Top 5 cryptocurrencies available for under $1

Highlights

• One of the meme coins mentioned here is famous and has a multi-billion dollar market cap but is priced under one dollar apiece.

• Cheap cryptocurrencies may provide a chance to increase wealth in a shorter time but they are also risky.

• Apart from their low prices, investors must also check the unique features of each crypto before placing money in them.

The cryptocurrency world has some very highly-priced assets. Bitcoin (BTC), at the time of writing, was trading at nearly US$47,500, and yearn.finance (YFI) at nearly US$30,000.

Source: Pixabay.com

Then, there are crypto assets trading at under US$1. Not one or two, dozens of crypto tokens trade at such low prices, but many of these have market caps in billions of dollars.

Let’s find out the five best low-priced cryptos with high market caps.

1. Shiba Inu (SHIB)

SHIB is a crypto token that has lately gained prominence. Dubbed the ‘Dogecoin Killer’, it is a meme coin that uses the ‘scrypt’ algorithm like Dogecoin.

Also read: 10 little known cryptocurrencies investors must explore

In September 2021, Shiba Inu made it to the Coinbase exchange, which was followed by a steep rise in its value. Some analysts believe that the rally in SHIB is due to the interest of those crypto enthusiasts that could not create wealth during the Dogecoin rally.

At the time of writing, SHIB was trading at nearly US$0.0000085 apiece. This price tag also makes SHIB the cheapest cryptocurrency listed on CoinMarketCap. But it doesn’t mean it is a weak crypto. SHIB’s market cap is over US$3.3 billion. Further, over the last seven days, it has gained in double digits.

2. BitTorrent (BTT)

If someone wants a cryptocurrency with utility, BTT is a strong contender. BitTorrent’s platform is used to share files and it has been in the space for nearly two decades. Now, BitTorrent is moving toward more and more decentralization by using blockchain technology.

File sharing using torrents remains extremely popular. BitTorrent has added the blockchain advantage to this, and the BTT token has become a cryptocurrency.

At the time of writing, BTT was trading at nearly US$0.0034 apiece, which makes it one of the cheapest crypto tokens. But the market cap was a whopping US$2.2 billion.

3. TRON (TRX)

TRON’s blockchain is said to be way faster than the popular blockchains of Bitcoin and Ethereum. TRON claims to handle 2,000 transactions per second.

Decentralized apps or DApps can be built on TRON’s blockchain. TRON has gained significantly in 2021 and is among the top 30 cryptos by market cap on CoinMarketCap.

Also read: Top 10 altcoins to explore this October

At the time of writing, TRX was trading at nearly US$0.09 apiece. The market cap of TRX was nearly US$6.5 billion. It is a promising low-priced cryptocurrency of 2021.

4. VeChain (VET)

Supply chain disturbances have increased the price of many goods ever since the pandemic struck. The VeChain blockchain aims to infuse decentralized tech into supply chain management.

Over the decades, the supply chain space had little change except for some tech upgrades. VeChain could be a game-changing force. VET and VTHO are two native tokens of this blockchain. The dual-token arrangement is one of the unique selling propositions of VeChain.

At the time of writing, VET was trading at nearly US$0.10. It is also among the top 30 cryptocurrencies by market cap. The market cap was nearly US$6.8 billion at the time of writing.

5. Dogecoin (DOGE)

Dogecoin is a famous but cheap cryptocurrency. In one of his tweets, Elon Musk confirmed working with DOGE developers to make the blockchain more efficient.

Also read: 5 best smart contract platforms in 2021

Dogecoin also remains one of the most popular meme crypto tokens. It is used for tipping purposes on the famous social media platform Reddit. Although Bitcoin and Dogecoin remain among the best headline-making cryptos of 2021, their underlying mechanism is different. The former uses proof-of-work while the latter uses a ‘scrypt’ algorithm.

At the time of writing, DOGE was trading at nearly US$0.21. The market cap was a whopping US$28 billion. With such a high market cap, Dogecoin is among the top ten cryptos today.

Bottom line

The benefit of any cheap cryptocurrency is that its value can appreciate more than other highly-priced cryptos. Much, however, also depends on the underlying tech and features that set it apart. BitTorrent, for example, is an interesting watch as it combines torrent file sharing with blockchain. The above five are all low-priced cryptos with high market caps.