Bitcoin (BTC) current price levels make it pretty much unreachable for most investors. While it has corrected over the last few days, its current price of $40,000 is still over 200% higher than it was in early 2020. Essentially, unless one is ready to spend thousands of dollars, current prices dictate that one looks into alternatives. The challenge is that the altcoins market is murky, and just throwing money at any random project can lead to massive losses, as most have weak fundamentals.
Others, such as Ethereum, Filecoin, and Litecoin have become too expensive too. For this reason, we have narrowed down on fundamentally strong altcoins under $2. Not only do these altcoins have the potential to gain exponentially in a short time, but you can also accumulate a lot of them, with as little as $1000. This means if they ever hit double-digit valuations, an investor could make a kill. Without wasting time, below are 9 cryptocurrencies under $2 that could be the next Bitcoin.
9 Cryptocurrencies Under $2 That Could Be the Next Bitcoin
- Dogecoin (DOGE)
- Ripple (XRP)
- IOTA (MIOTA)
- Digibyte (DGB)
- Basic Attention Token (BAT)
- Shiba Inu (SHIB)
- Tron (TRX)
- Cardano (ADA)
- Vechain (VET)
9 Cryptocurrencies Under $2: Dogecoin (DOGE)
When it comes to cryptos under $2 that could be the next Bitcoin, Dogecoin automatically comes to the top. Unlike a year ago when it was just a joke, Dogecoin is now a serious cryptocurrency. It has what it takes to give the same level of absolute gains that Bitcoin has given investors since its launch. Dogecoin is already up by over 12000%, and its fundamentals seem to be getting better.
For starters, the developers are back, and they have their work cut out. Elon Musk, who is now Dogecoin’s biggest proponents has proposed an increase in both block times and speed by 100X. Such a move would make Dogecoin one of the most scalable blockchains in the market, and perfect for use as everyday money. If this gets actualized, it would play positively into Dogecoin’s price action. This is especially the case now that Dogecoin has been thrown into the limelight as Elon Musk’s favourite crypto.
Still, on Elon Musk, there are reports that SpaceX moon mission could be funded in Dogecoin. This is a factor that could see investors keep pouring money into Dogecoin ahead of such a possibility.
Another key factor to Dogecoin’s potential for gains is the increased volatility of the market. Bitcoin at current prices is quite expensive, and a sizeable portfolio of this crypto can set one back tens of thousands, or even hundreds of thousands of dollars. For an asset that can lose over 20% of its value in a single day, this is a disincentive. Dogecoin comes across as a viable alternative. The dollar amount required to build a sizeable Dogecoin portfolio is relatively small, yet it has the potential for exponential gains that could rival those of Bitcoin long term.
Ripple XRP was one of the biggest gainers during the 2017 crypto rally when it hit highs of $3.5. However, the 2018 crypto crash, coupled with its legal battles between ripple and the SEC saw it lose its number 3 position in crypto rankings.
That said XRP has every indication of a crypto that could outcompete Bitcoin in gains long term. One factor that could trigger this is a favourable ending to the case between Ripple and the SEC. In all the rulings made by the court so far, Ripple seems to be winning. One of the biggest wins that they got was the ruling that the personal financial records of Ripple’s top guys, Brad Garlinghouse and Chris Larsen were immaterial to the case.
Another ruling is expected to be handed out on the 21st of May. Even as this ruling approaches, XRP is already showing some positive price action relative to the rest of the market. Essentially this means that if the ruling comes out positive, XRP could easily decouple from the rest of the market at an exponential rate.
Such a possibility is enhanced by the fact that XRP has one of the strongest communities in crypto. This means in the event that the ruling comes out favourable, the hype that would build around XRP could be astronomical. To understand the power of the XRP community, one needs to look at their involvement in the case since it started. The community has been so involved in the case that the SEC has been forced to respond to them.
The confluence of the above factors put XRP at the crisp of becoming the next Bitcoin. This is one of the few cryptos with the potential to gain in value completely independent of the volatility in the entire crypto market.
IOTA (MIOTA) is another gem that has the potential to become the next Bitcoin in terms of absolute gains. To understand the potential IOTA holds, one needs to look at the size of the market that it is targeting. IOTA is aiming to disrupt the Internet of Things market, one that is expected to be worth a trillion dollars by the 2030s.
Besides taking on a high growth market, IOTA also has the team to make it happen. They have built the Tangle, which is a feeless decentralized ledger technology that is perfect for use in micro-transactions. The tangle is so well done that IOTA has come under the radar of global car manufacturers such as Volkswagen.
IOTA is also gaining in adoption in industries as diverse as storage. For instance, Heliostorage is now using IOTA for IoT communications in its industrial buildings. This is just a hint of how big IOTA could be in logistics and supplies.
With such a strong use case, it is only a matter of time before IOTA explodes in value. It is also noteworthy that IOTA does not have the marketing hype that is characteristic of most crypto projects. This means there are lots of investors out there who do not know about IOTA and the potential it holds.
As adoption opens up, and more people learn about it, IOTA could be huge.
Digibyte may not instantly come to the minds of many as a possible big winner long term, but it has the potential. There are a number of factors that make Digibyte stand out, that crypto investors are only beginning to appreciate.
The first one is decentralization. Digibyte is easily the most decentralized cryptocurrency in the market. Like Bitcoin, it had no initial coin offer, which means there are no entities that control large chunks of it. This is a safeguard against being dumped on by whales. Digibyte mining is also more decentralized than that of Bitcoin. Recently, Elon Musk noted that a flood at a coal mine in China caused a drop in Bitcoin the hash rate by a significant margin. This means that Bitcoin mining is centralized and heavily in the hands of Chinese miners. Digibyte does not have this problem, as it can be mined using ordinary computers. Its miners are spread all over the world. The fact that Digibyte does not need sophisticated equipment to mine also means that is eco-friendly. The environmental friendliness of cryptocurrencies is coming into focus globally, and Digibyte clearly passes the test.
Then there is the issue of security. Digibyte is one of the cryptos that are impossible to compromise at this point. It has one of the longest UT/XO in crypto, which means the hash power needed to do a 51% on Digibyte is almost impossible to raise. In a world where cybersecurity risks are becoming more sophisticated, this is a strong feature.
On top of all the above features, Digibyte is very practical for use as an everyday currency. Its transaction costs are among the lowest of all Proof-of-Work in cryptos. This gives it a much higher utility value than a ton of other cryptos in this market.
As more investors appreciate its potential, Digibyte could beat Bitcoin in absolute gains going into the future.
5. Basic Attention Token (BAT)
Basic Attention token is another crypto below $2 with the potential to pull Bitcoin-like gains. It is the crypto that powers the Brave browser, which is at the center of web 3.0. The working mechanism of this browser is quite simple. Users are paid for the time they spend viewing ads on the browser. Those who create content that ranks well on Brave search are also rewarded in brave tokens. Given that this browser guarantees ad-free browsing, and total privacy, its adoption stands to keep gaining over time. Essentially, demand for BAT will always be there as long as people are using the brave browser.
The browser has also taken a step that could see it gain even more users over time. It recently announced that it was partnering with unstoppable domains to allow users to create crypto addresses. Through this partnership, Brave browser and Unstoppable Domains are looking to rope in at least 3 million crypto domain names into their ecosystem. This partnership could trigger a run in the price of BAT in the long run. Over the last few months when the price of cryptocurrencies and their adoption increased, the price of the BAT has also increased exponentially. It is a pointer on the future direction of this crypto. This is one crypto that has the potential to hit double or even triple-digit valuations in the future. Such potential makes it easily one of the next big things after Bitcoin.
6. Shiba Inu (SHIB)
The crypto market, like all markets, is not very rational. In most cases, it is the emotions of greed and fear that drive market sentiments. This is quite evident in the entire market price action at this point. In the last 48-hours, over $250 billion has been wiped off the market. This has been triggered by a series of tweets by some influential crypto players and has zero to do with market fundamentals.
On the flip side, the emotion of greed has played a major role in the recent rally. Several cryptos rallied by thousands of percentages without any significant change in their fundamentals,
One thing that these two emotions have created in the last crypto rally is an appetite for low-cost cryptos that are trading in pennies. Investors are suddenly realizing that they can get Bitcoin-like gains by betting relatively small amounts of money. One of the biggest beneficiaries of this rush into penny cryptos has been Shiba Inu.
Like the rest of the market, it has crashed and is down by over 70%. However, the appetite for it and similar cryptos is high. At just a penny, one can accumulate millions of it with just $100 or less.
In the expectation of Dogecoin-kind returns, this crypto stands to draw in lots of investments once the market rebounds. If its recent gains are anything to go by, this is one crypto with the potential to give Bitcoin price gains within a very short time.
7. Tron (TRX)
Tron is another gem under $2 that has the potential for gains that would rival those of Bitcoin. There are a number of factors that give Tron the potential for exponential gains in the near term.
Firstly, Tron has overcome the scalability problem that faces most platform blockchains. Not only are Tron transactions fast, but they are also very affordable. The scalability of Tron has seen it become the favourite blockchain for Dapps. Since it launched on its own mainnet in 2018, Tron has seen an explosion of Dapps, especially those related to gambling and other forms of entertainment. The amount of Tether USDT issued on the Tron blockchain is also evidence of Tron’s maturity and a potentially key player in the fast-growing platforms blockchain market.
Secondly, Tron has the hype to back it up. Hype is so important in crypto because it helps a project stand out. In a market with thousands of projects, just having good technical fundamentals is not enough. Tron’s market hype is driven by its founder Justin Sun. Sun never misses an opportunity to put Tron on the map. In the recent NFT craze, he made a few big-money purchases. Sun also backed Wallstreetbets by announcing that he was buying $10 million of the stock. He also made headlines by paying millions of dollars to have lunch with Warren Buffet. All these factors have played favourably into Tron’s price action.
With its growing adoption and creative marketing, Tron is a project that has the potential for exponential gains long term. The fact that it is still below a dollar makes it easy for investors to accumulate and could add to the buying pressure long term.
8. Cardano (ADA)
Cardano is a project that holds lots of potential for absolute gains that could rival those of Bitcoin. It is a 3rd generation platform blockchain that makes the likes of Bitcoin, and Ethereum look like old-school technologies.
One of the most revolutionary aspects of Cardano is its Proof-of-Stake algorithm. Cardano runs on a protocol called Ouroboros that is scalable, secure, and decentralized. What makes Ouroboros unique is that it is built on peer-reviewed research and science philosophy. This means that everything about it is proven to work, as expected. This is a big deal especially when it comes to launching complex, high-precision decentralized applications. Ouroboros is also highly energy-efficient, a very important factor now that the world is looking for ways to tackle climate change.
Cardano also stands out for its low transaction costs. Costs are becoming a huge impediment to the implementation of Dapps on most blockchains. For instance, Ethereum transactions have become so expensive that it had to do the Berlin Fork as a stop-gap measure, before the full transition to Proof-of-Stake. Cardano does not have this problem. That’s because it operates in two layers namely the computational layer, and the transaction layer. The effect is that the network never gets clogged regardless of the number of transactions.
All of Cardano’s core features point to one direction; that it is one of the most secure and scalable platform blockchains in the market. It is many miles ahead of its key competitor Ethereum, which is still playing catchup. When such fundamentals combine with its relatively low price, it’s quite easy to see why Cardano is the next Bitcoin. Its rally from a few cents to over $2 before the correction is a pointer to its potential.
9. Vechain (VET)
Vechain is another crypto under $2 that has the potential for parabolic gains in the short term. One thing that gives Vechain its huge potential is its use case in the global supply chain. Vechain works by combining blockchain with RFID technology. When using Vechain, an item is given a unique identifier using an RFID device.
This information is recorded on the blockchain, and anyone can track its movement on the blockchain. This ensures integrity in the supply process. Vechain also has several other unique cases. For instance, industries prone to counterfeits can use Vechain to ensure that only genuine products hit the market. The fashion industry is one of those where Vechain could become a mainstay technology in the future.
Besides the attractive use case for the protocol, there is an incentive for investors to hold VET in their wallets. That’s because the more VET one owns, the higher the priority when it comes to using this blockchain. In essence, as the use case grows, so does the potential value of VET. Considering how valuable the global supply chain is, coupled with the global problem of counterfeiting, it becomes clear that the potential for VET to grow is pretty much limitless. This is one crypto that could easily go parabolic and beat Bitcoin gains by a considerable margin in the future.
All the above cryptos are low-priced, making it easy for investors to accumulate a huge chunk of them at a very low price. Considering that they also have strong fundamentals, the chances of them performing well over time are pretty high.
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