10 Cheap Cryptocurrencies To Check Out

Last Updated July 27th 2021
13 Min Read

It's 2021 and the majority of people around the world know what cryptocurrencies are. Investing in cryptocurrencies has become one of the surest ways to make money online. The cryptocurrency universe has created several known millionaires, and we know that for every known crypto millionaire, there are three to four unknown ones. 

The global cryptocurrency market has turned into a trillion-dollar market. That doesn't mean it has shut out penny investors. While Bitcoin and a few other popular cryptocurrencies are worth thousands and hundreds of dollars, there are still cheap cryptocurrencies out there. 

Though price is one of the biggest factors to consider while choosing a digital asset for your investment portfolio, it shouldn’t be the only one. The priciest cryptocurrencies are not always the best ones to invest in. Investing in a cheap cryptocurrency can be awesome, both for short-term and long-term purposes. 

Many Cheap Cryptocurrencies To Choose From 

To be honest, there are several cheap cryptocurrencies out there. As hinted already, you can't judge crypto based on its price alone, so choosing the right ones for your portfolio can be pretty challenging. We understand this, and we are here to help. 

To identify the right cheap cryptocurrency to buy, you need to research several coins. By researching, we mean you need to look at the origin of the coin, its history, the problem it solves, the market performance in the past, current position in the global crypto market, and many other factors. We understand that many investors (especially beginners) may not be able to do this effectively, and we are here to help. 

Being industry insiders, we understand how the crypto market works. We also help people from every continent make the right investment decision by providing the right information. At the end of this piece, we believe you will be better equipped with the knowledge you need to choose the right affordable cryptocurrencies to trade or invest in. 

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Top 10 Cheap Cryptocurrencies You Should Check Out 

Without further ado, here are ten cheap cryptocurrencies we believe can light up your investment portfolio in the coming years: 

There are several other cheap cryptocurrencies that can be great in the future, but the ones above appear to be the best ones for the season. We’ve researched the coins already and know they can pull some positive surprises in the future. Here, we will briefly discuss some of the most important things you need to know about them. 

1. VeChain (VET) 

The VeChain Thor Blockchain was created with the goal of "solving real-world economic problems". So far, the network has tried in many ways. It is even backed by PwC, the leading audit firm. Currently, the blockchain has two types of tokens – VET, which is the regular token investors and traders buy and VTHO, which is issued as a reward for VET staking and used for smart contract and transaction executions. 

At the time of writing, VeChain (VET) is selling for $0.08681 with a 24-hour trading volume of $1,044,748,160. It is the 23rd ranked cryptocurrency in terms of market capitalization. Obviously, it is one of the cheapest digital coins out there, but it has lots of potentials. 

There are several reasons you may want to invest in VeChain (VET). For a start, it is the native currency of one of the first and best blockchain-powered supply chain platforms. Earlier this year, it recorded a one-year gain of 4,500%, and we believe that another bullish market can see the coin surpass that feat. 

2. Stellar Lumens (XLM)

Stellar is an open-source digital payment network that has done a lot for several people in different parts of the world. The network was created with the goal of "creating equitable access to the global financial system", and it has achieved a lot in this regard. It facilitates instant global financial transactions at minimal cost and has been adopted by many recognized institutions. 

The Stellar Lumen (XLM) is currently priced at $0.2775. Its previous 24-hour trading volume is $560,676,511. In terms of market capitalization, it is currently ranked 19th. Staller is a cheap cryptocurrency alright, but it has the potentials to make investors rich. 

There are many reasons you may want to invest in Stellar. Firstly, it has a solid team behind it. Secondly, it has been adopted by many reputable financial institutions. The Stellar network is highly secure, and Stellar Lumens is easily available in exchanges and brokerages, including eToro.

3. Tether (USDT) 

People often overlook the potentials of stablecoins like Tether. The truth, however, is that these coins can be millionaire makers too. Tether is one of the first successful stablecoins. It is also considered one of the best ones at the moment. As you may know, the coin is tied to the US dollar, so its price is always $1 or thereabout. 

While the price of Tether doesn’t change much, the coin solves a very big problem in the market. Tether is one of the digital coins that help traders and investors to check volatility in the market. Though it is not officially real money, it performs the function of the USD for cryptocurrency traders and investors. It also makes conversion of fiat currency to crypto easier. 

As a stablecoin, Tether’s price will not increase in the future. But investing in the coin can still be profitable in the long run. You can use it for value storage and you can also use it to cushion the effect of market factors on your other digital assets. It is one of the cheap cryptos every crypto enthusiast should own. 

4. Dogecoin (DOGE) 

Dogecoin is currently one of the most popular cryptocurrencies for several reasons. The coin originated from a meme and has gone viral on several occasions. Recently, Elon Musk played a huge role in the performance of the coin. There are several other industry insiders who have hyped up DOGE and the coin has made several people millionaires just this year. 

In spite of the exploits of Dogecoin, it is still a pretty cheap coin. At the time of writing, DOGE was exchanging for $0.2176 with a 24-hour trading volume of $3,929,144,717. Even the all-time high of $0.7376 it achieved in May is still a far cry from the $1 mark. However, it is the 7th ranked cryptocurrency in the world in terms of market capitalization. 

Many people believe that DOGE's performances are mostly linked to hype. In spite of that, it is one of the cheapest cryptocurrencies that can make you rich. The important thing is to know the right time to buy and the right time to sell. You also need to be strategic when trading or investing in DOGE

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5. EOS 

EOS is considered by many industry insiders as an important cryptocurrency that can change the game in the near future. The network was designed to make crypto transactions faster and less expensive. So far, it has performed so well that many see it as a direct competition to Ethereum. 

At the time of writing this post, EOS was trading at $3.85 per token. That is higher than the price of most coins we’ve discussed, but it is still generously cheap for a coin of its class. It is ranked 39th in terms of market capitalization, but it is a widely traded coin. The 24-hour trading volume at the time of writing was $1,163,960,013. 

EOS is one of those cheap coins that have the potentials to become a lot more valuable in the future. It solves a real-world problem so efficiently that those who know so much about it keep buying more of it. Despite the rivalry with the great Ethereum, EOS is likely to succeed and make investors richer. 

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6. Cardano (ADA) 

Cardano is a smart contract network with a cheap but reliable native currency (ADA). Thanks to its smart contract capabilities, the coin is making it easier for visionaries, changemakers, and innovators to bring about positive global changes. Many companies continue to take advantage of its infrastructure to build their financial applications. 

Cardano (ADA) is currently priced at $1.33 per token with a 24-hour trading volume of $2,415,797,101. It is the 5th ranked cryptocurrency in the world, in terms of market capitalization. It has the potentials for growth and can become a millionaire-maker in the near future. In fact, it has already made several people rich. 

The price of Cardano is likely to improve significantly in the near future, which is why we feel it is one of the best cheap digital tokens to buy. It is also a highly reliable digital asset, with a high-profile team behind the scene, making sure it is serving its purpose in the crypto universe and the world at large. 

7. Chainlink (Link)

If you are familiar with the cryptocurrency market you will know that DeFi is the next big thing. The world of Decentralized Finance is full of several currently cheap coins, and Chainlink is one of the most interesting ones. The network can be used to securely connect to external data sources, APIs and payment systems in the blockchain space. The coin is super important in the scheme of things. 

According to Coin Market Cap, LINK is trading at $19.04 with a 24-hour trading volume of $1,327,664,199. That may not appear as cheap to you, but understand that it is an interesting coin with huge potentials. It is currently ranked 14th in terms of market capitalization. 

There are so many reasons to invest in Chainlink. The network is driven large open-source community of smart contract developers, researchers, security auditors, data providers, node operators, and many more. LINK is one of the best tokens for those who want a piece of the DeFi cake at a reasonable price. 

8. Polkadot (DOT)

Polkadot is an interesting cryptocurrency – the name alone commands attention. The Polkadot network is also a unique open-source sharding multichain protocol that has interoperability as its selling point. The network allows for the cross-chain transfer of all manners of data and assets, including crypto tokens. It is an innovative platform that brings other crypto platforms together. 

At the time of writing this post, DOT is trading at $14.58 per token. That is higher than many of the tokens we discussed earlier, but it is still very cheap when compared to the potentials of the coin and its parent network. Polkadot (DOT) is the 9th ranked cryptocurrency in the world, in terms of market capitalization. 

Polkadot is undoubtedly a decent investment option for anyone who can stand the heat of the cryptocurrency market. It is the native currency of a special network, and it performs about three different functions in the market. Polkadot presents different ways to earn, even as the value of your investment appreciates. 

9. Litecoin (LTC)

Litecoin is one of the most respected cryptocurrencies for many reasons. It is one of the first successful altcoins and has continued to attract investors after about a decade of circulation. In spite of its reputation, the peer-to-peer digital currency is still affordable. Primarily, it is considered attractive because of its ability to handle higher transaction volumes than Bitcoin. 

According to real-time data from Coindesk, Litecoin is trading at $137.13 per token with a 24-hour trading volume of $1,804,709,558. That is significantly higher than the price of most of the cheap coins we discussed earlier. However, we feel the coin is still reasonably priced and will most likely improve in the future. It is the 13th ranked cryptocurrency in the world, in terms of market capitalization. 

Litecoin is an incredible investment option – most cryptocurrency enthusiasts know this already. LTC may not be one of the cheapest coins on this list, but it is a great buy for anyone who wants a slightly secured investment option in the cryptocurrency space. 

10. Monero (XMR)

Monero is another popular cryptocurrency with potentials. It belongs to a wide group of cryptocurrencies called “privacy coins”. It is the digital asset of choice for anyone who prioritizes anonymity when it comes to cryptocurrency investments. Besides the privacy card, Monero offers several other things we may not be able to get into right here. 

At the time of making this post, XMR was trading at $227.70 with a 24-hour trading volume of $249,725,655. Obviously, it is one of the most expensive tokens on the list, but we still believe it is reasonably priced for a coin of its calibre. We consider it affordable for core crypto traders and investors. 

Privacy is Monero’s selling point, no doubt, but the coin and its network have several other things going for them. Security, faster transaction time, and improved liquidity are some of the other interesting qualities of the network and its native coin. 

How to Choose the Right Cheap Cryptocurrency 

We’ve already stressed that Price should never be the only factor to consider when investing in cryptocurrencies. When you have to choose between several cheap cryptocurrencies, price should be removed from your yardsticks. Here are the other important things you should take into account to make a sound decision: 

Circulating Supply 

It is not advisable to invest in a cryptocurrency that has less than 10 million coins in circulation. It is also important to choose a coin that has had, at least, 25% of its expected total/maximum supply mined already. 

Market Capitalization 

Market capitalization is one metric you don’t want to joke with when choosing a digital asset. It is advisable to choose a cheap coin with more than $20 million in market capitalization. 

Liquidity 

You also need to consider the liquidity of a coin before settling for it because that will ultimately determine whether the price will improve, as well as the ease of selling the coin when you need to. You are advised to choose a coin with at least $1 million in daily trading volume. 

Availability in Major Exchanges 

Regardless of how cheap and profitable a cryptocurrency appears to be, do not invest if it is not listed in major cryptocurrency exchanges. Check to ensure that the coin is easily available on multiple sites, including Binance and other popular exchanges. 

Key Metrics on Popular Crypto Sites 

It is also important that you check the key metrics of a cryptocurrency on popular crypto sites like CoinMarketCap, Coindesk, and others. These sites provide critical data that can help you understand the future of the coin better. You can also check authority websites for price predictions. 

Transparency 

While the cryptocurrency world is fast developing into a reliable company, there are still a lot of scams out there. You need to choose a coin with social media presence. The team behind the coin should also report on its development with transparency. 

Where to Buy the Best Cheap Cryptocurrency 

There are different ways to buy cheap cryptocurrencies, but you need to be very careful if you don’t want to lose your investment. Initial Coin Offering (ICO), for instance, makes it possible for risk-takers to get cryptos at very cheap prices when they are just being launched. 

Another way to get cheap cryptocurrencies is to buy from exchange platforms. However, you should go for the exchange platforms with the lowest possible fees. You can also buy cheap cryptocurrencies from individuals. 

Another cool way to invest in cheap cryptocurrencies is to buy through a reliable brokerage like eToro. Over the years, the full-service brokerage has shown that it is one of the friendliest platforms on the market. 

Always Invest the Smart Way 

Having been involved in cryptocurrencies and other aspects of online trading, we understand why it is so important to tread carefully while buying digital assets. We often advise traders and investors to investigate each coin carefully before jumping in. We also recommend using eToro because of the benefits it offers new, intermediate, and experienced players in the industry. 

We also highly recommend continuous learning for those who want to make a profit and build wealth through online trading and investments. There are tons of education websites out there, and Trading Education happens to be one of the very best ones. 

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