12 Best Utility Tokens to Invest in 2024

Kane Pepi
Last updated: | 17 min read
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Utility tokens refer to crypto projects that offer real-world value, insofar as they grant access to a particular product or service. An example of this is MANA, which enables holders to buy virtual real estate within the Decentraland metaverse. 

In this guide, we offer an in-depth analysis of the best utility tokens to buy right now, including newer projects.

  • New and improved meme offering over 300% staking rewards
  • Staked token supply to lock at end of presale to prevent volatility
  • More flexible and eco-friendly thanks to Ethereum blockchain build
Project Launched
March 2024
Meta
Stake-to-earn, Meme
Purchase Methods
  • ETH
    ETH
  • usdt
    usdt
  • Bank Card
    Bank Card
  • Send SOL and wait for airdrop - the new way of doing presales
  • Over $540K raised so far, expected to sell out very quickly amid memecoin buying frenzy
  • No hard cap total - first come first served
Project Launched
March 2024
Meta
Meme
Purchase Methods
  • Solana
    Solana
  • Innovatives VR & AR Gaming Project
  • Aiming to Raise $15M Across 12 Rounds
  • Token Holders Get Lifetime Access to VR Content
Project Launched
January 2024
Meta
VR
Purchase Methods
  • ETH
    ETH
  • usdt
    usdt
  • Bank Card
    Bank Card
  • Trending meme coin with P2E utility & staking rewards
  • Price up 10x in past month, rumors of Binance listing
  • 12k+ holders and growing
Project Launched
December 2023
Meta
Meme, P2E
Purchase Methods
  • Bank Card
    Bank Card
  • usdt
    usdt
  • ETH
    ETH
  • Buy and hold $SMOG to generate and earn airdrop points
  • 35% of supply reserved for future airdrop rewards
  • Viral potential after pumping over 1000%
Project Launched
February 2024
Meta
Meme, P2E
Purchase Methods
  • usdt
    usdt
  • Solana
    Solana
  • Native BSC token
  • Audited by Coinsult
  • Long-term rewards for holders
Project Launched
2023
Meta
AI
Purchase Methods
  • bnb
    bnb
  • usdt
    usdt
  • Bank Card
    Bank Card
  • Innovative stake-to-mine project for easy BTC mining
  • Presale has raised over $6.5m so far
  • Over 90% staking APY during presale
Project Launched
2023
Meta
Staking, mining
Purchase Methods
  • ETH
    ETH
  • bnb
    bnb
  • usdt
    usdt
  • Bank Card
    Bank Card
  • +1 more
  • Daily passive staking income
  • 250k giveaway participation
  • Free casino credits
Project Launched
July 2023
Purchase Methods
  • usdt
    usdt
  • bnb
    bnb
  • ETH
    ETH
  • Trending new meme coin presale with 6.9Bn total supply
  • Buy and stake $POODL to earn rewards of 12397% p/a
  • 30% of the token supply has been allocated to staking
Project Launched
February 2024
Meta
Meme, P2E
Purchase Methods
  • bnb
    bnb
  • ETH
    ETH
  • usdt
    usdt
  • Bank Card
    Bank Card
  • +1 more
  • Access to huge fee revenue through staking
  • 50% of 10bn token supply available at presale stage
  • 85% of fees go back to the community
Project Launched
March 2024
Meta
CasinoFi
Purchase Methods
  • usdt
    usdt
  • bnb
    bnb
  • ETH
    ETH
  • Innovative AI crypto casino offering staking, airdrops and custom games
  • $HPLT presale has raised over $400k so far with +60M bets placed by +150k users
  • Offers daily staking rewards, hype NFTs and is fully audited by Certik
Project Launched
March 2022
Purchase Methods
  • bnb
    bnb
  • ETH
    ETH
  • usdt
    usdt

The Best Utility Coins to Buy

The list below highlights the top utility tokens that we identified during the research process. 

  1. Bitcoin Minetrix – Bitcoin mining protocol providing high staking rewards (140%). Over $11 million raised in presale.
  2. eTukTuk – Sustainable transport solution built on the Cardano blockchain. Raised more than $1.3 million via ICO.
  3. Green Bitcoin: Innovative Predict-to-Earn model provides up to 286% staking APY.
  4. Decentraland – Established metaverse project that enables you to purchase and trade virtual real estate.
  5. Ethereum – The world’s 2nd largest crypto and the go-to place for Smart Contract development.
  6. XRP – Veteran cross-border payment solution looking to revolutionize overseas remittance. 
  7. BNB – Native token of the Binance Smart Chain. $58 billion market cap.
  8. Cardano – Decentralised Proof of Stake blockchain with a focus on social justice and network efficiency.
  9. Chainlink – Decentralised oracle network converting external information into blockchain ready data. 
  10. Polygon – Ethereum scaling solution featuring modular architecture to create an ‘internet of blockchains’.

The best utility coins come from a variety of crypto niches. From cross border payments to the metaverse, to P2E gaming to sustainable transport, we discuss every utility coin in more detail in the following sections. 

Reviewing the Crypto with the Best Utility 

Unlike meme coins, which are largely focused on speculation and hype, utility tokens have an actual use case. Alongside paying for transaction fees, by holding utility tokens, investors can gain access to exclusive products and services and even get to vote on crucial eco-system decisions. 

Ultimately, utility tokens have a much greater chance of surviving over the long haul. 

1. Bitcoin Minetrix – A Crypto Token With an Eco-Friendly Approach To Bitcoin Cloud Mining

Bitcoin Minetrix ($BTCMTX) is a trending new utility token redefining the future of cloud mining by offering a unique and eco-friendly ‘Stake-to-Mine’ model. In less than two weeks of its launch, Bitcoin Minetrix secured over $1 million in deposits, showing strong investor enthusiasm. 

The platform is built on Ethereum, and offers a new take on Bitcoin mining and a solution tailored to modern concerns. Its native token, $BTCMTX, is at the center of Bitcoin Minetrix. The token has a tiered presale price and currently retails at $0.0007049. 

Bitcoin Minetrix presale

Out of a 4 billion total supply, 70% is dedicated to the presale, with a hard cap target of over $33 million. 

Standing apart from conventional methods, Bitcoin Minetrix introduces a unique Stake-to-Mine feature. Per the Bitcoin Minetrix whitepaper, users can stake $BTCMTX tokens and earn non-tradable mining credits in return. These credits can then be burned to get Bitcoin mining power on the platform, merging simplicity with security. 

This mechanism minimizes risks associated with traditional cloud mining, such as fraud and long-term contractual obligations. Moreover, users maintain full control, having the freedom to un-stake and trade tokens anytime.

The Bitcoin Minetrix platform is designed for user convenience. A comprehensive, integrated dashboard, accessible via desktop or mobile, offers a detailed overview of mining activities. 

This includes expected daily, weekly, and monthly returns, insights into mining credit acquisition, and real-time hashing power statistics.

BTCMTX stake-to-mine BTC

The platform’s early success is evident, with over 600 million tokens already staked offering an impressive APY of over 60%. 

However, it’s worth noting that this APY may vary as more tokens enter the staking pool. Ensuring its security, the project’s Smart Contract has been audited by Coinsult, demonstrating its commitment to transparency.

Users can follow the project on X or enter the Bitcoin Minetrix Telegram group for the latest announcements. For a deeper dive, be sure to visit the Bitcoin Minetrix website.

Presale Started 26 Sept 2023
Purchase Methods  ETH, USDT, BNB
Chain Ethereum
Min Investment $10
Max Investment None

 

2. eTukTuk Driving the Change with $TUK Token and Fueling the Future of Electric Mobility

eTukTuk aims to revolutionise the Tuk Tuk economy by harnessing the power of electric vehicles for cleaner air and a better profit model. Through a popular ongoing presale, eTukTuk has raised over $1 million so far. $TUK token is currently available at $0.00002009. 

eTukTuk presale

eTukTuk is a real-world use case for blockchain technology, demonstrating the scope of collective community power. Alongside real-world change, eTukTuk is helping token holders earn rewards while eliminating financial divides. With eTukTuk, the team aims to act as a blueprint across developing countries to make the switch to electric vehicles. 

The project is working towards mitigating the harmful effect of 270 million internal combustion engine (ICE) TukTuks and other two and three wheeler vehicles. For this, eTukTuk has developed a revolutionary ecosystem that aims to reduce air pollution, CO2-related health conditions, and financial exclusion.

For crypto enthusiasts, the project has the $TUK utility token powering its ecosystem that provides rewards to long-term network participants. As the number of stations installed by eTukTuk grows, with increased network usage, stakers will earn a greater yield. Moreover, drivers pay a fee for using their vehicles, thereby generating revenue for the network. 

eTukTuk electric vehicle

For more information about the project, check out eTukTuk’s Telegram, Twitter, YouTube, and Discord. You can also also read its whitepaper.

Presale Started Ongoing
Purchase Methods  ETH, BNB, USDT, and Card
Chain BNB Chain
Min Investment None
Max Investment None

 

3. Green Bitcoin – Merging Green Innovation with Crypto Legacy and Gamified Staking for Passive Income

GBTC is a utility token that incorporates an environmentally friendly philosophy by being ‘10,000 times more eco-friendly’ than the original Bitcoin. By utilizing the Proof of Stake (POS) consensus mechanism, required computational power is significantly reduced.

As part of its commitment to sustainability and growth, Green Bitcoin will partner with industry leaders, green tech companies, and eco-conscious organizations to create a harmonious environment to advance the green revolution.

What is Green Bitcoin

For those who missed out on Bitcoin, GBTC offers a lucrative opportunity to get in early at presale stage. By merging the allure of BTC’s early days with Ethereum’s eco-friendliness, efficient Smart Contract execution, diverse array of dApps, stability, and robust security, Green Bitcoin looks set to be a great success. 

The ‘green’ characteristic extends further to its gamified staking process. When participants engage in staking and accurately predict the Bitcoin price to land in the selected green zone, they are rewarded with additional earnings from staking coins. This way, this token takes inspiration from the crypto king while redefining passive income through a low-fee, eco-conscious stake-to-earn model.

Green Bitcoin tokenomics

You can read their whitepaper here or stay up to date with Green Bitcoin via their Telegram and Twitter.

Presale Started Ongoing
Purchase Methods  ETH, USDT, and Card
Chain Ethereum
Min Investment None
Max Investment None

 

4. Decentraland – Metaverse Project with Huge Institutional Backing   

Another area with a strong utility focus is the metaverse. One of the best metaverse coins in this regard is MANA, which underpins the Decentraland ecosystem. As we briefly noted earlier, MANA is the native token of the Decentraland metaverse and can be used to purchase land and pay for in-world goods and services.

The price of each virtual plot will vary depending on market conditions and the location within the metaverse. For instance, buying land close to Snoop Dogg or Paris Hilton will come at a huge premium. 

MANA can also be used to access play-to-earn games within Decentraland, as well as the trading of NFTs. More utility is expected as the metaverse concept becomes more mainstream. In the meantime, MANA can be purchased at a huge discount when compared to its former peak price. 

Despite surging by 80% in the last 4 months, MANA is down by 45% in the previous year (at time of press) making the coin an attractive buy right now. With all-time highs of close to $5 it has a lot of room for upside potential. 

 

5. Ethereum – Utility Token That Backs Thousands of ERC-20 Standard Projects

It could be argued that Ethereum is one of the best utility tokens in the market. Put simply, thousands of projects are built on top of the Ethereum blockchain via the ERC-20 standard. This means that in order to send and receive funds, each respective project will be required to pay transaction fees in ETH, commonly referred to as GAS. 

Furthermore, ETH is required when deploying Smart Contracts – whether initiated by Ethereum itself or by one of the many thousands of ERC-20 tokens. The previously discussed MANA, for example, is built on top of Ethereum, as are many other leading metaverse projects – such as Sandbox, Enjin, ApeCoin, and Axie Infinity. 

Over the course of time, this will ensure that Ethereum remains relevant as an in-demand utility token. Ethereum is also attractive right now considering that due to its Proof of Stake architecture the protocol is virtually carbon neutral. As the development of the blockchain industry evolves, eco-friendly networks will become more and more popular. 

As the chart above shows, Ethereum is showing strong signs of life and looks on course to retain its previous all-time high which was set in November 2021. With significant software upgrades around the corner accompanied by rumors of a proposed Ethereum ETF circulating, 2024 could be a great year for Ethereum.

 

6. XRP – Provides Utility for the Ripple Interbank Payments Network    

Although the US Securities and Exchange Commission disagreed, we believe that XRP is one of the best utility tokens to explore. After all, XRP sits at the heart of the Ripple interbank payments network, which enables financial institutions to transact across borders in a low-cost and fast way. 

In the Ripple use case, when cross-currency transactions are required, XRP forms a bridge of liquidity. This ensures transactions do not need to use correspondent banks which are both slow and expensive. Through XRP, Ripple are targeting banks and financial institutions, as opposed to offering any utility for consumers. 

Nonetheless, XRP is a large-cap utility token that can be purchased from dozens of leading exchanges. Given Ripple’s victory over the SEC, resulting clarification and the state of the world economy, many experts believe XRP could pose an attractive option for institutional investors looking to make the most of the next crypto bull run. With current prices some 600% off its previous all-time high, its easy to see why.

 

7. BNB – Proprietary Token of the Binance Smart Chain Ecosystem 

Binary Finance or Binance for short, aim to revolutionize traditional finance through the application of decentralized technologies. BNB is the utility token at the heart of the Binance eco-system which includes the world’s largest crypto exchange by volume, Binance. 

More importantly, BNB is the native digital currency of the Binance Smart Chain, which hosts thousands of NFTs, protocols and tokens. In a nature similar nature to Ethereum and ETH, all Binance Smart Chain transactions must be paid in BNB. 

Moreover, the vast bulk of tokens that are listed on the Binance Smart Chain are paired with BNB. This means that in order to buy the token, investors must first obtain BNB before completing the swap. BNB also enables traders on Binance to access a reduction in fees and commissions. 

As you can see from the chart above, BNB has shown strong resilience through an otherwise brutal bear market. At current prices, it is less than 90% from its previous all-time high. With Binance under new ownership since November 2023, BNB coin is in good hands and looks set to continue its exponential growth into the rest of the decade.

 

8. ADA – Native coin of the Cardano eco-system

Conceived, designed and written by one of the core founders of Ethereum, Charles Hoskinson, Cardano is a Proof of Stake blockchain that seeks to create a society that is more secure, transparent and fair. At the heart of the Cardano network is the ADA token which allows holders to vote in the development of the software, underlining the project’s commitment to democratic ideals.

In competition with other Layer 1 protocols such as Ethereum, Solana and Ripple, blockchain developers are able to create a variety of decentralized applications (dApps) and Smart Contracts with Cardano. With working use cases already in agriculture, education and retail, the future for ADA and Cardano continues to look bright.

As with most of the crypto market, ADA fell from its all-time high in late 2021. However, regardless of price, the project continued to develop and launch new products and, to date, Cardano remains the 8th largest cryptocurrency by market cap. As their charismatic leader Charles Hoskinson remains at the helm, this popular crypto project has every chance of retaining, if not exceeding, its previous high of $3.00.

 

9. Chainlink – Decentralised data oracle for real-world integration

Designed as a bridge between blockchains and off-chain environments, Chainlink was founded in 2017 by Sergey Nazarov and Steve Ellis. Built on Ethereum, Chainlink was created to facilitate the transfer of ‘tamper proof data’ from the real world into Smart Contracts. If we are to enter a digital age then it is imperative that, as a society, we dont exist in a series of walled gardens. By linking the real and the digital worlds, Chainlink fixes this.

With Chainlink being something of an originator in the oracle space, the project has benefitted significantly from first mover advantage. That said, as you can see from the chart above, native token LINK lost a lot of value in the bear market of 2022-23. That being said, the token has shown the strength to grow over 100% in less than 6 months and to this day remains one of the most sought after cryptos in the market.

 

10. Polygon – Ethereum Layer 2 scaling solution designed for interoperability

Formerly known as MATIC, Polygon is an easy-to-use platform that has been designed to help Ethereum scale thereby aiding infrastructure development and real-world use. Without protocols like Polygon, Ethereum is slow and expensive. At its core, Polygon is a flexible and modular framework that enables the construction of a wide variety of applications.

With a nod to its past roots, MATIC is the name of the Polygon native token and is used to not only pay transaction fees but to also secure and govern the network. Widely available across many cryptocurrency exchanges, MATIC remains one of the most popular cryptocurrencies in 2024.

As we can see from the above chart, MATIC is a volatile crypto with a series of aggressive highs and lows. That being said, the token has shown considerable resilience throughout the previous bear market remaining a firm favourite with investors. 

With many expecting a return to all-time highs in 2024, investing in MATIC now might prove to be a wise decision.

What are Utility Tokens?

Utility tokens refer to cryptocurrencies that have an actual use case, which can come in many forms. With the blockchain industry still in early stages of maturity, there can be uncertainty about how utility tokens fit into the wider crypto landscape.

Crucially, utility tokens must be differentiated from meme coins that offer no actual long-term value. This is unfortunately the case for many thousands of projects in this space – many of which are simple meme coins that are bought and sold for speculative reasons. 

Crypto Utility Explained

Understanding the concept of crypto utility tokens can be complex at first glance. As such, in this section, we have given some real-world examples of how cryptocurrencies can be used for utility purposes. 

Play-to-Earn Rewards

One of the most notable aspects of a cryptocurrency utility coin is that it can be used as a native token within a play-to-earn gaming ecosystem. 

This not only incentivizes people to play the game, but enables players to win real-world crypto rewards. In turn, this will attract more players, and thus the value of the token will react positively. 

Investing in the Metaverse 

As noted earlier, many metaverse projects have their own utility token. From Sandbox (SAND) and Decentraland (MANA) to the Otherside (APE), each have their own unique selling points.

In order to buy virtual plots of real estate within the respective metaverse world, payment must be conducted in the crypto utility token that backs the project. The higher the demand for virtual land, the higher the price of the utility token. 

NFT Rewards and Trading 

Many NFT projects in the crypto space also have their own utility token. In this context, utility tokens can be used to unlock exclusive benefits within the ecosystem. Utility tokens might also be used to reward holders with access to exclusive content such as behind the scenes material or special events. Utility tokens can also be used for enhanced community access such as direct communication with creators, governance rights, or membership of private groups.  

Transactional Currency

As we have seen, most popular blockchain networks have their own utility token that allow the holder to access a company’s service or product. However, utility tokens can also be used to pay transaction fees which can often be expensive.

The many thousands of ERC-20 projects built on the Ethereum blockchain must pay fees in ETH. Conversely, transactions on the Binance Smart Chain are paid in BNB. Furthermore, by using the utility token that is native to the network, developers are able to leverage brand loyalty and ensure that demand for the token remains high.

Passive Income

There are also some utility tokens that enable holders to earn passive income. This is usually achieved through the process of Staking. By loaning tokens back to the network,  token holders contribute to the security of the network and help validate transactions. Whilst this means that your tokens will be locked for a certain period of time, staking can be a lucrative way to earn passive income.

Are Utility Tokens a Good Investment?

Still wondering whether or not you should buy tokens in 2024? The key thing to remember is that there is no guarantee that any crypto asset, whether it’s a utility token or a meme coin, will generate investment gains. 

As we have mentioned previously, utility tokens, at least in theory, have an actual use case. This means that the best utility tokens in this industry provide solutions to problems. Whilst there is still uncertainty around the correct pricing of tokens, it is widely accepted that investing in utility coins is generally less risky than meme coins.

However, knowing which utility tokens to buy and hold is the tricky part. As a result, seasoned investors will often build a highly diversified portfolio of different utility tokens to help smooth out the risk.  

Conclusion

This market insight has explored the best utility coins to consider buying today. While crypto assets in general are high-risk financial instruments, there are still a number of attractive entry points for both new and experienced investors. 

Most of the largest and most successful cryptocurrencies have tokens that are integral to the operation of the network. Understanding how utility coins bring value to the parent blockchain will help you make better investment decisions. Therefore, it is crucial to conduct your own research to be happy with your decisions. It goes without saying, never invest more than you can afford to lose.

FAQs

What are some examples of utility tokens?

Utility tokens offer holders a real-world use case. A prime example of this is BNB, which fuels the Binance Smart Chain and offers discounts to traders on the Binance exchange. 

What is a utility token in crypto?

In its most basic form, utility tokens are cryptocurrencies that represent real-world value, because they provide holders with a use case. This is in stark contrast to a meme coin like Dogecoin, which is typically purchased for speculative reasons only. 

Which coins have the most utility?

Many would argue that ETH has the most utility, considering that it is the required transactional currency for thousands of ERC-20 projects built on the Ethereum network. Moreover, ETH is used to power Smart Contract agreements.

Is Shiba Inu a utility token?

Shiba Inu (SHIB) was originally created in 2020 as a direct competitor to Dogecoin’s status as the de-facto meme coin. However, considering that Shiba Inu has since created a metaverse ecosystem of its own, SHIB is now arguably a utility token. The reason for this is that when buying virtual plots of land within the Shiba Inu metaverse, SHIB is the primary currency of choice. 

 

References:

https://fortune.com/2022/02/02/how-to-buy-metaverse-real-estate-snoop-dogg-celebrity-neighbor/

https://finance.yahoo.com/news/grayscale-ethereum-rally-mainly-due-051338012.html

https://www.reuters.com/legal/us-judge-says-sec-lawsuit-vs-ripple-labs-can-proceed-trial-some-claims-2023-07-13/

https://en.wikipedia.org/wiki/Charles_Hoskinson

https://www.kraken.com/en-gb/learn/what-is-polygon-matic

https://www.bloomberglaw.com/external/document/X7SR30S8000000/finance-professional-perspective-the-dual-nature-of-utility-toke

https://en.wikipedia.org/wiki/Tokenomics

https://warwick.ac.uk/fac/soc/wbs/subjects/finance/gillmore/annualconference2022/gillmore_sept_22_danos_marcass_oliva_prat.pdf

 

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.