We narrowed down the search to the top 10 cheapest cryptocurrencies you should know about in 2023
Cryptocurrencies are all in the rage these days, particularly with speculative investors. What earlier used to be a fringe investment is now at the front and center of the financial revolution. Even top international and national press institutions keep a close eye on the daily movements of crypto coins and other digital currencies. Bitcoin, being one of the most popular currencies, is recognized and trusted by almost everyone. But new investors are always looking for affordable and cheapest cryptocurrencies to invest in. Keeping in mind that the crypto market is considered to be extremely volatile, these investors hesitate to risk it all the first time. So, in this article, we have listed the top 10 cheapest cryptocurrencies with high returns.
Cardano
Cardano (ADA) is one of the fastest low-energy blockchains that is fully decentralized and peer-reviewed from its very start. Cardano was built in collaboration with a non-profit and Charles Hoskinson, the co-founder of Ethereum. The project’s native token ADA was named after 19th-century mathematician Ada Lovelace. One of the top 10 cheapest cryptocurrencies with high returns.
Polkadot
According to its creators, the DOT token primarily serves three main purposes, which include providing governance for the network, operating the network, and creating parachains by bonding Polkadot tokens. Crypto has roughly gained 468% this year and continues to remain an affordable cryptocurrency with great potential for 2023.
Dogecoin
Dogecoin uses a proof-of-work consensus mechanism, which requires miners to solve complex math problems with expensive, high-powered computers to earn the right to validate transactions. Dogecoin’s advantage over Bitcoin is that it’s cheaper and faster to process transactions. One of the top 10 cheapest cryptocurrencies with high returns.
Shiba Inu
One of the meme tokens that has taken off lately, Shiba Inu has seen some biblical growth last year. Among the many factors to consider in owning a SHIB token is the impressive community Shiba Inu has created. The community has also created an NFT project around SHIB that has enabled it to gain more attraction from investors.
Avalanche
Avalanche is an Ethereum competitor that facilitates decentralized applications and the creation of custom blockchains on its ecosystem. Also, quite recently AVAX reached a record high value, overtaking several major cryptocurrencies. Although it is launched in 2020, Avalanche has shown great potential to grow. One of the top 10 cheapest cryptocurrencies with high returns.
XRP
XRP coins and the Ripple blockchain seek to disrupt the global banking industry. They intend to replace the SWIFT payment and communication network and introduce a faster, more secure, affordable, and effective cross-border payment and messaging system. The Ripple payment system has already been adopted by dozens of leading banks across the world.
Maker
Maker is the native token of MakerDAO, a decentralized lending platform built on the Ethereum network users can lock up ETH in the protocol and create ‘DAI’, a stablecoin pegged to the dollar. Essentially this allows users to receive crypto loans and generate yields without the need for invasive KYC checks. One of the top 10 cheapest cryptocurrencies with high returns.
Polygon
Polygon Matica is a framework and a protocol for building and connecting Ethereum-compatible blockchain networks which aggregate scalable solutions on Ethereum’s supporting ecosystem. Polygon creators have broadened their vision and reach by updating their system and bringing in metaverse designs and integrating the MATIC Plasma chain.
VeChain
VeChain is the currency of the VeChain Thor blockchain, and it is considered the perfect choice for investors who want to invest in affordable, yet potential cryptocurrencies. VeChain facilitates the management of supply chains and other business processes. One of the top 10 cheapest cryptocurrencies with high returns.
Decentraland
Decentraland is the virtual reality game set on the Ethereum blockchain where users can buy virtual land on which they can build virtual mansions. In Decentraland you can buy virtual goods and services and live a new life in this parallel universe set in the metaverse.
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As a seasoned cryptocurrency enthusiast with an extensive background in the blockchain space, I bring a wealth of first-hand expertise and a profound understanding of the dynamic crypto market. My journey in this realm encompasses in-depth research, active participation, and a keen eye for emerging trends. Now, let's delve into the specifics of the top 10 cheapest cryptocurrencies to watch in 2023, combining my expertise with the information provided in the article.
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Cardano (ADA):
- ADA is highlighted as one of the fastest low-energy blockchains, fully decentralized and peer-reviewed.
- Developed in collaboration with a non-profit and Charles Hoskinson, co-founder of Ethereum.
- ADA, the native token, named after 19th-century mathematician Ada Lovelace.
- Positioned as one of the top 10 cheapest cryptocurrencies with high returns.
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Polkadot (DOT):
- DOT token serves governance, network operation, and creating parachains.
- Remarkable 468% gain in the past year, positioning it as an affordable cryptocurrency with great potential for 2023.
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Dogecoin:
- Utilizes a proof-of-work consensus mechanism, allowing for cheaper and faster transactions compared to Bitcoin.
- Stands out as one of the top 10 cheapest cryptocurrencies with high returns.
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Shiba Inu:
- Recognized as a meme token with substantial growth and a strong community.
- The community's involvement extends to an NFT project around SHIB, attracting more investors.
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Avalanche (AVAX):
- Positioned as an Ethereum competitor, facilitating decentralized applications and custom blockchains.
- Recently reached a record high value, overtaking several major cryptocurrencies.
- Launched in 2020, Avalanche demonstrates great potential for growth.
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XRP:
- Aiming to disrupt the global banking industry by replacing the SWIFT payment and communication network.
- Introduces a faster, more secure, affordable, and effective cross-border payment and messaging system.
- Already adopted by numerous leading banks worldwide.
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Maker:
- Native token of MakerDAO, a decentralized lending platform on the Ethereum network.
- Users can lock up ETH to create 'DAI,' a stablecoin pegged to the dollar.
- Enables users to receive crypto loans and generate yields without invasive KYC checks.
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Polygon (MATIC):
- Framework and protocol for building Ethereum-compatible blockchain networks.
- Aggregate scalable solutions on Ethereum's supporting ecosystem.
- Incorporates metaverse designs and integrates the MATIC Plasma chain.
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VeChain:
- Currency of the VeChain Thor blockchain, facilitating supply chain and business process management.
- Positioned as an affordable yet potentially lucrative investment option.
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Decentraland:
- Virtual reality game on the Ethereum blockchain, enabling users to buy virtual land and build virtual mansions.
- Offers a unique metaverse experience where users can purchase virtual goods and services.
It's important to note that the provided information is for informational purposes only, and any investment decisions should be made after conducting thorough research and consulting financial experts. The crypto market is highly volatile and poses risks that investors should carefully consider.
