As the value of the naira continues to struggle against the dollar, currently exchanging at over N500 at the black market, thus making it expensive for Nigerians to invest in cryptocurrency, there are more than a hundred cryptocurrencies in the market and each has its own reason to invest in them.
But just like the stock market, the crypto market is volatile too. So, to make smart investments, here are the cryptocurrencies that are worth investing in to minimize the risk, trading at less than $1
- VeChain (VET)
VeChain offers supply chain solutions that utilize blockchain technology. The token holds a market cap of about $8 billion. VeChain improves supply chain efficiency, transparency and security, offering strong incentives over traditional supply chain management systems.
VET price today $0.13
- Ripple’s XRP
Ripple is a payment platform that allows for cross border, real-time gross settlement (RTGS) that enables instant monetary transactions globally. Ripple aims to compete with the likes of SWIFT which currently offers this kind of service to banks. Ripple’s XRP is created to be a speedy, less costly and more scalable alternative to other digital assets and monetary payment platforms.
There has been a lot of controversy surrounding Ripple. They are currently in a court case with the United States Securities and Exchange Commission (SEC) but are, so far, tipped to win the case. The CEO of ripple, Brad Garlinghouse, confirmed Ripple’s plans to go public after the firm resolves its case with the SEC. A settlement or even a dismissal is to be expected soon which should do well for the price of XRP.
XRP is currently trading at $0.86
- Stellar Lumens (XLM)
is the largest cryptocurrency on this list with a market cap of $8.8 billion. Stellar Lumens works with banks to process cross border transactions at extremely low transfer costs. The protocol is similar to Ripple XRP and has gained investors’ attention after recent lawsuits against its biggest competitor, Ripple.
The coin is currently trading for $0.38
- Decentraland (MANA)
is the token that powers the blockchain-based virtual reality game Decentraland. The game lets users buy, sell and monetize virtual reality land, and some properties on the game have sold for north of a million dollars.
The token is currently trading at $0.80
One of the oldest and most popular cryptocurrencies, BitTorrent has more than 100 million users to date. The technology behind BitTorrent allows content developers to interact with their audience, allowing them to earn and spend this cryptocurrency without third-party involvement. There talks going around that BitTorrent and Tron will start a new venture, which is hyping the value of this digital coin.
BitTorrent price today: US$0.425