Top 6 Cryptocurrencies Under $100 for Current Investments

Cryptocurrencies have evolved from a niche investment to a mainstream financial asset, garnering attention from both speculative and seasoned investors. The ubiquity of cryptocurrencies in financial discussions, such as on Bloomberg TV, highlights their growing importance. While Bitcoin (BTC) often steals the spotlight, the cryptocurrency market boasts thousands of alternatives, including cryptocurrencies under $100 that are gaining traction among investors looking for affordable options. 

For those working with a limited budget, like $100, navigating this expansive market becomes more challenging. In this guide, we’ll examine essential considerations before diving into cryptocurrency investments and present a detailed analysis of six promising cryptocurrencies that offer an entry point under $100. Whether you’re a novice investor or looking to diversify within a tight budget, exploring cryptocurrencies under $100 can provide unique opportunities in this dynamic market.

Also Read: Will Crypto Recover? Here’s What You Should Know

Before You Invest

As the cryptocurrency market gains popularity, beginners must learn fundamental facts before venturing into this space. The crypto market operates in an unregulated and decentralised manner, presenting both alluring qualities and potential dangers. 

The absence of proper regulation has led to increased threats of scams and fraud. However, experts anticipate that 2024 will witness the implementation of new regulatory measures, enhancing the security landscape for crypto investors. It is crucial to stay informed about these regulatory developments to mitigate risks and make informed investment decisions, even for individuals exploring cryptocurrencies under $100.

High Volatility

One of the significant challenges in the cryptocurrency market is its extreme volatility, leading to substantial value fluctuations in major cryptocurrencies like BTC and Ethereum (ETH). The inability of investors to effectively control this volatility is a concern, contributing to significant value erosion in trusted investments. 

Understanding how to manage volatility and satisfy individual investment goals without exposing oneself to massive losses is a skill that investors need to develop.

Examine Market Dispositions

Even cryptocurrencies under $100 play a crucial role in shaping market sentiments. Vital aspects of market sentiment, such as the conduct of buying and selling, the growing mainstream adoption of specific cryptocurrencies, and their acceptance by external users, serve as indicators of market views about a digital asset. Beginner investors should pay attention to such factors as they demonstrate which cryptocurrencies have a higher potential for yielding profits.

Stay Current on Developments

Blockchain technology, the foundation of cryptocurrencies, is open-source and provides transparency to investors. Keeping track of the latest developer activity can offer insights into how a cryptocurrency might be useful in the future.

Despite the potential for significant gains, cryptocurrencies are inherently risky and can sometimes plummet to zero. The implosion of the Terra LUNA stablecoin token is a stark reminder for investors not to put all their investments into one token and only invest what they can afford to lose.

Read More: Is Cryptocurrency a Good Investment? Should I Invest in It?

Portfolio Diversification

Diversification is fundamental in cryptocurrency investments, even when considering cryptocurrencies under $100. Spreading investments across various digital assets, including potentially less volatile cryptos and some volatile yet high-reward assets like BTC, helps investors endure profits for an extended period.

Protect Private Key

Investors must prioritise remembering and protecting their private keys. Even when you forget the passwords to all your crypto wallets, protecting private keys is still critical. Handling crypto funds through a hardware wallet, which requires no internet connection, adds an extra layer of security and reduces vulnerability to attacks.

Analyse ICOs

Initial coin offerings (ICOs) were popular a few years back but became risky endeavours for naive investors. Conducting thorough research, including reviewing whitepapers on cryptocurrency websites, is crucial before considering participation in ICOs.

Learn Crypto Tax Regulations

Before purchasing cryptocurrencies under $100, investors should conduct thorough research on the regulations their governments are following to regulate digital assets. With increased regulations expected in 2023, aspiring crypto users must be cautious about crypto tax regulations.

Choose Reliable Crypto Platforms

Selecting reliable crypto exchanges and wallet services is paramount. The surge in cryptocurrency popularity has led to the emergence of numerous exchanges and services, making careful selection essential.

Read Next: 7 Most Profitable Crypto to Buy in 2023

Top 6 Cryptocurrencies to Invest In Now

1. XRP (XRP)

• Price as of Dec. 22: $0.625671

XRP, created by Ripple, is an open-source crypto designed to facilitate global transactions. Despite ongoing legal issues from the U.S. Securities and Exchange Commission (SEC), XRP remains a compelling option. As the 6th-largest token by market capitalisation, XRP excels in institutional transfers, particularly in cross-border payments through RippleNet. Its ability to allow users to transfer large sums of money into various currencies without incurring substantial fees from traditional banks adds to its value proposition.

Related: XRP Price History: A Cautionary Tale for the Future

2. Dogecoin (DOGE)

• Price as of Dec. 22: $0.093054

Originating as a satirical take on BYC, Dogecoin (DOGE) has outperformed its humorous origins to become a tangible asset. Despite being priced at less than $0.10 per coin, DOGE has experienced both peaks and valleys. The coin’s value has been influenced by social media trends and celebrity endorsements, notably from Elon Musk. Beyond its meme status, DOGE has found practical applications, including acceptance as payment by e-commerce stores and gaming sites.

3. Cardano (ADA)

• Price as of Dec. 22: $0.618384

Cardano (ADA), a third-generation crypto, aims to address BTC’s scaling issues and improve ETH’s smart contract deployment principles. Unlike some projects, ADA’s real-world utility is evident in its use in agricultural supply chains for tracking counterfeit goods. With a Proof-of-Stake (POS) consensus mechanism, ADA has garnered popularity among eco-conscious investors. The network has processed over 20 million transactions with zero downtime and recently launched ADACash, a rewards token that attracted 10,000 users in less than a month.

Also Read: Best Altcoins for Users Looking To Diversify Crypto Portfolios in 2024

4. Polygon (MATIC)

• Price as of Dec. 22: $0.844948

Polygon (MATIC), a decentralised application on the ETH network, expands ETH into a multi-chain system. Backed by industry giants like Binance and Coinbase, MATIC aims to provide efficient solutions for deploying decentralised applications. MATIC, its ERC-20 token, allows voting on governance proposals, making it an attractive long-term bet. Despite price fluctuations, many investors consider MATIC a worthy investment thanks to its $4.57 billion market capitalisation.

5. Solana (SOL)

• Price as of Dec. 22: $93.77

Solana (SOL), a high-performance blockchain known for exceptional speed and efficiency, has emerged as a strong contender in the Decentralised Finance (DeFi) and Decentralised Applications (dApps) space. Despite challenges in the 2022 crypto bear market, SOL maintained a significant presence, often ranking within the top 15 cryptocurrencies by market cap. 

SOL’s hybrid consensus mechanism, combining Proof-of-History (PoH) with PoS, enables it to process thousands of transactions per second with minimal fees, addressing scalability issues many blockchains face.

SOL’s ecosystem encompasses a wide range of applications, from DeFi to NFT marketplaces, making it a hub for innovation and growth. Its ability to process transactions rapidly and at a lower cost makes it an attractive platform for developers and users. With a growing ecosystem, strong community support, and continuous development, SOL is one of the most profitable cryptocurrencies in 2023, having gained more than 500% over the year.

Also Read: Solana (SOL) Becomes the Most Traded Altcoin in U.S. Exchanges This Year

6. NEAR Protocol (NEAR)

• Price as of Dec. 22: $3.48

NEAR Protocol (NEAR), a layer-one blockchain, distinguishes itself with faster transaction speeds, better output, and increased interoperability compared to competing blockchains. While relatively young, NEAR Protocol aspires to be a community-operated cloud computing platform, providing security and functionality for high-value assets. 

NEAR’s POS mechanism, named Doomslug, secures the platform without driving up costs, and Nightshade technology splits up the blockchain’s transaction history to speed up processing.

Despite its relative youth, NEAR’s collective aims to create a highly secure platform capable of managing high-value assets like money and identity while catering to the needs of everyday people. As a project with the potential to reduce barriers to Web3 adoption, NEAR holds promise in the rapidly evolving blockchain landscape.

Final Thoughts

Investing in cryptocurrencies under $100 is not only feasible but presents opportunities for diversification and potential profits. Understanding the market landscape, adhering to key considerations, and carefully selecting cryptocurrencies based on their utility and potential for growth are essential steps for investors seeking to navigate this dynamic and evolving space.

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