5 Best Cheap Crypto To Buy Now Under 1 Dollar in September 2023

Cost-effectiveness is one of the things investors consider when they decide to purchase digital assets. Our previous lists of the best cheap cryptos to buy have covered such tokens.

Cheap altcoins come in handy when the prices of some cryptos are going up and are too expensive to purchase. 

The cryptocurrency market started the week with significant losses, with Bitcoin’s price dropping below $25,000 for the first time since mid-June. These losses were driven by concerns surrounding the bankrupt cryptocurrency exchange FTX, which was expected to start selling off its digital assets, including over $500 million worth of Bitcoin.

5 Best Cheap Crypto To Buy Now Under 1 Dollar in September 2023

While Bitcoin was consolidating, the broader cryptocurrency market displayed signs of weakness. Several market indexes, which monitor the performance of a diverse range of digital assets, saw a modest gain of 0.8% over the past week. 

In contrast, the Bitcoin Price Index outperformed, registering a 1.7% increase in its value during the same period. This increase indicates that Bitcoin was relatively stronger than other cryptocurrencies during that week.

1. Storj (STORJ)

Storj, pronounced as “storage,” is an open-source cloud storage platform that operates on a decentralized network of nodes to host user data while ensuring robust security through advanced encryption.

The concept of Storj was initially introduced to the public in a white paper published in December 2014. This concept aimed to create a decentralized, peer-to-peer, and encrypted cloud storage platform.

Two years later, an updated white paper outlining a decentralized network connecting users needing cloud storage space with individuals willing to rent out their hard drive space was released. The platform itself was launched in late 2018.

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Participants with available hard drive space and reliable internet connectivity can join the Storj network as nodes. These nodes play a crucial role in the network by providing storage capacity to users. In return for their contribution, space providers are rewarded with Storj tokens, the native cryptocurrency of the Storj platform. This rewards system incentivizes node operators to continue participating in the network and offering storage resources.

2. Worldcoin (WLD)

The Worldcoin project is driven by the mission to establish the world’s largest identity and financial network, treating it as a public utility accessible to all individuals, with the ultimate goal of granting ownership to everyone.

Central to the Worldcoin system is World ID, a privacy-centric global identity network. This innovative technology enables users to verify their identity online in a privacy-preserving manner, employing techniques like “Proof of Personhood” while ensuring the security of their personal information through zero-knowledge proofs.

To interact with the Worldcoin protocol, individuals must download the World App, which serves as the initial wallet app supporting the creation of a World ID. Individuals visit a physical imaging device called the Orb to complete the World ID verification process. These Orbs are typically operated by a network of independent local businesses known as Orb Operators. Utilizing multispectral sensors, the Orb verifies the user’s identity and uniqueness, with all images being promptly deleted on the device by default unless explicit consent for Data Custody is given.

Individuals who possess Orb-verified World IDs can claim recurring grants of free WLD tokens (please note that WLD tokens are not available in the US; refer to the Worldcoin Tokenomics section of the project’s whitepaper for further details). This approach could make WLD one of the world’s most widely distributed digital currencies.

The WLD token is designed as a utility token with governance features, empowering users by giving them a voice in shaping the protocol’s future. In addition to traditional “one-token-one-vote” governance mechanisms, World ID introduces the concept of “one-person-one-vote” mechanisms. These two mechanisms can be combined to create novel approaches to governance. After the project’s launch, the Worldcoin Foundation intends to seek input from the community and collaborate on defining how World ID and the WLD token should interact within Worldcoin’s governance model (consult the…