Cryptocurrencies are all around the world. The recent bitcoin era witnessed a huge population expressing keen interest in the technology, thereby attracting more and more investors to trade. One of the famous ones is bitcoin, a digital asset that gained a consequential position in the global market. Many growing firms are now accepting cryptocurrencies as a form of legitimate payment, which makes the present time ideal to invest in it. However, not all cryptocurrencies are reasonable to trade and thus require certain analysis. If you are planning to invest in cryptocurrencies you need to choose a trusted exchange like Immediate Edge .
CARDANO (ADA)
With a price value of $1.68 and a flexible nature, Cardano offers fast transactions and is one of the most popular cryptocurrencies today. Cardano was developed by the co-founder of Ethereum, Charles Hoskinson, with an aim to focus on selling points such as scalability, sustainability, and interoperability. The recent update added further features such as smart contracts, increased price, decentralized applications, DeFi field, and new digital assets. Not only a lower transaction fee, but the digital coin also has a strong development team working, which focuses on overcoming challenges and establishing themselves in the competitive crypto world.
Cardano along with some other altcoins are collectively termed as “Ethereum killer” which hit its all-time high price of INR 219.50 in August 2021, centering around the Indian audience.
LITECOIN
Litcoin was formed in order to resolve the issues of Bitcoins when it first came out. This led it to be named the “Silver to Bitcoin’s gold” due to its extensive adoption. Litecoin has witnessed a steady rate of growth in the market and is now accepted by over 3000 firms and stores all over the world. For example, the coin was made an official crypto asset by the Miami Dolphins.
At a price value of INR 11,820 (as of January 2022) it might not be the cheapest but a worthy coin to invest in. The value has risen by over three times since November 2020. With a ranking position of 22 in terms of the market app, Litecoin can be seen as a potentially strong digital crypto that can reach up to the mark of INR 30,000 soon.
TEZOS (XTZ)
Another one on the list is Tezos. Also referred to as the “eco-friendly cryptocurrency”, Tezos price value has risen by up to 95% since August 2021. At present, it has a market capitalization of $4.5 billion and ranks at 43, although it is growing at a remarkable rate. Another prominent thing about tezos is their similarity to Ethereum. The crypto enables smart contracts and stands out because of its evolving infrastructure. Security and sustainability are pivotal factors of the network. One Tezos has a price value of INR 389.94 as of 5 January 2022.
DOGECOIN
After dealing with significant challenges, dogecoin has regained its value and is currently being traded at $0.2223, thanks to Elon Musk. Developed in 2013, Doge is currently one of the most efficient forms of crypto that allows viable investment options and is considered as one of the most potential and cheap forms of crypto investment in 2022. The digital currency has been on an on and off ride over the past four months making a comeback with more than an 800% rise so far. The controversial coin has attained the all-time high price of $80 billion.
BITTORRENT
BitTorrent currency or BTT is a form of cryptographic token which was developed as an additional extension to the BitTorrent protocol. The platform is used to expand the capabilities of the protocol to formulate working infrastructure, eliminate third-party access, and provide safe and fast decentralized data storage. The latest price value of BitTorrent was set to be around $0.002611.
SUMMARY
One needs to perform specific analyses and research in order to find the right coin for them to invest in. Bitcoin does offer a higher price value however is extremely volatile which may lead to investment loss. On the other hand, there are plenty of cryptocurrencies that have the possibility to grow in the market with a much cheaper price value. Not only do they provide a more acceptable solution for transactional cost and utility but focus on other aspects such as security and scalability too.
As the cryptocurrency market continues to grow, investors are looking for the best and cheapest options to invest in. With the potential for huge returns, it is important to consider the risks associated with investing in cryptocurrencies.
In this article, we will look at five of the cheapest but potential cryptocurrencies to invest in for 2022. We will discuss the advantages and disadvantages of each, as well as the potential risks associated with investing in them.
The first cryptocurrency to consider is Ripple (XRP). Ripple is a digital asset that is used to facilitate international payments. It is one of the most popular cryptocurrencies and is currently the third-largest cryptocurrency by market capitalization. Ripple has a low transaction fee and is fast and secure. It is also backed by major banks and financial institutions, making it a reliable option for investors.
The second cryptocurrency to consider is Ethereum (ETH). Ethereum is a decentralized platform that enables developers to build and deploy decentralized applications. It is the second-largest cryptocurrency by market capitalization and is widely used for smart contracts and decentralized finance. Ethereum is also backed by major banks and financial institutions, making it a reliable option for investors.
The third cryptocurrency to consider is Litecoin (LTC). Litecoin is a peer-to-peer cryptocurrency that is designed to be a faster and more efficient alternative to Bitcoin. It is the fourth-largest cryptocurrency by market capitalization and is widely used for payments and transactions. Litecoin is also backed by major banks and financial institutions, making it a reliable option for investors.
The fourth cryptocurrency to consider is Cardano (ADA). Cardano is a blockchain-based platform that is designed to enable developers to build and deploy decentralized applications. It is the fifth-largest cryptocurrency by market capitalization and is widely used for smart contracts and decentralized finance. Cardano is also backed by major banks and financial institutions, making it a reliable option for investors.
The fifth cryptocurrency to consider is Dogecoin (DOGE). Dogecoin is a peer-to-peer cryptocurrency that is designed to be a fun and friendly alternative to Bitcoin. It is the sixth-largest cryptocurrency by market capitalization and is widely used for payments and transactions. Dogecoin is also backed by major banks and financial institutions, making it a reliable option for investors.
Investing in cryptocurrencies can be a risky endeavor, and investors should always do their own research before investing. It is important to understand the risks associated with each cryptocurrency and to make sure that the investment is suitable for the investor’s individual circumstances.
It is also important to remember that the cryptocurrency market is highly volatile and that prices can go up and down quickly. Investors should always be prepared to lose some or all of their investment.
Investing in cryptocurrencies can be a great way to diversify a portfolio and potentially make a profit. However, it is important to remember that the cryptocurrency market is highly volatile and that prices can go up and down quickly. Investors should always do their own research before investing and be prepared to lose some or all of their investment.
