Best Cheap Crypto to Buy Now: Top Picks for 2024

The cryptocurrency market has grown exponentially over the past decade, with thousands of tokens available for trading. While Bitcoin and Ethereum are the most well-known and expensive cryptocurrencies, there are many cheap crypto options that may offer substantial growth potential. In fact, many investors look for low-priced coins because they believe these assets have the potential to increase in value over time as adoption grows or new technological advancements are made.

If you’re looking to invest in the best cheap crypto to buy now, you’re not alone. Many investors are drawn to low-priced cryptocurrencies with high upside potential, especially in a market where volatility often brings sudden shifts. This article will highlight some of the best cheap cryptos to buy today, based on their fundamentals, use cases, and long-term growth potential.

1. Ripple (XRP): The Cross-Border Payment Solution

Overview: Ripple (XRP) is a digital currency and payment protocol designed to facilitate fast, low-cost cross-border transactions. XRP is used by financial institutions and banks for real-time payments, which is the core functionality of Ripple’s network. It has been in the market since 2012 and has maintained strong liquidity and market capitalization despite facing regulatory challenges.

Why XRP is a Good Investment:

• Adoption by Financial Institutions: XRP is already being used by several major financial institutions and banks for cross-border payments. Ripple’s partnerships with companies like Santander and American Express demonstrate its utility in real-world financial services.
• Speed and Low Fees: XRP transactions are processed in seconds, with extremely low fees, which makes it a competitive alternative to traditional payment networks like SWIFT.
• Regulatory Clarity: While XRP has been embroiled in a legal battle with the SEC regarding its classification as a security, a favorable resolution of this lawsuit could drive substantial growth for the token, potentially making it a bargain at its current price.

Risks: The outcome of the ongoing lawsuit with the SEC is uncertain, and a negative ruling could have a significant impact on XRP’s value. Additionally, its centralized nature, with a significant portion of its supply controlled by Ripple Labs, has drawn criticism.

2. Stellar (XLM): The Blockchain for Cross-Border Payments

Overview: Stellar (XLM) is a decentralized blockchain network designed to facilitate cross-border transactions and micro-payments. It was created by Jed McCaleb, one of Ripple’s co-founders, and aims to create a financial system that works for everyone, including unbanked populations.

Why Stellar is a Good Investment:

• Real-World Use Cases: Stellar focuses on bringing financial inclusion by enabling fast, low-cost transactions between individuals, banks, and payment systems. It has partnered with large organizations like IBM, which uses Stellar’s blockchain for its World Wire payment system.
• Focus on Developing Markets: Stellar is particularly focused on emerging markets where traditional banking services are limited. This focus on financial inclusion has the potential to make it a long-term player in the global economy.
• Low-Cost and Fast Transactions: Stellar’s transactions are processed within seconds and come with low transaction fees, making it an attractive option for businesses and individuals seeking affordable cross-border payments.

Risks: The competition in the cross-border payments space is fierce, with both Ripple (XRP) and traditional payment systems such as SWIFT and PayPal offering similar solutions. Stellar’s ability to gain market share will depend on its continued partnerships and real-world adoption.

3. VeChain (VET): The Blockchain for Supply Chain Management

Overview: VeChain (VET) is a blockchain platform  best crypto to buy today that focuses on improving supply chain and business processes by allowing businesses to track products through every stage of the supply chain. Using smart contracts, VeChain creates a transparent and efficient way to track products from production to delivery.

Why VeChain is a Good Investment:

• Strong Partnerships: VeChain has established partnerships with major companies like DNV GL, PwC, and BMW. These partnerships signal that VeChain’s technology is being adopted by big players in industries like logistics, automotive, and luxury goods.
• Real-World Use Case: The supply chain sector is ripe for disruption, and VeChain’s ability to increase transparency and reduce fraud in product tracking gives it a significant edge.
• Low Price, High Potential: VET is priced relatively low compared to other blockchain projects, and as adoption grows, its value could see substantial increases. The coin’s supply is also limited, adding to its scarcity.

Risks: As with many blockchain projects, the ultimate success of VeChain depends on its ability to scale and convince industries to adopt its technology. The supply chain space is highly competitive, and other blockchain platforms may pose a threat to VeChain’s growth.

4. Shiba Inu (SHIB): The Meme Coin with a Growing Ecosystem

Overview: Shiba Inu (SHIB) is often dubbed the “Doge killer,” as it was created as a meme coin with a dog logo similar to that of Dogecoin. Despite its origin, Shiba Inu has developed a strong community and ecosystem, and its price has seen rapid spikes due to community-driven efforts.

Why Shiba Inu is a Good Investment:

• Community and Hype: The Shiba Inu community is one of the most passionate in the cryptocurrency space, and the project benefits from a strong social media presence. Community-driven initiatives, such as burns, have helped drive up the price at times.
• Expanding Ecosystem: Shiba Inu has grown beyond being just a meme coin. The project now has ShibaSwap, a decentralized exchange (DEX), and is working on building out its ecosystem, including developing NFTs and even launching its own layer-2 blockchain, Shibarium.
• Low Price, High Supply: Shiba Inu’s extremely low price point makes it accessible for small investors. While the coin has a huge supply, the possibility of future burning events and increased utility could increase demand for SHIB.

Risks: Shiba Inu’s value is highly speculative and driven by market sentiment rather than fundamental use cases. While the community is large, the long-term value proposition of SHIB remains unclear, and the market could lose interest if it does not expand its use case.

5. Dogecoin (DOGE): The Original Meme Coin

Overview: Dogecoin (DOGE) was originally created as a joke in 2013, based on the popular “Doge” meme featuring a Shiba Inu dog. Despite its origins as a fun, lighthearted project, Dogecoin has gained significant popularity, particularly after endorsements from figures like Elon Musk.

Why Dogecoin is a Good Investment:

• Community and Celebrity Endorsements: Dogecoin has a massive following and has benefited from high-profile endorsements, especially from Elon Musk, who frequently tweets about the coin. This has brought significant attention and price increases to DOGE.
• Low Price, High Liquidity: Dogecoin is inexpensive compared to many other major cryptocurrencies, which makes it an attractive option for new investors. It also has high liquidity, meaning it’s easy to buy and sell DOGE on most exchanges.
• Active Development: Although Dogecoin was initially a “meme coin,” it has seen ongoing development and improvements. The community continues to advocate for use cases in microtransactions and tipping.

Risks: Dogecoin lacks the utility and technological features of other cryptocurrencies like Ethereum and Solana, making it highly speculative. It is also largely driven by social media hype and celebrity endorsements, which makes it vulnerable to sudden price drops if interest wanes.

6. Chainlink (LINK): The Leading Oracle Network

Overview: Chainlink (LINK) is a decentralized oracle best coins to invest in network that enables smart contracts on blockchains to securely interact with real-world data. It acts as a bridge between blockchain networks and external data sources, making it essential for many DeFi applications and smart contracts.

Why Chainlink is a Good Investment:

• Real-World Use Cases: Chainlink plays a critical role in the decentralized finance ecosystem by providing reliable, tamper-resistant data feeds to smart contracts. As the DeFi sector continues to grow, so does the demand for Chainlink’s services.
• Strong Partnerships: Chainlink has formed partnerships with some of the largest companies in the blockchain and traditional sectors, including Google, Oracle, and SWIFT, which increases its credibility.
• Expanding Ecosystem: Chainlink is continuously expanding its use cases, including integration with various blockchain platforms, and even venture into areas such as NFTs and gaming.

Risks: Chainlink faces competition from other oracle solutions and blockchain networks that are working to improve their interoperability. Additionally, while the demand for oracles is growing, the overall market for decentralized oracles is still relatively young.

Conclusion: Best Cheap Crypto to Buy Now

The best cheap crypto to buy now depends on your investment goals and risk tolerance. Ripple (XRP) and Stellar (XLM) are strong choices if you’re interested in cross-border payments, while VeChain (VET) offers great potential for supply chain tracking. Shiba Inu (SHIB) and Dogecoin (DOGE) provide opportunities for those looking to invest in meme coins with large communities, though these are highly speculative. Meanwhile, Chainlink (LINK) offers real-world utility with its decentralized oracle network, making it a solid choice for those looking for a cryptocurrency with strong long-term use cases.