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As the world knows that the cryptocurrency market is thriving for the last few years, cryptocurrencies have a huge potential for growth in the future. Investors are eyeing for favourable cryptocurrency prices to invest in a digital wallet and gain higher profit in the nearby future. Since the cryptocurrency market is highly volatile— prices may drop or rise at any point of time, investors are highly interested to invest their valuable time and money in cheap cryptocurrencies to avoid some serious consequences for their digital wallets. Let's explore some of the top cheap cryptocurrencies favourable to buy in October 2021.
Current price: US$2.17
Market cap: US$71.55 billion
Cardano is one of the cheapest cryptocurrencies to buy in October 2021 owing to its flexible network as well as the sufficient speed of transactions. The USPs of this cryptocurrency are scalability, sustainability, and interoperability. Investors can observe that this cryptocurrency price has increased owing to the low transaction fee, ability to develop smart contracts, and many other recent updates. Thus, it is one of the cheapest and profitable cryptocurrencies available in the cryptocurrency market for the investors.
Current price: US$1.00
Market cap: US$68.79 billion
Investors have started preferring Tether as the cheapest cryptocurrency to buy in October 2021 owing to its reputation as a stablecoin. It helps to convert cash into digital currency in a digital wallet by tethering the value to the price of the US dollar, the Euro, and Chinese Yuan. It is 100% backed up the Tether reserves and every token of this cryptocurrency is one-to-one pegged to the dollar.
Current price: US$0.24
Market cap: US$31.11 billion
The famous entrepreneur, Elon Musk, has popularized this cryptocurrency known as Dogecoin since its emergence in the cryptocurrency market. It is one of the cheapest cryptocurrencies for investors to buy in October 2021. But, Elon Musk is the Dogecoin influencer— his cryptic tweets control the sudden rise and drop of this cryptocurrency price. It was unexpected for investors to consider Dogecoin as a serious cryptocurrency while being a meme coin. It has shown a returning over 8000 per cent so far in the year 2021.
Current price: US$26.51
Market cap: US$12.13 billion
Chainlink is one of the popular and cheapest cryptocurrencies in the cryptocurrency market with its decentralized oracle network that offers tamper-proof inputs and outputs for complicated smart contracts on blockchain technology. It is known for integrating third-party data into smart contracts to feed information to DApps efficiently and effectively.
Current price: US$0.12
Market cap: US$7.82 billion
VeChain is attracting the eyes of investors as a cheap cryptocurrency in the highly volatile cryptocurrency market. Investors need to follow one strategy to gain profit in the nearby future— let the digital asset liquidate the last of weak holders to maintain the clarity of price structure efficiently. Blockchain technology is known as the VeChain Thor Blockchain to transfer value across the cryptocurrency network.
Current price: US$150.28
Market cap: US$45.0.9 billion
Solana is one of the top cheap cryptocurrencies that offers a web-scale blockchain with faster, secure, and DApps. The system of this cryptocurrency provides the utmost support to 50,000 transactions per second as well as 400ms block times for investors. It is also capable to support approximately 710,000 transactions per second on a standard gigabit network while 28.4 million transactions per second on 40 gigabit network.
Current price: US$0.000029
Market cap: US$11.54 billion
Shiba Inu is the rising star of the cryptocurrency market and the cheapest cryptocurrency to buy in October 2021. It is known as the Dogecoin Killer that has already impressed investors to invest in their digital wallets. It has experienced a huge growth of around 21,000 per cent in one week, the credit goes to Elon Musk. This community holds the potential to grow in the future to gain profit in the digital wallet. Shiba Inu is working for investors and has launched DEX platform (decentralized exchange) to allow investors to provide liquidity as well as earn staking rewards efficiently.
Current price: US$0.098
Market cap: US$7.001 billion
Besides the popular cryptocurrencies such as Bitcoin and Ethereum, Tron is gaining popularity as a blockchain-based decentralized platform to create a free and digital content entertainment system. It will allow investors easy and cost-effective sharing of digital content without any external trouble.
Current price: US$1.14
Market cap: US$53.24 billion
XRP is one of the cheapest cryptocurrencies to invest in the digital wallet and is known as the best digital asset for global payments. It offers financial institutions the fastest and most reliable option for sourcing liquidity on demand. Investors are getting attracted towards XRP because it is open-source and permissionless with blockchain technology to complete transactions in three to five seconds.
Current price: US$273.11
Market cap: US$4.92 billion
Monero is gaining popularity as a privacy-focused open-source cryptocurrency in the digital wallet of investors. It was launched in 2014 and witnessed a good growth in the market cap since 2016. The primary reason for its popularity is its acceptance from the darkweb to purchase multiple different criminal or illegal objects. Its hash function is known for being used as a proof-of-work mechanism.
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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.
