During the lockdown due to the pandemic, the cryptocurrency reached tremendous popularity. Today the usage of cryptocurrency India is at its peak. Everyone has realized the potential of cryptocurrency and its power to transform how we trade.
The only corresponding word to cryptocurrency that you might know would be Bitcoin. Still, bitcoin is the most expensive cryptocurrency as it is the longest-running crypto since it debuted, but it is the most costly crypto right now. Of course, not everyone can afford to hold and send bitcoin in the bitcoin wallet, but you would be surprised to know that there are many cryptocurrencies that you can invest that too in your budget. They are light on a budget but still can provide you with average returns.
Listed below are some of the cheapest cryptocurrencies you can invest in right now:
1. Cardano (ADA)
Price of a coin as of this writing: $0.99
Market capitalization as of this writing: $32.785B
The first coin on the list is Cardano. Since it is less than a dollar, this currency remains among the cheapest cryptocurrency. The Cardano token was founded by Charles Hoskinson in 2017 and is named after Italian polymath Gerolamo Cardano. ADA token is named after Ada Lovelace, the world’s first computer programmer in the 19th century. It works precisely like Ethereum, a platform for blockchain developers to create apps. However, it is far more efficient, as it is a proof of stake network.
2. Solana (SOL)
Price of a coin as of this writing: $92
Market capitalization as of this writing: $28.925B
The next coin to the list is Solana, created by Anatoly Yakovenko and Raj Gokal. Solana is much quicker and faster in terms of the number of transactions it can process with significantly lower transaction fees than the rival blockchains like Ethereum. In addition, Solana is a bit unique crypto as it is based on two concepts: proof of history and explanation of stake.
3. Polygon (MATIC)
Price of a coin as written: $1.50
Market capitalization as of this writing: $11.545B
The third coin among the cheapest cryptocurrencies is Polygon; its currency is Matic. This cryptocurrency operates using the Ethereum blockchain technology. Polygon acts like a layer two solution; it works on top of Ethereum’s primary blockchain. It aims to improve the limitations of the Ethereum platform, that is, slow transaction processing speed and high transaction fees. In addition, it wants to help Ethereum increase its size, security, and efficiency.
4. Decentraland (MANA)
Price of a coin as of this writing: $2.46
Market capitalization as of this writing: $4.512B
Decentraland also runs on blockchain technology; it is a 3D virtual world platform launched in 2017 by Ari Meilich and Esteban Ordano. With decentraland, you can acquire virtual assets, art, land, clothes. According to the market capitalization, it is one of the best performing cryptocurrencies; the tokens have returned up to 5300%. Its popularity is rising after being associated with luxury brands like Gucci, Louis Vuitton, and Burberry.
So start your crypto journey today with a cryptocurrency trading app.