Best Crypto Under £1 for 2023 – Cheapest Coins Revealed
Did you know you can buy crypto under £1? The crypto market has expanded following remarkable adoption in 2022. While Bitcoin remains a top choice, BTC remains out of reach for many investors. However, there are many cryptos under £1 that small investors can take advantage of.
This guide reviews some cheap cryptocurrency you can invest in with little funds. We also review some of the best platforms that offer competitive fees.
The Top 10 Best Crypto Under £1 for 2022
Selecting the best penny crypto can be a chore, given the wide range of options available. However, we have streamlined this process and made it easier for you to pick out the best cryptocurrency to invest in 2022, even as the crypto market prepares for another bull run.
Here are a few to get started with:
- Cardano – Best Penny Crypto for DeFi Protocols
- Ripple – Most Popular Crypto for Cross-Border Payments
- Polygon – Best New Cryptocurrency to Invest in 2022
- Algorand – Best Cryptocurrency to Buy in 2022
- Hedera – New Cryptocurrency to Buy in 2022 for Enterprise-Grade Solutions
- Klaytn – Top Crypto for Metaverse Ecosystem
- VeChain – Best Penny Crypto for Supply Chain Logistics
- IOTA – Best Crypto for Limitless Throughput
- The Graph – Best Crypto for Data Indexing
A Closer Look at the Best Crypto Under £1 to Buy Today
Let’s dive into our top 10 crypto under £1, we’ll dive into the crypto projects.
1. Cardano – Best Penny Crypto for DeFi Protocols
Cardano is one of the heavyweights in the crypto space and a clear Ethereum network rival. It’s focused on engendering broader adoption of blockchain and cryptocurrencies. Also, Cardano is a proof-of-stake (PoS) protocol that enables the development of blockchain tools and applications on its network.
The Layer-1 protocol is one of the most popular crypto in the industry. Cardano uses the peer-review approach in developing its blockchain ecosystem. This architecture sees the protocol updates and codes reviewed by a team of experts in the distributed computing field.
Cardano, which is largely undervalued, is one of the crypto under £1 you can buy. The digital token is currently valued at £0.70 and is up 1.92% in the last 24 hours. In the aspect of fundamentals, the Cardano network is still fledgling its ecosystem.
Automated market maker (AMM) and decentralised exchange (DEX) protocol Acardex blockchain recently launched on the Cardano network. The DEX platform is set to enable the seamless exchange of native and non-native tokens on the Cardano protocol.
2. Ripple – Most Popular Crypto for Cross-Border Payments
The Ripple blockchain is one of the most popular crypto in the blockchain ecosystem. It serves as a means of enabling seamless transfer of all currencies across borders easily using blockchain technology.
Ripple uses a Federated Consensus Algorithm (FCA), which allows for low transaction fees and energy demands. The protocol has become a major hub for institutions faced with cross-border payment bottlenecks.
In the crypto space, Ripple’s XRP has seen its growth stunted largely due to an ongoing battle with (SEC) US Securities and Exchange Commission. However, the protocol has shown resilience. It was recently been picked by the Digital Euro Association (DEA) as a key partner in its ongoing central bank digital currency (CBDC) program.
XRP has been battered with severe bearish trends fostered by its legal woes. The result is a dip in price. However, Ripple is still one of the best crypto under £1 to invest. It’s currently trading at $0.7824 (about £0.57), up 0.17% in the last 24 hours.
3. Polygon – Best New Cryptocurrency to Invest in 2022
Polygon is another top crypto under £1 no investor can afford to miss. Rebranded from Matic Network in early 2021 to Polygon, this Layer-2 protocol helps the Ethereum network validate transactions.
Polygon comes with a steam backpack of high scalability, low fees, and low energy demand. The platform is also a major destination for dApps looking to tap into the Ethereum network’s vast resources without sacrificing speed and low fees.
Polygon recently secured a $450 million investment led by top venture capital (VC) firm Sequoia Capital India. Other core contributors include Galaxy Digital and SoftBank.
Utility token MATIC is currently going for a bargain, trading at £1.10. Although Polygon is currently above £1 , the scaling solution is one investment not to be missed for the world.
4. Algorand – Best Cryptocurrency to Buy in 2022
Algorand, a top Layer-1 smart contract platform, has become one of the famous ‘Ethereum killers.’ Founded in 2016, Algorand enables the development of dApps on its mainnet without compromising on speed, fee, and energy consumption.
This unique digital crypto has since become the go-to protocol for several blockchain protocols. Real-estate NFT platform and marketplace Vesta Equity recently launched on Algorand, following a growing influx of projects into the Algorand ecosystem.
Algorand’s ALGO is currently trading at $0.8562 (about £0.62) at press time. This price follows a broader market correction, and ALGO is up 0.69% in the past day.
5. Hedera – New Cryptocurrency to Buy in 2022 for Enterprise-Grade Solutions
The Hedera blockchain is a one-of-a-kind crypto project. The protocol aims to be a more modernised and updated version of a blockchain protocol. Hedera is carbon negative due to its reliance on an innovative computing technology, Hashgraph.
Hedera is a sustainable, enterprise-grade public network focused on fostering a decentralised economy. It’s built to overcome the challenges of older blockchains like Bitcoin and Ethereum, and it comes with a predictable gas fee system.
Recognising the potential of the blockchain protocol, top gaming company Ubisoft has joined the Hedera Governing Council and will be launching its next generation gaming on the Hedera network.
At press time, Hedera’s utility token HBAR is currently trading at £0.15, making HBAR one of the most under-priced DeFi-enabling protocols in the ecosystem.
6. Klaytn – Top Crypto for Metaverse Ecosystem
The Klaytn blockchain is an entirely mind-blowing protocol in its own right and has become a major hub for the fast-growing Metaverse ecosystem. The protocol aims to become the iconic centre for the Metaverse, GameFi, and the creator economy.
Klaytn is an enterprise-grade protocol that hopes to engender a user-friendly experience for millions of users. Some of its unique features include 1-second deterministic finality, which allows transactions to be validated within a second.
The blockchain also features an end-to-end Metaverse package, which helps development teams launch customised solutions, SDKs, and smart contract libraries within hours.
Klaytn recently partnered with the Blockchain Game Alliance (BGA) protocol to further expand the frontiers of blockchain into the gaming industry.
Utility token KLAY is trading on the same trendline as the 50-hour exponential moving average (EMA) of $1.274 (about £0.93). The digital asset indicates a buy signal at the moving average convergence and divergence (MACD) indicator.
7. VeChain – Best Penny Crypto for Supply Chain Logistics
The VeChain network is built on top of the VeChainThor public blockchain. The protocol provides tools for resolving real-world economic challenges faced by users.
Vechain is a versatile protocol, with operations in supply chain and logistics. The protocol enables businesses to use blockchain technology to track and monitor their products in real-time and confirm quality after delivery.
Vechain has multiple use cases and applicable industries, including digitalisation for high-end products, digital vehicle passports, digital assurance solutions, and several others.
Looking to boost its accessibility in the rapidly expanding Web3 ecosystem, the Vechain protocol recently launched its network native stablecoin project called VeUSD. At press time, utility token VET is trading at $0.04862 (about £0.04), down 1.92%.
8. IOTA – Best Crypto for Limitless Throughput
Using an innovative proprietary technology called Tangle, IOTA runs on a system of nodes that confirms transactions on its protocol. This comes with greater speed than the conventional blockchain system.
IOTA’s Tangle comes with many perks, including zero miners and zero fees. IOTA’s dependence on a new system of validating transactions enables limitless throughput while cutting down on expected fees for using the platform.
IOTA has recently received a funding boost from Dell and Google.org for its work program. The combined effort is expected to yield results in the Sustainable Development Goals (SDGs).
MIOTA is trading at $0.75 (about £0.55) at the press time. The digital asset is currently down 5.86% in the past day.
9. The Graph – Best Penny Crypto for Data Indexing
The Graph is an Ethereum-based indexing protocol used for querying data by blockchain networks. With the Graph protocol, blockchain protocols can retrieve blockchain data easily without going through the rigours of generating data during any given scenario.
The Graph is the Google of the Web3 ecosystem and allows development teams to build and publish application programming interfaces (APIs) called subgraphs.
The Graph is seen by many as the web stack for the new iteration of the internet. To that end, it has been very active in the blockchain ecosystem. The Graph Foundation recently supported the Nomic Foundation with $1 million through its grants arm.
The protocol’s native crypto token GRT is currently trading at $0.3861 (about £0.279), down 0.72% in the past day.
Is Crypto Under £1 a Good Investment?
Getting a low-cost cryptocurrency has several benefits than going after the pricey ones. Here are some reasons you should buy cryptocurrency with low market prices today.
1. More Upside Potential
Bitcoin is a clear investment choice for many. However, the possibility of the premier digital seeing exponential growth or 10x its current price is quite slim. Low-cap digital assets are more suited to give you a higher return on investment since they have more growth potential in the long run.
For example, Avalanche’s AVAX token has since grown more than 20x its valuation in two years. Some low-cost tokens could become the next Bitcoin.
2. Buy More For Little
1 BTC currently goes for over £27,000, which means you’ll need to be a millionaire to afford a sizable chunk of the foremost digital asset. However, you can easily buy thousands of LBLOCK tokens and other crypto under £1 without suffering a leak in your bank account.
The more you buy for little, the more you make when the digital asset shoots up in value. So low-priced cryptos are a smarter investment choice for retail investors than more established crypto brands.
3. Staking Rewards Are Extra Gains
Most new-generation blockchain protocols are proof-of-stake (PoS) networks. Staking is a peculiar character of PoS networks and it involves users locking up or pledging a particular amount of tokens to secure the network for a particular period.
The purpose of staking is to keep the network safe from malicious attacks. In turn, PoS networks reward stakers with newly minted tokens for safeguarding the network. This feature can end up becoming a viable passive income generation tool for retail investors who don’t have to do anything besides committing their token.
Staking rewards are also very high compared to traditional banking rates. You can get as much as 240% within a seven-day window. For more information on staking your crypto holdings you can read our comprehensive guide on the best crypto staking platforms.
4. Low-Cap Cryptos Are The Next Generation
Bitcoin is the trail-blazer for the decentralised economy. However, the premier network’s use cases are relatively limited. New generation protocols promise more solutions to real-world challenges than Bitcoin. They are multi-faceted, more versatile, and instinctively a better choice for building a strong crypto portfolio in the coming years.
5. The Season of Altcoins Is Drawing Near
Short for alternative currencies, Altcoins are becoming increasingly popular and a better choice for generating maximum yield in the crypto space. Most altcoins averaged a growth performance well above 10,000% in the past year, showing huge potential.
Several investors are shifting their focus to altcoins due to their high returns. So, this is the season for altcoins to flourish, and you can tap on a few promising ones to build your crypto empire.
Where to Buy Crypto Under £1 in the UK
Deciding where to buy crypto under £1 in the UK can be a bit difficult. Why? There are now several platforms that offer support for these high-yield digital assets. However, we have highlighted a few of the best crypto exchanges you can easily tap for low fees, strong regulation, user-friendliness, and an overall great trading experience.
Low-cap investments are now the choice of many due to their higher yield and growth potential. With many promising prospects now available for a bargain, the crypto space is becoming increasingly enticing to many.