Nowadays there are so many cryptocurrencies on the market and it can be difficult to a) discern which are promising investments and b) which represent the best value for its money.
Take Bitcoin for example, with the way it is rising at the moment you could easily argue that it meets criteria A of being a promising investment. But, if you actually wanted to buy Bitcoin it would set you back over $10,000 currently. In that respect, it might not represent the best value for money. It certainly wouldn’t represent the best value for money if you are a bit OCD and need to own the whole coin.
With that in mind, I have highlighted 5 cryptocurrencies that match the two criteria above and better still, are under $10 per coin.
We are going to kick-start this list in the bargain basement of cryptocurrency. Nano has been around for a short while now and aims to be a simple version of the larger cryptocurrencies. It has no transaction fees, a very basic blockchain system and a value of around $1 per coin.
It hasn’t broken the billion-dollar mark in market capitalization (not even close) and has been traded at an all-time high of around $35.
Because it is so cheap compared to its highest coin price, it could just be the next best investment, but be aware that Nano doesn’t enjoy much popularity within the cryptocurrency community. Instead, it is seen as a fringe altcoin that could one day find its place at the bigger table but hasn’t just yet.
Moving on from the super cheap Nano, we reach EOS. EOS is currently at the center of a kind of a cryptocurrency scandal and is linked to a Ponzi scheme that is currently dumping large volumes of Bitcoin (which is the main reason for its recent significant downturn). At the moment it is unclear exactly what has gone on and authorities are investigating the perpetrators and scrutinizing EOS closely.
Like Bitcoin, EOS has been dumped off by this scheme and the value has dropped considerably. This means that although it was trading fairly comfortably a month ago, its price is now very low, around the $3 mark.
EOS should recover from this but there is currently a huge amount of uncertainty around the coin and it might be a slow healing process. It has lost two-thirds of its price in the last month alone and continues to drop. Potentially a good coin to watch with an all-time high around $20.
It is amazing to think that such a tremendously successful cryptocurrency is still trading at such low prices. In fact, XRP is currently around 25 cents. Yep, you read that right. The reason it has yet to surge in value is that the payment protocol XRP serves requires huge volumes of XRP to function well.
This means that the sheer volume of XRP in circulation is keeping the price rock bottom. As the Ripple protocol grows and the functionality becomes more entwined with real-world payment services, XRP could start to climb in value meaningfully.
Currently yours for a quarter, you can be sure of one thing, XRP will keep on being in the top 5 for a while. With a trading high of around $3.50, why not splash out and treat yourself to a bit of XRP.
Tezos is currently trading at around the $1 mark and has seen highs of over $10. It sits in the same kind of realm as Nano, in that it has gained a bit of traction but isn’t yet widely popular among the cryptocurrency community. It also (like Nano) hasn’t got a billion dollars in market capitalization.
Tezos is not a bad cryptocurrency though, it has a good potential of growth and like Nano has its own unique selling points. Chief among these is that users and traders have voting rights on changes to the platform which makes it a decentralized democracy.
Whether or not it gains the traction to reach its previous all-time high remains to be seen, but it is a nice addition to the cryptocurrency market all the same.
Ethereum Classic (ETC)
Ethereum Classic bears the name of its bigger brother Ethereum but nowhere near the value. In fact, you can pick up Ethereum Classic for around $6 and the potential doesn’t stop there. It has an all-time high of over $40 and it has the potential to recover to close to that if not surpass it.
Holding it back at the moment is the slow performance of its bigger brother Ethereum (all spin-offs tend to be market-lead by their originals) as well as a current downturn in the overall market (see EOS). Ethereum Classic is a popular coin among purists and its “code is the law” ethos is a mantra that many crypto enthusiasts get behind.
There is one last coin worth mentioning at the under $10 mark.
USD Coin (USDC)
The scrutiny is still on USD Coin and it has yet to show any positive signals that it isn’t a scam. I thought I should include it in this list because it is currently trading around 80 cents, which for a currency that claims to have a US dollar backing every coin shouldn’t be the case. Pay attention to further news as it develops around USD Coin as information is coming in almost daily now.
The market is volatile in general so any of the coins on this list could be good or poor investments, make sure you read up on the currencies before putting your money in and this should in no way be considered an investment advice article.
Are there any bargain coins you think should get a mention? Let me know in the comments below and stay safe when trading!