Cryptocurrencies have gained immense popularity in recent times, especially among speculative investors. What was once considered an unconventional investment has now taken the center stage in financial discussions. Prominent financial networks such as CNBC devote daily segments to bitcoin and display its current price on their screens.
This widespread coverage has led even the average investor to become well-acquainted with bitcoin and the broader cryptocurrency movement. However, it’s important to note that bitcoin is not the sole player in the cryptocurrency market.
Numerous alternative options exist if you wish to explore cryptocurrencies beyond the well-known ones. Nevertheless, it is crucial to acknowledge that each cryptocurrency possesses its own distinct characteristics. Therefore, seeking guidance from a financial advisor is highly recommended before considering any investments in these speculative assets.
What Are the Best Affordable Cryptocurrencies to Invest in?
If you’re ready to venture into the world of cryptocurrency investment, here are ten affordable options worth considering that have the potential to yield favorable returns in 2023.
RoboFi (VICS)
RoboFi is a blockchain-based decentralized finance (DeFi) platform that offers a range of staking services for various cryptocurrencies, including VICS and Ethereum (ETH). Through RoboFi’s staking services, users can earn rewards on their staked assets.
The rewards earned from RoboFi staking depend on the duration of the staking period and the specific cryptocurrency being staked. Generally, longer staking periods result in higher rewards, while shorter periods offer greater flexibility and liquidity. This allows users to tailor their staking strategy to align with their investment goals and risk tolerance.
In addition to staking rewards, RoboFi provides users with other DeFi services, such as decentralized exchanges and liquidity pools. These services grant users wider access to cryptocurrency markets and multiple avenues for earning rewards. Overall, RoboFi is a comprehensive platform that caters to the diverse needs of cryptocurrency holders, offering ample opportunities to generate passive income from their investments.
XRP (XRP)
XRP is an open-source cryptocurrency that utilizes the XRP Ledger, an open-source distributed ledger. It was developed by Ripple, an enterprise blockchain company focused on facilitating global transactions. Ripple claims that XRP was designed for efficient payments, enabling faster, more reliable, and cost-effective transactions compared to traditional global payment systems.
Currently, Ripple is facing a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) alleging unregistered securities trading. The case is ongoing as of April 5.
Despite the uncertainties surrounding the lawsuit, Ripple’s On-Demand Liquidity payment product witnessed a ninefold growth between the second quarter of 2021 and the same quarter in 2022, according to the company’s July 28 XRP Markets report.
Furthermore, Ripple repurchased $200 million in Series C shares from one of its investors, a move believed to strengthen its balance sheet in preparation for a potential initial public offering (IPO), as reported by FXStreet. Ripple’s CEO, Brad Garlinghouse, expressed the company’s intent to explore an IPO during an interview with CNBC.
Dogecoin (DOGE)
Although initially conceived as a humorous take on cryptocurrencies, Dogecoin has emerged as a substantial investment for those who have profited from it. With a price below $0.10 per coin as of April 5, it is undeniably considered “cheap,” particularly when compared to its 52-week high of $0.1735.
Unlike many other cryptocurrencies that serve specific purposes, Dogecoin’s origins lie in satirizing bitcoin. Its value has experienced fluctuations based on hype and tweets from Elon Musk. The coin surged in the weeks leading up to Musk’s Twitter purchase in 2022 but has since experienced a significant decline.
Nevertheless, this may not deter those who have generated substantial profits and continue to seek out affordable cryptocurrencies. Despite being affected by the recent crypto sell-off, some investors view the dip as an opportunity to buy rather than a sign of impending doom.
Chainlink (LINK)
Chainlink is an Ethereum token that powers the Chainlink decentralized oracle network. This network securely connects to external data sources, APIs, and payment systems.
Chainlink aims to expand the capabilities of smart contracts by enabling real-world data and off-chain computation while maintaining the security and reliability guarantees associated with blockchain technology. The price of Chainlink has experienced fluctuations over time and currently stands at $7.29, representing a decline of over 55% compared to the previous year. This dip presents an opportunity for investors to acquire Chainlink at a more affordable price.
Cardano (ADA)
With its price below $1, Cardano is considered a highly affordable cryptocurrency, especially in the current market downturn that caused its value to retreat from an all-time high of $3.10 in September 2021.
Cardano is a blockchain platform built on the Ouroboros proof-of-stake consensus protocol. This protocol enables transaction validation without the excessive energy consumption associated with other cryptocurrencies. The developers of Cardano emphasize that Ouroboros ensures decentralization and scalability while maintaining robust security measures. Notably, Cardano utilizes the Haskell programming language, and its token, ADA, pays tribute to the renowned mathematician Ada Lovelace.
Cardano has an impressive track record, having processed over 20 million transactions without any downtime by late 2021. Additionally, it recently launched ADACash, a rewards token that gained a substantial user base of 10,000 in less than a month. The platform has gained popularity for non-fungible token (NFT) marketplaces and decentralized finance (DeFi) transactions.
An upcoming upgrade called Hydra, implemented through a series of protocols, is expected to significantly enhance processing speeds. This development could potentially drive ADA’s value to higher levels.
Polygon (MATIC)
Polygon is a decentralized application built on the Ethereum network, aiming to expand Ethereum’s capabilities as a multichain system. Supported by major exchanges like Coinbase and Binance, Polygon provides developers with a solution for faster, more efficient, and cost-effective deployment of decentralized applications. Experts regard MATIC, the token of Polygon, as one of the most promising “layer two” tokens built on an existing blockchain. Backed by a strong team and robust technology, Polygon holds promise for long-term growth.
Stellar (XLM)
Stellar operates as its own payment network, utilizing stellar lumens (XLM) as its native currency. While the Stellar network is open for use by anyone, its primary purpose is to facilitate seamless transactions among financial institutions, particularly for large-scale transfers. Stellar enables nearly instant and cost-effective transactions, distinguishing it from traditional and competing blockchain networks.
The price of stellar lumens has exhibited high volatility in the past year, often following the direction of bitcoin. Monitoring bitcoin’s movement can provide insights into potential price trends for XLM.
The Sandbox (SAND)
The Sandbox is a blockchain-based metaverse, a virtual game that implements a “play-to-earn” model. In this game, users can create, purchase, sell, and collect digital assets in the form of non-fungible tokens (NFTs). Additionally, players have the opportunity to develop and monetize their own games, earning SAND tokens when others engage with their creations.
Originally created by Pixowl in 2011 to introduce blockchain to mainstream gaming, The Sandbox has garnered support from notable investors such as Atari, Helix, and CryptoKitties.
With the growing excitement around metaverses, blockchain games like The Sandbox are poised for further development and adoption.
Decentraland (MANA)
Decentraland is an Ethereum-based virtual reality game, with MANA serving as its native token. In Decentraland, users can purchase virtual land to create and monetize content, buy goods and services, and explore other properties within the 3D virtual world.
Recognized as an innovator in the metaverse space, Decentraland has partnered with Versus Entertainment to contribute to the film adaptation of “The Infinite Machine.” This movie chronicles the story of Ethereum co-founder Vitalik Buterin, showcasing the potential crossover between virtual reality and entertainment industries.
Uniswap (UNI)
Uniswap, a prominent participant in the decentralized exchange landscape, facilitates the automated trading of decentralized finance tokens among coin holders. This platform empowers anyone holding coins to establish a liquidity pool for their preferred token pairs.
Despite its inherent volatility, Uniswap enjoys the advantage of being an early adopter in the decentralized exchange sector, as highlighted by U.S. News. Recently, the platform achieved a remarkable milestone by surpassing $1 trillion in total trading volume, albeit originating from just 3.9 million addresses. This achievement implies that Uniswap has ample room for further expansion and development.
About RoboFi
Robofi is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
About VICS
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.
