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Top 5 Cryptocurrencies Under $ 1

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The low prices of these coins attract some investors as they are often considered to have high growth potential. However, the market capitalization of a cryptocurrency is more important than the price per coin. Read more to learn about the best altcoins under $ 1 and how to invest in these cheap cryptocurrencies.

The best altcoins for less than $ 1

  1. Algorand
  2. Stellar Lumens
  3. VeChain
  4. Decentraland
  5. USD Coin

What are altcoins?

The term altcoin refers to any cryptocurrency other than Bitcoin, but the term is more often used to describe cheaper cryptocurrencies that are not as popular as Ethereum , Binance Coin, and Cardano .

Although many cryptocurrencies have different uses, some altcoins are simply copies of other cryptocurrencies on the market, making them poor investments in the long term.

Before investing in an altcoin, be sure to research the cryptocurrency. Some important aspects that you should consider before investing are: the members of the team behind the project, the number of coins issued, the use cases and the potential for future growth.

Market Capitalization vs. Cryptocurrency Price

As mentioned above, the market capitalization of a cryptocurrency is much more revealing of growth potential than the price per coin.

For example, Dogecoin is worth less than $ 1, but the coin has a market capitalization of more than $ 25 billion. This is due to the amount of DOGE in circulation; There are currently $ 129 billion of coins minted, and the supply of Dogecoin is increasing at a rate of 10,000 coins per minute.

Due to the high market capitalization and large supply in circulation, it takes a lot of capital to drive the price of coins like DOGE up.

For the asset to double in price, the market cap would need to increase by about $ 25 billion, while a coin like Decentraland (MANA) would need a mere $ 1.2 billion increase in market cap to show a similar performance.

The best altcoins for less than $ 1

Our picks for cheap cryptocurrencies under $ 1 are based on fundamentals, growth potential, and the teams behind the project.

For these reasons, you won't see coins like Dogecoin or SafeMoon on this list. These currencies are purely driven by speculation, making them riskier investments than fundamentally strong projects with real-world use cases.

Algorand

Algorand (ALGO) is currently trading at $ 0.86. The cryptocurrency has a relatively large market capitalization of $ 2.8 billion, which places it in the top 50 cryptocurrencies by market capitalization. Algorand supports smart contracts on its proof-of-stake network , enabling faster and cheaper transactions than Ethereum.

Stellar Lumens

Stellar Lumens (XLM) is the largest cryptocurrency on our cheap cryptocurrency list, with a market capitalization of more than $ 7 billion. The coin is currently trading at $ 0.30, although its all-time high price exceeded $ 0.80 per coin. Stellar Lumens works with banks to process cross-border transactions with extremely low transfer costs. The protocol is similar to Ripple (XRP), and has gained the attention of investors following recent lawsuits against its biggest competitor, Ripple.

VeChain

VeChain (VET) offers supply chain solutions using blockchain technology . The token is currently trading at around $ 0.10 and has a market capitalization of about $ 7 billion. VeChain improves supply chain efficiency, transparency and security by offering strong incentives over traditional supply chain management systems.

Decentraland

Decentraland (MANA) is the token that powers the blockchain- based virtual reality game Decentraland. The game allows users to buy, sell and monetize virtual reality land. Some properties in the game have sold for more than $ 1,000,000. MANA is currently trading at around $ 0.75, and the project has a market capitalization of more than $ 1 billion.

USD Coin

USD Coin (USDC) is a stablecoin , so you won't get a return on your investment unless you put your USDC to work. However, this is the least risky way to invest in cryptocurrencies, and you can still get a decent return. The stablecoins as the USDC can be used with platforms DeFi as Compound and Aave, allowing you to earn nearly 10% annual interest on your investment in stablecoin .

You can buy USDC, Decentraland, Algorand, and Stellar Lumens on Coinbase. To get VeChain, you will have to create an account with Binance which may take a while to be approved to operate.


The best altcoin pick below $ 1

Out of all these cheap cryptocurrencies, our pick for the best altcoin under $ 1 is Stellar Lumens (XLM) .

XLM not only has strong backing, it is an established cryptocurrency since 2014.

With the recent scrutiny regarding Ripple (XRP), Stellar has the potential to take over the market for cross-border funds transfer.

As each transaction costs less than a penny of USD, the platform offers a cost-effective solution to make your payments. Additionally, Stellar has partnered with IBM to facilitate the adoption of its cryptocurrency by large banks.

 

 

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