Cryptocurrency has become a rage among speculative investors wishing to earn big from its profit potential. Bitcoin is the name that comes to our mind whenever we think of cryptocurrency. However, this is not the only option and you can take your pick from a variety of other Altcoins. If you are a novice investor who has entered the crypto arena with a stringent budget, then you have come to the right place as today we are going to start our discussion with a list of the lowest-priced crypto to help with your investment.
Crypto with Lowest Price to Start Investment
- XRP
XRP is an open-source cryptocurrency developed by Ripple for faster and more reliable transaction processing. The transaction cost is substantially lower than the standard global payment infrastructure. Users can transmit XRP directly without any central intermediary and this has transformed it into a convenient tool for bridging the gap between two different currencies. The price of XRP at the time of writing this article was $0.9638.
- Dogecoin
This crypto was introduced as a satirical take on Bitcoin and reached heights earlier this year following some positive tweets by Elon Musk. Dogecoin uses Scrypt technology and has a block time of 1 minute. There is no upper ceiling on its supply making it a lucrative pick for crypto miners. Initially, Dogecoin was introduced for rewarding the creation and sharing of premium grade content on Twitter and Reddit. The price of Dogecoin at the time of writing this article was $0.1735.
- USD Coin
The value of the USD Coin is pegged to the value of the US dollar making it a more stable alternative to peer cryptos. This stablecoin is issued by regulated financial institutions and has been designed to foster cashless transactions. USD coin stands out from its contemporaries’ courtesy of the stellar transparency it brings to the table. It assures users that they will be able to withdraw 1 USD coin and receive $1 in return without any hassles. The price of USD Coin at the time of writing this article was $0.9995.
- Tether
USDT or Tether is a stablecoin issued by Hong-Kong-based company Tether. It mirrors the price of the U.S. dollar and the peg is attained by holding a sum of fiduciary deposits, commercial paper, treasury bills, reserve repo notes, and cash equivalent to the value of USD to the number of USDT in circulation. The best thing about USDT is that it is protected from the sheer volatility which handicaps the crypto market. The price of Tether at the time of writing this article was $1.00.
- Lumen (XLM)
Lumen is the native cryptocurrency for the open-source blockchain payment system of Stellar. All the Lumen transactions go into a shared public ledger and can be accessed by the general public. Lumens can be bought from StellarX, the peer-to-peer trading network of Stellar, or popular crypto trading exchanges. Lumen is finding increasing acceptance at developing markets by serving as a low-cost bridge for fostering cross-border transactions. The price of Stellar Lumen at the time of writing this article was $.2767.
- IOTA
IOTA is an open-source distributed ledger and cryptocurrency specially devised for the Internet of Things. All the transactions are stored in its ledger through a directed acrylic graph called Tangle holding greater potential of being scalable compared to peer blockchain-based distributed ledgers. This crypto is expected to foster free micro-transactions between IoT devices and solve other scalability problems plaguing Bitcoin. The price of IOTA at the time of writing this article was $1.28.
- Shiba Inu
Shiba Inu has gained accolade by the name of Dogecoin killer and is being accredited by all as the rising star of the crypto sphere. This crypto was created in August 2020 anonymously under the pseudonym ‘Ryoshi.’ The meme coin gained quick traction following positive tweets in its favor by personalities like Vitalik Buterin and Elon Musk. Shiba Inu has launched the DEX platform for offering greater liquidity to investors. The price of Shiba Inu at the time of writing this article was $0.00003506.
- Cardano ADA
Cardano ADA is a popular cryptocurrency that has been developed on the pillars of interoperability, scalability, and sustainability. Following a recent update, Cardano’s network is allowing the building of smart contracts. Its native crypto is known as ADA and can be transacted through popular crypto exchanges. The USP of this coin lies in the low transaction fees and a stellar development team working at the backend to completely decentralize the project. The price of Cardano ADA at the time of writing this article was $1.34.
Top 5 Crypto Wallets with Features & Fees
If you are planning on buying, selling, or trading in cryptocurrencies, then you will require a crypto wallet that can validate transaction information to keep traders secure. Today we are going to take a look at 5 of the best crypto wallets offering the ultimate blend of security and convenience:
Coinbase ($0.99 to $2.99 and 0.50% spread per trade)
Coinbase is the best wallet for novice users’ courtesy of its intuitive interface which can be navigated easily. You can connect with major bank accounts after downloading the app and benefit from the wallet’s ability to support more than 500 crypto assets.
Features:
- The Coinbase wallet is non-custodial allowing the storage of private keys in your device and not in the server.
- Offers the feature of biometric authentication such as TouchID, FaceID, etc. on iOS, Android, Mac, and iPad devices by using the Secure Enclave chip.
- Since both the crypto wallet and exchange are operated by Coinbase, this integration offers easy access to everything under one roof.
Electrum (0.2 mBTC)
Investors who are interested in only storing Bitcoin can opt for the Electrum hot wallet which has been offering a highly unique experience to users since 2011. The USP of Electrum lies in its minimalist user interface and open-source nature allowing users to enjoy completely customized transaction fees.
Features:
- Users can determine the transaction fees depending on how long they are ready to wait for the completion of the transaction.
- The wallet uses simple payment verification to download only parts of the blockchain for speeding up transactions.
- Offers multi-signature support and two-factor authentication.
Mycelium (USD 0.25 to USD 8 depending on the nature, size, and transaction type)
Mycelium is the best option for both iOS and Android users when it comes to mobile crypto storage. It focuses strongly on advanced transaction history information and security. The app comes with several layers of protection and a reproducible code that can be compared to the original for finding security concerns.
Features:
- Offers four levels of custom transaction fees, namely priority, economic, normal, and low priority.
- Presents a watch-only mode wherein users can keep a tab over their trades and stocks while disabling outgoing transactions.
- Compatible with popular cold storage solutions like Trezor, Ledger, and KeepKey.
Ledger Nano X (Fees vary according to transaction size and network)
Keep hacking worries at bay with Ledger Nano X which stores your private keys offline. Despite being pricier than the other wallets mentioned in this list, Ledger Nano X has gained the support of countless crypto investors with its high-end security features. You can connect the wallet to your device via Bluetooth or USB connection for buying and managing your crypto on the go.
Features:
- A specialized Secure Element chip keeps the wallet buffered from different forms of attack.
- Investors can generate revenue by staking and lending crypto using the Ledger Live app.
- Offers support to more than 1800 coins and tokens.
Exodus (Variable network fees and spread)
This desktop and mobile wallet is considered by crypto aficionados as one of the most trustworthy platforms having a built-in exchange and simple user interface. You can swap between more than 145 cryptos under one roof making it the perfect choice for novice users. Exodus offers separate applications for both Android and iOS users.
Features:
- Fees on Bitcoin transactions can be customized starting from September 2021.
- Runs on a light client and speeds up the transaction by not downloading blockchains completely.
- Offers different apps for crypto staking, live charts, and crypto deposits.
Transaction Charges for Crypto
Transaction fees are the processing charge taken from users as an incentive for people to keep the network alive and operate the computers.
- A bitcoin transaction fee has ranged between $1.78 to $62 this year.
- Average transaction fees of Dogecoin have ranged between 2 cents to $2.5.
- Ethereum average fees have ranged between $1.59 to $70 this year.
- Litecoin’s transaction fee is $0.042.
- A fee of $0.0025 is levied on each Bitcoin Cash transaction.
- Reddcoin’s transaction fee is $0.00089.
- The exchange fee of Dash is equivalent to $0.0051.
