3 Cheap Cryptos to Buy Now for Big Gains

30 thg 11, 202217:36 UTC

Many investors are probably not looking for cheap cryptos to buy right now. After all, there are plenty of cryptocurrencies trading at relatively low levels that could drop further. And we’ve seen our share of collapses by many cryptos recently. Accordingly, investors’ sentiment towards this sector remains extremely bearish.

These digital assets are among the most risky securities that investors can hold. Due to the Federal Reserve’s rate hikes, there’s plenty of uncertainty about when liquidity will return to markets. As a result, for assets like crypto that are sensitive to liquidity shortages, this is a particularly worrisome time.

Making matters worse, the crypto sector has suffered a number of self-inflicted wounds. Specifically, the failures of several large crypto companies — including FTX, BlockFi, Voyager, and Celsius — have greatly undermined trust in the sector.

That said, there are plenty of cheap cryptos to buy for long-term investors. If stock markets rebound, crypto prices could really take off. Here are three top cryptos for risk-tolerant, long-term investors.

DOT-USD	Polkadot	$5.37
ADA-USD	Cardano	31 cents
MATIC-USD	Polygon	88 cents

Polkadot (DOT-USD)

One of the top tokens that has been underperforming of late, Polkadot (DOT-USD) remains on my list of cheap cryptos to buy right now. Despite a 6% dip last week, this token continues to trade around the $5 level. While not particularly cheap relative to other sub-$1 tokens, Polkadot’s low token price could attract many investors if the crypto sector regains momentum.

The crypto’s recent decline has outpaced the broader crypto market, which has only fallen around 4%. Much of DOT’s problems appear to be due to mass crypto dumping, spurred by the concerns about the sector that I outlined above.

Investors are generally withdrawing capital from the crypto market and searching for more defensive investments that are producing cash flows. That said, for risk-tolerant investors, Polkadot is among one of the top cheap crypto to buy.

I think this platform, which provides developers with ample freedom and support, could climb when the crypto sector turns around. Thus, while Polkadot is still declining, it may be a good token to buy when the sector bottoms.

Cardano (ADA-USD)

Among the cheapest cryptos to buy is Cardano (ADA-USD), which is trading at a price of around 30 cents per token. For those looking to buy 10,000 coins of a single crypto, Cardano is a top-10 crypto worth considering.

When I last wrote about this token, there were more than 6 million native assets on its network. Now there are more than 7 million native tokens on this network. Whether it’s non-fungible tokens (NFTs) or native assets created using a CLI node, Cardano provides a leading marketplace for interchangeable tokens.

Cardano is currently dirt cheap, relative to its previous bull-market high. Thus, for those who think the next bull market is around the corner, this may be the time to buy Cardano. This crypto provides a relatively secure, sizable network. Accordingly, developers’ interest in Cardano is still high relative to its peers.

Polygon (MATIC-USD)

Polygon (MATIC-USD), a prominent Ethereum (ETH-USD) scaling platform, remains among the best cheap cryptos to buy for long-term investors.

Polygon has plenty of near-term catalysts. The upcoming Surge upgrade of the Ethereum network, expected to occur in 2023, could help Polgyon. It’s expected that Polygon’s network will become more efficient as a result of this upgrade. And following the change, users will see better scalability without a reduction in decentralization.

Additionally, Polygon has been partnering with a number of notable corporations and institutions. Among the network’s notable partners are Disney (NYSE:DIS), Nubank and Starbucks (NASDAQ:SBUX).

And Polygon has inked a deal with Nike (NYSE:NKE), which is looking to launch its own NFT marketplace. This marketplace, which will be called Swoosh, will be based on Polygon’s infrastructure.

Polygon’s user and transaction numbers continue to grow. However, like all tokens, it’s only appropriate for risk-tolerant investors at this point.

On the date of publication, Chris MacDonald has a position in Ethereum. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.