Bitcoin usually leads any investment discussions, along with Ethereum (ETH) and other top ten assets such as Solana (SOL) and Avalanche (AVAX). While these coins are well-known in the cryptoverse, there are other lesser-known coins available for pennies on the dollar that have just as much potential as investment opportunities and blockchain projects in general.
Crypto Projects Under $1
In this post, we will look at five of the best cryptocurrencies that can be purchased for less than a dollar. We didn’t list them in any particular order because each project has its own set of merits and potential for success. It is up to you, the investor, to research which projects spark your interest and decide whether or not to invest in them.
Plenty is written about Bitcoin and ETH. Today we’ll look at five altcoins that are flying under the radar.
Stellar (XLM)
Stellar is a multi-currency backend payment network based on Lumen tokens (XLM). Stellar is a blockchain protocol, and Lumens are the token used to process blockchain transactions. It 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 a huge potential for micropayments. Stellar, which is currently in the 20s in terms of market capitalization, has a lot of room for growth.
Stellar, a direct competitor to Ripple, seeks to target individuals rather than large financial institutions, which may be more feasible. They also have a very high level of developer engagement. Stellar provides an inflation pool reward of 1% per year to hedge against asset value inflation.
Crypto.com(CRO)
Crypto.com Coin (CRO), the native token of the Crypto.com exchange, is an excellent cryptocurrency that can be purchased for less than $1. CRO, which is currently ranked 19th in terms of market capitalization, provides numerous advantages to investors.
You can get a 10% reward if you stake at least 10,000 CRO on the exchange for 180 days.
Every day, a reward is added to your account. Furthermore, staking at least 10,000 CRO grants you access to Syndicate Events, which allow you to purchase a crypto asset at a 50% discount.
There is a Crypto.com Visa card available that provides users with cashback returns in CRO ranging from 1% to 8%, depending on the card tier. They also provide a service called Crypto Earn, which allows you to earn interest on virtually any asset you can think of. The amount is paid out in the asset you put in, and it is determined by the term (flexible, one-month, three-month), as well as the amount of CRO staked. All of your trading fees can be paid in CRO as well.
Binance and Binance Coin are both competitors of CRO the token and Crypto.com the exchange. Many CRO enthusiasts believe that Crypto.com has a chance to unseat Binance.
VeChain (VET)
The goal of VeChain (VET) is to aid in the tracking of physical items throughout the entire supply chain. VeChain intends to increase the level of transparency offered in terms of the sources of products and their journeys to their final destinations by combining blockchain technology with physical hardware attached to goods.
Sunny Lu, the former CIO of Louis Vuitton China, founded VeChain in 2015 as part of Bitse, a larger blockchain technology company. The VET token was initially launched as an ERC-20 token on Ethereum under the ticker name VEN before being renamed VET. This transition to the VET token was part of a VeChain rebranding process that included the launch of VeChain’s own native blockchain in 2018.
VeChain employs a proof-of-authority consensus mechanism, and holders can stake their VET in exchange for VeThor Token rewards (VTHO). VTHO is used to power blockchain calculations and processes. VET is currently ranked 34th in terms of market capitalization.
Hedera (HBAR)
Hedera (HBAR) is a public network that employs Hashgraph, a new distributed ledger technology (DLT). Data is stored in hashes rather than blocks, but it functions similarly to a blockchain. Transactions in Hashgraph are verified using a virtual voting and gossip protocol.
HBAR, the Hedera network’s native cryptocurrency with a maximum supply of 50 billion, is energy efficient. HBAR is used to compensate network nodes for storage, compute, and bandwidth for each transaction.
As Hedera employs proof-of-stake consensus, HBAR is also used for weighted voting and network protection. This means that a bad actor would need to own one-third of the total supply to maliciously affect consensus, which will be impossible for the first five years.
Hedera is currently ranked 38th in terms of market capitalization and trades for around 22 cents per piece. In September 2021, it reached a high of more than 50 cents.
Shiba Inu
SHIBA INU (SHIB) is an ERC-20 token that aims to be a direct competitor to Dogecoin (DOGE) and the market’s top meme coin. SHIB developers are attempting to create a meme coin with utility by developing ShibaSwap, a decentralized finance (DeFi) platform for the asset that allows holders to stake and earn other SHIB related assets.
Note: Shiba Inu rose sharply, up 19% on news of the listing on Robinhood.
The inclusion of SHIB in this post is due to its strong community support rather than technical merits. In terms of technology, the asset 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 is currently trading for well under a penny per share and ranks 15th overall in terms of market capitalization.
Final thoughts
It should be noted that meme coins such as SHIB and Dogecoin are not generally well-regarded by the crypto community, despite the fact that Elon Musk and Mark Cuban are big fans.
Still, crypto is a rapidly evolving industry, and you may not want to limit yourself to crypto that costs less than $1 per token.
As always, we’re providing this post as educational content. This isn’t 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 feel that at current valuation these five projects all show promise and the potential for upward gains.