The world of cryptocurrency is one of enormousness and continuous evolution. While headlines are taken over by giants like Bitcoin and Ethereum, there is an entire section of the market dedicated to other unknown tokens, some of them even trading for less than $1. These sub-$1 cryptocurrencies, often referred to as “low-cap” coins, could become such a breeding ground, both for high risk and high reward.
This article curates top 5 cryptocurrencies to buy under $1, along with the inherent risks and possible benefits:
1. TRON (TRX)
Current Price: $0.1342
30-Day Surge: 14%
TRON is a blockchain-based entertainment industry decentralization platform. Its vision is to accomplish a global content amusement system where consumers have the ability and freedom to create, store, disseminate, and receive digital content without any kind of borders. Its native token is TRX, by which users are supplied with a means to pay for creation, storage, and access to content.
Potential Benefits:
Large and Active Community: TRON has a large and active community of developers and users, which may be viewed as a positive sign for its long-term viability. Commitment to
Decentralization: The decentralization of the entertainment industry alignment is one of the growing trends in the crypto space.
Recent Price Momentum: The price of TRX surged 14% over the last 30 days, a possible sentiment for short-term growth.
Potential Risks:
Competition: The stiff competitors in the entertainment and content-making industries have the edge over TRON, owing to its rather recent venturing into the market.
Technical Concerns: Some experts doubt the scalability and technical capabilities of the blockchain itself used by TRON.
Volatility: TRX is simply too wild, with price swings similar to other low-cap coins out there.
2. Kaspa (KAS)
Current Price: $0.1699
30-Day Surge: 7%
KAS is a privacy-centric blockchain platform intended to provide secure and anonymous transactions to end-users. In contrast to Bitcoin, which has all of the transactions public, Kaspa implements zk-SNARKS in such a way that users’ needs for transactions are met at all times while the integrity of the blockchain is not compromised.
Potential Benefits:
Growing Demand for Privacy: With increasing concerns about data privacy, Kaspa’s attention could make up for a secure way to transact.
Unique Technology: Kspa’s zk-SNARKs technology is certainly one of the new promising technologies in blockchain.
Conservative Price Surge: The modest price surge of 7 percent within the last 30 days indicates further growth.
Potential Risks:
Low Adoption: Privacy-centric cryptocurrencies are at the early stages of adoption and therefore stand relatively less established against mainstream coins in general.
Regulatory Uncertainty: The concept and meaning of a privacy-based cryptocurrency are things regulators worldwide are still coming to grips with and are sure to unleash unknown challenges.
Technical Complexity: The underlying technology of zk-SNARKs could be too complex to teach to new users.
3. SafePal (SFP)
Current Price: $0.7884
30-Day Gain: 2%
SafePal supplies hardware wallets for digital cryptocurrencies, providing a secure storage method. It developed its hardware wallet in-house, which is user-friendly and easy to apply while integrating into advanced security. SafePal also has its native token, SFP, which allows its customers to perform all types of platform functions.
Potential Benefits:
Proven Product: A hardware wallet from SafePal is an established product in the area of cryptocurrency security.
Developing Crypto Market: Demand for solutions, including SafePal, is set to grow with the growth of the cryptocurrency market.
Growing Demand for the SFP Token: Its increasing utility within the growing SafePal network will lead to a growth in the demand of the SFP token.
Potential Risks:
Competition: There are some established, existing hardware wallet providers that may pose a threat to SafePal.
For the growth in SafePal, it would be quite limited compared to high-growth altcoins, but it can yield a more stable yet possibly less explosive yield. Hardware Sales Dependent: SFP success partly depends upon SafePal hardware wallet sales.
4. Mog Coin (MOG)
Current Price: $0.000001688
30-Day Surge: 69%
Mog Coin is the very first culture coin to ever have a place in the crypto space, uplifted from a meme to an empowered digital icon of self-expression and driven by a community that is passionate about creation and positivity. Its 69% price surge in recent times may be more indicative of speculation than actual utility.
Potential Benefits:
Ultra-Low-Price Point: With a very low price point for Mog Coin, it would only take a small percentage increase to realize a big gain on paper. However, it is not a guaranteed return based on speculation and a gambler’s mentality.
Potential Risks:
Lack of transparency: Although this may be peripheral to the overall structure of Mog Coin, there is a general lack of information available about it. It is pretty risky to invest in this kind of opacity.
Pump-and-Dump Scheme Potential: If there is a sudden outperformance in price, this could be the signal of a potential pump-and-dump scheme where the price is inflated before taking a sharp decline.
High Volatility: At this very low price point, Mog Coin may experience very extreme shifts in price.
5. PayPal USD (PYUSD)
Current Price: $0.9995
30-Day Surge: 0.28%
The PayPal USD is a stablecoin pegged to the US dollar. In itself, that would mean the value would be around $1 regardless of how the broader markets of digital currencies behave.
Potential Benefits:
Low Volatility: PYUSD offers a stable price and adds some Mauritanian flair to the basket of an investor who tries to avoid excessive volatility in most crypto assets.
Easy to Understand: A dollar-pegged coin does not invoke any high-level technical aspects.
Probable Risks:
Limited Upside Potential: Since PYUSD is pegged to the dollar, the price growth that it would be having is intrinsically capped. You will not see any high gains in comparison to other cryptocurrencies.
Centralized Control: Unlike decentralized crypto, PYUSD is issued and controlled by PayPal, which adds some centralization to the mix.
Here’s why it’s important to invest in such cryptocurrencies.
High Growth Potential
These types of cryptocurrencies, that cost less than $1, normally have a better potential for growth compared to expensive and more established coins. Even a slight movement in terms of price may amount to a big percentage gain, thereby being able to offer quite sizeable returns on the investment made.
Diversification
One can diversify their investment portfolio by buying lower-priced cryptos. This means that by branching into several assets, an investor can hedge against risks since these cryptos’ performance may not correlate with the higher-priced ones or other traditional financial markets.
Accessibility
Well, penny cryptos are more accessible to people with meager resources. This means more people can be involved in the potential upside of the crypto market.
Innovation and Community Support
Most of these low-cost cryptocurrencies are representative of new blockchain projects that are innovative. Most of them usually have large community support, and the price is driven upward as the project is developing and getting further recognition.
Speculative in Nature
Cryptocurrencies below $1 are very speculative investments. The volatility goes into the end, but for risk-tolerant investors, hand-in-hand is the prospect of high-risk and high-reward investments.
Market Trends: The crypto market follows trends and gets swayed by investors’ sentiments. Cryptos with less than a dollar will easily rise very fast due to positive market sentiment.
Potential for Mainstream Adoption
If ever the low-cost cryptocurrency starts being accepted by mainstream professionals, its value would be at an extremely high price. In this case, the early investor would enjoy a really good return if they had opted for a crypto that had come into wide use.
Risks and Considerations
However, the investments that can bring such high returns have equally large risks. Many low-priced cryptocurrency tokens lack liquidity, smaller market capitalization, and could be more susceptible to market manipulation. Lack of regulation, and the possibility of project failure—are important factors, too.