The prices of Cryptocurrencies such as Bitcoin are too high. Other Cheap cryptocurrencies are a sound investment for cryptocurrency investors. The most affordable cryptocurrency in the cryptocurrency market is ReddCoin which is being sold at $0.0011 while Bytecoin is the second cheapest with a price of $0.0013. Purchasing cheap cryptocurrencies may be a good investment option for cryptocurrency speculators who may want affordable currencies. Below are the five most affordable high-market capitalized cryptocurrencies in the cryptocurrency market.
1. Bytecoin - $0.001
Bytecoin is the cheapest cryptocurrency with a large market capitalization. With only $1,000, a cryptocurrency investor can purchase 1 million Bytecoins, which is a far much better investment option as compared to a Bitcoin investor who will only get 0.39 Bitcoins with an investment of $1,000.
2. Bitshare - $0.1
The second cheapest cryptocurrency with a high-market capitalization is Bitshare. With an investment of $1,000, an investor can own 7,692 units of this cryptocurrency.
3. NEM - $0.1
NEM is also a cheap crypto currency. With $1,000, one can possess 6,666 NEM coins.
4. Ripple - $0.17
With an investment of $1,000, a cryptocurrency investor can own 5,882 Ripple coins.
5. IOTA - $0.2
Last on the list of the five most affordable cryptocurrencies with high-market capitalization is IOTA.
A $1,000 investment can be exchanged for 4,347 IOTA coins.
The most expensive cryptocurrencies are Bitcoin whose price is about $2,523 and Byteball whose price is about $479.
Cryptocurrencies as an investment
Bitcoin was the first digital cryptocurrency to be created back in 2009. Its price in 2011 was less than $1. Its current price is about $2,523.
Investing in these currencies is a much easier option than buying stocks, government bonds, treasury bills, or investing in mutual funds. Most transactions when investing are done online while transaction costs are low. There are also few regulations governing investing in these currencies.
Risks of investing in these currencies
The greatest danger of investing in the cryptocurrency market is that the industry is not widely regulated. The lack of regulation and anonymity when transferring the currency from one user to another has enabled criminals to hack cryptocurrency exchange sites and user wallets to steal coins.
On the 5th of this month, South Korea's largest Bitcoin exchange site was hacked. Hackers stole cryptocurrency worth $870,000 from 30,000 customers. On June 14 this year, CNBC reported that two major Bitcoin exchange sites were hacked as a result of a surge in the price of Bitcoins. Another risk of investing in cryptocurrency is the lack of public confidence, which can lead to a price bubble.
