Cheap Crypto To Buy In August 2022

Last Updated July 26th 2022
11 Min Read

Penny cryptocurrencies (cryptos under $1) are a thing, and they're worth investing in. Many people who bought these coins became millionaires after the prices of these cheap cryptocurrencies went up exponentially in 2021. 

That said, market capitalization is a more important consideration in how valuable a cryptocurrency will be. The higher the market cap, the lesser its risks of a total collapse in value, especially in bear markets. 

As such, even when looking to invest in penny cryptocurrencies, it is best to consider the higher market cap ones. This lowers your risk of investing in shitcoins. 

The good news is that you've come to the right place if you are looking to buy cheap but high-quality cryptocurrencies. Any of the coins discussed below are potentially good investment opportunities. 

Quick reminder, though – this article does not constitute financial advice. Cryptocurrencies are a new and exciting asset class but don't invest in them without doing your research first. You could end up losing everything!

Cheap cryptocurrencies to buy

Top Cheap Cryptocurrencies To Buy Today

Investing in cheap cryptocurrencies is a very exciting and lucrative experience. However, not all cheap coins will offer you good returns on your capital. To improve your odds of success, here is a list of the best cheap cryptos to consider in August 2022. 

1. Shiba Inu (SHIB)

Market capitalization: $5.7B

Official website: shibatoken.com

Shiba Inu is a meme coin that hit the limelight in early 2021. Shiba Inu was created to take advantage of Dogecoin's popularity in 2020 but went on to outshine DOGE in gains. By the end of 2021, SHIB was up by over 40,000,000%, massively beating Dogecoin's 12,000% gains.  

While Shiba Inu's price growth has slowed down since January 2022, SHIB still has one of the most passionate communities in Crypto. The Shiba Inu team has also been hard at work, adding value to SHIB, including ongoing work to build a Metaverse. 

With all the work going into Shiba Inu at the moment, and the fact that it still has the hype factor, SHIB is a cheap penny cryptocurrency worth considering in 2022

For ideas on how high Shiba Inu can go, check out our SHIB Price Predictions.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Stellar (XLM)

Market capitalization: $2.6B

Official website: stellar.org

Stellar is a blockchain protocol that allows people to transfer money efficiently and cost-effectively. The network enables fast financial transactions with low fees in a decentralized environment. 

The fee for transactions on the Stellar blockchain is 0.00001 XLM, no matter how small or large your transaction may be. This makes Stellar transactions so much cheaper than other blockchains such as Bitcoin or Ethereum.  

As crypto adoption grows, transaction costs will be a key differentiator in competitiveness. Based on its cost structure, Stellar has an edge. 

XLM has also been shown to move in tandem with the market in the past. This makes it viable to buy cheap crypto as the market turns bullish again. 

Check out our Stellar Price Prediction for how XLM could perform going forward. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. The Graph (GRT)

 Market capitalization: $662M

Official website: thegraph.com

The Graph protocol is a way to query information from networks like Ethereum. Using The Graph, anyone can build open APIs and help make data more easily accessible for those who need it. 

As the adoption of blockchain technology grows and networks like Ethereum become more connected to daily living, data query services will become even more important. This means The Graph has a lot of potential for growth going into the future. As such, if you have a long-term view of the crypto market, The Graph is a cheap cryptocurrency to buy and hold. Its growth potential is huge. 

Here are our in-depth predictions for The Graph price. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

4. Ripple XRP 

Market capitalization: $15.9B

Official website: xrpl.org

XRP has been one of the most successful cryptocurrencies in recent years, and it's still reasonably priced. Due to its strong community, investing your money in XRP could give you great returns in the future.  

Besides its strong community, XRP adoption is on a growth trajectory which adds to its potential as a penny cryptocurrency to buy in August 2022 and hold long-term. 

XRP has proven to be one of the most resilient coins and continues trading as a top 10 crypto by market cap. That's despite lots of challenges over the last two years. While XRP is yet to retest it's all-time highs, keep an eye on it. 

To help you better understand XRP's potential, here are our Ripple Price Predictions on where it could go next. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

5. Dogecoin (DOGE)

Market capitalization: $8.16B

Official website: dogecoin.com

Dogecoin was the first meme coin to hit the market back in 2013. While it has been around for a long time, Dogecoin only took off in 2020 when Elon Musk started talking about it. Musk's hype around Doge saw its price rally by over 12,000% by May 2021. 

However, the hype has since died down, and Dogecoin's price is yet to retest the highs of May 2021. No one knows whether Dogecoin will retest its 2021 highs. However, with Elon Musk recently reaffirming his love for Doge and Tesla accepting it for payments, the future looks bright. 

While it is risky to bet it all on a meme coin like DOGE, it is undoubtedly a cheap cryptocurrency worth adding to a crypto portfolio in 2022.

Besides, you don't have to buy DOGE. You can always mine it. Use this Dogecoin mining guide to get started. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

6. Cardano (ADA)

Market capitalization: $15.8B

Official website: cardano.org

Cardano is a smart contracts platform created to tackle the weaknesses that emerged with Ethereum and other older blockchains. These problems are mainly around scalability and fees. 

Cardano solved these problems through its next-gen Proof-of-Stake algorithm called Ouroboros. Besides building such an advanced algorithm, Cardano's functionality has improved, and in 2021, it gained smart contract capabilities.

Thanks to its ease of use, and security, ADA is worthwhile cheap crypto to buy now. If you are interested in ADA, you can check out our Cardano Price Predictions for ideas on how high it could go. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

7. Vechain (VET)

Market capitalization: $1.66B

Official website: vechain.org

Vechain's ambition is to be the blockchain that can be used for anything from tracking meat and flower shipments all the way down to managing individual inventories in stores.

It is hard to ignore the Vechain project. The real-world use cases of this blockchain and its plans make it one worth considering for any investor looking to buy penny cryptocurrencies now

Despite its massive potential, Vechain carries risks like all other cryptocurrencies. That said, it is a high potential cheap crypto to consider now. You can use our Vechain Price Predictions to fine-tune your investment decision-making process. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

8. Chainlink (LINK)

Market capitalization: $2.95B

Official website: chain.link

LINK may be a little more expensive than the average penny cryptocurrency. However, compared to something like Bitcoin, it is a very cheap crypto. Despite the ups and downs of the market, LINK continues to maintain its position as one of the biggest cryptos by market capitalization, a pointer to its core strengths. 

Chainlink is a revolutionary project that will forever change the way we do business. It's not just about connecting blockchains; it also provides oracle services for off-chain data to get real-time updates from any source imaginable without having to build your own network of sensors. 

Since its launch, Chainlink has built dominance in the fast-growing smart-contracts oracles market. Its unrivaled market makes LINK one of the best cheap coins to buy now. While it has lagged the broader market for months now, it has good odds of growth long term. 

Check out out LINK price prediction for an idea of where it could go next.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

9. Terra (LUNA)

Market capitalization: $596M

Official website: terra.money

Terra is a blockchain that uses stablecoins to provide price stability. Terra was formed to leverage the price stability that comes with fiat money, with the benefits of blockchain technology such as censorship resistance. 

LUNA is Terra's native Cryptocurrency and has two functions. The first one is to act as a stabilizer for the stablecoins in the Terra ecosystem. The second one is as a governance token. 

LUNA is one of the first large-cap cryptocurrencies to retest its all-time highs since the rally of November 2021. Since LUNA trades in the overall direction of the broader market, it has good prospects as the crypto market grows. 

While it is not penny crypto, LUNA is massively cheap compared to the likes of Bitcoin and Ethereum. It's a high-potential cheap cryptocurrency to buy now and hold throughout 2022 and years ahead. 

Here are our Price Predictions for LUNA in 2022 and beyond.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

10. Polygon (MATIC)

Market capitalization: $6.09B

Official website: Polygon.technology

Polygons is an Ethereum scaling solution. As an Ethereum layer-2 scaling solution, Polygon takes the load off the Ethereum mainnet, thereby cutting on gas fees, and increasing transaction speeds. Polygon's MATIC token helps keep the network secure, while also acting as a tool for governing the network. 

With Ethereum now closer than ever to running as Ethereum 2.0, layer-2 solutions like Polygon will become more important than ever. Besides, Polygon is listed on major exchanges like Binance and Coinbase, which makes it easily accessible to investors. If you want to capitalize on cheap crypto to build wealth, Polygon is a good bet 

To give you perspective on Polygon's potential, here is our Price Prediction for MATIC.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

11. The Sandbox (SAND)

Market capitalization: $1.5B

Official website: Sandbox.game

Many people recently got to know of Sandbox, but it has been around since 2011. Sandbox is a virtual world with play-to-earn games, where players create, win, and trade digital collectibles in the form of NFTs

Since the value of SAND is directly related to interest in play-to-earn games within the Sandbox ecosystem, the future is bright for SAND. That's because there is growing interest in the Metaverse as big names in the corporate world take an interest in this space. Cryptocurrencies offer no guarantees, but if the potential for adoption is anything to go by, then Sandbox is worthy of cheap crypto to buy in 2022 and hold for the next five years. 

Check out our Sandbox Price Prediction on where SAND could go next.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

12. Uniswap (UNI)

Market capitalization: $4.85B

Official website: uniswap.org

Uniswap (UNI) is the native token of Uniswap, the largest decentralized exchange by volume. With DeFi on a growth trajectory and more people using decentralized exchanges to trade, the value of UNI will most likely go up going into the future. 

While UNI has dropped significantly from its last all-time highs, the growing adoption of Uniswap means that the token value will catch up as the broader market gains in value. It is this potential that makes UNI a highly undervalued penny crypto to buy now. 

Here is our prediction on how UNI could trade going into the future. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

13. Decentraland (MANA)

Market capitalization: $1.6B

Official website: decentraland.org

Decentraland is an open-source platform where users can create and play with virtual reality applications. Users can also monetize their creations as NFTs.

One of the top-selling digital products in Decentraland is virtual land, and it's acquired using MANA, Decentraland's native token. For every land that is bought, MANA is burned. 

Besides buying LAND, MANA is an essential asset for users on the Decentraland platform. You can use it to purchase whatever you want in their marketplace. These use cases, coupled with a growing interest in NFTs, make MANA a high-potential low price cryptocurrency to buy for 2022

Here are our in-depth predictions for MANA 2022.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro is one of the easiest platforms to use when buying cryptocurrencies. Follow our eToro guide, and learn how to buy any cryptocurrency fast and securely. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cheapest Crypto To Buy Today

Shiba Inu is one of the cheapest cryptos that you can buy today. Its price is incredibly low, and SHIB also has the potential to gain in value over time. 

Which Cryptocurrency Will Gain In Value In 2022? 

Cryptocurrencies are volatile investments. If you want to invest in one with the potential for big returns, look out for coins that respond well to movements in the broader market. Since the crypto market always goes through periodic bull rallies where most coins make new highs, cryptos that move in the overall direction of the trend have the potential for exponential growth. 

eToro – The Best Platform To Buy Cryptocurrencies

Open an account with eToro, deposit some funds with USD, and finally – buy cheap cryptos from just $10.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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