Top 10 Cheapest Cryptocurrencies to Invest in India- 2024
Cryptocurrencies are well known at present, especially with speculative investors. What was previously considered a “fringe” investment is now considered the center and front. More than 13000 crypto tokens are traded in the market. Therefore, opting for a good cryptocurrency project with a strong growth potential can be quite tricky, particularly for new investors. Thus, the following discussion offers an understanding of the 10 cheapest cryptocurrencies to invest in India, which can benefit investors.
1. Ripple ( XRP )
XRP is an open-source cryptocurrency. It utilises an open-source distributed ledger known as the XRP Ledger. Ripple is its developer, an enterprise blockchain company that facilitates global transactions.
Ripple states that XRP was developed for payment and can really assist in settling transactions more effortlessly, efficiently, and reliably, along with reduced costs, as compared to the standard global payment structure.
2. Cardano (ADA)
Cardano is a proof-of-stake blockchain platform that supports smart contracts and is one of the most highly scalable. It is regarded as one of the “Ethereum Killers” in the market. Developers can readily utilize it to develop and run apps on the blockchain with a multi-asset ledger and verifiable smart contracts.
It can handle up to 2 million transactions every second. It was the year 2015 that this blockchain platform was founded. The mainnet had its launching in September 2017. The launching was done with the co-founder of Ethereum, Charles Hoskinson.
3. Dogecoin (DOGE)
The origin of Dogecoin was a kind of a joke. However, it has become a substantially real thing for the ones who have gained profit from it. The coin is undoubtedly “cheap”. The origin of Dogecoin Was a satirical take on Bitcoin.
It has a history of rising and falling on the basis of the tweets and hype by Elon Musk. It increased in the weeks that led to the purchase of Twitter by Elon Musk in 2022. However, it has also fallen drastically since then.
4. Chainlink (LINK)
Chainlink is another Ethereum token. It powers the Chain Link decentralized oracle network and helps securely connect external data sources, payment systems, and APIs. Chainlink states that it enables off-chain computation and real-world data to expand the abilities of the smart contract while maintaining the drawbacks of the clock in technology. It includes reliability guarantees and security.
The Chainlink price generally moves in fits and starts. However, it has been holding on to its own since late last year.
5. Algorand (ALGO)
Algorand is also a proof-of-stake (PoS) blockchain platform. It expands the imagination of the potential uses of cryptocurrencies. It is ideal for functioning as a payment processor.
Additionally, it enabled transactions and processing at a significantly higher speed, similar to Visa or MasterCard. Silvio Mucali, a computer scientist and an MIT professor, created this platform. Officially, it was launched in 2019.
6. VeChain (VET)
VeChain is an enterprise-grade smart contract protocol. The objective of it is to make complicated supply chain management procedures simple and enhance their efficacy via blockchain technology. Some of the largest and most significant manufacturers and retailers around the globe use this protocol.
It includes Walmart, BMW, and LVMH. Sunny Lu and Vuitton China and Jay Zhang, who is a financial and risk management expert and the former person is a former Chief Information Officer at Louis, are the co-founders of this protocol, which occurred in the year 2015.
7. Polygon (MATIC)
Polygon is a decentralized application built on the Ethereum network. It is supposed to enhance Ethereum into a multi-chain system. Coinbase and Binance back Polygon. Developers are required to deploy decentralized applications more efficiently, quickly, and affordably, and this application can be an effective solution for them.
The analysis states that Polygon’s backing is via a robust team and sound technology. It makes MATIC a good bet from a long-term perspective.
8. Stellar (XLM)
Stellar utilizes stellar lumens as its currency; it is its own payment network. Anyone can use the network. However, it was aimed at linking financial intuitions that make sunset factly large transactions. These types of large transactions can occur almost instantly at little or no cost at all on this network.
It helps make this network unique and stand out from the competing and traditional clock hain networks. The cost of stellar lumens has been volatile. Additionally, it has not shown massive gains like the high performers have witnessed. Conventionally, the bitcoin prices and XLM have moved in the same path. XLM might witness its growth in Bitcoin’s wake.
9. Basic Attention Token (BAT)
Basic Attention Token (BAT) is an ERC-20 token. It is linked with the Brave web browser. The network rewards Brave users for their attention and time whenever they consume digital ads through the browser and visit the websites. The Brave browser allows efficient and quality ad reverie distribution between distributors, platforms, and web users.
Brave’s objective is to streamline commerce between all three sets of users. It also shows relevant ad content to the users and offers advertisers and ad publishers a superior return on investment. Brian Bandy, a software developer, and Brendan Euch, the co-founder of Mozilla Firefox, founded Barve in 2015.
10. Loopring (LRC)
Daniel Wong, an ex-Google software engineer, is the founder of Loopring. It was founded in the year 2017. The platform allows bullying non-custodial order book-based decentralized exchanges on the Ethereum platform. The objective is to make trading and exchanging numerous Ethereum-based crypto assets more affordable and efficient through decentralized exchanges.
Loopring aims to attain this by using zero-knowledge roll-ups or the ZK roll-ups. The majority of the decentralized changes on Ethereum take only a couple of minutes to consider a trade. However, Loopring is trying to make the transactions take place within seconds and, at the same time, decrease the price without making any compromises on safety.
Final words
It is essential to opt for the right cryptocurrency. And that can be possible and effortless when you are aware about the different cryptocurrencies available presently that best suit your preferences, needs and demands. Purchasing reasonably priced cryptocurrencies gives novice investors a chance to participate in the quickly developing cryptocurrency industry.
These are appealing choices for investors wishing to diversify their holdings since they include cutting-edge technologies and significant growth potential. But because cryptocurrencies are so volatile, it’s critical to do extensive study, comprehend the dangers, and make wise choices. Mudrex has its own app on Google Play Store, where you can find the cheapest cryptocurrencies to invest in. Make sure to download the app and add these tokens to your portfolio.
FAQ
1. Which Crypto Has the Lowest Price?
There are many cryptocurrencies at lower price ranges. However, Cardano (ADA) is one of the best and cheapest cryptocurrencies to invest in.
2. Which Crypto Will Boom in 2024?
Well, the growth of a cryptocurrency depends on several aspects. However, some potential options include Ripple (XRP), Dogecoin (DOGE), and Cardano (ADA).
