Bitcoin frequently dominates cryptocurrency investment discussions, followed by Ethereum (ETH) and other top ten assets such as Cardano (ADA) and Solana (SOL). While these currencies are well-established in the cryptocurrency industry, there are other lesser-known coins available for pennies on the dollar that offer the same potential as investment options and blockchain projects.
We will look at four of the top cryptocurrencies available for less than a dollar. They are listed in no particular sequence, as each project is unique in its own right and has a different chance of success. It is up to the investor to research potential investments and determine whether or not to invest in them.
Naturally, Crypto is a quickly expanding business, and you may not want to limit yourself to Crypto with a price of less than $1 per unit. Additionally, we've included top cryptos under $5 at the bottom.
Finally, individuals should keep in mind that cryptocurrency is divisible, with some exchanges offering a piece of Bitcoin for $1.
What are Altcoins?
While the phrase "altcoin" applies to any cryptocurrency other than Bitcoin, it is most frequently referred to as coins other than Ethereum, Binance Coin, and Cardano. While many cryptocurrencies have unique applications, other altcoins are merely imitations of different cryptocurrencies on the market, which make them unsuitable as long-term investments.
Before investing in an altcoin, conduct due diligence on the cryptocurrency project. Before investing in a cryptocurrency, it is critical to analyze the team members, the total number of coins released, the use cases, and the future growth potential. If similar projects are attempting to tackle the same problem as the altcoin you are considering investing in, you should assess which coin is best positioned to grow its market share.
The History of Altcoins
Numerous cryptocurrencies are frequently abbreviated as altcoins. The phrase altcoin means any cryptocurrency that is not Bitcoin. Nevertheless, the word is now used to refer to cryptocurrencies that are not as well-known as Ethereum or Binance Coin.
Coincidentally, many of these altcoins are trading at the $1 mark.
Namecoin was the very first altcoin, having been founded in 2011. Due to the fact that Bitcoin was an open-source cryptocurrency, other developers and businesses produced rival coins using nearly identical algorithms but with minor differences. For example, Litecoin distinguishes itself from Bitcoin by approving transactions more frequently.
Thousands of altcoins have been launched since the inception of Bitcoin, and the majority of them have failed. The coins presented here are not "hype" coins but rather currencies based on legitimate technology or already market leaders.
The most significant cryptocurrency under $1 that we've discussed today is equivalent to penny stocks, and they are pretty inexpensive to acquire yet can be highly volatile.
With that stated, the top penny cryptocurrencies provide significant growth potential if chosen carefully.
We examine several of the primary reasons you might want to add some crypto under $1 to your portfolio in the sections below.
Purchase Penny Cryptocurrencies to Diversify Your Portfolio
With over 18,000 active cryptocurrencies, it might be challenging to determine which ones are worthwhile and will deliver the most significant profits in the future. This is one of the reasons why many people want to build a broad portfolio when it comes to investing.
Since their creation, several of the initial well-known top cryptocurrencies have seen a remarkable increase in value. Accordingly, many people are looking for new cryptocurrencies to invest in 2022 that may appreciate similarly. The obvious choice is well-known crypto-assets such as Bitcoin and Ethereum.
However, several additional low-cost alternatives in the shape of penny cryptocurrencies may offer higher growth potential. As a result of the low prices of the cryptocurrencies discussed today, it's easier to build a varied portfolio of assets.
This increases traders' chances of earning great returns in the future as if one deal does not perform well; there are others to fall back on.
When it comes to investing in cryptocurrency, Bitcoin is considered the industry standard. Due to their lower popularity and market capitalizations than Bitcoin, altcoins are often riskier investments. If you believe an altcoin will underperform Bitcoin throughout your investing horizon, you may be better off simply purchasing Bitcoin.
1. Lucky Block
Lucky Block, which began in January 2022, is the most significant cryptocurrency under $1 to buy. Said, this project is developing a cryptocurrency lottery platform, and it will run on the Binance Smart Chain and is expected to revolutionize and improve traditional lottery drawings.
By conducting these draws via blockchain technology rather than traditional 'offline' techniques. Additionally, because the daily lottery is open to everyone, this inexpensive cryptocurrency will be able to offer more frequent and larger prize payouts.
As an investor seeking the most excellent penny crypto coins, you'll appreciate Lucky Block's pricing point. Additionally, Lucky Block's founders incorporated a lot of features that make buying it's token an excellent long-term investment.
According to the developers, 10% of each prize will be awarded to Lucky Block investors as a reward. 10% will be utilized for expansion and marketing, and 10% will be donated to charity. The lucky block is the most acceptable new cryptocurrency to invest in 2022, with a market cap of just $110 million at writing.
Lucky Block's all-time high price was $0.009. At $0.002, the token is trading about 78 percent below its all-time high, representing a bargain for investors looking for the most fantastic penny cryptocurrency prospects.
2. Chiliz
Chiliz is a cryptocurrency concept focused on leisure and sports. It debuted its digital token in 2018. Socios is a fan engagement platform that partners with some of the world's most prestigious sports franchises. Chiliz is the official cryptocurrency and exchange of the Socios network.
As a result, fans can purchase tokens and voting rights on Socios from their favorite clubs. Fans who purchase these governance tokens have the ability to influence the sports teams they support. For instance, a team may allow token holders to vote on the design of the shirts they wear.
Chiliz is one of the most promising cryptocurrencies due to this type of blockchain-based sports fan involvement. At the time of writing, this cryptocurrency's market value exceeds $1.8 billion. In March 2021, the price of a Chiliz token reached an all-time high of $0.89.
However, as a result of widespread price instability affecting the entire cryptocurrency market, the price plummeted below $0.40. By November 2021, the price had climbed to almost $0.50 but had since plummeted to $0.25. Chiliz is now trading between $0.10 and $0.50 on the open market, making it an attractive option for anyone seeking the best Crypto under $1.
Chiliz is expected to expand its collaborations with a variety of sporting organizations. As a result, some analysts believe Chiliz's price could reach as high as $7 per token by 2025. Again, while investing in cryptocurrencies, never take speculation for granted.
3. VeChain (VET)
VeChain's (VET) objective is to aid in tracking physical products along the whole supply chain. VeChain's goal is to increase openness surrounding the origins of things and their journeys to their final destinations by combining blockchain technology and real hardware attached to goods.
VeChain was formed in 2015 by Sunny Lu, the former CIO of Louis Vuitton China, as a subsidiary of Bites, a more extensive blockchain technology startup. The VET token was initially introduced on Ethereum as an ERC-20 token called VEN before its ticker name was changed to VET. This transition to the VET token was part of VeChain's 2018 rebranding effort, including the introduction of VeChain's native blockchain.
VeChain employs a consensus process based on proofs of authority, and holders can stake their VET in exchange for VeThor Tokens (VTHO). VTHO is utilized to fuel blockchain calculations and procedures. VET is now ranked 34th according to market capitalization.
4. Stellar
Stellar started as an open-source payment network in July 2014. The platform has a transaction processing rate of 1,000 and 5,000 per second. The team behind Stellar has a clear road plan in place, which includes a focus on network innovation, participation, and scalability.
Additionally, we promote inclusiveness and diversity and invest in community outreach and marketing. The ultimate goal is to establish a single network that serves as the backbone for all of the world's financial systems. Users can use Stellar to create, send, and receive digital representations of any currency.
In other words, you could use Stellar to send digital representations of any fiat currency, such as the United States dollar or British pound. Additionally, it can convey expressions of digital currencies, such as Bitcoin. The platform intends to make it affordable and straightforward for users to participate in the global economy without excluding individuals from underdeveloped countries.
Additionally, the network operates a decentralized exchange via which users can trade cryptocurrency and other assets. Stellar Anchors are verified financial organizations that act as banks and hold deposits for non-crypto investments. After that, the platform provides depositor tokens for such purchases.
When the tokens are withdrawn or redeemed, the depositor receives their funds back. To safeguard the value of the assets, Stellar pays an annual inflation pool return of 1%. Stellar is a precious cryptocurrency with a market capitalization of about $25 billion at writing.
Additionally, it is one of the greatest cryptos under $1. The price of a Stellar coin has fluctuated between $0.15 and $0.60 in recent cycles. During the 2017 cryptocurrency bull run, Stellar reached an all-time high of $0.79 before plummeting. Numerous market observers believe Stellar might earn $1.75 by 2025, suggesting that now may be the time to invest.
Other Cryptos Under $1
Algorand's (ALGO) shares are presently trading at $0.86. The project has a market capitalization of $2.8 billion, placing it in the top 50 cryptocurrencies in terms of market capitalization. Algorand's proof-of-stake network allows smart contracts, enabling faster and more affordable transactions than cryptocurrencies like Ethereum.
Decentraland (MANA) is the cryptocurrency that supports Decentraland, a blockchain-based virtual reality game. The game allows users to purchase, sell, and monetize virtual reality land, with some estates selling for far over a million dollars. The token is trading at roughly $0.75 at the time of writing. Additionally, the project has a market capitalization of more than $1 billion.
USD Coin (USDC) is a stablecoin, which means that you will not earn a profit until and until you put your USDC to work. However, this is the least hazardous method of investing in cryptocurrency, and you can still earn a profit. USDC stablecoins can be used with DeFi platforms such as Compound and Aave to reach nearly 10% annual income on your stablecoin investment.
If you're ready to pay a bit more per unit, numerous coins have significant upside. Many of the coins mentioned below were initially priced at less than $1 last year, but we were forced to upgrade them to the current level, and they may be even higher next year.
Basic Attention Token (BAT)
Basic Attention Token (BAT) is a cryptocurrency that aims to address a well-defined and well-known issue. The advertising industry is beset by many difficulties, including advertiser fraud, user abuse, and an abundance of trackers, resulting in delayed page loads and a bloated user experience. Brave Software Inc. developed the Basic Attention Token as part of its strategy to redefine and reshape how the internet treats users, displays adverts, and collects user data. Currently rated 74th in market capitalization and trading at slightly over $1 each.
THETA
Theta is an intriguing cryptocurrency that compensates users for utilizing their unused bandwidth to assist other users in improving streaming quality and load times. The more bandwidth individuals contribute, the more THETA tokens they get. Individuals can even run the node while asleep or not viewing content, providing additional bandwidth and earning other prizes. This is a really intriguing thought when considering how much content is consumed via streaming these days. THETA, which is now ranked 40th in terms of market capitalization and trading at roughly $4 per share, has plenty of room to develop.
Cardano (ADA)
Cardano (ADA), the brainchild of Ethereum co-founder Charles Hoskinson, is one of the most exciting blockchain projects. Cardano is now trading at less than $1.25 per coin. And it is ranked seventh in terms of market capitalization, has much potential, and reached a record high of more than $3 in mid-2021.
Fantom (FTM)
Fantom (FTM) has been making waves in the cryptocurrency space over the last year, experiencing tremendous growth. FTM's utility as a DeFi service center is enhanced by using a directed acyclic graph (DAG) intelligent contract platform. FTM soared to a record high of $3.48 in October 2021 after beginning the year considerably below $1.
Frequently Asked Questions
Which Penny Cryptocurrency Should We Invest in?
The list goes on and on. The trick, though, is to invest in a cryptocurrency or token that will appreciate. Ensure to verify the genuine rationale that justifies future potential in the present tense. Determine whether such elements will contribute to value creation in the short or long term.
What is the Cheapest Crypto to Invest in?
Dogecoin, VeChain, Stellar, Chilliz, and Reef are among the most affordable penny cryptocurrencies available today. They are currently valued at less than a dollar or a few dollars, but they have enormous potential to expand and create massive earnings in the future.
How Should We Invest in Penny Cryptocurrencies?
Penny cryptocurrencies can be purchased on cryptocurrency exchanges that list them. If you're seeking penny cryptocurrency investments, our list contains numerous options. Additionally, you may check the list of cryptocurrency exchanges to see if these tokens and cryptos are available.
Conclusion
All of the cryptocurrencies listed above and the networks that support them are entirely legitimate, and they are far less than that. They do, however, have the potential to surpass the $1 barrier and join the likes of ETH, ADA, and LTC in the top cryptocurrencies club.
While some have innovative real-world uses, such as VeChain for supply chain management, others, like the renowned Dogecoin, are riding a never-ending hype. Finally, you should invest in the stocks you have the most confidence in based on price changes, market capitalization, and network.
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