The 18 Best Cheap Cryptos to Buy in 2024

Best Cheap Cryptos to Buy Now in 2024

1. Poodlana (POODL) – Best Lifestyle-Inspired Solana Memecoin
2. Solciety ($SLCTY) – Best Politically-inspired Memecoin
3. BitBot ($BitBot)– Best New Crypto Trading Bot
4. Bitcoin Dogs ($0DOG) – Best Bitcoin BRC-20 Token
5. Memeinator (MMTR) – Best New Memecoin
6. Metacade (MCADE) – Best Web3 Gaming Community
7. Sui Network (SUI) – Cheapest Layer 1 Blockchain
8. Arbitrum (ARB) – Cheapest Crypto Layer 2 Network
9. ArbDoge AI (AIDOGE) – Cheapest Memecoin with Potential
10. Mute (MUTE) – Cheap Dex in a Growing Ecosystem
11. Gains Network (GNS) – Cheap Perpetual Trading Platform
12. Ripple (XRP) – Cheap Crypto with Real World Adoption
13. Blue Move (MOVE) – Growing NFT Marketplace
14. Osmosis (OSMO) – Cheap Interoperable Dex
15. Rmrk (RMRK) – Cheap NFT Infrastructure
16. Render (RNDR) – Decentralised Rendering Service
17. Bitcoin (BTC) – Cheap Bluechip Crypto
18. Ethereum (ETH) – High Potential Blockchain

The Best Cheap Cryptos to Buy Now Compared

Reviewing Our Top 18 Best Cheap Cryptos

Poodlana (POODL) – Lifestyle-Inspired Solana Memecoin

In a sea of flat dog-inspired memecoins with no edge, Poodlana stands out as the creme de la creme of lifestyle, fashion, and class by redefining what it means to be fabulous in the digital age.

Why invest in POODL?

According to a news report from Coindesk, 80% of memecoins’ price growth occurs during Asian trading hours, making the Asian market vital to their success.

POODL is inspired by the Poodle dog breed, the third most popular breed in the Asian region. Considering that most of the strongest memecoins on Solana are tied to real-world narratives, the project can create a strong narrative by keying into the region’s love for the Poodle breed.

Crypto ranking data shows that memecoins popular in Asia tend to perform well globally and reach million-dollar market capitalisations. Some examples are Peipei ($78 million market cap), Biaoqing ($12.97 million market cap), and KFC ($195 million market cap).

By differentiating itself as a high-class memecoin for the fashion elite based on a popular dog breed, POODL can lock into a popular narrative and achieve breakout growth.

Risks in investing in POODL

Most memecoins that try to start (or key into) a popular narrative eventually fail. POODL’s success relies largely on its positioning as a high-class memecoin that is a step above the rest and its fair launch. Like most memecoins, it has no utility and is a risky venture.

POODL has a total supply of 1 billion tokens, 50% of which will be offered for sale in the 30-day presale event starting on July 3rd. After the presale, the token will be listed on Raydium within 60 minutes of the presale close. All tokens will be unlocked and hit the market simultaneously, making the next 30 days the only time investors can get their hands on the token before launch.

To participate in the presale, visit the Poodlana website.

Solciety – Best Politically-inspired Memecoin

Solciety is a memecoin project pushing beyond the norm to create a community for all degens. The coin leans into the PolitiFi narrative by presenting itself as an on-chain political party for all memecoin lovers focused on gains, not policies.

Why invest in Solciety?

Memecoins thrive on attention and are built around narratives—the more relevant the theme, the more attention the memecoin garners. Politics is a prominent narrative this year as US elections approach, and Solciety being the first memecoin heralding the political party meta, enjoys first mover advantage.

The project stands on the proven success of Political tokens like Donald Tremp and Joe Boden but differs from them in that it does not lean toward one party but creates a community for everyone.

Furthermore, the project is built on Solana and enjoys the network’s speed, scalability, and growing user base.

Risks in Investing in SLCTY

Like all memecoins, SLCTY risks performing admirably or failing spectacularly. Investors also risk a lack of longevity as most memecoins lose the greater part of their values after the hype around their narrative dies down.

SLCTY’s presale launched on 18 June, and will run for 30 days offering 3 billion tokens to early investors. Visit the Solciety website to participate in the presales.

Bitbot (BITBOT) – Best Crypto Trading Bot

Bitbot is a crypto trading bot that allows you to trade cryptos on-chain using simple text instructions on Telegram. The bot is part of a rising trend of people using bots with instant execution speeds to keep up with institutional traders.

These bots are usually integrated with the Telegram messaging platform, allowing users to control their trading activities using simple commands. Because of their ease, efficiency, and speed, traders can use them to uncover and buy tokens before they launch on major exchanges.

Why invest in Bitbot?

Bitbot offers features that place it ahead of other trading bots. The most pertinent is its emphasis on decentralization. Most Telegram bots hold on to their users’ private keys, creating an attack vector.

We saw this happen with popular bots like Unibot which was hacked in October 2023. The attacker could drain funds from connected wallets because the platform stored its users’ private keys.

Bitbot uses a completely decentralized structure to ensure users are always in charge of their tokens.

Risks in investing in Bitbot

While the bot has utility, the success of its token depends on the company’s ability to attract and retain users, which is usually easier to accomplish during a bull market than a bearish one.

2024 is expected to be bullish thanks to Bitcoin’s halving, however, interest beyond the bull season is yet to be determined.

Bitbot has a total supply of 1 billion tokens, 30% of which will be sold in an upcoming presale event. This presale includes a competition that will reward participants with up to $100,000. To stay current on the presale, visit the Bitbot website.

Bitcoin Dogs – Best Bitcoin BRC-20 Token

Bitcoin Dogs’ native token, $0DOG, will launch as the first-ever ICO on the Bitcoin blockchain. Thanks to cutting-edge Bitcoin Ordinal technology, Bitcoin Dogs is pushing the boundary of what is being built on the Bitcoin network.

By combining memecoins, NFTs, and Ordinals, this project aims to go where none has gone before along with all who dare to run ahead of the pack. Given the industry’s love for breaking new milestones, this project will attract the interest of people within and outside the Bitcoin community.

Why invest in Bitcoin Dogs?

Bitcoin Dogs keys into strong crypto narratives like BRC-20 and the Bitcoin halving that could place it in investors’ sights, and allow for innovation and significant upside; several BRC-20 projects that have launched have garnered traction from investors and Bitcoin enthusiasts.

Bitcoin Dogs has gone further than most other projects to build the first Bitcoin-native gaming ecosystem with tokens, a planned NFT collection, and even games further down the line.

Bitcoin on-chain metrics data from Dune Analytics show a significant increase in transaction count on the blockchain that started close to the end of January 2023, when Ordinals was launched.

Higher volumes combined with the Bitcoin halving in April 2024 could catalyze significant growth for the network and its most promising projects, like Bitcoin Dogs.

Risks in Investing in Bitcoin Dogs

Bitcoin Dogs is a new project attempting a feat that has never been done before. As such, there are bound to be obstacles that are novel to this project, and a history of token launches shows that plans are hardly ever without hiccups.

$0DOG will be the native token of the Bitcoin Dog ecosystem. It has a maximum supply of 900 million units, 90% of which is allocated to the presale. This means that investors will get the bulk of tokens, making this as close to a fair launch project as possible.

To join this project early, head over to the Bitcoin Dogs website.

Memeinator (MMTR) – Best New Memecoin

Memeinator is a memecoin with a twist. While other memecoins adopt an animal theme, either a dog or frog, Memeinator has chosen to adopt themes from the wildly popular Terminator series. It features terminator dogs that have traveled back in time to dominate the meme market.

Why invest in Memeinator?

In the memecoin space, virality is the difference between success and failure. Memeinator has employed innovative marketing strategies, an engaging story, and an upcoming suite of products to keep its growing community engaged.

Despite the uncertainty of the memecoin space, Memeinator has displayed the potential to create a community of loyal supporters by offering innovative rewards. One of which is a trip to space on the Virgin Galactic, worth a whopping $250,000.

In the future, the MMTR token will be the key to unlocking the ecosystem which will include exclusive NFTs and an action game.

Risks in investing in Memeinator

Big plans and hype are common tools that memecoins employ to get people onboard, and while Memeinator is making strides, it is still untested. Most memecoins fail, and there is a possibility that Memeinator will as well.

MMTR has a maximum supply of 1 billion tokens, 62.5% of which is on offer in the presale which is currently ongoing. This is suitable as most of the supply will be in the hands of the public, making it less prone to manipulation.

To join the presale, head over to the Memeinator site.

Metacade (MCADE) – Best Web3 Gaming Community

Metacade is a protocol that supports a Web3 gaming community built for all who love crypto gaming, from builders, to players, bloggers, influencers, and more.

The project is one-of-a-kind as it focuses on the crypto community that can be fostered across various games and Metaverses.

Why Invest In Metacade?

Metacade is attempting to create a community made up of players and members from across various games. Its aim is to be a hub for social gaming activities, tournaments, and interactions.

Community members will have access to several games from the member area of the platform. They will also have access to leaderboards which track metrics like the top trending games and the best players.

Users will also get access to strategies for the best GameFi crypto to help maximize their earnings in crypto games, and also gain access to a review section where they can write about their experiences.

We included Metacade because it is the first project to build a gaming community on this scale. Its direct competitors are guilds and scholarship programs like Merit Circle that do not integrate social experiences at the level that Metacade intends to.

Risks In Investing In Metacade

Because Metacade is the first to develop a project in the crypto market on this scale, there is no playbook or market stats to show how well the project is likely to perform. it will have to go through the often slow process that projects at frontiers go through.

The project is pretty new and as such MCADE is still cheap as the company builds towards its goals and the market has not yet priced in its potential value.

You can Buy Metacade here.

Sui Network (SUI) – Cheapest Layer 1 Blockchain

Sui is a new blockchain network that is horizontally scalable and presumably easy to build on. Like Ethereum, it is a general-purpose network for all types of decentralized applications and crypto assets.

Unlike Ethereum, it is not built with Solidity, instead, it uses a programming language called Move which is reportedly dynamic and easy to use.

Why Invest In SUI?

This guide explores cheap cryptos to buy and SUI’s price is currently at $1.12 at a market capitalization of $596 million. The blockchain’s parent company raised $336 million at a $2 billion valuation, the crypto asset coin’s price does not currently reflect the ecosystem’s value.

When projects launch tokens in the middle of a bear market, there can be a mismatch between the token’s price and its value, like we see with SUI, due to external market forces. Other blockchains of Sui’s caliber all have market caps above $1 billion, which means that SUI has room for growth and is a good crypto to buy.

Risks In Investing In Sui

Sui is in a competitive subsector of crypto assets, the non-EVM blockchain sector, and is up against present and coming blockchain networks with serious technological chops. While Sui has an impressive tech stack and a big bank account, it still has to prove itself against other networks with big bank accounts and impressive technologies.

SUI has a total supply of 10 billion coins, 528 million of which are currently in circulation. Some sell pressure is to be expected in the future. However, SUI’s current price makes it an attractive option to buy cheap cryptocurrencies.

You can buy SUI on crypto exchanges like Binance.

Arbitrum (ARB) – Cheapest Crypto Layer 2 Network

Arbitrum is a layer 2 network built on top of Ethereum that processes transactions on crypto markets much faster and cheaper than its parent network, thanks to a technology called Rollups.

Layer 2 networks (Called L2s) are usually native to Ethereum and help with scalability and circumvent Ethereum’s high fees.

Arbitrum is the largest L2 network with a market capitalization of $1.3 billion as of writing and a total locked value of $2.38 billion, far more than its market cap.

Why Invest In Arbitrum?

Like Sui, Arbitrum recently launched its native currency, called ARB, in bearish market conditions. As such, the token does not reflect the level of value its ecosystem provides. As the 4th largest EVM network, Arbitrum provides tremendous value through its DeFi applications.

Risks In Investing In Arbitrum

Arbitrum is built using a technology called an optimistic rollup which is believed to be technologically inferior to another called a zk rollup. Newer layer 2 solutions are being built using the latter. This development could displace Arbitrum as the largest layer 2 in the long run.

ARB has a total supply of 10 billion tokens, 1.2 billion of which are currently in circulation. It trades at $1.09 as of writing.

You can buy ARB on crypto exchanges like Binance.

ArbDoge AI (AIDOGE) – Cheapest Memecoin with Potential

ArbDoge AI is a meme coin that was recently launched on the Arbitrum network in April 2023, and while it has grown tremendously within a short period, it is still one of the best cheap cryptocurrencies in the crypto space, both in dollar value and compared to its potential, good news for crypto enthusiasts.

This meme coin rose after the astronomical meme coin rally by a now popular top meme coin called Pepe. ArbDoge AI has a market capitalization of $69 million with a circulating supply of 194 quadrillion tokens.

Why Invest In ArbDoge AI?

ArbDoge AI has performed fantastically well in a bear market, reaching a high of around $100 million in market capitalization. While it has retreated to about $69 million as of writing, we believe this presents a buy opportunity on crypto exchanges for crypto investors.

Unlike several meme coins, ArbDoge implements a 15% token burn on every transaction. So far, 15.9 quadrillion or 7.5% of the total supply has been burned. The project is also developing various products that will exacerbate the burn process.

A good example is the proposed NFT marketplace and DeFi application, which come with their own tokens. The only way to obtain these tokens is to burn AIDOGE meme coins.

Risks In Investing In ArbDoge AI

ArbDoge AI is another meme coin project with promises to implement various programs and incentives to create utility for its token. We cannot guarantee that its efforts will be successful, and history usually suggests otherwise.

You can buy AIDOGE on a crypto exchange like OKX.

Mute (MUTE) – Cheap Dex in a Growing Ecosystem

Mute is a decentralized exchange that is shaping up to be a pillar of the ZkSync Era network, the fastest growing Zero knowledge L2 solution.

Mute stands out from regular Decentralized exchanges by combining various Defi services in one protocol. The Dex contains an automated market maker, liquidity pools, yield farms, and a bond platform that allows you buy its native tokens at a discount to market price.

Why Invest In Mute?

Every blockchain ecosystem has a major Dex that processes the bulk of transactions on that network. Mute is one of the contenders for ZkSync Era’s ecosystem with a total locked value of $9.4 million.

You can swap between various tokens, provide liquidity in return for yields, and even boost returns with the new Amplifier platform. You can also buy MUTE tokens at a discount by exchanging your LP tokens using the bond function.

Risks In Investing In Mute

Mute is one of the new decentralized exchanges on the zkSync Era network and is directly linked to its success. If the network grows, so does Mute as it is linked to much of the decentralized network activities. If the network doesn’t grow, then Mute may not as well.

MUTE currently trades at $0.63 per token and at a market capitalization of $25 million, a paltry sum compared to others like Joe at $118 million.

You can buy MUTE on centralized exchanges like Coinbase.

Gains Network (GNS) – Cheap Perpetual Trading Platform

Gains Network is a trading platform for cryptocurrency derivatives called perpetuals. These derivatives act like Futures without an expiry date. This means that they can be held infinitely.

The platform is geared mainly towards speculators and traders with leverage facilities of up to 150x, although it can be used for regular swaps.

Why Invest In Gains?

Decentralized trading has grown in popularity since the fall of FTX. However, platforms like GMX are already quite mature and its token price is high. Gains, however, are still growing and have immense potential.

While GMX trades above $50, GNS, the platform’s native currency, trades at $4.96 after reaching a recent all-time high of $10.63 in February 2023.

Risks In Investing In Gains Network

Although Gains Network has potential, the major advantage it has over other perpetual platforms are its tokenized stocks, forex pairs, and metals. Unfortunately, there isn’t much retail interest in trading stocks on the blockchain space at this time.

GNS has a total supply of 30 million tokens, all of which are currently in circulation at a market capitalization of $150 million. It also has $16 million worth of assets locked in its smart contracts.

Compared to other exchanges in its class, like dYdX with a market capitalization of $331 million, Gains is cheap for crypto investors.

You can buy GNS on exchanges like Binance.

Ripple (XRP) – Cheap Crypto With Real World Adoption

Ripple is a hidden gem amongst digital assets in crypto markets because it is a crypto project that has achieved institutional adoption and provides a sustainable solution to an important real world problem.

Ripple is a global payments system that facilitates global transactions with instant settlements for international trades that would otherwise take several days. Instead of global companies tying up their capital in various markets in order to provide instant settlements or wait several business days for networks like SWIFT to process payments, they can just use Ripple.

Why Invest In Ripple?

The Ripple network is powered by a token called XRP whose price has remained under a dollar for the last year because of a court case with the top regulator exchange commission in the US, the SEC. However, recent reports hint at an end to the case and a possible win for the company.

XRP’s price surged 50% in March 2023 on news that the case may be entering a final phase. Clearly, there is still demand for this coin in the crypto space, despite it getting delisted from major US exchanges.

Risks In Investing In Ripple

Ripple has an ongoing case with the US’ SEC, the outcome of which could make or mar the company and its token.

XRP has a total supply of 100 billion tokens, 51 billion of which are already in circulation. It trades at $0.42 as of writing with 52-week highs and lows of $5.4 in March 2023 and $0.30 in June 2022, not a bad cheap cryptocurrency.

To learn more, read our Ripple Review. You can buy XRP on an exchange like eToro.

Blue Move (MOVE) – Growing NFT Marketplace

Blue Move is an NFT marketplace on the Aptos blockchain network and more recently, Sui Network. It is the leading NFT market on a growing network with plans to expand to other blockchain projects chains.

The marketplace lists art collections, collectibles, domain names, in-game items, sports NFTs, virtual worlds, and photographs on the Aptos network. The NFT space on Aptos is quite new and has not matured like those on Ethereum or even Solana.

Why Invest In Blue Move?

NFTs may take a back seat during bear markets, but they are usually hot in bull cycles. And crypto analysts generally agree with one coming up in 2024, Blue Move is positioned for growth.

The platform’s native token, called MOVE, is also deeply integrated into the system. Investors who use the native coin as a top staking coin, MOVE gain whitelist access to new NFT collections launching on the platform. They also get a cut of revenue generated from trading fees.

MOVE has a total supply of 300 million tokens, 28 million of which are in circulation. While this may ordinarily hint at sell pressure during token unlocks, the project’s tokenomics incentivizes holders to stake the token.

Risks In Investing In Blue Move

BlueMove does not support ERC-751 NFTs. As such, it is not as popular as other marketplaces that do. Its success is tied to the successes of the Move programming language used in blockchain platforms like Aptos and Sui.

MOVE trades at $0.06 as of writing, placing its market capitalization at $42 million. Compared to marketplaces like Rarible with a market capitalization of $16 million, MOVE is still cheap compared to its potential.

You can buy MOVE on exchanges like Uniswap.

Osmosis (OSMO) – Cheap Interoperable Dex

Osmosis is a protocol for managing liquidity across Cosmos’ Interchain. The Interchain is a network of interconnected blockchain projects that are all independent but can communicate and send assets between each other thanks to a communication protocol called the Inter-blockchain Communication Protocol (IBC).

Osmosis Dex is the premiere interchain decentralized exchange built on the Osmosis protocol. It runs liquidity pools for several blockchains within the Cosmos ecosystem and facilitates swapping between them.

Why Invest In Osmosis?

Osmosis is one of the foremost leaders in interoperable liquidity management. Every blockchain in the Cosmos ecosystem has its token in a liquidity pool on Osmosis. Hence, most trading occurs there and the platform benefits from fees.

Its AMM also provides an opportunity for investors to also profit by providing liquidity and earning attractive returns as the liquidity pools serve an entire ecosystem of interconnected blockchains.

Risks In Investing In Osmosis

Despite being the liquidity layer of the interchain, Osmosis’ total value locked pales in comparison to Dexes on some layer 2 networks, which shows that the bulk of crypto retail users are on chains like Ethereum and Solana.

So far, Osmosis has an average daily volume of $8 million and $153 million worth of combined liquidity. Its native token, OSMO, has a total supply of 1 billion units, 577 million of which are already in circulation, bringing its market capitalization to $357 million.

As of writing, OSMO trades at $0.65 with a 52-week high of $2.60 in May 2022. This cheap cryptocurrency is currently trading at its 52-week low.

You can buy OSMO on exchanges like Binance.

Rmrk (RMRK) – Cheap NFT Infrastructure

RMRK (pronounced Remark) is an NFT standard for building eternally liquid, forward compatible NFTs on the Polkadot ecosystem. RMRK isn’t below $1 like many of the cheap cryptocurrencies on our list, however, we believe it is cheap compared to its potential.

This NFT framework stands out from others because it acts as a building block for programmable NFTs. Developers can program NFTs with special attributes, nest NFTs within each other, transfer ownership of NFTs to other NFTs (e.g. transferring the ownership of a house NFT to the land that it is built on).

Developers can also alter NFTs even after creating an NFT, like making an upgradable NFT sword that changes after a certain criteria is met, creating multiple resources within one NFT, like a gun that has a card game version, a 2D shooter version, and a 3D graphic version all in one NFT.

Why Invest In RMRK?

Besides it being the most advanced NFT standard in existence, we do not see NFTs going away anytime soon, and RMRK may become the go to for NFT creation and management.

RMRK’s tokenomics are also ideal with just 10 million tokens in existence, 9.5 million of which are already in circulation. We do not expect any sell pressure from the remaining 500,000 tokens.

Risks In Investing In Rmrk

Despite Rmrk’s superior NFT standard, it isn’t very popular with many crypto investors. While the token has an EVM version, its use cases are still somewhat limited to Statemine chains like Polkadot and Kusama.

As of writing, RMRK trades at $1.89 with 52-week highs and lows of $6.56 in May 2022 and $1.69 in December 2022.

You can buy RMRK on exchanges like Coinbase.

Render (RNDR) – Decentralised Rendering Service

Render is a decentralized graphics rendering service that provides raw GPU power for creators, builders, designers, and pretty much anyone that needs graphics processing power.

Render reduces the price of heavy rendering, like that of video games and Metaverses, as creators do not need to buy expensive GPUs to render in-house. It is the leader in the decentralized applications rendering space with a growing use case as cloud services expand.

Why Invest In Render?

Render is a blockchain platform-based project that has immediate real-world utility. Like Ripple, it is already being used by creators around the world to bring their concepts to life. Its token is deeply integrated into the system and is used by all stakeholders to transfer value across the ecosystem.

Risks In Investing In Render

Render will inevitably face off with Nvidia as the leading GPU chip maker runs a cloud GPU computing network, similar to Render’s, but centralized.

RNDR has a total supply of 521 million tokens, 363 million of which are currently in circulation, meaning that while some sell pressure is to be expected, the way RNDR’s tokenomics works reduces the likelihood of this occurring.

As of writing, RNDR trades at a market value of $1.74 with 52-week highs and lows of $2.41 in May 2023 and $0.32 in June 2022.

You can buy RNDR on exchanges like Binance.

Bitcoin (BTC) – Cheap Bluechip Crypto

Bitcoin makes our list because it has growth potential as the gold standard of crypto. While it is not one of the cheap cryptocurrencies in dollar terms, it is still a viable option when compared with how much the network can grow and the fact that it can be bought in fractions.

Also, new technologies have allowed for the inscription of data into blocks, creating NFTs and even meme coins on the Bitcoin blockchain. The proliferation of this technology could lead to thriving NFT markets, although NFTs called Ordinals already exist on the blockchain.

Why Invest In Bitcoin?

Bitcoin is the only provably decentralized blockchain network that cannot be turned off or hard forked in a way that fundamentally alters the network’s properties. It also has a fixed coin supply that cannot be changed.

Furthermore, deflationary mechanisms are in place for Bitcoin emissions, called the Bitcoin halving, where the reward for processing transaction blocks are cut in half every four years. This halving usually heralds a bull run.

Risks In Investing In Bitcoin

Bitcoin is possibly the most solid cryptocurrency to be considered as an investment option. However, it is affected by the same macroeconomic factors that affect stocks, like interest rate policies and inflation reports as the crypto tends to behave like a tech stock.

BTC trades at $27,590 as of writing, down from a recent high of $30,400 in April 2023. However, the coin has risen roughly 50% since the start of the year. There are only 21 million coins that will ever exist and 19.3 million of those are already in existence.

Thanks to the halving, all BTC will not be mined until an estimated 2140.

Read our Bitcoin review to learn more about the cryptocurrency or buy BTC on an exchange like eToro.

Ethereum (ETH) – High Potential Blockchain

Ethereum is the largest smart contract network in the industry. It is a pillar holding up the entire Web3 space as it provides the infrastructure that powers tens of thousands of decentralized finance applications, layer 2 networks, decentralized storage solutions, metaverses, NFT collections, and various other services.

While Ethereum’s price may not seem cheap in lay terms, it is when compared to the network’s growth potential.

Why Invest In Ethereum?

Ethereum houses $27.7 billion worth of foreign assets, discounting ETH in liquid staking pools. Its operating system, the Ethereum Virtual Machine, is used in various different blockchains because of its efficiency in smart contract development.

Furthermore, the Ethereum network recently got an upgrade which has increased the network’s theoretical speed to about 100,000 transactions per second. This upgrade is expected to herald a new age of retail participation and enterprise solutions as Ethereum’s once-high gas fees are significantly slashed.

The new upgrade also implemented a burn on ETH coins used to pay for transactions. Provided transaction fees outpaces emissions, ETH should remain deflationary. Seeing as the Ethereum network made $168 million in fees within the last 7 days, we believe transactions are at a healthy level.

Risks In Investing In Ethereum

The most pertinent risk to Ethereum is stakers selling their funds now that stakes can be withdrawn. For now, data shows that more people are leaving their stake than are unstaking and possibly selling. However, that could change.

ETH trades at $1,846 as of writing with 52-week highs and lows of $2,344 in May 2022 and $995.25 in June 2022.

To learn more, read our Ethereum review or buy ETH on exchanges like eToro.

What Exactly Are Cheap Cryptos?

Cheap cryptocurrencies are a relative function of their current prices compared to their perceived value. A crypto can be cheap this week and overpriced the next depending on how much its price increases in relation to its value.

Plainly put, a crypto is cheap when its current price underrepresents its present or future value.

How Do Cryptocurrency Prices Move?

Crypto prices are usually a reflection of the perceived value of the ecosystem, product, or service that it powers. Prices fluctuate because people arrive at different valuations of the same crypto when considering different factors.

Sometimes, the market is in general agreement that a crypto is overvalued or undervalued, and you see this manifest as either a sell off or a rally.

At other times, the market gets sucked into hype and we see cryptos that seemingly have no underlying value sky-rocket. However, these cryptos usually fall significantly after.

Benefits of Investing in Cheap Cryptos

Aside from the obvious benefit of affordability, cheap cryptocurrencies offer a lower entry price point for potentially valuable projects. Considering that future return is a function of current price, the lower you buy in, the greater your return, provided the project performs well.

There’s also a time aspect to buying cryptos cheap. While it may not always apply, buying crypto cheap could also mean that you are buying early which, in some communities, will lead to opportunities to buy others cryptos at cheap prices.

What is a Penny Crypto?

Similar to penny stocks, penny cryptos are cryptocurrencies that trade for a couple cents. They are usually very cheap and never grow beyond a certain level, most never reach $1.

Penny cryptos appeal most to investors who do not have significant liquidity to invest in cryptos but still wish to purchase significant volumes. For example, $100 gets you only 0.003 BTC as of writing or 0.05 ETH, not much to go off. However, the same amount gets you 57 RNDR, 237 XRP, or 316 billion AIDOGE.

While the longevity of even the best penny cryptos is another topic entirely, there are instances where investors make significant returns from penny cryptos.

How to Choose the Best Penny Crypto

To find the best cheap cryptocurrencies, you need to:

• Hunt for low market cap projects: Cheap crypto usually have a low market capitalization, asides from projects like Dogecoin and The Graph. But even those projects started as low cap cryptos.
• Join crypto presales: Presales present an opportunity to buy cryptos at a discount to their listing price. While they come with inherent risks (like the crypto not performing well), the ones that perform well can generate impressive gains.
• Gauge Community engagement: Because you need to get into penny stocks early to truly be profitable, you’ll need to be able to gauge the project’s potential quickly. Community engagement is a good way to do so because strong communities make strong projects.

Risks of Investing in Cheap Cryptos

Smart Contract Risk

Smart contract risks include vulnerabilities in the smart contracts that make up the crypto project; vulnerabilities that hackers could take advantage of.

All cryptos have some degree of vulnerability to smart contract risk. However, cheaper cryptos may be more vulnerable as the project developers may not have the funding or manpower to properly secure their smart contracts from coordinated attacks.

Market Risk

Market risks often involve the effect of the overall economy. For example, cheap cryptocurrencies launched during bear markets can be negatively affected by a downtrend. In our experience, small cap cryptos lose a greater part of their market cap in bear markets.

Ethical Risk

A significant risk to look out for is ethical risk, popularly known as rug pulls. This is when project developers drain liquidity from their own projects, leaving investors with worthless tokens. Rugs are possibly the most deadly risk on our list as they occur more frequently and often leave investors without a way out.

What Amount Should You Invest in Cheap Cryptos?

The blanket rule for investing is to never invest more than you are willing to lose. However, this advice applies to established investments. Cheap cryptos are more of a gamble than an investment and as such should not command as much capital as regular investments.

We won’t specify an amount, but your investment into cheap cryptos should be with money that you are prepared to lose. While the goal is to make profit, it’s advisable to adopt the mindset that monies invested in cheap cryptos are already gone.

This way, if you make a profit, good. If not, it was a write off either way.

How To Buy Cheap Cryptocurrency Coins

You can buy cheap cryptos on cryptocurrency exchanges like eToro. This guide shows you how.

1. Open an Account

Open an  account by browsing to the eToro website and clicking on the Start Investing icon. Alternatively, you can download the mobile app from the Play Store/App Store and click on Sign up. Fill out the form with your full name, email address, and password.

2. Verify Your Account

Verify your account by setting up your profile and submitting KYC documents like a valid government ID and proof of residence document like a utility bill.

3. Make a Deposit

Once your account has been verified, deposit funds by using any of the available payment options. Choose a convenient method and set the amount you’d like to deposit.

4. Buy Crypto

Once your account is funded, search for any of the cryptos mentioned in the Discover tab. An interface like the one below should load. You can then set your parameters and buy.

Where to Buy Cheap Cryptocurrencies

To get your hands on cheap cryptos like Poodlana that are not yet listed on exchanges, you’ll have to purchase them directly on their websites using a crypto wallet. We created a guide to help you do that.

Step 1: Download A Wallet

We used Trust Wallet for this guide. Download the Trust wallet app on your phone or use the web platform via a browser extension on your laptop. Create a new wallet. Ensure you keep your seed phrase safe and offline.

Step 2: Buy Some Crypto

You’ll need SOL to buy new Poodlana tokens. Buy some on an exchange like eToro and transfer to your wallet, or use a fiat onramp on the wallet app. You can connect to a merchant on the Binance p2p market directly from the wallet app.

Step 3: Connect Wallet

Navigate to Poodlana’s website and connect your wallet to join the presale. You can do this from the in-built browser on the mobile app. Buy POODL tokens using SOL. Ensure you have enough to pay for gas fees.

Step 4: Wait To Claim

You’ll need to wait until the presale is over to claim your tokens.

Latest Cheap Cryptos News

• Developers are bullish on the Sui network’s suitability for games thanks to its horizontal scaling capacity
• The Arbitrum DAO stands to receive over 3,350 ETH in revenue from transaction fees
• Bitcoin’s price spikes as Blackrock applies for a spot Bitcoin ETF

Final Thoughts on the Best Cheap Crypto to Buy Now

We explored the best cheap cryptos to buy and chose Poodlana as the best choice because of its viral growth potential.

Nonetheless, all the cryptos on our list are good options for investors looking for cheap cryptos. Just remember that there are risks to buying cheap cryptos such as smart contract risks, market risks, and ethical risks.

Finally, never buy cheap cryptos with money you are not ready to lose because the chances are usually stacked against low market cap cryptos under $1.

You can buy cheap cryptos on cryptocurrency exchanges like eToro.

Methodology - How We Picked The Best Cheap Crypto To Buy Now

The cryptos covered in this guide were chosen through rigorous research. We paid attention to security, reputation, price, and growth potential.

The tokens listed are the best we found in the various categories we listed them. For example, we listed Gains Network as the best perpetual trading platform because it allows you to trade several pairs with up to 150x leverage.

Check out our why trust us and how we test pages for more information on our testing process.

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