In this highly-developed world, cryptocurrencies are the most promising investment option available. The value of cryptocurrencies has grown exponentially since their creation, with millions of investors striving to keep track of blockchain-based cryptocurrencies that might explode in value in the future.
Some cryptocurrency investors may find that it is worthwhile to invest in cheap cryptocurrencies, as the lower prices of these coins can allow them to make large profits over time.
Although cheap cryptocurrencies are sometimes more volatile than their higher-priced counterparts, they have greater potential over the long term.
Least Expensive Cryptocurrencies to Buy
For those seeking to invest in cryptocurrencies with high growth potential, here are some of the cheapest cryptocurrencies available for purchase.
Ripple (XRP)
Ripple tops our list of cheapest crypto under $1 to invest in 2022 because it is the only cryptocurrency that has been adopted by banks and other financial institutions.
XRP, created by Ripple, is a payment protocol that uses the XRP cryptocurrency and an open-source distributed ledger called the XRP Ledger. The protocol aims to make payments faster, more reliable and less expensive than is possible over standard global payment infrastructure.
Dogecoin (DOGE)
Dogecoin (DOGE) is another cheap cryptocurrency to invest in. It is the pioneer “meme” coin and has been around since 2013, but it has yet to establish itself as a viable investment opportunity outside of its niche market.
DOGE is a cryptographic currency that uses proof-of-work mining to validate transactions on its blockchain platform. Dogecoin’s faster processing times and lower transaction costs make it more attractive to merchants than Bitcoin.
Stellar (XLM)
As cryptocurrency adoption grows, the need for lower costs will increase. Stellar (XLM) is a solid bet to meet that need due to its technological foundation and impressive reputation. Stellar is a payment network that uses the cryptocurrency stellar lumens (XLM) as its internal currency.
XLM has responded well to fluctuations on the crypto market and will most likely continue to be a worthwhile investment opportunity. Stellar’s roadmap and team of developers are convincing indicators that the project will succeed in the future.
Cardano (ADA)
Cardano is a decentralized public blockchain and cryptocurrency project that is based on academic research and engineering work. The platform offers secure, scalable and interoperable blockchain solutions for financial services.
Cardano’s cryptocurrency token is called ADA and was named in honor of Ada Lovelace, the 19th-century mathematician widely considered to be the first computer programmer. Cardano is expected to enter the institutional adoption circle shortly.
Chainlink (LINK)
Chainlink (LINK) is a cryptocurrency project focused on bridging off-chain data with on-chain applications. Since its release, the project’s success has been driven by the service it provides to massively increase the potential use cases for blockchain-powered apps.
Chainlink’s utility and partnerships make the project a strong candidate for continued dominance in the off-chain data implementation market. The LINK token has remained fairly strong throughout 2022’s market-wide downtrend, which speaks to the strength of Chainlink.
Algorand (ALGO)
Algorand is a new class of blockchain platform that supports fast, secure and decentralized applications. The platform’s unique design ensures that computation takes place in a scalable way that is both efficient and reliable.
Although ALGO is not an ideal beginner cryptocurrency, it offers a low-priced alternative to other blockchain projects. Like Ethereum and Solana, Algorand is a blockchain network that can handle various tasks, such as minting NFTs and hosting dApps.ust.
Shiba Inu (SHIB)
Shiba Inu is one of the least expensive cryptocurrencies on the market, and it is the second most popular currency after Dogecoin. Shiba Inu emerged as one of the most successful currencies since late 2021, when its price shot up by over 1,200% in a matter of weeks.
Shiba Inu developers have begun burning their SHIB tokens in order to mirror the growth of the market during the next rally. This will likely ignite a price pump, benefiting current investors.
Decentraland (MANA)
Another on the list of the best low-priced cryptos to buy is Decentraland (MANA). During last year’s Metaverse boom, many cryptocurrency projects were able to attract thousands of investors and establish themselves as viable alternative worlds. Among these projects was Decentraland, which has since cemented itself as a go-to Metaverse world.
Decentraland is a virtual world that enables users to create and monetize content and applications. The MANA cryptocurrency is used to purchase items on the application’s marketplace.
Final Thought
Many investors are diversifying their portfolios with cryptocurrency. Some do so because of the strategic advantages of crypto, but others have recently bought into the hype surrounding certain cryptocurrencies that have gained in value.
Investing in cheap cryptocurrencies can be an effective strategy for generating high returns, as the low price of these coins provides a pathway to huge capital gains.
Throughout this guide, we’ve discussed various low-priced cryptocurrencies that offer the best investment potential for the lowest price paid.