Bitcoin is the most popular cryptocurrency, with a market capitalization of more than $1 trillion. Investors that bought Bitcoin in its early days when it traded below $1 and have held until today have received an over 60,000x gain.
The price of Bitcoin has soared over the years, and by March 2024, it had hit an all-time high of $73,000. BTC was trading at around $62,000 at the time of writing, which means investing a considerable amount of money is the only way to make a significant return.
Therefore, if you are a risk-averse investor looking to invest a small amount or want to start small, consider buying altcoins. Altcoins are any other cryptocurrencies aside from Bitcoin.
The best thing about buying altcoins is that you can invest in coins worth less than $1. These coins have room for growth, and if they gain in price, you will feel an impact on your portfolio.
This article will explore some of the best seven crypto coins under $1 that you can buy today. Each of these coins is carefully selected to ensure they have robust fundamentals and solid community backing that can support a price gain.
These coins include the following:
XRP (XRP)
At the top of our list, we have XRP. XRP is one of the oldest cryptocurrencies in the market, but it is also among the cheapest, given that it is valued under $1.
XRP has a market capitalization of over $26 billion, according to CoinGecko, ranking it as the eighth-largest cryptocurrency by market capitalization. The token is listed on the largest cryptocurrency exchanges, including Binance and Coinbase.
XRP is the native token for Ripple, a technology company based in the United States. The Ripple network seeks to ease cross-border payments. It also aims to be superior to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system by incorporating blockchain technology.
Given the solid fundamentals around XRP, one can easily see why it is among the best crypto coins that one can buy under $1.
Nevertheless, when talking about Ripple, it is prudent to mention the lawsuit filed against Ripple Labs and its executives for selling unregistered securities. The US Securities and Exchange Commission (SEC) alleged that XRP is a security, and the lawsuit is ongoing.
Last year, Ripple posted a significant win in the lawsuit after Judge Analisa Torres ruled that XRP secondary sales are not securities. However, the Judge must still determine whether the XRP Initial Coin Offering (ICO) constituted securities.
Below is a chart showing the performance of XRP over the past year. After being battered by a bearish market sentiment last year, XRP has shown signs of recovery, and it is poised to rally higher and possibly reach record highs.
A rally is expected if the court rules in favor of Ripple in the ongoing lawsuit with the SEC.
Cardano (ADA)
The other best crypto coin under $1 is Cardano (ADA). Just like XRP, Cardano is among the oldest cryptocurrencies in the market, and it also has solid technological and community backing, making it an excellent option to consider when growing your portfolio.
ADA ranks as the 11th largest cryptocurrency in the cryptocurrency market, with a market capitalization of more than $14 billion, according to CoinGecko. Despite the high market cap, ADA is a cheap coin to acquire, given that it was priced at around $0.41 at the time of writing.
ADA’s performance over the past year has been iconic, given that it is up 40%, as seen below.
Besides the price growth, the usage of the Cardano blockchain has also increased significantly, and it is expected to continue doing so. In July 2023, the Total Value Locked (TVL) on the Cardano blockchain was $159 million, which has since surpassed $220 million, according to DeFiLLama.
This TVL on any blockchain reflects the users and developers on a blockchain. High blockchain usage boosts demand for the chain’s native token, in this case, ADA, as it is used to pay gas fees.
Recently, the co-founder of Cardano, Charles Hoskinson, announced that the blockchain would undergo a major hard fork known as the Chang hard fork. This fork seeks to boost decentralization on Cardano and make the network more secure.
The Cardano blockchain also recently showed resilience against a hacking attack, with many praising the network. The crypto market has often been the victim of rising hacking exploits.
Dogecoin (DOGE)
The other crypto coin under $1 you should also consider having in your portfolio is Dogecoin, the father of meme coins. While DOGE is a high-risk asset, it can also deliver quick gains within a short time, a characteristic of meme coins.
Meme coins are crypto coins that are popular with retail traders. These coins have a high supply, consequently giving them a low price. Given their affiliation with retail traders, these coins can make swift gains quickly, but they can also cause huge losses within an even shorter time.
Dogecoin is the oldest and largest meme coin. It ranks as the tenth-largest cryptocurrency with an over $17 billion market capitalization. One can buy Dogecoin on all leading exchanges, including Binance, Coinbase, Kraken, and OKX.
DOGE has posted an iconic performance this year. As seen in the chart below, the price has seen significant spikes in price performance before correcting.
Dogecoin is referred to as a meme coin because its origin is in funny internet memes. In 2013, Dogecoin co-founders Jackson Palmer and Billy Markus teamed up to create this meme coin. It amassed much community interest within a short time.
Dogecoin runs on a proof-of-work (PoW) consensus, just like Bitcoin. Its network has miners who receive rewards in DOGE by solving blocks.
One of the main reasons why DOGE’s price remains low and under $1 is because it is inflationary. The supply of DOGE increases gradually over time. Its price performance is mainly dependent on market sentiments.
Despite being a high-risk asset, Dogecoin enjoys the support of Tesla CEO Elon Musk. Recently, the Tesla website officially included DOGE as one of the accepted payments.
The former US President, Donald Trump, also added DOGE as one of the cryptocurrencies accepted for campaign donations.
TRON (TRX)
The other crypto coin under $1 you should buy is TRON (TRX). TRX is among the best crypto performers this week after the price appreciated by 67% over the past year. Data from CoinGecko shows that TRX has a market capitalization of more than $11 billion, ranking it the 12th largest cryptocurrency.
According to TRX’s yearly price movement, it is among the top-market performers this year, and it has even shown resilience, which could see it outperform most cryptocurrencies.
TRON is one of the most robust blockchain ecosystems, targeting blockchain developers globally. It seeks to decentralize the web by allowing people to access a public chain, wallet client, and decentralized applications (DApps).
The tokens supported on the TRON blockchain are known as TRC-20 tokens. The TRX tokens are used as a medium of exchange to unite the entire TRON ecosystem.
Arbitrum (ARB)
The other best crypto coin under $1 in your crypto portfolio is Arbitrum (ARB). This coin is a good addition to your investment portfolio if you want exposure to the Ethereum ecosystem without buying Ether, the largest altcoin.
Arbitrum has a market capitalization of more than $2.5 billion. It is also ranked as the largest Ethereum layer-2 scaling solution by TVL.
A layer-2 solution is also known as a rollup chain. Its objective is to improve the scalability of the Ethereum blockchain by bundling many transactions into one. These chains reduce congestion on the main Ethereum mainnet.
ARB is the native token for the Arbitrum rollup chain. This token has utility in the ARbitrum ecosystem as it is used to pay transaction fees on the network and control network governance. Those holding the ARB token can also engage in decision-making processes like proposing and voting on upgrades on the network.
The ARB token reached an all-time high of $2.39 in January 2024. While it has been unable to reclaim this spot, its growth has been commendable, and it could be poised for more gains if Arbitrum’s network usage continues.
Data from L2Beat shows that Arbitrum’s TVL stands at $16 billion. This figure is twice the TVL of the second-largest layer-two chain by this metric, Base, whose TVL stands at around $7 billion. Such growth indicates that the price of ARB is poised for a positive performance in the coming months.
GALA (GALA)
As aforementioned, utility is one of the critical things to consider when buying a crypto coin under $1. Looking at the utility guarantees that the coin you are buying is less affected by market volatility and has the potential to grow and hit higher levels.
One of the top crypto coins under $1 by utility is GALA. GALA is the native token for the Gala Games ecosystem, with a market capitalization of nearly $1 billion.
GALA has soared in value and popularity over the past year. Data from Coingecko shows that IMX has gained by around 3% this year. It is among the most resilient market performers over the past year as the popularity of blockchain gaming projects continues to grow.
GALA ranks among the leading blockchain gaming platforms focused on boosting digital ownership for players and making it easy for them to create Web3 games.
Gala Games provides Web3 gaming players access to various games and in-game assets. By owning in-game assets, players can access a new and unique gaming strategy that enriches their entire experience.
On the Gala Games website, a player can access a variety of gaming projects. A player can also access the development status of these games, the platform where they are created, and the genre.
The platform also supports community engagement by allowing the community to be involved in the development of games.
GALA is the native token used to handle transactions on Gala Games. Therefore, as the Gala Games ecosystem grows in adoption, it could translate to more gains for the GALA token and help it emerge among the top market performers.
The blockchain gaming market is expected to hit a valuation of between $65 billion and $90 billion by 2030, and GALA is well-positioned to secure a significant market share.
Hedera (HBAR)
The other cryptocurrency that ranks among the top coins under $1 you should get is Hedera (HBAR). This coin has a market capitalization of more than $2.68 billion, according to CoinGecko, ranking as the 36th largest cryptocurrency by this metric.
HBAR has also been among the top market performers this year after gaining more than 48% annually. It has also shown much resilience in the face of the bearish sentiment in the broader market.
Besides being an under $1 crypto coin, HBAR is valued below $0.1, meaning you can acquire a significant amount of HBAR coins with a small investment.
Hedera is a decentralized public network that allows developers to create secure and fair applications using real-time consensus.
This platform is focused on decentralized governance, given that it comprises a global team of innovators, including Google, IBM, LG Electronics, Nomura, Tata Communications, etc.
Hedera operates using a different type of technology that differs from blockchain, making it an ideal way of diversifying your investment portfolio.
Hedera is the only public ledger that operates using the Hashgraph consensus. This technology is far more secure and faster than the blockchain consensus mechanism. This superior technology has made Hedera the top blockchain in development activity.
Given the potential of the Hedera blockchain, it is easy to see why HBAR ranks among the best coins you can buy with a small investment and grow your portfolio.
Risks and Considerations When Buying Crypto Coins Under $1
When looking for the best crypto coins under $1 to buy, you need to consider the following factors:
Volatility
One of the crucial factors to know about cryptos under $1 is that they can be highly volatile. Cryptocurrencies are categorized as high-risk assets.
While they can offer significant returns quickly, they can also post huge losses and price declines.
Regulatory Risks
It is also important to note that the regulatory framework around cryptocurrencies still needs to be clarified.
Crypto assets could be barred in some jurisdictions, which might put you in legal trouble whenever you attempt to purchase these assets.
Fundamentals
The fundamentals behind cryptocurrency projects are another factor to consider when getting crypto coins under $1.
Some of the cryptocurrencies listed above have solid technological backing, meaning there is a reduced risk of a rug pull.
Such coins also have the potential to gain in value when their respective blockchain projects gain adoption.
Price Growth
You should also consider the past performance of a cryptocurrency before buying it. If a token has had solid price growth in the past years, it will likely continue with the same performance.
However, a token with poor or stunted growth might have dwindling support from crypto traders, which could cause it to plunge in value.
In Summary
Cryptos under $1 are the best place to start if you are a newbie cryptocurrency trader looking to scoop significant returns on your investment.
These coins are relatively cheap, allowing you to invest a small amount of money, especially when you are a risk-averse trader.
When buying cryptos under $1, you should consider the fundamentals, past price performance, market volatility, and regulatory risks.
These factors will help determine whether the crypto coin you want to buy has the potential to make significant returns.
The crypto coins under $1 listed above are all listed on major cryptocurrency exchanges. Buying crypto coins is easy. You must open the exchange account, fund it, and place your order.
FAQs
What are some of the best cryptocurrencies for under $1?
Some of the best cryptocurrencies you can buy under $1 include XRP, ADA, TRX, GALA, ARB, DOGE, and HBAR.
Are cryptocurrencies under $1 riskier than those with higher prices?
No, crypto coins under $1 carry the same level of risk as more pricy coins. All cryptocurrencies are highly volatile and high-risk assets.
Which exchanges are best for buying cryptocurrencies under $1?
When looking for the best cryptocurrency exchanges you can buy under $1, consider platforms such as Binance, Coinbase, Kraken, and OKX.
What factors should I consider when choosing a low-cost cryptocurrency to invest in?
When choosing a low-cost cryptocurrency, you should consider market volatility, fundamentals, regulatory risks, and past price performance.
