If you’re looking into buying crypto, there is still plenty of potential to make it big in 2023. Right now many of the largest cryptocurrencies can cost a lot to get started, and many of these coins are worth their weight in gold – as a prime example, Bitcoin is worth over $40,000 per coin!
So why not go small and make it big? You don’t have to break your budget by investing in crypto coins – at least not anymore. And with the right coins, you can make an incredible amount when these coins become the next big thing. By investing in the top 5 best cryptos under $5 in 2023, you can scale up as the coin grows and make a profit, while still being able to invest in crypto on a budget.
Also, if you’re still on the hunt for a great crypto exchange, we’ve got 5 of the best to check out right here.
Current State of Crypto Market
Investing in cryptocurrency has by no means run its course. People are still making millions off the crypto market, and you can easily do that, too. With crypto, though, the scalability of the coin is extremely important as well.
So, what are you looking for? Well, ideally you want to incorporate several factors into your coin assessments, including the scalability of the coin, your budget, future predictions, the ATH, the ATL, and the ever-important APY of the crypto.
The Best Crypto Coins Under $5 Dollars In 2023
Let’s be honest – not everyone can buy big on crypto. Sometimes, you must start small and work your way from the ground up. Because of that, setting a budget for the coins you buy can be extremely important. For one, it can let you realistically assess how much money you want to invest, as well as the scale of your investment.
Another reason why it can be important to buy cheap coins under $5 dollars is that this usually means the coin isn’t tremendously popular or mainstream yet. Because of this, it gives you a chance to “make it big” with that coin. Keep in mind that at one time, Bitcoin was a “budget coin” as well. And now look at it, the largest crypto on the market. This should show you the potential of these 5 budget coins.
Coin 1. Cronos
The first coin you should consider on your quest for a budget crypto for under $5 is the official coin of Crypto.com! This coin, known as Cronos (CRO) is currently priced at around $0.38 – and although this is a dip from its ATH price of roughly $0.80, the coin has still nearly reached a 4x price compared to its value near the end of 2021.
Because of this, and the fact that Crypto.com is a well-known and highly ranked crypto exchange, the Crypto.com coin is poised as a very strong player in the future crypto market. Investing now for pennies on the dollar might come back strong later with this powerful crypto coin.
Another important fact to note is that the Crypto.org chain has pledged to become carbon negative by 2023, which means that for those of us who are concerned about the environment or may be environmentally savvy, this coin isn’t holding anything back. In fact, it could be a plus for the environment as compared to other coins!
Coin 2. Enjin
Currently priced at a little more than a dollar ($1.3), the Enjin coin (ENJ) earns its spot on this list. The ENJ coin is an ETH-based utility coin that is used primarily on the Enjin NFT exchange.
With a market cap of roughly $1.2 billion, this crypto is used to back NFTs, but could prove a useful investment to any crypto investor looking to get started on a budget. Keep in mind that this coin’s worth is tied to the Enjin market, and Enjin is a revolutionary NFT platform that looks like it may have success in the future for a long time. This means that if Enjin succeeds, then the ENJ coin will succeed.
Coin 3. Shiba Inu
Next up, we have one of the more famous “meme coins” which has taken on a life of its own and now exists as a genuine, potential investment for many crypto buyers. This coin is incredibly cheap – a percent of a percent of a cent – barely anything in comparison to the other two coins listed here.
Having said that, there is speculation this coin may very well be a project noteworthy of investment in the future and may scale to be worth much more than its current price in the long run.
Coin 4. Decentraland
The Decentraland (MANA) coin is currently worth $1.85, making it a reasonable investment below the five-dollar limit. Based on the ETH blockchain, the MANA coin is used within Decentraland’s 3D browser-based world to buy land plots, NFTs, and more.
Having only started in February of 2020, Decentraland shows immense promise for future growth and can easily be an incredible investment for the beginning crypto enthusiast.
Coin 5. XRP
The XRP coin is currently priced at $0.64. Although XRP is not extremely well known outside of the crypto investment world, this coin has had an incredible increase in price beyond its initial starting price.
In 2016-2017, XRP was worth roughly only $0.01 and fluctuated around that price. Since then, of course, XRP has gained massively, becoming worth anywhere from $0.64-09.73 with a market cap of roughly 31 billion dollars.
Top 3 Crypto Exchanges
Now that you know what coins to buy on a budget, you need a place to buy these coins from. Because of this, the beginning crypto investor needs to use something called a crypto exchange. Essentially, these crypto exchanges are ways to purchase and convert currencies, so you can easily start investing in crypto on a budget.
Although there are many crypto exchanges, there are some exchanges that are better than others. Because of that, here’s a list of the top 3 crypto exchanges you can use to buy, sell, and trade your crypto. Keep in mind that these crypto exchanges differ in several factors, but all of these can be beneficial in one way or another.
1. Binance US
Binance US is a cryptocurrency exchange for U.S. residents that allows users to buy, sell, and trade supported cryptocurrency. Binance US also offers “staking,” or lending of several cryptocurrencies, paying users interest for lending their crypto assets. They have a wide list of cryptos available and super low trading fees. You can get started on Binance US here.
Pros
- Great looking interface on desktop & mobile
- Beginner friendly
- Low trading fees
Cons
- Fewer crypto-to-crypto currency pairs than global Binance site
2. Uphold
Uphold is considered to be one of the safest ways to buy cryptocurrency by many digital asset experts. Since launching in 2014, Uphold has maintained an exemplary reputation for security among its customers. The site is unique in the sheer amount of assets it offers. You can get started on Uphold here.
Pros
- Available in more than 180 different countries
- Transactions sent between Uphold users are completely free
- Huge list of cryptos available
Cons
- Fees are unclear in certain buy and sell spreads
3. Crypto.com
If you’re looking for an affordable, all-in-one cryptocurrency platform, Crypto.com might be right for you. The more Cronos (CRO) you’re able to stake, the more benefits you’ll get from this exchange. They also have a huge list of cryptos available. You can get started on Crypto.com here.
Pros
- Wide list of crypto available
- Low trading fees
- Staking available
Cons
- Lack of educational resources
Final Thoughts
Overall, crypto has been a market primarily dominated by large investors ever since the original onslaught of cryptocurrencies. With, crypto is by no means restricted to those larger investors. Because of this, small coins with the potential to become big are springing up all the time, and it’s important that investors in cryptocurrencies pay attention to the market to find these budget cryptos and invest in them.
So, what’s stopping you? Power up the crypto exchange of your choice and start buying some of the top 5 best cryptos under $5. These cryptocurrencies are sure to not break your wallet but give you the potential to make it big in the crypto world with a little investment.
