Cryptocurrencies are a hot topic, especially among speculative investors. The financial press now covers what was once considered a fringe investment. CNBC and other financial networks talk about Bitcoin every day. They even have a ticker that shows the current price.
This all adds up to make Bitcoin and the cryptocurrency movement well-known for investors. Many people don’t know that Bitcoin isn’t the only cryptocurrency. There are many other options available if you don’t want to be restricted by the major names. Be aware that every cryptocurrency is different and you should speak with your financial advisor before investing in these speculative products. Check out these 10 options if you are ready to invest in crypto.
VeChain may be the best choice if you are looking for a low-cost cryptocurrency. VeChain is currently trading at $0.20 per coin despite a remarkable 4-year gain of 4,500%.
VeChain is the currency of the VeChain Thor Blockchain and is used to transfer value throughout the network. VeChain Thor Blockchain was created for supply chain management and business processes using distributed ledger technology.
Dogecoin was originally a joke but has become a real thing for those who profit from it. Although the coin’s price is still very affordable at $0.59 per coin, it has increased from the initial $0.50 per coin in the beginning of 2021.
Dogecoin is a joke about Bitcoin, unlike many other cryptocurrencies that have actual functions. The hype surrounding the crypto has driven it up by speculators and message boards. This is likely to not matter to people who are making real profits and are still looking for “cheap” cryptocurrency.
EOS is considered to be a competitor to Ethereum. However, both are found in the crypto world. EOS is the token that lives in the EOSIO blockchain. The EOSIO blockchain, like many others, is designed to facilitate large transactions quickly and securely. According to the developers, the platform is highly configurable and fast, and can be configured easily by developers. It also has security and compliance features. EOS is a very affordable coin.
Coinbase reports that Chainlink, another Ethereum token, powers Chainlink’s decentralized oracle network. This network allows secure connections to external data sources, APIs, and payment systems.
Chainlink claims it is enabling real-world data as well as off-chain computations to increase the capabilities of smart contract software. It also maintains the benefits of blockchain technology such as security and reliability. Chainlink’s price fluctuates but is currently at $48 per coin.
Litecoin, which was created two years after Bitcoin, is one of the oldest cryptocurrencies. According to its developers, Litecoin allows for almost instant, zero-cost payments anywhere in the world. The Litecoin network is secured by mathematics, just like blockchain technology. Litecoin is different from Bitcoin in that it can handle higher transaction volumes due to frequent block generation.
Cardano is still a cheap cryptocurrency, at less than $1.50 even after the 2,800% gain in one year.
Coinbase claims that Cardano is a cryptocurrency platform built on the Ouroboros proof-of-stake consensus protocol. This protocol can verify transactions without incurring high energy costs. The Haskell programming language is used for Cardano development. Ada Lovelace, a 19-century mathematician, is the symbol for the Cardano token ADA. Its developers claim that Ouroboros allows Cardano network decentralization and gives the ability to sustainably scale up to global needs without compromising security.
Polkadot is a cryptocurrency with a unique name. It serves as the token for the Polkadot blockchain. The Polkadot token has three major purposes according to its creators: it provides governance for the network, operates the network, and creates parachains by bonding Polkadot coins. This may seem like a complicated field to new investors, but the 1,300% increase in Polkadot tokens since August 2020 is easily understood by anyone. Polkadot tokens are still affordable at $38 each.
Stellar is its own payment network and uses Stellar Lumens to pay for its currency. The network is open to anyone. However, it was designed to be used by financial institutions that make large transactions. These types of transactions are possible on the Stellar network almost instantly and at very little cost. This is in contrast to traditional blockchain networks or other competitors. Although the price of Stellar Lumens is steadily increasing, it trades at a low level of $1 per coin.
According to Coinbase, Tether is an Ethereum token whose value is equal to one U.S. Dollar. Tether, at $1 per token is one of the most affordable cryptocurrencies. The Tether token’s value is 1-to-1 with the U.S. Dollar, so it is unlikely that the price will change like other cryptocurrencies.
Monero, a cryptocurrency that is known as a privacy coin, is a form of cryptocurrency. Monero’s main focus is user privacy. Transactions on Monero’s blockchain can not be tracked or traced by anyone. Monero is a cryptocurrency that you can use to make your bank. No one can track your transactions or see your balances.
According to Coinbase, Monero uses a proof of work consensus algorithm to issue new coins and secure transactions. Monero costs only $404 per coin, which is quite reasonable compared to the thousands of dollars that it takes to buy one Bitcoin.