INVEST IN THE DIP: TOP 10 CRYPTOCURRENCIES TO BUY FOR US$5 IN 2022
These cryptocurrencies are both cheap and profit-making in the long run
Although 2021 turned out to be an eventful year for cryptocurrencies, 2022 has brought more challenges to the sphere. Even popular digital tokens like Bitcoin and Ethereum are struggling to make ends meet since the beginning of the year. While cryptocurrencies are an intriguing investment model, it comes with risks and extreme volatility. Therefore, experts always suggest cryptocurrency investors spend a minimum amount on digital tokens. For example, only 5% of a person’s savings portfolio should have cryptocurrencies. Because everything is unpredictable in the virtual sphere. Just three months back, Bitcoin and Ethereum were hitting a record high of US$68,500 and US$4,800 respectively. But today, BTC is down to a death cross. Once Bitcoin falls under the tough radar, other cryptocurrencies will eventually face the blow. However, a few cryptocurrencies gain prominence when BTC is on the downplay. Cryptocurrency investors can opt for these affordable digital tokens that will function as a great investment source. In this article, Analytics Insight has listed 10 such amazing cryptocurrencies that can be bought for just US$5. These cryptocurrencies are both cheap and profit-making in the long run.Top Cryptocurrencies to Buy Under US$5
Besides being a direct competitor to Bitcoin, Cardano is also emerging as a major ‘Ethereum Killer’ in 2022. Its easy transaction methods and lower fees have put it straight across ETHER in the market. One more thing that makes Cardano flourish is its internal mechanism that imitates the Ethereum network. Charles Hoskinson, one of the co-founders of Ethereum is the creator of Cardano. Therefore, he comes with Ethereum knowledge besides his blockchain skills. At the time of writing, Cardano’s market capitalization stood at US$41 billion.
Polygon is a futuristic platform that has Ethereum compatibility. Its token called ‘MATIC’ is being utilized for governance, staking, and gas costs. The network creates interlinking blockchains and also helps investors overcome some complex Etheruem problems. The Polygon architecture is secluded by Etheryem, security, Polygon networks, and execution layer.
Tether is another Ethereum token that encounters less volatility. Also called a top stablecoin, Tether is pegged to the US dollar. Therefore, you can buy a Tether coin with just a dollar. However, the stablecoin might look weird to some investors. The whole point of many cryptocurrencies is to reap big benefits to buyers. On the other hand, Tether is here to profit long-term token holders.
Shiba Inu is a famous memecoin that rose to prominence in 2021. For a long time, Dogecoin stayed as the top meme currency without much competition. However, SHIB, another memecoin, that was created out of online jokes that went viral in 2013 came to the play. Shiba Inu recorded over 17,000% growth in 2021 alone after a petition in Change.org demanding the Robinhood platform to add SHIB to its portfolio went viral. It also outperformed Dogecoin for a while.
Stellar is a standalone payment platform that promotes its own cryptocurrency called ‘Stellar Lumens’. The aim of the network is to provide easy transaction methods to financial institutions. Even large transactions can be done seamlessly in an instant. Although Stellar Lumens has been extremely volatile since its launch, the cryptocurrency’s value has doubled in 2021.
A couple of years before, nobody must’ve thought that a Shiba Inu meme-driven currency could make huge profits. But today, Dogecoin, the first memecoin is emerging as a major choice for cryptocurrency investors. Incepted in 2013, DOGE has been maintaining a low profile for a long time before hitting the mainstream in 2020. After Bitcoin rose to prominence, it shed some light on Dogecoin. Today, DOGE has a large number of honest followers and at the forefront is famous names like Elon Musk and Mark Cuban.
Terra is a network that uses its LUNA token to collateralize payments. It utilizes fiat-pegged stabecoins to facilitate a global payment system. Currently, Terra has a market capitalization of US$27 billion and it is one of the top-performing coins in the market.
Ripple has created a digital token called ‘XRP’. The platform is well known for its capabilities to exchange between fiat and cryptocurrencies. Its connection with central authorities and financial institutions makes XRP a unique way of investment. Ripple has been gaining prominence over the years massively. However, the platform was hit by a public prosecution by the SEC. If the court case ends in favour of XRP, the digital token’s value will increase drastically.
Many cryptocurrencies experienced massive growth after the 2017 bull run only to encounter price falls later on. But Binance Coin is a digital token that rose to familiarity in 2017 and maintained a slow and consistent upward trend even after the bull run ended. This is another stablecoin that is performing well in the market.
Chainlink is an appealing, yet, affordable cryptocurrency. Chainlink has recorded a steady growth over the years. Investors believe that digital token has far more potential than what we see today. They say it is just in the initial phase of adoption and will reach extreme heights in the coming years.