chiliz has an impressive client list spanning nine major sporting organizations, including the UFC and major football clubs such as Manchester City, River Plate, and FC Roma.
The key to Chiliz’s business plan is that in order for fans to buy tokens for their favorite club, they must first own CHZ. This creates perpetual demand for CHZ utility tokens.
CHZ is therefore one of the most undervalued coins, with a price of $0.24, despite intermittent rises since the end of January 2022. CHZ has an advantage as a leader in the highly profitable sports space, and we expect its price to reflect this fundamental strength going forward.
15. Yen Finance (YFI) – The best DeFi token that brings DeFi to retail investors
YFI is Yearn Finance’s utility token. Like Curve, Kite Finance also has a liquidity pool. However, while Curve specializes in stablecoin liquidity pools, Yeon Finance acts as a gateway to the full range of financial products offered by other platforms (including Aave, Balancer, and Curve) with a focus on cryptocurrency staking.
Kite Finance aims to make the financial opportunities of DeFi simple for anyone to use. With the DeFi sector’s total value deposited (TVL) growing 80x over the past two years, Yeonfinance is acting as the gatekeeper to a DeFi space that is expected to grow significantly.
Started in 2020 by Andre Kronze as a solo developer, YFI has a total deposited value of over $2.5 billion and a market capitalization of $700 million. The current price per YFI is $19,052.
16. Enjin (ENJ) – Token used for Metaverse NFT minting
ENJ is a utility token for the Enjin ecosystem. ENJ serves as the gold standard for Enjin NFTs. This is because all NFTs contain ENJ and those NFTs can be burned to retrieve ENJ. ENJ has been used to mint over 1 billion NFT assets to date.
Additionally, the total supply of ENJ is limited to 1 billion. The number of cryptocurrency wallets holding ENJ is a whopping 167,254, with the most holding estimated value being around $187 million.
As with all utility tokens, you can invest in ENJ without actually having to use it in its ecosystem. We recommend ENJ to invest in the emerging NFT space. NFT sales were worth $10 million at the end of 2020, but have grown to a total of $25 billion in just 12 months.
17. Graph (GRT) – The main utility token used by dApp developers
The last best utility token is Graph Coin, which is also one of the Web 3.0 utility coins. GRT is the utility token of the graph network. Developers purchase GRT to use the graph network as a data indexing system for Decentralized Applications (DApps).
Graph clients also include Metaverse Decentraland and DeFi such as Cintix, Uniswap, and Abe. Decentraland, for example, uses a graph system to index land that users have purchased with LAND coins, as well as NFT collectibles.
The strength of the graph as an investment asset is that the graph is needed when creating a DApp. We recommend GRT to participate in the DApp sector, which analysts say will be worth more than $260 billion by 2027. Additionally, large companies such as Coinbase and Digital Currency Group provided financial support to Graph during the initial funding phase (2019-2021).
GRT has a market cap of $1.8 billion and a total supply of 10 billion.
What are the best utility tokens to buy in 2024?
Among the above list of utility tokens, here is one that stands out as the best. It is a Bitcoin ETF token. The section below shows how investors can easily invest in Bitcoin ETF tokens.
Step 1: Download your cryptocurrency wallet
BTCETF is currently only available for purchase through the pre-sale page. Therefore, buyers must connect their cryptocurrency wallet to the presale website to purchase.
MetaMask or Trust Wallet is a safe cryptocurrency wallet that even beginners can use for free and easily. In this guide, we will use MetaMask. Download the MetaMask browser extension or mobile app and create an account with a strong password.
Step 2: Purchase tokens
BTCETF tokens can be purchased with ETH, USDT, BNB, and MATIC. Using MetaMask, it is also possible to purchase coins directly from the dashboard through third-party vendors. Alternatively, you can easily find these coins on the best cryptocurrency exchanges.
When purchasing BTCETF tokens, a gas fee of approximately 0.015 ETH may be required, so we recommend that you prepare plenty. Additionally, since MetaMask’s default blockchain setting is Ethereum, ETH is recommended for beginners. ETH can also be purchased with a card on the Bitcoin ETF Token website.
Step 3: Connect your wallet to the website
Now go to the Bitcoin ETF Token website and click on the ‘Connect Wallet’ button. A new connection window will then pop up, follow the instructions to connect your wallet.
Once the connection is complete, the page will look slightly different and you will see the options ‘Buy Now’ or ‘Buy & Stake’.
Step 4: Buy BTCETF tokens
BTCETF allows users to earn additional tokens by staking them as soon as they purchase them. To do this, select ‘Purchase and Staking’ and follow the on-screen instructions. When entering your purchase quantity, we recommend leaving a small amount to cover the gas fee. Transactions will be confirmed quickly depending on network conditions. If you do not wish to stake, select ‘Buy Now’.
Step 5: Receive tokens
Tokens cannot be received immediately after purchase. It will be kept on the website after the pre-sale ends and until the Token Generation Event (TGE) begins.
Once the pre-sale ends, the Bitcoin ETF Token team will announce the claim period via social media. Once the token claim begins, return to the website, click ‘Claim Now’, and follow the instructions to receive the tokens in your cryptocurrency wallet.
Cryptocurrency is a volatile, unregulated investment product.
What is a utility token?
To determine which utility token is best to purchase, we need to clarify some definitions.
Coins and tokens?
Cryptocurrencies usually have their own blockchain. Bitcoin is an example of a cryptocurrency. On the other hand, cryptocurrency tokens are often tokens of other blockchains. For example, many cryptocurrency tokens are actually ERC-20 tokens based on the Ethereum blockchain. The popular Lucky Block utility token is based on the Binance Smart Chain blockchain.
Utility tokens and security tokens?
When you own a security token, you own a portion of the tokenized security. The security can be either real estate or a company. On the other hand, if you own a utility token, you do not own any part of the security, but you have rights within the cryptocurrency ecosystem.
Governance tokens and utility tokens?
Governance tokens play a key role in many cryptocurrency ecosystems. Governance tokens allow their owners to participate in decision-making. This means that all governance tokens can be classified as utility tokens because governance tokens grant their holders the right to receive services.
Fortunately, you don’t need to understand the exact differences between all different types of cryptocurrencies.
Are utility tokens a good investment?
Whether or not utility tokens are a good investment depends on your personal feelings about risk. All cryptocurrencies are inherently high-risk investments. This means the potential gains are large, but so are the potential losses. Most investors don’t want to take big risks. Therefore, it is wise to hold only a portion of your portfolio in cryptocurrencies.
Naturally, some types of coins are more risky than others. For example, meme coins are very risky compared to utility tokens. This means that while you can receive huge rewards, as the Shiba Inu did in 2021, for example, it can also cause its value to plummet.
The difference between meme coins and utility tokens is that meme coins are usually introduced as joke coins and have no inherent purpose other than to be used as a store of value. Strictly speaking, some meme coins can be considered utility tokens, but utility tokens typically grant the right to receive specific services.
For example, LBLOCK is a utility token suitable for investment and automatically registers its holders for regular online lotteries. Owners of Chiliz Coin (CHZ) can use CHZ to buy fan tokens for their favorite sports clubs. Owners of BNB coins can use BNB to access cheaper trading fees on the Binance exchange.
Utility Token Price
There are three main factors that affect the price of utility tokens:
1. Key factors
All utility tokens are associated with an individual cryptocurrency ecosystem. Does the ecosystem have a good business plan? Is it generating revenue like a real business? These are key factors for utility tokens and must be considered.
2. Investment sentiment
Investor sentiment is a key driving factor in the prices of all cryptocurrencies. Investor sentiment for a cryptocurrency refers to ‘how investors feel about it.’ Unfortunately, it is very difficult to predict investor sentiment.
3. Direction of Bitcoin price
Bitcoin accounts for 40% of the cryptocurrency ecosystem by market capitalization. Although the total number of cryptocurrencies is 19,000, the prices of all cryptocurrencies tend to follow the direction of the Bitcoin price.
Where can I buy utility tokens?
The best utility tokens can be found online through cryptocurrency exchanges. Exchanges offer more types of tokens, but they can be a bit difficult for beginners. For a simple and safe way to purchase utility tokens, we recommend the global exchange OKX.
OKX – Highest Rated Powerful Exchange in 2024
OKEx is a large-scale exchange with the competitive advantages of low fees and large trading volume. More than 350 types of coins can be traded, and the maker fee is -0.005% to 0.080% and the taker fee is 0.020% to 0.100%, making it difficult to get cheaper than this. OKX’s mission is to break down financial barriers and create a better world to live in. As evidenced by this, OKX has established a system that is convenient to use in Korea despite the travel rules implemented in Korea last year.
Additionally, security is a top technical priority for OKEx. Effectively defends against online and offline attacks by applying a semi-offline storage method that stores the private key in RAM rather than the hard disk. In addition, we have prepared in advance not only for security but also for countermeasures by planning our own signature protocol and various countermeasures.
In addition to spot and derivatives trading, it is also the highest-rated exchange with features such as mining, lending, staking, and automatic trading bots.
Cryptocurrency is an investment product with no significant volatility and regulation.
How to Buy Utility Tokens Tutorial
If you want to know how to buy utility tokens in less than 5 minutes through low-cost exchange OKEx, follow the step-by-step guide below.
1. Create an OKX account
On the OKX homepage, click the Sign-up button in the upper right corner. Then set your email address and password.
Enter the verification code sent to your email address.
2. Mobile authentication
Click the ‘Security’ tab in your profile and click Mobile verification. Select the Republic of Korea +82 as the Location and enter your cell phone number. Afterward, click ‘Get code’ to receive and enter the verification code. Click the Confirm button to complete mobile authentication.
3. Google OTP authentication
Download the Google OTP app. Then, on the OKEx website, click Profile – Security tab – Authenticator app. Scan the QR code that appears, enter the verification code according to the instructions, and then press Confirm.
4. KYC verification
Please prepare a government-issued ID card in advance, such as a passport, driver’s license, or resident registration card.
Profile – Tap Verification. Select Individual Account and enter the relevant information. It takes approximately 1 to 3 days to complete KYC verification, after which deposits and transactions are possible. With additional verification via photo or video, the withdrawal limit increases.
5. Make a deposit
After creating a wallet address in OKEx, select Assets – Deposit located at the bottom of the OKX app. Select the coin to be transferred and create a wallet. After selecting the coin to transfer through “Deposit/Withdrawal” in the Upbit app, enter the withdrawal amount, OKX wallet address, and tag, and press “Withdrawal Request.”
6. Search and purchase cryptocurrency
Select Basic Trading at the top of the OKX homepage. Search on the left side of the screen and click on the token. Now enter the purchase amount and click the Buy button to purchase. For reference, if you want to purchase coins using fiat currency, select “Buy Crypto” from the menu at the top of the homepage.
Cryptocurrency is a volatile, unregulated investment product.
Conclusion
This guide has looked at 17 of the best utility tokens. We also present the optimal way to purchase utility tokens.
Among the best utility tokens to buy, the most promising one we’ve discovered is the Sponge V2 token. It offers significant long-term value through its unique staking and burning mechanism.
Cryptocurrency is a volatile, unregulated investment product.