With all the ongoing online discussions regarding penny cryptocurrency, it is fairly safe to bet that nearly everyone on the internet is aware of these digital assets. That being said, there is still not enough depth to folks’ knowledge regarding the lofty realms of the Cryptosphere.
It’s a whole hyper-universe out there – with, sometimes, elements of virtual reality thrown in! The vast majority of developers and promoters are upright, conscientious professionals looking to develop the Cryptosphere into something even more tangible and palpable.
Ingenious frameworks are proposed every now and then, and there are feelers sent to governments asking for approbation and even regulation. You must cast out bad apples. Let’s make the most of the web by investing in Top Penny Cryptocurrencies in 2022.
What is Penny Cryptocurrency?
Penny cryptocurrency is a term used for any digital currency that has a small unit value. For example, a penny cryptocurrency might be worth one one-hundredth of a US dollar, or one-thousandth of a British pound.
Penny cryptocurrencies are often considered more accessible to new users, as they offer a lower entry point into the market. This can be appealing to those who are looking to invest in digital currencies but are hesitant to put a large sum of money into a currency that may be unstable.
Penny cryptocurrencies are also often seen as a more stable investment than some of the more well-known currencies, such as Bitcoin. This is because they tend to be less volatile, and are therefore less likely to experience rapid fluctuations in price.
What are the Benefits of Penny Cryptocurrencies?
There are a number of benefits to investing in penny cryptocurrencies. These include:
Lower risk: As mentioned above, investing in penny cryptocurrencies doesn’t take huge money to invest in. So, the chances of losing huge capital are relatively low in comparison to other cryptocurrencies. With lower risk and good returns, you can make the most out of the crypto market.
High Returns Potential – When a newly launched coin is a real price low, this is done to attract investors. Sales can rise on the basis of strong fundamentals. After reading up on your fancied coin, it is prudent to take steps that would allow you to stay ahead of other investors. portfolio diversification – The volatility that characterizes the cryptocurrency market is one sure reason why you should diversify your portfolio. Granted, your blue-chip investment is generally extremely stable and reliable. However, there should be a buffer of smaller investments to protect you against imponderables. A diversified portfolio helps you most in times of volatility.
Passive income source – you can make money from dividends just by holding on to penny cryptocurrencies. Coins with solid fundamentals can reward you for your foresight.
How To Select The Best Cryptocurrencies?
You would do well to be mindful of the following factors when you start going about selecting the best cryptocurrencies.
- The supply should be more than ten million units, 25% of it being already mined.
- Market capitalization ought to be over $20m, while the daily trading volume has to exceed $1m;
- The penny cryptocurrency should be listed on a credible exchange;
- Percentage gain for the preceding week should be at least 50%.
Such metrics deserve periodic study; the penny cryptocurrency should be easy to find on social media and be transparent in its dialogue with prospective clients.
Where To Buy Penny Cryptocurrencies?
As a rule, investors trade cryptocurrencies at penny cryptocurrency exchanges.
Let your investment strategy be in sync with these platforms. Regardless of if these are fiat-to-crypto, crypto-to-crypto, decentralized or centralized, you can factor in all features and still move towards your objective.
Sometimes it happens that your range of obscure tokens is not available on a given exchange. So that you may not have to waste precious time locating reliable exchanges, may we suggest Bittrex and Binance? InvestBy, Etoro, Primefin can give you helpful guidance in the matter of penny cryptocurrencies investments.
Besides a raft of excellent security measures, these are certain to have the same cryptos you wish to trade.
Cryptocurrencies are becoming increasingly mainstream. As interest accumulates on a server, there’s a likelihood it is totaling up to a respectable amount.
List of Top Penny Cryptocurrencies to invest in 2022?
We will consider several affordable cryptocurrencies, have strong fundamentals, come with a credible white paper, have community support, and have great teams managing them. They are Decentraland/Mana, BAT/Basic Attention Token, Loopring, Harmony, and Wax.
VeChain
VeChain is a blockchain-as-a-service platform aimed primarily at businesses looking to use the Internet of Things to combat counterfeiting. During commerce, it leverages IoT to track and offer proof of authenticity for goods and services.
Every product is identified by a unique code that allows for tracking on the blockchain, allowing a merchant or consumer to learn where, when, and how the product was made and other details about the manufacturing process. Clients can also use the system to track products in transit to know where they’re going during shipping, for example.
Chillz
Chilliz is a blockchain platform that consists of two additional platforms: socios.com and tokens. It’s a team crowd management software that allows users to cheer for their favorite teams while also assisting in decision-making.
These team supporters can also vote or exchange value using the platform’s fan tokens. The tokens also serve as loyalty cards, allowing users to receive discounts on items and exclusive events.
Token ownership entitles users to save when purchasing items, receiving awards and interacting with the APP. Fan Tokens, CHZ, Locker Tokens, and NFTs are among the tokens supported on the site.
Steller
The remittance and borderless money transfer industries have all identified use cases for Stellar Lumens and penny crytocurrency XLM. Stocks may be transferred securely, quickly, and reliably worldwide using the platform.
The penny cryptocurrency serves as a low-cost, instant cross-border payment option, while the platform allows anyone to issue tokens via ICOs or token fundraising, just like Ethereum.
If you want to invest in tiny cryptocurrencies, search for ones that have real-world uses, such as Stellar, because their value grows over time.
Dogecoin
Dogecoin is known as the king of meme currencies. It was introduced as a fork of Litecoin, which was itself a fork of Bitcoin. Its name comes from the Shiba Inu dog breed from Japan. It employs the same proof-of-work mining algorithm as Bitcoin.
Dogecoin outperformed Bitcoin by lowering the confirmation time for each block to one minute. Aside from its popularity as a tipping coin, it is also utilized as a payment token on a variety of platforms. In fact, it rose to prominence as a free-tipping penny cryptocurrency before making its way into the mainstream.
Given its ever-growing community and use as a payment token by well-known corporations like Tesla, it is becoming one of the most popular penny tokens and crypto to invest in.
Basic Attention Tokens (BAT)
The Basic Attention Token, or BAT, is a penny cryptocurrency based on the Ethereum blockchain that touts itself as a cost-effective way to advertise online. Brendan Eich, a co-founder of Mozilla Firefox and developer of the JavaScript programming language, created it as a platform token for the Brave browser.
It aids in the distribution of ad revenues among advertisers and publishers. In addition, when using the Brave browse, readers can get compensated for watching commercials without having their privacy invaded by intrusive adverts.
Content publishers can also charge for advertising and publication. In February, the browser surpassed 25 million monthly active users, despite the fact that the euphoria around the usage of such platforms for publication has subsided.
Zilliqa (ZIL)
The Singapore-based company Zilliqa employs sharding as a scaling tactic to increase the transactions per second. To ignore a node from contriving a block, each shard is limited to 600 nodes.
Academics and entrepreneurs appointed the blockchain at the University of Singapore. Although the boundation is ideally endless because it depends on the nodes, which might be endless, it was claimed to be capable of supporting 2,828 transactions per second in 2019.
There are numerous reasons why this penny stock could be a good investment this year. First, out of the 21 billion maximum supply restrictions, 14.9 billion are now in circulation.
REEF Finance
Reef acts as a unifying force for all blockchains, resolving issues such as DeFi users needing to transfer their orders across numerous platforms due to limited liquidity on each of them.
Reef allows users to seamlessly stake, acquire, and manage their penny cryptocurrency. It was introduced in 2019 and will be launched in September 2020 on the Polkadot blockchain. In 2020, it was included in the Binance Launchpool, allowing it to be used on the Binance Smart Chain.
On the Polkadot blockchain, it is a DeFi protocol. It works as a liquidity aggregator and a yield engine for multiple chains. Users can use any DeFi service available on any of the various platforms supported by Reef without generating separate accounts for each one.
Reserved Rights (RSR)
Reserve Rights reduces the volatility of stored value by employing a USD-pegged stable coin, the RSV, at a 1:1 ratio, albeit the stable currency is itself reinforced by other digital assets on the platform.
The system, which is based on the Ethereum blockchain, allows numerous fiat networks to operate independently. The protocol keeps the token steady by repurchasing it if its value falls below that of the dollar and by selling it to arbitragers to reduce demand if its value rises above that of the dollar.
Binance
Binance began as a centralized penny cryptocurrency exchange in 2017 and has since grown to be the currency exchange in terms of daily trading volume.
Today, the company also administers the Binance Chain blockchain, which hosts a variety of projects and apps. Binance DEX, a decentralized exchange application for Binance, is supported by Binance Chain.
It has a token called BNB, which is used to pay for gas fees and facilitate the exchange of token values on both controlled and decentralized exchanges.
Coinbase
By trade volume, Coinbase is one of the largest centralized exchanges. It has been in operation since 2012, and its custodian services allow individuals, groups, and institutions to use cryptocurrencies and digital assets.
The platform now allows users to purchase and sell crypto for fiat, in addition to crypto-to-crypto exchange. PayPal, ACH, bank wire, credit, and debit cards are all examples.
Coinbase, like Binance, has hundreds of cryptocurrencies and tokens available to trade. It is properly regulated as well. The UI is simple to use, despite the exorbitant fees and the fact that users do not have control over their wallet keys. It’s also extremely liquid.
Decentraland/Mana
This is among the most efficient platforms developed within the ethereum blockchain matrix. Mana enables clients to purchase, build, and monetize virtual reality applications. In the first week of March 2021, Decentraland/Mana reached an all-time high at approximately 45 cents.
It had grown up to 355% the preceding financial year. While Decentraland is basically a virtual world open for exploration by our humanoid avatars, Mana is the penny cryptocurrency that makes the digital world turn. MMORPGs or Multiplayer online role-playing games give a good inkling of what a virtual world like Decentraland would look like.
Conclusion
There’s every reason to believe there will be a regulatory framework for cryptocurrencies soon. Top penny cryptocurrency will be significant when that eventuates. You would be ‘in the money. Folks who are investing in crypto ETFs are doing so for excellent scenic reasons. There will come a time when small investments will result in high returns. For a 100%+ ROI, you just can’t beat penny cryptocurrencies. And broker will get you there faster than most if you want to trade penny cryptocurrencies.
If you’re looking for fractional or penny cryptocurrency to invest in, Binance and Coinbase have been thoroughly tested and are good fractional penny cryptocurrencies. Go and trade penny cryptocurrencies with the help of scam-free brokerage firms like InvestBy.
