Best Cryptocurrency Under $1? Here’s 10

Looking for the best cryptocurrency under $1?

With 2,500+ cryptocurrencies to invest in, you have a lot of choice.

And there’s plenty of tokens valued under a dollar.

But which have genuine investment potential?

In this coin review, we’ll look at 10 of the best cryptocurrencies worth less than $1 in 2018.

Best Cryptocurrency Under $1 To Invest In 2018

1. Polymath (POLY)

polymath logo

Polymath is a cryptocurrency that allows securities to be safely migrated to the blockchain.

What Are Securities?

Securities are basically any tradable financial asset.

This includes proof of debts and as well as ownership.

As you can imagine, the size of this industry is huge. 

With Polymath, they’re aiming to tokenise securities.

So why would someone move securities to the blockchain?

  • It becomes easier to manage securities
  • Securities and equity can be programmed​
  • This means a company’s data can be stored more securely and organised more effectively online
  • Security markets could attract more investors who already invest in cryptocurrency
  • Existing security markets usually operate within normal working hours.
  • By switching to Polymath, security investment markets would operate 24/7

Price Chart

polymath price history

Current price: $0.30

Why Should You Invest?

  • checkTokenising securities offers many benefits (listed above)
  • checkThe securities market is a huge industry to tap into
  • checkThey’re an ambitious project – aiming to become the Ethereum of securities

Why Shouldn’t You Invest?

  • There are harsh critics of the Polymath CEO, Trevor Koverko
  • The security industry has some tight legislative regulations
  • Ensuring Polymath tokens are compliant with these laws could be a long, arduous process

2. NXT (NXT)

nxt logo

NXT allows it’s users to create their own digital asset exchanges on the blockchain.

So basically you can launch your own decentralized marketplace via the NXT blockchain.

So why is that useful?

  • Developers can quickly program a marketplace on the NXT blockchain
  • This means assets could be traded peer-to-peer on their platform
  • Store data easily and securely in the cloud
  • Create polls and democratic voting systems
  • Develop secure multi-sig solutions to keep your users accounts secure
  • It’s decentralized – so you create democratic trading exchanges with no central authority
  • Create a crowdfunded sale on the platform – useful for launching ICOs and attracting investors to your app

Price Chart

nxt price history

Current price: $0.094

Why Should You Invest?

  • checkNXT creates an easy way to launch decentralized exchanges
  • checkThere’s a huge market for creating decentralized applications where assets can be traded
  • checkAs one of the top 20 altcoins on the cryptocurrency market, they have a lot of funding and a large community

Why Shouldn’t You Invest?

  • It’s price has been unstable over the last few months (check out the NXT price chart above)
  • In terms of ownership, their ICO tokens were unevenly distributed
  • This creates the debated ‘whale’ problem – if someone holds enough tokens of NXT, they can manipulate it’s price

3. BitShares (BTS)

bitshares logo

BitShares is a decentralized exchange platform.

Basically, businesses can create shares of their company via the BTS blockchain.

Then these tokenised shares can deliver dividends to every token holder, if the company makes a profit.

They’re aiming to create a scalable form of cryptocurrency asset exchanges – fixing the issues surrounding Bitcoin.

You see, Bitcoin struggles with slow transaction speeds and expensive transfer fees.

Bitshares is offering a cheaper, faster alternative. 

It also acts a little bit like Tether.

Tether = a solution to the instability of the crypto market. It’s a cryptocurrency pegged to the US Dollar.

So for example, if you hold Bitshares BitUSD, your money is pegged.

Unlike Tether however, your tokens are decentralized.

So that means you own your tokens, so if the blockchain is hacked – like Tether’s has been already – you won’t lose your investment.

Price Chart

Bitshares price history

Current Price: $0.129

Why Should You Invest?

  • checkIt’s a decentralized alternative to Tether
  • checkIt allows delegated Proof Of Stake. This means if you own Bitshares, you can let someone else vote for you and make democratic decisions in terms of the future of the coin
  • checkIt’s a scalable solution, allowing mass transactions on their platform

Why Shouldn’t You Invest?

  • They have struggled with technical problems on their desktop/mobile clients
  • Some critics have stated that the price of Bitshares is being manipulated
  • Last time I checked, Poloniex cryptocurrency exchange had disabled Bitshares wallets – so users could’t trade BTS on their platform

4. Dent (DENT)

dent cryptocurrency logo

Dent cryptocurrency is a decentralized exchange where users can buy and sell mobile data.

What’s the use case?

  • With their online marketplace, mobile data could be become easier to access
  • Millions of people need mobile data for their phones
  • It’s a convenient way to buy mobile data without committing to a long-term contract
  • If you aren’t going to use the rest of your mobile data allowance for the month, you can sell the excess amount via Dent’s app

They already have a live app, that’s topped download charts globally.

Mainly, they’re targeting developing countries with rapid growth markets for mobile data.

Price Chart

dent price history

Current price: $0.003

Why Should You Invest?

  • checkMillions of customers need mobile data
  • checkIt’s a business model that could challenge and disrupt the mobile data industry
  • checkTheir mobile app is already live and has a lot of positive reviews

Why Shouldn’t You Invest?

  • Existing mobile networks might develop a better alternative – that makes Dent’s app redundant
  • Their team doesn’t have a lot of experience in the blockchain space
  • There have been some technical errors reported with the app – including users not receiving referral rewards

5. Substratum (SUB)

substratum logo

Substratum has the same function as a VPN and privacy network TOR.

With so many privacy scandals reported in 2018, privacy and online anonymity is becoming a much bigger issue.

And that means more customers are looking for a solution.

The other thing is that SUB coin allows you to bypass internet censorship problems – so you can access websites that were previously blocked.

For example, in China, YouTube and Google are banned.

With Substratum, you could access these restricted websites.

So what’s the use case of Substratum’s network?

  • Bypass censorship problems
  • Access websites that were previously restricted
  • Allows information to be shared freely online
  • Removes a lot of privacy issues on the web – like cookies and third party ads
  • Rewards computers who validate the network with SUB tokens

Price Chart

Substratum price history

Current price: $0.199

Why Should You Invest?

  • checkBypassing internet censorship is a huge market – look at the success of VPNs as an example
  • checkUsers want to remain private and anonymous online (check out my guide to privacy coins)
  • checkThe more users adopt Substratum, the more effective it’s going to become

Why Shouldn’t You Invest?

  • It’s going to be challenging to persuade users to move from using TOR and existing VPNs to Substratum
  • Unless Substratum achieves global adoption, the network will struggle with latency issues
  • From what I’ve seen, their marketing team doesn’t do a great job – their website/promo videos looks a little amateur

6. Decentraland (MANA)

decentraland logo

Decentraland is a virtual reality network.

So on the platform, you can buy and sell land.

It’s similar to virtual reality games like Second Life.

Their platform holds a lot of potential:

Just look at the success of open world games like Grand Theft Auto or Minecraft, which generate millions of dollars.

So what’s the use case of Decentraland?

  • It’s basically a virtual reality game
  • Create your own business on the platform
  • Earn tokens in Decentraland – which you can then cash out into fiat
  • Build, develop and flip your own real estate
  • Gain more freedom than most games – because it’s an open source project where you can develop custom assets
  • Inspired by Ready Player One

Price Chart

Decentraland price history

Current price: $0.08

Why Should You Invest?

  • checkTheir decentralized real estate market is already live
  • checkSome real estate auctions on the platform have already sold for $100,000+
  • checkVirtual Reality gaming is an industry that’s only going to grow over the next few years

Why Shouldn’t You Invest?

  • The technology isn’t ready for Virtual Reality just yet
  • The platform relies on user adoption – if no-one adopts Decentraland, it’s real estate model will be useless
  • Right now, it’s not much different from existing platforms like Second Life. But if they execute their roadmap successfully, then this will obviousy change.

7. OriginTrail (TRAC)

origintrail logo

OriginTrail allows products to be tracked throughout the supply chain.

So let’s say you’ve ordered a package.

That package can be tracked with more trust and integrity because their blockchain is decentralized.

That means supply chain data can’t be manipulated or changed retrospectively.

Price Chart

OriginTrail price history

Current Price: $0.10

Why Should You Invest?

  • checkAs supply chain regulations become increasingly stricter, product quality and safety solutions will rise in demand
  • checkThe supply chain industry is worth $13 billion in revenue per year
  • checkThe decentralization and immutability of blockchain tokens allows supply chains to be perfectly synced up

Why Shouldn’t You Invest?

  • Their development team is relatively unknown and there’s not a lot of information about their background
  • Supply chain companies can often be ‘stuck in their ways’ – implementing OriginTrail’s technology could be a challenge
  • They face stiff competition with VeChain – another highly regarded supply chain cryptocurrency that has a lot of funding already

8. Spectrecoin (XSPEC)

spectrecoin logo

XSpec is a privacy coin.

So they allow private, anonymous transactions via their network.

The problem is, most payment services aren’t anonymous.

Services like these – such as PayPal or Stripe – are highly monitored and centralised.

Therefore, you can’t transfer money internationally without remaining anonymous.

Even with cryptocurrencies like Bitcoin, you can easily track someone’s previous transactions if you get hold of their public key. 

One of the biggest USPs of XSPEC is their Proof of Stake algorithm.

This means:

  • Faster transaction times on the network
  • Transactions can be processed within 30-60 seconds
  • Their community could grow faster because users are rewarded for holding tokens
  • It’s more practical and scalable for mass volumes of transactions

Price Chart

Spectrecoin price history

Current price: 0.19

Why Should You Invest?

  • checkIt’s highly scalable because of their proof of stake mining algorithm
  • checkPrivacy coins are increasing in popularity due to data, anonymity and net neutrality concerns
  • checkIt’s compatible with the privacy software TOR – a network that already has millions of users

Why Shouldn’t You Invest?

  • There’s lot of privacy coins already – and coins like Monero have a bigger community
  • There’s no white paper for the coin – that’s a red flag for most cryptocurrency investors
  • Their website and overall marketing presence is really poor. If they want to attract more users, they’ll have to step up their marketing budget

9. WaBi (WABI)

wabi logo

WaBi is another supply chain project.

Their mission is to stop counterfeit products. 

Their system creates a unique identifier on the blockchain that can be scanned to guarantee a product’s integrity.

Here’s how it works:

  • Codes are placed on a product’s packaging
  • These codes are then scanned
  • The authenticity of the product is checked via WaBi’s app

But this also solves a much more serious problem.

Counterfeit medicines cause hundreds of thousands of deaths every year.

But right now, there’s no real way to check if a medicine is counterfeit or not.

Even QR codes can be faked.

Therefore, WaBi’s blockchain project is a credible way to authenticate a product’s integrity.

Price Chart

WaBi price history

Current price: $0.37

Why Should You Invest?

  • checkThey have a strong marketing team – their websites, videos etc are much more professional than other coins listed in this article
  • checkCounterfeit products are rife and this industry costs supply chain companies a lot of missed revenue
  • checkWaBi tokens have a clear use case – these tokens are given away as a reward to consumers for scanning the product

Why Shouldn’t You Invest?

  • The supply chain industry is highly competitive
  • I’m not sure how useful WaBi coins will be for it’s audience. The loyalty scheme needs to offer a very strong incentive
  • Also, they need to ensure the scheme is 100% bulletproof. If one scandal is released about WaBi, they’ll struggle to regain consumer confidence

10. Ravencoin

ravencoin logo

Funnily enough, RavenCoin’s white paper compares their tokens to the ravens of Westeros (Game Of Thrones).

Basically, their coin is designed to prove authenticity of ownership. 

It’s kind of like a stamp of validation.

What’s Ravencoin used for?

So let’s say you’re sending tokens from your account to your friend’s wallet.

Right now, every time you transfer assets, you pay a transaction fee.

Plus, these assets can be easily destroyed – especially in a digital wallet/cryptocurrency exchange.

Whereas Ravencoin would act as proof of your ownership. It’s like a certificate of approval.

Plus, it’d stop digital assets being destroyed.

Price Chart

Ravencoin price history

Current price: $0.01

Why Should You Invest?

  • checkIt’s an open source project that anyone can contribute to
  • checkIt’s a more efficient way to transfer digital assets. A problem that other cryptocurrencies can’t solve
  • checkThey’re backed by Overstock, a cryptocurrency firm that specialises in finding the next big crypto project

Why Shouldn’t You Invest?

  • They’ve had technical problems with their desktop clients
  • Some investors have complained about their lack of leadership and marketing capabilities
  • Whilst it’s received the funding of Overstock, Overstock’s share price has dropped over 50% in 2018. Could the project fail if Overstock continue to lose value?

Why Invest In Cryptocurrency Under $1?

All of these coins have growth potential. 

However, with cryptocurrencies valued under $1, you should realise this doesn’t necessarily mean more growth.

Coin price isn’t a good indicator of future growth.

And just because a coin is valued at $0.01, doesn’t mean it could hit $100 anytime soon.

You see, a cryptocurrency’s price tag doesn’t make much of a difference to their investment potential.

In fact, it’s quite often the opposite.

Here’s why:

  • Total market capitalisation is much more important than a cryptocurrency’s price
  • Total market cap = the total value of all the cryptocurrency’s tokens
  • For example, if a coin has a low price but a very high market cap, there’s not much growth potential

Here’s an example:

Let’s say a coin’s total market cap is $10 Billion but it’s price per coin is $0.30.

Because that cryptocurrency’s total worth is so high, it’s unlikely to grow any more.

Plus, it’s harder for a coin to go from $10 Billion to $20 Billion:

Because that cryptocurrency requires billions of dollars in new investments.

Ripple is a prime example of this.

ripple market cap

Whereas a coin valued at $20 per token that’s total market cap is $10 Million, has far more room to grow.

​Disadvantages Of Cryptocurrencies Under $1

You see, there’s a few disadvantages to investing in cryptocurrencies under $1.

Whilst it might be tempting to go for high risk, high reward investments, 90% of cryptocurrencies will not stand the test of time.

In fact, most fail.

There’s a reason why these coins are valued so low.

We’ve seen this time and time again since the cryptocurrency market’s launch.

Disadvantages of investing in dollar cryptocurrencies include:

  • They usually have less backing and credibility as a group
  • They have a very high volume of tokens in circulation – creating problems with supply vs demand
  • They’re often extremely volatile and unstable in price
  • High risk, high reward cryptocurrencies are a huge gamble – these are not safe investments
  • They’re relatively unknown
  • They don’t have the marketing or leadership capabilities to grow their coin’s adoption
  • The other reason a cryptocurrency might be under $1 is because their price has fallen hard
  • Dramatic drops in price often happen when a project has been abandoned
  • They typically have poor fundamentals