Cardano (ADA), XRP (XRP): 2 cryptos under $1 to watch out for in 2022

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Cardano (ADA), XRP (XRP): 2 cryptos under $1 to watch out for in 2022

 Cardano (ADA), XRP (XRP): 2 cryptos under $1 to watch out for in 2022
Image source: © 2022 Kalkine Media®

Highlights:

  • Cryptocurrencies have seen a meteoric rise in their popularity.
  • Cardano works on the PoS model, which consumes less energy.
  • XRP enterprise-grade solutions are faster, transparent and more cost-effective than conventional financial services.

With the growing popularity of cryptocurrencies, many tech-savvy investors are charmed into investing in them. While some of the largest cryptos like Bitcoin and Ethereum are very expensive, there are several altcoins that are affordable and faring well.

Hence, in this article, we will talk about two cryptocurrencies worth less than $1 each that can be explored this year.

 

Source: © 2022 Kalkine Media®

Cardano

First on the list is Cardano, which is currently priced at US$0.4519, down 2.58% over the last 24 hours.

Launched by Charles Hoskinson, Cardano is an open-source blockchain platform developed on peer-reviewed research and aims to bring about positive global change by helping create a more secure, transparent and fair society. Its native coin is called ADA.

The ‘Alonzo’ hard fork introduced last year, has brought smart contract functionality to Cardano’s blockchain.

It utilises the proof-of-stake, i.e., PoS consensus model, which consumes less energy than the PoW (proof-of-work) mechanism used by Bitcoin. It is pointed out that Ouroboros is Cardano’s PoS protocol, which enables the network’s decentralisation, thereby ensuring the platform to sustainably scale to global requirements without any compromise on security.

At the time of writing, in terms of market cap, Cardano is ranked eighth among the top cryptos worldwide, and there are 33.75 billion ADA coins in circulation, while the maximum supply is 45 billion coins.

The crypto is available on various crypto exchanges like Binance, Bitget, Bybit, OKX, etc.

XRP

Coming up next is XRP, which is another cheap cryptocurrency priced at US$0.317148, as of now, declining 2.47% over the previous day.

XRP works as open source, permissionless, and decentralised technology, which aims to transform the global financial services space. Its in-house token is called XRP.

It boasts higher speed and scalability coupled with low costs as compared to its peers. The platform enables effective and affordable cross-border payments and settles transactions within 3-5 seconds. Moreover, the crypto boasts of being less carbon intensive, making it one of the greener cryptocurrencies.

It makes use of the Federated Consensus mechanism for validating transactions.

Currently, XRP is ranked seventh worldwide in terms of market cap and has 48.34 billion XRP coins in circulation. The maximum supply of XRP coins is 100 billion.

XRP can be bought from various crypto exchanges like Binance, FTX, Houbi, and Bitstamp.

Bottom Line

Cryptocurrency investments must be made with caution and due vigilance as crypto markets are extremely volatile and risky.

 

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.

 

 

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