In the investing scenario, it is being believed that to be a good investor one will need to diversify their portfolio. This is completely true, and hence people today look for the best opportunities to invest and also earn good returns from them. Since the invention of digital currency, there are many people who have begun to invest in these currencies after coins like Ethereum and Bitcoin witnessed massive growth. There are thousands of crypto in the market that can be sold and bought but the point is which is the best penny cryptocurrency to invest in.
The Idea Of Penny Cryptocurrency
A penny cryptocurrency is a virtual currency that can be bought for less than $1. They are the same as penny stocks and are cheap coins that are worth a few pennies. The biggest advantage of investing in these currencies is that they have a high potential for profit in the future.
Penny cryptocurrencies are considered as one of the best alternative types of investments that can be segregated into four categories:
- Utility tokens
- Mining-based cryptocurrencies
- Security tokens
Just because these digital currencies are cheap does not imply that you should invest in them. There are other reasons as well for which you should consider investing in these cryptos. The reasons are:
- They have a high risk reward ratio.
- They provide investment diversification.
- They are a source of passive income.
10 Best Penny Cryptocurrency To Invest In 2021
It is necessary to have a predefined format or structure of the process of selection so that the user does not get confused among the huge options of coins that are available on the market. So here is the list of the best penny cryptocurrency to buy now.
Undoubtedly, XRP is one of the most famous digital currencies in the market. It was called “OpenCoin” during its launch in 2012. This crypto has hit the maximum value in January 2018 when it was valued at around $3.5. On 16.09.2021, at the time of writing, the value of Ripple was $1.10. The XRP is attached to it as it has a utility factor which implies that the user can do international transactions using this platform that will be over within a few seconds. This currency has gained popularity so early that it has successfully outperformed Bitcoin in the transaction ground. Ripple processes over 1500 transactions every second, speed, and scalability. This is surely the next cryptocurrency to explode 2021. This was also in the list of best penny cryptocurrencies to invest in 2020.
Stellar Lumens (XLM)
This is in the second position in the list of best penny cryptocurrencies to invest in 2021 in India and abroad. This crypto platform emphasizes on cross-border payments and remittances. It is now among the leading digital currencies where over $531 million tradings are conducted in a day. Along with that, it is listed among the top 13 most valuable digital currencies in the world. Stellar is taken care of by Stellar Development Foundation, a non profit organization that was founded in 2014. This platform aims to decrease the time and cost that is required for international money transfer, in a gist they wish to formulate equitable entry to the global system of finances.
Basic Attention Token (BAT)
BAT shares 70% of its revenue from ads with its users. All you will require to do is simply download the Brave browser. So if you are wondering how to earn rewards in Brave browser, then you are at the right place. Other than that, this is among the low cost altcoins to invest in.
Cardano is a decentralized and an open source blockchain project that has been formulated to facilitate P2P (peer-to-peer) transactions. It has several layers of formation that allow smart contracts, enabling a channel that is both scalable and adaptive without the need to compromise the security of the network.
Cardano was established in 2015 by Charles Hoskinson who is the co-founder of Ethereum and BitShares who left the Ethereum network for some issue. In 2017, the ADA digital currency was launched officially as the boom of ICO (Initial Coin Offerings) reached its peak.
This coin has gained a good amount of popularity lately because of its great combination of both good sets of fundamentals and technical price action. However, this coin is relatively new in the crypto space as it was founded in 2018. They wish to become security token’s Ethereum.
This coin is listed among the top 50 digital currencies and attained the maximum value in 2019 April, which was $0.07, and is present $0.1202 (at the time of writing on 16.09.2021). RVN has been formulated for serving some particular functions and one among them is to determine the ownership of assets flawlessly.
Zilliqa Mining started its journey in 2017. It is a blockchain based company that operates with its native coin ZIL. The main motto with which Zilliqa was formed was to be the first public blockchain platform that would support 11000+ transactions of cryptocurrencies in just seconds. The founders of this uncommon blockchain platform are Amrit Kumar, Prateek Saxena, Jia Yaoqi, and Max Kantetlia. The integrated “Sharding” to enable accomplishing the motto.
VeChain is a supply chain that is based on blockchain that wishes to solve real economic scenarios. They strive to construct an ecosystem that would resolve common issues that are associated with supply chain management. They provide two types of tokens to their customers: VeThor Token (VTHO) and VeChain Token (VET).
Dogecoin (DOGE) is an open source, peer-to-peer digital currency. It is an altcoin and is a highly sarcastic meme coin. While this crypto was formulated as a joke, the blockchain of Dogecoin still has a merit. Its underlying technology is obtained from Bitcoin. The notable feature of Dogecoins includes the use of the scrypt algorithm, which enables its low and unlimited supply.
Primarily, it was called Matic Network; it is an Ethereum-compatible blockchain scaling and interoperability framework. They focus on addressing a few disadvantages in Ethereum, like poor user experience, its lack of community governance, and throughput as well.
It is a blockchain channel that has recently experienced the upward pull of the crypto market as of the fan token frenzy. Chiliz is supporting Socios.com, which is a fan engagement service that allows sports teams to sell the fans special advantages like voting on team jersey designs when they are on the field, early access to tickets, etc. These advantages are then sold on the blockchain platform as “fan tokens.”
The Bottom Line
But before taking any decision based on your investment, verify every information yourself. The above mentioned list is for some guidance, and not for a recommendation. So invest in the coin that you feel is right. But remember, penny cryptocurrency is that currency that is cheap but has a good potential in the future.