10 Best Cheap Crypto Coins to Buy in 2024

The cryptocurrency market extends far beyond Bitcoin and Ethereum, offering numerous cheap crypto coins with strong technical foundations that you can buy to expect higher returns. As we enter the Q2 of 2024, let’s shift our focus to some of the best cheap crypto coins that could yield high-growth potential returns.

For example, Toncoin (TON) has recently garnered crypto market attention, ascended among the top 10 cryptocurrencies, and secured a spot in the top three for cumulative returns over the past year. Toncoin has recorded a 240% return over the past year, outpacing many major cryptocurrencies.

Our team at Conifomania has analyzed the best cheap crypto to buy, each offering a unique blend of features and potential for growth –

• Toncoin: Used for network operations transactions on the TON blockchain
• 5th Scape: Built on innovative VR and AR gaming project ecosystem
• Smog: Built on Solana, targeting the largest airdrop in history
• SPONGE V2: Enhances Meme coin utility with a novel staking model
• Dogeverse: A multi-chain Doge token is available on major blockchains
• WinerAI: Has a trading Bot designed to merge the world of AI with cryptocurrency
• Ripple: A banking token used for cross-border payments
• Solana: A blockchain platform with Dapps for developers and users
• Shiba Inu: An ecosystem with growing features and tokens such as BONE and LEASH
• Bittensor: A decentralized network facilitating collaboration and intelligence sharing among AI models

Best Cheap Crypto Coins

Toncoin (TON)

• Current Price: $6.30
• Market Cap: $21,895,859,730
• Circulating Supply: 3,474,560,086 TON

TON is the native cryptocurrency of the decentralized layer-1 blockchain, The Open Network. The TON blockchain is open-sourced and supported by many network contributors, including the Switzerland-based non-profit organization, the TON Foundation. It is used to pay fees for transactions performed on the network.

There have been significant developments in the Toncoin ecosystem, such as the strategic partnership with HashKey, a Web3 firm offering digital asset services like a crypto exchange and cloud node validation. In addition, the launch of the highly popular Notcoin game, which has onboarded over 30 million users, could potentially catalyze the demand for Toncoin. The coin is currently available for farming on major exchanges like Binance and OKX, as well as on Toncoin’s native Earn platform.

Why invest in Toncoin?

• TON blockchain is designed for high-speed transactions and scalability and can handle millions of transactions per second
• Strategic partnerships, such as its integration with Telegram and, recently, Tether, have extended the availability of its USDT and XAUT stablecoins by launching them on the TON blockchain

Why avoid investing in Toncoin?

• It is a relatively new cryptocurrency, and its long-term viability and adoption are yet to be determined

5thScape (5SCAPE)

• Initial Presale Price: $0.00187
• Fully Undiluted Market Cap: $52.11 Million
• Token Available in Presale: $4.16 Billion

The 5thScape project is creating an expansive virtual reality ecosystem designed to integrate with various aspects of our daily lives and the broader VR market. Currently, in the presale phase, the 5SCAPE token is being offered to raise funds for developing the extensive range of physical and virtual products that the 5th Scape team has outlined in their roadmap.

Why invest in 5thSCAPE?

• At the current presale stage, 5SCAPE is priced at just $0.00187 per token, making it one of the cheapest cryptocurrency investments available
• The listing of the 5thScape coin on reputable cryptocurrency exchanges would increase its accessibility, potentially driving up demand and price
• It provides discounts on products, free basic access to games, exclusive in-game features, and early access to VR content
• The 5thScape project plans to introduce comprehensive products that could drive demand for the 5SCAPE token within the ecosystem

What to consider while investing in 5thSCAPE?

• It is a new project, and its ability to execute its ambitious plans and gain widespread adoption is yet to be proven
• The VR market is still in its early stages, and consumer demand for VR products and services is uncertain

Smog (SMOG)

• Current Price: $0.04725
• Market Capitalization: $36,815,207 Million
• Total Supply: 1.4 Billion SMOG

Smog is a low-cost cryptocurrency launched this year. Despite being new to the market, it has seen a remarkable price surge of over 4,500% after its initial release. This Solana blockchain-based meme coin made its debut on the Jupiter decentralized exchange, incentivizing investors with a 42% annual percentage yield for staking to build its user base. Smog provides airdrop rewards to holders and stakes across both the Solana and Ethereum networks.

Why invest in SMOG?

• Smog offers investors extra points that they can use to receive airdrops. It aims to deliver the biggest airdrop ever on Solana.
• With a total supply of 1.4 billion tokens, Smog’s tokenomics are designed to facilitate a significant airdrop. A substantial 35% of the total supply is allocated for airdrop rewards, potentially creating a strong incentive for investors to hold or stake SMOG tokens.
• Investors holding SMOG tokens on the Ethereum network can stake their holdings to earn an attractive 42% annual percentage yield, enhancing the potential returns from this meme coin investment.

What to consider while investing in SMOG?

• SMOG’s value is largely driven by speculation and market sentiment, making it highly volatile and unpredictable
• SMOG offers staking rewards and airdrops, but its long-term utility and adoption within the broader cryptocurrency ecosystem still need to be determined
• With 50% of the token supply allocated for marketing and a significant portion reserved for exchange listings, there is a risk of centralized control and the potential for token price manipulation

SPONGE V2

• Presale Price: $0.002265
• Total Supply: 150 Billion SPONGE

Sponge V2 is the second iteration of Sponge, a popular meme coin that experienced significant success and explosive growth in May 2023. It is a continuation of the original Sponge meme coin, backed by the same team responsible for the success of Sponge V1.  SPONGE V2’s low price makes it one of the best cheap cryptos to invest in.

The project’s focus and efforts will now shift entirely to the V2 version. The team has already demonstrated its expertise and capability within the meme coin niche, providing confidence in Sponge V2’s potential.

Why Invest in SPONGE V2?

• A significant portion (26.93%) of the 150 billion total token supply will be available for early investors, potentially offering favorable token prices and rewards
• SPONGE V2 is developing a play-to-earn game, which could provide a use case for token holders, attract new buyers, and serve as a marketing tool for the project
• The team aims to list SPONGE V2 on major exchanges, which could increase liquidity, accessibility, and exposure to a broader investor base

What to consider while investing in SPONGE V2

• While the play-to-earn game offers a potential use case, the long-term utility and real-world adoption of SPONGE V2 still need to be determined
• Since its value is largely driven by speculation and community hype, it can be highly volatile and unpredictable

Dogeverse (DOGEVERSE)

• Total Market Cap: 200 Billion Tokens

Dogeverse is a meme token developed on a multichain network spanning Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base. It is the first meme coin to truly operate across multiple blockchain platforms, making it one of the best cheap cryptos to buy.

The presale for Dogeverse has already raised over $10 million, highlighting the strong investor interest and demand for this unique multichain meme coin offering.

Why Invest in Dogeverse?

• Dogeverse attracts users with its promise of interoperability and community engagement. It enables token movement across various blockchains, allowing for flexibility and unity among crypto enthusiasts.
• Dogeverse offers useful features like staking, which further enhances its growth prospects and provides an additional incentive for investors to hold the token.
• Historical trends indicate that when Bitcoin performs well, altcoins, including meme coins like Dogeverse, tend to experience price surges as well, presenting an opportunity for potential gains.
• Dogeverse’s presale has already raised over $10 million, showcasing robust investor interest and demand.

What to consider while investing in Dogeverse?

• As a new project, investing in Dogeverse carries higher risks than investing in established coins.
• Low liquidity and trading volume can hinder the ability to buy or sell large amounts of Dogeverse without significantly affecting prices.

WinerAI (WAI)

• Presale Price: $0.000303
• Token Supply: $69 Billion

WienerAI is a unique meme coin that combines elements of a dog, a sausage, and an AI trading bot. While it possesses the potential for meme popularity, it also offers a practical use case in the form of a trading bot. This bot enables users to swap tokens, has zero fees, and protects against miner extractable value (MEV) bots.

Why Invest in WinerAI?

• WienerAI merges meme token hype with AI-powered utility, which could lead to a sustained value
• It uses advanced AI to prevent stagnation and ensures the ongoing development
• Generous staking rewards incentivize holding WAI tokens, boosting long-term stability and growth

What to consider while investing in WienerAI?

• As a meme coin, its growth relies on viral marketing and creating FOMO among investors
• It involves high volatility and the risk of significant price fluctuations, particularly if liquidity remains low

Ripple (XRP)

• Current Price: $0.5290
• Market Cap:$29 Billion
• Circulating Supply: 55,288,951,055 XRP

XRP, developed by Ripple Labs, functions as a token for the XRP Ledger, which is crafted to facilitate swift cross-border transactions. Ripple has secured partnerships with numerous global banks, such as Santander and HSBC. Despite reaching an all-time high of $3.84 in 2018, XRP’s value plummeted by over 60% following a lawsuit from the SEC in December 2020, which alleged that Ripple was selling unregulated securities.

Why Invest in XRP?

• XRP is subject to significant price volatility and unpredictable market swings, which can lead to substantial gains or losses in a short period.
• The regulatory landscape surrounding XRP is constantly developing, and changes in regulations or legal actions could impact its value and adoption.

What to consider while investing in XRP

• XRP has faced legal challenges and regulatory scrutiny, particularly regarding its classification as a security, which significantly implicates its future.

Solana (SOL)

• Current Price: $175
• Market Cap: $80 Billion
• Circulating Supply: 449,152,394 SOL

Solana is a cryptocurrency and blockchain platform designed to deliver a fast, secure, and highly scalable infrastructure for dApps and token issuance. Launched in March 2020 by Solana Labs, it has rapidly grown into one of the largest blockchain networks in the industry. 

It utilizes a unique consensus mechanism called Proof of History (PoH), enabling it to process thousands of transactions per second while maintaining low transaction fees. It is one of the fastest and most cost-effective blockchains currently available.

Why Invest in Solana?

• Jito’s development of a restocking protocol on Solana could increase the network’s appeal and utility, as restocking solutions have gained significant interest and adoption.
• Zeus Network’s upcoming launch of a Solana-Bitcoin bridge will enhance the interoperability and cross-chain capabilities of the Solana ecosystem, potentially attracting more users and developers.

What to Consider while investing in SOL?

• It has experienced multiple network outages and performance issues in the past, raising questions about the network’s reliability and scalability, particularly during periods of high demand or network congestion
• It faces intense competition from other high-performance blockchains, such as Avalanche and Polygon, which could potentially limit its adoption and market share.

Shiba Inu (SHIB)

• Current price: $0.000002520
• Market Cap: $14.90 Billion
• Circulating Supply: 589.27T SHIB

SHIB is a decentralized cryptocurrency driven by a global community with millions of holders worldwide. Launched in late 2020 on the Ethereum blockchain, the SHIB token has rapidly gained widespread popularity and recognition. SHIB is accepted as a payment method at hundreds of locations, either directly or through third-party intermediaries facilitating its use.

Why Invest in Shiba Inu?

• SHIB has a specific use case within its ecosystem. It can be used on the ShibaSwap decentralized exchange for swapping, staking, or providing liquidity, which could drive demand for the token.
• Shibarium’s launch offers faster transactions and lower fees, boosting dApp development and SHIB token demand.

What to consider while investing in SHIB?

• SHIB faces high volatility and potential losses compared to other coins.

Bittensor (TAO)

• Current Price: $445
• Market Cap: $3 billion
• Circulating Supply: 6,811,393 TAO

Bittensor is a decentralized platform that uses blockchain technology to enable collaboration and intelligence sharing among artificial intelligence models. It facilitates autonomous interaction between machine learning models, allowing them to securely share data and computing resources across a distributed system. 

Participants can contribute AI models that benefit from real-time updates and improvements provided by the collective network. This fosters a collaborative environment for enhancing AI capabilities.

Why invest in Bittensor?

• It plays a crucial role in handling transactions, governance, and access to premium features of the Bittensor network. As the network expands, TAO’s utility is likely to grow, enhancing its importance and potentially its market value.
• Bittensor’s potential development of new applications and services that utilize AI could create a broader ecosystem where TAO would become essential for various AI-related services.

What to consider while investing in Bittensor?

• Bittensor’s success largely depends on its adoption by users and developers within the AI and blockchain communities. The field is highly competitive, with numerous players aiming to merge AI with blockchain.

Things to consider before Investing in Cheap Crypto

When investing in cheap crypto coins, you must consider the following –

• Understand the Underlying Technology: Research the cryptocurrency’s technology, consensus mechanism, scalability solutions, and unique features. Ensure that the technology is robust and addresses real-world problems or offers improvements over existing solutions.
• Evaluate the Team and Vision: Investigate the background and experience of the team behind the project. A credible team with a proven blockchain track record and clear vision is a positive indicator of investment potential.
• Analyze Market Demand and Adoption: Assess the current and potential market demand for the cryptocurrency. Consider market size and adoption potential across industries.
• Review the Tokenomics and Supply: Examine the cryptocurrency’s tokenomics, such as the total supply, distribution, and inflation/deflation controls. Understanding these factors can help you evaluate the potential for price appreciation or depreciation.
• Community Engagement and Development Activity: An active cryptocurrency community signals sustained interest and ongoing development. Check for regular updates, community discussions, and active contributions from developers and supporters.
• Regulatory Landscape: Understand the regulatory environment surrounding cryptocurrency in different jurisdictions. Varying regulations across regions can impact a cryptocurrency’s adoption and operation. It’s crucial to consider how regulatory changes could affect the project’s future.

FAQs