Investing is a great way of securing financial stability in the present and future. In the current technology-driven world, cryptocurrencies are the trending investment option. Since the emergence of the first cryptocurrency, the crypto market has grown tremendously. Many investors are striving to keep track of blockchain-driven cryptos that may explode in the future, giving good profits during volatile market periods. If you are among the investors searching for affordable cryptocurrencies with future potential, you are at the right place. Money does not have to limit you from trading cryptocurrencies. You can start your cryptocurrency investment journey regardless of how much you earn. Here is an exclusive look at the 10 cheapest cryptocurrencies money can buy.
10. Uniswap ($7.0895)
UNI is considered the most promising cryptocurrency in the industry and is a native token of one of the best crypto platforms, Uniswap. Uniswap isis an automated market maker that facilitates the trading of DeFi tokens, a shining point of blockchain that has utility outside the crypto industry. As a main player among decentralized exchanges, Uniswap automates the trading of decentralized Finance tokens between the coin holders, enabling anyone that holds coins to create a liquidity pool for the token pair they opt for.
Uniswap is more than a decentralized exchange aiming to solve liquidity problems affecting most crypto projects. Its fundamental value and great reputation in the decentralized exchange market instill trust in its investors. Although very volatile, Uniswap is advantaged to have been an early player in the decentralized exchange space. According to Coinbase, after the changes that have occurred in the industry and new players that have entered the industry, Uniswap is still going strong.
9. Chainlink ($6.40)
While the Chainlink price is higher than $1, Chainlink is still a cheap cryptocurrency compared to other coins such as Ethereum or Bitcoin. Chainlink is an open-source cryptocurrency that allows globally connected smart contracts. More so, the project uses a decentralized oracle network to enable a secure connection between blockchain networks and several sources of off-chain data. Chainlink enables real-world data and off-chain computation to inflate smart contracts' capabilities while maintaining the benefits of blockchain technology, including reliability and security guarantees. According to CoinDesk, the price of Chainlink currently sits at $6.40, around 64% less over the year, providing investors an opportunity to buy cheaply.
The cryptocurrency market is volatile, but Chainlink has remained strong and within the top twenty on CMC and other similarly ranked sites. No other project can perform what the Chainlink decentralized oracle network does. Therefore, it has a fundamentally high value, and although its current price is relatively lower than the average price, the crypto coin can still rise high due to its functionality.
8. NEAR Protocol ($3.33)
NEAR Protocol is one of the top 30 cryptocurrencies worldwide by market capitalization. This community-run cloud computing service aims to solve the old blockchain limitations and problems such as throughput, low transaction speed, and poor interoperability. NEAR Protocol is also a platform for a range of decentralized Apps such as Mintbase. Most developers find it easier to use because of its user-friendly interface, usability features such as human-readable account names, and a throughput of up to 100,000 TPS. Although it does not have the maturity of some of the blockchains in this list, it has a collective aimed at making a highly secure platform that effectively manages high-value assets such as identity and cash while offering functionality.
NEAR is a divisive digital asset considered one of the best crypto investments because of its high market capitalization and innate functionality. It is a moderately cheap coin that presents innovative ideas. However, remember that cryptocurrency markets are volatile and unpredictable, so in the end, only your judgment and research will help you decide the cryptocurrencies worth investing in.
7. The Sandbox ($1.06)
Sandbox is a popular veteran in the crypto industry that has been around since 2011. Pixowl developed the game to introduce blockchain in mainstream gaming with investors including Helix, Atari, and CryptoKitties. According to CoinMarketCap, it is a blockchain-based virtual platform that uses blockchain games to enable users to build, create, and purchase and sell digital assets. The virtual blockchain-based metaverse game uses a play-to-earn model that allows users to develop, purchase, trade, and collect digital assets as NFTs. Users can also create and monetize their games and earn SAND when they play someone.
Sandbox operates with a ‘play-to-earn’ P2E business model that gamifies the process of earning cash and engaging with cryptocurrencies. However, concentrating on user-generated content can either go right or wrong. Although the approach is remarkably interactive and nurtures a good community, it can quickly fall apart. Although its future depends on how it manages the upcoming challenges, SAND is currently a cheap and promising cryptocurrency with a long history.
6. Decentraland ($0.96)
Decentraland is a virtual reality podium powered by Ethereum blockchain that enables users to try, create and monetize decentralized apps. The token was established following a $24 million initial coin offering (ICO) in 2017. ICO started its closed beta in 2019 and opened it to the public in February 2020. Decentraland users have since developed a wide range of experiences, including sprawling 3D scenes, interactive games, and various other interactive experiences. The platform is aimed at content developers, creators, and people looking for artistic entertainment.
Decentraland's crypto gamification sphere isn't crowded but has some competition. It will have to fight hand to attract new uses and secure partnerships. However, despite its recent decline, the niche has room to grow. Being a metaverse innovator, Decentraland has been signed by Versus Entertainment to assist in developing its film adaptation. With a market capitalization of $1.77 billion, the cryptocurrency project is not particularly a child’s play. Although lower from its November 2021 high of $5.48, MANA still trades above its $0.82 price before the spike.
5. Cardano ($0.4526)
Costing as low as $0.4526, Cardano (ADA) is one of the cheapest cryptocurrencies. With a mission to offer fair and transparent communities across the globe, Cardano is a project considered one face of cryptocurrency markets. According to Coinbase, Cardano is a blockchain platform built on a proof-of-stake consensus protocol known as Ouroboros, which can authenticate transactions without huge energy costs. Ouroboros enables the Cardano network’s decentralization and offers the ability to scale to global requirements sustainably without compromising security. Cardano development utilizes the Haskell programming language. The Cardano token symbol, ADA, originates from the 19th-century mathematician Ada Lovelace.
Until now, Cardano has achieved a remarkable record. According to InvestorPlace, Cardano had processed over twenty million transactions without downtime and has recently started ADACash, a reward token that got 10,000 users in less than one month. Unlike many projects in the cryptocurrency space, Cardano has practical utility and delivers its promise of improving the globe. For instance, it is utilized in agricultural supply chains to check counterfeit goods.
Other upcoming projects include an exchange for DeFi transactions and a non-fungible token marketplace. Also, a forthcoming upgrade known as Hydra is expected to increase processing feeds gradually. Generally, ADA unquestionably has high potential and could be a cheap and good buy. But its future will depend on its adoption of blockchain technology and the partnerships it will establish.
4. Polygon (MATIC) ($0.399)
Polygon is a user-friendly platform for Ethereum scaling and infrastructure development. This means that Polygon fundamentally enables the Ethereum blockchain to transform into a full-fledged multi-chain network. MATIC is an ERC – 20 token that functions on the Ethereum blockchain. It secures the platform and allows its holders to vote on governance proposals. In addition to having remarkable value and working with the Ethereum network, Polygon has been backed up by two crypto industry giants, Binance and Coinbase. Polygon hence offers a solution the developers require to deploy decentralized applications quicker, less costly, and more efficiently. While all cryptocurrency investments are very speculative, it’s a good sign that MATIC displayed resilience during the early December 2021 sell-off, surging 21% while most cryptos plunged.
Ethereum is among the most promising crypto ventures out there, and its connection to Polygon greatly benefits. Multi-chain functionality will be progressively essential as cryptocurrencies become mainstream. Hence the crypto platform has more potential. According to Crypto analysts, Polygon has a backup of a strong team and innovative technology that makes MATIC a good bet in the long run.
3. XRP ($0.3692)
It is worth investing in XRP because it is a smart choice in cryptocurrency and a coin on the lower side. XRP is open-source crypto that utilizes an open-source distributed ledger referred to as XRP Ledger. It was created by Ripple, an enterprise blockchain that engages in global transactions. According to Yahoo Finance, XRP was developed for payments and can settle transactions quicker, more reliably, and at a lesser cost than the standard global payment infrastructure. Currently, Ripple is involved in a lawsuit by the U.S. Securities and Exchange Commission that claims it engaged in unregistered securities trading. However, another lawsuit filed by a government watchdog group alleges that the Securities and Exchange Commission officials are biased against XRP and Ripple. This will play a part in resolving the suit against Ripple in their favor.
Despite this uncertainty around the lawsuits, Ripple's On-Demand Liquidity payment product raised ninefold between 2021's second quarter and 2022's second quarter. Ripple purchased back Series C shares worth $200 million from one of the stakeholders, a move that strengthened its balance sheet before going public. XPR's price is considerably down compared to one year ago, and you can purchase it for less than $1.
2. Stellar (XLM) ($0.1146)
Stellar is one of the cheaper cryptocurrency and payment networks on its own that operates via blockchain technology. The network utilizes stellar lumens as its currency and has provided individuals with good access to blockchain services since 2014. It is a decentralized protocol based on open-source code to transfer the digital currency to fiat cash domestically and across borders. Although anyone can use the crypto network, it was initially aimed at connecting financial institutions that make huge transactions. Unlike competing blockchain networks or traditional methods, the stellar network makes these transactions almost instantaneously at little cost.
One thing that makes the Stellar network unique from other blockchain projects is its fee structure. Each transaction costs 0.00001 XLM, regardless of its size. With XLM costing less than one dollar, Stellar transactions are unprecedentedly affordable. The stellar lumens price has been very volatile over the past year. However, industry analysts expect the XLM prices to have gained in 2022. According to InvestorPlace, you can see where XLM might be heading by watching Bitcoin prices. Stellar has been among the best-performing altcoins in the last five years, with a market cap of above $1 billion. XLM responds excellently to the rise and fall of the cryptocurrency values on the market and hence provides a good investment opportunity.
1. Dogecoin ($0.057)
Dogecoin is one of the most recognizable cryptocurrency coins available. It utilizes a proof-of-work consensus mechanism that requires miners to solve complicated math issues with costly, high-powered computers to earn the right to authenticate transactions. Miners have to spend computing power and solve complicated math puzzles to validate transactions on the DOGE blockchain platform. The advantage of Dogecoin over Bitcoin is that it's faster and cheaper to process transactions.
Unlike most cryptocurrencies that serve actual functions, dogecoin was developed as a sarcastic take on Bitcoin. The cryptocurrency saw a steep rise last year due to hype or tweets and message boards by Elon Musk. Dogecoin has been affected by the crypto sell-offs during the past months. According to Currency.com, whether it continues pulling out of the slump depends on the future, but many investors see them as a purchasing chance instead of a sign of doom.
That's it. These are the cheapest cryptocurrencies money can buy. by investing in any of them, you have the potential of making profits without the risk of losing huge amounts of cash. Any other cheap cryptocurrency that we have left out? Please comment below.
Written by Dana Hanson
Read more posts by Dana Hanson