In the last year and a half the cryptocurrency community has exploded. This time three years ago the total crypto market cap was only 6.2 Billion. As of today, the market cap sits at over 200 Billion! Regardless of this extreme growth, there is still plenty of room for the market cap to move. These “Penny Cryptocurrencies” have huge potential for growth. In this Scribble we aim to get to the bottom of the question: What is the best cheap cryptocurrency?

Let it be known that when we discuss cheap in this article we are discussing market cap, not price. While 1 Litecoin currently has a price of about $51 and 1 EOS around $5.31, the market cap of Litecoin is only 3 Billion, as compared to EOS’ of around 4.8 Billion. Therefore, Litecoin is the cheaper cryptocurrency. So what are some of the best low cap cryptocurrencies right now?

Storj

Storj is a very interesting project focused on decentralizing data storage. The technology boasts client-side encryption to better ensure that data shared on the network is secure and private. The group behind it also claims using the platform will be 1/3rd the price of traditional cloud storage solutions. The software is set to launch in 2019.

Upfiring

Upfiring is another massively undervalued cryptocurrency we think worthy of a look. The concept of Upfiring is similar to Storj in that it seeks to decentralize resource sharing. The execution and niche of the projects, however, are different. While Storj focuses on general personal computing data, Upfiring seeks to decentralize and incentivize the seeding side of the torrenting industry. Bittorrent, the most popular torrenting protocol in existence boasts hundreds of millions of users. However, the technology behind Bittorrent doesn’t address the need to incentivize file seeders, thereby creating a discrepancy between the number of users looking to download torrents vs those that are uploading them.

Request Network

Request seeks to change the way be pay each other. While peer-to-peer payments is certainly not unique to Request, it’s the teams ability to execute that makes this project so interesting. Additionally, the payment system operates on a “push” basis rather than a “pull” one, meaning the payments receiving party doesn’t need to share information to accept a payment. The project has indicated a focus on B2B transactions as a significant use case for their network.

Quantum Resistant Ledger (QRL)

Quantum Resistant Ledger is exactly what it sounds like it is. It is a decentralized ledger that is protected from quantum computing. While quantum computers do not yet exist, if they were to be created most the cryptocurrencies that currently exist would become “hackable”. QRL’s team appears to be qualified and has been chipping away at the task for over a year.