Many crypto projects in this market have a significant supply of tokens.
This means that it is often possible to purchase a large amount of tokens without having to invest a large amount of capital.
In this guide, we discuss the best cryptocurrencies under $1 to buy today to take advantage of the current bear market.
13 Best Cryptocurrencies Under $1 to Buy Right Now
We've identified the following 13 crypto projects to watch out for in the current bear cycle.
Tamadoge – Overall best cryptocurrency under $1 with huge upside potential
Battle Infinity - a new crypto project that revolutionizes the fantasy sports industry
Lucky Block – An innovative crypto platform offering NFT contests and prizes
XRP – A large cap cryptocurrency with a low token price
Cardano - an energy-efficient crypto-asset under $1
Dogecoin – Meme Coin with popular online following
Shiba Inu - A micro-cryptocurrency token with Metaverse ambitions
Cronos - Invest in the ever-growing Crypto.com ecosystem
Decentraland - The leading metaverse ecosystem with land ownership
The Graph - Open-Source Indexing Protocol for Blockchains
Basic Attention Token - Consumers get paid for attention through relevant ads
1inch – A decentralized exchange aggregator that seeks to find the best possible cryptocurrency prices
Stellar - A low-cost blockchain network for cross-border transactions
The best cryptocurrency under $1 to buy will vary depending on the investor's risk appetite and long-term goals.
Therefore, in the following sections of this guide, we analyze the most undervalued cryptocurrencies listed above in great detail to allow investors to make an informed decision.
Analysis of the best cryptocurrency under $1
Building a portfolio of crypto assets with a cost price below $1 can be beneficial for many reasons.
After all, investors can gain exposure to many different projects with a modest amount of investment capital and at the same time receive a significant amount of tokens.
Below we analyze and rank the best cryptocurrencies under $1 on the market right now.
1. Tamadoge - Overall best crypto under $1
Tamadoge is perhaps the best sub-$1 cryptocurrency to explore right now given how successful its recent pre-sale campaign was. In short, in less than two months, Tamadoge managed to raise more than 19 million dollars. This makes Tamadoge one of the best crypto ICOs of 2022
The good news is that Tamadoge is a brand new project at the very beginning of its ambitious development journey, so investors can still buy TAMA tokens at a favorable entry price. Tamadoge is building a gaming ecosystem that rewards players for their time.
In order to join the game, players will first need to mint an NFT, which will then create a unique virtual pet. Players will need to take care of their virtual pet to give it the best possible chance when entering Tamadog battles.
Tamadog battles offer players the chance to earn crypto rewards - paid in TAMA. There will also be the option of breeding virtual pets within the Tamadoge ecosystem. As one of the best new NFT projects, virtual pets are also backed by NFTs that run on the Ethereum blockchain.
The team at Tamadog will also create immersive experiences for players through augmented reality. Picture the scene - players will be able to hunt for TAMA tokens in a virtual environment that connects with the real world.
This will be achieved through a mobile application that connects the metaversions of Tamadoge with the real world. Although the Tamadoge cryptocurrency pre-sale is already sold out, the project recently announced that it will be listed on the first-tier exchange OKX.
This is huge news for early investors, considering that OKX is one of the largest crypto exchanges in the world for both trading volume and registered users. The best way to stay informed about future listings and project developments is to join the Tamadoge Telegram group.
2. Battle Infinity – a new crypto project that revolutionizes the fantasy sports industry
Battle Infinity could also be the best cryptocurrency under $1 based on its recent pre-sale campaign. Like Tamadoge, Battle Infinity is a brand new project that recently broke the overall ICO barrier. Simply put, Battle Infinity raised the equivalent of $5 million in just 24 days. This again highlights that even during a bear market, cryptocurrency pre-sales remain hot.
Battle Infinity is building a "multiverse" ecosystem that offers a complete set of multiplayer games that work on the principle of "play-to-earn". Players from all over the world will thus be able to play Battle Infinity games with a view to earning crypto rewards.
The first gaming product to launch at Battle Infinity is the IBAT Premier League – a unique take on fantasy sports. In short, the IBAT Premier League will initially focus on cricket. players will have to build their own team of cricketers with a limited budget.
As each player plays in real world cricket matches, Battle Infinity users will collect points. The more points generated, the bigger the crypto rewards - which are distributed in IBAT tokens. After the launch of cricket, other sports will be added to the IBAT Premier League.
This will include football, basketball, American football and more. In addition to fantasy sports, more multiplayer games will be added to the Battle Infinity multiverse. The project will also launch a decentralized exchange where players can cash out their IBAT tokens. Players can also earn additional IBAT by inserting tokens into the Battle Infinity ecosystem.
Other aspects of this project include NFT ownership of game assets. As for how to buy Battle Infinity, IBAT can be purchased on PancakewSwap. IBAT is also listed on the LBANK centralized exchange.
3. Lucky Block – An innovative crypto platform offering NFT contests and prizes
One of the most sought-after cryptocurrencies this year is Lucky Block, not least because of its extremely successful pre-sale launch that raised over $5 million in early 2022. The LBLOCK token subsequently generated gains in excess of 6,000%.
This marked LBLOCK as the fastest crypto asset to reach a billion market cap after an ICO. For those who don't know about Lucky Block, the project is building a competitive NFT platform. Players can participate in lucrative prize draws simply by holding NFTs.
Prizes include $1 million worth of Bitcoins, a $1 million property in the UK, VIP tickets to the World Cup and a 5-star holiday. Each competition will have its own unique collection of NFTs. Once the collection is sold out, the draw will take place under the Lucky Block smart contract.
This ensures that all Lucky Block competitions are random, fair and transparent. One of the main attractions of entering the Lucky Block competition is that NFTs will continue to generate passive income as long as it is held.
4. XRP – A large cap cryptocurrency with a low token price
XRP is the native cryptocurrency of the Ripple network. Ripple – which was founded in 2012, offers payment network technology to banks and financial institutions for cross-border transactions.
Using the Ripple network, transactions take only 4-5 seconds to process regardless of where the sending and receiving parties are located. In addition, it costs financial institutions only a fraction of a cent to initiate cross-border payments.
This is in stark contrast to the traditional SWIFT system, which is usually slow, expensive and generally inefficient. As the native token of this project, XRP is therefore one of the best sub-$1 cryptocurrencies to consider today.
XRP has by far the largest market cap on this list of cryptocurrencies under $1. At the time of writing, the project is valued at more than $23 billion. However, the price of the XRP token is below $0.50 at the moment.
This is because XRP has a large circulating supply of almost 50 billion tokens. However, XRP is trading well below its all-time high of $3.84 – which was hit in early 2018. At the time of writing, XRP is trading 87% lower than its previous high.
Recently, XRP is hitting a 52-week high of $1.35. Compared to prices at the time of writing, this offers an increase of more than 180% should XRP return to this level when the next crypto bull market is again in effect.
5. Cardano – Energy efficient crypto asset under $1
Cardano is another project that is considered in this list of the best cryptocurrencies under $1. Unlike Bitcoin, Cardano is considered one of the most energy efficient cryptocurrencies in the space. This is because Cardano is a proof-of-stake coin.
As a result, the underlying network does not rely on highly competitive mathematical algorithms to verify transactions. So-called miners, on the other hand, are not rewarded in the project's native token - ADA. The Cardano network, which is similar in nature to Ethereum, allows developers to deploy and execute smart contract agreements.
This opens the door for external projects and crypto assets to build their framework on top of the Cardano network
Cardano is also considered to be one of the best crypto betting platforms in this space. ADA holders can stake their tokens directly on the Cardano network and generate passive income. Like the previously discussed XRP, Cardano is a large cap project.
At the time of writing, the project has a market capitalization of over $15 billion. Again, its low cost price - which is under $0.50 at the time of writing is due to its large circulating supply of over 24 billion ADA tokens.
As for its performance, Cardano was valued at $2.38 in the last bull market. This means that at the time of writing, investors can buy this top trending crypto at a discount of over 80%.
6. Dogecoin – Meme Coin with popular online following
Dogecoin is a meme coin that was first launched in 2013. This digital currency was originally created as a joke to illustrate how speculative the industry has become. However, in 2021, Dogecoin became mainstream in the crypto community – resulting in an unprecedented bull run.
For example, Dogecoin was trading for just $0.009 in January 2021. In May 2021, the same digital currency reached an all-time high of $0.74. In just five months of trading, this means dogecoin investors have seen gains of over 8,000%.
And of course, those who held dogecoin tokens for several years before the bull run would be looking at even more significant growth. Whether or not another bull run remains in Dogecoin remains to be seen. However, what we do know is that Dogecoin has a huge community in the online space.
Additionally, Tesla and SpaceX CEO Elon Musk is a self-proclaimed believer in the future of dogecoin. So much so that some Tesla products can be purchased with Dogecoin. Even more telling is that Tesla actually holds Dogecoin on its balance sheet.
While Tesla has recently sold some of its Bitcoin holdings, it has refrained from cashing out any of its Dogecoin holdings. Right now, investors can buy Dogecoin at a discount of over 90% compared to its previous high of $0.74.
7. Shiba Inu - A micro-cryptocurrency token with Metaverse ambitions
In a similar nature to the previously discussed Dogecoin, Shiba Inu is one of the best cryptocurrencies under $1 for those buying into the trending meme coin market. Shiba Inu was launched in mid-2020 by a team of anonymous developers who have chosen not to reveal their identity to this day.
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This is despite the fact that Shiba Inu is now a large-cap cryptocurrency project with a multi-billion dollar valuation. Shiba Inu went from obscurity to top-15 coins by market capitalization in just 18 months.
This unprecedented journey meant that early Shiba Inu investors have since seen growth of several million percent. Although Shiba Inu was originally created as a meme coin with little real-world use, the project has since expanded into a meta version.
Similar to Decentraland and Sandbox, investors will be able to purchase virtual plots of land in the metaverse world of Shiba Inu. The native token of the metaverse is SHIB, which adds it to the list of the best metaverse coins to watch in 2022. With a huge circulating supply of over 589 trillion tokens, Shiba Inu is also an extremely cheap cryptocurrency to buy.
At the time of writing, for example, one SHIB token is trading for just $0.00001. Therefore, $100 would allow investors to buy more than 10 million tokens. According to the current bear market, the Shiba Inu is trading at a discount of almost 90% compared to its previous all-time high.
8. Cronos – Invest in the ever-growing Crypto.com ecosystem
Many major crypto exchanges have since launched their own digital asset to support the underlying ecosystem. Examples include Binance and its BNB token, which is now one of the most valuable projects in the space.
Those looking for the best cryptocurrency under $1 to buy can consider Cronos instead. This digital asset supports the Crypto.com ecosystem, which is home to a wide range of diversified products and services. In the foreground is the Crypto.com exchange.
Although Crypto.com already offers one of the lowest commission rates in the industry, it provides additional discounts to Cronos holders. This will appeal to those who generally trade with large amounts of capital.
In addition, Crypto.com offers interest-bearing accounts that generate interest. Investors can increase the APY earned by staking Cronos tokens. Crucially, Cronos offers real-world utility, which is why it is now one of the best cryptocurrencies under $1.
A key challenge for Crypto.com is to start increasing its market share in the exchange space, which is currently heavily dominated by Binance. If it can do that, there's a good chance that Cronos can continue to increase its market value. meanwhile, Cronos is trading at a huge discount from its 52-week high of $0.96.
9. Decentraland - The leading metaverse ecosystem with land ownership
Those looking to invest in the future of the metaverse concept may want to explore Decentraland. Alongside Sandbox, Decentraland is a leading metaverse project that allows users to explore virtual worlds and socialize alongside their digital avatar.
One of the most attractive aspects of Decentraland is that land can be purchased in its virtual world. Transactions are carried out with the project's native digital asset - MANA. When buying land, it is then up to the owner how he wishes to proceed.
The first option is to build a virtual property on the land. Due to the virtual nature of the Decentraland metaverse, the possibilities are limitless in this regard. Alternatively, investors can seek to sell their virtual land on the open market.
Before the crypto bear market took place, Decentraland was attracting some serious investors and some plots were selling for over a million dollars. One of the best ways to invest in the future growth of Decentraland is to buy MANA tokens.
10. The Graph - Open-Source Indexing Protocol for Blockchains
Graph could be a great addition to an investment portfolio given its unique product offering. In short, Graph is an open-source protocol that allows the blockchain to index data on the relevant network.
The reason why this could be a huge market in the coming years is that as the crypto space becomes mainstream, the requirements for blockchain networks become more intense. On the other hand, as blockchain throughput increases, it has the undesirable effect of congesting the network – resulting in slower and more expensive transactions.
The Graph solves this problem by indexing data to ensure that blockchains can retrieve relevant information as needed, no matter how busy the network is. Graph uses its own native digital asset - GRT, to support its indexing protocol.
GRT could play a major role in the future of Web 3.0, considering how much data blockchains will have to process. At the time of writing, GRT is available for purchase at just over $0.10 per token. This represents an unprecedented discount of over 90% compared to its 52-week high of $1.33.
11. Basic Attention Token - Consumers get paid for attention through relevant ads
Basic Attention Token is an innovative new crypto project that aims to reward users for their "attention". As it currently stands, consumers around the world are inundated with advertisements and marketing materials – many of which are of no interest to individuals.
Not only that, but even if the ad is relevant, the consumer will not receive any of the funds paid by the respective marketing agency. On the contrary, it applies to third-party platforms such as Google and Facebook.
Basic Attention Tokens aims to completely shake up the industry by having users view ads that are relevant to their wants and needs. This can be achieved by installing and using the Brave browser while browsing the web.
Basic Attention Token is also beneficial for advertisers. This is because the Brave browser ensures that marketing resources are used wisely and efficiently, as ads are only shown to the right audience.
Basic Attention Token, or BAT, is trading in the region of $0.30 at the time of writing. That's well below its 52-week high of $1.92.
12. 1inch – A decentralized exchange aggregator that strives to find the best possible cryptocurrency prices
Another option to consider in our list of the best cryptocurrencies under $1 is 1 inch. The 1inch platform is a decentralized exchange aggregator built on the Ethereum blockchain. The main concept of 1inch is that its algorithm has the capacity to scan multiple decentralized exchanges for the best possible price for a particular crypto-asset.
For example, suppose an ERC-20 crypto token is traded on both UniSwap and SushiSwap. At the time of order, the 1inch platform identifies that the token can be purchased on SuhsiSwap at a 5% discount compared to Uniswap.
This allows the trader to buy the desired token at the best possible price. The 1inch ecosystem has its own native token – also named 1INCH. The token runs on the Ethereum blockchain and carries a small market cap of under $400 million at the time of writing.
This offers investors an opportunity to gain exposure to a growing project at an attractive entry price. This is especially true considering that 1inch has already facilitated more than 23 million transactions in more than 3.5 million wallets.
13. Stellar – A low-cost blockchain network for cross-border transactions
The last project we will discuss on this list of the best cryptocurrencies under $1 is Stellar. It is an established project that has its own native blockchain network capable of facilitating cross-border transactions within seconds.
It costs a tiny fraction of a cent to send funds through the Stellar network, so its framework appeals to both consumers and businesses. Regarding the latter, Stellar has already created notable partnerships with IBM and MoneyGram
And first, Stellar could be considered an alternative to traditional money transfers when transferring funds to family members living in the developing world. After all, even in the era of digitization, transfer fees - especially in Africa - remain high.
The underlying crypto asset that supports the Stellar network is XLM. Otherwise referred to as Lumens, XLM carries a market capitalization of just under $3 billion at the time of writing. Compared to its 52-week high of over $0.44, XLM can be bought at a 75% discount based on current price trends.
Deciding if a cryptocurrency under $1 is a good investment
Now that we've covered 13 notable cryptocurrency projects that trade for less than $1 each, we can now discuss whether penny cryptocurrencies are a viable investment.
Circulating supply
First of all, it is important to understand that the price of a token often has no bearing on its valuation.
This is because, like traditional stocks, the value of cryptoassets should be judged by market capitalization.
This is the total number of tokens in circulation multiplied by the current market price.
Let's take Cardano as a prime example.
At the time of writing, Cardano is trading at just $0.45 per token.
However, it is one of the largest cryptocurrencies in the space with a market cap of over $15 billion at the time of writing.
This combination of low price and large market capitalization is due to the circulating supply, which in the case of Cardano is more than 34 billion tokens.
In comparison, Numeraire is a cryptocurrency with a token price of over $15. However, at the time of writing, it carries a market capitalization of just $90 million. This is because the project has less than 6 million tokens in circulation.
The key is that just because a crypto asset has a low token price does not mean it has a small valuation.
Greater token allocation
On the other hand, buying a cryptocurrency under $1 offers the advantage of having a much larger number of tokens.
In comparison, investing in Bitcoin or Ethereum requires a large capital outlay just to purchase one token. For example, when Bitcoin previously hit an all-time high, it was trading at over $68,000. This is a significant amount of money to buy just one digital token.
In contrast, during the Battle Infinity presale, IBAT could be purchased for as little as $0.0015. This means that by allocating just $500 to the presale, investors would receive more than 333,333 IBAT tokens.
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