Cheapest Crypto You’ve Actually Heard Of
Ever since its creation in 2009, Bitcoin has been the king of the cryptocurrency world. It now possesses a market cap of $1.67 trillion, comprising 59% of the entire cryptocurrency market all by itself, according to CoinGecko .
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However, for this very reason, many crypto investors want nothing to do with Bitcoin, instead seeking out smaller cryptocurrencies that may have more potential gain in them. While not exactly household names, if you’ve dabbled in the crypto world at all, you’ve likely heard of many of them. And unlike Bitcoin, with its current price tag of over $84,000 per coin, many of the most popular cryptos trade for just a few hundred dollars — or, in many cases, for just a few fractions of a cent.
Here’s a look at some of the cheapest cryptos that you may have actually heard of. In spite of the fact that all of these cryptos rank in the top 20 in terms of market capitalization, many are surprisingly affordable. And in a market that’s still mostly unregulated and highly speculative, you may be drawn to invest in some of them, hoping for a big payout down the road. Just be sure to do your homework and only invest in cryptos that you truly understand — with money that you can afford to lose .
Tether (USDT)
Including Tether on this list is a bit of a cheat, as the crypto is actually a “stablecoin.” This means that its value is intended to remain stable, a commodity that seems to run counter to the crypto investment mindset of the more volatility, the better. Tether is tied to the value of the U.S. dollar, so its price is expected to remain at $1 per coin.
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XRP (XRP)
XRP is used to facilitate rapid and low-cost transactions on the Ripple network. Its sizable market cap makes it the 4th-largest cryptocurrency in existence.
Dogecoin (DOGE)
Dogecoin has long been the favorite cryptocurrency of colorful Tesla CEO Elon Musk, and the name of his “Department of Government Efficiency” in the Trump Administration is a nod to this affiliation. The coin, which was originally conceived as a joke, has popped in the past when Musk has tweeted about it, and it’s now the 8th-largest cryptocurrency in terms of market cap. Billionaire investor Mark Cuban has also supported Dogecoin .
Cardano (ADA)
Cardano has gained popularity for its energy-efficient “proof of stake” model. It also has a limited supply, like Bitcoin, which supporters say will encourage future price increases as demand rises.
Stellar (XLM)
Some bullish investors have referred to Stellar as “the best chain on the market.” The crypto’s developers claim that Stellar is “fast, efficient, scalable and affordable.”
Shiba Inu (SHIB)
Even with its minuscule price, Shiba Inu has quite a sizable market cap of nearly $8 billion. The coin is the poster child for speculative excess, as it gained an unfathomable 7 million percent in less than a year after its creation in Aug. 2020. Of course, as is so often the case in the crypto world, the coin now sits 85% below its all-time high — but that is still more than 16 million percent above its all-time low in Aug. 2020, according to CoinMarketCap .
Polkadot (DOT)
Polkadot allows connections among different blockchains, even those with incompatible networks. Bitcoin and Ethereum, for example, are by far the two biggest cryptos in the world, but they cannot send data across their networks without a protocol like Polkadot.
Solana (SOL)
Solana is the “most expensive” of the commonly known “cheap” cryptos, with a price of around $130. It ranks #6 in terms of global crypto market cap, supported by investors who believe in its rapid processing speed and low fees.
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