While most investors will invariably make a beeline for the top cryptos today, it may not be completely unwise to look at the relatively budget-friendly alternatives. As more and more companies start embracing cryptos as legal means of payment, it is probably a good time to look for the so-called “cheap” cryptocurrencies.
The word “cheap” however is completely subjective; what is cheap for one investor may not be cheap for another. The only obstacle to investments is the limits set up by cryptoexchanges. For instance, Coinbase allows a $2 minimum worth of investment, and this means you are free to buy any crypto even if that is as low as $2 on that exchange. Moreover, for a crypto like Bitcoin, you can buy a fraction of it, instead of the whole Bitcoin. Each unit is called a satoshi, and given the spectacular rise in Bitcoin’s value, owning even a satoshi can be profitable. Automated trading robots, on the other hand, are boosting bitcoin trading and increasing profitability. The effectiveness of bitcoin trading is improved by the right application of strategies and the analysis of marketing trends. Visit https://coincierge.de/bitcoin-buyer/ to discover more about bitcoin robots.
Another easy way to identify a “cheap” crypto is to identify a coin which is undervalued. This indicates it trades lower than what its perceived value is. But this is easier said than done. The Bitcoin has been surpassing all other cryptos in the last few months and experts feel its bullish run will continue. If the coin were to hit $100,000 as some experts predict, then one can consider it to be a cheap currency at the moment. Here are some of the cheap cryptos which you can consider including in your portfolio:
- Ethereum (ETH): Ethereum has always been second only to the Bitcoin in terms of market capitalization. It is one of the leading cryptos and investors would probably find far cheaper coins than the Ethereum. But, one should not disregard its potential for growth. The Ethereum is founded on a blockchain technology that impacts ICOs and is the main force behind dApps. So, Ethereum has successfully moved beyond payment solutions. While the Ethereum may not be a cheap crypto per se, its value is growing faster than any other coin. So, buying it may actually be more profitable than you thought.
- Chainlink: The technology behind Chainlink lets it be a connector between off-chain external resources and decentralized networks. So, it lets dApps access off-chain data. Any entity which connects those operating on blockchains with off-chain data needs to be trusted by developers and Chainlink has been successful in acquiring this trust. It is still a cheap crypto which should be explored as an investment option.
- EOS: This was touted to be the Ethereum killer because of its impressive scalability. The Ethereum network currently has more than 100 dApps and thousands of others depend on this. So, the ESO may not have eliminated the Ethereum but has successfully created a niche beside it. This smart contract platform can run millions of transactions every second and eliminates transaction fees. EOS offers secure access, permission, use control, data hosting, and dApp-to-web connectivity.
- Fusion: The value of this crypto hasn’t skyrocketed although it managed to have a bullish run after Bitcoin came into the limelight in 2018. But its value has remained steady and it runs a Proof-of-Stake algorithm. Fusion has also launched smart contract features and an NFT-management system that talks about the best upcoming NFT drops. It even has plans to create cross-chain ecosystems for enabling transfers between blockchains.
- SafeMoon: This is a speculative crypto which can soar in value if lands on key cryptoexchanges. This crypto penalizes sellers and rewards holders. For instance, those selling off their stakes in it will be hit with 10% penalty tax. And half of this is given to the holders.