Best Cheap Cryptocurrency To Invest In Right Now

With thousands of cryptocurrencies in the market, choosing the right one to invest in can be challenging. Cryptocurrencies are volatile, and investing in them is risky, as demonstrated by the 2021-2022 freefall. However, they can also be a great investment, with some investors earning a lot within a short period.

When deciding which cryptocurrency to invest in, it is essential to consider factors such as the speed of transactions, fees, usability, security, and the number of people investing. It is also worth noting that broader adoption is a key point for crypto to open its full potential as an asset class.

Some cheap cryptocurrencies with high potential include QuantStamp, IOTA, Ardor, The New Economy Movement, Ravencoin, Stellar Lumens, Cardano, BitTorrent, Pundi X, Ontology, Dogecoin, Digibyte, Reddcoin, Burst, and NEM.

QuantStamp (QSP)

History

Quantstamp was founded in 2017 with the aim to enhance the security of the decentralized internet. It has since conducted numerous audits and protected a substantial amount in digital asset risk from hackers. It has collaborated with a variety of startups, foundations, and enterprises to ensure the safety of their innovative products. Over the years, Quantstamp has collaborated with many projects in the web3 space, including Ethereum 2.0 (Prysmatic Labs Client), MakerDAO, Chainlink, eToro, and the World Economic Forum.

Use Cases

Quantstamp provides security audits for web3 applications. It conducts smart contract, off-chain, networking, and front-end audits to enhance the security of decentralized applications. It is blockchain agnostic, meaning it can audit client systems on various blockchain platforms.

Quantstamp also has a product called DeFi Protection, which checks the safety of smart contracts, alerts users to any threats, and provides continuous support from security auditors. If there is a gap in Quantstamp’s security services that result in losses, DeFi Protection customers are compensated.

Investment Potential

QuantStamp is known as the first scalable security-audit protocol made to trace the security loopholes in making Ethereum smart contracts. It offers a monthly Airdrop of several new coins to long-term investors. The QuantStamp has touched its lowest price due to the Ethereum scalability issue, which brings it to value down. Hence, it is considered the best cryptocurrency under $1 and a good chance to get benefits for investors.

IOTA

The Tangle requires users to validate two transactions in order to make a transaction of their own. This approach aims to offer greater speeds than conventional blockchains, making it suitable for the rapidly growing IoT ecosystem. By eliminating the need for miners, IOTA also removes transaction fees. This structure aims to provide limitless throughput at minimal expense.

Ardor (ARDR)

Ardor was created with scalability in mind and solves many existing industry problems such as blockchain bloat, single token dependency, and the need for easily customizable yet compatible blockchain solutions. It is based on Nxt technology and offers the first pure proof of stake consensus algorithm.

Ardor is a public blockchain-as-a-service platform that builds on the technology of Nxt to provide a comprehensive solution for the scalable deployment of blockchain. It introduces a novel parent-child chain architecture, where the security and integrity of the network are maintained by the parent Ardor chain, while the child chains are equipped with extensive functionality for various applications.

Ardor's consensus mechanism is another area where it stands out. It claims to be the first to implement a pure proof-of-stake consensus algorithm, which not only reduces energy consumption compared to proof-of-work systems but also offers increased security and decentralisation. The platform's native tokens, including ARDR, IGNIS, and NXT, play a crucial role in the ecosystem, facilitating transactions, governance, and other functionalities within the Ardor network.

The development and maintenance of Ardor and its associated tokens are managed by Jelurida Swiss SA, a company known for its commitment to advancing blockchain technology.

Ardor serves as a pioneering blockchain-as-a-service platform, designed to enhance and simplify the use of blockchain technology for various industries. Its innovative parent-child chain architecture distinguishes it within the blockchain ecosystem, providing a robust foundation for the development and deployment of decentralized applications (dApps) and custom blockchain solutions.

The platform operates on a 100% proof-of-stake consensus mechanism, which is a testament to its commitment to energy efficiency and sustainability. Written in Java, Ardor offers a familiar and accessible development environment for professionals looking to leverage blockchain technology in their projects.

Ardor's utility spans multiple industries, including supply chain management and asset management. Its capacity for creating and managing decentralized applications makes it a versatile tool for businesses seeking blockchain solutions that are both customizable and compatible with existing operations.

The New Economy Movement (NEM)

The NEM blockchain consists of two components: the node, or NEM Infrastructure Server (NIS), and a client used for node interaction. The blockchain uses Proof of Importance (PoI) to determine which nodes are eligible to add a block to the blockchain, a process NEM calls “harvesting”. Any nodes that harvest blocks receive the transaction fees for that block.

NEM was launched in March 2015. The total market cap is US$589 million, with US$6.8 million traded over the past 24 hours. The NEM total supply is nine billion. The genesis block minted every single one, and no additional tokens will be created. The project raised 66.2 Bitcoin (BTC) and 419,697 Nxt (NXT), or about US$150,000, through a “call for participation”. XEM tokens were sold for an average price of 0.05 BTC and 450 NXT. Overall, about 200 individuals participated in the pre-launch public auction. Another 71% of the total coins were released via a stakeholder community distribution.

In 2016, the non-profit Singapore-based NEM Foundation was created to further NEM development and introduce, educate, and promote the use of the NEM blockchain technology platform to industry and institutions across the globe. In August 2018, the NEM community approved the creation of NEM Ventures, which is funded by the NEM Community Fund. The Fund is an investment vehicle for tranched funding tied to measurable, clear milestones that promote the NEM ecosystem.

Ravencoin (RVN)

Ravencoin features four key changes from Bitcoin: a modified issuance schedule with a block reward of 5,000 RVN, a block time of one minute, a coin supply cap of 21 billion, and a mining algorithm (KAWPOW) to mitigate the centralization of mining caused by ASIC hardware. RVN coins are designed to be an internal currency within the network and must be burnt to issue token assets. These tokens can represent anything from custodial objects like gold or physical euros to virtual goods, stocks, airline miles, or even an hour of someone's wage.

Ravencoin was announced on October 31, 2017, and released binaries for mining on January 3, 2018, with a fair launch: no premine, ICO, or masternodes. The Ravencoin whitepaper was published by Bruce Fenton, Tron Black, and Joel Weight, who were all seasoned businessmen and developers before starting this project. Fenton, for example, was an executive director of the Bitcoin Foundation from 2015 to 2018 and vice president of Morgan Stanley in the 1990s.

The current live Ravencoin price is $0.016280 USD, with a 24-hour trading volume of $5,621,632 USD. It is ranked #176, with a live market cap of $232,106,888 USD. The all-time high price for Ravencoin was on February 20, 2021, at BTC0.00001643, while the all-time low was on March 13, 2020, at BTC0.062503. The top exchanges for trading Ravencoin are Binance, Huobi Global, OKEx, ZG.com, and VCC Exchange.

Frequently asked questions