Best cheap crypto to invest in 2024

Is it a good idea to buy cheap cryptocurrencies now?

It can be a good idea to buy cheap cryptocurrencies now, especially if you are looking for long-term investments with good prospects. In fact, there are several arguments in favor of buying cheap crypto now:

I. History has shown that investing in cryptocurrency during bear markets can lead to solid returns in the long run. Many investors who bought into the crypto market during previous bear markets have seen significant returns once the market recovered.

II. The Federal Reserve may be finishing its cycle of interest rate hikes, which could be a positive sign for the crypto market. Furthermore, with the potential for interest rates to level off or even decrease in the future, the crypto market may see some relief from this headwind.

III. Buying cheap crypto now allows you to take advantage of lower prices and potentially see bigger returns when the market recovers. While there is no way to predict exactly when the market will bounce back, purchasing crypto at a lower price means you'll be in a better position to see significant returns once the market does start to turn around.

IV. Many experts believe that the long-term prospects for cryptocurrency are positive, making it a good choice for a long-term investment. While the market has been volatile in the past, the underlying technology of cryptocurrency (such as blockchain) has the potential to revolutionize a wide range of industries, making it a potentially lucrative investment in the long run.

However, it's important to note that the crypto market is inherently risky, and there is no guarantee that it will recover. It's always possible that you could lose money, so it's essential to carefully consider the risks before making any investment. It's crucial to do your own research and only invest what you can afford to lose. Additionally, it's a good idea to diversify your portfolio by investing in various cryptocurrencies rather than putting all your eggs in one basket. Find out about the best cryptocurrencies under 1 cent with growth potential in thе TU article.

Best crypto exchanges 2024

1

9.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

$30

Review

The XT.com exchange is a platform for P2P exchange and cryptocurrency sales, including derivatives and margin trading. This is also an exchange for fiat funds. The peculiarity of the cryptocurrency exchange is that it issues its proprietary cryptocurrency and provides users with software for mining. Bitcoin, Ethereum, Litecoin, Tether, Tron, Ripple, and other cryptocurrencies are traded on the website, with over 120 instruments provided here in total. There are tokenized assets. The leverage can be up to 125x depending on the selected asset. Any strategy can be used on the cryptocurrency exchange, including scalping. There are stop loss and profit functions. The storage method for cryptocurrencies is cold. Replenishment and withdrawals are possible from bank cards and accounts to bank cards and accounts. A standard affiliate program and special bonuses for blockchain members are offered.

Pros/Cons

•Cryptocurrencies and other varieties of currencies;

•Replenishment in fiat currencies;

•Favorable trading commissions;

•Leverage is up to 125x.

•Proprietary mining platform;

•Large trading volumes; high liquidity.

•Convenient trading terminal;

•No investment programs (only deposits);

•No training programs or study guides.

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

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.

Is the cryptocurrency market cheap now?

As we analyze the cryptocurrency market towards the end of 2023 and the beginning of 2024, a notable shift in momentum is evident. The Q3 of 2023 has witnessed a significant rise in the prices of most cryptocurrencies, signaling a transition from a bearish to a bullish market. This positive change is further compounded by the recent Securities and Exchange Commission's (SEC) approval of Bitcoin ETFs, a move that has injected a fresh wave of optimism and legitimacy into the crypto space.

This approval marks a pivotal moment for cryptocurrency, enhancing its accessibility and attractiveness to a broader range of investors, including those in traditional financial markets. It's a strong indication of the maturing landscape of cryptocurrency as a recognized asset class.

However, whether the market is "cheap" is subjective and depends on individual investment strategies and market perspectives. The recent price increases suggest that the market is rebounding from its previous lows, potentially offering a less favorable entry point for those seeking undervalued assets.

Yet, for long-term investors, the growing acceptance and integration of cryptocurrencies into mainstream finance, combined with the current momentum, might indicate a valuable investment opportunity.

How to choose a cheap crypto for the long term?

Experts have outlined the following key factors to consider when choosing a cheap crypto for the long term:

1. Active project development: Choosing a crypto that is actively being developed and maintained by its team is essential. This can signify that the project has a strong future ahead of it.

2. Active community: A strong and engaged community can be a good indicator of a crypto's long-term prospects. Look for coins with a large and active community of developers, users, and investors.

3. Strong team: The team behind a crypto project is crucial to its success. Look for projects with a team of experienced and respected professionals in their field.

4. Big plans: Choose a crypto with big plans for the future. Look for projects with a clear roadmap and a vision for how they plan to grow and succeed in the long term.

By considering these factors, you can help ensure that you choose a project with the potential for long-term growth, even though it’s cheap. But also remember, it is important to note that the cryptocurrency market is highly volatile, and the value of any coin is subject to change.

When to buy cheap crypto?

Experts have outlined the following guidelines that you can follow when considering to buy cheap cryptocurrency:

1. Buy for the long term during bear markets: If you believe in the long-term potential of a particular cryptocurrency, you may want to consider buying during a bear market when prices are low. This strategy is often referred to as "buy the dip". However, remember that buying during a bear market does not guarantee that the price will eventually recover, so you should only invest what you can afford to lose.

2. Speculate on price movements: If you are interested in trading cryptocurrency and trying to make money from short-term price movements, you will need to learn how to use trading signals and employ risk-management strategies to protect your capital. This approach carries a higher level of risk and requires a more active approach to managing your investments.

Regardless of your approach, it's essential to do your research and due diligence before buying any cryptocurrency. This includes understanding the cryptocurrency's technology, the project's team, and the overall market conditions.