13 Cheap Cryptocurrencies With the Highest Potential Upside for You

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Cryptocurrencies are all the rage these days, particularly with speculative investors. What used to be a “fringe” investment is now front and center. Even financial networks like CNBC talk about bitcoin daily and keep a ticker up on the screen showing the current price.

Put this all together and now even the average investor is well aware of bitcoin and the cryptocurrency movement. However, bitcoin is not the only cryptocurrency out there.

There are plenty of other options if you want to get your crypto fix away from the big names. Just be aware that each cryptocurrency is unique, and you should consult your financial advisor before you invest in any of these speculative products.

What Are the Top Cheap Cryptos To Buy?

If you’re ready to invest, check out the 13 cheap cryptocurrencies that could generate nice returns in 2024 and beyond:

1. XRP (XRP)
2. Dogecoin (DOGE)
3. Chainlink (LINK)
4. Uniswap (UNI)
5. Cardano (ADA)
6. Polygon (POL — Formerly MATIC)
7. Stellar (XLM)
8. The Sandbox (SAND)
9. Decentraland (MANA)
10. NEAR Protocol (NEAR)
11. Tron (TRX)
12. Wall Street Memes (WSM)
13. Metacade (MCADE)

1. XRP (XRP)

• Coin price as of Sept. 17: $0.589

XRP is an open-source cryptocurrency that uses an open-source distributed ledger called XRP Ledger. It was developed by Ripple, an enterprise blockchain company that facilitates global transactions. Ripple says XRP was built for payments and can settle transactions faster, more reliably and at a lower cost than is possible over standard global payment infrastructure.

Ripple has been embroiled in a lawsuit brought by the U.S. Securities and Exchange Commission, which alleged it engaged in unregistered securities trading. Last year, a judge issued a summary judgement that said Ripple’s sales to institutional investors did, in fact, constitute securities transactions, while sales to retail investors who purchased through trading platforms did not. Ripple faced up to $2 billion in fines and penalties.

In the months leading up to the penalty decision, whales — digital wallet addresses holding large amounts of crypto — went on a buying spree in anticipation of a ruling in Ripple’s favor, increasing holdings by 110 million coins between March and June, according to CoinMarketCap. The case ended in August with Ripple owing a greatly reduced fine of $125 million. However, that news had negligible effect on XRP’s price.

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2. Dogecoin (DOGE)

• Coin price as of Sept. 17: $0.1014

Dogecoin originated as something of a joke, but it has become quite real for those who have profited from it. The coin is certainly “cheap” at less than $0.11 per coin as of Sept. 17, especially compared to its 52-week high of $0.2266.

Unlike many other cheap cryptocurrencies that serve actual functions, dogecoin was created as a satirical take on bitcoin. The coin has a history of rising and falling based on hype and tweets by Elon Musk. It spiked in the weeks leading up to Musk’s 2022 purchase of Twitter but has fallen sharply since then.

Of course, that likely doesn’t matter to those who have generated real profits and who are still searching for cheap cryptocurrencies.

3. Chainlink (LINK)

• Coin price as of Sept. 17: $10.67

Chainlink is another Ethereum token that powers the Chainlink decentralized oracle network. This network is used to securely connect to external data sources, APIs and payment systems.

Chainlink describes itself as enabling real-world data and off-chain computation to expand the capabilities of smart contracts while maintaining the upsides of blockchain technology — namely, its security and reliability guarantees. The chainlink price typically moves in fits and starts, but it has been holding its own since late last year.

4. Uniswap (UNI)

• Coin price as of Sept. 17: $6.83

As a major player among decentralized exchanges, Uniswap automates the trading of decentralized finance tokens between coin holders, allowing anyone who holds coins to create a liquidity pool for any token pair they choose.

Although highly volatile, Uniswap has the advantage of having been an early player in the decentralized exchange space, U.S. News reported. In 2023, the coin surpassed $1 trillion in total trading volume, albeit from just 3.9 million addresses, suggesting UNI still had plenty of room for growth.

5. Cardano (ADA)

• Coin price as of Sept. 17: $0.3353

At less than $1, Cardano remains one of the cheapest cryptocurrencies.

According to Coinbase, Cardano is a blockchain platform built on a proof-of-stake consensus protocol called Ouroboros, which can validate transactions without high energy costs. Its developers say Ouroboros allows the Cardano network’s decentralization and provides the ability to sustainably scale to global requirements without compromising security.

Development on Cardano uses the Haskell programming language. The symbol for the Cardano token, ADA, comes from the 19th-century mathematician Ada Lovelace.

So far, Cardano has an impressive record. By late 2021, it had processed over 20 million transactions with no downtime, according to InvestorPlace. It has become a popular blockchain for non-fungible token marketplaces and DeFi transaction exchanges.

An upgrade called Hydra, which is being implemented in a series of protocols, should increase processing feeds dramatically, InvestorPlace reported, which could eventually trigger higher prices.

6. Polygon (POL — Formerly MATIC)

• Coin price as of Sept. 17: $0.3814

Polygon is a decentralized application built on the Ethereum network. It’s meant to expand Ethereum into a multichain system. Polygon is backed by Coinbase and Binance. This application could be the solution developers need to deploy decentralized applications faster, more efficiently and less expensively, Benzinga noted. The publication called matic the most promising “layer two” token — that is, one built on an existing blockchain.

Developers recently upgraded matic to a new Polygon network token called pol. While the token is listed under both tickers, a matic-to-pol conversion is underway.

Analysts say Polygon is backed by a strong team and sound technology, which makes pol a good bet in the longer term.

7. Stellar (XLM)

• Coin price as of Sept. 17: $0.0951

Stellar is its own payment network, and it uses stellar lumens as its currency. While the network can be used by anyone, it was envisioned to connect financial institutions making large transactions. On the Stellar network, these types of transactions can be done nearly instantaneously at little to no cost. This sets it apart from traditional and competing blockchain networks.

The price of stellar lumens has been comparatively volatile, and it hasn’t had massive gains high performers have seen. Traditionally, XLM and bitcoin prices have moved in the same direction, according to InvestorPlace. It’s possible that XLM could grow in bitcoin’s wake.

8. The Sandbox (SAND)

• Coin price as of Sept. 17: $0.2536

The Sandbox is a blockchain-based metaverse. It’s like a virtual game that uses a “play-to-earn” model that lets users create, buy, sell and collect digital assets in the form of NFTs. They can also create and monetize their own games and earn SAND whenever someone plays them, Benzinga explained.

Pixowl created the game in 2011 to introduce blockchain to mainstream gaming, according to CoinMarketCap. Investors include Atari, Helix and CryptoKitties.

With the current hype around metaverses, blockchain games like The Sandbox might just be getting started. Prices are up around 21% since a 52-week low of $0.2098.

9. Decentraland (MANA)

• Coin price as of Sept. 17: $0.2769

Decentraland is the token behind an Ethereum blockchain-based virtual reality game of the same name. Securities.io described Decentraland as a 3D virtual world where users buy land to develop and monetize content, buy goods and services and visit other properties.

As a metaverse innovator, Decentraland has been signed by Versus Entertainment to help develop its film adaptation of “The Infinite Machine.” The film will tell the story of Ethereum co-founder Vitalik Buterin, Variety reported. Major retailers have opened digital stores in Decentraland’s metaverse, including Samsung, Forever 21, Tommy Hilfiger and Estee Lauder.

10. NEAR Protocol (NEAR)

• Coin price as of Sept. 17: $4.18

NEAR Protocol is a layer-one blockchain designed to be a community-operated cloud computing platform with faster transaction speeds, better output and increased interoperability compared to competing blockchains, according to CoinMarketCap.

It lacks the maturity of some of this list’s other blockchains. But the collective tasked with updating the initial code and releasing the updates aims to make a highly secure platform that can manage high-value assets like money and identity while providing functionality for “everyday people.”

A proof-of-stake mechanism called Doomslug secures the platform without driving up costs. Nightshade technology splits up the blockchain’s transaction history to speed up processing, Benzinga reported. The project has the potential to reduce barriers to Web3 adoption — Web3 being the catchphrase for a blockchain-based internet.

To that end, NEAR Protocol recently partnered with Google Cloud. Google Cloud will provide technical support for NEAR Foundation grant recipients as they develop and scale their Web3 projects and decentralized applications, according to the NEAR Foundation.

The coin has seen staggering growth since its 52-week low, although it’s down from a recent high of $8.99 this year.

11. Tron (TRX)

• Coin price as of Sept. 17: $0.1502

With over 250 million accounts and 8.26 billion transactions under its belt, Tron is the world’s fastest-growing public blockchain. Its Tron Protocol processes transactions faster than Ethereum and Bitcoin. It’s also highly scalable and smart-contract compatible. Core partners include Samsung, BitTorrent and Swisscom.

Although one of the cheapest cryptos out there, TRX is worth about 7,410% more as of Sept. 17 than when it was introduced in 2017. A $13 billion market cap makes it the 10th largest coin by that metric.

12. Wall Street Memes (WSM)

• Coin price as of Sept. 17: $0.003

Wall Street Memes (WSM) is a recently launched meme coin. The crypto project is using a large social media following to develop community support, and has raised over $30 million so far. The community has a published aim of hitting a $1 billion market capitalization.

According to the community page, this coin was born from the Wall Street Memes movement. It states, “‘Greed is good,’ said Gordon Gekko in the ’80s as he got rich off useless stocks. Around 30 years later, hundreds of arguably even more useless meme coins allow ordinary people to do the same.”

WSM was falling while more serious coins were bouncing back last year, and like many coins, it has fallen this year. Risky as WSM is, if DOGE and SHIB have taught cryptocurrency investors anything, it’s to never assume a meme coin is down for the count.

13. Metacade (MCADE)

• Coin price as of Sept. 17: $0.006

Metacade (MCADE) is one of the cheapest cryptocurrencies. It’s tied to a gaming platform based on the Ethereum network. The goal of the crypto community is to build itself into the gaming industry by providing new blockchain technologies. It recently partnered with the Blockchain Game Alliance and BandZaiGames and predicts major gaming companies like Ubisoft and Zynga will come on board this year, according to W3 Play’s PlayToEarnGames website.

You can earn MCADE through game testing and contributing as a community member.

Summary

The right crypto purchase could make a big difference to your financial situation. But the reality is the world of crypto is fraught with risk. As you explore your options, consider your other financial goals. In general, crypto should make up a small portion of your portfolio to mitigate risks.

Daria Uhlig and Sarah Sharkey contributed to the reporting for this article.

Data is accurate as of Sept. 17, 2024, and is subject to change.

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