Cryptocurrencies have gained widespread attention in recent years as a new and exciting investment opportunity. As the digital age continues to evolve, the appeal of decentralized currency has become increasingly popular. Cryptocurrencies, which operate outside the control of central banks and governments, offer an exciting alternative to traditional investments. However, with so many cryptocurrencies available, it’s challenging to know where to begin.
In this article, we will discuss the top 13 cheap cryptocurrencies to buy (that are worth buying) and why, from an investor’s perspective. By the end of this article, you’ll have a good understanding of the potential benefits and risks of investing in these cryptocurrencies and how to get started. So, let’s dive in!
Criteria for selection
- Market Capitalization: Market capitalization is the total value of a cryptocurrency’s circulating supply. We chose cryptocurrencies with a market capitalization that’s suitable for our risk tolerance.
- Price: We selected cryptocurrencies with a low price per token to ensure accessibility to all investors.
- Adoption: We considered the adoption rate of each cryptocurrency. A high adoption rate indicates that the cryptocurrency has real-world use cases and potential for growth.
- Technology: We looked at the technology behind each cryptocurrency to determine its potential for long-term success. Cryptocurrencies with innovative and unique technology were given higher priority.
- Liquidity: We selected cryptocurrencies with high liquidity to ensure that investors could buy and sell them easily without affecting the market price significantly.
- Team: We select a cryptocurrency that has a solid and transparent team. It’s essential to research the background and achievements of the founders.
By considering these criteria, we aimed to create a diverse list of cheap cryptocurrencies that have the potential for growth and long-term success. It is important to note that these criteria are not exhaustive and that investors should conduct their research before investing.
Solana (SOL)
Solana is a high-speed, low-cost, and energy-efficient blockchain designed to enable decentralized applications (dApps) and digital assets. Launched in 2018, Solana uses a unique consensus mechanism called Proof-of-History (PoH) to enable fast and secure transactions.
Solana has gained significant traction in the crypto community, with several dApps and projects being built on its blockchain. It has been touted as a potential competitor to Ethereum because of its speed, scalability, and low fees.
Why it’s worth buying
Solana offers a unique value proposition in the cryptocurrency market, providing a fast and efficient platform for dApps and digital assets. Its PoH consensus mechanism allows it to achieve high throughput and low latency, making it a strong competitor to other high-speed blockchains. As more projects are built on Solana and its ecosystem grows, the demand for SOL tokens is likely to increase, potentially driving up its price.
Where to buy: SOL can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Gate.io.
Potential benefits: High transaction throughput and low transaction costs, strong ecosystem, and community, and potential for growth in the dApp and DeFi space.
Risks: Competition from other high-speed blockchains, regulatory uncertainty, reliance on the success of dApps, and projects built on the Solana blockchain.
Near Protocol (NEAR)
Near Protocol is a decentralized blockchain platform that aims to provide a fast, scalable, and developer-friendly ecosystem for building decentralized applications. The platform was launched in 2020 and uses a proof-of-stake consensus mechanism to enable high throughput and low latency transactions. Near has a strong focus on developer experience, providing a range of tools and resources to make it easy to build and deploy dApps on its platform. It also supports smart contracts written in popular programming languages like Rust and JavaScript.
Why it’s worth buying
Near offers a fast and scalable blockchain platform that supports a wide range of decentralized applications. Its focus on developer experience makes it an attractive platform for building dApps, while its PoS consensus mechanism allows for high throughput and low latency transactions. As more projects are built on Near and its ecosystem grows, the demand for NEAR tokens is likely to increase, potentially driving up its price.
Where to buy: NEAR can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and KuCoin.
Potential benefits: Fast and scalable blockchain platform, developer-friendly ecosystem, strong community and ecosystem, the potential for growth in the DeFi and dApp space.
Risks: Competition from other scalable blockchain platforms, regulatory uncertainty, reliance on the success of dApps, and projects built on the Near blockchain.
Polkadot (DOT)
Polkadot is a decentralized blockchain platform that aims to provide a scalable and interoperable ecosystem for building decentralized applications and services. Launched in 2020, Polkadot enables cross-chain communication and interoperability between different blockchain networks. Polkadot has gained significant attention in the crypto community because of its scalability, interoperability, and governance model. Its DOT token has also performed well in the market, ranking among the top 15 cryptocurrencies by market capitalization.
Why it’s worth buying
Polkadot offers a fast and scalable blockchain platform that supports interoperability and cross-chain communication. Its sharded architecture and governance model make it a strong contender for building decentralized applications and services. As more projects are built on Polkadot and its ecosystem grows, the demand for DOT tokens is likely to increase, potentially driving up its price.
Where to buy: DOT can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, Kraken and Uniswap.
Potential benefits: Scalable and interoperable blockchain platform, strong governance model, strong community and ecosystem, the potential for growth in the DeFi and dApp space.
Risks: Competition from other interoperable blockchain platforms, regulatory uncertainty, reliance on the success of dApps, and projects built on the Polkadot ecosystem.
Hedera (HBAR)
Hedera Hashgraph is a decentralized public network that uses a unique consensus mechanism called Hashgraph to enable fast, secure, and fair transactions. Launched in 2017, Hedera is a stable platform for building decentralized applications, tokenization, and supply chain solutions.
Hedera has gained significant traction in the enterprise blockchain space, with several large corporations and organizations joining its governing council. It has also seen significant growth in the DeFi space, with several dApps and projects being built on its platform.
Why it’s worth buying
Hedera offers a fast and secure blockchain platform that is designed for enterprise-level applications and solutions. Its Hashgraph consensus algorithm provides high throughput and strong security guarantees, making it an attractive platform for building decentralized applications and solutions. As more projects are built on Hedera and its ecosystem grows, the demand for HBAR tokens is likely to increase, potentially driving up its price.
Where to buy: HBAR can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and OKX.
Potential benefits: Fast and secure blockchain platform, strong governance model, powerful community and ecosystem, the potential for growth in the enterprise blockchain and DeFi space.
Risks: Competition from other enterprise-level blockchain platforms, regulatory uncertainty, reliance on the success of dApps, and projects built on the Hedera ecosystem.
Filecoin (FIL)
Filecoin is a decentralized storage network that allows users to store, retrieve, and share data. Launched in 2017, Filecoin uses a unique consensus mechanism called Proof-of-Storage to enable fast, secure, and cost-effective storage solutions. Proof-of-Storage is a system that incentivizes users to store and provide access to data on the Filecoin network. Filecoin has gained significant attention in the decentralized storage space, with several large companies and organizations using its network for storage solutions. It has also seen growth in the NFT space, with several NFT marketplaces using Filecoin for storing and accessing NFT metadata.
Why it’s worth buying
Filecoin offers a unique and innovative solution to decentralized storage, providing a fast, secure, and cost-effective platform for storing and sharing data. Its Proof-of-Storage consensus mechanism incentivizes users to contribute storage space to the network, creating a distributed storage marketplace. As more companies and organizations use Filecoin for storage solutions and its ecosystem grows, the demand for FIL tokens is likely to increase, potentially driving up its price.
Where to buy: FIL can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and OKX.
Potential benefits: Decentralized storage platform, unique Proof-of-Storage consensus mechanism, strong community and ecosystem, the potential for growth in the storage and NFT space.
Risks: Competition from other decentralized storage platforms, regulatory uncertainty, and reliance on the success of companies and organizations using the Filecoin network for storage solutions.
TRON (TRX)
TRON is a decentralized blockchain platform that aims to provide a fast, scalable, and cost-effective ecosystem for building decentralized applications and services. Launched in 2017, TRON enables the creation of decentralized content and applications, including social media platforms, gaming, and entertainment. TRON uses a unique consensus mechanism called Delegated Proof of Stake (DPoS) to enable fast and secure transactions. It also supports smart contracts and allows developers to create custom tokens and decentralized applications on its platform. TRON has gained significant traction in the entertainment industry, with several large companies and organizations partnering with TRON for content distribution and creation. It has also seen a growth in the DeFi space, with several dApps and projects being built on its platform.
Why it’s worth buying
TRON offers a fast and cost-effective blockchain platform that is designed for entertainment and content creation. Its DPoS consensus mechanism allows for fast and secure transactions, making it an attractive platform for building decentralized applications and services. As more companies and organizations partner with TRON and its ecosystem grows, the demand for TRX tokens is likely to increase, potentially driving up its price.
Where to buy: TRX can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and OKX.
Potential benefits: Fast and cost-effective blockchain platform, strong ecosystem and community, the potential for growth in the entertainment and DeFi space.
Risks: Competition from other blockchain platforms, regulatory uncertainty, reliance on the success of companies and organizations partnering with TRON for content distribution and creation.
Chainlink (LINK)
Chainlink is a decentralized oracle network that connects smart contracts to real-world data and events. Launched in 2017, Chainlink provides a secure solution for fetching data from off-chain sources. Chainlink has gained significant attention in the DeFi space, with several large DeFi protocols using its network for price feeds and other data inputs. It has also seen growth in the gaming and NFT space, with several projects using Chainlink oracles for random number generation and other game mechanics.
Why it’s worth buying
Chainlink provides a secure solution for fetching data from off-chain sources, enabling smart contracts to interact with real-world data and events. Its decentralized Oracle network provides strong security guarantees, making it a suitable platform for a wide range of use cases. As more projects use Chainlink for data inputs and its ecosystem grows, the demand for LINK tokens is likely to increase, potentially driving up its price.
Where to buy: LINK can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Coinbase.
Potential benefits: Decentralized Oracle network, strong security guarantees, strong community and ecosystem, and the potential for growth in the DeFi, gaming, and NFT space.
Risks: Competition from other Oracle networks, regulatory uncertainty, and reliance on the success of projects using Chainlink for data inputs.
Uniswap (UNI)
Uniswap is a decentralized cryptocurrency exchange (DEX) that uses an automated market maker (AMM) system to enable users to trade cryptocurrencies with no intermediaries. Launched in 2018, Uniswap provides a decentralized and permissionless trading platform for ERC-20 tokens on the Ethereum blockchain. Uniswap has gained significant traction in the DeFi space, with several large DeFi protocols using its platform for token swaps and liquidity provision. It has also seen growth in the NFT space, with several NFT marketplaces integrating with Uniswap for token trading.
Why it’s worth buying
Uniswap provides a decentralized and permissionless trading platform for ERC-20 tokens, enabling users to trade cryptocurrencies without intermediaries. Its unique AMM system and liquidity provision model provide strong incentives for LPs, creating a strong and growing liquidity pool. As more DeFi protocols and NFT marketplaces integrate with Uniswap, the demand for UNI tokens is likely to increase, potentially driving up its price.
Where to buy: UNI can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Coinbase.
Potential benefits: Decentralized cryptocurrency exchange, strong liquidity provision model, strong community and ecosystem, potential for growth in the DeFi and NFT space.
Risks: Competition from other DEXs, regulatory uncertainty, reliance on the success of DeFi protocols and NFT marketplaces using Uniswap for token trading.
Stellar (XLM)
Stellar is a decentralized blockchain platform that aims to provide a fast, secure, and low-cost ecosystem for financial transactions and cross-border payments. Launched in 2014, Stellar enables the creation of a global financial network that is accessible to everyone. Stellar has gained significant traction in the cross-border payment space, with several large companies and organizations using its network for low-cost and fast transactions. It has also seen a growth in the DeFi space, with several dApps and projects being built on its platform.
Why it’s worth buying
Stellar offers a fast and low-cost blockchain platform that is designed for financial transactions and cross-border payments. Its SCP consensus mechanism provides strong security guarantees, making it an attractive platform for building decentralized applications and services. As more companies and organizations use Stellar for financial transactions and its ecosystem grows, the demand for XLM tokens is likely to increase, potentially driving up its price.
Where to buy: XLM can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Coinbase.
Potential benefits: Fast and low-cost blockchain platform, strong ecosystem and community, potential for growth in the cross-border payment and DeFi space.
Risks: Competition from other blockchain platforms, regulatory uncertainty, and reliance on the success of companies and organizations using the Stellar network for financial transactions.
VeChain (VET)
VeChain is a decentralized blockchain platform that aims to provide a secure and transparent solution for tracking and verifying the authenticity of products and services. Launched in 2015, VeChain enables the creation of a trusted and scalable supply chain ecosystem. VeChain uses a unique two-token system, comprising VeChain Token (VET) and VeChainThor Energy (VTHO), to enable fast and secure transactions on its platform. It also supports the creation of custom tokens and smart contracts, allowing developers to create decentralized applications on its platform. VeChain has gained significant attention in the supply chain and logistics space, with several large companies and organizations using its network for tracking and verifying products and services. It has also seen growth in the NFT space, with several NFT marketplaces using VeChain to verify the authenticity of NFTs.
Why it’s worth buying
VeChain provides a secure and transparent solution for tracking and verifying the authenticity of products and services, making it an attractive platform for supply chain and logistics use cases. Its unique two-token system and support for custom tokens and smart contracts provide a flexible and scalable platform for decentralized applications. As more companies and organizations use VeChain for supply chain tracking and verification and its ecosystem grows, the demand for VET tokens is likely to increase, potentially driving up its price.
Where to buy: VET can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Coinbase.
Potential benefits: Secure and transparent supply chain ecosystem, unique two-token system, strong community and ecosystem, potential for growth in the supply chain and NFT space.
Risks: Competition from other supply chain tracking and verification solutions, regulatory uncertainty, reliance on the success of companies and organizations using the VeChain network for tracking and verification.
Theta Network (THETA)
Theta Network is a decentralized video delivery network that aims to provide a high-quality streaming experience for users while reducing the cost of video delivery for content creators.
Launched in 2019, Theta Network enables the creation of a decentralized and community-driven video ecosystem. Theta Network uses a unique consensus mechanism called Multi-BFT to enable fast and secure transactions. Theta Network has gained significant traction in the video streaming space, with several large companies and organizations using its network for video delivery and streaming. It has also seen growth in the NFT space, with several NFT marketplaces using Theta for hosting and distributing NFTs.
Why it’s worth buying
Theta Network provides a high-quality video streaming experience that is decentralized and community-driven, making it an attractive platform for video delivery and streaming use cases. Its unique consensus mechanism and support for custom tokens and smart contracts provide a flexible and scalable platform for decentralized applications. As more companies and organizations use Theta Network for video delivery and streaming and its ecosystem grows, the demand for THETA tokens is likely to increase, potentially driving up its price.
Where to buy: THETA can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Coinbase.
Potential benefits: Decentralized and community-driven video delivery network, unique consensus mechanism, strong community and ecosystem, the potential for growth in the video streaming and NFT space.
Risks: Competition from other video streaming and delivery solutions, regulatory uncertainty, reliance on the success of companies and organizations using the Theta Network for video delivery and streaming.
Cosmos (ATOM)
Cosmos is a decentralized network of interconnected blockchains that aims to provide a scalable and interoperable ecosystem for decentralized applications. Launched in 2019, Cosmos enables the creation of a decentralized and interoperable internet of blockchains. Cosmos uses a unique consensus mechanism called Tendermint to enable fast and secure transactions. It also supports the creation of custom tokens and smart contracts, allowing developers to create decentralized applications on its platform. Cosmos has gained significant attention in the decentralized finance (DeFi) space, with several large DeFi protocols using its network for interoperability and scalability. It has also seen a growth in the gaming and NFT space, with several projects using Cosmos for interoperable gaming and NFT platforms.
Why it’s worth buying
Cosmos provides a scalable and interoperable ecosystem for decentralized applications, making it an attractive platform for DeFi, gaming, and NFT use cases. Its unique consensus mechanism and support for custom tokens and smart contracts provide a flexible and scalable platform for decentralized applications. As more DeFi protocols, gaming platforms, and NFT marketplaces use Cosmos for interoperability and scalability, the demand for ATOM tokens is likely to increase, potentially driving up its price.
Where to buy: ATOM can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Coinbase.
Potential benefits: Decentralized and interoperable network of blockchains, unique consensus mechanism, strong community, and ecosystem, the potential for growth in the DeFi, gaming, and NFT space.
Risks: Competition from other blockchain interoperability solutions, regulatory uncertainty, reliance on the success of DeFi protocols, gaming platforms, and NFT marketplaces using Cosmos for interoperability and scalability.
Algorand (ALGO)
Algorand is a decentralized blockchain platform that aims to provide a fast, secure, and permissionless ecosystem for decentralized applications and transactions. Launched in 2019, Algorand enables the creation of a scalable and decentralized internet of blockchains. Algorand uses a unique consensus mechanism called Pure Proof of Stake (PPoS) to enable fast and secure transactions. Algorand has gained significant traction in the decentralized finance (DeFi) space, with several large DeFi protocols using its network for transactions and liquidity provision. It has also seen a growth in the gaming and NFT space, with several projects using Algorand for gaming platforms and NFT marketplaces.
Why it’s worth buying
Algorand provides a fast, secure, and permissionless blockchain platform that is designed for decentralized applications and transactions. Its unique consensus mechanism and support for custom tokens and smart contracts provide a flexible and scalable platform for decentralized applications. As more DeFi protocols, gaming platforms, and NFT marketplaces use Algorand for transactions and liquidity provision and its ecosystem grows, the demand for ALGO tokens is likely to increase, potentially driving up its price.
Where to buy: ALGO can be bought and sold on several popular cryptocurrency exchanges, including Binance, Huobi, and Coinbase.
Potential benefits: Fast and permissionless blockchain platform, unique consensus mechanism, strong community and ecosystem, the potential for growth in the DeFi, gaming, and NFT space.
Risks: Competition from other fast and permissionless blockchain platforms, regulatory uncertainty, reliance on the success of DeFi protocols, gaming platforms, and NFT marketplaces using Algorand for transactions and liquidity provision.
Conclusion
Investing in cryptocurrencies can be a risky but potentially lucrative endeavor. The 13 cryptocurrencies outlined in this article are all affordable and have unique features that make them worth considering for investment. As with any investment, it’s important to do your own research and assess the potential risks and benefits before deciding. It’s also important to remember that the cryptocurrency market can be volatile and unpredictable, so it’s crucial to approach investments with a long-term perspective and a diversified portfolio.
