Exploring the cheapest cryptocurrencies to invest in 2018

In the dynamic world of cryptocurrencies, identifying the cheapest options to buy can be a challenging task. However, with the right approach, one can make informed decisions and potentially benefit from the rising value of these digital assets. This article delves into the cheapest cryptocurrencies to invest in during 2018, providing insights into their potential and risks.

1. Bytecoin (BCN)

Bytecoin, often referred to as BCN, is a decentralized cryptocurrency that focuses on privacy and anonymity. Launched in 2012, it operates on a unique CryptoNote algorithm, making it challenging to trace transactions. In 2018, BCN was one of the cheapest cryptocurrencies to buy, with a price of around $0.0033. Its low price made it an attractive option for investors looking to diversify their portfolios.

2. Verge (XVG)

Verge is a privacy-focused cryptocurrency that aims to provide users with complete anonymity while using the digital currency. It utilizes a combination of technologies, including Tor and I2P, to ensure the privacy of its users. In 2018, Verge was priced at approximately $0.0007, making it one of the cheapest cryptocurrencies to invest in. Its focus on privacy and the potential for mainstream adoption contributed to its popularity among investors.

3. Monero (XMR)

Monero is another privacy-oriented cryptocurrency that has gained significant attention in recent years. It utilizes advanced cryptographic techniques to ensure complete anonymity for its users. In 2018, Monero was priced at around $0.015, making it one of the cheapest cryptocurrencies to buy. Its focus on privacy and security has attracted a dedicated community of users and investors.

4. Dogecoin (DOGE)

Dogecoin, often referred to as DOGE, is a cryptocurrency that started as a joke but has gained significant popularity over the years. It was created in 2013 as a satirical take on Bitcoin and has since become one of the most well-known cryptocurrencies. In 2018, Dogecoin was priced at approximately $0.000035, making it one of the cheapest cryptocurrencies to buy. Its low price and fun community have contributed to its appeal among investors.

5. Siacoin (SC)

Siacoin is a decentralized storage platform that aims to provide secure and affordable cloud storage solutions. It utilizes blockchain technology to create a decentralized network of storage providers. In 2018, Siacoin was priced at around $0.0005, making it one of the cheapest cryptocurrencies to buy. Its focus on providing affordable storage solutions and its potential for growth have made it an interesting investment option for many.

6. Digibyte (DGB)

Digibyte is a cryptocurrency that focuses on security, speed, and scalability. It utilizes a combination of different cryptographic algorithms to ensure secure transactions. In 2018, Digibyte was priced at approximately $0.0002, making it one of the cheapest cryptocurrencies to buy. Its focus on improving the overall efficiency of the blockchain has attracted a dedicated community of users and investors.

7. Byteball (B2)

Byteball is a decentralized platform that combines the functionalities of a cryptocurrency and a decentralized application (DApp) platform. It aims to provide a seamless experience for users to create and interact with DApps. In 2018, Byteball was priced at around $0.0006, making it one of the cheapest cryptocurrencies to buy. Its innovative approach and potential for growth have made it an interesting investment option for many.

8. BitConnect (BCC)

BitConnect was a cryptocurrency platform that offered high-interest returns on deposits. However, it was later revealed that BitConnect was a fraudulent scheme, and the project was shut down in 2018. It is essential to exercise caution when considering investments in any cryptocurrency, as there are numerous scams and fraudulent schemes in the market.

When considering the cheapest cryptocurrencies to buy in 2018, it is crucial to conduct thorough research and assess the potential risks associated with each investment. While these cryptocurrencies may have offered attractive prices in 2018, their performance and long-term viability can vary significantly.

1. Q: What are the main factors to consider when choosing a cheap cryptocurrency to invest in?

A: When selecting a cheap cryptocurrency to invest in, it is essential to consider factors such as the project's potential, team, community support, market trends, and regulatory compliance.

2. Q: How can I determine the potential of a cheap cryptocurrency?

A: To determine the potential of a cheap cryptocurrency, you can analyze factors such as the project's whitepaper, roadmap, team experience, community support, partnerships, and market trends.

3. Q: Are cheap cryptocurrencies more volatile than established cryptocurrencies?

A: Yes, cheap cryptocurrencies tend to be more volatile compared to established cryptocurrencies. This volatility can offer higher potential returns but also carry increased risks.

4. Q: How can I protect myself from scams when investing in cheap cryptocurrencies?

A: To protect yourself from scams, it is crucial to conduct thorough research, verify the credibility of the project and team, be cautious of overly promising returns, and stay informed about the latest cryptocurrency news and developments.

5. Q: Can I invest in cheap cryptocurrencies without prior knowledge of the market?

A: While it is possible to invest in cheap cryptocurrencies without prior knowledge of the market, it is highly recommended to educate yourself about the basics of cryptocurrencies, blockchain technology, and the market dynamics before making any investment decisions.