There are several altcoins available on various cryptocurrency exchanges. However, not all of them have good potential for growth. It is quite easy to make money by investing in the right altcoins, but it is equally easy to lose money by investing in the wrong cryptocurrencies. We’ve put together a full list of cheap altcoins that are expected to grow, to help you decide what to invest in.
Cheap Altcoins with Growth Potential
The altcoins listed below are cryptocurrencies with good track records and potential for future growth. Check them out.
- Ripple (XRP)
XRP is an open-source cryptocurrency developed by Ripple to facilitate faster and more reliable transactions at a lower cost.
Ripple is involved in a lawsuit over whether it was registered as a currency or security. Despite the uncertainty surrounding the lawsuits, some speculators predict that XRP could reach $4 by 2025. With its price still under a dollar, now is a good entry point for investors looking for a cheap crypto with potential. Another reason Ripple is expected to grow is its environmental consciousness.
- Dogecoin (DOGE)
Dogecoin originated as a bitcoin satire, but the profits made by some investors in this altcoin is no joke. The cryptocurrency rose steeply in 2021 due to hype by Elon Musk. He also announced in December 2021 that “Tesla will make some merch buyable with Doge and see how it goes.”
Dogecoin is ridiculously cheap, with prices as low as $0.07 per coin. Like the rest of the crypto market, DOGE has been on a bearish trend since the beginning of the year, but many investors see the dip as a buying opportunity.
- Cardano (ADA)
Cardano is one of the early altcoins to adopt the proof-of-stake mechanism, which is more energy efficient than the proof-of-work consensus mechanism that Bitcoin uses. So far, it has had an impressive track record, processing over 20 million transactions last year. Cardano has several upcoming projects, which are expected to drive the price higher. Cardano is still very cheap, and the price is predicted to grow further, most likely surpassing its all-time high of $3.10.
- Tron (TRX)
Tron is a blockchain that can be used to share media content and create decentralized applications (dApps). It is one of the most popular crypto assets and is great for investors who want a cheap crypto asset with low volatility. Another attraction of TRX is the absence of transaction fees.
Tron is among the top 25 most valuable cryptocurrencies with a market cap of almost $7.5 billion. With its price still under a dollar, it is one of the best cheap altcoins you can buy.
- Stellar (XLM)
Stellar is a payment network that uses Lumens as its currency. This crypto has a strong road map, which will influence its growth in the coming years. The objective of the crypto project is to create a single network that supports all financial systems around the world. This means that Stellar can be used to send digital representations of any fiat currency as well as other digital currencies.
With a market capitalization of $25 billion, this cryptocurrency is extremely valuable. XLM has an all-time high of $0.79, and many speculators think that it could hit $1.75 by 2025, so this could be a good time to invest.
- Solana (SOL)
Solana runs on a unique hybrid proof-of-stake and proof-of-history consensus mechanism for quick and secure transactions. It was developed to power Decentralized Finance (DeFi) and dApps. It is one of the quickest blockchains available and is very popular among cryptocurrency speculators. Because of the growing number of users, Solana is projected to rise even further.
Conclusion
The altcoins mentioned above all have high growth potential, but they are not the only ones. Altcoins can be purchased through their official platforms. You can also use fiat money or another cryptocurrency to buy altcoins on a reliable crypto exchange.
