With the crypto-mania in recent years, everyone’s dream is to become the next crypto millionaire. Just imagine the guys who bought BTC back in 2010. Luckily for us, there is still a chance to profit big. Since the success of Bitcoin and blockchain, a lot of projects started. These altcoins might be our saviour to the path of riches. That being said, we have to look out for scams and pumps and dumps which happen from time to time. Like with the squid game coin. In this article, I did the heavy lifting for you and found the best cheap cryptos to invest in my opinion.
How do I made my choices?
First of all the biggest red flag with crypto projects is their purpose. We want to choose projects that are or will provide some value to the world. If a project is existing just for the shake of it – it’s a meme coin for example – it’s just a matter of time before it will crash. Another important factor for me was the number of coins/tokens the creators hold for themselves. Just like with equities the more is controlled by a few individuals the greater the risk for manipulation. We don’t want to be a driving force for a pump and then be left with pennies.
I also considered market capital and trading volume. The greater these numbers are the means that the public is agreeing with us. The least money is involved with it the greater the risk that it will be worth nothing in the future. I also looked at the project’s website and wiki pages if it had any. Do they have any metrics public? Whitepapers? Tokenomics? All these factors can help to determine if the project is valuable or not.
A Word about ‘Cheap’
In the title, I promised you cheap cryptocurrencies. Well in the list you will find some that seem odd because they are not exactly the cheapest. But remember to invest in crypto you don’t have to own a full coin. Let’s say you want to buy BTC, you don’t need the whole 68000$ to do it. Even with the most expensive ones you can the minimum on the exchange. If the value behind a project is great we shouldn’t dismiss it just because it is not a few cents.
I’m sharing this with you because when you decide to invest, you will do it with your money. I don’t want you to take my word for it. Make your own research before you put even a penny into any of the following projects. That’s enough of the disclaimer lets see the best cryptos right now in my opinion.
1. Polkadot (DOT)
Let’s start with the stats. Polkadots market capitalization at this time is $40,674,269,167. It’s a pretty good number. The trading volume at the time I’m writing this is $2,741,401,288. So as we can see there is definitely interest in this coin. But what makes it interesting is in my opinion?
The heart of the Polkadot project is its unique approach to blockchain technology. Its protocol provides the technology to transfer data across multiple blockchains. When I say data not just tokens, any data really. It is really a multi-chain environment. The core of Polkadot is called the relay chain. This is responsible for the shared security and consensus and cross-chain interoperability. Which means it’s responsible to work with any other block-chains.
But the truly innovative parts are parachains. These chains connect to the relay chain. Each of these parachains can have a specified job and they can control their own governance. It basically means that multiple computations can run symultiniously parallel. This really speeds up the process of transactions in a given time. By using the Polkadot network developers can create secure block-chains from day one thanks to this technology.
With Polkadot developers using the parachain technology can apply for a DOT auction. In short, that means that starers can use this network to fund their projects. If you are interested in detail I advise you to follow the link to their site or contact us if we should write a whole article about this project.
Polkadots coin the DOT is currently sold at 40.89$, but as you can see there is a lot of potentials. Some exchanges that list DOT are the following :
2. Solana (SOL)
The stats on Solana : $67,488,265,531 market capitalization. The daily trading volume by the of this writing is $3,422,695,524. The Solana project is really solid in my opinion and there’s a couple of reasons.
Solana’s main mission was to build a decentralized scalable user-friendly blockchain. They really did a good job because right now the Solana blockchain can make 2444 transactions per second. Solana is the fastest blockchain in the world right now. Also, it’s quite cheap considering the average price of a transaction is $0.00025. It is mentioned as a competitor to Etherium.
Over 400 projects build based on its blockchain. It’s alone carries high value but if we consider that from these projects more than a hundred are DeFi we can see that it will not go away tomorrow. Let’s not forget that the USDC stable coin also chose Solana. Another innovative feature they have is the validation process. Just like with Bitcoin miners validators can earn SOL for their efforts to keep the Solana blockchain secure and running. Basically, you can invest in Solana by giving your computing power.
This project really believes in decentralization and a censorship-free world. They put all their efforts into developing this blockchain to help others who think the same. If the future is in blockchain technology and decentralized finance Solana definitely going to be one of the big players in that game. All their documentation and tutorials are up on the project’s website, so if you thinking about developing on their blockchain don’t hesitate to visit them.
The coin of the project SOL is currently selling at 222.90$. A few of the exchanges that list it :
3. Ripple (XRP)
The market capitalization on Ripple is $52,384,180,449. The trading volume on the day of this post-writing is $4,671,418,895.
Ripple is a financial project started in 2012. Their goal was to create a system that can make word-wide transactions easier cheaper and faster. Right now this project is achieving this goal. They made a really fast blockchain to support their claims. The Ripple blockchain is capable of 1500 transactions per second with the volume of Visa. Even with this efficiency, their network is eco friendly doesn’t require as much energy as for example the BTC blockchain. If you were to transfer money to another country using a service based on ripple it approximately would take 4 seconds to do so. Another big factor is the transaction price. An average transaction costs around 0.0007442$ dollars.
They also have an open-source developing platform. That can be mainly used for payment options, e-commerce, and peer-to-peer services. This information on the project alone makes it a really promising project, but if you look at the customers, you see that they mean business. Just to name a few: Bank of America, Commercial Banking at Siam Thailand’s oldest bank, TransferGo a UK based money transfer service.
This project has a lot of potentials. It can be the future of money transfer. Also, this is the first coin on the list that is really cheap. It is because the coin itself serves as a change currency between the worldwide transfers. In my opinion, it doesn’t mean it is not a good investment because of the project’s successes.
XRP sells at 1.12$ at the time I write this. A few exchanges that list it :
Honorable mentions
The following projects that don’t make the list are still probably valuable. They just weren’t convincing me either because the market capitalization was low or I didn’t think they represent a great enough idea or just doesn’t achieve it in a long time. But that doesn’t mean they are worthless. As I mentioned earlier you invest with your decisions I’m just tired to help you decide. If you think otherwise please feel free to leave a comment. Let’s make a discussion about the potential big hitters in the crypto market.
NEO
NEOs market capitalization is : $3,083,706,416 and the daily trading volume today is : $3,083,706,984.
The original name for NEO was Antshares believed to be the first publicly available blockchain in China. The project started in 2014 February. The name change in 2017. Some call it the Chinese version of Etherium.
The NEO project’s mission is to create a secure decentralized ecosystem for the next generation of the internet. They want to provide a platform to create projects similar to Etherium only better. There are two kinds of tokens. NEO and GAS. NEO is the one that is sold to investors and GAS is to pay for fees. They provide a very flexible way to create apps because of their multi langue platform.
Shiba Inu
The market capitalization on this coin is : $27,381,862,092 and todays trading volume was : $4,271,596,151.
Shiba Inu’s main mission was to create an adorable coin just like Doge but on the Etherium-blockchain. But actually, there is more to it than just that. They want to create their own decentralized swap ShibaSwap. On this platform there coin, the SHIB will be available for investors. Despite that, they inspire artists to create NFTs, with the Shiba Inu dogs, that they will trade on the NFT market.
Also, they created a charity program using Amazon Smile to rescue Shiba Inu dogs with the help of the Shiba Inu Rescue Association. To increase the value of SHIB they “burned” 50% of the available supply. The validation process is based on proof-of-work but they try to change it to proof-of-stake.
Closing thoughts on Cheap Cryptos to Invest
Know you have an idea of what I think will go big in the future. But I have to say there are literally thousands of altcoins out there. I’m sure there are more gems to find or will come up in the near future. I advise you to look at these projects, visit their websites. See the stats for yourself and don’t just take them as it is written. Also never forget that investing in cryptocurrencies is considered risky. Don’t risk more than you can afford to lose. These markets are more easily manipulated than the more traditional ones. So always be careful and do your research before spending any hard-earned cash on cryptos. I wish you luck on the journey and see you in the next post!
If you liked this post please share it with your friends and follow us on Twitter to never miss any new content!