Top 7 cheap currencies to invest in 2024

The cryptocurrency market continues to develop at a rapid pace, and 2020 is going to be one of the most exciting years for those who want to increase their capital. The epidemic of coronavirus suppressed the activity on financial markets. However, it is a perfect time to consider the future rapid growth and find out cheap currencies to invest in 2021. 

Cryptocurrencies are still one of the fastest (albeit the riskiest) ways to earn money really fast. This market is incredibly volatile, and individual coins can grow manifold during one day or week. The only question is — what is the best crypto to invest in?

We expect to see several key trends in 2021 that should set the tone for further market development. The main and most famous of them is, of course, the bitcoin halving, which is due to happen in May. Historically, halving occurs every four years, and each time this event was accompanied by an increase in interest in bitcoin and, accordingly, the price of it. 

However, the primary cryptocurrency of our time and the changes that occur with it should not prevent an experienced crypto investor from seeing other promising options for investing. Yes, bitcoin is the most stable and reliable cryptocurrency – as far as it is possible for cryptocurrencies at all. Still, numerous altcoins can bring just as much to the discerning trader – many of them have prospects to grow several times this year, and, at the same time, the purchase will be cheap.

These options are the main topic of this article — top cheap cryptocurrencies to invest and best growth prospects in the market in 2020.

Ripple

Ripple (XRP) was originally developed for interactions within the banking sector. Ripple Labs Inc, the company that developed this cryptocurrency, preoccupied itself with establishing partnerships with a large number of financial enterprises, including Westpac and BBVA.

The first iteration of this cryptocurrency has initially been a protocol that allowed direct cash payments from one member of the Internet community to another. This protocol (it was called RipplePay back then) was used as the basis for the platform back in 2005 and facilitated the payment process for the enterprises.

The basis of XRP is the use of so-called “gateways”: combining individual blockchains into a kind of global registry. These “gateways” are subsequently used by all involved parties to gain access to the network. All this makes up the so-called RippleNet network, an organization of banks and payment systems that use Ripple’s technical principles in transactions.

Ripple is on our list because at the moment this cryptocurrency is simultaneously on the decline and, at the same time, is actively developing. At the time of writing, the cost of XRP was only $ 0.19, while not that long ago, the creators of this currency attracted such companies as UAE Exchange and Western Union as partners. In addition, many analysts believe that Ripple has a chance to oust SWIFT from the market and occupy its niche. All this makes XRP one of the most attractive options for investing in 2020.

Tron

The Tron cryptocurrency, also known as TRX, got everyone’s attention in 2018. An active advertising campaign and ICO contributed a lot to this popularity. Many famous people are among the organizers of this project, including Justin Sun, one of the proxies of Alibaba’s Jack Ma.

The Tron company (TRX cryptocurrency was originally created on its basis) was engaged in providing global access to entertainment content: streaming, gambling, and other activities. Cryptocurrency itself is actively involved in these processes, and as a result, it creates a whole ecosystem. A huge role in Tron’ growth rate this year belongs to the factors that directly affect its cost, including the functionality for storing and distributing content.

Most analysts agree that Tron expects steady growth in 2020. The forecasts for the final growth point vary from $1.5 to $ 47. The growth also depends on whether the project developers succeed in concluding several important agreements. In addition, the management plans to sign cooperation agreement with Liverpool FC, which will influence public opinion on the project.

Cardano

Cardano (ADA) is one of the best crypto to invest at the moment, and 2020 promises a lot of interesting things to it. The development of the project becomes more and more intense, and investors turn their attention to future opportunities offered by Cardano.

Cardano was originally created as a functional and highly secure platform for verifiable smart contracts. The author of the idea, Charles Hoskinson, once was a member of the team that developed Ethereum and left it in 2014 for his own project.

Created by developers in the first wave, ADA cryptocurrency in the Cardano project plays the role of its own digital settlement tool. Later, a new level was superimposed on this basis, allowing working with the conclusion of smart contracts within the framework of the platform.

The project team is currently focused on improving the quality of services provided to users. It is to introduce a democratic management system, which should positively affect the pace of progress.

The creators of Cardano state that the scientific approach always comes first during the drawing up phase for development plans. Each decision under consideration, each technical innovation is necessarily discussed with leading specialists from universities in Scotland, Greece, and the USA. This allows developers to optimize the time and increase the overall performance.

If we bring up the prospects of ADA for this year, most analysts agree that it is likely to be positive for the cryptocurrency. A lot depends on whether the Cardano team succeeds in attracting large investors to the project. Another important indicator is the ability (or inability) of this cryptocurrency to regain its price near $1 per token.

Siacoin

This altcoin appeared relatively recently and immediately attracted the attention of investors. Sia is a service for storing information with full decentralization. This service is very popular around the world because of the option to transfer data from the hard drive to the Sia network.

Decentralization has a positive effect on the average transaction time. In addition, the system stands out with a high degree of reliability. Users can use their own free space for rental, which will bring them regular profits.

The system itself has been developing for a relatively long time, but the project came to prominence only in the middle of the past decade. It was back then that David Warwick created the Siacoin.

The creator of the cryptocurrency does not strive to share information about the early stages of development, so we don’t have much.

Sia works under the following principle: you get a contract to save downloaded data. Under the contract, you are entitled to a certain fee, and in case of violation of its terms, you will receive an automatically charged fine. After completing a certain storage period, you will need to prove that the file still exists, after which you can receive payment.

The creators of the system especially emphasize the possibility of unreliable money transfers. To achieve this, support for payment through channels and bilateral agreements was integrated into the system. Transactions are made instantly, the returns are not practiced, so the likelihood of fraud is further reduced.

Sia has a very low entry threshold, which makes the system a good choice for individuals. You simply provide a place for storing information, and after a certain period, you will receive a reward.

Verge

Another cryptocurrency aimed to increase the confidentiality of user information, Verge (XVG) was created on the basis of the Verge platform and initially set the maximum data protection as its goal.

Initially, XVG was called DogeCoinDark and was conceived as a kind of counterweight to Bitcoin. The creator of Verge, Justin Sanerok, believed that the Bitcoin was completely unsuitable for the role of a universal means of payment and wasn’t actually the top crypto to invest. Despite this, it was Bitcoin’s blockchain that became the progenitor of XVG, and there was no ICO at the launch.

The cooperation with Pornhub brought the popularity to the project – the developers have bet on the popularity of this resource, and they were not wrong. Pornhub provided access to premium accounts for visitors using XVG as a payment system.

The team working on Verge has made many changes and improvements to the Bitcoin blockchain system, the SHA 256 algorithm is especially worth noting. In addition, the developers have established interaction with TOR and i2P, taking another step towards maximum anonymity for users.

Another important feature of cryptocurrency is the extremely high speed of transactions. Thanks to the use of SPV technology, XVG is ahead of its competitors in this regard.

IOTA

IOTA (MIOTA) is the “black sheep” on our list today because it was not created on the basis of blockchain technology. Instead, its developers chose to create a completely new principle for the platform, calling it Tangle. This principle allows the platform to provide full microtransaction support.

When creating IOTA, the developers were inspired by the idea of ​​IoT, Internet-of-Things, and optimized it in this format. In addition, they made a scalability of the network infrastructure one of their main tasks and focused on those points that could not be solved with the help of the blockchain.

Upon closer inspection, it immediately becomes apparent that Tangle has much more efficient solutions to the classic blockchain problems. It eliminates the limits for scaling, decentralizes control over the system, makes it possible to carry out segmentation, allows the amount of data to grow much faster, eases the load on the hardware. In addition, the absence of transaction fees will be a nice bonus for IOTA users. Working with IOTA does not require the use of miners, since user transactions are confirmed by other users.

From all of the above, it is clear that IOTA’s forecasts for 2020 are quite positive. The very concept of the Internet of things, on which IOTA is based, is becoming more and more popular. This also leads to increased interest in this cryptocurrency among investors. Also, the fact that IOTA is used to conduct financial transactions by giants such as Microsoft and Samsung has a very positive impact on public opinion. IOTA is likely to be one of the safest options for those looking for the top crypto to invest.

Stellar Lumens

This cryptocurrency is the main and direct competitor of the Ripple. Its creators largely emphasize the decentralization of the system and the fact that their brainchild is not controlled by banking institutions in any way.

Like any cryptocurrency antagonist, XLM grew out of the principles of Ripple, changing a lot of them while trying to take into account the mistakes made there. As a result, now XLM is considered to be one of the largest decentralized exchanges on the blockchain. Unlike their competitors, the creators of Stellar Lumens did not focus on owning most of the issued tokens, so they cannot control the cryptocurrency rate.

Users speak of XLM as a very easy-to-use platform, since any transactions that are related to code creation are based on C ++. The platform is decentralized because its main nodes are scattered around the world and synchronize regularly. Moreover, none of them has a higher status than others.

The success of XLM in the cryptocurrency market largely depends on the competition with their main rival, Ripple, and who will manage to enter into more profitable partnerships. In particular, the creators of Stella Lumens are now very hopeful of concluding a contract with IBM. The success or failure of this agreement will have a critical impact on the platform.

In conclusion, we want to draw your attention to the fact that cryptocurrencies, as a profit-making tool, require competent and careful handling. If you want to get the most out of them, besides looking for top cheap cryptocurrencies to invest, you will need to constantly monitor new trends and feel the situation in the market so that you don’t suddenly lose all your investments.

It is especially important to exchange your existing cryptocurrency assets for others, more promising, and keeping up with the times. To do this, you can use one of the many exchangers that exist on the Web, but we recommend the Godex platform. This project has many advantages, including the absence of limits on operations. Increased reliability due to hard-set rates for each cryptocurrency pair makes it possible not to worry that the rate will change during the transaction. With Godex, you will receive a reliable tool for competent work with your cryptocurrency assets.

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.