If you’re not new to investing, you’ve probably heard the term “penny,” which implies “little.”
We researched the top penny cryptocurrencies to invest in to help you make the right decision.
Penny stocks are derived from the stock market, and penny crypto is derived from the burgeoning cryptocurrency market. Penny crypto is defined as a cryptocurrency with a unit or token price of less than $5.
They are inexpensive to invest in, even though they are high-risk investments due to their modest market capitalization. The greatest penny cryptocurrency to invest in, on the other hand, should have the ability to appreciate over time. It’s incomprehensible otherwise.
This post looks at the top 5 best penny cryptocurrencies to invest in 2022, as most people are looking for low-cost investment options. Furthermore, they have the potential to increase in value in the future.
Coins to emphasize on :
1. Dogecoin
Dogecoin, the king of meme coins, began as a joke but has now made numerous investors billionaires. The coin employs the same proof-of-work mining algorithm as Bitcoin. It contributes to a 1 minute confirmation time for each block. It’s also a popular tipping coin utilized as a payment token on various services.
It’s prepared for greatness, given its ever-growing community and that major corporations like Tesla accept it as a payment symbol. DOGE, like most cryptocurrencies, has shown some positive indicators in the last two days, with its price reaching a high of at least 25%, putting it at $0.1583.
In 2021, the coin received a boost from significant companies and celebrities, which is expected to continue.
2. Pi network
Pi Network is a new cryptocurrency and developer platform that allows mobile users to mine Pi coins without exhausting their device’s battery, minimizing environmental impact, and allowing developers to give users real-world utilities and products in exchange for Pi coins.
According to the concept, anyone with a smartphone and an internet connection can join in the network’s activities.
The Pi Network app is available for download in the Google Play and Apple App stores. A referral system is used to build the network: mining sessions cannot be finished unless a user successfully refers a new member.
The Pi Network had 29 million users as of late November 2021.
The coin is worthless and cannot be exchanged. Because there isn’t currently a Pi wallet, it can’t even be withdrawn from the app. Once the mainnet is deployed, the software is meant to transform into a wallet, which is yet another oddly unique feature of Pi.
Crypto wallets are frequently available as open-source software that anybody may use.
So far, there’s no clear road map as to when the Pi mainnet will launch, and the token will be listed.
3. Safemoon V2
Safemoon is a cryptocurrency that launched in March 2021 and attracted attention after its price skyrocketed in April.
Safemoon, like other well-known cryptocurrencies like Bitcoin and Ethereum, is based on distributed ledger technology, such as blockchain. Safemoon V2 is a cryptocurrency launched on the Binance Smart Chain blockchain and has a market valuation of $369,695,679 as of this writing.
Safemoon’s creators also regularly reduce the amount of Safemoon in circulation to reduce supply and raise the price. According to CoinMarketCap, the price skyrocketed quickly after its launch in March, reaching an all-time high of $0.000014 on April 20. It has since dropped by about 80% from its high.
Currently, the price of safemoon, according to CoinMarketCap, is $0.0006624.
4. Basic Attention Token(BAT)
Basic Attention Token (BAT) has been around since 2017 and is a wonderful long-term investment option. Basic Attention Token has a market capitalization of $1 billion at writing. This penny cryptocurrency has a maximum supply of 1.5 billion tokens. This crypto project has a purpose as well.
Basic Attention Token is a blockchain-based system that tracks media consumers’ attention and time spent on websites using the Brave web browser. Users, publishers, and marketers all have access to the tokens. As a result, the Basic Attention Token serves as the incentive unit in this advertising environment.
Today, the live Basic Attention Token price is $0.668722 USD with a 24-hour trading volume of $102,013,895 USD; basic Attention Token is down 5.90% in the last 24 hours.
It is based on Ethereum and has the goal of successfully sharing advertising money amongst marketing agencies, publishers, and viewers of online content and advertisements. Importantly, just a small portion of this money goes to advertising, with the remaining 70% going to users.
As a result, the intermediaries that used to push up advertising rates have been removed from the equation, resulting in increased cost-efficiency. As a result, this is one of the top penny cryptocurrencies to invest in.
This advertising budget must currently be paid exclusively in Basic Attention Tokens, which advertisers can obtain from several third-party exchange platforms. Brave keeps a small portion of the revenue and distributes the rest to publishers and users.
5. Tron(TRX)
Tron, a decentralized blockchain-based digital platform, was launched by a non-profit group in 2017. Tron has a market valuation of roughly $6.6 billion at writing. This is the finest crypto under a penny for investors wishing to acquire a digital token with its independent blockchain.
To elaborate, Tron started as an ERC-20 token before moving to its blockchain network. This is significant since it is no longer vulnerable to Ethereum blockchain flaws. Furthermore, it was given the freedom to grow by allowing developers to write smart contracts on Tron.
TRON has positioned itself as a place where content creators may directly communicate with their viewers. It is believed that by eliminating centralized platforms — whether streaming services, app shops, or music websites — producers will lose less money to middlemen. As a result, users may be able to obtain material at a lower cost. TRON may have a head start in adopting blockchain technology to the entertainment business, given how the industry is becoming increasingly computerized.
According to CoinMarketCap, TRON’s price is $0.06343 at writing, with a total market cap of $6,446,582,181.