You may be wondering about the title of my post. A title like “The Top 10 cheapest cryptocurrencies under one dollar for sick gains in 2023” would be already catchy enough for a post title, so why the “NOT” at the end?

Well, the answer is simple. You can not tell if a cryptocurrency is cheap or expensive just by looking at the price. Let me explain.

Is $10,000 For One Single Bitcoin Expensive?

I remember when I was talking to a friend about Bitcoin. After I explained to him the benefits of Bitcoin and why I believe that it is a good investment, he replied, “Maybe I should also buy a Bitcoin, how much costs one Bitcoin?”

At that time Bitcoin was traded at around $10,000 and this was what I told him. “What? This is super expensive!”

Of course, his reaction made me laugh. However, this is a typical reaction of someone who has never heard of Bitcoin or cryptocurrencies before.

First of all, he did not know that you can not only buy whole Bitcoins. You can also buy Satoshies, fractions of a Bitcoin. The next mistake was to think that you can determine if a cryptocurrency is cheap or expensive just by looking at the price.

The price is just one factor when it comes to evaluating if a cryptocurrency is a good investment or not. By the way, this would be generally the right question to ask. 

Don’t ask if a cryptocurrency is cheap or not, ask if it is worth an investment.

More important is to check the tokenomics of a cryptocurrency. Probably more important than the prices are the token supply and the market capitalization. In the end, you have to see the bigger picture and how the different factors relate to each other.

To be honest, a very low price can actually indicate that the project is in trouble or has at least bad tokenomics. 

A Flood of “Cheapest Cryptos Shitpostings”

I got the idea for writing this post when I was checking the stats on Publish0x. I saw that the most tipped post in November 2022 was titled “What Is the Best Cheap Crypto to Buy Right Now? Under $1”

The post was published by StealthEX, a user-friendly cryptocurrency exchange. Come on, I expect more professionalism from a cryptocurrency exchange but it seems that they have hired the cheapest writer they could find on the internet. 

The article was so successful that the author quickly decided to write another one. This time “What Is the Best Cheap Crypto to Buy Right Now? Under $0.1”

Under the post had already been some replies pointing out how stupid it is just to look at the price.

Let us spread the wealth wrote in the comment section: “Low price doesn’t mean cheap lol Matter of fact it could indicate trouble or at least poor tokenomics.”

and ☑️Arͬcͨaͣ🅽🅶eͤl̜̝̖̼͔̞̃ͮ͑̐̉͌🅾➏➏➏ wrote: “You should analyze the market cap and token inflation. Certainly not the price below $1 (which has no meaning).”

As you can see in the screenshot below, I couldn’t help myself and added my sauce to the comments.

It may sound harsh but such a title already screams in your face that the author has zero understanding of tokenomics. If the same author also gives you price predictions in the same post for the cheapest cryptos then all your alarm bells should ring.

For example, the author predicts about XRP in the same post:

In case the company gets out of court without a scratch, this may lead to a possible price raise. Some experts even claim that by 2030, XRP might go as high as $50-$75.

Source: Trust me, bro. 

I wonder if people are actually making their investment decisions based on such articles.

The thing is that I frequently read these articles about the cheapest cryptos that will make us all rich. It is complete bullshit but nevertheless, these kinds of articles and videos are being published frequently. It is like one author copying and pasting the clickbait headlines of another author and people who are new to crypto fall for it.

Here is another example of the YouTuber BitBoy Crypto. He published a video about the “5 CHEAPEST Altcoins to Make You Rich (under a Penny)”

The internet is full of this clickbait and when you see such headlines you should come up with your own conclusions. Do your own research and stay critical.

My Final Conclusion

My conclusion is simple and straightforward. Whenever you read a headline like “The cheapest cryptos that make you rich under one penny or under one dollar” then all your alarm bells should ring.

Such a title tells you that the author of the post or the creator of the video has ZERO knowledge about cryptocurrencies, especially when it comes to tokenomics. My advice is not to take advice from people who fart out such brainless clickbait headlines.

Thank you for reading and if this is the kind of stuff you like to read here on Publish0x then follow me for more..

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