!-- TradeDoubler site verification 3249067 --> >

Top 10 Penny Cryptocurrencies to Invest In

If you’re looking for a way to invest your money and see some serious returns, you should consider investing in penny cryptocurrencies. As their name suggests, these digital currencies may be worth only a few pennies at the moment but have the potential to grow significantly in value over time.

In this article, we will discuss the best penny cryptocurrencies to invest in and explain how to choose the right ones. So whether you’re getting ready for the next crypto shopping spree or looking for more information before placing your first trade, read on!

Show more

Here’s the list of the best penny cryptocurrencies to buy in the second half of 2022:

 

  1. Cardano — Launched in September of 2017, this popular cryptocurrency allows fast and secure transactions. It is based on the Cardano blockchain technology.
  2. Tether — A stablecoin that first appeared on the scene in 2014. It is pegged to the US dollar, so you can trade it without worrying about volatility.
  3. Dogecoin — This is one of the favourite cryptocurrencies in the crypto community. It was developed as a joke, but its market cap has since grown to over £14.1 billion.
  4. Stellar — Created to facilitate fast and secure cross-border payments, Stellar is now one of the best cryptocurrencies on the market. It boasts low transaction fees and can be used to send money anywhere in the world.
  5. Binance Coin This crypto gained a lot of popularity due to the success of the Binance exchange. You can use it to pay fees on the Binance platform or purchase other cryptos to get a 25% discount on all trading fees.
  6. Coinbase Coin — This is the native currency of the Coinbase exchange. It allows users to save on fees when dealing on the Coinbase platform.
  7. Basic Attention Token — BAT is used by marketers, publishers, and advertisers to pay users for their attention on the Brave browser. Another reason you might want to purchase it is to use it to tip content creators.
  8. TRON — This is a proof-of-stake coin that has received much praise from the crypto community. It’s available on well-known exchanges such as Coinbase, FTX, and Binance. 
  9. VeChain — One of the top penny cryptocurrencies dominating the supply chain and logistics industry. It’s a native currency of the blockchain used to track items throughout the supply chain and ensure their authenticity.
  10. Chiliz — The best crypto for investors in the sports industry. Traders can use it to purchase non-fungible tokens (NFTs) and participate in fan-engagement programs.

Detailed Reviews

Cardano (ADA)
Cardano (ADA)

Eco-friendly investing

Visit Website
  • New but reputable cryptocurrency
  • Powerful and fast blockchain technology
  • Relatively stable cryptocurrency
  • Attractive investment in the crypto community

Soon after it first appeared on the crypto scene, Cardano became a staple in the blockchain industry. It is the first crypto under a penny based on the Haskell programming language, making it more stable and secure than other cryptocurrencies. Cardano has a bright future and is already being used by some major organisations, such as the University of Edinburgh.

Being a third-generation cryptocurrency is what sets Cardano apart from its competitors. It was founded on peer-reviewed research and aimed to solve some of the significant issues that previous digital currencies have faced.

The team behind Cardano is experienced and has a strong vision for the future of the currency. They are constantly working on improving the technology and expanding its use cases.

Cardano is a good choice for investors looking for a long-term investment. The currency has potential, and its price may go up to $50 (roughly £38.21) by the end of 2030.

Unfortunately, Cardano is currently undervalued, but that only means there is more room for growth. Keep in mind that now is the best time to buy Cardano, as the price is still low.

  • Often used instead of fiat currencies
  • Tied to the US-dollar
  • No fees for transactions between Tether wallets
  • Some traders earn interest on this crypto

Tether was one of the first stablecoins to appear on the market and has been around since July 2014. It is pegged to the US dollar, indicating its value will always remain close to $0.50 (£0.39).

Tether is a good choice for investors who want to store their value in large-cap tokens that are not subject to extreme volatility. Additionally, Tether can be used to hedge against other currencies.

Despite facing many issues in the past, such as allegations of fraud, Tether has remained a popular choice for investors. That is because it is one of the most stable and secure cryptocurrencies.

Tether is currently the third-largest cryptocurrency by market cap and is available on many major exchanges. What’s more, the Tether tokens can be stored in any wallet that supports the ERC20 standard.

The main advantage of Tether is its stability. However, this also means that it is not a good currency to invest in if you are on the lookout for high returns.

In other words, don’t get your hopes up if you’re chasing profit. Of course, you can make money from investing in this currency, but you should consider other options such as Bitcoin or Ethereum to generate higher returns.

  • Strong community
  • Excellent crypto for beginners
  • One of the most popular tokens on the market
  • A meme-based crypto

Although it’s based on the popular Doge meme, Dogecoin (DOGE) has become a serious player in the cryptocurrency industry. It was created as a joke but quickly gained a large following. Dogecoin is best known for its use on social media platforms, such as Reddit and Twitter. However, many traders use it for making payments and online purchases.

This cryptocurrency has a large and active community that is constantly working on improving it. So, if you are looking for a cryptocurrency with a bright future, Dogecoin is a good choice. What’s more, you can also mine it and earn lucrative rewards for each block mined. 

Still, one of the main reasons to invest in DOGE is that it employs SCRYPT in its proof-of-work algorithm, originally designed to be ASIC resistant. On top of that, SCRYPT is more energy-efficient and faster than Bitcoin and some other cryptocurrencies.

Most traders who have bought DOGE claim that this is an undervalued digital currency with the capacity to develop into something big and attention-worthy. It may have started as a mockery, but DOGE has managed to hold its ground and outperform some competitors. What’s more, it is likely to continue breaking new records in the future.

Stellar (XLM)
Stellar (XLM)

Quick money transfers

Visit Website
  • A history of excellent performance
  • Multi-currency support
  • An easy-accessible crypto
  • Low transaction fees

Stellar, also known as Stellar Lumens, is a solid choice for investors looking to purchase penny cryptocurrencies. It is able to handle cross-border payments with low transaction fees. While the price of Stellar is currently low, some crypto experts believe it could triple in value

Stellar cryptocurrency deserves more attention because it’s one of the best low-cost crypto projects in terms of technology. The Stellar network is incredibly fast and can process transactions in just a few seconds. Additionally, it is very scalable and can handle many transactions simultaneously.

Binance Coin (BNB)
Binance Coin (BNB)

Avoiding Binance fees

Visit Website
  • Utility token for Binance exchange
  • Offers fast transactions and low fees
  • Often used for in-store and online purchases
  • Safe currency for flights and hotel booking

Binance Coin is Binance’s native digital currency. Although it was initially created to be used on the Binance platform, you can now find it circulating on other platforms, including eToro.

Binance Coin was first launched on the Ethereum blockchain, and it has a maximum supply of 200 million. Still, it’s worth adding that Binance conducts quarterly burning of the BNB coin, as its primary goal is to cut the max supply in half.

This cryptocurrency is a good choice for investors who deal with digital currencies on the Binance platform. When paying fees on the Binance exchange, Binance users receive discounts. However, even if you favour other exchanges more or have never used Binance before, BNB is still a crypto worth having in your arsenal.

  • For institutional traders
  • Affordable currency
  • USDC could lead to investing in Coinbase stocks
  • Available on one of the best crypto exchanges

Coinbase is a well-known crypto exchange that allows users to buy and sell cryptocurrencies. Its native currency is USD Coin (USDC), which is best for use on the Coinbase platform. Still, the nature of this crypto allows its holders to use it as a form of legitimate online payment.

Coinbase Coin is a good choice for those who want to support the decentralisation of the cryptocurrency industry. By holding USDC, you can help to decentralise the Coinbase exchange.

Coinbase is listed on the Nasdaq stock exchange through an IPO (initial public offering), allowing investors to purchase its shares. It also supports staking, meaning that investors can earn rewards for holding the currency.

  • Supported by prominent brands
  • Has a massive following
  • Built by a team of experts
  • Innovative and attractive token

Basic Attention Token is a utility token explicitly created for use in the Brave Browser. Advertisers use it to purchase ad space.

BAT was developed by Brendan Eich, the creator of JavaScript and Mozilla Firefox. The token was launched on the Ethereum blockchain in 2017. The idea behind BAT was to create a cryptocurrency that could eliminate frauds associated with online advertising.

At the time of its execution, Basic Attention Token was one of the most successful initial coin offerings (ICOs), raising $35 (£27.27) million in just 30 seconds. Although it’s a penny cryptocurrency, and its value is currently low, you may find it valuable if you work with content creators or in the advertising industry.

You can store BAT in a wide range of wallets, such as MyEtherWallet or Ledger Nano S. When choosing a wallet to store your BATs, make sure it supports Ethereum-based transactions. Remember, you can always opt for a BAT wallet, a Brave-integrated wallet designed to hold this cryptocurrency.

TRON (TRX)
TRON (TRX)

Financing content creators

Visit Website
  • An ambitious project
  • Compatible with many hot and cold wallets
  • High transaction volume
  • Easy to invest in

TRON is a decentralised entertainment and content-sharing platform. The native currency of TRON is TRX, and you can use it to support asset trading on the network.

TRON works with some of the largest companies in the world, such as Alibaba, Samsung, and Game.com. It was founded by Justin Sun, the founder of the popular Peiwo app. 

Since TRON is a popular penny cryptocurrency, you have dozens of storage solutions to choose from, including Trezor, AtomicWallet, Ledger Nano S, and many more. Moreover, you can always opt for the official TRON Wallet, which offers convenience for everyone looking to trade with TRON.

But is TRON currency a good investment?

The answer depends on your investment goals. TRON isn’t the best-performing crypto out there, but it’s still a good choice for those who want to invest in a high-demand penny cryptocurrency. What’s more, its network is fast and has zero transaction fees, which is a significant advantage over other cryptos.

  • More influential than VeThor (VTHO)
  • Used for financial transactions on VeChainThor
  • A closed currency
  • Allows for market speculation

VeChain is a decentralised platform that helps businesses track enormous amounts of data. It focuses on business applications, with an emphasis on software solutions for the supply chain management. The platform has its native currency, VET, which is slowly growing in value as the network desirability and intensity of use increase.

The platform was founded in 2015 by Sunny Lu. However, it wasn’t until 2017 that the project really gained traction. VeChain cryptocurrency gained a lot of popularity after it was chosen by the Chinese government to develop a blockchain-based anti-counterfeiting system.

VeChain allows businesses to track their products and supply chains using blockchain technology. From what we’ve seen so far, it has a lot of growth potential. However, the currency is still relatively new, and it’s hard to predict its future.

Chiliz ($CHZ)
Chiliz ($CHZ)

Buying voting rights on Socios.com

Visit Website
  • ERC20 utility token
  • Widely used in the sports and entertainment industry
  • A profitable investment option
  • Strong use case

Chiliz is an Ethereum token that’s used to power the Socios platform. You can use it to purchase and trade Fan Tokens of your favourite teams from Socios.com.

Chiliz has had its ups and downs, but it always manages to recover and reach new heights. The token reached an all-time high in March 2021, and it’s currently one of the most popular penny cryptocurrencies.

If you’re interested in this token, you can purchase it on every leading crypto exchange, including Binance and Coinbase. You can then store it on the platform’s hot wallet or transfer it to more secure cold crypto storage solutions, such as MetaMask or AlphaWallet.

How to Select the Best Penny Cryptocurrency

While some investors choose to invest most of their money in popular cryptocurrencies like Bitcoin or Ethereum, most traders hold several different crypto assets. That is because distributing your investments can minimise the risk of losing everything if the market crashes.

That said, buying penny cryptocurrencies is an excellent way to diversify your investment portfolio and establish a balance between risk and reward. But, with so many options available, how do you know which ones are best to invest in?

There are a few things to consider when choosing the best penny cryptocurrency to invest in, so let’s discuss them.

What Do You Know About the Project’s Team?

Although many would consider this step unnecessary, it’s advisable to research the people behind the project you want to support. Are they experienced and trustworthy? Do they have a good track record?

A close examination of the project team will give you a good idea of whether or not the project is worth investing in. Additionally, it’s also a good way to gauge the project’s future potential. The team behind Cardano, for example, has a history of successful projects. That experience gives them an advantage over other teams.

What Do You Know About the Project’s Roadmap?

Every good project should have a clear roadmap. This will give you an idea of the team’s plans and what they hope to achieve in the future. Of course, some teams are more ambitious than others, so it’s crucial to find a team that’s neither too ambitious nor not ambitious enough.

Diving deeper into the project’s roadmap will give you a better idea of the potential increase in value. For example, many traders believe the VeChain cryptocurrency will become more valuable when the VeChain ecosystem attracts new users. Unfortunately, that won’t be the case with Chiliz, for instance.

Is the Community Active and Supportive?

A large and active community is always a good sign. It shows that people are interested in the project and are willing to support it. Take Dogecoin, for example. It all started as a tribute to a meme, yet the community has grown so large that it’s now one of the most popular cryptocurrencies.

How Did the Currency You Want to Purchase Perform in the Past?

Of course, you also need to consider the currency’s market performance. How has it performed in the past? Is it currently in a good position to grow?

When it comes to crypto prices, the market will always fluctuate. As a result, there will be times when the crypto you hold is losing its value, only to find out that it’s worth more a few weeks or months later.

That’s why it’s essential to have patience and not sell during a market crash. The best thing you can do is hold on to your investments and wait for the market to recover.

Wrap Up

Now that you’re familiar with the best penny cryptocurrencies to invest in, it’s time to start picking your favourites! 

Each cryptocurrency on our list has unique features and benefits, so take them into consideration before investing. Remember, it’s always a good idea to consult with a financial advisor before buying crypto.

FAQ

What is the best penny cryptocurrency to invest in?

Stellar, Cardano, Dogecoin, and Tether are penny cryptocurrencies favoured by many investors. When investing in cryptocurrencies, it’s advisable to consider several options, as investing in a single digital asset can lead to catastrophic losses. 

What is the cheapest cryptocurrency with the most potential?

Cardano is one of the cheapest cryptocurrencies with the most potential. Some predictions show that Cardano may drastically increase in value over time. Still, you can’t rely on these predictions due to market volatility. 

Which penny cryptocurrency will explode in 2022?

Cardano has the potential to explode in 2022 as more and more traders understand its impact on blockchain technology. It is a highly functional digital asset, and its blockchain is sustainable and scalable.