Here are seven cheap cryptocurrencies to buy this month
Today’s article introduces seven cryptos that worth buying in May.
With digital assets gaining more traction these days, investors, traders, and corporate giants are putting their money in cryptocurrencies. Apart from high-budget cryptocurrencies, several tokens with high growth potential are still undervalued, providing multiple investment opportunities.
Many cryptocurrencies are currently trading at a cheaper value than perceived and can add diversity to your investment portfolio. Finding undervalued cryptocurrencies can be a tricky endeavour. Therefore we have created a list of the top 7 cheap cryptocurrencies to buy in May 2022 to help you navigate new investment avenues.
So, what is the top cryptocurrency that could make you a fortune this month? We’ve compiled a list of 7 options for you to consider.
With that information, here are seven cheap cryptocurrencies to buy in May 2022:
- Ripple (XRP)
- Cardano (ADA)
- Tron (TRX)
- Uniswap (UNI)
- Litecoin (LTC)
- Binance Coin (BNB)
- Chainlink (LINK)
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Cheap Cryptocurrencies To Buy In May 2022
1. Ripple (XRP)
More than just a cryptocurrency, Ripple is also an exchange that enables users to transfer funds across borders much faster than other traditional banking systems. Rather than completely disrupting the entire system, it integrates with it to make it more advanced and faster for users.
Even though Ripple converts the transferring currency to XRP, it reaches the recipient in their native currency and not XRP. This is one of its unique features, which has made cross-border payments more efficient and faster.
Ripple faced severe challenges in 2021 with the allegation from SEC, terming Ripple as security and not a crypto token. But thanks to its dedicated development team and the Magistrate Judge who defended XRP, Ripple won the lawsuit and has been on a steady upward climb.
The win against the SEC and some of its strong partnerships have boosted XRP's value in the market. With a price of $0.63 as of writing, Ripple has successfully positioned itself as one of the top 7 cheap cryptocurrencies to buy in May 2022.
Read More: Ripple Price Predictions
2. Cardano (ADA)
Cardano (ADA) is an advanced open-source blockchain project that aims to create a decentralized public blockchain platform for smart contracts. It aims to tackle some of the common issues of blockchain networks, such as scalability, sustainability, and interoperability.
ADA, the native token of the Cardano network, has seen a significant rise over the past few months. With a tremendous rally, it hit an all-time high of $3.10 on 2nd September 2021. It currently sits at $0.79, with crypto enthusiasts predicting that the price will breach $3 by the end of this year.
The unique feature that makes Cardano stand out is its Ouroboros blockchain mechanism. It provides two blockchains, one for basic transactions and the other to handle smart contracts. This is why the Cardano network processes a faster transaction and prevents the scalability issue completely.
With the rising demand for DeFi platforms, cryptocurrencies like Cardano have shown high interest from institutions and investors. Cardano is all set for another massive rally, with the initiation of its new Goguen Era. It will open up more opportunities for developers and enterprises, marking it as a significant step in upgrading the abilities of Cardano.
All things considered, if you are looking to buy crypto in May 2022, then it’s hard to argue against Cardano being the first coin to consider adding to your portfolio.
Read More: Cardano Price Prediction
3. Tron (TRX)
Best known for its high transaction speed, Tron is a unique cryptocurrency that processes content sharing to popular service providers like Facebook and YouTube. It has successfully become a viable competitor to payment processors like PayPal by processing around 2000 transactions per second (TPS).
Tron is an undervalued cryptocurrency that has the potential to challenge its competitors like Google Play or Apple, who provide the same service for a significantly higher price. Tron has zero transaction fees and is one of the top 7 cheap cryptocurrencies to buy in May 2022, as it sits at $0.072 as of writing.
TRX is a cryptocurrency that is here to stay as the media sector is developing tremendously day by day. It enables users data liberations, storing of content, free sharing, and makes it accessible for a larger audience.
Tron is an ideal choice for investors as a long-term investment option because of its crystal-clear development plan for the future. It provides complete transparency and clarity to investors and users with a detailed 6-stage plan covering 2017 to the end of 2027.
Don't Miss: TRON Price Predictions
4. Uniswap (UNI)
A decentralized exchange that works on the Ethereum blockchain, Uniswap has gained much traction in the past few months. Like many other cryptocurrencies, it also uses a two-layered blockchain to handle transactions.
Over the past few years, Uniswap has tremendously boosted the growth of the DeFi sector, and several investors have staked over a billion dollars in cryptocurrencies on this leading DEX. With a significant rally, UNI has surged to an all-time high of $44.97 on May 3.
Thanks to its unique governance token UNI, Uniswap is represented as a publicly owned and self-sustainable financial infrastructure in the market. The token facilitates users with the opportunity to participate in fundamental development decisions by providing voting rights. Adding to its popularity, UNI is eToro's first token in the decentralized trading infrastructure.
With its newest Uniswap V3 upgrade, UNI has successfully positioned itself as one of the cheapest cryptocurrencies to buy in May 2022. The upgrade will further focus on capital efficiency and possess features like concentrated and active liquidity, range order, etc.
If you’re prepared to hold your crypto assets then Uniswap could prove to be the best cryptocurrency to buy this year.
Don't Miss: Uniswap (UNI) Price Predictions
5. Litecoin (LTC)
Litecoin is an entirely decentralized global payment network. It is a peer-to-peer Internet currency that enables instant, near-zero cost payments to users worldwide. It is a widely accepted cryptocurrency, with more than 2000 merchants and stores accepting it as a mode of payment across the globe.
LTC has an improved storage efficiency compared to other coins in the market. It is currently the 22nd largest cryptocurrency with a market cap of $7 billion as of writing. 2021 was a fertile ground for Litecoin, making it one of the best yet cheap cryptocurrencies to buy in May 2022.
Thanks to its Atomic Swap technology, Litecoin is the most preferred choice for traders and businesses. It enables seamless cross-border transfers with faster confirmation time and low-cost payment.
As blockchain technology is becoming the future facet of the gaming industry, Litcoin's partnership with the gaming giant Atari will eventually boost its value and demand in the market tremendously, making it an ideal long-term investment option.
Check Out: Litecoin Price Predictions
6. Binance Coin (BNB)
2021 was a prolific year for Binance Coin. Its price has surged up higher from the 10th position to successfully securing the 4th position in the CoinMarketCap ranking. The primary reason behind BNB's popularity is its exchange platform. Binance Exchange is one of the world's largest, fastest-growing, and highly secured exchange platforms in the market.
BNB has a unique consensus mechanism known as the Byzantium Fault Tolerance (BFT), which ensures the absolute security of the user's funds. With its latest updates and increased adoption, BNB has seen a significant rally in 2021, hitting an all-time high of $690 in May.
A significant reason for the increase in BNB's value and demand in the market is its unique strategy called Binance Burn, where it burns out a specific percentage of coins every quarter to make it scarcer. In 2022, Binance has plans to accelerate the process of burning every quarter. As demand increases, value also increases, making it one of the best and cheapest cryptocurrencies to buy this month for a good return.
The launch of the Binance Smart Chain will enable the creation of smart contracts and staking mechanisms for BNB. It will also facilitate a cheap transition fee and an increase in DeFi interoperability in the Binance Exchange.
Don't Miss: Binance Coin (BNB) Price Predictions
7. Chainlink (LINK)
With the increasing demand for decentralized products and services, Chainlink has positioned itself as a widely opted decentralized oracle network (DON) for securely integrating real-world data into smart contracts.
The native token of this leading on-chain provider is known as LINK. LINK is an affordable cryptocurrency that is highly valued in the market, trading at around $11.3 as of writing. Instead of competing with other cryptocurrencies, Chainlink aims to expand the functionality of the blockchain network, providing developers great flexibility.
With a market cap of $5.28 billion, LINK is one of the hottest tokens in the market and the best cheap cryptocurrency to buy in May 2022. Chainlink is a potential investment option as it offers various benefits to the blockchain network.
The Chainlink 2.0 upgrade will build off-chain networks on top of the oracles, making the execution of smart contracts effortless and cheaper.
Read Also: Chainlink (LINK) Price Predictions
Cheap Cryptocurrencies To Buy In May 2022: A Final Word
There are thousands of cryptocurrencies in the market, and it is a good practice for investors to expand their investment portfolios with different tokens.
If you are new to the crypto investment scene, you can start with cryptocurrencies with a lower price point before moving on to the bigger coins like BTC, ETH, etc. The 7 coins mentioned above are the top cheap cryptocurrencies to buy in May 2022, an ideal choice for a long-term investment plan.
No one can say for sure what are the cheapest cryptocurrencies to buy, but if you are planning to invest in crypto assets in the coming months, then the seven digital assets are all good options to consider. However, as always any investments you make should form part of a diversified portfolio.
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