10 Cheap Cryptocurrencies With a Future in 2023
10 Cheap Cryptocurrencies Are you looking for cheap cryptocurrencies that have a future in 2023? Here is a detailed list of the best cheap cryptocurrencies that have a future and are expected to be profitable in 2023.
Cheap cryptocurrencies have seen a boom in recent days, especially for day traders and speculators. Cryptocurrencies down to $1 or a maximum of $5 are attractive to investors who have the ability to take big risks with the potential to make a big profit. While investing in cheap cryptocurrency can be profitable at times, you should not invest in what you can afford. As far as the potential goes, it may also involve significant risks for beginners.
If you are ready to invest in some cheap cryptocurrencies, then read on to know the top 10 cheap cryptocurrencies for investment that have been selected after a lot of research and data analysis.
Contents
1 The best cheap digital currencies that have a future in 2023
2 1. Shiba Inu coin
3 2. The MANA coin “Decentraland” has a future of 2023
4 3. The Sandbox has a future in 2023
5 4. Polygon is a cheap coin
6 5. Basic Attention Token
7 6. VeChain
8 7. “The Graph” GRT coin has a future
9 8. Algorand ALGO has a future
10 9. DOGE is a cheap currency
11 10. Cardano ADA is a cheap coin with a future
12 Warnings When Buying Cheap Cryptocurrency
13 1- Lack of information:
14 2- Lack of liquidity and the “pump and dump” trap:
15 3- Cheating or pulling the rug out:
16 Cheap Cryptocurrency Investment Tips 2023
17 Market value versus the currency price
18 cheap exchanges:
19 conclusion
The best cheap digital currencies have a future in 2023
The primary purpose of this list is to bring to your attention cheap cryptocurrencies with great growth potential, in terms of market capitalization that have already witnessed important developments and exciting and growing interest from investors.
1. Shiba Inu coin
SHIBA has seen its price rise by more than the top 10 leading cryptocurrencies, and more than its competitor Dogecoin.
It is the cheapest currency on this list, and it has huge growth potential. It trades for less than a cent, but has a market capitalization of more than $3 billion. In the past weeks, the Sheba coin revenue has almost tripled. It was considered the biggest winner of the Coinbase platform. Its market value skyrocketed after the Tesla CEO posted a photo of his new Shiba Inu puppy with the caption Floki Frunkpuppy on Twitter.
Elon Musk used to post crypto messages on Twitter that had a huge impact on the cryptocurrency market. However, it is impossible for the Chiba currency to reach the price of one dollar due to the high number of units available for circulation and exceeding it, that is, it requires more money than what exists in the economy to reach this price.
2. MANA “Decentraland” coin has a future of 2023
The Decentraland project is a platform built on the Ethereum blockchain network. It uses the MANA token as its main currency. With these tokens, plots of land are bought, built and leased, earning a stable income. There are no restrictions on what people can build or share in this virtual world. It is the first digital platform wholly owned by its users, and its concept is very similar to the famous game Second Life.
Here are three main factors that make the MANA token on our list of the top 10 cheap cryptocurrencies with a future in 2023:
*. More than $1 billion has been invested in MANA. This is well above the market value of the vast majority of coins.
*. It has excellent liquidity, which can be bought, traded or sold on about 100 different trading platforms. As of January 2021, Binance, OKEx, and Coinbase Pro are among the most liquid exchanges for MANA.
*. Decentraland has a bright future thanks to its exposure to the growing NFT market, and is considered one of the leading promoters of the digital real estate sector.
However, cryptocurrency traders should be especially careful when trading cryptocurrencies, as they are highly volatile.
3. The Sandbox has a future in 2023
The Sandbox coin entered a bullish mode on October 28 and made the highest jump on October 30. Today again, the price of SAND coin continues to bullish strongly. The effect of renaming Facebook to Meta has taken all of the metaverse cryptocurrencies to the moon, with MANA leading the race, with Mana showing an almost 350 percent improvement in value in less than three days. And with the metaverse now revived, the Sandbox’s chances of continuing the race to the top remain.
Also, this currency is among the list of 10 cheap cryptocurrencies that have a future of 2023.
4. Polygon is a cheap coin
Polygon saw a huge price increase of 13,000% in May last year, and its price was less than $0.02, but the price rose to $2.68 by May. However, this high price did not last long. The price of the currency fell and then rebounded to reach the $1.2 level.
Polygon was created to scale Ethereum and improve the infrastructure. It is an India-based cryptocurrency that aims to make transactions cheaper and faster on the Ethereum blockchain. According to Coinmarketcap, Polygon has a market cap of $8.3 billion, and there are 6.72 billion MATIC units in circulation.
5. Basic Attention Token
It is called BAT for short. By 2021, its price was $0.2, and it started to rise gradually. With the boom in the cryptocurrency market, it reached an all-time high, reaching $1.53 on the 9th day of last April. But the price fell below $1 when the cryptocurrency market crashed within a month, and BAT in particular fell to $0.48.
After recovering from the market crash, the price of BAT started to rise again, reaching $0.98 last September. Once again, market turmoil due to Chinese restrictions sent the price down to $0.58. But soon the currency price rose again, reaching $0.69, the equivalent of our time now.
BAT is one of the digital currencies for which analysts predict a promising future. It appeared a short time ago, and during this period it succeeded in occupying an advanced position among all digital currencies that appeared years ago. It helps online advertisers make more money, gives users a high degree of security and privacy since their data cannot be tracked, and protects them from malware.
6. VeChain
If you are really looking for a very cheap cryptocurrency with a future, VET might blow your mind. It is trading at just over $0.11 per coin. It notes the stability of the price of this currency, which went through a strong correction period at the end of last year. At the same time, its trading volume has increased significantly over the recent period.
The market capitalization of VChain currently exceeds $7 billion, the number of cryptocurrency units circulating in the market is 64 billion, and the maximum supply of cryptocurrency units available for trading is exactly 86,712,634,466.
Also, this currency is among the list of 10 cheap cryptocurrencies that have a future of 2023.
7. The Graph GRT coin has a future
The price of GRT coin reached its highest price in more than seven months, reaching an all-time high of $2.99 on February 12, before falling with many other cryptocurrencies.
This coin is trading at $0.70 with a market capitalization of just under $3.3 billion. Some analysts say that the GRT Indexing Protocol has established itself as a critical component of the global decentralized finance (DeFi) infrastructure, and as a result, the token could return to its all-time high and beyond by the end of this year.
In a similar way to how search engines like Google index the internet, Graph is a decentralized indexing protocol used by blockchains like Ethereum. Currently, it supports nine networks, including Ethereum, Polygon, CELO, and BSC.
8. Algorand ALGO has a future
The current price at the time of writing this topic: $ 1.66. There are those who consider it among the top 10 cheap digital currencies with a future in 2023.
Algorand coin, ALGO, appeared in 2019, and at that time it received great interest and a very strong price jump, reaching $1.53. ALGO’s blockchain-based currency network aims to enable applications to take advantage of the opportunity to more seamlessly and easily embed digital payment services. This coin project basically came about as a solution to the problems of the blockchain network in terms of transaction execution speed and graphics, as the ALGO network provides a very fast transaction execution time of up to 2 seconds per transaction and much lower fees and charges.
Algorand Coin can process more than 1 million transactions per day and is able to provide the security and scalability needed to support accounts that require reliable performance guarantees. This will help our coin to gain more use cases which will drive up the price. You should also know that the price of Algorand coin does not rise or fall at a rapid pace, which means that it may stay at its current price for several months before advancing in price. This means that it is a currency suitable for long-term investment, not short-term.
9. DOGE is a cheap currency
Dogecoin started out as a joke, but it has become completely real for all who profit from it now. The coin is certainly still “cheap” and is currently trading at around $0.25. Especially compared to its peak at $0.68 in the middle of this year. But the current price is up over 4,000% since the beginning of the year where you could have bought Dogecoin for about half a cent.
Unlike many other cryptocurrencies that serve actual functions, Dogecoin was created as a joke. Earlier this year, this currency rose sharply after the uproar on social media platforms and Elon Musk’s controversial tweets. And it’s the same kind of rant and hype that prompted GameStop stock to surge more than 400% in a single week earlier this year.
Also, this currency is among the list of 10 cheap cryptocurrencies that have a future of 2023.
10. Cardano ADA is a cheap coin that has a future
At under $2.20, Cardano remains a pretty cheap cryptocurrency for most investors, even after gaining more than 1,000% so far this year. This price hike is due to the recent update which added the ability to build smart contracts.
Due to its flexible network and fast transactions, Cardano is expected to remain one of the most popular cryptocurrencies. According to Coinbase, Cardano is a “blockchain” built on a protocol called Ouroboros, which can verify transactions without high energy costs.
There are also more than a list of 10 cheap cryptocurrencies with a future of 2023 out there on the eyes of traders on various social media outlets like Reddit. Forums like r/WallStreetBets have played a huge role in adding more buzz to the cryptocurrency market. Among these currencies, which are increasingly being adopted by investors:
- Ripple and its symbol XRP
- Chiliz, whose symbol is CHZ
- Zilliqa, whose symbol is ZIL.
- Mogo and its symbol is MOGO
- Bitfarms and its symbol is BITF
- DeFi Technologies, symbol DEFTF
Warnings when buying cheap cryptocurrency
While finding a list of 10+ cheap cryptocurrencies with a future in 2023 is never easy. Regardless of the price, cheap cryptocurrencies can vary in many ways and can be tracked using risk factors, market cap, etc.
Cheaper coins are relatively riskier due to their volatile nature. The following three reasons greatly increase the risk
1- Lack of information:
Pseudonymization, a major ethos of cryptocurrency, is a major flaw. This allows developers to hide behind anonymous accounts. When investing in cryptocurrencies, it is essential to know the team behind the scenes, which helps to gauge their intentions to some extent. Moreover, many investors make mistakes when they do not conduct audits of cryptocurrency projects and developers, which often leads to loss of funds or fraud.
2- Lack of liquidity and the “pump and dump” trap:
The lack of liquidity creates opportunities for several global Telegram and Reddit groups to coordinate pumping and dumping operations for the benefit of their members.
Such pump and dump schemes are not new to the cryptocurrency market. This has resulted in many new investors losing a lot of money in the cheap cryptocurrency. Therefore, traders should be careful before jumping into any investment due to greed.
The best example of this was the coordinated infusion and dumping of XRP on February 1, 2021.
3- Cheating or pulling the rug out:
It is a phrase used to describe a project in which the founders of the project drain the investors’ money and abandon the project. Which leaves investors in good dry shape. The 2021 rookie race has seen several projects undergo rug pulls. SushiSwap was the only project to recover after an exit scam, while the vast majority of them crashed and burned. While the risks involved in cryptocurrencies are inherent. However, the returns often far outweigh those of altcoins and the most traded Bitcoin.
Cheap Cryptocurrency Investment Tips 2023
Before investing in cryptocurrencies, you should do your research. Some cheap cryptocurrencies may have great potential while others will likely be worthless in the coming years.
Cheap cryptocurrencies with a small market cap are riskier than cryptocurrencies with a large market cap, so invest accordingly.
*Warning 1: Prices of cheap currencies usually fluctuate sharply and some are subject to price manipulation by pump and dumping schemes.
*Warning 2: If you are a beginner or do not know much about cryptocurrencies which is our topic, it is imperative that you are aware of any cryptocurrency before investing in it.
Market value versus the currency price
The idea that the market value is much more important than the currency price is not true at all. Just because one token is inexpensive, does not mean the valuation of a cryptocurrency project is also cheap. For example, yearn.finance is trading at $33,000 per token, but its market capitalization is only $1.2 billion. In contrast, Dogecoin (DOGE) is trading at $0.21. But its market capitalization is over $27 billion due to the huge amount of DOGE in circulation. So in fact, it is difficult for Dogecoin to double its price in terms of funding compared to yearn.finance.
Cheap exchanges:
Since these digital currencies are relatively cheap and small, not all cryptocurrency exchanges support every cheap coin.
Let’s say you find a cheap cryptocurrency and decide to invest in it, you may need to create an account with a new cryptocurrency exchange. For example, you will find that Coinbase does not support certain currencies. While it is powered by the Binance platform, which is the largest digital exchange in the world. If you are looking to gain access to a variety of cryptocurrencies, Binance is an ideal platform.
In conclusion
This was a list of top 10 cheap cryptocurrencies with a future in 2023. Most of the cryptocurrency investors own bitcoin as well as cheap cryptocurrencies with a future in 2023. While cheap altcoins are attractive investments due to their potential higher price in the future. However, it is more dangerous than Bitcoin. Since Bitcoin is well established and has institutional backing, it is very unlikely that we will see Bitcoin die. However, cheap cryptocurrencies with limited prospects may not achieve long-term growth. So it is better to only invest money that you can afford to lose in cheap cryptocurrencies.