In simple terms, penny cryptocurrency refers to any cryptocurrency coin whose price is less than $1 but not as much as the value of other crypto coins such as BTC, ETH, LTC, and so on. If you’re a keen investor of cryptocurrency, it is important to be aware that investing in the latest crypto coins could increase your profit margin however, it can also result in significant losses.
But, penny cryptocurrency’s price value is extremely fluctuating. In other words, you could earn a huge portion of cryptocurrency income or experience a massive loss if the price movement is not properly observed.
If you want to invest in penny cryptocurrency it is necessary to conduct a thorough study and apply fundamental analysis in conjunction with an analysis of technical aspects (if you’re a professional in the field of cryptocurrency trading). Since the cryptocurrency market is packed with frauds, you’ll need to be aware of any shady actions to ensure that you don’t lose your investment in the fake cryptocurrency market.
If you’re contemplating who might want to invest in these cheap cryptocurrency coins, I’d say that wealthy individuals who can afford to lose nearly all the amount they invested in penny cryptocurrency are those who invest the most in these coins.
They’re aware of the potential and have walked the most out of their education on how to enter the market of penny cryptocurrency and then exit it if the situation and goal are not favorable enough.
Why Should You Invest in Penny Cryptocurrencies?
Two primary reasons are investing in cryptocurrencies that are penny-sized could be worthwhile for potential gains and better returns. On the other side, there is Polygon (MATIC). As with most penny-based cryptocurrencies, Polygon (MATIC) languished for a long time just below the $0.05 mark before skyrocketing in 2021 and being among the most popular coins on CoinMarketCap’s charts as of mid-December of last year.
A lot of people were aware of MATIC as an investment opportunity even when it was trading at pennies per token, as the structure of its rewards was extremely profitable for each block that was mined. Some even recommended buying low and observing the possibility of one of the biggest winners in 2021 and they were correct.
In terms of the highest rewards that is, penny cryptos are riskier in the short-term however, they also carry more risky but with a greater reward. They have produced higher profits on behalf of investors than Bitcoin over a few years and can move rapidly in the space of a few months, or minutes. This is because penny cryptocurrencies need less capital to manipulate prices and are easier to trade on smaller volume exchanges.
It’s also recommended to speak regarding the potential passive earnings that you can earn with penny cryptocurrency. A majority of altcoins employ a Proof-of-stake (PoS) consensus system, which allows users to earn income passively by staking their coins to ensure the security of the network. In the end, when you purchase any coin, you not only can you reap the benefits of a price increase, but also benefit from a competitive APR (annual percentage rate) which ranges from 6% to 10% depending on the coin you choose!
How can you invest in Penny Cryptos?
Make your account with BinanceMake any deposit in your base currency. Purchase BNB, BTC, ETH, LTC, or BNB at Binance. You can exchange the coin for the desired crypto-coin. Exchange wallets will get credited.
Bitcoin and other cryptocurrencies could make you extremely rich but they also are a drain on your funds instantly. If you invested the majority of your funds in ones that appreciated, you can earn enormous returns from investments. Let’s say the majority of your funds were put into stocks that were not valued, you are likely to lose a significant amount of money.
This is the list of the most popular penny cryptocurrency. This guide aims to draw attention to cryptocurrencies that are inexpensive and have significant potential for growth. All of the coins in this list fall within the top 200 of the most important cryptocurrency projects, which means they’ve already experienced significant changes and increased user acceptance.
The Graph (GRT) trades with the price of $0.89 and has a market cap of just under $4 billion. The Graph is a database that indexes the data of blockchains, which can be useful both for developers and users. It is possible to imagine GRT as Google for blockchains.
ShibaInu (SHIB) is the most affordable cryptocurrency on the list, trading for less than one cent. It’s nevertheless one of the top cryptocurrencies on the list, with a market capitalization of over $3 billion. ShibaInu is an ERC-20 coin that has been gaining attention since the release of ShibaSwap which is its decentralized exchange. Due to the huge quantity of SHIB, ShibaInu can’t achieve $1 per token since it will require more capital than the economy to get to the price.
The Basic Attention Token (BAT) is an ERC-20 utilized to reward users with attention to ads. BAT operates alongside Brave Browser, which pays users when you use their search tool. BAT trades at $0.72 with a market capitalization of $1 billion.
Sandbox (SAND) can be described as an initiative aimed at bringing gaming and blockchain technology. The Sandbox allows players to earn NFTs by playing games. The virtual world is similar to that of decentral and in that users can earn money and create virtual real estate in the game. Sandbox is a game that allows users to monetize and develop virtual real estate. Sandbox has a current price of $0.59 and has a market cap of only $380 million.