12 Cheapest Cryptocurrencies to Buy in 2024

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The cryptocurrency market has weathered significant volatility in recent years, but 2024 is shaping up to be a pivotal year for digital assets. With Bitcoin's upcoming halving event expected in April, investor sentiment is turning bullish, and attention is shifting toward affordable altcoins with high growth potential. While blue-chip cryptocurrencies like BTC and ETH dominate headlines, many low-priced tokens offer compelling value propositions, innovative technology, and strong community support.

This guide explores 12 of the cheapest cryptocurrencies to buy in 2024—tokens priced under $1 that combine affordability with real-world utility, scalability, and long-term promise. Whether you're a seasoned investor or new to crypto, these projects represent accessible entry points into the evolving blockchain ecosystem.

Kaspa (KAS)

Kaspa stands out as one of the most promising low-cost Layer 1 blockchains in 2024. Built on a BlockDAG (Directed Acyclic Graph) architecture, Kaspa addresses the long-standing scalability issues plaguing traditional blockchains like Bitcoin and Ethereum. By leveraging the GhostDAG protocol—a proof-of-work consensus mechanism—it achieves rapid transaction finality without compromising security.

One of Kaspa’s defining features is its ability to process one block per second, with plans to scale up to 100 blocks per second following a migration from Go to Rust, a high-performance programming language. This makes it one of the fastest PoW networks in existence.

Unlike Bitcoin, which functions primarily as a store of value, Kaspa is optimized for everyday transactions. Its stateless client design allows even low-end devices to run full nodes, promoting decentralization and accessibility.

Kaspa also introduces a unique "chromatic phase" emission model, where block rewards decrease geometrically based on a 12-note musical scale. This creative approach to tokenomics adds scarcity and predictability to supply distribution.

👉 Discover how fast, scalable blockchains are reshaping crypto investment strategies.

Cardano (ADA)

Launched in 2017 by Ethereum co-founder Charles Hoskinson, Cardano is a third-generation blockchain grounded in academic research and peer-reviewed development. Named after Ada Lovelace, the world’s first computer programmer, ADA empowers holders to participate in network governance through voting.

Cardano operates on a proof-of-stake (PoS) consensus mechanism called Ouroboros, which is energy-efficient and highly secure. The platform supports smart contracts, decentralized finance (DeFi), NFTs, and enterprise-grade applications.

After the successful Shelley upgrade in 2020, Cardano became significantly more decentralized. Ongoing developments aim to enhance interoperability and scalability, positioning it as a long-term player in the blockchain space.

VeChain (VET)

VeChain focuses on real-world enterprise applications, particularly in supply chain management, logistics, and sustainability. The platform uses blockchain to improve transparency, traceability, and efficiency across industries like food safety, pharmaceuticals, and carbon tracking.

A dual-token system powers VeChain:

This model incentivizes long-term holding and allows users to earn passive income. VeChain has partnered with global corporations such as Walmart China and BMW, validating its commercial viability.

Dogecoin (DOGE)

Originally created as a meme in 2013, Dogecoin has evolved into a legitimate digital currency with widespread adoption. Backed by high-profile advocates like Elon Musk, DOGE gained credibility when Tesla briefly accepted it for merchandise.

While it lacks advanced smart contract capabilities, Dogecoin thrives on its vibrant community and use as a tipping currency on social platforms. Its inflationary supply model (no hard cap) differentiates it from deflationary cryptos.

Despite its playful origins, DOGE remains one of the most recognized and liquid meme coins in the market.

TRON (TRX)

TRON aims to decentralize the entertainment industry by giving creators direct control over content distribution and monetization. Built on the TRON Virtual Machine (TVM), the network supports dApps and smart contracts.

TRON hosts the largest volume of USDT (Tether) transactions globally, underscoring its role in stablecoin circulation. Its high throughput and low fees make it ideal for gaming, social media, and DeFi applications.

With a focus on scalability and developer adoption, TRON continues to expand its ecosystem across multiple chains.

Polygon (POL)

Formerly MATIC, Polygon is a leading Layer 2 scaling solution for Ethereum. It tackles congestion and high gas fees by processing transactions off-chain before settling them on Ethereum.

Polygon’s modular SDK enables developers to build custom blockchains and dApps with ease. With support for multiple execution layers—including zkEVM and optimistic rollups—it’s evolving into a multi-chain hub.

The upcoming Polygon 2.0 upgrade will transition the network into an interconnected set of chains powered by the POL token, enhancing scalability and interoperability.

👉 Learn how Layer 2 solutions are driving the next wave of blockchain innovation.

Sei (SEI)

Launched in August 2023, Sei is a Layer 1 blockchain optimized for decentralized trading. It tackles the "Trading Trilemma"—balancing decentralization, scalability, and capital efficiency—with cutting-edge technology.

Sei features a native matching engine, front-running protection, and built-in price oracles, making it ideal for DEXs. It claims to be the fastest blockchain for trading, with sub-second block finality.

By minimizing miner-extractable value (MEV), Sei ensures fairer trade execution—critical for trustless exchanges.

PancakeSwap (CAKE)

As one of the most popular decentralized exchanges (DEXs), PancakeSwap offers token swaps, yield farming, staking, and prediction markets across multiple chains including BNB Chain, Ethereum, and Arbitrum.

In 2023, PancakeSwap introduced “Ultrasound CAKE,” a deflationary model that burns more tokens than are minted weekly—leading to a shrinking supply. Additionally, CAKE holders voted to reduce the max supply from 750 million to 450 million tokens.

These changes aim to increase scarcity and long-term value accrual for token holders.

Stellar (XLM)

Stellar has been a reliable player since 2015, focusing on fast, low-cost cross-border payments. Its native token, Lumen (XLM), acts as a bridge asset between different currencies.

With transaction fees as low as 0.00001 XLM, Stellar is ideal for microtransactions and financial inclusion in emerging markets. It also functions as a decentralized exchange with an integrated order book.

Stellar partners with financial institutions and payment providers worldwide, enhancing its real-world utility.

Shiba Inu (SHIB)

Born as a Dogecoin alternative in 2020, Shiba Inu exploded in popularity thanks to its meme appeal and active community. Though it started with an absurdly large supply—over 589 trillion SHIB—the project has evolved into a full-fledged ecosystem.

It includes:

Notably, Ethereum co-founder Vitalik Buterin burned 90% of his SHIB holdings and donated the rest to charity—boosting trust and reducing supply shock.

👉 See how meme coins are transforming into serious crypto ecosystems.

Hedera (HBAR)

Hedera uses Hashgraph, a distributed ledger technology that outperforms traditional blockchains in speed and security. Transactions finalize in under five seconds with fees averaging just $0.0001.

Capable of handling over 10,000 TPS, Hedera supports enterprise applications in identity verification, tokenization, and compliance-heavy sectors.

Endorsed by major firms like Google, IBM, and Boeing through its governing council, Hedera combines decentralization with institutional credibility.

Algorand (ALGO)

Algorand is a pure proof-of-stake blockchain designed for speed, security, and scalability. Since its mainnet launch in 2019, it has supported nearly a million daily transactions.

ALGO enables secure smart contracts and decentralized applications while maintaining low energy consumption. It’s used in government projects, CBDC pilots, and DeFi platforms globally.

Its predictable token emission schedule and strong institutional backing make it a solid long-term holding.

Frequently Asked Questions

What defines a "cheap" cryptocurrency?
A cheap cryptocurrency typically refers to tokens priced under $1. These assets often have large supplies but can still hold significant market value due to widespread adoption or utility.

Why invest in low-priced cryptos?
Affordable tokens offer high upside potential if they gain traction. They’re accessible for small investors looking to diversify without large capital outlays.

Is market cap more important than price?
Yes—market cap reflects true value by combining price and circulating supply. A low-priced coin with a tiny market cap may be riskier than one with broader adoption.

Can meme coins like DOGE or SHIB be profitable?
They can be volatile but have delivered massive returns during bull runs. Success depends on community strength and broader market trends.

What impact will the Bitcoin halving have in 2024?
Historically, halvings precede bull markets by reducing new BTC supply. Many expect increased investor interest in altcoins post-halving—a phenomenon known as the "halving effect."

Should I diversify across multiple cheap cryptos?
Diversification helps manage risk. Spreading investments across projects with different use cases—DeFi, infrastructure, payments—can balance exposure to market shifts.

Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. Always conduct independent research before investing in any cryptocurrency.