Bitcoin typically tops all investment discussions, along with Ethereum (ETH) and other top ten assets like Solana (SOL) and Avalanche (AVAX). While these coins are well known in the crypto world, there are others, lesser-known, that can be had for pennies and have just as much potential as investment opportunities and blockchain projects in general.
Altcoins under $1
In this post, we’re going to look at five of the best cryptocurrencies that can be bought for less than a dollar. We haven’t listed them in any particular order because each project has its own merits and potential for success. It’s up to you, the investor, to research which projects pique your interest and decide whether or not to invest in them.
Much has already been written about Bitcoin and ETH. Today we take a look at five altcoins that are flying under the radar.
Stellar is a blockchain protocol and lumens are the tokens used to process blockchain transactions. The project has gained popularity in the cryptocurrency community due to its fast transaction speeds and low fees. Stellar’s transaction fees are so low that it has great potential for micropayments. Stellar is in the top 30 in terms of market cap and still has plenty of room for growth.
Stellar, a direct competitor to Ripple, is targeting individuals rather than large financial institutions, which may be better suited. Stellar offers an inflation pool reward of 1% per year to hedge against inflation.
The goal of VeChain (VET) is to support the tracking of physical items throughout the supply chain. By combining blockchain technology with physical hardware attached to the goods, VeChain intends to increase transparency regarding the origin of the products and their journey to their final destinations.
VeChain uses a proof-of-authority consensus mechanism and holders can stake their VET in exchange for VeThor Token rewards (VTHO). VTHO is used to run blockchain calculations and processes. VET currently ranks 34th in terms of market capitalization.
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Hedera (HBAR) is a public network that uses Hashgraph, a new distributed ledger technology (DLT). The data is stored in hashes rather than blocks, but they work in a similar way to a blockchain. Transactions in Hashgraph are verified using a virtual voting and gossip log.
HBAR, the Hedera Network’s own cryptocurrency with a maximum inventory of 50 billion, is energy efficient. HBAR is used to compensate network nodes for storage, processing power, and bandwidth for each transaction.
Since Hedera uses proof-of-stake consensus, HBAR is also used for weighted voting and network protection. This means that a malicious actor would need to own a third of the entire supply to maliciously influence the consensus, which will be impossible for the first five years.
Hedera currently ranks 38th in terms of market cap and trades for around 22 cents a share. It peaked at more than 50 cents in September 2021.
SHIBA INU (SHIB) is an ERC-20 token that aims to be a direct competitor to Dogecoin (DOGE) and the top meme token on the market. SHIB developers are trying to create a meme token with utility by developing ShibaSwap, a decentralized finance (DeFi) platform for the token that allows holders to stake into other SHIB-related assets.
Note: Shiba Inu recently surged 19% when it was announced that the token would be listed on Robinhood.
SHIB’s inclusion in this post is due to strong community support rather than technical merit. Technically, the SHIB Coin is nothing special, but the community support is so strong that it has made it a well-known and accessible asset for many different types of investors. SHIB currently trades for well under a penny per share and ranks 15th in terms of market cap.
It should be noted that meme tokens such as SHIB and Dogecoin are not generally viewed well in the crypto community, despite the fact that Elon Musk and Mark Cuban are big fans.
Still, crypto is a rapidly evolving industry and one should not limit oneself to cryptocurrencies that cost less than $1 per token. Especially since the price also depends on the number of tokens issued.
As always, we are making this post available as educational content. This is not financial advice and the cryptocurrency market is extremely volatile. Do your own research and never invest more than you can afford to lose. That being said, we believe these five projects are promising at the current valuation and have the potential for profit.