Cheap Cryptocurrencies to Consider

Chart of Cheap Cryptocurrencies to Consider - TRON, Basic Attention Token, Cardano, 0x, Stellar
Chart of Cheap Cryptocurrencies to Consider – TRON, Basic Attention Token, Cardano, 0x, Stellar – Source: TheTechnicals.com and TradingView

If you’re not familiar with cryptocurrencies and blockchain, you probably missed the boat on the dramatic rise and subsequent fall of Bitcoin and its crypto-brethren. Fortunes were rapidly made and much of them lost as Bitcoin shot up from sub-$1000 in early 2017 to just short of $20,000 by late 2017.

From there, though, the party ended and price came crashing down throughout 2018 – but not quite all the way down. Currently trading around $4000 for one bitcoin, the cryptocurrency is still well above where it was when it began its meteoric rise. And, of course, it’s also still much higher than it was if you were smart (or lucky) enough to buy when it was in the $100s or lower.

Cheap Cryptocurrencies

The basics of cryptocurrencies, blockchain, and Bitcoin are beyond the scope of this article. There are plenty of online resources explaining all of that. What we’re here to do is just give you a heads up on a few different cryptocurrencies that are incredibly cheap and may warrant further research and investigation.

By no means should anyone just buy a cryptocurrency because it’s cheap. At the same time, though, being ultra-cheap has its advantages. You can put in a small amount of money just to see where it may take you. Worst thing that can happen is that you lose the small investment. Best thing is that a cheap cryptocurrency could take you on a Bitcoin-esque ride to the moon (and back).

The chart above shows our list of cheap cryptocurrencies that are also relatively large in terms of market capitalization, compared to all of the countless cryptocurrencies out there. You can find an updated list of cryptocurrencies ordered by market capitalization here. The y-axis on the chart above shows the price (as of 1/6/2019) and the percentage performance for the past three months since early October. As you can see, most of them have not done well in the past few months – not by a long shot. But if any of them take off and shoot to the moon at some point, the best time to get in might potentially be right about now.

The List

  • TRON (TRX) – TRON was founded only in September 2017. The cryptocurrency is actually called Tronix (TRX), and it is geared towards facilitating payments and user traffic for the entertainment and digital content industries. On most exchanges, TRX cannot be traded using traditional fiat currencies (like the U.S. dollar). Bitcoin or Ethereum (another major cryptocurrency) would generally need to be used as a medium of exchange.
  • Basic Attention Token (BAT) – BAT is a cryptocurrency token based on Ethereum that is used primarily for a blockchain-based digital advertising platform. Users who view this platform’s web browser can receive the BAT cryptocurrency as payment from advertisers for their attention to the ads. BAT can be bought and sold on the popular Coinbase platform using fiat currencies like the U.S. dollar.
  • Cardano (ADA) – Cardano has similarities with Ethereum but is based on scientific philosophies and peer-reviewed academic research. Cardano’s founders were heavily involved in the development of Ethereum, and launched the predecessor to Cardano in 2015. Cardano generally is not traded using fiat currencies, and must be exchanged for other cryptocurrencies like Bitcoin or Ethereum.
  • 0x (ZRX) – 0x was founded in October 2016, and is another token based on Ethereum. The 0x protocol is meant to streamline the trading of Ethereum tokens at a low cost via ‘smart contracts.’ Like BAT, ZRX can also be traded on the Coinbase platform using fiat currencies.
  • Stellar (XLM) – The cryptocurrency traded on the Stellar network is called, lumen (XLM). The Stellar network was founded in 2014, but it wasn’t until 2015 when the stellar cryptocurrency was renamed to lumen. The primary goal of the Stellar network has been to efficiently connect banks, payments systems, and people. XLM is another cryptocurrency that is generally not bought and sold using fiat currencies.

IMPORTANT: The information above should not be construed as investment advice and should not be considered as a solicitation to buy or sell securities. Past performance is not indicative of future results. Trading and investing in the financial markets involves substantial risk of loss, and may not be suitable for all investors.

Disclosure: At the time of this article’s publication, we have no position in any security or trade/investment mentioned, nor do we have any business relationship with any company whose stock may be mentioned.

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