The process of buying cryptocurrencies is pretty simple. However, purchasing the right cryptocurrency without a time-tested strategy can pose a fair challenge.
Presently, there are over 15,000 cryptocurrencies in existence, and the field is ever-expanding. With all the benefits that cryptocurrencies provide, people have become more enthusiastic about investing in this emerging asset class. However, picking the most profitable ones amongst the crowd can become a mighty task. To make the investment process simple for you, here are the 3 cheapest cryptos you can buy that actually have the potential to soar in the future.
Cardano (ADA)
Cardano (ADA) is known to be a third-gen blockchain that is available to the overall population alongside being a dApp advancement platform. Third-gen cryptocurrencies take examples from first and second-gen digital assets and enhance upon their constraints.
Consider Bitcoin to be Crypto 1.0. It is effectively digital gold, but scaling concerns plague the system. Ethereum is often referred to as Crypto 2.0. Cardano, introduced in 2017, is Crypto 3.0, adding capabilities that Ethereum originally lacked.
Charles Hoskinson is a co-founder of both Cardano and Ethereum. In 2014, he parted ways with the Ethereum team and launched Cardano, a more scalable, interoperable, and sustainable blockchain, intending to improve upon Bitcoin and Ethereum.
One of the most prominent complaints of Bitcoin and other cryptocurrencies is that their blockchain networks, built on proof-of-work consensus processes, waste tremendous energy. Cardano has a consensus process based on proof-of-stake, making it a more durable and scalable blockchain. It is one of the most eco-friendly blockchain technologies. Hoskinson said in a 2021 interview with Forbes that Cardano is 1.6 million times more energy-efficient than Bitcoin.
In addition, the network can perform more than 250 transactions per second (TPS), compared to around 4.6 TPS for bitcoin and 15 to 45 TPS for Ethereum. Consequently, this decline might be a good opportunity to lock in your Cardano (ADA) investments.
Cardano (ADA) printed an all-time high of more than $3, and the project has the potential to reach or surpass this price point. At the time of writing, ADA is trading at a very affordable price of $0.44, making it one of the 3 cheapest cryptos you can buy that actually have the potential to generate sizable profits.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polkadot (DOT)
Polkadot is somewhat of a new player among the vast population of digital assets. But that does not stop the platform from gaining tons of traction, especially in recent months. Intending to integrate various blockchains, it has continuously benefited from any boom due to its interconnectivity.
It is a blockchain-based open-source technology developed by the Web3 Foundation. The foundation is committed to creating an open-source, decentralized web that is user-friendly and fully functional.
In recent years, the platform has acquired massive growth, becoming a top high-performing crypto asset in the past year. This is accredited to Polkadot’s delivery of several trading tools and advanced tech to the crypto space. The native token DOT has already witnessed impressive growth in the past year, and crypto experts are anticipating another great run.
Another contributing factor to DOT’s value spike is its blockchain development. To be more precise, the expansion of their DeFi sector is considered a massive milestone for the team. Furthermore, many tech-savvy people continue to migrate to this blockchain as they launch their own crypto projects via the platform. Therefore, the project has successfully captured investors, traders, and developers alike.
While the platform is not as well-known or popular as Bitcoin, there is much anticipation for the success of Polkadot from investors and experts alike. Given its current value of $6.95 (down from its all-time high of $55), experts believe DOT to be one of the 3 cheapest cryptos you can buy that actually have the potential to skyrocket.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Decentraland (MANA)
If you have been keeping up with the digital world, you would have heard about the metaverse. While the metaverse is not new, it has only recently achieved its groundbreaking potential. Many developers have seen the limitless potential that exists in the metaverse and tried to take advantage of it. As the metaverse gradually makes it into different fields of life, the cryptocurrency world hasn’t been left out. Today, Decentraland is one of the largest metaverse platforms with a market cap worth billions of dollars.
Developed in 2017 by Esteban Ordano and Ari Meilich, Decentraland is a metaverse platform that allows users to interact and explore a virtual world. In the metaverse, crypto users can access a virtual 3D world with various customizable activities, in-game items, art, and land.
It aims to incentivize users to be a part of a shared virtual world. The most exciting feature of Decentraland is that it allows users to purchase virtual land (a form of digital real estate). There are two major tokens in this virtual platform; MANA and LAND. MANA is the native token of the platform, and LAND is an NFT token that defines ownership of digital real estate.
While the value of MANA has fluctuated since its inception in 2017, it has seen a significant increase in 2021, following the overall trend of increased interest in cryptocurrency. However, it has not been immune to the crypto crash that occurred in mid-2022. Despite this setback, Decentraland (MANA) remains one of the giant NFT coins out there.
MANA is currently valued at $0.76, marking an excellent investment opportunity. This also makes the growing metaverse token one of the 3 cheapest cryptos you can buy that actually have the potential to grow immensely.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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