Getting into the cryptocurrency industry might seem extremely expensive in the eyes of people who are starting with their investments or purchases for the very first time, but this couldn’t be further from the truth.
While some platforms will even allow you to buy a fraction of a Bitcoin (BTC), which is worth well over $40,000, and will essentially allow you to buy $50 or $100 worth of BTC, a lot of users might prefer owning the entirety of a token, or a coin.
This is where altcoins come into the picture, cryptocurrencies which are alternatives to Bitcoin. Some of these have an extremely affordable entry point and are cheap to buy by just about anyone.
Most of the time, these cryptocurrencies tend to be used online for transacting more than the expensive tokens due to the fact that they are extremely cheap, and as such, the cost of transacting them is also cheap.
How to Pick Solid Cheap Cryptocurrencies
Each of the cheap tokens picked within this list was picked from a careful assessment of their utilities, project development, overall promise as well as value. As of February 2022, there are over 17,500 cryptocurrencies available for purchase.
Many new projects will typically begin at an affordable price point prior to spiking up in value, assuming their project and utility end up being a success.
This is yet another reason as to why cheap tokens have blown so much in popularity, as they would give early investors a huge potential for profit within the long-term, assuming they blow up in popularity, and in in-turn, value.
This means that picking cheap cryptocurrencies can be a challenge, as ideally, you want to avoid any projects that were made only to exist and without much utility. As such, we have carefully gone through many of the cryptocurrency options available and have picked the five best tokens that you can buy on a budget.
Best Cheap Tokens to buy in February of 2022
- Stellar (XLM)
- Hedera (HBAR)
- Shiba Inu (SHIB)
- Siacoin (SC)
- DigiByte (DGB)
Stellar (XLM)
XLM is a cryptocurrency token that powers the Stellar decentralized protocol that runs on top of open-source code. The protocol is intended to enable the transfer of digital currencies to FIAT money both domestically or across borders.
The Stellar blockchain’s cryptocurrency is called Lumen, and the tokens trade under the symbol XLM. In fact, the token is essentially the bridge which makes it a lot less expensive to trade assets across borders. All of this has the main goal of challenging existing payment providers, which have had a historical reputation of charging high fees for a similar service.
Hedera (HBAR)
HBAR is the native cryptocurrency token that powers the Hedera network. The Hedera Hashgraph is a cryptocurrency network that aims to be a platform where anyone can have the ability to essentially transact or deploy applications and where a group of businesses can oversee the software. This means that it can be defined as a faster and more secure alternative to a blockchain, where it utilizes a technology known as Directed Acyclic Graph.
HBAR as a token has a fixed supply of 50 million HBARs, and it is used as a fuel within the network, where users can pay for transaction fees with it and use it for in-app payment and micropayments.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a cryptocurrency that falls under the category of meme-tokens; however, this is due to the fact that it was inspired by other meme-tokens such as Dogecoin (DOGE).
Over time, however, the token developed its own ecosystem, specifically through the introduction of ShibaSwap, which is a DEX and features other tokens known as BONE and LEASH, which are all a part of SHIB’s ecosystem.
This token specifically gained a high level of popularity due to the fact that the community of investors ended up getting drawn into the coin due to its cute charm and social media attention from big names such as Elon Musk and Vitalik Buterin.
Siacoin (SC)
Siacoin (SC) is essentially the native utility token of Sia, which is a blockchain-based, distributed, and decentralized cloud storage platform. Its main goal is to provide a secure as well as trustless marketplace for cloud storage where users are able to lease access to their unused storage space.
Each of the agreements takes place through the utilization of smart contracts, where SC is the medium of exchange that is used on the platform as a means for paying for storage on the network.
DigiByte (DGB)
DigiByte (DGB) is essentially this open-source blockchain and asset creation platform. It originally began development in October of 2013. However, the genesis block of its DGB token was mined in January of 2014 and originally began as a fork of Bitcoin (BTC).
The main point of appeal for this cryptocurrency project comes in the fact that it utilizes five different algorithms as a means of improving security, capacity, and transaction speed. DGB is a cryptocurrency that is used to pay for fees towards those who help operate the network, and it is intended to facilitate the payments and as fuel for its smart contracts.
Summary
Hopefully, now you have a heightened level of understanding as to exactly which best cheap cryptocurrency tokens are currently available for you. Know that with such a vast number of tokens available, the chances are high that there are many other solid options as well, but based on their utility and the project behind them, these tokens were selected as some of the most appealing options.
Each of these tokens plays its own major role within its respectful ecosystems and blockchain networks, and as such, will likely have a high level of utility in the future as well.