It’s no secret that the crypto market has been under pressure in 2022 and 2023. Compared to the bull market of 2021, many investors have found their portfolio growth underwhelming, or worse, at a loss. However, there is a silver lining: many cryptocurrencies are now exceptionally cheap.
Cheap cryptos are ideal for those on a limited budget and looking to load up before the next bull run. As you’ll see, many on this list are well below their 2021 highs, while some have everything to gain and little to lose.
Choosing these projects required in-depth research and carefully weighing up some key factors. The 11 selected are unique, each with a compelling investment case that starkly contrasts their current prices. Stay tuned: some underrated gems here could soon be making headlines.
List of the best cheap cryptos
Memeinator: The Terminator of meme coins
Shiba Memu: A meme coin ready for an AI-led future
Chancer: Shaping the future of betting with peer-to-peer wagering
Chainlink: Bridging blockchains with the real world
XRP: A favorite of financial institutions
Toncoin: One of 2023’s fastest risers
NEAR Protocol: An accessible layer-1 network for all
Cardano: An academic approach to blockchain
Shiba Inu: Dogecoin’s most potent rival
VeChain: Blockchain technology custom-built for enterprise
The Graph: The data layer of Web3
Analyzing the best cheap cryptos
If you’re wondering why undervalued cryptocurrencies are worth your attention, just consider this: Bitcoin started life in 2009 at $0.0009. 11 years later, it clocked an all-time high of $68,789. Ethereum’s story is much the same—its all-time low in 2015 of $0.432979 seems minuscule compared to its high of $4,891 in 2021.
This article highlights the gems that could one day offer similar returns. However, they weren’t randomly selected: their use cases, long-term market potential, and existing/prospective community sizes were evaluated, amongst others.
In this list, you’ll find projects spanning a broad range of sectors, from layer-1 networks and mega-caps to meme coins and enterprise-grade solutions. Let’s get started.
1. Memeinator: The Terminator of meme coins
Memeinator isn’t the average meme coin. It’s on a cutthroat mission to surpass the subpar meme coins offering zero utility that clog up the crypto market, all while on a quest to achieve a massive $1 billion market cap. Instead of relying on bad jokes or obtuse memes, Memeinator is leveraging the nostalgia of ‘90s action movies and using cunning marketing to create a loyal grassroots following, aiming for nothing less than total dominance of the meme coin market.
Why is Memeinator one of the best cheap cryptos to buy?
The mission behind Memeinator is simple: clean up the meme coin landscape of the worst offenders and grow to a whopping $1 billion market cap, eventually surpassing leaders like Dogecoin and Shiba Inu. It’s an incredible idea: create a resistance movement of investors fed up with the status quo and turn the tide on the meme coin market.
To get there, Memeinator is throwing in some exciting features. A game will be developed; playing as the Memeinator, the Meme Warfare game allows players to obliterate inferior meme coins in hilarious, chaotic ways. The game stays fresh thanks to Memescanner, an AI tool that scours the Web and updates the in-game universe with trending meme coins.
Beyond this interactive experience, Meminator promises high-yield staking rewards, quarterly token burns, and a highly collectible NFT drop. Perhaps most exciting is Memeinator’s 7.5% token supply allocations to competitions. How about a trip to space with Virgin Galactic? That should give an idea of the project’s sky-high ambitions.
The presale began on 27th September and has generated significant buzz in underground crypto communities. Since its launch, the MMTR presale has raised over $675k and is currently in stage 3, worth $0.0112. Spread across 29 stages, MMTR will rise from $0.01 to $0.049 by the last phase.
This exceptional presale trajectory, combined with the vast potential of Memeinator, places MMTR as one of the best cheap cryptos to invest in for 2023 and beyond.
What are the risks?
Similar projects have struggled with delivering on objectives like game releases and bold market cap targets. But Memeinator has a lot of cards to play, and if Memeinator plays them correctly and continues at the current momentum, it could bode well for long-term success.
>>> You can find more information, including how to buy MMTR, by visiting the official Memeinator website <<<
2. Shiba Memu: A meme coin ready for an AI-led future
Today’s crypto market is packed with meme coins vying for attention. But Shiba Memu is an outlier, so much so that it could revolutionize crypto marketing. While many meme coins rise and fade away in the hype cycle, Shiba Memu brings cutting-edge AI to the table to create and sustain engagement.
Why is Shiba Memu one of the best cheap cryptos to buy?
Shiba Memu employs AI to scan the internet 24/7, constantly looking for opportunities and strategizing behind the scenes. Powered by next-generation AI technology, it can market itself with minimal human intervention. It takes vast swathes of data to optimize and deploy marketing strategies.
This approach allows Shiba Memu to craft expert press releases, create witty social media posts, and even engage with investors directly. So, while most meme coins ride the volatile waves of community hype, Shiba Memu is steadier. Its AI algorithms allow it to tailor its content to the current market sentiment and predict upcoming trends, preparing to capitalize on them and drive more attention to the SHMU token.
Along the way, Shiba Memu learns and evolves, constantly developing ways to outsmart the competition. And this vision has caught the eye of investors already. Since its launch in June, the SHMU presale has raised a tremendous $3.7m.
Due to overwhelming community demand, the presale was extended by an additional 60 days. Why? To let other investors benefit from the daily price increases of $0.000225. These price hikes will propel SHMU around 240% throughout the presale. It’s currently worth $0.033175, up 198.20% from its initial price of $0.011125.
The buzz around Shiba Memu is expected to grow with its upcoming BitMart listing. Many investors are excitedly waiting, speculating that SHMU is set to explode once it becomes publicly available, making it one of the best cheap cryptocurrencies to invest in today.
What are the risks?
Meme coins can be volatile, and Shiba Memu could see such volatility in the months that follow its launch. The rapid advancements in AI technology also mean the team must stay agile to maintain its competitive edge.
3. Chancer: Shaping the future of betting with peer-to-peer wagering
Chancer offers something refreshingly straightforward: fun in a space often defined by buzzwords and technical jargon. This peer-to-peer (P2P) social betting platform aims to revolutionize the centralized betting industry by making the experience more transparent, fair, and engaging. Built on the Binance Smart Chain, Chancer aims to reshape how online betting is viewed.
Why is Chancer one of the best cheap cryptos to buy?
Chancer’s innovative P2P model is its crowning jewel. Users can create predictive markets for nearly anything that has a verifiable outcome. From placing wagers on the result of the next Superbowl to betting your friend that you can do more press-ups than him, Chancer goes beyond simple sports events and opens up a new betting world.
But this model comes with additional benefits. Building on the Binance Smart Chain means it sidesteps the issues plaguing traditional betting spaces. For example, high fees, slow transactions, and murky transparency are a thing of the past.
Chancer goes as far as putting decentralization at the forefront of everything it does, Chancer’s future is in the hands of its users. Setting the standard straight out of the game, the founding Kelbie brothers, Paul and Adam, maintain a transparent relationship with their user base, directly engaging with them via social media.
The presale numbers highlight CHANCER’s potential as one of the best cheap cryptos. The ongoing presale has already amassed $2.6m, with CHANCER currently in its stage 3 priced at an attractive $0.012. And for early investors getting involved in the presale, they’ll have a chance of winning the platform’s ongoing giveaways. Top prizes include a jaw-dropping $100,000 CHANCER token prize and an all-expenses-paid trip to Las Vegas!
What are the risks?
Chancer’s low-price cryptocurrency is an enticing proposition, but the crypto-betting space is becoming increasingly competitive, and the existing dominance of centralized betting giants could pose challenges for this promising entrant. Only time will tell.
4. Chainlink: Bridging blockchains with the real world
Chainlink is a decentralized oracle network established in 2017 as a secure bridge between smart contracts and real-world data. Chainlink is increasingly cementing its status as one of the best cheap cryptocurrencies available today.
Why is Chainlink one of the best cheap cryptos to buy?
The versatility of Chainlink is undeniable. It serves various industries, from finance and insurance to supply chain management, offering secure and tamper-proof solutions. The technology behind Chainlink means its data is highly accurate and reliable — making it one of the most trusted partners of many leading crypto projects, like AAVE, Synthetic, Kava, and Polkadot.
Chainlink’s partnerships and integrations are massive. According to Chainlink Ecosystem, 1893 projects and 2210 integrations are currently working with Chainlink. Among these are high-profile names such as Google, Oracle, and SWIFT.
Chainlink recently signed a landmark deal with SWIFT to scale tokenized asset adoption. Even ANZ, one of Australia’s largest banks, utilized Chainlink to complete a cross-chain purchase of tokenized assets using A$DC, an ANZ-issued stablecoin tied to the Australian dollar.
Regarding the numbers, Chainlink looks like one of the best cheap cryptocurrencies to invest in right now. Just a few years ago, in 2020, it was priced at a humble $1.84. Fast-forward to 2021, and it rocketed to an astounding $52.88. Currently, Chainlink stands at around $8.10, recently boosted by the SWIFT deal. It seems that the LINK token will only grow from here.
What are the risks?
Chainlink may seem like a top cheap crypto to buy now, but every investment comes with risks. There’s the possibility that mainstream enterprises might bypass Chainlink by developing in-house custom oracles. This would hinder Chainlink’s widespread adoption and long-term growth. Moreover, with its integral link to many different cryptos, Chainlink’s performance is tethered to the fortunes of the broader crypto market, especially Bitcoin.
5. XRP: A favorite of financial institutions
When searching for low-price cryptocurrencies, XRP is often highlighted as one of the best. Launched in 2012 as the native token of the Ripple network, XRP was conceived as a quick, inexpensive solution for cross-border financial transactions. It was designed to outperform legacy banking systems like SWIFT in speed and cost.
XRP has been embroiled in a legal battle with the US Securities and Exchange Commission (SEC) since late 2020. However, a recent District Judge’s ruling in Ripple Labs’ favor has put it firmly back on investors’ lips.
Why is XRP one of the best cheap cryptos to buy?
The allure of XRP primarily lies in its fast and low-cost transactions. Settlements on the XRP network are complete within 3 to 5 seconds with minimal fees. This has led to adoption by major financial institutions, like MoneyGram, Santander, and Standard Chartered Bank—a powerful endorsement.
However, the technology underpinning this system, the XRP Ledger, has applications beyond financial transactions. From online gaming to asset tokenization and decentralized finance (DeFi), XRP is more versatile than many think.
Perhaps the most noteworthy development has been XRP’s recent legal victory. A US District Judge ruled that it isn’t necessarily a security, causing a substantial surge in its price. After reaching a low of around $0.15 in 2020, XRP spiked to a high of approximately $1.80 in 2021. Currently trading at roughly $0.5, the positive developments in the SEC case have set a promising stage for its future growth.
What are the risks?
XRP seems to be one of the most compelling cheap cryptocurrencies to invest in in 2023, especially after its recent victory. However, ongoing litigation against Ripple’s executives still present could affect XRP’s future. Issues of centralization and further regulatory action may also hamper XRP’s price growth.
6. Toncoin: One of 2023’s fastest risers
Toncoin is the native currency of The Open Network (TON), initially developed by the messaging giant Telegram and later taken over by the TON Foundation. Designed primarily for payments and dApps, TON has recently shot up the crypto leaderboards. It has quickly emerged as one of the premier cheap cryptocurrencies available in 2023.
Why is Toncoin one of the best cheap cryptos to buy?
The TON ecosystem is diverse, offering games, DeFi solutions, and decentralized cloud storage, amongst other exciting applications. Toncoin recently integrated with Telegram, offering immediate access to Telegram’s massive 800-million-strong user base. Its goal is to onboard 30% of these users within the next 3-5 years, allowing users to make in-app payments and securely store their cryptocurrency.
Toncoin has been one of the most notable risers of recent months. Its TON token went live in 2021, making a low of $0.39 and a high of $5.84 within the same year. However, this year, its market cap has surged to $7.1 billion, challenging Tron for the 10th spot among the most valuable cryptocurrencies. The recent integration of the TON Wallet with Telegram contributed to a significant price surge, setting the stage for considerable demand in the future.
What are the risks?
It’s hard to argue that Toncoin isn’t one of the best cheap cryptocurrencies to invest in in 2023. However, it’s essential to consider the risks. A significant part of its growth strategy is tied to Telegram’s user adoption, which, if hindered, could impact Toncoin’s value. Moreover, Toncoin has faced scrutiny from the SEC, and more could be on the horizon as the project grows.
7. NEAR Protocol: An accessible layer-1 network for all
NEAR Protocol is a layer-1 blockchain that aims to power the future of the decentralized web. Launched in 2020, it operates as a third-generation proof-of-stake (PoS) blockchain that currently processes around 1,000 TPS. It’s designed to compete with Ethereum, offering similar smart contract capabilities. However, its focus isn’t just on speed and scalability; it’s one of the most accessible and user-friendly blockchains.
Why is NEAR Protocol one of the best cheap cryptos to buy?
NEAR Protocol’s status as the best cheap cryptocurrency is partly down to its innovative sharding technology. Known as Nightshade, it can theoretically allow for transaction speeds up to 100,000 TPS. Notably, Ethereum has yet to implement sharding.
The other aspect is its user-friendly experience. NEAR offers human-readable account names and a smooth onboarding process for users. The platform supports a wide range of legacy programming languages, including Rust and Javascript, meaning it’s accessible to non-native crypto developers.
Most ambitiously, NEAR Protocol aims to onboard 1 billion users into the web3 space over the next five years. It also introduced the Blockchain Operating System (BOS) to ease the transition to Web3. BOS is an easy-to-use middleman for a seamless experience interacting with decentralized applications (dApps) on different blockchains.
After its mainnet debut in 2020, NEAR saw a low of $0.52 but skyrocketed to a high of $20.42 in 2021. Currently trading at $1.10, NEAR Protocol’s user-centricity and significant developments, such as a partnership with Binance plus the introduction of BOS, make it one of the best cheap cryptos to invest in 2023.
What are the risks?
While NEAR Protocol is promising, it faces competition from established blockchains like Ethereum and similar emerging alternatives. Moreover, it’s one of the newer projects, with its mainnet only launched in April 2020.
8. Cardano: An academic approach to blockchain
Founded in 2015 by Charles Hoskinson, a co-founder of Ethereum, Cardano is a third-generation, layer-1 network. It aims to address blockchain’s trilemma: scalability, interoperability, and sustainability. Today, it’s considered one of the best low-price cryptocurrencies, a potent threat to Ethereum’s dominance.
Why is Cardano one of the best cheap cryptos to buy?
Cardano sets itself apart with its rigorous academic and research-driven approach. Each feature or upgrade is peer-reviewed by experts, enabling it to be one of the only mathematically secure blockchains. This year, the network introduced Djed, a stablecoin that’ll turbocharge Cardano’s DeFi ecosystem, and Hydra Pay, a layer-2 solution that aims to accelerate transaction speeds vastly.
Hydra itself was a huge step forward for Cardano. Some anticipate it could be the big break Cardano needs since it could scale ADA transactions up to 1 million per second (TPS) while lowering fees further.
The ADA token, the native cryptocurrency of Cardano, is a great cheap crypto to buy, ranking in the top 10 most valuable cryptocurrencies at number 8. Before 2021’s bull run, ADA was worth roughly $0.10; at its peak in 2021, it soared to a massive $3.10. Cooling off to around $0.26 at the time of writing, ADA could deliver huge returns in the next market upswing.
What are the risks?
While Cardano is often touted as one of the best cheap cryptocurrencies, critics argue that Cardano’s meticulous approach might be its Achilles’ heel. While Ethereum rolled out smart contracts in 2015, Cardano only added that functionality in 2021. Some see this as a caution; others interpret it as sluggishness that could cost it market share in a field teeming with vibrant competitors like Solana, Polkadot, and Ethereum.
9. Shiba Inu: Dogecoin’s most potent rival
Shiba Inu has grown from being seen as just a Dogecoin imitator to becoming a leader of the meme coin market. With a storied history of unprecedented gains and a focus on building a utility-based ecosystem, Shiba Inu has risen above its meme coin origins to become one of the most unique projects in crypto today.
Why is Shiba Inu one of the best cheap cryptos to buy?
Shiba Inu can’t be overlooked regarding the cheapest cryptos to buy with the highest potential for returns. Unlike Dogecoin, Shiba Inu offers a broad ecosystem, thanks to it being built on the Ethereum network. This ecosystem includes multiple tokens, a decentralized exchange, an NFT collection, a play-to-earn (P2E) game, and a layer-2 scaling solution.
The community surrounding Shiba Inu, “the SHIB Army,” has been instrumental in driving the token’s adoption. Its Reddit community alone boasts almost 500k members.
It’s perhaps Shiba Inu’s historical performance that’s the most extraordinary. From a low of $0.00000000008165 in September 2020 to its peak of $0.00008845 in October 2021, the token’s value surged by 108,328,000%. Currently priced at approximately $0.0000074, it’s the lowest-priced cryptocurrency here—a $740 investment would make one a SHIB millionaire! As such, it ranks as one of the best cheap cryptos to buy now.
What are the risks?
Despite its utility as a meme token, Shiba Inu is somewhat more risky than other projects. SHIB has seen significant volatility, dropping over 90% from its all-time highs. Additionally, Shiba Inu is in the crowded meme coin market, and newer meme coins, like Memeinator and Shiba Memu, could offer more substantial returns.
10. VeChain: Blockchain technology custom-built for enterprise
VeChain is a pioneering blockchain platform specializing in supply chain management and business processing while concentrating on innovation, sustainability, and inclusiveness. Focusing on enhancing data transparency and accessibility for all stakeholders in the supply chain, VeChain has become one of the best-known enterprise-grade blockchains.
It effectively allows businesses to track vast quantities of data in a trustless, distributed environment. It is perhaps one of the most impressive use cases of blockchain technology.
Why is VeChain one of the best cheap cryptos to buy?
VeChain was one of the first blockchains made exclusively for enterprise-level applications. A complex system, including a dual-token setup, RFID tags, and Internet-of-Things (IoT) devices, offers real-time metrics for various data points. This detailed data streamlining is a godsend in healthcare and the automotive sector, where accurate, fast, and granular data is vital.
Its high-profile collaborations with firms like Walmart China, BMW, and PwC prove just how revolutionary this idea is. And its progress shows no signs of slowing: in September alone, VeChain partnered with AT&T, T-Mobile, and Verizon. VeChain also secured a significant patent for using IoT devices and blockchain technology for transportation data.
Price-wise, VeChain is an interesting prospect for those hunting for cheap cryptos to invest in in 2023. In 2020, its token, VET, touched a low of $0.002379 but soared to an all-time high of $0.2511. Although the current price is $0.017, VeChain’s strong enterprise focus and key partnerships could provide a backdrop for future appreciation.
What are the risks?
VeChain is a compelling investment opportunity. However, it faces stiff competition from other blockchain projects and established centralized tech giants like IBM and Amazon, which offer similar supply chain solutions. Additionally, VeChain’s business model, which is heavily focused on supply chain management, makes it susceptible to fluctuations in the global economy.
11. The Graph: The data layer of Web3
The Graph is a decentralized protocol designed to index and query blockchain data, making it easier for developers to build dApps and interact with the blockchain. The Graph organizes and serves this data through open APIs called subgraphs, meaning developers can access data quickly and efficiently—all at a relatively low cost.
Why is The Graph one of the best cheap cryptos to buy?
The Graph plays a pivotal role in the Web3 ecosystem by organizing large volumes of blockchain data into an easily accessible format. Multiple projects rely on The Graph: AAVE, Uniswap, SushiSwap, Decentraland, and more. The Graph’s network boasts over 45,000 projects and has serviced more than 1 trillion queries, highlighting the massive scale of this project.
This year, The Graph successfully transitioned to layer-2 scaling protocol Arbitrum, giving its native GRT token a significant boost and lowering barriers to entry with reduced querying fees. The GRT token exploded on its debut in late 2020, starting at $0.1214 and reaching a high of $2.88 just a few months later. Although GRT’s current value hovers around $0.091, its vast reach in the crypto space suggests it could surpass its all-time high in an emerging bull market.
What are the risks?
Investors often point to The Graph as one of the best cheap cryptos for 2023, but it’s crucial to be aware of the risks. Notably, GRT has fallen below its initial listing price. It is down nearly -97% from its all-time high, raising concerns about its stability. The project is notorious for having high entry fees for node operators, which could suppress future growth.
How we determined the best cheap cryptos to buy now
While there are many projects investors consider the best cheap cryptos to buy now, we took a selective approach. Multiple factors were weighed to compile this list, such as:
- Availability: Ease of purchase and trading on major exchanges ensures the crypto’s accessibility to investors.
- Market Capitalization: A healthy market cap suggests stability and a lower risk profile.
- Long-Term Utility: Projects were evaluated for their ability to solve real-world problems, ensuring long-term relevance.
- Underrated Prices: Cryptos undervalued relative to their potential were ranked higher.
- Recent Developments: Projects with on-chain developments were assigned more weight since they boost the token’s inherent value.
What to think about when investing in a low-price cryptocurrency
Investing in cheap cryptocurrencies can be highly profitable, but your chances improve with the proper knowledge. Here are several key considerations:
- Your Budget: Considering financial commitments, only invest what you can afford to lose.
- Risk Tolerance: Understand the level of volatility you can stomach and invest accordingly.
- Coin Use Cases: Investigate what problems the cryptocurrency aims to solve or how it stands to benefit its users.
- Security and Regulation: Ensure the chosen crypto complies with regulations and offers solid security measures.
- Liquidity: Check if the crypto can be easily sold or converted into other assets.
- Market Trends: Keeping an eye on the prevailing market trends can help you understand where the money flows.
The bottom line
In summary, these 11 projects emerged as the crème de la crème from the sea of low-price cryptocurrencies. The market appears to be undervaluing these promising projects, especially with many of their recent bullish developments. In the next bull run, these cheap cryptos could offer significant returns, though it’s essential to research each before making a decision.
For the best cheap cryptos to buy in 2023, take a closer look at:
- Memeinator
- Shiba Memu
- Chancer
The post Hidden Stars in 2023: The 11 Best Cheap Cryptos to Lock In Now appeared first on Analytics Insight.
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