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Cryptocurrencies. Source: howtogeek.com

Binance Coin, 3 Other Cheap Cryptocurrencies To Help Grow Your Wealth In 2023

2 years ago
2 mins read

In the last decade, the Cryptocurrency industry has positioned itself among investable assets that could grow wealth. The quest that started in 2009 through the creation of bitcoin, has now birthed other wealth-building innovations.

Today, the crypto market is rubbing shoulders with Gold, Stocks, and other traditional assets, as people are able to make their money work for them by investing in the likes of Bitcoin, Ethereum, and Binance Coin, amongst many cryptocurrencies. 

Due to the shift from traditional assets to the embrace of new wealth creation, the major crypto assets; Bitcoin and Ethereum have been trading out of reach for many interested middle-income and low-income earners. 

With the asking price of Bitcoin and Ethereum hovering above $16,663.16 and $1,211.33 respectively as at the time of filing this report, your sight must now be turned to those with lower prices but in the top ten cryptocurrency list. 

  • Dogecoin 

The meme coin is one of the most popular but cheap digital coins in the cryptocurrency market. It currently trades at $0.069. 

This low price creates an opportunity for persons looking to grow their wealth by starting small, considering the cryptoasset was valued at $0.72 in May 2021. 

If you are thinking of buying this crypto, know that you are not alone, as the former world’s richest man, Elon Musk, disclosed in 2022 that his carmaker firm, Tesla, also owns Dogecoin. 

Although the gains of Dogecoin can’t be equated to that of Bitcoin or Ethereum, it also has another use case, such that it can be used to buy Tesla merchandise. 

This means when the small portion you invest in Dogecoin rises in value after a long period, you can use it to purchase some Tesla products. 

  • Solana 

Solana is a household name in the cryptocurrency industry, with a tendency of serving as a store of value for your money or a wealth builder. 

In the last 24 hours, the digital asset is trading up by 17.41%, with a value of $13.21, which is viewed as a dip bearing in mind that it was worth about $258 in November 2021. 

The decline enables you to invest at a low before Solana hit another peak period of over $200, unlocking the financial benefits when the crypto winter fades away. 

Due to its potential, Solana, which was founded by software engineer Anatoly Yakovenko in 2017, has been described as a rival to Ethereum. 

  • Cardano 

Cardano was created eight years after Bitcoin was launched. While it hasn’t achieved the feat of BTC, Cardano’s acceptance in the cryptocurrency industry has pushed it into the top ten most capitalised cryptocurrencies. 

The cryptoasset trades around $0.25, but it use to hover above $2 in September 2021, which means Cardano has growth potential that could improve investment in the long run. 

According to CoinDesk, Cardano is billed as a third-generation blockchain, following Bitcoin and Ethereum, which were the first- and second-generation blockchains.

  • Binance Coin 

Created by Zhao Changpeng, Binance Coin is the digital token offered by the world’s largest cryptocurrency exchange, Binance.

Buying a Binance Coin is like buying a share of Binance Exchange, but it doesn’t give the acquirer a right of ownership to the crypto company.

In May 2021, the price of Binance Coin was $686.31, however, interested investors can now buy the cryptoasset at a cheaper rate before it triggers a bullish run, as it currently trades at $245. 

While its rival, FTX was not able to withstand the crash in crypto industry last year, Binance Coin has grown into one of the most sought-after cryptocurrencies. 

Side note: While the gains of these cryptocurrencies might not look significant note that before Bitcoin hit $16,000, it was also hovering above just one dollar before BTC’s acceptance grew. 

For someone looking to create wealth without increasing workload, positioning is all that matters, the reason why persons that invested in BTC in its early years gained significantly when it hit over $68,000 in November 2021. 

But regardless of how little or significant the gains might look to you, it is advised to invest with caution, as cryptocurrencies are known to be very volatile. This means your investment could be at constant risk.


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