Most discussions about investing in cryptocurrencies focus on Bitcoin (BTC), Ethereum (ETH) and the other top 10 assets for newcomers to the space. While these coins are well known in the cryptocurrency market, there are other cryptocurrencies with equal potential as investment possibilities and as blockchain projects in general that can be purchased for $1 or less.
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As each project has its own unique qualities and potential for success, we will explore the top five cryptocurrencies that you can buy for less than a dollar in no particular order.
1. Cardano (ADA)
Cardano
- ADA / USD
- $0.364492
- (10.98%)
- 24H High: $0.368175
- 24H Low: $0.327245
- Powered by CoinGecko
- Where to buy ADA: Binance
Founded by Ethereum co-founder Charles Hoskinson, Cardano (ADA) is one of the most interesting blockchain projects in development. The digital asset entered 2023 with positive momentum bringing with it the success of the leading cryptocurrency protocol by development activity in 2022.
Cardano has one of the highest developer engagement scores among all cryptocurrencies. It was developed with a scientific mindset and research-based methodology. Last year, the Alonzo update of the project brought smart contract capabilities to the network. Non-fungible tokens (NFTs) also operate in the ecosystem, and Cardano is a viable network for them thanks to its cheap transaction fees.
Cardano has put a lot of effort into acquiring market share in Africa and has agreements with several governments and organisations on the continent.
It currently trades below $0.31 per unit and ranks ninth by market capitalisation. Trading volume reached its highest level in two months in January, as transactions in large whales soared online following a 30 per cent price rise in ten days from 30 December.
2. Polygon (MATIC)
Polygon
- MATIC / USD
- $1.01
- (10.58%)
- 24H High: $1.02
- 24H Low: $0.897532
- Powered by CoinGecko
- Where to buy MATIC: Binance
Formerly known as Matic Network, Polygon (MATIC) is an ERC-20 token that operates on a layer 2 blockchain network.
Polygon transactions occur on subsidiary chains, diverting traffic away from Ethereum’s main Ethereum blockchain and enabling faster and cheaper transactions. Since its debut on the mainnet in early 2021, Polygon has seen meteoric growth, with projects such as AAVE and 1 Inch launching on the network to take advantage of its reduced fees compared to Ethereum.
Based on its current market capitalisation, Polygon is the tenth largest cryptocurrency in the world, with a market value of $7.5 billion. By the end of 2021, it had risen to over $2.50, its all-time high, but now trades at $0.8641.
3. VeChain (VET)
VeChain
- VET / USD
- $0.02129227
- (12.49%)
- 24H High: $0.02128936
- 24H Low: $0.01891797
- Powered by CoinGecko
- Where to buy VET: Binance
VeChain (VET) was created to help control material goods throughout the supply chain. The aim of this blockchain is to increase transparency about the origins of things and their itineraries to their final destinations by combining blockchain technology with actual hardware attached to the goods.
Sunny Lu, former CIO of Louis Vuitton China, created VeChain in 2015 as a subsidiary of Bitse, a blockchain technology company. The VET coin was previously known as VEN until its ticker name was changed to VET when it was first launched as an ERC-20 token on Ethereum. In 2018, VeChain underwent a rebranding process that included introducing its own native blockchain and transitioning to the VET token.
By stacking their VETs, holders can earn rewards in the form of VeThor Tokens (VTHO) through the VeChain network, which employs a proof-of-authority consensus process. Blockchain calculations and operations are performed using VTHO. In terms of total market value, VET now ranks 34th.
VET currently trades at $0.01782, making it the 36th largest cryptoasset by market capitalisation.
4. Shiba Inu (SHIB)
Shiba Inu
- SHIB / USD
- $0.00001080
- (14.06%)
- 24H High: $0.00001089
- 24H Low: $0.00000947
- Powered by CoinGecko
- Where to buy SHIB: Binance
The Shiba Inu canine meme token (SHIB) has been ranked as one of the most interesting cryptocurrencies of 2022. In fact, according to data acquired by the world’s largest cryptocurrency exchange Binance, Shiba Inu is among the top three most sought-after cryptocurrencies in 2022.
Users who hold SHIB can stake it for yield, act as liquidity providers and have a say in the management of the Shiba Inu community; however, SHIB is primarily a speculative token.
Although SHIB is moving away from the platform, it has a presence in the gaming business through its use of non-fungible tokens. Therefore, the SHIBOSHIS project aims to provide its holders with access to VR games, token trading and digital land acquisition.
SHIB is trading at $0.000008964, the 16th largest cryptocurrency by market capitalisation, with a total value of $4.9 billion.
5. XRP (XRP)
XRP
- XRP / USD
- $0.404533
- (7.56%)
- 24H High: $0.406664
- 24H Low: $0.371456
- Powered by CoinGecko
- Where to buy XRP: Binance
The main use of XRP is as a blockchain for faster and cheaper international payments. Neither Proof-of-Work nor Proof-of-Stake is used in the XRP consensus process. Instead, requested updates to the previous ledger are verified by validation servers. In the XRP blockchain, no governing body decides who can create nodes or validate transactions. This allows transactions in many currencies to be processed quickly, which in turn attracts more investors who are leaving the outdated and sometimes slow SWIFT network.
With new ledgers being generated every three to five seconds, the XRP blockchain facilitates instant settlement of transactions. According to Ripple’s calculations, the XRP ledger can process 1,500 transactions per second (TPS) on average and 65,000 TPS at full capacity. By comparison, Bitcoin and Ethereum have settlement speeds of 5 TPS and 15 TPS, respectively.
Although Ripple has been fighting the SEC in court for three years, the company is optimistic that it will eventually prevail. With that, many in the cryptocurrency community anticipate XRP’s price to rise. At the time of publication, XRP was trading at $0.36, the sixth largest cryptoasset by market value.
Naturally, the cryptocurrency space is a rapidly developing industry, so you may not want to limit yourself to cryptocurrencies that cost less than $1 per unit. Remember that cryptocurrencies are divisible and buying some portion of Bitcoin is feasible for $1.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. By investing, your capital is at risk.
