In the ever-fluctuating world of cryptocurrencies, the top projects continue to steal the limelight, leaving some under-the-radar opportunities in the shadows. While the surge in major cryptocurrencies is a positive sign, it also brings bargain cryptos brimming with potential to light. These hidden gems offer attractive entry points for risk-taking investors looking to wager on cheap cryptos to buy for the long haul.
Though down by double-digit margins this year, these discounted cryptos present a compelling prospect for investors with a healthy risk appetite looking for more upside ahead. Of course, prudence is key here, as these investments carry higher risk-reward ratios and can be easily manipulated. As a rule of thumb, the consensus among experts is to allocate a small, single-digit percentage of your investment portfolio to cryptos to balance potential rewards with risks.
Polygon (MATIC-USD)
Polygon’s (MATIC-USD) innovative “Layer 2” solution makes it a standout, enabling quicker and cost-effective transactions that appeal to large corporations and investors. Compatibility with Ethereum (ETH-USD) adds to its allure, providing the flexibility to shift assets and applications between different blockchain platforms effectively.
What sets Polygon apart even further is its implementation of zero-knowledge EVM roll-ups. This groundbreaking technology optimizes transaction processing while ensuring compatibility with Ethereum’s code. As the challenges with Ethereum’s network congestion continue to loom, investing in MATIC opens the door to capitalize on Polygon’s tremendous scalability and potential future ascent. With MATIC down more than double-digit margins year-to-date, it’s an ideal time to load up on the crypto.
Algorand (ALGO-USD)
Other cryptos often shadow Algorand (ALGO-USD). But this crypto is gradually carving their niche with its high-speed transactions, low fees, and versatile applications. Although its level of decentralization continues to raise eyebrows, its innovative “pure proof of stake” technology is turning heads. Here, the crypto holders, not miners, validate transactions and reap the rewards, making it an intriguing choice for those looking to scoop up long-term cryptos on the dip.
Algorand’s recent update truly sets it apart, with blocks now generating in just 3.3 seconds and with a bump of over 10%; the network’s speed is comparable to browsing traditional web applications. This turbocharged experience doesn’t compromise on security or decentralization, either weaving the best of both worlds. For investors looking to tap into reliability and speed, Algorand emerges as a promising contender.
Cosmos (ATOM-USD)
Cosmos (ATOM-USD), with its ambitious goals, is laser-focused on resolving complicated issues in the blockchain sphere. By developing a powerful ecosystem of interconnected blockchains through its pioneering Interblockchain Communication (IBC) protocol, Cosmos is tackling one of the blockchain’s most taxing challenges. This approach enables seamless connections with giants such as Bitcoin and Ethereum and fosters a truly interconnected web vital for building the Web 3.0 concept. Moreover, the network’s modular app development framework can efficiently streamline app creation, positioning Cosmos for a significant upside.
The Cosmos network’s ATOM token is essential, enabling users to contribute to security and earn staking rewards. Furthermore, its v9-Lambda upgrade introduces replicated security. It enables blockchains allowing projects to concentrate on their strengths and ATOM stakers to earn additional yield, making Cosmos a notable player in the crypto landscape.
Zcash (ZEC-USD)
Zcash (ZEC-USD) though lesser known in the crowded cryptocurrency realm, holds a unique position as a leading privacy coin. With a foundation echoing Bitcoin’s (BTC-USD), including a fixed total supply of 21 million coins, Zcash’s competitive edge lies in its incredibly advanced cryptography. This technology makes transactions on Zcash’s blockchain transparent, giving users a choice between visibility and absolute privacy. This tailored approach continues to attract enthusiasts globally, amplifying Zcash’s appeal.
However, it’s essential to note that Zcash’s smaller stature makes it prone to massive volatility, with price swings that can be rather abrupt. Additionally, as regulatory scrutiny looms over the crypto space and privacy becomes a critical concern, Zcash’s distinguishing feature of enhanced privacy protection will continue to attract savvy investors’ eyes. Also, in a digital realm where anonymity is increasingly treasured, Zcash could emerge as an attractive long-term option to wager on.
Dash (DASH-USD)
Born from a Bitcoin fork, Dash (DASH-USD) stands apart as a leading privacy coin, utilizing its PrivateSend system to obscure transaction details. This led to it being labeled as a “Darkcoin” by some, a criticism stemming from its potential use on the dark web. Nevertheless, the broader perspective reveals a coin with functionality and purpose.
Moreover, Dash excels in its role as a privacy coin, fulfilling the need for anonymity that most crypto users are seeking. This attribute, however, has placed Dash in the crosshairs of regulators, including the U.S. Department of Justice, who have accused it of facilitating cybercrime. While these concerns should not be dismissed lightly, advocates contend Dash reigns supreme in terms of tremendous privacy and security.
While challenges might mark its future, those seeking a robust privacy coin may find in Dash a worthy long-term investment, albeit one that demands a careful and informed approach.
Flow (FLOW-USD)
Flow (FLOW-USD) is a lesser-known yet intriguing blockchain project crafted by Dapper Labs (the creators of Crypto Kitties). Utilizing a proof-of-stake consensus mechanism, Flow offers a powerful and efficient, cost-effective alternative to close transactions compared to other top crypto options such as Ethereum.
Despite relinquishing some recent gains, Flow’s prospects remain mighty promising, especially for those eyeing future NFT-led rallies. The project’s focus on gaming infrastructure, content, and decentralized finance applications indicates a massive long-term growth trajectory.
Therefore, investors hunting for a high-risk, high-reward play in the best NFT cryptos should look closely at Flow. Its exceptional stance in the rapidly evolving NFT landscape and commitment to innovation signals an attractive entry point for those seeking to tap into this dynamic market.
1inch (1INCH-USD)
For those looking to tap into the burgeoning decentralized finance (DeFi) world, 1inch (1INCH-USD) stands out as a prime candidate. This company offers two key products, an app that offers deep liquidity, low slippage, and optimal exchange rates, and a remarkably secure mobile wallet for developing DeFi operations, positioning itself as an all-inclusive solution for decentralized finance traders. In essence, 1inch is crafting a one-stop shop for the DeFi sector, with features such as limit orders and bridges across various blockchains.
As the DeFi sector grows, the trading volumes within projects like 1inch will likely expand, offering long-term benefits for its investors. However, as with many altcoins, 1inch has exhibited significant volatility. Additionally, its integrated offerings and alignment with the growing DeFi space make it an appealing prospect; with an eye on both potential and long-term volatility, investors can effectively determine whether this unique aggregator aligns with their strategies and risk tolerance.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
