The crypto market is not just about Bitcoin and Ethereum. There are numerous crypto projects that have strong growth potential and have been known to give investors good returns. But which ones are budget-friendly enough to suit a middle-class investor’s needs? This article will help you identify some of the best and cheapest cryptocurrencies in India today.
10 cheapest cryptocurrencies to invest in 2022
With over 13,000 crypto tokens being traded in the market in 2022, choosing a good cryptocurrency project with strong growth potential can be tricky—especially for new investors. And if you want to ensure that your investment is pocket-friendly too, that makes it all the more difficult.
That’s why we are presenting a selection of some of the best coins priced below $1. Each of them ranks among the top 100 crypto assets by market capitalization as of 12 August 2022.
This list will help make tracking their performance easier. The coins listed have decent trading volumes, which means that buying and selling them should be easy. We have excluded memecoins from the list as they can be more prone to pump-and-dump schemes.
That said, let’s get to the list. The following are the best and the cheapest cryptocurrencies to invest in 2022.
Price (as of 30 August 2022): $0.3313
Ripple is a peer-to-peer global payment settlement and remittance platform built as an alternative to the expensive SWIFT payment system. It facilitates the instant, cross-border transfer and exchange of a variety of fiat currencies and cryptocurrencies on its network.
Ripple is one of the oldest decentralized crypto projects in the market. It was launched in 2012 by angel investor Chris Larsen and programmer Jed McCaleb.
XRP is the native token of the network. It made the current all-time high level of $3.37 during the bull run of 2017.
Price (as of 30 August 2022): $0.4623
Cardano is a proof-of-stake blockchain platform that supports smart contracts functionality and is one of the highly scalable blockchain platforms. Developers can use it to build and run dApps on its blockchain with a multi-asset ledger and verifiable smart contracts. Regarded as one of the “Ethereum Killers” in the market, Cardano can handle up to 2 million transactions per second.
The blockchain platform was founded in 2015, and the mainnet was launched in September 2017 by Ethereum co-founder Charles Hoskinson.
Cardano’s native token, ADA, reached the present all-time high of $3.10 in November 2021.
Price (as of 30 August 2022): $0.06311
Tron is an open-source blockchain platform that aims to create a distributed web. It uses the delegated proof-of-stake consensus mechanism.
The project attracted much attention during its launch in 2017. It was created by an entrepreneur named Justin Sun. At the time of the launch, Tron worked on Ethereum, but later switched to its own blockchain network in 2018.
Recently, Tron put our an algorithmic stablecoin named USDD. The stablecoin has a circulating supply of 745 million. Its all-time high of $0.22 was made in December 2017.
Price (as of 30 August 2022): $0.2992
Algorand is a proof-of-stake (PoS) blockchain platform that expands our imagination of the potential uses of cryptocurrencies. Designed to function as a payment processor, Algorand allows transactions to be processed at high speeds—much like MasterCard or Visa.
The platform was created by MIT professor and computer scientist Silvio Micali, and it was officially launched in 2019.
ALGO’s all-time high level is $2.37, which it touched in November 2021.
Price (as of 30 August 2022): $0.02507
VeChain is an enterprise-grade smart contract protocol. It aims to simplify complex supply chain management processes and improve their efficiency using blockchain technology. The protocol is used by some of the world’s largest manufacturers and retailers, including BMW, Walmart, and LVMH.
The protocol was co-founded, in 2015, by Sunny Lu, a former Chief Information Officer at Louis Vuitton China, and Jay Zhang, a financial and risk management expert.
VET is the native token of the VeChain Thor blockchain. It reached the all-time high of $0.2546 in April 2021.
Basic Attention Token (BAT)
Price (as of 30 August 2022): $0.348
Basic Attention Token (BAT) is an ERC-20 token associated with the Brave web browser. The network rewards Brave users for their time and attention when they visit websites and consume digital ads via the browser.
The Brave browser enables equal and efficient ad revenue distribution between platforms, distributors, and web users. It aims to streamline commerce between all three sets of users, show relevant ad content to users, and provide a superior return on investment to advertisers and ad publishers.
Brave was founded in 2015 by software developer Brian Bondy and Brendan Eich, the co-founder of the Mozilla Firefox web browser. It reached an all-time high level of $1.76 in November 2021.
Price (as of 30 August 2022): $0.3663
Ex-Google software engineer Daniel Wang founded Loopring in 2017. The platform enables the building of non-custodial order book-based decentralized exchanges on the Ethereum platform. The aim is to make the exchange and trading of various Ethereum-based crypto assets via decentralized exchanges faster and cheaper. Loopring tries to achieve this aim through the use of zero-knowledge rollups (a.k.a. ZK rollups).
Most decentralized exchanges on Ethereum take a few minutes to confirm a trade. But Loopring is attempting to make transactions happen in seconds while reducing the cost and not compromising on safety.
LRC is the native token Loopring protocol, and its all-time high is $3.37—a number it made in November 2021.
Price (as of 30 August 2022): $0.03717
Zilliqa is a Layer-1 blockchain protocol that allows developers to create more user-friendly decentralized applications (dApps). It uses proof-of-work (PoW) and the Practical Byzantine Fault Tolerance (PBFT) to secure its network. Zilliqa is the first blockchain platform to use sharding to improve the scalability of the network.
Zilliqa has its native own programming language called Scilla. The use of Scilla allows developers to write and launch highly customizable dApps that intend to replicate real-world scenarios.
The protocol was launched in June 2017 by Amrit Kumar and Xinshu Don, both former researchers at the National University of Singapore. The mainnet went live in January 2019.
ZIL is the native token of the Zilliqa blockchain. It made the all-time high level of $0.2376 in April 2021.
1inch Network (1INCH)
Price (as of 30 August 2022): $0.6789
1inch Network is a DeFi protocol and exchange aggregator that scans decentralized exchanges to provide users the best rates and the lowest trading fees. The protocol built on Ethereum was founded by software engineer Sergej Kunz and developer Anton Bukov during an ETHGlobal Hackathon in May 2019. The platform was launched in December 2020.
1INCH is the utility and governance token of the protocol that can be held, staked, exchanged, or spent on the platform. It touched the all-time high of $7.74 in May 2021.
Price (as of 30 August 2022): $0.05232
Gala is a blockchain gaming platform that lets users be in complete control of in-game items and new game additions. The platform offers many games to players built on the Gala Network. The blockchain gaming start-up was founded by Eric Schiermeyer.
GALA is the native utility token of the Gala Network. It can be used to purchase in-game items as NFTs. The token reached the all-time high level of $0.7088 in November 2021.
The coins discussed above are from some of the most popular and cheap cryptocurrencies to buy. Each of them has witnessed strong user adoption and usually experience high trading volumes. However, if you are considering adding any of these to your crypto portfolio, you should research them thoroughly beforehand. And don’t forget, it is important to always invest as per your risk tolerance level.