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Highlights
- Some inexpensive altcoins like Cardano and Stellar carry immense growth potential
- Cardano’s Ouroboros protocol helps in validating transactions without high energy costs
- Stellar delivers low-cost transactions in emerging regions and carries potential for micropayments
Cryptocurrencies are attracting tech-savvy investors who are looking to diversify their portfolios. Also, with an increasing number of companies accepting cryptos as a means of payment, more and more investors are hooked on buying these new-age digital currencies.
Apart from top cryptos like Bitcoin and Ethereum, there are several other cheaply priced cryptocurrencies that have high growth potential.
So, this article will cover two such cryptos- Cardano and Stellar - that can be bought for less than a dollar.
Source: © Madartists | Megapixl.com
Cardano
Launched by one of the co-founders of Ethereum, Cardano is ranked 9th by market cap and is currently priced at US$0.9398, down 0.76% over previous day.
Must Read: Fantom, Cardano, Solana- All about 3 altcoins seen as Ethereum killers in 2022
It is a blockchain platform that utilises a proof-of-stake consensus mechanism, which is less energy-intensive as compared to Bitcoin's proof-of-work algorithm and addresses issues related to scalability, interoperability and sustainability.
Do Read: Why is Cardano (ADA) crypto rising?
Its PoS consensus protocol called Ouroboros can validate transactions without high energy costs. Also, the recent Alonzo upgrade has brought the ability to build smart contracts on Cardano's network, thus allowing developers to create DApps.
Cardano's in-house coin is ADA, and there are over 33.74 billion ADA coins in circulation while the maximum supply is 45 billion ADA coins.
Stellar
Debuted in 2014, Stellar is another inexpensive crypto, which is priced at US$0.2009, at the time of writing and is ranked 30th by market cap.
It is an open-source payment network that aims to use blockchain technology to connect financial institutions and offers low-cost transactions in emerging regions.
Also Read: Why are penny cryptos Stellar and VeChain hogging the limelight?
Of late, the crypto is gaining traction, thanks to its swift transaction speed and low fees. Here, it must be noted that Stellar has huge potential for micropayments, owing to its low transaction costs, which is just 0.00001 XLM, as per Coinmarketcap.
Stellar’s native token is Lumen (XLM). Currently, the circulating supply of XLM coins is over 24 billion and the total supply is capped at 50 billion coins.
Bottom Line
The cryptocurrency market, though lucrative, is a risky and unregulated market with a lot of uncertainty. Investors must know their risk tolerance and investment priorities and should also do their own research before venturing into the crypto space.
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