Cheap Cryptocurrency: Five Coins You Can Add to Your Wallet Today
When it comes to a cheap cryptocurrency, there are a couple of ways to look at it. And keep in mind, the term “cheap” is always relative.
Whether you’ve got five bucks or $5 million, just about any cryptocurrency is within reach. The only barrier to entry is typically established by the crypto exchange you’re using. One of our favorite exchanges, Coinbase, has a $2 minimum. That means you can purchase or sell as little as $2 worth of any cryptocurrency on that exchange.
For the most part, what this means is you don’t have to buy a whole coin. Not by a long shot. Take Bitcoin, for instance. Each Bitcoin is made up of 100 million “satoshis.” A “satoshi” is the smallest fraction that a Bitcoin can be broken down into. So as long as Bitcoin is trading for less than $200 million per coin, you can pick up a fraction of it for less than $2.
Safe to say you’d be hard pressed to find anyone who wouldn’t consider $2 a pretty cheap investment…
However, the other way to classify a cheap cryptocurrency is to find one that’s undervalued. In other words, it’s trading cheaper than its perceived value. Now, finding an undervalued crypto coin can be a trickier endeavor. But as we’ve seen the past couple of years, Bitcoin has been outperforming most asset classes. And that’s despite the fact that most cryptos have been pretty stagnant in 2022.
Will Bitcoin actually hit $100,000 a coin this year, as some forecasters predict? Nobody knows for certain. But it is within the realm of possibilities. And if it does, that would certainly qualify Bitcoin as a cheap cryptocurrency right now.
But for our purposes, we’re going to look at five altcoins that have a whole lot more room for growth…
Five Cheap Cryptocurrency Coins Ready for Your Wallet
- Ethereum (ETH)
- Chainlink (LINK)
- EOS (EOS)
- Fusion (FSN)
- Bitgert (BRISE)
Bitcoin’s Closest Rival
We’re starting our list with the second-largest crypto coin by market cap. Ethereum is also probably one of the better-known cryptos out there. Those looking to make a cheap cryptocurrency play could certainly find cheaper alternatives. But Ethereum’s growth potential shouldn’t be ignored. Its blockchain tech plays a vital role in initial coin offerings. And it is one of the biggest drivers behind decentralized applications. Unlike Bitcoin, Ethereum has moved well beyond the financial sector. If you’ve heard or read about any non-fungible tokens (NFTs), they were likely part of the Ethereum blockchain.
But again, Ethereum isn’t cheap. In fact, it’s one of the more expensive coins out there. However, its value has been outpacing Bitcoin’s. And later this year, we’re expecting to see ETH 2.0. This is worth noting because it marks the end of the Ethereum energy-hungry Proof-of-Work consensus. This is when Ethereum finally moves to a greener Proof-of-Stake mechanism.
Because of this, we think Ethereum is likely trading at a discount. That’s why, despite its current price, Ethereum still deserves a spot on this list of cheap cryptocurrency coins.
Connecting Two Different Worlds
Chainlink is another crypto that hasn’t put all of its eggs in the financial basket. And that’s likely to keep it important for years to come. As its name suggests, the technology developed by Chainlink allows it to act as a connector between decentralized networks (those on a blockchain) and off-chain outside resources. This is a pretty big deal because it allows decentralized applications (those operating on Ethereum, for instance) to access off-chain data.
Any outfit that’s connecting those working on a blockchain with off-chain data requires trust from developers. And Chainlink has earned that trust so far. As blockchain technology is becoming more widespread, Chainlink likely won’t remain a cheap cryptocurrency for long. It’s currently trading for less than $13 a token. But within the next couple of years, we expect it to return to its high water mark around $50 a token.
Not Quite the Ethereum Killer
When the EOS coin first came out, it was touted as a big threat to Ethereum. As the native crypto on the EOS.IO blockchain, it is hugely scalable. There are currently more than 100 decentralized apps on its network. And there are thousands who use and rely on it every day. While it didn’t quite kill off Ethereum, it has found a healthy niche right alongside it.
One of the most compelling elements of EOS is its ability to process 1 million fee-less transactions per second. The company has also scored some high-profile partnerships, including the likes of Google. That alone is almost sure to keep EOS rising along with other cheap cryptocurrency tokens.
A Cheaper Entry Point
Back when Bitcoin was the talk of the town in 2018, Fusion made a decent splash of its own. However, during the crypto bull run last year, Fusion has remained pretty steady. That is to say, its value didn’t rise much. This is despite the fact that Fusion has been steadily ticking all the boxes on its to-do list.
Fusion has established its ticketed proof-of-stake algorithm. The company has rolled out its smart-contract features. It’s also introduced an NFT-management system. And going forward, it has plans to develop a cross-chain ecosystem to support transactions between blockchains. If Fusion can crack the code on this, that could make it a household name. And that’ll result in Fusion quickly being ushered off any cheap cryptocurrency lists.
The Penny Crypto With Lots of Potential
Any investment has some element of speculation to it. But Bitgert crypto is a bit more speculative than most. Nonetheless, we’ve decided to include it on our list due to all of the well-deserved interest it’s already garnered. And this is despite the fact that it’s not on a lot of the major exchanges. So, should it land on some of the major exchanges, Bitgert could skyrocket in value.
One of the more interesting elements of Bitgert is its revolutionary blockchain tech. In fact, it could be the most disruptive blockchain to date. It charges virtually zero gas fees ($0.0000000000001 per transaction). And it’s able to process an astounding 100,000 transactions per second. That’s more than most of the other major blockchains combined.
On top of its lightning-quick blockchain there is also the BRISE decentralized exchange. This exchange, built on the Binance Smart Chain, is intended to be an alternative to PancakeSwap. This exchange is actually one of the projects that we’re most excited about. Don’t get us wrong, PancakeSwap serves its purpose. But it can be glitchy. So we’re happy to see some competition that could help better the user experiences all around.
Bitgert is far from a sure bet. But it certainly qualifies as a cheap cryptocurrency. And based on the laws of supply and demand, continued interest in SafeMoon could send it upwards fast.
The Bottom Line on Cheap Cryptocurrency
The old saying “You get what you pay for” doesn’t really apply to cryptocurrency. It’s all ones and zeros on a server somewhere. But as interest grows and cryptos become more mainstream, those ones and zeros could add up to a serious chunk of change.
We already know the Fed is exploring a digital dollar. Big banks are offering crypto access to clients now. And there are even crypto ETFs out there. The journey of cryptocurrency into the mainstream has just begun. And these cheap cryptocurrencies could turn a healthy profit once they get there.
About Matthew Makowski
Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about the markets for 20 years. Equally comfortable identifying value stocks as he is discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since honed his focus on the cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dogs Dorito and Pretzel.