Thousands of people across the world now understand that investing in cryptocurrencies is one of the best ways to make money. Though it is still generally considered risky, cryptocurrency investing can be super profitable. It is all about knowing what coins to buy, when to buy, where to buy, when to sell, and a few other rudiments of online investing.
If you are new to the cryptocurrency market, one of the first surprises you will likely encounter is the number of digital currencies out there. There are thousands of cryptocurrencies that you can trade. Of course, some are more profitable than others. But how can you identify these profitable ones?
It may also surprise you to find out that some cryptocurrencies have become very expensive. For instance, Bitcoin started trading from around $0.0008 to 0.08 per coin. At the moment, the mother of all cryptocurrencies is now trading at around $50,000 per coin.
If you are new to cryptocurrency investing, it is not advisable to start trading with as much as $50,000. It is best to find cryptocurrencies to invest in that are both cheap and profitable.
Can Cheap Cryptocurrencies Be Profitable?
Before we go further, it is important that we dispel one myth about cryptocurrencies that prevent many intending investors from coming in. Some people theorize that it is not profitable to invest in cheap cryptocurrencies. This is a misconception peddled by people who are not really experienced in crypto trading.
Another issue we need to address here is the misconception that you have to buy a full coin whenever you need to invest. It is possible to buy a fraction of a coin. After all, you are dealing with digital currencies.
Have you always wanted to invest in cryptocurrencies in 2023 but have been limited by your finances? If you are confused about which cryptocurrency to invest in, here are 15 of the best cryptocurrencies that are cheap and profitable:
1. Cardano
Cardano is the 3rd ranked cryptocurrency in terms of market capitalization. According to Coin Market Cap, Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. It is a solid platform with remarkable features and functionalities that can be applied to different innovative ideas.
Cardano has a native currency that is simply referred to as ADA. Currently priced around $1.32, the token is still very cheap, even after an incredible 544% one-year gain. ADA is also a very profitable coin that will boost your portfolio significantly.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Ethereum
Ethereum is one of the most popular cryptocurrencies because of its excellent open-source blockchain system. The system supports several other cryptocurrencies and is also used for the execution of decentralized smart contracts. It is the platform that is championing the decentralized finance sector.
Compared to its potentials, Ethereum is still considered a cheap coin. Ether is currently priced around $3,800, but experts believe that it will gain a lot more in the coming years. In terms of profitability, Ethereum is one of the best digital coins to invest in.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Bitcoin
Bitcoin is often described as the mother of all cryptocurrencies because it is the first digital coin to be introduced to the world. Launched in 2009 by an anonymous individual or group of persons, using the pseudonym, Satoshi Nakamoto. It is a peer-to-peer online currency that has changed the way people regard online investing.
Bitcoin is the number 1 ranked cryptocurrency in terms of market capitalization. It is also the priciest digital coin, but experts believe it can grow a lot bigger in the future. The price of a single Bitcoin may be too high, but beginners can buy fractions of the coin with $100 or less. Of course, Bitcoin is profitable and has made several people millionaires.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. Ripple (XRP)
Ripple is the company that runs RippleNet, which is a digital payment platform. The platform has a native currency that trades under the ticker symbol XRP. The names XRP and Ripple are often used interchangeably to discuss the coin, which is the 8th ranked cryptocurrency in terms of market capitalization.
Ripple is a cheap coin and also a very profitable one to buy. The platform is great and the coin has performed wonderfully well in the past. There is every chance that it will improve further in the future and an early investment now can yield significant returns in no time.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
5. Dogecoin
Dogecoin was one of the most popular cryptocurrencies in 2021. The digital coin which started as a joke has attracted several influencers and celebrities in recent times. In fact, many regard it as a hot new coin, though it was forked from Litecoin in 2013.
In spite of its sudden popularity, Dogecoin remains a very cheap coin, trading under $0.20 per token. However, this doesn’t mean it is not profitable. In fact, DOGE has been among the best-performing cryptocurrencies in the past two years. It may not be the most innovative coin out there, but it is cheap and profitable.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
6. Litecoin
Litecoin is one of the earliest altcoins. Launched in 2011, the open-source cryptocurrency was created based on the Bitcoin protocol. It shares some similarities with the mother of all cryptocurrencies but differs in terms of the hashing algorithm used and other important factors like block transaction times and hard cap.
Considering how far it has come and its potentials, Litecoin can be described as a cheap coin. It is currently trading at around $150. It is affordable yet profitable to trade.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
7. Binance Coin
Binance Coin is the native currency of Binance, the biggest cryptocurrency exchange in the world. Expectedly, the coin was a major success after it was launched to serve as the unique token for the exchange. It is also used to incentivize users of the exchange.
Binance coin trades under the ticker symbol BNB. It is the 3rd ranked cryptocurrency in terms of market capitalization and currently sells for a little over $510. BNB has been a profitable coin for traders and will likely continue to fetch fat returns for investors.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
8. Polygon
According to Coin Market Cap, Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Previously called the Matic Network, has a modular, flexible framework called Polygon SDK. It supports the creation of different types of applications.
The native currency of Polygon is still referred to as MATIC. It is a cheap cryptocurrency, currently selling for above $2.40 per token. It is the 13th ranked cryptocurrency in terms of market capitalization. It is a profitable coin too.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
9. Tron
Tron is one of the blockchain networks that are trying to make sure that the technology becomes a part of everyday life. It is a blockchain-based operating system that is known for its incredible speed. While Bitcoin and Ethereum are known to handle up to 6 and 25 transactions per second, Tron claims that it has the capacity to support 2,000 transactions per second.
The native currency of Tron sells under the ticker symbol, TRX. It is the 27th ranked cryptocurrency in terms of market capitalization. However, it is one of the cheapest coins out there. At the moment, you can buy TRX for as little as $0.076 per token. We believe the price may pick up momentum at any time, and investors will smile more.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
10. Stellar (XLM)
Stellar is an open network that makes moving and storing money a lot easier for everyone. The network was launched in 2014 with the goal of making improving financial inclusion by reaching the unbanked people on earth. It has done a lot to reach the goal and has become very relevant in the process.
The native currency of Stellar is called Lumens. It trades under the ticker symbol XLM and has become one of the popular cryptos among informed investors. XLM still sells for less than $0.30, making it one of the cheapest top coins. It is also a profitable investment as the price is bound to rise in the future.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
11. Shiba Inu
Shiba is used as the short name for the Shiba Inu Coin, a cryptocurrency that has been described as the “Dogecoin Killer”. If you are conversant with both coins, you will know that they share a few things in common – especially the image of Shiba Inu, the special dog breed from Japan that has taken the internet by storm.
Shiba Inu Coin, which trades under the ticker symbol SHIB is one the cheapest coins out there. At the time of writing this piece, it was selling at $0.0000328. It is a pretty new coin, and there is a good chance that it will win the hearts of many more people in due time and become even more profitable than it is at the moment.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
12. Solana
Solana is one of the stars of the fast-growing DeFi subsector. It is a highly functional open-source project that uses blockchain technology to make the creation of decentralized apps (DApps) easy. Solana is a pretty new project – it was launched in 2020 but has already started making waves.
Investing in Solana now will be a smart move for many reasons. Though it is already trading for around $170, it is still considered a cheap coin. It is likely that the value will appreciate significantly in the few years to come.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
13. Uniswap
Yet another cryptocurrency advancing the course of the DeFi subsector, Uniswap can be a great investment for many reasons. It is well recognized for its role in facilitating the automated trading of DeFi tokens. It also improves the efficiency of trading when compared to traditional exchanges.
Another wonderful reason to invest in Uniswap is the fact that it is currently cheap when you consider how much it can be worth in a few years’ time. There is a good chance that a modest investment at the moment can yield significant profit in the near future. It is the 18th ranked cryptocurrency in terms of market capitalization.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
14. Chainlink
Chainlink is currently ranked 20th among the biggest cryptocurrencies by market capitalization. At the time of writing, it is just a position below Uniswap, another incredible coin. It is also a cheap coin when you consider what it can be worth when the DeFi space explodes.
There are many reasons why Chainlink is loved by users and investors. It allows for the integration of off-chain data into smart contracts. It is recognized as a major player in the data processing field and will likely grow significantly in the near future.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
15. IOTA
Last but definitely not least here is IOTA. This is an incredibly useful cryptocurrency that solves major problems in both the cryptocurrency universe and the fast-growing Internet of Things (IoT) industry. It is both a blockchain and a distributed ledger.
There are several wonderful things about IOTA, including the performance of its native coin, which trades under the ticker symbol MIOTA. It is a very cheap coin, selling for about $1.36 at the time of writing. It is also a profitable coin to invest in.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Final Words
Cheap cryptocurrencies are not bad investment options at all. Rather, they can fetch you meaningful profit when you trade strategically. These 15 cryptocurrencies are the best options for new investors because of their potential profit and are also cheap.
It is also very important that you choose to buy your cryptocurrencies from the right source. eToro is probably the best brokerage for investors and traders of all experience levels.
eToro – The Best Platform To Buy Cryptocurrencies
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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