Top cryptocurrencies like Bitcoin, Ethereum and Polygon have generated huge profits for their early investors. However, while they still have good profitability potential, we can hardly expect a repeat of the truly impressive results they showed early on. But that doesn't mean that we won't see similar opportunities again. New or undervalued cheap cryptocurrencies sometimes pleasantly surprise their investors. In this article, we'll tell you about the best cheap crypto coins to buy today, which could bring good profits in the future.
What is the best cheap crypto to buy right now?
Before discussing promising cheap cryptocurrencies, we first need to answer the question, "what is a cheap cryptocurrency?" Many novice crypto investors think of cheap cryptocurrencies as those with a low price per coin, usually less than $1. However, since crypto assets can be fractional, the price of a single coin says nothing about whether that cryptocurrency is cheap. If a cryptocurrency has a large issuance volume, its coins may be cheap, but the asset itself may be very popular and possibly even overvalued.
Therefore, the really cheap cryptocurrencies are those with low market capitalisation. A low market cap compared to other cryptocurrencies means that the cryptocurrency is less popular, possibly undervalued and has more room to grow. Of course, of the vast number of cheap cryptocurrencies, only a few show significant growth. But those that do sometimes generate very impressive returns, reaching thousands, even tens of thousands of percentage points.
Needless to say, the potential for high profitability always comes with high risk. Investments in cheap cryptocurrencies are considered risky even by crypto market standards, so they are particularly demanding in terms of risk management. In addition, it should be kept in mind that the crypto market is currently in a bearish trend, and no one knows how long it will last.
The best 10 cheap cryptos to buy in 2022
It's always difficult to predict which cryptocurrency will see a significant rise in price, especially when it comes to cheap and lesser-known cryptos. We've listed 10 relatively cheap cryptocurrencies that have good growth potential and are also quite liquid.
1inch Network (1INCH)
1inch Network is a liquidity aggregator of decentralised exchanges that offers the best exchange prices from dozens of sources in real time. The project is actively developing and establishing partnerships, as well as trying to expand its native token utility.
1INCH statistics (as of 24/11/22)
1INCH/USD historical price chart
Storj (STORJ)
Storj is an open-source, decentralised cloud storage platform that protects hosted data with advanced encryption. Given the growing need for low-cost and secure cloud storage, the platform has good prospects, despite the presence of serious competitors.
STORJ statistics (as of 24/11/22)
STORJ/USD historical price chart
SushiSwap (SUSHI)
SushiSwap is a decentralised exchange on the Ethereum blockchain that incorporates a number of basic DeFi mechanisms for financial management. The platform is gradually evolving from an exchange into a full-fledged ecosystem, incorporating DeFi and NFT tools.
SUSHI statistics (as of 24/11/22)
SUSHI/USD historical price chart
IoTeX (IOTX)
IoTeX is one of the Internet of Things projects aimed at creating a decentralised ecosystem for secure and confidential interaction between people and smart devices. Given the huge potential of the IoT market, the project token has a good chance of growth.
IOTX statistics (as of 24/11/22)
IOTX/USD historical price chart
Ocean Protocol (OCEAN)
Ocean Protocol is an ecosystem for creating decentralised data markets where users can buy and sell any type of information. The protocol is intended to take advantage of artificial intelligence to monetise data and equalise opportunities to access it.
OCEAN statistics (as of 24/11/22)
OCEAN/USD historical price chart
Theta Fuel (TFUEL)
Theta is a decentralised video streaming network that aims to solve the problems caused by the centralisation of the industry, as well as the increase in the volume and quality of video streaming.
TFUEL statistics (as of 24/11/22)
TFUEL/USD historical price chart
Enjin Coin (ENJ)
Enjin Coin is the token issued by the Enjin gaming platform that allows for a full trading environment to buy and sell in-game items for multiple games, as well as creating communities around each game.
ENJ statistics (as of 24/11/22)
ENJ/USD historical price chart
COTI (COTI)
COTI is an ambitious project aimed at creating a scalable, decentralised payment ecosystem. The goal of the project is not only to enable individuals and companies to make fast transactions of all types of currencies but also to enable organisations to build their own payment systems.
COTI statistics (as of 24/11/22)
COTI/USD historical price chart
Everscale (EVER)
Everscale is a decentralised project originally launched on the basis of the Telegram Open Network's open-source code, but it has already outgrown its predecessor. The ecosystem is based on a scalable, asynchronous and multithreaded blockchain with functioning sharding, capable of processing more than 100,000 transactions per second. It's actively developing.
EVER statistics (as of 24/11/22)
EVER/USD historical price chart
SafePal (SFP)
SafePal is a cryptocurrency wallet that combines a hardware device with a software platform for managing crypto assets. It supports twenty blockchains and more than 10,000 different cryptocurrencies and tokens, as well as the ability to interact with decentralised applications. SFP is a wallet service token and is used to receive rebates on SafePal commissions and products, earn money from the SafePal Earn passive income programme, manage protocol and more.
SFP statistics (as of 24/11/22)
SFP/USD historical price chart
The best app to buy cheap crypto
The best apps for buying cryptocurrencies, including cheap ones, are usually those of reputable cryptocurrency exchanges. The specific choice depends on your experience, why you're buying cryptocurrency and your personal preferences.
