Best cheap crypto to invest in 2024

Top cheapest cryptocurrencies to buy in 2024

1. Seedify Fund (SFUND)

Seedify Fund is a blockchain incubator and launchpad that focuses on nurturing and funding innovative projects in the cryptocurrency space. As an integral part of the DeFi (Decentralized Finance) ecosystem, SFUND provides a platform for project creators to access funding, advisory support, and a community-driven environment.

The uniqueness of Seedify Fund lies in its community-focused approach, where token holders can vote on key decisions and participate in project launches. This democratization of the funding process for blockchain projects is a game-changer, making SFUND a potentially lucrative investment, especially with the increasing interest in DeFi projects.

With its innovative approach to project funding and strong community backing, Seedify Fund stands out as a promising investment opportunity, particularly in a market that values decentralization and community governance.

2. Dogecoin (DOGE)

Dogecoin, initially created as a joke based on a popular internet meme, has evolved into a prominent cryptocurrency with a substantial following. One of the unique aspects of Dogecoin is the influence of high-profile endorsements, notably from tech mogul Elon Musk, whose comments and tweets have been known to significantly impact the coin's value.

This phenomenon has positioned Dogecoin as a highly volatile yet potentially rewarding investment, especially for those attuned to social media trends and influencer impacts in the crypto market.

While its practical use cases may be limited compared to other cryptocurrencies, Dogecoin's popularity, ease of use, and the strong community support it enjoys, coupled with Musk's tendency to 'pump' its value, make it an intriguing option for investors looking for unconventional growth opportunities in the cryptocurrency space.

3. Cardano (ADA)

Cardano stands out in the cryptocurrency world for its scientific approach and emphasis on sustainability. The upcoming Voltaire upgrade is a pivotal factor enhancing ADA's investment appeal.

This upgrade introduces a decentralized governance model, enabling the Cardano community to directly participate in decision-making through a voting and treasury system. Such community-driven governance is a rarity in blockchain, potentially increasing Cardano's allure.

Additionally, Cardano's commitment to peer-reviewed development and its layered structure positions it as a robust, forward-thinking platform. The Voltaire upgrade, pivotal for democratizing network decisions, could significantly elevate Cardano's industry standing, making ADA an attractive choice for those seeking innovation and community involvement in their cryptocurrency investments.

4. Immutable (IMX)

Immutable X is carving a niche in the Web3 gaming world as a leading Layer 2 scaling solution for Ethereum, specifically tailored for NFTs and gaming applications. It offers zero gas fees, instant trade confirmations, and massive scalability, features particularly beneficial for gaming developers and players in the burgeoning Web3 space.

This platform facilitates a seamless, cost-effective environment for trading gaming-related NFTs, enhancing the player experience by removing the usual financial barriers. Immutable X's commitment to a carbon-neutral approach also resonates with the growing environmental consciousness in the tech community.

As Web3 gaming continues to gain momentum, Immutable X's specialized focus on this sector, combined with its innovative technology, positions it as a strategic investment for those interested in the intersection of blockchain, gaming, and digital collectibles.

5. Polygon (MATIC)

Polygon, previously known as Matic Network, is a Layer 2 scaling solution for Ethereum that aims to improve the scalability and user experience of the network while not compromising on security. With the anticipated 2024-2025 bull run, Layer 2 solutions like Polygon are positioned for significant growth, as they address the key issues of high fees and slow transaction speeds on Ethereum's main chain.

Polygon uses a modified proof-of-stake consensus mechanism to ensure low transaction fees and faster confirmation times, making it an attractive platform for developers and users alike. It supports Ethereum-compatible blockchain networks and is seen as a bridge to a multi-chain Ethereum ecosystem. Polygon's adaptability and its potential to enhance the capabilities of Ethereum make it a promising investment in the cryptocurrency market.

6. Filecoin (FIL)

Filecoin is a decentralized storage network that has positioned itself as a vital player in the field of artificial intelligence (AI). As AI continues to advance and expand, the demand for secure, scalable, and decentralized storage solutions is surging.

Filecoin meets this demand by offering a platform where users can rent out their unused storage space, creating a decentralized and efficient data storage market. This approach not only addresses the growing storage needs of AI technologies but also ensures data integrity and accessibility. The combination of Filecoin's decentralized storage solutions and the burgeoning field of AI presents a unique investment opportunity.

As AI increasingly leans towards decentralized storage for managing its vast data requirements, Filecoin's relevance and potential for growth in this rapidly advancing sector become more pronounced, marking it as a noteworthy choice for forward-thinking investors.

7. Gala (GALA)

Gala is emerging as a significant player in the blockchain gaming and entertainment industry. Its primary aim is to revolutionize gaming by giving players more control over their gaming experiences and assets.

Gala operates on a decentralized network, allowing players to own their in-game items as non-fungible tokens (NFTs), a feature that's becoming increasingly popular in the gaming community. This approach not only enhances player engagement by providing real ownership but also potentially creates new economic opportunities within the gaming world.

Furthermore, Gala's focus on using blockchain to democratize the gaming industry aligns with current trends towards player empowerment and game decentralization. As the gaming industry continues to grow and evolve with blockchain technology, Gala's innovative approach makes it an attractive investment for those interested in the intersection of gaming, blockchain, and digital ownership.

8. Avalanche (AVAX)

Avalanche is rapidly establishing itself as a key player in the Web3 gaming world. Known for its high efficiency and scalability, Avalanche is attracting a growing number of Web3 games to its platform. Its ability to handle transactions swiftly and cost-effectively makes it particularly suitable for gaming applications, where performance and affordability are essential.

Avalanche provides a robust infrastructure that supports complex and interactive gaming experiences, a critical factor for developers in this space. As the Web3 gaming sector continues to expand, Avalanche's leading role in this area, coupled with its advanced technological capabilities, positions AVAX as an attractive investment for those interested in the dynamic and growing intersection of blockchain and gaming.

9. Tezos (XTZ)

Tezos (XTZ) is a decentralized, self-amending blockchain platform that can evolve and improve over time by upgrading itself through a formalized on-chain governance process. It is built on a proof-of-stake consensus algorithm and aims to be a secure and decentralized platform for smart contracts and decentralized applications.

10. Hedera (HBAR)

Hedera stands out in the blockchain space with its unique hashgraph technology, offering a high-speed, secure, and scalable platform. Unlike traditional blockchains, Hedera's hashgraph consensus allows for faster transaction speeds and lower fees, making it an appealing choice for various applications, from finance to supply chain management.

HBAR, Hedera's native token, plays a crucial role in securing the network and facilitating operations within its ecosystem. What sets Hedera apart is its governance model, which is overseen by a council of reputable global organizations, ensuring stability and ongoing development.

As enterprises increasingly seek efficient and trustworthy blockchain solutions, Hedera's distinctive technology and strong governance model position HBAR as a noteworthy investment, especially for those looking at long-term growth and adoption in diverse industries.

Best crypto exchanges 2024

1

9.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

$1

Review

The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit). More about Binance Card

Pros/Cons

•low commissions due to liquidity and trading volumes.

•high platform performance;

•proprietary BNB Coin which allows Binance to reduce the commission size;

•a proprietary cold wallet guarantees the security of your crypto assets by storing them.

•complex verification procedure;

•the exchange is not licensed by a regulator;

•The platform can go offline without warning;

•there are complaints about the technical functionality of the platform;

•there is an intricate mechanism for calculating commissions and rewards (grid system Maker/Taker).

Study Review

2

9.2/10

Go to broker

Your capital is at risk.

Minimum deposit:

₮1

Review

The BitGet crypto exchange provides traders with the opportunity to trade in spot, futures, and cryptocurrency. Cryptocurrency is used exclusively as instruments at the exchange: BTC (₿), LTC (Ł) ETH (Ξ), USDT (₮) and others. Trades are carried out on the crypto exchange’s own platform, which is available as a web terminal and an application for mobile devices. BitGet's fees are lower than its competitors in the market, with maker fees of 0.02% and takers of 0.06%. The commission can also be paid with bonus funds that each BitGet client receives upon registration, verification, and a trading account replenishment. There are no fees for maintaining an account, but a commission is charged upon withdrawal, the amount of which depends on the cryptocurrency in which the withdrawal is made. For investors, BitGet offers its own service for copying trades, and it is available at the exchange and at an affiliate program. Novice traders can use demo accounts to hone their trading skills, but there are no educational materials on the website. The BitGet cryptocurrency exchange provides services on an international level and cooperates with traders from different countries.

Pros/Cons

•availability of demo accounts;

•convenient ways to contact the support service;

•a wide range of cryptocurrencies for account replenishment;

•service of copying trades for receiving passive income;

•ability to reduce commissions using credits earned in the bonus program;

•ability to engage in algorithmic trading;

•the exchange uses hot and cold cryptocurrency wallets to store client funds.

•Deposits and withdrawals in fiat currencies are not available.

•There are no educational materials for novice traders on the exchange website.

Study Review

Is the cryptocurrency market cheap now?

The cryptocurrency market appears to be in a transitional phase based on current indicators and recent events. In late 2023, many cryptocurrencies saw a notable rise in price, potentially signifying a shift from bearish to bullish sentiment.

A key development bolstering optimism was the SEC's approval of Bitcoin ETFs in early 2024. This landmark decision increased legitimacy and mainstream acceptance within the crypto sector, making it more accessible and appealing to a wider range of investors, beyond just those from technical or early-adopting backgrounds.

Of course, whether the current market valuations could be considered "inexpensive" depends on one's perspective and strategy. The recent upticks suggest recovery from prior lows, which may present a less optimal entry point for bargain-seeking.

However, for longer-term oriented investors, crypto's growing integration within traditional finance systems, combined with this current positive momentum, could still represent an attractive investment proposition. Naturally, regulatory movements, institutional uptake, and technological advances will likely continue shaping the market's direction going forward.

How to choose a cheap crypto for the long term?

When looking to invest in a cheap cryptocurrency for the long haul, there are several key factors to consider that can help you identify projects with strong potential. Here are some essential aspects to evaluate:

• Project fundamentals. Take a deep dive into the project's whitepaper, roadmap, and overall vision. Look for a clear, achievable, and innovative plan that addresses real-world problems or offers unique solutions within the crypto ecosystem.

• Development activity. Assess the project's GitHub repository to gauge the level of ongoing development. An active, committed team that consistently delivers on its promises is a positive sign for long-term growth.

• Market adoption and partnerships. Investigate the project's real-world use cases, partnerships, and collaborations. Cryptocurrencies with growing acceptance, integration with established platforms, or ties to reputable organizations have a stronger foundation for future success.

• Community engagement. A vibrant, supportive community can be a powerful driver of a cryptocurrency's long-term prospects. Evaluate social media channels, forums, and online discussions to understand the level of genuine enthusiasm and constructive dialogue surrounding the project.

• Tokenomics. Analyze the cryptocurrency's token distribution, inflation rate, staking rewards, and overall economic model. Look for a balanced, sustainable approach that aligns with the project's long-term goals and incentivizes holding.

• Comparative analysis. Compare the cryptocurrency's features, performance, and growth potential against similar projects in the market. Identify its unique selling points and competitive advantages that could fuel its success over time.

Remember, no single factor guarantees a cryptocurrency's long-term success and the crypto market is inherently unpredictable.

When to buy cheap crypto?

Timing the market is always tricky, especially in the volatile world of cryptocurrencies. However, there are certain situations and strategies that can help you decide when to buy cheap crypto:

1. During market corrections. Significant dips in the overall crypto market can present opportunities to buy promising projects at a discount. However, it's essential to differentiate between temporary corrections and the onset of a prolonged bear market. Conducting thorough research and analyzing market trends can help you make informed decisions during these periods.

2. Dollar-cost averaging (DCA). This strategy involves investing a fixed amount of money into a cryptocurrency at regular intervals, regardless of price fluctuations. DCA can help mitigate the impact of volatility and reduce the risk of buying at peak prices. By consistently investing in cheap crypto over time, you can potentially accumulate a larger position at an average cost.

3. During periods of low market sentiment. Crypto markets are heavily influenced by investor sentiment. When the overall market sentiment is low, and fear dominates, prices tend to be suppressed. Buying during these periods can be an opportunity to acquire cheap crypto at a bargain, provided you have a strong conviction in the project's long-term potential.

4. Before anticipated catalysts. If you anticipate a major event or development that could positively impact a specific cheap cryptocurrency, buying before the news breaks can be a strategic move. This could include upcoming listings on major exchanges, expected regulatory changes, or high-profile collaborations. However, be cautious of "buy the rumor, sell the news" scenarios where prices might dip after the actual event.

Keep in mind that trying to perfectly time the market is rarely feasible, and even the most well-informed investors can face unexpected challenges. Therefore, it's advisable to start with small positions, diversify your portfolio, and always be prepared for potential losses in the highly volatile crypto market.