For many new crypto investors, the high cost of top tokens like Bitcoin can be discouraging. However, there are still plenty of smaller cryptocurrencies that offer growth potential for those willing to take calculated risks. UAE-based cryptocurrency trader Brian Deshell and investment manager Brody Dunn share their thoughts on four affordable tokens with great potential.
1. Ripple (XRP)
- Price (as of August 1): $0.6 (Dh2.2) per token
- What is it? Ripple, developed by a crypto tech company, facilitates global transactions. XRP is designed for payments, offering faster, more reliable, and cheaper transactions than traditional global payment systems.
- Why buy it? Despite its volatility, XRP has a clear use case in the crypto industry. Experts predict its value will increase by 24% in the coming months.
- Use Case: XRP is primarily used for cross-border payments. Traditional banking systems can take days to settle international transactions, whereas XRP can do it in seconds with much lower fees.
- Expert Insight: Brody Dunn mentions that “the more you buy of the token, the more your earnings growth will be.” This highlights the potential for substantial returns if XRP’s value increases as predicted.
2. Dogecoin (DOGE)
- Price (as of August 1): $0.1 (40 fils) per token
- What is it? Originally a joke, Dogecoin has provided real returns to investors. It’s known for its low price and high volatility, often influenced by social media and Elon Musk’s tweets.
- Why buy it? Dogecoin can still rally in the future, making it a promising investment. It’s suitable for both long- and short-term investments.
- History: Dogecoin was created as a parody of Bitcoin but has gained a strong community and widespread use for tipping online and fundraising.
- Volatility: Brian Deshell notes that Dogecoin’s price can spike based on hype, making it a potentially lucrative but risky investment. “Dogecoin remains a promising investment — this cryptocurrency can still rally in the future.”
3. Chainlink (LINK)
- Price (as of August 1): $13 (Dh47) per token
- What is it? Chainlink connects blockchain technology with real-world data, enhancing smart contracts with security and reliability.
- Why buy it? Chainlink has shown significant growth potential and is currently up by over 7% year over year. Experts believe it could reach $20 (Dh74), making it a good entry point for new investors.
- Functionality: Chainlink provides a bridge between blockchain smart contracts and real-world data, allowing for more complex and reliable applications.
- Growth Potential: “Chainlink has shown significant potential with growing adoption in various sectors,” says Brody Dunn. Its integration into different industries signals strong future growth.
4. Cardano (ADA)
- Price (as of August 1): $0.4 (Dh1.5) per token
- What is it? Cardano is a platform that uses the Ouroboros protocol to validate transactions efficiently. It aims to scale globally without compromising security.
- Why buy it? Cardano has a strong track record, processing over 20 million transactions with no downtime. It recently launched ADACash, a rewards token that quickly gained popularity.
- Technology: Cardano’s Ouroboros protocol is designed to be energy-efficient, which is increasingly important in the crypto space.
- Track Record: “Cardano has an impressive record. By late 2021, it had processed over 20 million transactions with no downtime,” highlights Brian Deshell. This reliability makes it a solid investment choice.
Summary
While top cryptocurrencies like Bitcoin might be too expensive, there are many other affordable options with growth potential. Ripple, Dogecoin, Chainlink, and Cardano are four tokens that experts believe are worth considering for new investors. Each has unique features and use cases, offering various ways to diversify and grow your crypto portfolio.
Quinn Sparrow is a dynamic writer who brings a playful and energetic vibe to his articles. A sports and gaming enthusiast, Quinn loves spending his weekends on the basketball court or diving into the latest esports tournaments. When he’s not playing or watching games, you might find him exploring new investment opportunities, always on the lookout for the next big thing. With over 8 years of experience in writing investment strategies, Quinn combines his passion for sports and gaming with his financial expertise to create content that is both engaging and insightful.