Today with more than 5000 crypto tokens available in the market, diversity is the key to successful investment in cryptocurrencies. Generally, investors prefer major cryptocurrencies like Bitcoin and Ethereum over other low-priced altcoins. But this tradition is losing out in favour of several potential and cheap altcoins available today, which can assure good returns with minimal investments. If you are a novice investor or are trying to explore the blockchain world more, it is always best to choose the most affordable and trusted cryptocurrencies to invest in with minimum risk.
Therefore, here are 5 of the best and cheapest cryptocurrencies to own right now, which would be a great addition to your investment portfolio.
5 Of The Cheapest Cryptocurrencies To Own
1. Tron (TRX)
Tron is a unique decentralized blockchain ecosystem that aims to overhaul the entertainment and digital content sharing sectors. There has been a significant rise in the price of its native token TRX since the beginning of 2021.
Tron stands out from its competitors in the way in which it monetizes user data. It is entirely different from the methods adopted by other social media sites like Facebook or Youtube, for that matter. Tron provides users complete ownership over their content and data, unlike its competitors.
Therefore, Tron’s unique approach will lead it to what is precisely known as Web 3.0, where people can use the internet as a decentralized open network. Backed by advanced blockchain technology, TRX possesses functionalities that enable it to host several decentralized applications too.
Trading at $0.071803, as of writing, the token is one of the cheapest cryptocurrencies to own now and is a good buy. Moreover, the platform is capable of processing over 2000 transactions per second, which makes it a viable alternative to payment processors like PayPal. Best of all is its zero transaction fees, where users can send over a million dollars in TRX anywhere in seconds without having to pay a fee.
With a lot of interest and hype built around the token, experts see it as a viable investment option. Lately, TRX saw a sudden price hike when Justin Sun donated millions of dollars to charity and also when Tron was linked to Keystore, a Samsung blockchain project.
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2. Dogecoin (DOGE)
Thanks to Elon Musk and his series of tweets, Dogecoin rose to prominence earlier this year, making it one of the best yet cheap cryptocurrencies to own in 2021. What started as a joke became quite a serious token as people started profiting from it.
The coin is certainly still cheap at $0.316897 as of June 16th, 2021, and is currently one of the cryptocurrencies that analysts and experts consider to be a viable investment option. Among its boosters, the loudest voice is Musk, who called Dogecoin his favourite cryptocurrency till now. He also named it the “people’s crypto” and promised to plant a physical Dogecoin token on the moon.
The millions of followers on Twitter were more than enough to boost the price of DOGE. Apart from celebrity endorsement, Dogecoin’s rise is also fueled by quicker and easier transactions, making it more efficient for processing payments.
Hitting its highest price of $0.7376 on May 8th, 2021, many critics have touted this affordable cryptocurrency as popular as Bitcoin and Ethereum. The bullish movement has also pushed the market cap to almost $41,212,381,330.
Though it experienced a minor pullback in the May 19th market crash, it is bouncing back rather quickly with its latest listing on the largest crypto exchange, Coinbase.
Check Out: What Will Dogecoin Be Worth in 10 Years?
3. Ripple (XRP)
Ripple Labs, the company behind the crypto token XRP, describes itself as a payment solutions company. Ripple XRP has thus gained tremendous traction in the past few years as an efficient crypto token that facilitates cross-border payments between countries.
Unlike other cryptocurrencies, Ripple works on a centralized infrastructure. That is, instead of being completely decentralized, XRP uses a network of validators to confirm transactions. It works with traditional financial institutions to make their payment system more advanced with blockchain technology.
While to be accepted as validators for the XRP payments, users have to be trusted enough to be a part of Ripple’s Unique Node List. However, Ripple has claimed that its native token’s high transaction speed is a potential alternative to conventional wire transfers, which take a long time and have higher fees.
Ripple has been in the crypto world long enough and has gained the trust of multiple prominent financial institutions that still back the token. With its price of $0.864225 (as of writing), XRP is one of the cheapest cryptocurrencies to own now and a safer investment option.
Moreover, Ripple is proposing Federated Sidechains for the XRP Ledger to balance user requests for smart contract features on the network. Along with allowing users to implement new features like native smart contracts, it also maintains the existing lean and efficient feature set of XRP Ledger.
Furthermore, Ripple’s case in the SEC lawsuit is looking even stronger now, and if the verdict comes out favourable, XRP will soar to meteoric heights hitting records.
Read Also: Will Ripple Reach $10?
4. Shiba Inu (SHIB)
Yet another meme coin that has been trending lately in the crypto community is the Shiba Inu Coin. This unique coin is an experiment in decentralized spontaneous community building. It is thus supported by a large community of coin holders who promote it on social media channels like Reddit and Twitter.
Though SHIB has seen a minor pullback due to the recent market crash, its increasing interest from investors around the globe and limited supply is driving the price to heights. It has shot up over 23% within a few days to $0.000009 as of writing, making it the cheapest yet best cryptocurrency to own now.
Its developers implemented an exciting strategy to increase its demand in the market. They locked up over 50% of the SHIB token in Uniswap and gifted the remaining to Vitalik Buterin soon after minting one quadrillion tokens. But Buterin burned 20% of the token, sending over 410 trillion to an unusable and inaccessible wallet. This effectively removed a large portion of coins from circulation forever, reducing its supply. It will eventually fuel the token’s price in the coming decades as its demand increases.
Additionally, the crypto token has already been listed on several prominent crypto exchanges like Binance, Huobi, FTX, etc., within a very short span. Further, the news that Binance, India’s largest exchange will list SHIB tokens on the Binance Innovation Zone has spurred huge interest in the token on social media platforms.
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5. Cardano (ADA)
Thanks to its unique process, dedicated development team, and advanced technology, Cardano is quickly making a name for itself in the competitive world of cryptocurrencies. Its flexible network, fast transactions, and affordable price ($1.56 as of writing) have made Cardano one of the best and cheapest cryptocurrencies to buy now for future returns.
Scalability, interoperability, and sustainability are some of its key selling points. With its recent, much anticipated Mary update, Cardano has paved the way for users to create unique tokens on its network, including non-fungible tokens (NFT).
The recent increase in ADA’s price is also due to its unique Proof-of-Stake mechanism that not only allows faster and cheaper transactions but is environmentally friendly. The ADA coin is considered a “green coin” as the Cardano mining is far more energy-efficient due to its differentiated underlying architecture.
Its price growth may also have to do with the fact that the blockchain has multiple uses. Along with acting as cash like Bitcoin, it also holds voting rights for its users. ADA coin holders can vote to make specific changes in the system, giving them a key role in determining the future development of the cryptocurrency.
While the market continues to fret over the eco-friendliness of cryptos, the unique features of Cardano could position ADA coin to outperform over the coming decades, making it a sustainable investment option.
Check Out: What Will Cardano Be Worth In Five Years?
There has been a spectacular increase in the price and demand of altcoins in 2021. Therefore, it is no surprise that smart investors are looking for new low-priced altcoins that could make them crypto millionaires. Moreover, with the recent market sell-off, cheaper crypto tokens are an attractive investment asset right now due to their potential upside and minimal risk.
Therefore, considering the market price, volatility, development plans, and future potential, the coins mentioned above are the 5 best yet cheapest cryptocurrencies to own right now for a fruitful investment journey.
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