There are thousands of cryptocurrencies out there right now, but not all of them are worth your time and money. Although nothing is certain in the world of cryptocurrencies, there are still some coins that are considered better than others in every possible aspect. Your goal as a crypto trader is simple — find cheap crypto coins and sell them when their price goes up.
But what are the best cheap crypto coins at the moment? And where to find cheap coins to buy crypto? These are the two burning questions that every newcomer asks, and this article will answer them. Read on!
Why Invest in Cheap Coins?
Why should you invest in cheap but promising cryptocurrencies? The answer is quite straightforward — to gain profit. Many investors who poured some cash into Bitcoin when it was cheap are now millionaires as the price of “digital gold” increased significantly.
Although young and cheap cryptocurrencies might not be able to achieve similar success (but, never say never), many of them will likely become adopted worldwide. How is that possible?
The majority of these cheap crypto coins are actually part of a project or a company. For example, XRP is developed by Ripple Inc, and every move that the organization makes affects the price of the coin. Investors are there to predict whether the company would do well and popularize its cryptocurrency.
How to Invest in Cheap Crypto Coins — Top 4 Ways
Now that you have a good reason to think about investing in cheap crypto coins with potential, we need to tackle several best ways to do it.
If you don’t want to engage in crypto trading activities, “hodling” is probably the right strategy for you. All you have to do is select a cheap crypto coin, buy some of it, and hold it until its price hits the roof. Once that happens, you should sell the crypto and make a handsome profit.
Day traders are active, as they trade cryptocurrencies on a daily basis (hence the name). They monitor changes in prices and seize the opportunity to make small profits every day. Day traders spend anywhere from 30 minutes to several hours researching the market and finding opportunities to invest in.
If you focus on cheap crypto coins, you’ll make small gains. But then again, you don’t even have to invest a lot of money. In other words, there’s room to make mistakes as there will be no significant losses either.
This type of crypto trading is more frequent than holding but less frequent than day trading. Instead of trading daily, swing traders make more detailed calculations to predict price swings and act. Therefore, they make trades when there’s a change in price that’s more significant than the small ups and downs that occur daily.
Does it work with cheap crypto coins? It does, but it’s far more complex than other types of trading. So if you’re new to this activity, you might want to research swing trading once you gain some experience.
This type of approach can be described as “calculated holding”. Unlike holders who just buy and hope for the best, position traders are usually more involved in the research. However, once they buy a crypto coin, they usually wait for a long period and sell when the time is right. But, they still hold cryptos for a shorter period compared to the buy-and-hold strategy.
This is also a valid option for those who want to trade cheap cryptocurrencies. However, it still requires you to be experienced to pull it off.
It is believed that the best strategy for cheap crypto coins is to buy and hold. However, make sure to dedicate part of your budget to other trading options so that you can learn them and improve your trading skills.
Where to Buy Cheap Crypto Coins?
Basically, every online crypto exchange supports cryptocurrency trading, so your job is to pick one and open an account.
If you’re on a budget, aim for cheap crypto coins with potential rather than small amounts of expensive cryptos such as Bitcoin and Ethereum. However, not many exchanges out there offer cheap crypto coins for trade, as their primary focus is “major” cryptocurrencies.
Therefore, finding the right exchange might not be as easy as you think. The number of exchanges that offer all the crypto coins we’ll mention in this article is not so big. A great example of one such platform is Godex.io, as it offers crypto trading services and is suitable for those who want to focus on the best cheap crypto coins. The platform supports 200+ cryptocurrencies, including the popular ones, such as BTC, ETH, LTC, and more.
Which Crypto Coins Are Cheap to Invest in?
After conducting in-depth research we concluded that the cryptocurrencies with the best potential are Ardor, Nem, Ravencoin, Stellar Lumens, and Cardano.
We’ll discuss each of them below. First of all, we’ll make a quick overview and discuss price trends related to the crypto in hand. After that, we will talk about the reasons why they made it to our list and focus on their primary advantages and disadvantages.
Let’s take a look.
Ardor aims to facilitate blockchain inclusion in existing companies. Simply put, it’s a blockchain-as-a-service company that will help existing businesses set up a chain of their own, without having to invest a lot of money and energy. There are thousands — if not millions — of businesses worldwide that would like to experience the benefits of blockchain technology and Ardor is there to help them. On top of that, it’s also a unique crypto exchange.
Ardor Price Analysis
Ardor is currently ranked #107 in the market, with a total market cap above $52 million. The current price is $0.0521, but the all-time high was reached on January 13, 2018, when the price of a single unit was $2.55. On the other hand, the all-time low for Ardor was on October 30, 2016, when the price was only $0.0083. However, after the January 2018 spike, the price did not go as low. It’s also important to mention that the circulating supply of Ardor is equal to its max supply, which is 998,999,485 ARDR.
Why Invest in Ardor
Many professional investors believe that ARDR has a huge potential, as it offers a scalable solution that could help businesses worldwide. As such, it’s one of the most attractive cheap crypto coins at the moment.
Pros and Cons
- Underlying architecture makes Ardor a great basis for further innovation;
- A strong team behind the company;
- Great ROI so far (41.64% at the moment of writing this).
- Still not competitive enough when compared to BTC and other leading cryptos;
- New, so anything can happen in the future
It’s difficult to describe Nem without getting too technical. Essentially, Nem is a platform that companies can use to build decentralized applications, or dApps. It’s basically a technology. What makes Nem stand out from the crowd is its Smart Asset System, and the unique messaging system that can be used as part of the transaction process.
Nem Price Analysis
The current price of a single unit of XEM is $0.0457, but compared to Ardor, Nem is placed way better on the market. Its market cap at the moment is $411.46 million, and it is overall ranked as the 29th best cryptocurrency at the moment. The coin reached its all-time high on January 4, 2018, with the price of $2.09. The all-time low happened before the infamous market explosion — on September 15, 2015 ($0,00009). However, during the last 12 months (between June 2019 and June 2020) the price ranged from $0.0266 to $0.1084.
Why Invest in Nem
The New Economy Movement has high hopes for its project. The two essential innovations that it uses are POI (Proof of Importance) and harvesting. These revolutionary technologies are the primary reasons why some investors consider Nem to be one of the best cheap crypto coins.
Pros and Cons
- Nem already has proven use cases;
- Nem offers a secure mining model, as POI guards the network against cybercriminals trying to perform the infamous 51% attack;
- Nem can be used outside the FinTech sphere.
- Updates should be more regular;
- Nem needs to be more transparent about certain operations.
One of the most common questions asked in the past decade was — did you watch Game of Thrones? The creators of Ravencoin certainly did. Essentially, most of them are GoT fans and Bitcoin developers who wanted to make a secure peer-to-peer electronic system for creating and transferring assets. The entire idea is inspired by the fact that ravens were news bringers in the World of Ice and Fire.
Ravencoin Price Analysis
Created in 2018, Ravencoin did not live in the era of the bubble burst. Therefore, looking at its price change, there aren’t any huge swings. Its all-time low was $0.0087 on March 13, 2020, and the crypto coin peaked on June 3, 2019, when the price was $0.08. Although its ROI is currently -15.75%, investors believe that Ravencoin’s time is yet to come.
Why Invest in Ravencoin
What made RVN popular is that it was backed by some big-name people, including Bruce Fenton, who is the Bitcoin Foundation board member. Moreover, Overstock invested millions of dollars in Ravencoin, so that’s definitely a good sign.
Pros and Cons
- Ravencoin is an open-source project that pays a lot of attention to privacy;
- There’s a dedicated and experienced team behind Ravencoin;
- Some really important people backed this project and cryptocurrency.
- Ravencoin is still new and needs further improvements to speed up transactions.
Compared to all the previous crypto coins in this article, XLM is far more successful. Its main goal is to provide people with access to affordable banking services around the globe. Moreover, it aims to make cross-asset value transfers easier. It’s a pretty ambitious project started back in 2014 by former Ethereum employees Joyce Kim and his colleague Jed McCaleb.
Stellar Lumens Price Analysis
The current price of a single XLM is $0.0712. It moved in the range between $0.0284 and $0.0012 for the past 12 months and peaked at $0.9381 on January 4, 2017. Before that, the price was usually below $0.002.
The reason why XLM is still very affordable despite huge success is that the total supply is set at more than 50 billion XLM, while the current circulating supply is 20.32 billion XLM.
Why Invest in Stellar Lumens
Stellar Lumens’ current ROI is 2,333.38% and it has recorded the highest increase in popularity among the coins listed in this article. The current market cap is $1.4 billion, and the crypto is ranked #13 on CoinMarketCap. These are just a few things to take into account.
Pros and Cons
- If banks start using Stellar for international transfers, its value could skyrocket;
- Its technology is already used by the big players, such as IBM;
- More decentralized than its competitors such as Ripple.
- In direct competition with Ripple, which could become its main drawback in the future.
Based on the Haskell coding language, Cardano was built with high goals in mind. It’s a product of a philosophical debate, and therefore, it has attracted many investors. Cardano is a multi-layer protocol that is resilient, scalable, and open-source. It also has a unique PoS mechanism named Ouroboros. The team behind Cardano adopted an academic approach to development, yet, in a way, rejecting traditional academia as such.
The company was founded by Charles Hoskinson and Jeremy Wood.
Cardano Price Analysis
ADA is a relatively stable cryptocurrency. However, its price ranged from $0.0191 to $0.1069 in the past 12 months. The highest it got was on January 4, 2018, when the price was $1.33. Its all-time low was on October 1, 2017, when the price was $0.0173.
Why Invest in Cardano
Cardano is even more popular than Stellar Lumens, as it currently occupies the 10th place when it comes to its total market cap, which is $2 billion. Its ROI is 277.99%. The numbers speak for themselves, so Cardano is definitely among cheap crypto coins with potential.
Pros and Cons
- Developed and maintained by highly-educated individuals and independent thinkers;
- Code was written from scratch;
- More stable compared to other cheap crypto coins.
- Cardano has issues with the speed that need to be addressed in the future.
It’s up to you to ultimately decide which crypto coins are cheap to invest, as this article mainly consists of suggestions that we think have potential. However, please take into account that things change rapidly in the blockchain and crypto sphere, so make sure to find the latest info before you make any final decisions.