Want to jump straight to the answer? You can invest in Tron, VeChain and BitTorrent on Binance, and you can buy Ankr and AMP on Coinbase!
Let’s face it, the days of becoming a cryptocurrency millionaire from just a small investment are over. That being said, the cryptocurrency industry is still in its infancy, and there’s still money to be made from investing. Learn more about the best cryptocurrencies under 10 cents and how to invest in them today.
What Are Altcoins?
The term altcoin refers to any cryptocurrency other than Bitcoin. More specifically, the term altcoin is used to describe lesser known cryptos. It’s usually not used to describe Ethereum, as its wide adoption and smart contract capabilities put it in a category of its own.
Generally speaking, altcoins are higher risk investments when compared to Bitcoin. Bitcoin is already more volatile than most other assets, so make sure to only invest money into altcoins that you’re able to lose. While altcoins can provide higher returns in a bull market, they often lose more value than Bitcoin during a bear market.
Cryptocurrency Investing vs. Stock Investing
There are a few major differences between investing in stocks and investing in crypto that you should be aware of before buying altcoins. While both assets expose you to risk, cryptocurrencies are generally higher risk investments than stocks. Also, the cryptocurrency market doesn’t close. It’s open 24 hours a day, 7 days a week, 365 days a year.
Being that the markets never close, it’s a good idea to use a portfolio tracker to monitor your investments on a daily basis. If you’re not interested in checking crypto prices all the time, you can set notifications so you’ll only be notified when cryptocurrency prices move significantly. A great free portfolio tracker you can use on iOS and Android is CryptoPro, which we highly recommend.
Market Capitalization vs. Cryptocurrency Price
Before investing in cryptocurrencies solely due to their cheap prices, you need to understand how market capitalization and token price are related. What really matters when investing in a “cheap” cryptocurrency is its market cap, not the per token price.
For example, a $1 cryptocurrency with 1 million tokens has a $1 million market capitalization, and a $0.01 cryptocurrency with 100 million tokens also has a market capitalization of $1 million. All else held equal, these 2 cryptocurrencies would need the same amount of capital to raise the price by the same percentage.
Just because a cryptocurrency is inexpensive on a per token basis doesn’t mean you’re an early investor. Many cryptocurrencies, like DOGE and Shiba Inu, mislead uneducated investors in this way. These tokens have hundreds of billions of tokens in circulation, causing the per token price to remain under $1.
Best Cryptocurrencies Under 10 Cents
- AMP (AMP) is trading at $0.06 with a market capitalization of $2.7 billion. The cryptocurrency is down from its all time high of over $0.10 per token, creating a buy opportunity for long term investors. AMP is a collateral token used for quick assurances of value transfer on a peer-to-peer basis.
- BitTorrent (BTT) is unique because it’s 1 of the few cryptocurrencies that was founded outside of the cryptocurrency industry. The token is used for file sharing, cutting out expenses associated with 3rd party services. The token is currently trading at under $0.03, a significant discount from its all time high price of over $0.10 per token. BitTorrent holds a market cap of $1.7 billion.
- Ankr (ANKR) is 1 of the smallest cryptocurrencies on the list by market cap, coming in at just $525 million. The token is currently trading at $0.075, and it’s down over 50% from its peak just a few months ago. Ankr is used for hosting blockchain nodes, allowing developers to use the network in a similar way to Amazon Web Services.
- VeChain (VET) has the largest market capitalization on this list, coming in at over $5 billion. With more than 64 billion tokens in circulation, you can pick up VeChain at just $0.08 per coin. VeChain is focused on blockchain supply chain management, and it has secured partnerships with industry titans like Walmart, H&M and BMW.
- Tron (TRX) is a smart contract blockchain that seeks to compete with Ethereum. Tron holds a market capitalization of just under $5 billion, placing it in the top 25 largest cryptos by market cap. The token has yet to see new all time highs from its peak in 2018, so there may still be room for Tron to grow.
Cryptocurrency Exchanges
The most accessible place to invest in VeChain, BitTorrent and Tron is Binance. Binance is the world’s largest cryptocurrency exchange, and the platform has a large variety of altcoins to invest in. If you’re looking to invest in Ankr or AMP, look no further than Coinbase. Since Coinbase is a U.S based company that’s publicly traded, you can bet your investments are in good hands.
Both Coinbase and Binance have easy to use mobile apps, so you can manage your portfolio directly from your smartphone. Also, both exchanges support 2-factor authentication, which every cryptocurrency investor should use to protect their account.
Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.
You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.
Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.
Best For
- New cryptocurrency traders
- Cryptocurrency traders interested in major pairs
- Cryptocurrency traders interested in a simple platform
- Simple platform is easy to operate
- Comprehensive mobile app mirrors desktop functionality
- Coinbase Earn feature rewards you with crypto for learning about available coins
- Higher fees than competitors
How To Store Your Cryptocurrency Safely
Once you’ve purchased your cryptocurrency on an exchange, it’s not recommended to store your assets on the trading platform you buy the asset on. This is because cryptocurrency exchanges hold custody of your funds, making them large targets for online hackers. To mitigate this risk, you should consider using a hardware or software cryptocurrency wallet.
If you don’t want to store your crypto in a dedicated wallet, you should opt to use Coinbase as your crypto trading platform. This is because Coinbase stores most of its funds (98%) in a hardware wallet, so even if there’s a security breach hackers will only be able to access 2% of investors’ funds.
Best Hardware Wallet: Ledger Nano S
Hardware wallets are physical devices that store cryptocurrency offline. These devices are small and can be stored in a safe, so you can sleep easy knowing your cryptocurrency is safe. The Ledger Nano S is a great option due to its affordable price and multicurrency capabilities.
Whereas some crypto wallets can only store 1 type of cryptocurrency, Ledger supports over 5,000 cryptocurrencies all on the same wallet. More likely than not, the Ledger Nano S is the only hardware wallet you’ll ever need.
Best Software Wallet: Coinbase Wallet
Coinbase offers a suite of applications, including Coinbase, Coinbase Pro and Coinbase Wallet. Coinbase Wallet is free to download on the app store, and it’s actually quite advanced. The platform allows you to store a variety of cryptocurrencies, and you can even use it to store NFTs (non-fungible tokens). Plus, the wallet connects to decentralized exchanges, allowing you to manage your portfolio directly from your wallet.
Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.
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