- Apart from Bitcoin and other major cryptocurrencies, many other alternatives are available for crypto lovers
- Some of them are very cheap and promising, with attractive features
- Cryptos like Stellar and XRP offer lower fees and high transactional speed as compared to their expensive peers
Investing in cryptocurrencies is the latest craze, especially among tech-savvy investors. Though Bitcoin, Ethereum, Cardano, etc., dominate the crypto market, there are several other cheap crypto options that can be looked for by smaller crypto investors.
With this backdrop, let us take a look at the two cheap cryptos which are trading under a dollar.
Source: © Bidinet | Megapixl.com
Created by Jed McCaleb, Stellar cryptocurrency is currently trading at US$0.1789 and is one of the cheapest available cryptos.
Being an open network, Stellar aims to help connect financial firms with one another via blockchain technology, thereby bridging the gap to trade in digital currencies across borders.
Owing to its lower fees and excellent transaction speed, the crypto is gaining traction in the cryptocurrency community, thus currently making it to the top 30 cryptos by market cap.
As a result, both small as well as large enterprise companies have chosen this crypto to move their funds and access new markets.
At present, there are 24.6 billion XLM coins in circulation, while the total supply is 50 billion XLM coins.
Another cheap yet promising crypto, tickling crypto investors' fancy, is XRP, which is currently priced at US$0.761.
XRP is a digital asset built for global payments, which has been developed by the company Ripple, allowing its users to transfer funds at a very low cost. Also, it boasts of being more cheaper and efficient than the SWIFT system, which processes international transactions.
Further, XRP neither uses the Proof-of-Work nor the Proof-of-Stake consensus mechanism; instead, it uses XRP Ledger Consensus Protocol, which greatly helps in reducing transactional costs as well as transaction finality time.
Currently ranked sixth among the major cryptos worldwise, in terms of market cap, XRP is available on all the major cryptocurrency exchanges across the world like Binance, KuCoin, Kraken, FTX, Bithumb, etc.
At the time of writing, around 48 billion XRP coins are in circulation, while the maximum supply is 100 billion XRP coins.
Cryptocurrency investments, however fascinating, call for extensive research and analysis, as the crypto assets are highly speculative and unregulated investments.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.