Best cheap cryptocurrency to buy now
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A common crypto investing strategy for beginners is to focus on the price per coin of each cryptocurrency, seeing one Bitcoin as too expensive, and very cheap cryptos as more likely to have the potential for high gains.
Even though it’s possible to buy a fraction of Bitcoin, for example 0.1 BTC for a few thousand dollars, or even just a few Satoshis worth, retail investors often feel they’ve ‘missed the boat’ on Bitcoin given its high price now.
It’s tempting to want to own many crypto coins or tokens at low prices in the hope that the altcoin project they invest in becomes ‘the next Bitcoin’. BTC first started trading at a price of under $2 in its early days, back in 2010, before reaching its current all-time high of over $69,000 in late 2021.
Top cheap cryptocurrency to buy – XRP?
One popular altcoin that’s always been a cheap cryptocurrency to buy is XRP – even though it’s been around almost as long as Bitcoin. Ripple Labs was founded in 2012.
For example you could invest in Ripple today and own about 5,000 XRP at the current exchange rate for the price of 0.1 BTC. A better question is to ask though is what is the best cheap cryptocurrency to buy due to the percentage increase, or ROI (return on investment) possible rather than specific prices. XRP is unlikely to ever reach $69,000 as it has a much higher supply.
The total supply of Bitcoin that can be mined is finite, at 21 million, of which about 19 million are currently in the circulating supply, according to Coinmarketcap. That’s a low number for cryptocurrency, explaining the high price of one Bitcoin. The XRP circulating supply though is about 47 billion, out of a total supply of 100 billion, which is why it’s a cheap cryptocurrency – the more coins, the lower price per coin. Supply and demand.
Currently the 6th largest cryptocurrency in 2022 in terms of market capitalization, XRP would overtake Bitcoin in marketcap if it increased 20x in price from it’s current point ($0.77), to about $15. The current XRP marketcap – $37 billion – is about 20x lower than that of Bitcoin – $715 billion.
So not only is XRP unlikely to ever be worth $69,000 per coin, it’s also unlikely to ever be worth $15 (or $589 as some of the Ripple community predict, partly as a joke) as at that price it would ‘flip’ BTC i.e. overtake Bitcoin’s market share in the cryptocurrency market. No crypto has ever managed to do that, although some high profile traders made predictions Ethereum could in 2022.
Even if no crypto ever flips Bitcoin to become ‘the next Bitcoin’, it’s still possible to get rich or make life-changing profits through finding the best cheap cryptocurrency to invest in. Altcoins can increase hundreds or thousands of percentage points in value. They are very volatile financial assets.
So, which altcoins should you pick to make 2x, 3x, 10x, even 100x gains? Why, when and where to buy cheap cryptocurrency are also important factors.
One of our coins picks is a brand-new project available on a lesser known decentralized exchange (DEX), one is linked to a new emerging asset class in the crypto space, and the others have current bullish narratives in 2022 and are at a cheap price compared to their all-time high.
Solana
Solana (SOL) rose in value from under $3 to an ATH of $260 in late 2021. One of the most popular altcoins, it’s now back under $100, currently trading at $90 today, a good time to ‘buy the dip’ as a long-term investment.
The SOL community see it as a potential ‘Ethereum killer’ that could flip ETH’s marketcap, by performing its use case in a more efficient way with a much faster rate of transactions per second and lower ‘gas fees’.
Solana was recommended in a viral Twitter exchange by FTX exchange CEO and billionaire Sam Bankman-Fried, who thanks to his success in crypto is now the 32nd richest person in the world according to the Forbes rich list. Having the endorsement of a crypto billionaire is high praise.
Solana can also be staked at Huobi exchange for an estimated 3.5% APY (annual percentage yield), so you can earn money and outperform most bank savings accounts while holding it, even if it doesn’t increase in value and remains stable.
Decentraland
An exciting new emerging asset class to come out of cryptocurrency is NFTs (non-fungible tokens). Since NFTs and crypto are slightly different, holding some crypto that is related to NFTs could be a good hedge against crypto – if it fails, there should still be a use case for NFT related coins and tokens.
Decentraland is a platform powered by the Ethereum blockchain network that enables users to build, create, and develop artwork in the form of NFTs, and its associated crypto coin is MANA.
Interest can be earned on MANA holdings at Crypto.com – again generating a source of income even if the price of MANA remains doesn’t go up. MANA has plenty of room to grow however, being a cheap cryptocurrency – currently priced under $3, with an ATH of $5.90.
Ripple
‘Is Ripple a good investment’ has been a common question over the decade since its launch. Just after the 2017 bull run, XRP hit its ATH of $3.84 in Jan 2018, at one point being the 2nd largest crypto by marketcap (now 6th).
Since then many have lost interest in it as it dropped under $1 and hasn’t moved much in years. The bullish case for XRP in 2022 however, and the main reason we consider it potentially good investment now, is there are signs it may win its lawsuit against the SEC. That could allow investor confidence in XRP to improve and for it to retest its highs and previous marketcap.
The XRP 2022 yearly open price was $0.83, versus a 2021 yearly open of $0.22. So the return on investment (ROI) of holding XRP through 2021 was just under 400%, outperforming Gold (which lost 4% on the year), the S&P 500, and the least cheap cryptocurrency, Bitcoin (which gained over 50%).
Lucky Block
Lucky Block aims to build a worldwide crypto lottery platform that solves the issues faced by fiat currency lotteries and makes them more accessible. LBLOCK token holders can also receive jackpot redistributions as an incentive for holding, earning passive income even if the project remains at a stable price.
LBLOCK tokens are also under a month old – launching trading on Pancakeswap DEX on Jan 26th, 2022. So there’s room for growth. When considering where to buy cheap cryptocurrency (LBLOCK is still priced under 1 cent) Pancakeswap is a good choice as crypto projects on there are lesser known. The cheap cryptos on smaller exchanges often pump when eventually listed at larger cryptocurrency exchanges.
Some more info on why it’s potentially the best cheap cryptocurrency to buy are covered in this article. Its marketcap is still slightly under $1 billion. Unlike SOL and XRP which are top 10 marketcap projects (and MANA which is 30th), LBLOCK is ranked #2863, making it a very cheap cryptocurrency to buy.
Cryptocurrency markets are highly volatile and your investments are at risk.
How to buy cheap cryptocurrency
SOL, MANA and XRP can be safely and securely bought on FCA regulated crypto exchange eToro, or on Huobi and Crypto.com where you can earn yield on SOL and MANA either in the form of crypto interest or staking rewards.
LBLOCK can be bought on Pancakeswap where many altcoin ‘gems’ began trading at cheap prices before rising in value later on once listed on major crypto exchanges. Read a guide on how to buy crypto on Pancakeswap on the LBLOCK website.
Your capital is at risk.
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