Buying cryptocurrencies is a risky investment due to the high market volatility. But if you want to get started cheaply and with less risk, there are many options in the field. So if you are new to the market, you can consider these very cheap altcoin projects.
8 low cost altcoins
There are advantages to penny-worth crypto investments. Chief among these is the ability to get excellent returns with a small amount of money to invest. This list, which we prepared as Kriptokoin.com, examines altcoin projects under 10 cents. These are analysts’ favourites…
Tron (TRX)
Many experts have put TRON on the list of the best altcoins to buy. In 2018, TRON acquired the file-sharing service BitTorrent. CoinMarketCap lists Tron as the 13th largest crypto. Although it is less than a dollar in price, its volatility is low compared to its competitors. At current prices, TRX is trading under 10 cents. Tron’s advantages include its low price, being traded on more than 130 exchanges, and high market capitalization. The downsides include its competition with Ethereum and Cardano and its sensitivity to bear markets.
Ripple (XRP)
Ripple Blockchain, a payment protocol, has a native cryptocurrency called XRP. XRP has lost more than 62% of its value in the crypto winter of 2022. However, its low price makes this low-cost altcoin attractive as it has risen above $3 in the past. Also, some experts are targeting $50 or even $75 for the altcoin by the end of 2030. This puts Ripple on our list of good low-cost altcoin projects. At the time of writing, it is trading pretty close to a 52-week low of 28 cents. Accordingly, it is traded at only 35 cents. Ripple has been involved in a lawsuit with the SEC, but as of July 2022, the payment platform looks set to win. However, due to litigation, many cryptocurrency exchanges do not list XRP.
Shiba Inu (SHIB)
If you’re looking for one of the cutest penny cryptos to keep, consider the Shiba Inu. Originally launched as a response to Dogecoin, Shiba Inu is currently one of the most popular meme coins. It’s also a really affordable altcoin, priced at just $0.0000107. Most cryptos, including Bitcoin, have crashed recently. However, the Shiba Inu gained more than 30% of its value. However, if you plan on making any money with SHIB, the name of the game is volume trading. Analytics Insight claims it “could take 10 years or 10,000 years for the Shiba Inu to reach $1.” The advantages of the token include its low cost of entry and running on Ethereum. The downsides are that it’s very low in value and will never reach $1.
Cardano (ADA)
Cardano’s native crypto, ADA, ranks 8th in terms of market cap, according to available data. Cardano is a highly reputable Blockchain network with faster transaction speeds than Ethereum. It does not use the Proof-of-Work algorithm that many other major currencies use. Instead, it works with the more energy efficient Proof-of-Stake technology. Cardano has a cryptocurrency trading under $1. However, it is still in the top 10 of all cryptocurrencies by market cap. Only 75% of the total cryptocurrency supply has been released. This therefore means that there are many opportunities for both miners and investors. Best of all, experts predict that Cardano could go as high as $49.98 by 2030. At the time of writing, the altcoin was changing hands at $0.4832.
Rhine (REN)
Some investors are calling the REN the next big thing in cryptocurrency. It is among the top 100 cryptocurrencies by market value. However, it is still trading below $1 per altcoin. In fact, the project runs on the venerable Ethereum Blockchain. The Ren project allows users to access DeFi products without having to sell their assets. However, they can transfer their existing crypto into a smart contract using REN tokens. Ren’s advantages include its low price, listing on many exchanges, and running on Ethereum. One of the disadvantages is that it is not very well known. At the time of writing, the REN was trading at $0.1609.
Decentraland (MANA)
Decentraland is trading at 85 cents in mid-July, according to Coinbase data. MANA is an Ethereum Blockchain-based token used on Decentraland’s metaverse platform. The altcoin is used to buy property, goods and services in Decentraland. However, assets like dollars are traded in exchange for crypto exchanges. To date, Decentraland plots have even been sold for $2.4 million. As Metaverse grows in popularity, MANA will represent a major investment. Additionally, the high competition in the Metaverse space and the relatively new nature of Decentraland can be a disadvantage.
Polygon (MATIC)
Polygon was trading under 2 cents in 2021. But then it skyrocketed by 13,000% and started out as a true crypto. MATIC was originally designed to process transactions faster than the Ethereum network. Thus, it quickly gained the appreciation of investors. It is currently trading at 75 cents on Coinbase. Also, 78% of traders are currently buying the bullish crypto. The advantages of the altcoin project include fast transaction processing from Ethereum and its promise. The disadvantages include high competition in the space and more volatility than lower-priced cryptos.
Chiliz (CHZ)
Chiliz provides the creation of multiple of the best cryptocurrencies to buy in 2022. The project is a sports and entertainment cryptocurrency traded on the Socios platform. It allows sports teams to create custom fan tokens to distribute to fans. Analytics Insight has put Chiliz on its watchlist for HODL and the best cryptocurrencies to buy. According to current price data, the altcoin is trading at just over 10 cents. Chiliz’s advantages include partnerships with many major football clubs. Among its disadvantages is that it cannot attract investors who are not interested in sports.
7179
