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7 Cryptocurrencies Under $2 That Could Be The Next Bitcoin

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Bitcoin (CCC:BTC-USD) to the top so far, so fast that anyone starting to invest in cryptocurrency is somewhat forced to look for alternative plays. As of Friday, May 7, BTC-USD was trading at $57,732, up 99.3% from $28,972 on December 31, 2020. Many investors are considering other cryptocurrencies that might offer a better rally and cheaper absolute prices.

This article discusses 7 of the top 20 cryptocurrencies to consider investing outside of Bitcoin and Ethereum (CCC:ETH-USD), the second largest cryptocurrency. ETH-USD was at $3,535 as of Friday, May 7, and it is up 384% from $730.37 as of December 31, 2021.

We will be looking for alternative coins that have lower absolute prices than these two cryptocurrencies. These alternative choices may provide the same meteoric upside that Bitcoin and Ethereum have had over their lifetimes.

Each of these cryptocurrencies trade for less than $2. This means that for $2000, you can buy up to 1000 coins or tokens. So if they trade above $100, like Litecoin (CCC:LTC – US Dollar), currently at $351, or philicoin (CCC:FIL-USD), at $150.67, investors can make a lot of money.

7 Cryptocurrencies Under $2 Could Be Next Bitcoin

Let’s dive in and take a look at these cryptocurrencies.

7 Cryptocurrencies Under $2: Dogecoin (DOGE-USD)

Source: Margaret Jung / Shutterstock.com

Price: 0.4574 dollars

Market value: $59.3 billion

Dogecoin was originally created as a joke to mimic the rise of Bitcoin, but it has since taken on a life of its own. She wrote about her phenomenal rise recently in InvestorAnd about those who say that the joke is over.

Furthermore, Dogecoin has a slightly inflated token supply structure. This is because the token is only issued 5 billion new Dogecoin each year. With the current total of 128 billion Dogecoin, this means that the average annual increase is 3.90%. But every year this percentage decreases as the base denominator rises.

This distinctive offer structure could make Dogecoin a useful cryptocurrency for payments in the real economy, as I wrote in my February 8 article. The reason is that economies need a small amount of inflation, which helps in accounting for both the velocity of spending as well as the rise in prices.

It also discourages people from hoarding the coin, despite its high value. With most large economies growing at a rate of 3% or better in the long run, a growth greater than 3% in the cryptocurrency supply helps absorb this growth.

So, look for Dogecoin to take on more than just a tracking cult over the next year or so. I suspect it has a good chance of exceeding $100 billion in market cap, making it the third largest cryptocurrency after Ethereum.

For example, if it were to hit $1 per Dogecoin, it would have been around 120% higher than current prices, giving it a market cap of just under $130 billion. This is still a far cry from Ethereum’s market valuation of $409 billion. So there seems to be an upward limit to how much this currency can go up.

Both Robinhood And urinate View the ability to buy Dogecoin. I suspect this also played a big role in the rise of Dogecoin. However, you still can’t do that Queen Piece (NASDAQ:Currency).

Ripple (XRP-USD)

Concept symbol for XRP (XRP) with heaps of tokens in the background.

Source: shutterstock

Price: $1.43

Market value: $50.3 billion

Created in 2012, Ripple has been tainted by lawsuits by the Securities and Exchange Commission and private investors. In January, Coinbase delisted Ripple from the exchange. However, some other exchanges still allow trading in Ripple.

If you’re willing to overlook the SEC’s problems (many and described in my last article), Ripple may eventually succeed. Ripple wants to be a real-time payment settlement system with no chargebacks. The problem is that there are a number of other cryptocurrencies in this space as well.

You could tell I’m a bit lukewarm about Ripple’s prospects. With that, the coin was on the rise, despite its troubles. For example, XRP-USD closed in 2020 at $0.2324. As of May 10, it was at $1.43. That means it’s up 515% so far this year.

I suspect there is a good chance that, given the speculative fever, the Ripple token could cross $100 billion. This gives it another potential gain of 98.8%.

Cardano (ADA-US dollar)

A concept symbol for Cardano (ADA) with a background trading chart.

Source: shutterstock

Price: $1.68

Market value: $53.6 billion

Cardano is a platform with a different blockchain verification system than Bitcoin or Ethereum. These block chains use mining and a proof-of-work reward system for miners. The Cardano system, called Ouroboros, is based on proof-of-stake.

Anyone can bet their Cardano to validate the blockchain and get rewarded for it. This consumes much less electricity than cryptocurrency mining. Even Ethereum will migrate to this system over the next year. Cardano already exists and is currently the largest blockchain and proof-of-stake cryptocurrency in operation.

ADA coins can also be used for peer-to-peer settlement of payment transactions. The platform also enables smart contracts and applications that can run on its platform. However, the company that founded Cardano, IOHK, sets the rules for the platform and has funded its growth. So far, there have not been many large companies using its platform.

Don’t expect Cardano to rise significantly from here, given its already huge market value. However, as the adoption increases over time, the value of the token can rise.

VeChain (VET-USD)

Concept Token for VeChain (VET).

Source: shutterstock

Price: $0.21

Market value: $13.3 billion

I have written about VeChain, a blockchain platform focused on supply chain and logistics. In fact, a number of large organizations are now using VeChain to keep track of their inventory.

One of these companies is based in Norway, DNV, tracks merchandise ships and merchandise. according to Alpha searchIt was an early adopter of blockchain technology to keep track of this stock.

VeChain is also unique in that it pays dividends of types called Vythor (CCC:VTHO-USD) for VET token holders. In my previous article, I estimated the dividend rate to be just over 1.3%.

This makes VET-USD a truly unique cryptocurrency and blockchain. The cryptocurrency VeThor is traded separately and deserves attention as well.

Premium Lumens (XLM-USD)

A concept icon of Stellar (XLM) on a blue gradient background.

Source: shutterstock

Price: 0.67 dollars

Market value: $15.46 billion

Stellar Lumens is a blockchain protocol for payment systems. Want to make it easier to transfer money around the world? In 2017, Stellar Lumens began working with the Government of Ukraine. They are in discussions to develop a national digital currency. This will be a special event for Stellar Lumens if it takes off.

At its core, Stellar is an open source protocol for exchanging money or tokens, according to Wikipedia. Founded by Jed McCaleb, who founded Mt. Gox and was one of the founders of Ripple.

Ripple’s success will depend on the extent to which its payment system is adopted worldwide. So far, it has had limited success. It may take longer than most people would like to wait for the Stellar Lumens platform to be adopted by national governments and institutions.

Tron (TRX-USD)

A futuristic image of a hand with the words block chain floating on top of it.  Representing the blockchain riot stock

Source: shutterstock

Price: $0.128

Market value: $9.1 billion

Tron is a blockchain-based operating system with an independent peer-to-peer network. The Tron Foundation originally raised $70 million in an initial coin offering in China. Since then, the TRX-USD cryptocurrency, called Tronix, has risen to nearly $10 billion in market capitalization.

Wikipedia Reports indicate that Tron encryption has had a controversial background, including plagiarism and some other charges. The Tron Foundation has resisted these accusations and modified its modus operandi by acquiring BitTorrent, the largest peer-to-peer file-sharing network.

He founded Justin Sun Tron and is now the CEO of BitTorrent. according to Quindisk, sees Tron as a viable competitor to Ethereum. This may be one of the main reasons why Tron has performed so well this year.

The 2020 Tron finished at 2.69 cents. At 12.8 cents today, it is up 376% year-to-date. Look for TRX-USD to continue doing well with its acceptance.

Bit torrent (BTT-USD)

Concept image of a BitTorrent (BTT) token.

Source: shutterstock

Price: $0.00637

Market value: $4.2 billion

BitTorrent is a peer-to-peer file sharing platform founded by Bram Cohen and later sold to Tron (see above). The platform seeks to enhance users’ ability to distribute large electronic data and files using a decentralized protocol.

Initially, the protocol was used to allow the illegal downloading of pirated movies and other media on a decentralized basis. Later, after receiving private equity funding, BitTorrent struck deals with the seven largest movie studios to rid itself of illegal copyright issues.

BitTorrent recently received licenses from a number of these movie studios to distribute their content. This makes its digital currency very valuable.

Although this coin is not among the top 20, I wanted to include it because I think it has a lot of potential to go up over the next year. This is because its platform solves real-world issues related to sharing large files.

Since the sale of BitTorrent to Tron, founder Bram Cohen has continued to create a new cryptocurrency swears (CCC:XCH – US Dollar). His goal is to make it easier for people to use the unused space on their computers to mine cryptocurrency and earn money.

BitTorrent has recently been added to a new exchange, Poliniex, which allows it to be installed by validators. This exchange is also owned by investors including Justin Sun, who bought BitTorrent in 2018. Some speculate that this may explain the recent rally. Look for BitTorrent to continue doing well as its adoption rate grows.

Cryptocurrencies under $2 could be the next Bitcoin

These seven cryptocurrencies (eight already when you include VTHO-USD) all have prices under $20 but are among the top 20 cryptocurrencies by market cap. This means a great level of acceptance; This is not a nascent cryptocurrency just getting started.

The theory here is that one can buy a large number of shares, given the low prices, and given that the extremes of the market have not yet matured. A mix of investments in all or some of these cryptocurrencies will surely do well over time.

As of publication, Mark R. Hake holds a long position in Bitcoin, Ethereum, BitTorrent, and Dogecoin. He did not have a long or short position in any of the other securities mentioned in this article.

Mark Hayek writes about personal finance on mrhake.medium.com and runs Total Return Value Guide that you can review here.

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