Here's to putting an end to some of your cryptocurrency investment voes. If you are reading this, you're looking to make the right crypto investment, something that will reap you profits without too much. If the only cryptocurrency in your mind is Bitcoin, think again. There are more than a hundred cryptocurrencies in the market right now that are showing tremendous growth potential. And if you have decided to invest in the coming week, the crypto market is under correction, making it an ideal time for novice investors.
If you're interested to know about cheap cryptocurrencies that will not burn a hole in your wallet, here are 10 cryptocurrencies under $100.
XRP's USP is its exchange feature. The transfer time is immediate, and XRP can be exchanged for many other currencies without any fees and wait times. Unlike most cryptocurrencies, XRP works on the Harsh Tree rather than blockchain technology. This cryptocurrency cannot be mined either as there is a finite supply of coins – 100 billion.
Market cap: $49.22B
Price today: $1.04
The main usage of Stellar is to connect financial institutions with blockchain technology and establish cheaper transactions. Instead of a traditional mining network, Stellar uses a federated byzantine agreement algorithm (FBA) for transactions. This results in quicker transactions compared to other blockchain-based transaction algorithms.
Market cap: $42.25B
Price today: $0.4595
Popular in Japan, Cardano works on a blockchain network and like other cryptocurrencies, it can be used for direct value transfer. What gives this cryptocurrency a boost is a future possibility of handling smart contracts, which means developers will be able to make applications around its system.
Market Cap: $27.23B
Price today: $1.78
Launched in 2013 as a joke, the reason Dogecoin was created is to satirize the buzz around altcoins by making the doge meme into a cryptocurrency. The joke soon took a turn and now Dogecoin is one of the prominent cryptocurrencies in the market. Dogecoin has faster transactions compared to other blockchains, with 1-minute block intervals. Since there is no limit to the supply of this coin, Dogecoin can inflate infinitely.
Market cap: $9.54B
Price today: $0.3651
Algorand works on a proof-of-stake blockchain that supports smart contracts. The PoS protocol enables users, who are selected on a random basis, to propose blocks and vote on proposals. This approach balances the user's influence on the selection of a new block to the proportion of the user's stake.
Market cap: $3.88B
Price today: $1.04
Instead of blockchain, IOTA works on a system of web connections called Tangle. To facilitate IoT, IOTA was made as a set up to exchange data between any data recording machine. To make a transaction using IOTA, the user must make two previous transactions on the web, and the speed of the transaction depends on the number of transactions taking place.
Market cap: $2.14B
Price today: $1.20
When Tezos was launched in 2017, it had the largest ICO to date, raising more than 10 times the $20 million mark that was set. Tezos blockchain system was one of the first ones to use a proof of stake system, swaying away from the proof of work system that is used by the Bitcoin blockchain.
Market cap: $3.04B
Price today: $3.94
EOS's blockchain platform also holds smart contract abilities, which means software developers can make apps or dapps around its system. The Dapps feature makes it similar to Ethereum, the second-highest valued cryptocurrency.
Market cap: $3.79B
Price today: $6.38
Launched on Ethereum, Tron moved to its own blockchain in 2018 and now, it is a direct competitor to Ether. In 2019, Tron and Tether announced a partnership to launch a token, TRC-20-token. According to the project, the network uses a proof-of-stake system in which 27 super representatives can produce blocks and are rewarded with 336,384,000 TRX's annually.
Market cap: $3.34B
Price today: $0.08261
NEM or New Economy Movement works on a Smart Asset System. The way NEM works is different compared to other cryptos. If you own 10,000 XEM and deposit it into the official NEM Nano wallet, they will start to 'harvest' and grow in number through interest.
Market cap: $3.15B
Price today: $0.2048
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.