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10 cheap cryptocurrencies to buy

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VSCryptocurrencies are all the rage these days, especially with speculative investors. What was once a “marginal” investment is now front and center in the financial press. Even financial networks like CNBC talk about bitcoin daily and keep a ticker on the screen showing the current price.

Put it all together and now even the average investor is well aware of bitcoin and the cryptocurrency movement. However, bitcoin is not the only cryptocurrency available.

There are plenty of other options if you want to get your crypto solution away from the big names. Just be aware that every cryptocurrency is unique and you should consult your financial advisor before investing in any of these speculative products.

What are the best cheap cryptos to buy?

If you’re ready to invest in crypto, check out the following 10 cheap options that could yield good returns in 2022.

1.XRP (XRP)

  • Coin prices as of July 1: $0.3125

XRP is an open source cryptocurrency that uses an open source distributed ledger called XRP Ledger. It was developed by Ripple, an enterprise blockchain company that facilitates global transactions. Ripple claims that XRP was designed for payments and can settle transactions faster, more reliably, and more cheaply than is possible with standard global payment infrastructure.

Ripple is currently embroiled in a lawsuit filed by the United States Securities and Exchange Commission, which accuses it of engaging in unregistered securities trading. However, a new lawsuit filed by a government watchdog group — alleging SEC officials are biased against Ripple and XRP — could help resolve the lawsuit against Ripple in favor of investors.

Ripple has repurchased $200 million of Series C shares from one of its investors in what analysts see as a move to bolster its balance sheet before going public, FXStreet reported. Hopes that Ripple would announce its IPO after the resolution of the SEC lawsuit gained traction last month when CEO Brad Garlinghouse told CNBC that he would in fact explore the possibility of an IPO.

The price of XRP has come down significantly from a year ago, and you can buy it for well under $1.

2. Dogecoin (DOGE)

  • Coin prices as of July 1: $0.06628

Dogecoin started off as kind of a joke, but it has become very real for those who have taken advantage of it. The coin is definitely “cheap” at less than $0.07 per coin as of July 1, especially compared to its 52-week high of $0.351.

Unlike many other cryptocurrencies that perform real functions, dogecoin was created as a satirical version of bitcoin. Last year, the cryptocurrency rose sharply due to hype on message boards and tweets from Elon Musk. It’s the same type of speculation that drove GameStop up over 400% in a single week in 2021.

Of course, this probably doesn’t matter to those who have made real profits and are still on the hunt for “cheap” cryptocurrencies. And this could bear fruit in the coming year. In December 2021, Musk announced in a tweet that “Tesla will make some products purchasable with Doge and see how that goes.”

That said, dogecoin has been hit hard by crypto sales over the past seven months. Whether it can continue to emerge from the crisis remains to be seen, but many investors see the decline as a buying opportunity rather than a sign of doom.

3. Chain link (LINK)

  • Coin prices as of July 1: $6.10

Chainlink is another Ethereum token that powers the Chainlink decentralized oracle network. This network is used to securely connect to external data sources, APIs and payment systems.

Chainlink describes itself as enabling real-world data and off-chain computation to extend the capabilities of smart contracts while retaining the benefits of blockchain technology, namely its guarantees of security and reliability. Chainlink price is moving in spurts and currently sits just over $6.00, down more than 65% year over year, giving investors a chance to buy at low price.

4. Uniswap (UNI)

  • Coin prices as of July 1: $4.85

As a major player among decentralized exchanges, Uniswap automates the exchange of decentralized finance tokens between coin holders, allowing anyone who holds coins to create a pool of liquidity for any pair of tokens they choose. .

Although highly volatile, Uniswap has the advantage of having been an early mover in the decentralized exchange space, US News reported. It recently surpassed $1 trillion in total transaction volume, albeit from just 3.9 million addresses, suggesting there is plenty of room for growth.

5. Gimbal (ADA)

  • Coin prices as of July 1: $0.4478

To less thanAt $1.00, Cardano remains a very cheap cryptocurrency – even more so now, amid the cryptocurrency crisis that sent Cardano down from an all-time high of $3.10 in September 2021.

According to Coinbase, Cardano is a blockchain platform built on a proof-of-stake consensus protocol called Ouroboros, which can validate transactions without high energy costs. Its developers claim that Ouroboros enables the decentralization of the Cardano network and provides the ability to sustainably adapt to global demands without compromising security.

Development on Cardano uses the Haskell programming language. The symbol of the Cardano token, ADA, comes from the 19th century mathematician Ada Lovelace.

So far, Cardano has an impressive track record. By the end of last year, it had processed more than 20 million transactions without downtime, according to InvestorPlace, and it recently launched ADACash, a rewards token that gained 10,000 users in less than a month. .

Upcoming projects include a market for non-fungible tokens and an exchange for DeFi transactions. At the beginning of June, more than 1,000 projects relied on the Cardano blockchain.

An upcoming upgrade called Hydra is expected to significantly increase processing flows, InvestorPlace reported, which could trigger higher prices.

6. Polygon (MATIC)

  • Coin prices as of July 1: $0.4615

Polygon is a decentralized application built on the Ethereum network as a way to extend Ethereum into a multi-chain system. Backed by Coinbase and Binance, Polygon could be the solution developers need to deploy decentralized applications faster, more efficiently and at lower cost, Benzinga noted, calling MATIC the most promising “layer two” token it has. i.e. built on top of an existing blockchain.

All cryptocurrency investments are highly speculative, but it could be a good sign that MATIC showed resilience in an early December 2021 selloff, rising 21% while other cryptos fell, reported. US News. It has since corrected itself amid growing competition, but analysts say Polygon is backed by a strong team and strong technology, making MATIC a good long-term bet.

7. Stellar (XLM)

  • Coin prices as of July 1: $0.1105

Stellar is its own payment network, and it uses Stellar Lumens as its currency on this network. Although the network can be used by anyone, there are plans to connect financial institutions performing large transactions. On the Stellar network, these types of transactions can be completed almost instantly at little to no cost, unlike traditional and even competing blockchain networks.

The price of Stellar Lumens has been very volatile over the past year, but industry analysts expect XLM prices to rise in 2022. You can get an idea of ​​where XLM could go by looking at bitcoin – the prices of the two cryptocurrencies often move in the same direction, according to InvestorPlace.

8. The sandbox (SAND)

  • Coin prices as of July 1: $1.08

The Sandbox is a blockchain-based metaverse – a virtual game that uses a “play-to-earn” model that allows users to create, buy, sell and collect digital assets in the form of NFTs. They can also create and monetize their own games and earn SAND every time someone plays them, Benzinga explained. Pixowl created the game in 2011 to introduce blockchain to mainstream gaming, according to CoinMarketCap. Investors include Atari, Helix and CryptoKitties.

With the current hype around metaverses, blockchain games like The Sandbox could be off to a great start.

9. Decentralized (MANA)

  • Coin prices as of July 1: $0.8404

Decentraland is the token behind an Ethereum blockchain-based virtual reality game of the same name. Securities.io described Decentraland as a 3D virtual world where users buy land on which to develop and monetize content, purchase goods and services, and visit other properties.

As a metaverse innovator, Decentraland has been signed by Versus Entertainment to help develop its film adaptation of “The Infinite Machine,” which tells the story of Ethereum co-founder Vitalik Buterin, Variety reported.

With a market cap of $1.55 billion, this cryptocurrency project isn’t exactly child’s play. Although down from its November 2021 high of $5.48, MANA is still selling slightly above its price of $0.8155 before this peak.

10. NEAR Protocol (NEAR)

  • Coin prices as of July 1: $3.36

The NEAR Protocol is a Layer 1 blockchain designed to be a community-managed cloud computing platform with faster transaction speeds, better throughput, and increased interoperability compared to competing blockchains, according to CoinMarketCap.

Although it lacks the maturity of some of the other blockchains on this list, the collective responsible for updating the initial code and releasing updates aims to create a highly secure platform that can handle high-value assets such as money and identity while providing functionality for “ordinary people”. .” NEAR recently rolled out its own stablecoin, $USN.

A proof-of-stake mechanism called Doomslug secures the platform without increasing costs, and Nightshade technology splits blockchain transaction history to speed up processing, Benzinga reported. The project has the potential to lower barriers to Web3 adoption – Web3 being the slogan for a blockchain-based internet.

Daria Uhlig contributed reporting for this article.

Data is accurate as of July 1, 2022 and is subject to change.

This article originally appeared on GOBankingRates.com: 10 Cheap Cryptocurrencies to Buy

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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