Every discussion about the most expensive cryptocurrencies has always centred on Bitcoin, Ethereum, Dogecoin, Solana, Cardano and other high-ranking expensive coins.
These coins own a great percentage of the crypto market capitalisation and are very attractive to investors seeking to invest in crypto. However, their prices could be a disincentive to potential investors who cannot afford them.
Every crypto project has its advantage and potential for success, hence, there’s no ranking for the cryptocoins which can be used to achieve this. In this article, we have analysed the top five cryptocurrencies, in a particular order, you can buy for less than a dollar for whatever purpose you choose.
It’s left for you to further research the cryptocoins and the projects you want to invest in and decide If you truly want to invest your money in them.
What Is A Cryptocurrency?
A cryptocurrency is a decentralized digital currency based on blockchain technology. A distinctive feature of the cryptocurrency is that it is not controlled by any central authority or government which makes them immune to any regulation or government interference.
Cryptocurrency is secured by cryptography which makes it highly impossible to duplicate or double spend.
The use of cryptocurrency has eliminated the intervention of all financial institutions on transactions carried out with the cryptocurrency, offering users anonymity and an even more secure financial network.
Top 10 Cryptocurrency Below $1 To Buy In 2022
Here, we are going to take a look at the top 5 cryptocurrencies you can get for below $1 in no particular order, remember that this information is subject to change because the crypto market is extremely volatile.
1. Shiba Inu(SHIB):
After Vitalik Buterin, founder of Ethereum, famously burned his share of the SHIB supply sent to him. The developers created Shibaswap(a Defi platform for staking and earning other SHIB assets).
SHIB’s success is more inclined to its strong community support than its merits. Many think the asset is not so special for the kind of attention it gets from investors.
However, SHIB trades at less than a cent for a piece. This is the very time to buy as much as you can.
Stellar is a blockchain protocol which was launched in 2014 as an open-source network that uses the Lumens(XLM) token to process transactions on the blockchain.
Stellar is uniquely recognised by the cryptocurrency community for its transaction speed and low fees. The platform can process between 1,000 and 5,000 transactions per second. The low fees give it a great potential for micro payments. Stellar offers a 1% inflation pool reward per year to hedge against inflation of its value. You can buy a Stellar coin for $0.123 today.
Hedera(HBAR) is another cryptocurrency you can get for less than a dollar. It uses a new distributed ledger technology (DLT) called Hashgraph.
Data in the Hashgraph are stored in hashes unlike blocks in the blockchain, but it still works like a blockchain.
The native cryptocurrency of the Hedera network, HBAR has a maximum supply of 50 billion and is quite energy productive.
Hedera is 38th in rank by market cap and is sold for about $0.071 per coin.
Tron is a very popular crypto asset that has been in existence since 2017.
It is operated on blockchain technology and can run smart contracts which enable developers to create decentralized applications.
Tron specialises in unifying content providers and the consumers of content for peer-peer transactions.
Currently, Tron has a market cap of $6.3 billion and ranks 14th by market cap. Its price has ranged between $0.05 and $0.15 in recent times. The current price for a Tron coin is $0.093.
Some market analysts still opine that Tron could hit $0.30 by the year 2025.
The birth of Ren became a reality in 2017 with the aid of some IT and cryptocurrency professionals.
Ren, as an Ethereum token, allows any cryptocurrency token to be transferred across blockchains and in turn, creates transaction freedom for users.
Ren’s distinctive feature from other digital currencies is an effective encryption software called the Ryo Currency Algorithm.
It was the team’s objective to enable normal people all around the world to make secure, fast and private payments.
Ren has undergone numerous changes and integrations since it was launched in 2017.
With a series of turbulence in the price, it fell to an all-time low of $0.01 in November 2018 and hit a high of $1.84 in February 2021.
It has a market cap of $120 million and ranks 221st by market cap. As of writing, the price of a coin is $0.1209.
Market analysts predict that the price may hit $1.46 by 2025.
It appears to be a good investment option for anyone looking to buy a coin below $1.
Is A Crypto Under $1 A Good Investment
You may be quite doubtful about the possibility of a coin which sells for a few cents to yield a good return to you in the future. Well, I will remind you that Bitcoin was launched in 2010 and it sold for $0.0008 but Bitcoin hit more than $60,000 in 2021.
Some of these under $1 coins can experience tremendous growth in value and price increase but there’s no better way to stay ahead of this opportunity than to buy them now.
It is quite difficult to predict which one of them will blow up soon but it is good to diversify your portfolio and increase your chances of reaping off the massive profit.
Buying cryptocoins is a great investment strategy, especially the cheaper coins with great potential to blow up in few times to come. There’s no better way to build a fortune than to take chances on these smaller coins that have a good potential of being the next big thing in the crypto market.
The cryptocurrencies featured in this article are just a few of the many good cryptocurrencies below $1 which you can invest in.
Disclaimer: All information contained in this article is all product of the author’s research and judgement, therefore it should not be considered financial advice. It is important that you carry out your research and take a decision on which suits you better.