The low prices of these coins attract some investors as they are often considered to have high growth potential.
Read more to learn about the best altcoins under $ 1 and how to invest in these cheap cryptocurrencies.The best altcoins for less than $ 1AlgorandStellar LumensVeChainDecentralandUSD CoinWhat are altcoins?The term altcoin refers to any cryptocurrency other than Bitcoin, but the term is more often used to describe cheaper cryptocurrencies that are not as popular as Ethereum , Binance Coin, and Cardano .Although many cryptocurrencies have different uses, some altcoins are simply copies of other cryptocurrencies on the market, making them poor investments in the long term.Before investing in an altcoin, be sure to research the cryptocurrency.
Some important aspects that you should consider before investing are: the members of the team behind the project, the number of coins issued, the use cases and the potential for future growth.Market Capitalization vs. Cryptocurrency PriceAs mentioned above, the market capitalization of a cryptocurrency is much more revealing of growth potential than the price per coin.For example, Dogecoin is worth less than $ 1, but the coin has a market capitalization of more than $ 25 billion.
This is due to the amount of DOGE in circulation; There are currently $ 129 billion of coins minted, and the supply of Dogecoin is increasing at a rate of 10,000 coins per minute.Due to the high market capitalization and large supply in circulation, it takes a lot of capital to drive the price of coins like DOGE up.For the asset to double in price, the market cap would need to increase by about $ 25 billion, while a coin like Decentraland (MANA) would need a mere $ 1.2 billion increase in market cap to show a similar performance.The best altcoins for less than $ 1Our picks for cheap cryptocurrencies under $ 1 are based on fundamentals, growth potential, and the teams behind the project.For these reasons, you won't see coins like Dogecoin or SafeMoon on this list.
These currencies are purely driven by speculation, making them riskier investments than fundamentally strong projects with real-world use cases.AlgorandAlgorand (ALGO) is currently trading at $ 0.86.
The protocol is similar to Ripple (XRP), and has gained the attention of investors following recent lawsuits against its biggest competitor, Ripple.VeChainVeChain (VET) offers supply chain solutions using blockchain technology .