When considering an affordable cryptocurrency, there are several perspectives to consider. It’s important to note that the term “cheap” is subjective and varies depending on individual circumstances.
Whether you possess a mere five dollars or a substantial sum of five million dollars, nearly any cryptocurrency can be within your reach. The primary obstacle to entry typically lies with the crypto exchange you choose to utilize. Among our preferred exchanges, Coinbase, for instance, imposes a minimum investment of $2. Consequently, you have the freedom to purchase or sell as little as $2 worth of any cryptocurrency available on that particular exchange.
Essentially, this implies that you need not acquire an entire coin in one go. Take Bitcoin, for instance. Each Bitcoin comprises 100 million units known as “satoshis.” A “satoshi” represents the smallest divisible fraction of a Bitcoin. Therefore, as long as Bitcoin’s trading value remains below $200 million per coin, it is feasible to obtain a fraction of it for less than $2.
It’s safe to say that most individuals would consider a $2 investment to be relatively inexpensive.
However, an alternative approach to identifying a cheap cryptocurrency is to seek out undervalued options. In other words, cryptocurrencies that are trading below their perceived value. Identifying an undervalued crypto coin can be a more challenging endeavor. Nonetheless, over the past couple of years, Bitcoin has consistently outperformed most asset classes, despite the overall stagnation in the crypto market during 2022.
Will Bitcoin indeed reach $100,000 per coin this year, as predicted by some experts? The certainty of such a prediction remains unknown. However, it remains a possibility within the realm of feasibility. If this were to occur, Bitcoin would undoubtedly qualify as a cheap cryptocurrency at present.
For the purpose of this discussion, let’s focus on five alternative coins (altcoins) that have significant growth potential.
Five Affordable Cryptocurrency Coins Ready for Your Wallet
We kick off our list with the second-largest cryptocurrency by market capitalization, Ethereum. It is also one of the more well-known cryptocurrencies. While there are cheaper alternatives available, Ethereum’s potential for growth should not be overlooked. Its blockchain technology plays a significant role in initial coin offerings and is a driving force behind decentralized applications. Unlike Bitcoin, Ethereum has expanded beyond the financial sector. If you’ve come across non-fungible tokens (NFTs), they were likely part of the Ethereum blockchain.
However, it’s important to note that Ethereum is not considered cheap. In fact, it is one of the more expensive coins in the market. Nevertheless, its value has been surpassing that of Bitcoin. Additionally, the upcoming release of ETH 2.0 later this year marks a significant milestone as Ethereum transitions from the energy-intensive Proof-of-Work consensus to a greener Proof-of-Stake mechanism.
Considering these factors, we believe Ethereum is currently trading at a discount. Therefore, despite its current price, Ethereum deserves a spot on our list of affordable cryptocurrency coins.
Chainlink is another cryptocurrency that extends its utility beyond the financial sector. The technology developed by Chainlink enables it to serve as a bridge between decentralized networks (blockchains) and external off-chain resources. This is significant because it allows decentralized applications, such as those operating on Ethereum, to access off-chain data.
Building trust with developers is crucial for any platform connecting blockchain with off-chain data, and Chainlink has successfully earned that trust thus far. As blockchain technology continues to gain widespread adoption, Chainlink is unlikely to remain a cheap cryptocurrency for long. Currently trading at less than $13 per token, we anticipate it will return to its previous high-water mark of around $50 per token within the next few years.
When the EOS coin was initially introduced, it posed a significant threat to Ethereum. As the native cryptocurrency on the EOS.IO blockchain, EOS offers remarkable scalability. With over 100 decentralized apps currently on its network and thousands of daily users, EOS has found a strong niche alongside Ethereum.
One of the most compelling features of EOS is its ability to process 1 million fee-less transactions per second. Moreover, EOS has secured notable partnerships, including one with Google. These factors contribute to the continuous rise of EOS, along with other affordable cryptocurrency tokens.
In 2018, while Bitcoin dominated discussions, Fusion made its own notable impact. However, during the crypto bull run of the previous year, Fusion’s value remained relatively stable without significant growth. This is despite Fusion diligently achieving its objectives.
Fusion has successfully implemented its ticketed proof-of-stake algorithm, introduced smart-contract features, and developed an NFT-management system. Looking ahead, Fusion plans to create a cross-chain ecosystem to facilitate transactions between blockchains. If Fusion succeeds in this endeavor, it could become a household name, and its presence on any list of cheap cryptocurrencies would quickly diminish.
RoboFi is a decentralized finance (DeFi) platform built on blockchain that offers various staking services for cryptocurrencies, including VICS and Ethereum (ETH). Through RoboFi’s staking services, users can earn rewards based on the duration of the staking period and the cryptocurrency being staked.
The rewards from RoboFi staking depend on the staking duration and the selected cryptocurrency. Longer staking periods generally yield higher rewards, while shorter periods provide greater flexibility and liquidity. This allows users to choose a staking strategy that aligns with their investment goals and risk tolerance.
Apart from staking rewards, RoboFi provides other DeFi services, such as decentralized exchanges and liquidity pools. These services grant users enhanced access to cryptocurrency markets and multiple avenues to earn rewards. Overall, RoboFi is a comprehensive platform catering to the diverse needs of cryptocurrency holders, offering numerous opportunities for passive income from their investments.
The adage “You get what you pay for” doesn’t necessarily apply to cryptocurrency, as it exists in the digital realm. However, as interest in cryptocurrencies grows and they become more mainstream, the value of these digital assets could increase significantly.
The Federal Reserve is exploring the possibility of a digital dollar, major banks are now providing crypto access to their clients, and cryptocurrency exchange-traded funds (ETFs) are available. The journey of cryptocurrencies into the mainstream has only just begun, and these affordable cryptocurrencies have the potential to generate substantial profits once they reach that stage.
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.
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.
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.