Cryptocurrencies are digital assets that use cryptography to secure transactions and control the creation of new units. They are decentralized, meaning they operate without the need for a central authority or intermediary. Cryptocurrencies have gained popularity in recent years due to their potential to offer fast, low-cost, and transparent transactions across borders and industries.
However, not all cryptocurrencies are created equal. Some have more advantages than others, such as scalability, security, innovation, adoption, and utility. Moreover, some cryptocurrencies are more affordable than others, meaning they have a lower price per unit. This can be attractive for investors who want to diversify their portfolio and get exposure to different projects and sectors.
In this article, we will explore 8 of the cheapest cryptocurrencies that people should invest right now, based on their current price, market capitalization, and future prospects.
1. Ripple (XRP)
Ripple is a payment network that aims to facilitate cross-border transactions between banks and other financial institutions. It uses its native cryptocurrency, XRP, as a bridge currency to exchange different fiat currencies and other digital assets.
XRP is one of the most widely used and traded cryptocurrencies in the world, with a market capitalization of over $50 billion as of June 2023.
XRP is also one of the cheapest cryptocurrencies to buy, with a price of around $1.15 per coin. Ripple has a strong vision to become the global standard for money transfer and settlement, and it has partnered with hundreds of banks and payment providers around the world.
XRP also has a fast transaction speed, low fees, and high scalability, making it an ideal choice for investors who want to benefit from the growth of the payment industry.
2. Cardano (ADA)
Cardano is a smart contract platform that aims to deliver more advanced features than any other blockchain protocol. It is designed to be scalable, secure, interoperable, and sustainable, using a unique two-layer architecture that separates the settlement layer from the computation layer.
Cardano also uses a novel proof-of-stake consensus mechanism called Ouroboros, which is claimed to be more energy-efficient and secure than proof-of-work.
Cardano’s native cryptocurrency, ADA, is used to power the network and enable smart contracts and decentralized applications (DApps). ADA has a market capitalization of over $40 billion as of June 2023, and a price of around $1.25 per coin.
Cardano is one of the most ambitious and innovative projects in the crypto space, with a roadmap that includes launching smart contracts, governance, identity, and scaling solutions. ADA is a cheap cryptocurrency that offers investors a chance to participate in the development of a next-generation blockchain platform.
3. Tron (TRX)
Tron is a blockchain-based platform that aims to create a decentralized internet and entertainment system. It allows users to create, share, and consume digital content using peer-to-peer technology and smart contracts. Tron’s native cryptocurrency, TRX, is used to power the network and enable transactions between content creators and consumers.
TRX has a market capitalization of over $10 billion as of June 2023, and a price of around $0.14 per coin. Tron is one of the most popular platforms for DApps and decentralized finance (DeFi) applications, with over 40 million active users and over 1 billion transactions per day. TRX is a cheap cryptocurrency that offers investors an opportunity to tap into the potential of the digital content and entertainment industry.
4. Uniswap (UNI)
Uniswap is a decentralized exchange (DEX) that allows users to swap any ERC-20 token without intermediaries or fees. It uses an automated market maker (AMM) model that relies on liquidity pools provided by users rather than order books. Uniswap’s native cryptocurrency, UNI, is used for governance and incentivizing liquidity providers.
UNI has a market capitalization of over $15 billion as of June 2023, and a price of around $45 per coin. Uniswap is one of the most widely used and trusted DEXs in the crypto space, with over $1 billion in daily trading volume.
UNI is a cheap cryptocurrency that offers investors exposure to the growth of the DeFi sector and the demand for decentralized trading solutions.
5. Litecoin (LTC)
Litecoin is a fork of Bitcoin that aims to offer faster, cheaper, and more scalable transactions. It uses a similar proof-of-work consensus mechanism as Bitcoin, but with a shorter block time of 2.5 minutes and a larger supply of 84 million coins. Litecoin’s native cryptocurrency, LTC, is used as a medium of exchange and store of value.
LTC has a market capitalization of over $12 billion as of June 2023, and a price of around $180 per coin. Litecoin is one of the oldest and most established cryptocurrencies in the market, with a loyal community and a wide adoption. LTC is a cheap cryptocurrency that offers investors a reliable and proven alternative to Bitcoin.
6. Binance Coin (BNB)
Binance Coin is the utility token of Binance, the world’s largest cryptocurrency exchange by trading volume. It is used to pay for trading fees, access various services and features on the Binance platform, and participate in token sales and launchpad projects.
BNB also has a deflationary mechanism that burns a portion of its supply every quarter, reducing its total supply from 200 million to 100 million coins.
BNB has a market capitalization of over $80 billion as of June 2023, and a price of around $500 per coin. Binance Coin is one of the most successful and versatile cryptocurrencies in the market, with a strong use case and demand. BNB is a cheap cryptocurrency that offers investors exposure to the performance and innovation of Binance.
7. Chainlink (LINK)
Chainlink is a decentralized oracle network that connects smart contracts to real-world data, events, and payments. It allows smart contracts to access reliable and verifiable information from external sources, such as market prices, weather data, sports scores, etc. Chainlink’s native cryptocurrency, LINK, is used to pay for oracle services and incentivize node operators.
LINK has a market capitalization of over $20 billion as of June 2023, and a price of around $50 per coin. Chainlink is one of the most widely used and integrated oracle networks in the crypto space, with over 500 partners and projects. LINK is a cheap cryptocurrency that offers investors access to the growth of the smart contract and oracle industry.
8. Terra Classic (TCL)
Terra Classic is a blockchain platform that aims to create a stable and scalable global payment system. It uses a dual-token model that consists of Terra Classic tokens (TCL) and Terra Classic stablecoins (TCS). TCL is used to secure the network and govern the protocol, while TCS are pegged to various fiat currencies and backed by TCL reserves.
TCL has a market capitalization of over $5 billion as of June 2023, and a price of around $0.05 per coin. Terra Classic is one of the most promising and innovative projects in the crypto space, with a vision to create a more inclusive and efficient financial system. TCL is a cheap cryptocurrency that offers investors exposure to the potential of stablecoins and payments.
