As the popularity of cryptocurrencies grows, the demand for them increases exponentially. However, when introduced to the world of crypto, many new potential investors discover that the most well-known coins, namely Bitcoin and Ethereum, are too expensive for them.
What they fail to realize is that an investor or trader does not need to purchase a whole unit of any specific cryptocurrency to get exposure. One bitcoin, for example, is divisible into 100,000,000 satoshis (sats), named after the founder of the leading cryptocurrency.
This divisibility makes Bitcoin suitable for micropayments (especially when coupled with a secondary layer like the Lightning Network) and provides investors and traders the opportunity to acquire fractional ownership of one of these digital assets with as little as $10 or even less. Still, some investors prefer to have a whole unit of the crypto they invest in rather than a fraction.
Is this a reason to give up and switch one’s attention to another asset instead of crypto? By no means! Indeed, the most popular crypto coins can only seem accessible to experienced investors who are able to spend several hundred thousand dollars on them. However, in the world of crypto, there are numerous altcoins that, when approached correctly, can bring their holders no less benefit than Bitcoins. Moreover, the price of those coins is usually much more manageable even for a beginner investor.
Let’s discuss the most popular ones.
Litecoin (LTC)
Price as of January 19, 2024 – $83.
Litecoin is a relatively inexpensive cryptocurrency that runs on a technology known as proof-of-work. It is like Bitcoin in its fundamental nature, and its areas of application overlap with those of Bitcoin. In 2011, it made its debut as a fork of Bitcoin and was advertised as the ‘silver’ version of (gold) Bitcoin. Because it has a supply that is four times higher and a transaction speed that is four times higher than bitcoin, Litecoin is extensively utilized as a means of payment and is accepted by the majority of the most prominent financial institutions, such as BitPay and MoneyGram. When compared to Bitcoin, Litecoin’s transaction fees are far lower, and the processing times for transactions are significantly shorter. Litecoin’s broad use as a payment option has helped it gain wider adoption.
Cosmos (ATOM)
Price as of January 19, 2024 – $11,85.
After the failure of the Terra blockchain, a large number of developers made the transfer to Cosmos, making it one of the most popular decentralized networks among developers. It is currently put to use for a diverse range of applications in the modern world. As a direct result of this, widespread interest in ATOM, the blockchain’s native cryptocurrency, is on the rise. On the other hand, due to its modest cost, it is within reach of the majority of cryptocurrency aficionados. Cosmos has become an extremely significant asset to developers all over the world as a result of its affordable price and appealing feature set.
Chainlink (LINK)
Price as of January 19, 2024 – $6,41.
Chainlink is a blockchain network of decentralized oracles. It is used to transmit off-chain data from external sources to blockchains for their subsequent use in smart contracts. As a result of Chainlink’s widespread application in the domain of decentralized finance, the network’s native token, LINK, possesses a sizeable latent capacity for both expansion and a rise in notoriety in the years to come. The ability of the Chainlink network to safely transmit data between the “real world” and the “digital world” without jeopardizing the authenticity of any of these realms is one of the many compelling benefits offered by this system.
Polkadot (DOT)
Price as of January 19, 2024 – $5,76.
DOT is the native coin of the Polkadot blockchain. In the realm of cryptocurrencies, this network is regarded as one of the most prominent examples of decentralization. It is made up of a collection of independent autonomous networks that work together to ensure actions on the blockchain are carried out quickly and reliably. Polkadot is becoming increasingly popular as a result of the increasing trend toward decentralization among holders of cryptocurrency. This is due to the fact that the Polkadot blockchain was developed specifically to address a variety of the technological challenges that are common to other types of decentralized networks, such as scalability and interoperability.
Cardano (ADA)
Price as of January 19, 2024 – $0,23.
ADA is the native coin of the Cardano blockchain, a crypto network that operates based on a proof-of-stake protocol. In addition to the attractive price, investors and enthusiasts value this altcoin for the transaction processing speed that Cardano guarantees. Also, this blockchain is actively used to build decentralized applications, which greatly increases the range of things that ADA can do. This use of ADA as a medium of exchange has made the token increasingly attractive to traders and investors, not only due to its speed and low transaction fees, but also because its decentralized applications have proven to be reliable.
Dogecoin (DOGE)
Price as of January 19, 2024 – $0,08.
Dogecoin belongs to the category of so-called “meme coins”, which are altcoins that have gained recognition thanks to popular Internet memes. This coin got a significant boost in value after Elon Musk started actively promoting it on his newly acquired Twitter. Since then, Dogecoin has gone through considerable fluctuations in price, which can create numerous opportunities for short-term traders. Dogecoin is still relatively young, but it has become very popular with investors because of its low price and ease of use.
Bottom line
To invest in cryptocurrencies, you don’t necessarily need to have hundreds of thousands of dollars for the purchase of Bitcoin and Ethereum. Today, there are more than 20,000 types of cryptos in the world. Narrowing your choice down to only the two most popular options is neither wise nor practical. As such, investors have the opportunity to diversify their portfolio and choose cryptos that could potentially provide higher returns.
The list provided in the article above is far from exhaustive; it simply cites the most popular examples of altcoins that effectively perform their functions while having favorable prospects for the future. In turn, you can research the market independently and pick those cheap promising coins that meet your needs and financial capabilities. Nevertheless, caution is advised when entering the cryptocurrency market; never invest more than you are ready to lose and study the projects thoroughly before investing.
