Review and compare the top Penny Cryptocurrency to Invest in and identify the best Crypto Penny Stock for investment:
Just like penny stocks, penny cryptocurrencies trade for a few pennies or less than $5 per unit. Despite being high-risk investments because of their small market capitalization, they are cheap to invest in. Although the best penny crypto to invest in should have the potential for value increment over time. Otherwise, it makes no sense.
Many factors determine the potential of crypto. It could be the value of the underlying tech or investment, community and/team behind the project, or mere hype. For cryptocurrencies, it is possible to get such types of crypto and tokens whose value is bound to increase over time due to their current potential.
What You Will Learn:
- Penny Crypto Stocks To Invest In
- Frequently Asked Questions
- List Of Top Penny Cryptocurrency To Invest In
Penny Crypto Stocks To Invest In
This tutorial looks at the best penny cryptocurrencies to invest in based on their current potential value.
Here is how you can select the best penny cryptocurrency:
- Do your own research on the crypto market: Given the many options, spend some time looking at the strengths of each use case, market value, price projections, and teams.
- The development team should be knowledgeable in those matters, have experience in crypto and blockchain, although that is not entirely mandatory. A large community is a must for a coin.
- Go for a specific market cap and supply range: A range of between 10 million to 1 billion coins is recommended for circulating supply. A coin should have a market cap of at least $20 million.
- Confirm it is listed on Coinbase, Bitmex, OKEx, Huobi, and other crypto exchanges.
- Confirm the coin has a 24-hour volume traded of not less than $1 million.
- Look at the coin’s trading history, market performance, and future projections. It should be promising based on statistics and your review of the statistics.
- You can also hire a financial crypto advisor. Some also start by testing by buying a few tokens.
Frequently Asked Questions
Q #1) Which penny cryptocurrency should I invest in?
Answer: The list is endless. However, the secret is to invest in crypto or token that will increase in value. Be sure to check the actual reason that explains future potential in the current terms. Ask whether those factors will propel value in the short or long term.
Based on our list, you can go for VeChain, Stellar, Basic Attention Token, Chilliz token, Zilliqa, and others.
Q #2) What is the best coin to invest in?
Answer: The best coin to invest in depends on the value it will generate for you, either in the long term or in the short term. When evaluating penny crypto, ensure to check your own investment goals.
Do you want to invest in the long term or short term? How much do you want to invest in, when, how, and how much are you aspiring to get?
Then check the list provided in this tutorial, which includes Binance token BNB, Coinbase stock, Reef, Dogecoin, VeChain, and many others. In addition to this list of top penny crypto to invest in, refer to the list of top cryptos to invest in overall.
Q #3) What is the cheapest crypto to invest in?
Answer: Dogecoin, VeChain, Stellar, Chilliz, and Reef are some of the cheapest penny cryptocurrencies to invest in today. Valued under a dollar or a few dollars as of 2017, they also have huge potential to grow and generate huge incomes in the future.
Q #4) Which crypto is under a penny?
Answer: In the list, we have several penny cryptocurrencies that are cheap to invest in while generating large value in the long term. They include Stellar, Reef, VeChain, Chilliz, and Dogecoin. These are also rated as some of the best penny tokens to invest in, given the huge value potential they have.
Q #5) What is a penny cryptocurrency?
Answer: A penny cryptocurrency is valued under a dollar. Because of their low price, these cryptocurrencies are cheap to invest in. You not only can accumulate a massive amount if investing a lot of money but can buy many of them to diversify your investments.
However, it is advisable to do own research to find the most potential one that could generate huge returns in the future.
Q #6) How should I invest in penny cryptocurrencies?
Answer: Penny cryptocurrencies can be bought on crypto exchanges on which they are listed. If you are looking for penny cryptos to invest in, our list has many. You can also check from the list of cryptocurrency exchanges to find if these tokens and cryptos are listed there.
List Of Top Penny Cryptocurrency To Invest In
Here is the list of popular penny cryptocurrencies:
- VeChain (VET)
- Stellar (XLM)
- Basic Attention Token (BAT)
- Chilli (CHZ)
- Zilliqa (ZIL)
- Reserve Rights (RSR)
- REEF Finance (REEF)
Comparison Table Of Some Best Penny Cryptocurrency
|Crypto||Top Features||Best For||Rating|
|VeChain (VET)||IoT-based supply chain tracking.|
|IoT, supply chains, and logistics investments||5/5|
|Stellar (XLM)||Capable of supporting transactions per second||logistics and supply chain investments||4.8/5|
|Basic Attention Token (BAT)||Publisher and advertiser revenue sharing||Advertisers and publishers||4.7/5|
|Chilli (CHZ)||Hosts NFTs and Fan tokens||Investors in gaming platforms and NFTs||4.5/5|
|Zilliqa (ZIL)||Smart contracts, Can support thousands of transactions per second hence very scalable||Long term investors and holders||4.5/5|
Top Penny Cryptos reviews:
#1) VeChain (VET)
Best for IoT, supply chains, and logistics investments.
VeChain is a blockchain-as-a-service platform mostly for enterprises that want to leverage the power of the Internet of Things to prevent counterfeiting. It uses IoT to track and provide proof of authentication for goods and services during trading.
Every product is tagged with a unique code that also facilitates tracking on the blockchain, such that a retailer or consumer can know where, when, how, enterprise responsible during shipping, and other things relating to the manufacture of the product. Clients can also use the solution for tracking on-transit goods to know their destination during shipping, etc.
It is a valuable penny stock to invest in, given its use case in the vast supply and logistics industry.
- Stakeholders with voting authority can be individuals, government agencies, non-profits, businesses, or even corporations. These run three-level master nodes.
- It has two tokens namely Vtho and VET that are used as a store of value, smart currency, and for paying gas on the network.
Website: VeChain (VET)
#2) Stellar (XLM)
Best for logistics and supply chain investments.
Stellar Lumens and its crypto XLM have also found extensive use cases in the logistics, remittance, and borderless payment transfer industries. The platform allows for asset transfer globally in a secure, fast, and reliable manner.
On it, and using Lumens as the exchange token, anyone can create, send, and trade representations of any form of money, whether dollars, pesos, euros, Bitcoins, or anything.
The crypto works as a low-cost and instant cross-border payment solution while the platform allows anyone to issue tokens, through ICOs or token fundraising, the same way you can do with Ethereum.
If you are looking for penny cryptocurrencies to invest in, look for those with real-world applications like Stellar, because their base value keeps on building over time.
Since its inception, Stellar blockchain and XLM tokens are being used by many companies. Some include Mobius Network, SureRemit, and Smartland. It is adopted already by hundreds of solutions across many industries. It is the reason the token has been built up in value and makes for good penny stocks to own.
- Low fees and quick payments within 2-5 seconds. Changing currency for another takes just $0.00006 per transaction.
- It is energy conserving as it uses a proof of stake algorithm, decentralized, low latency, and scalable.
- It can transact 1,000-5,000 transactions per second, which is pretty faster compared to Ethereum and Bitcoin.
Website: Stellar (XLM)
#3) Basic Attention Token (BAT)
Best for advertisers and publishers’ investments.
It helps to distribute ad revenues amongst ads advertisers, content publishers, and readers. Readers can get paid for watching ads when using the Brave browser while not violating their privacy with annoying ads. Content publishers can also pay for advertising and publication.
The browser just passed 25 million monthly active users in February, and although a lot of hype around the utilization of such platforms for publishing has reduced, its adoption tells that it continues to be a popular alternative.
- Brave browser available for Windows, macOS, and Linux platforms.
- BAT tokens can be purchased on exchanges.
Website: Basic Attention Token (BAT)
#4) Chilliz (CHZ)
Best for investors in gaming platforms and NFTs.
Chilliz is a blockchain platform comprising two other platforms, namely socios.com and the tokens. Socios.com is a team crowd management platform that lets users support their teams while aiding decision-making for their favorite teams. For instance, fans can vote on matters like shirt designs, training grounds names, and so on.
These team fans can also use the fan tokens supported on the platform to vote or trade value. The tokens also act as loyalty cards, providing users with access to merchandise discounts and experiences.
Owning tokens provides discounts to users when buying merchandise, earning rewards, and engaging with APP. The tokens supported on the platform are Fan Tokens, CHZ, Locker Tokens, and NFTs.
The company is in partnership with Juventus, FC Barcelona, Atletico Madrid, AC Milan, and PSG clubs. More partnerships could also raise its value, and this is one thing that makes it a great penny token to invest in.
This is in addition to the expansive nature of the world of sports. It is expected to pen further agreements with the likes of the US NFL and NBA.
- A fiat onramp into crypto allowing users to buy Chiliz with Visa, Mastercard, SKRIL, and Rapid.
- Fan token selling – the Socios app has a trading section that lets fans trade fan tokens.
- The Chilliz exchange allows token owners to trade them or invest. The platform also supports USDT and BTC.
Basic Attention Token: $0.8601.
Website: Chilliz (CHZ)
#5) Zilliqa (ZIL)
Best for long-term investors and holders.
Zilliqa, which is based out of Singapore, uses sharding as a scaling solution to lift limits on the number of transactions per second. Each shard is limited to 600 nodes to preventability for a node to manipulate a block.
The blockchain was founded at the National University of Singapore by academics, Technologies, and entrepreneurs. In 2019, it reported being capable of supporting 2,828 transactions per second, although the limit is ideally limitless because it depends on the number of nodes that could be unlimited.
There certainly are many reasons this one could be a good penny stock to invest in this year. The circulating supply currently stands at 14.9 billion units out of the total 21 billion max limits. This is a solid team of academicians from the National University of Singapore with a strong approach.
- Zil token is used as a governance token on the platform.
- ZilSwap is a trading and liquidity platform that lets users exchange assets.
- Low transaction cost.
- Energy consumption is minimized by combining proof of work with the Byzantine Fault Tolerance Protocol.
Website: Zilliqa (ZIL)
#6) Reserve Rights (RSR)
Best for investors in high inflation areas.
Reserve Rights uses a USD-pegged stable coin at a ratio of 1:1, the RSV, to reduce the volatility of held value, although the stable coin is itself reinforced using other digital assets on the platform.
Built on the Ethereum blockchain, the protocol facilitates multiple fiat networks to operate autonomously. The protocol keeps the token stable by repurchasing the token if it becomes less valuable to the dollar and through arbitragers selling it to decrease demand when it becomes more valuable than the dollar.
By interoperating with financial institutions, the team wants to have a dollar-pegged coin used across these platforms. This way, users can reduce cross-border transaction costs and pain points. The RSV storage is centralized backed by U.S. dollars held in trust by a third party similar to Tether.
They also have the Reserve Rights Token, which is an un-pegged token on the ecosystem. It is used for governance and to stabilize the RSV. It is also used to recapitalize the network if the reserve vault of the RSV cannot collateralize RSV in full. In other words, it is used to rebalance the value of the RSV.
- Fiat-RSV exchange on the platform. Users can cash in and out using a bank, Paypal, or Zelle.
- A mobile app already targeting users in Venezuela – may also be used in other countries with similar inflation problems.
Website: Reserve Rights (RSR)
#7) REEF Finance (REEF)
Best for long-term holders and investors.
Reef is a uniting factor for all blockchains to solve difficulties like DeFi users having to move to multiple platforms to complete their orders due to low liquidity on each of them.
On Reef, a user can stake, buy, farm, and manage their digital assets seamlessly. It was begun in 2019 and launched on the Polkadot blockchain in September 2020. It also launched on the Binance Launchpool in 2020, making it available on the Binance Smart Chain.
It is a DeFi protocol that runs on Polkadot blockchain. It serves as a liquidity aggregator and multi-chain yield engine. Users can access any DeFi service offered on other multiple platforms supported, all on Reef, without needing to create multiple accounts on each one of them.
For instance, users can access decentralized exchanges and their services through smart contracts. Crypto traders and platforms willing to access or give their users access to massive liquidity can use the platform to achieve this.
It makes it a good penny stock given its use cases including interoperability with DeFi on both Polkadot and Ethereum blockchains. It leverages Polkadot’s Relay Chain tech to facilitate cross-blockchain interoperability.
- Fast transaction rate since it is based on Polkadot. Users do not also encounter massive transactional fees.
- Cross-linkage with some DeFi platforms.
- AI-driven management function.
Website: REEF Finance (REEF)
Best for long-term holders and investors.
Binance started as a centralized cryptocurrency exchange in 2017 and went forth to become the largest cryptocurrency exchange by daily trading volumes.
Today, the group also runs a blockchain known as Binance Chain, on which many projects and applications are hosted. Binance Chain supports the Binance DEX, which is a decentralized exchange application for Binance exchange.
It has a token known as BNB, which is used on both the centralized and the decentralized exchanges to pay for gas fees and facilitate the exchange of token values. In just under two years, the token has increased in value from near zero to the current over $300 in July 2021.
The value of the token is supported by the exchange and blockchain itself. The token value increases by day since every quarter, Binance buys back tokens from circulation, which boosts its demand.
- Binance Chain lets users stake BNB to earn block rewards. It allows the trading of tokens. The chain also supports applications. Decentralized exchange on the chain allows the swapping of tokens.
- Binance exchange allows trading, a listing of new tokens, and staking.
Binance coin: $495.10.
Best for institutions and individual traders and investors as well.
Coinbase is one of the largest centralized exchanges by trading volumes. It has operated since 2012 and lets individuals, groups, and institutions take advantage of cryptocurrencies and digital assets through its custodian services.
Besides enabling crypto-to-crypto exchanging, the platform now lets users buy and sell crypto for fiat. This includes PayPal, ACH, and bank wire, credit and debit cards.
Coinbase, like Binance, has so far listed hundreds of cryptocurrencies and tokens for trading. It is also fully regulated. Despite its high fees and the fact that users do not control their wallet keys, the interface is easy to use. It is also highly liquid.
It makes it a good penny cryptocurrency stock to invest in, as it is now listed on the Nasdaq stock exchange through an IPO, which means people can buy its shares on the exchange. It does not rely on the Wall Street investment banks to serve as underwriters to set the price of the stock.
- iOS and Android mobile apps.
- Supports staking – including institutional staking, saving, and dollar-cost averaging investment.
- Stock listed on Nasdaq through IPO.
Best for long-term holders and investors.
Dogecoin is referred to as the king of meme coins. It was forked from Litecoin, itself a fork of Bitcoin. Its name is derived from the Japanese dog breed Shiba Inu. It uses a proof of work mining algorithm same as Bitcoin.
Dogecoin improved from Bitcoin by reducing confirmation time for each block to 1 minute each. It is also used as a payment token on many platforms, besides its popularity as a tipping coin. In fact, it grew in popularity as free tipping crypto before entering the mainstream list of cryptos.
Today, it is one of the popular penny tokens and crypto to invest in given its ever-expanding community, acceptance as a payment token by popular companies like Tesla, and the fact that it could start expanding use cases as recently announced.
In 2021, it has seen a lot of boosts in value given support from influential personalities and companies, which are bound to continue in 2022.
- No limit on the number of tokens that can be minted.
Based on our list, Binance and Coinbase are well tried and tested and are good fractional penny cryptocurrencies if looking for fractional shares or cryptocurrencies.
However, VeChain, Stellar, Basic Attention Token, Chilliz, Dogecoin, and Zilliqa are currently valued at under a dollar, have massive potential, and are therefore great for beginner investors.
- Time Taken to Research and Write This Article: 15 Hours
- Total Tools Initially Shortlisted for Review: 20
- Total Tools Researched Online: 10