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Cryptocurrencies are all in the rage these days, particularly with speculative investors. What earlier used to be a fringe investment is now at the front and center of the financial revolution. Even top international and national press institutions keep a close eye on the daily movements of crypto coins and other digital currencies. Bitcoin, being one of the most popular currencies, is recognized and trusted by almost everyone. But new investors are always looking for affordable and cheapest cryptocurrencies to invest in. Keeping in mind that the crypto market is considered to be extremely volatile, these investors hesitate to risk it all the first time. So, in this article, we have listed the top 10 cheapest cryptocurrencies with high returns.
Cardano (ADA) is one of the fastest low-energy blockchains that is fully decentralized and peer-reviewed from its very start. Cardano was built in collaboration with a non-profit and Charles Hoskinson, the co-founder of Ethereum. The project's native token ADA was named after 19th-century mathematician Ada Lovelace. One of the top 10 cheapest cryptocurrencies with high returns.
According to its creators, the DOT token primarily serves three main purposes, which include providing governance for the network, operating the network, and creating parachains by bonding Polkadot tokens. Crypto has roughly gained 468% this year and continues to remain an affordable cryptocurrency with great potential for 2023.
Dogecoin uses a proof-of-work consensus mechanism, which requires miners to solve complex math problems with expensive, high-powered computers to earn the right to validate transactions. Dogecoin's advantage over Bitcoin is that it's cheaper and faster to process transactions. One of the top 10 cheapest cryptocurrencies with high returns.
One of the meme tokens that has taken off lately, Shiba Inu has seen some biblical growth last year. Among the many factors to consider in owning a SHIB token is the impressive community Shiba Inu has created. The community has also created an NFT project around SHIB that has enabled it to gain more attraction from investors.
Avalanche is an Ethereum competitor that facilitates decentralized applications and the creation of custom blockchains on its ecosystem. Also, quite recently AVAX reached a record high value, overtaking several major cryptocurrencies. Although it is launched in 2020, Avalanche has shown great potential to grow. One of the top 10 cheapest cryptocurrencies with high returns.
XRP coins and the Ripple blockchain seek to disrupt the global banking industry. They intend to replace the SWIFT payment and communication network and introduce a faster, more secure, affordable, and effective cross-border payment and messaging system. The Ripple payment system has already been adopted by dozens of leading banks across the world.
Maker is the native token of MakerDAO, a decentralized lending platform built on the Ethereum network users can lock up ETH in the protocol and create 'DAI', a stablecoin pegged to the dollar. Essentially this allows users to receive crypto loans and generate yields without the need for invasive KYC checks. One of the top 10 cheapest cryptocurrencies with high returns.
Polygon Matica is a framework and a protocol for building and connecting Ethereum-compatible blockchain networks which aggregate scalable solutions on Ethereum's supporting ecosystem. Polygon creators have broadened their vision and reach by updating their system and bringing in metaverse designs and integrating the MATIC Plasma chain.
VeChain is the currency of the VeChain Thor blockchain, and it is considered the perfect choice for investors who want to invest in affordable, yet potential cryptocurrencies. VeChain facilitates the management of supply chains and other business processes. One of the top 10 cheapest cryptocurrencies with high returns.
Decentraland is the virtual reality game set on the Ethereum blockchain where users can buy virtual land on which they can build virtual mansions. In Decentraland you can buy virtual goods and services and live a new life in this parallel universe set in the metaverse.
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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.
