Cheap Crypto to Invest In: 3 Tokens to Hold for the Long-Term

Cryptocurrencies have hit a major lull since those record highs in 2021. Bitcoin, for instance, has been hovering around 70% off its all-time high. Same goes for Ethereum. As these two coins go, so do most other coins. And that means there is a lot of cheap crypto to invest in right now.

That being said, just because a coin is cheap, doesn’t mean it’s a good investment. That’s why the cheap crypto to invest in that we’re highlighting has an important qualifier. Namely, that it has a good use case. And this is why we’ll be looking at three tokens native to the blockchain they help power.

Now, blockchain technology can be used by institutions, governments and even private enterprises. Its decentralization, transparency and automation can be applied to all sorts of industries.

Decentralized finance (DeFi) gets a lot of attention because it helps shift away from the need for traditional financial systems towards peer-to-peer finance. This is helping to create a new standard for financial access and opportunity. But there are so many uses in the making…

It can help track and protect digital content while also helping to distribute it. Blockchain tech can streamline data verification, claims processing and reduce processing time significantly in the insurance industry. It also helps provide banking services to the otherwise 1.7 billion unbanked people around the world.

Furthermore, blockchain-based healthcare systems that are being developed can revolutionize data management and supply tracking. This is likely to have a significant role in improving patient care and safety.

This is just a small sample of the use cases that we’re likely to see in the near future. Next, we’ll jump into the tokens that will help make it possible.

Cheap Crypto to Invest In Now

By far, the most popular blockchain is Bitcoin. This makes perfect sense since the coin that powers it is also the most sought after. But at almost $20,000 a coin, it’s hard to consider it a cheap investment – even though you can buy small fractions of a coin at a time. However, Bitcoin is far from the only blockchain paving the way for the next digital revolution.

The first coin on our list has been around for quite some time. But the nimble platform it powers and its staying power makes it one of the best cheap crypto to invest in before its use cases begin to grow.

Tezos (XTZ)

XTZ helps power a decentralized computing platform. It uses the popular (and more energy efficient) proof-of-stake consensus. It also features formal verification and the ability to allow stakeholders to vote on changes. Formal verification lets developers verify their code – just in case you were wondering.

Another plus is that Tezos holders that stake their holdings receive XTZ tokens as a reward in exchange for creating and verifying blocks on the blockchain. And again, Tezos is far from one of the new kids on the block. It’s been in development since 2014. In that time it has become a favorite platform for decentralized apps (dApps), smart contracts and NFTs.

But what we really like about Tezos is that its platform supports an upgradable protocol. This allows it to adapt to new future use cases for its growing list of modular software clients. Its platform has also undergone routine upgrades. Of late, these upgrades have improved the performance and size limit of smart contracts.

All of this leads us to believe that Tezos is going to be around for a long time. And at less than $2 a coin, it’s definitely worth considering this cheap token to invest in for your portfolio.

EOSIO (EOS)

Next on our list of cheap crypto for long term investments is EOSIO (EOS). It was launched as an open source project in 2018. It first made its mark for holding the largest ever initial coin offering. More than $4 billion was raised in the process.

But what we like about this project is its straightforward nature. It was designed to imitate the performance of a real computer. And the software itself uses some familiar computing concepts in its operations. This blockchain is powered by bandwidth, processing power and state storage – which is used to store data. And EOS is needed to purchase these resources on EOSIO. This means developers must buy EOS to run the dApps they launch.

Furthermore, the EOS token was designed to support large-scale applications. And there are no fees associated with sending or receiving EOS. This is done by rewarding those that help run the network with new EOS tokens instead of charging transaction fees.

But beyond these positives, its consensus mechanism provides better performance than some older networks. The token also affords a governance feature for holders to vote on platform changes.

Its blockchain is fast and it’s ideal for deploying dApps. All of this is why more than 400 of them have been launched. Some of their uses have benefitted identity management, supply chains and the gaming industry. But it has also been deployed in the healthcare and DeFi areas.

All of these use cases mean that EOS has earned its place in the crypto-sphere. And at around $1 a token, it’s certainly a cheap crypto to invest in.

Best Cheap Tokens to Invest In: The Bottom Line

Crypto markets have largely been flat of late. And historically they’re way down. But this presents a buying opportunity. A whole lot of tokens are trading at a discount right now. But we think these three cheap cryptos to invest in have strong enough use cases to keep them relevant for years to come.

That being said, these aren’t those moonshot tokens you’ve read about. These aren’t going to produce wild overnight gains for investors. But for those with a little patience, we like what these three coins bring to the table.