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The price of bitcoin is too high; investors should look at the cost of other Cryptocurrencies that are affordable. Most people only know about or have heard about Bitcoin and its inflated price.
The price of one Bitcoin is more than US$ 2,500, so if you only have US$ 1,000 and you plan to buy a cryptocurrency, Bitcoin would not be an appropriate investment for you. With $1,000, you can only buy 0.4 Bitcoins; this will be a little investment which no one should be proud of.
With $1,000, you can own 388,040 Bytecoins.
Below is a list of other high market capitalized low priced cryptocurrencies you can buy which are worth less than $1 each.
The current price of one Ripple is $0.284.
With a $1,000 investment, you can own 3,521 Ripple coins.
Ripple was introduced in the cryptocurrency market in 2012.
The current price of one NEM is $0.2138. With an investment of $1,000, you can own 4,670 NEM coins.
NEM was launched in March 2015.
The current price of one Bytecoin is $0.0027. With an initial investment of $1,000, you can own 388,040 Bytecoins.
Bytecoin is the cheapest cryptocurrency who market capital is high that one can buy. Its market capitalization is ranked 11th.
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The price of one DigiByte is $0.058. With an investment of $1,000, you can own 17,090 DigiBytes.
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The market capitalization of this cryptocurrency is ranked 12th of all other cryptocurrencies.
The price of one Golem coin is $0.47. With an investment of $1,000, you can buy 2,100 Golem coins.
The price of one Stellat Lumen is $0.039.
With an investment of $1,000, you can buy 25,040 Stellat coins.
Dogecoin (DOGE, XDG)
Dogecoin is another Cheap cryptocurrency which costs $0.0033 a peace. With $1,000, you can own 296,290 coins.
Why you should invest in cheap cryptocurrencies
The price of all cryptocurrencies has been growing in the recent month including the cheap ones. Speculators are beginning to purchase the coins so as to make profits both in the long term and short term.
Cryptocurrencies are still a profitable investment since they are still in their infancy stage and only a few people possess them.
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Their supply is also fixed. Cryptocurrencies can be compared to commodities such as gold.
Once gold runs out, its mining will stop. Once the supply of gold in the ground runs out, its price will begin to rise.
Cheap cryptocurrencies will also attract minority investors in the future because their price will still be attractive.