Despite their high volatility compared to traditional financial instruments, Bitcoin and other top cryptocurrencies are no longer as profitable investments as they used to be. Therefore, investors prepared to take on risk are looking for cheaper cryptocurrencies, which can potentially bring truly impressive profits in the future. In this article, we'll talk about some promising cheap cryptocurrencies and try to answer the question: "What is the best cheap cryptocurrency to buy for an aggressive investor?" We'll consider the best crypto to buy in 2024 and create a well-balanced crypto portfolio. 

What is the best cheap cryptocurrency?

There's a misconception among many novice crypto investors that a cheap cryptocurrency is one with a low price per coin. But in the crypto market, assets are divisible, so the price of one coin of a certain cryptocurrency doesn't matter when it comes to determining whether or not it's cheap. What matters is the cryptocurrency's market capitalisation. The cryptocurrency with the best future meets the following criteria: the lower a cryptocurrency's market cap is, the more room it has for growth. This also works inversely: the higher the market cap is, the more difficult it is for a coin's price to increase further.

As such, Cardano, which was priced at $0.4636 at the time of writing on 27 May 2024 and ranked 10th among cryptocurrencies by market cap, is an expensive cryptocurrency. On the other hand, Compound, which costs $63.37 and is ranked 132nd in terms of market cap, is relatively cheap.

Advantages and disadvantages of investing in cheap cryptos

Cheap cryptocurrencies have several advantages that attract investors:

• High potential profit. Due to their undervaluation, the best and cheapest crypto to buy today can bring thousands of per cent profit to their investors.
• Investment portfolio diversification. Investment diversification is an important tool for any investor. It's even more important in the risky and uncertain crypto market.

At the same time, we shouldn't forget about the disadvantages of investing in small-cap coins:

• Low liquidity. Small market capitalisation means that there may not be enough buyers in the market, and large sell-offs lead to severe price drops.
• Vulnerability to price manipulation. A low market cap makes it easier to manipulate an asset's price.
• Fraud risk. After receiving investors' money, the developers of many cryptocurrencies abandon their projects.

Best cheap cryptocurrency to buy right now

So, what is the best cheap cryptocurrency to buy now? Short answer: no one knows for sure. More detailed one: there are many good coins to invest in, and it's impossible to predict which cryptocurrency has the best future and will outperform its competitors and turn out to be the most profitable for its investors. We have listed several of the cheapest cryptos to buy with room for growth and some liquidity cushion.

Stacks (STX)

Stacks comes first on our list of the best crypto to buy in 2024. It is a layer-1 blockchain solution designed to implement smart contracts, decentralised applications (DApps), NFTs and DeFi in the Bitcoin ecosystem. Stacks aims to extend the functionality of the first and largest cryptocurrency without the need for a hard fork or change to the original blockchain.

STX price statistics (as of 27/05/24)

Ravencoin (RVN)

Designed to simplify the creation and transfer of assets, Ravencoin is true to the ideals of decentralisation that were originally put in Bitcoin. This is one of the best and cheapest crypto to buy in 2024. The asset tokenisation market's potential is huge, and a platform that allows almost anything of value to be tokenised has a good chance of showing significant growth as this potential is unlocked.

RVN price statistics (as of 27/05/24)

VeChain (VET)

VeChain was originally created as a blockchain platform for supply chain management. This is one of the best cheap crypto to buy today. However, since then, the developers' ambitions have only grown, and now the platform is positioning itself as a 'blockchain for businesses'. VeChain is currently the leader in its niche, and the number of its partners continues to grow.

VET price statistics (as of 27/05/24)

Theta Fuel (TFUEL)

Let's proceed to the next example of the cheapest cryptos to buy today. Theta is a decentralised video streaming network designed to solve the industry's inherent problems and make it more efficient and fair for all participants. The video streaming market is large, and Theta has a good chance of edging out its centralised competitors.

TFUEL price statistics (as of 27/05/24)

Chiliz (CHZ)

Chiliz is a blockchain project in the huge niche of sports and esports, created to strengthen and monetise the connection between sports fans and their favourite teams and clubs. For teams, this is one of the best crypto to buy for the long-term, opening up the possibility of obtaining new sources of income; for fans, it offers the opportunity to directly participate in teams' activities.

CHZ price statistics (as of 27/05/24)

Audius (AUDIO)

Audius is a decentralised audio streaming protocol designed to remove intermediaries between musicians and their audience. Authors have sole ownership of their music and can monetise it or distribute their music for free on the platform. If the platform continues to develop, it has the potential to become a competitor to Spotify.

AUDIO price statistics (as of 27/05/24)

Lucky Block v2 (LBLOCK)

This is the newest (and probably riskiest) project on this list. Lucky Block is a crypto lottery platform on the Binance Smart Chain blockchain. Through the use of blockchain technology, Lucky Block intends to make lotteries much more transparent and fair than before. At the moment, the token is only listed on Pancake Swap. Lucky Block is one of the best crypto to buy now. The project is at the beginning of its lifecycle and is a perfect example of a 'penny crypto'.

LBLOCK price statistics (as of 27/05/24)

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Best Web 3.0 Crypto Projects to Invest in 2024

Besides considering adding the best and cheapest crypto to buy to your portfolio, we recommend you take a closer look at the next generation of Web3 cryptos. Web3 tokens offer unique use cases by exploiting decentralised protocols. Let's review several examples of the best Web 3.0 crypto projects with growing potential in 2024.

Filecoin (FIL)

Filecoin (FIL) is one of the best Web 3.0 crypto projects. It is a blockchain project that offers a decentralised storage network, integrating seamlessly with Web3 and DeFi protocols for permanent data storage. Built on IPFS, a peer-to-peer file storage network, it allows users to run nodes and store files anonymously. By providing extra storage, users can earn tokens and get transaction fee discounts. Filecoin addresses the lack of incentives for individual IPFS nodes to share space, leveraging blockchain transparency and open markets to offer a decentralised alternative to traditional storage solutions.

FIL price statistics (as of 27/05/24)

IOTA (IOTA)

IOTA (IOTA) is a unique cryptocurrency using Tangle technology instead of traditional blockchain. Developed in 2015, IOTA is designed for the Internet of Things (IoT), enabling secure, feeless microtransactions. Unlike conventional blockchains, IOTA's Tangle is a directed acyclic graph where each transaction confirms two others, eliminating the need for miners and keeping transactions free. This architecture makes IOTA scalable and ideal for machine-to-machine interactions in IoT. With IoT poised for significant growth, IOTA offers substantial potential for investors who can consider it as a cryptocurrency with the best future.

IOTA price statistics (as of 27/05/24)

Ethereum Name Service (ENS)

The Ethereum Name Service (ENS) allows users to create a single pseudonym for all public addresses and decentralised websites, simplifying the crypto and DeFi space. Instead of using long, unreadable crypto addresses, users get an ENS domain (e.g., "Madison.eth") to receive any type of crypto and NFTs. ENS functions as the Web3 counterpart to the traditional Domain Name Service (DNS), offering a decentralised solution that mitigates the vulnerabilities of DNS's single point of failure. For those optimistic about crypto's future, ENS represents a promising cryptocurrency with the best future.

ENS price statistics (as of 27/05/24)

Conclusion

The crypto market is volatile and difficult to predict, so there is no guarantee that these or any other cryptocurrencies will bring profit to their investors. In addition, there are much more interesting and promising cryptocurrencies than those listed here. As such, do your research and analysis, and you're quite likely to find some little-known cryptocurrency that could potentially bring you a very good income. Consider our list of the best and cheapest crypto to buy in 2024 as a recommendation, but weigh all the pros and cons before the final decision-making.

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