What Are the Cheapest Cryptos, and Are They Worth Buying?Oct 26, 2023, 2:58PM
Many speculate that the crypto bubble has burst, but it’s important to remember that the point of a decentralized currency is unpredictability.
It’s also important to remember that the whole boom was based on coins, like Bitcoin, that were initially very cheap and then became very expensive in a very short space of time. Since then, Bitcoin has been holding at a pretty high price which makes it practically unviable for most people to acquire a whole Bitcoin these days.
So this raises the question, are these cheaper coins worth buying? Instead of trying to guess which one, in particular, will be the next big riser, it’s better to form an impression of many of the cheaper cryptos around in order to figure out which of them will be a good bet to invest in. However, there are also a few out there that are so cheap, that they’re practically worthless, so trying to figure out which will become risers and which are just flops is a difficult challenge.
Stellar is one of the earliest cryptos to be launched after Bitcoin and was designed to operate off the original Ripple network. However, the man who launched the coin, Jed McCaleb, decided to design a new protocol for the coin that was created to be open source - in other words, allowing other programmers to access it and use it to create their own coins.
It’s largely credited with helping push the whole open-source model that launched the plethora of coins we currently have available today. Stellar was originally designed to have a low price in order to make it ideal for transactional use instead of investments. This means it’s very cheap and, ironically, tends to make a pretty good investment, as it’s quite stable too - but can offer you steady gains without much risk.
Some of the benefits that are often touted by users of this coin is that the transaction times are incredibly fast, and often you can complete a transaction within 2-4 seconds without any hassles. Another benefit of the coin is that the transaction costs are incredibly low at around 0.00001 Lumen (Stellar Coin) per transaction.
Right now, Stellar is still one of the best coins with decreased prices, trading at around $0.09200 per coin, with a market cap of over $2 billion. Whenever investing in a cheap coin, it’s important to consider its market cap, as this is a good reference point to how successful the coin is and how trustworthy it is too. If a coin is cheap but doesn’t have a significant market cap, it’s likely not a good investment unless you’re buying during pre-sales or very early in the coin’s inception, as then you still stand some chance to profit. But as a rule of thumb, if a coin has been around for a while and still doesn’t have a good market cap - it’s best to avoid it.
Ripple is a strong contender for one of the top cheap cryptos out there at the moment. It’s also highly favored by traders and crypto-collectors, as it’s widely accepted, very cheap, and relatively stable. Right now, a Ripple coin sells for about $0.50, which definitely makes it one of the cheapest popular cryptos around.
It also has a huge market cap of around $25 billion, showing that it definitely casts quite a long shadow over other cheap cryptos. While one can’t be sure if Ripple will be having any price spikes anytime soon, even small gains with this lean coin will reflect as large percentages in terms of profit. You can always double your odds by both investing in Ripple and placing trades on it through trading platforms that will help to maximize the amount of profit you can make if the coin does see any sharp inclines anytime soon.
Wall Street Memes
Now, Wall Street Memes doesn’t have the largest market cap as it’s pretty new, but it’s causing waves in social media that make it more enticing to watch. It managed to raise more than $25 million in its first 13 weeks and was selling pre-sale tokens at $0.0337 each. The meme coin craze has even gotten the attention of Elon Musk, and they’re likely to be highly popular as they fuse the internet’s love of memes with cryptocurrency - a veritable double-whammy.
Joining a coin early in its inception usually leads to higher profits. Though the pre-sale is no longer available, it's still beneficial to enter the market as soon as possible. So be sure to check out their website and try and invest as soon as possible, as again, even a small rise in profits this early in the game is sure to reflect large returns.
Wall Street Memes have capped their coin at 2 billion, which means there’s a good chance that they could start gaining a lot of value in the coming years. The site is well known for its collections of NFTs, which tend to sell out in minutes. The trading volume on this coin is already averaging at anywhere from $17 million to over $70 million on certain trading platforms, which means there’s likely to be a lot of investment activity, which might ultimately be the right conditions for the perfect storm, as it were.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.