The hottest talk around town these days is cryptocurrency, especially among people who are looking to invest. Previously considered unsafe and complicated, the crypto world has suddenly become popular, almost becoming a household name around the globe. When all of this is considered, even the ordinary investor is now familiar with bitcoin and the cryptocurrency trend. Bitcoin is not, however, the only cryptocurrency available.
There is a whole slew of cryptocurrencies that are circulating in the market. Most of these tokens are popular and good investment options, especially for day traders. To buy crypto in India, the process is simple and can be finished in a day or two. Once you have completed that, you can start making trades. The only problem is, since cryptocurrency is so volatile and investments can turn risky, it is important to know what to invest in and how much. So make sure you do your homework before jumping the gun. Here are a few options that you can check out.
Ripple (XRP): Value Is Approximately $0.4017
XRP is a cryptocurrency that runs on the XRP Ledger, an open-source distributed ledger. It was built by Ripple, an enterprise blockchain firm that enables global transactions. XRP was built for payments, according to Ripple, and can settle transactions faster, more consistently, and at a lower cost than present global payment infrastructure. The US Securities and Exchange Commission has now filed a lawsuit against Ripple, claiming that it engaged in unregistered securities trading. A new lawsuit filed by a government group alleging that SEC staff are biased against Ripple and XRP may help to resolve the Ripple issue in favor of investors.
XRP’s price has plummeted dramatically in comparison to a year ago, and it is currently accessible for much less than $1 which makes it a great time to buy this token as it is predicted it will gain value in the coming months.
Dogecoin (DOGE) : Value Is Approximately $0.08186
At under $0.08 per coin, the currency is undoubtedly “affordable,” particularly when compared to its 52-week peak of $0.4234. Dogecoin, unlike many other cryptocurrencies that fulfill real-world purposes, was established as a satirical take on bitcoin. Last year, the cryptocurrency skyrocketed due to Elon Musk’s excitement on message boards and Twitter. It is highly possible that buying dogecoin may pay off in the following year. Musk indicated in a tweet in December 2021 that alluded to the fact that Tesla might soon start accepting DOGE payments.
However, dogecoin has been severely impacted by the recent crypto sell-offs. It remains to be seen if it can continue to recover from the downturn, but many investors regard the drop as a buying opportunity.
Shiba Inu : Value of the coin is approximately $0.0007
Another extremely affordable cryptocurrency is the competitor of dogecoin called shiba inu. This dog themed meme coin is termed as the ‘doge killer’ and rightly so. In a short while, shiba inu has captured a lot of public support and a portion of the market. Its price is driven by its supporters and followers called Shib army and the support of public figures such as Elon musk and Mark Cuban. This is a great time to buy shiba inu as the price is expected to rise in a few months.
Chainlink : Value Of The Coin Is Approximately $7
Chainlink is another Ethereum based currency that is used to fuel the Chainlink decentralized oracle network. This network is used to connect to external data sources, APIs, and payment systems in a secure manner. Chainlink promotes itself as allowing real-world data and off-chain computing to increase the capabilities of smart contracts while retaining the benefits of blockchain technology, including its security and reliability assurances. The chainlink price fluctuates in fits and starts and is now around $7.00, down over 80% year on year, providing investors with an opportunity to purchase low.
Cardano : Value Is Approximately $0.5562
Amid the cryptocurrency meltdown, Cardano has been pushed back from an all-time high of $3.10 in September 2021. Cardano is a blockchain platform built on the Ouroboros proof-of-stake consensus algorithm, which can approve transactions without incurring exorbitant energy expenditures. According to its inventors, Ouroboros supports the Cardano network’s decentralization and provides the ability to scale to meet global demand while maintaining security. Cardano has a solid track record thus far. According to experts, it has performed over 20 million transactions with little downtime, and it just launched ADACash, a rewards token that has attracted 10,000 users in less than a month. Two planned endeavors include a non-fungible token marketplace and a DeFi transaction exchange. As of late April, almost 900 projects were being constructed on the Cardano blockchain, roughly 400 of which were new.
With these low priced cryptocurrencies, you can add diversity to your portfolio while incurring minimal risk in the process.