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Many cryptocurrency investors have considered low-cost crypto projects at some point. This is where penny cryptocurrencies come in, which can be defined as digital assets that cost less than $5 per token – based on equivalent SEC guidelines on equities.
In this guide, we analyze the 10 best penny crypto to buy on a budget. We also take a closer look at how to buy the most promising penny cryptocurrencies in a few beginner-friendly steps.
Below, you will see a quick view list of the best penny cryptocurrencies to buy right now.
This includes everything from the best crypto under a penny that will explode to more established large-cap tokens under $5.
We would argue that each of the above-mentioned digital currencies is a worthy addition to any investor’s portfolio.
However, you’ll find further information on these penny cryptocurrencies with potential next – to help you make an informed decision.
When you invest in cryptocurrency in the US – the process is a fairly simple affair these days.
It’s selecting the right tokens that can be challenging, not to mention picking the best platform to access your chosen digital assets.
Let’s start by providing you with further information on the best penny crypto to invest in. After that, we’ll go into more detail about how and where you might complete your purchase.
1. Battle Infinity (IBAT)
2. DeFi Coin
3. Lucky Block
6. Shiba Inu
8. Basic Attention Token
Lucky Block was only released in January 2022 but is shaping up to be an option for the best crypto under $1 that could explode. As you probably know, digital assets fluctuate on a second-by-second basis. At the time of writing, you can add Lucky Block to your portfolio for only $0.0023 per token, which will appeal to most retail investors.
This cryptocurrency has a fully-diluted market cap of over $236 million and is trading several thousand percent higher than its initial presale price. This is especially unprecedented when you consider how young this project is. In total, the maximum supply of Lucky Block is 100 billion tokens.
Using distributed ledger technologies, blockchain enables speedier, typically immediate, transactions. Not to mention the comprehensive documentation and monitoring, regardless of the amount of prize money won in games.
Furthermore, blockchain verifies both players and tickets, lowering the risk of tampering, or destruction of data loss. The costs of running traditional prize pools are significant, which usually influences the payouts and the revenue needed for distributing prizes.
It goes without saying, but if a game platform can save expenses, more money is available for technical advancements and bigger rewards – both of which benefit participants. Lucky Block will shorten prize draw durations and allow numerous games to be carried out every day, increasing players’ chances of winning, while cutting expenses.
Low margin operations will also allow players to participate in whichever of Lucky Block’s competitions match their risk appetite for greater chances. Lucky Block has also developed a non-fungible token (NFT) series, which is limited to just 10,000. As well as being one of the best new NFT projects, it should be a great addition to anyone’s trading portfolio as our top crypto under a penny that will explode.
Finally, Lucky Block’s first jackpot draws are scheduled for May 31st, 2022, with gamers able to purchase entry tickets on May 30th. Each ticket will be priced at $5, payable in LBLOCK, although those who connect their crypto wallet to the Lucky Block platform will also receive a free entry ticket. Considering that the inaugural prize pool stands at a whopping $2 million, and NFT holders are also entered into an additional $1 million jackpot draw, Lucky Block looks set to continue growing in popularity in the weeks ahead.
DeFi Coin is an entirely community-driven project that is easily one of the best penny cryptocurrencies to buy right now. This penny crypto was launched in July 2021 to boost the decentralized finance (DeFi) ecosystem. The number of platforms listing DeFi Coin is increasing.
The amount of DeFi Coin tokens available will be limited to a hundred million. So how does it work? Reflections, manual burns, and LP acquisitions are all used by the DeFi Coin project. These features are designed to keep the DeFi Coin ecosystem alive and well.
The DeFiCoins.io website is powered by this token. DeFi Coin is built on top of the Binance Smart Chain. This allows the project to take advantage of the blockchain’s fast transaction speeds and low gas prices.
DeFi Coin will also let users participate in the swapping of collectibles as well as exchanging NFTs. Everyone who executes a trade pays a 10% transaction fee to the network, incentivizing users to hold onto their DeFi Coin for as long as they can.
The objective of doing this is to reduce volatile price swings. The first half of the transaction fee is returned to DeFi Coin holders, while the remaining 5% is held in reserve to provide liquidity for decentralized exchange services.
Buying and holding DeFi Coin tokens has several advantages, one of which is the ability to collect dividends through a fixed reward structure. Essentially, if you invest in this cryptocurrency, you can continually increase the amount of DeFi Coin tokens you own. If you’re looking to buy the best DeFi coins refer to our guide for more analysis.
Investors looking for the best crypto under a penny should look no further than Battle Infinity. This exciting new metaverse-based ecosystem looks set to make waves in the crypto market, thanks to numerous play-to-earn (P2E) elements that offer users an opportunity to produce a regular income stream. Moreover, with NFTs also being integrated, Battle Infinity is a true ‘all-in-one’ platform – that has already been KYC-verified by CoinSniper.
A total of six components make up the Battle Infinity experience, each offering a unique way to generate income. These include a dedicated crypto staking mechanism (completed with solo/duo staking) and a built-in NFT marketplace. There’s also a ‘game store’ that will feature numerous NFT-based games, complete with their P2E features.
Battle Infinity will also offer a unique fantasy sports league experience hosted on the blockchain and with NFT integration. Users can earn rewards through skilled gameplay denominated in $IBAT – Battle Infinity’s native token. There will be a total supply of 10 billion $IBAT, with an ‘auto tax’ feature charging a small amount on each token transaction that will be used within various elements of the ecosystem.
All Battle Infinity’s components will integrate with a rich virtual world called the ‘Battle Arena’. Users can create fully-customizable avatars within this world and connect with other users, providing scope to team up and tackle challenges together. With the platform’s recently-launched Telegram group already beginning to grow, this crypto under a penny looks likely to garner a great deal of attention going forward.
Let’s explain what makes this the top penny cryptocurrency for 2022. It’s crypto games and competitions platform where ‘everyone’s a winner in prize draws.
Chiliz is a subsidiary of Mediarex Group, multinational sports, and entertainment company created in 2006. After almost two years of innovation and development, the team minted 8.8 billion Chiliz tokens in October 2020. At the time of writing, Chiliz has a market cap of around $1.4 billion, making it one of the cryptos with the highest potential.
Investor interest in tokens tied to entertainment businesses seems to be on the rise in general. So how does it work? Users may engage in the blockchain platform by actively exchanging Chiliz for ‘Fan Tokens’. As such, this is the best penny cryptocurrency to buy for people who want to invest in sports tokenization.
The Chiliz team created the Socios platform, which is based on the Chiliz blockchain architecture. It is on this platform that the native Chiliz token runs. This sports fan interaction platform contains a variety of polls that deliver the most up-to-date information while also bridging the gap between sports teams and fans.
For operation, it has its mobile application. All you have to do is download the app from your Android or iOS app store and you can swap Chiliz tokens for Fan Tokens. You will also be able to vote in polls run by teams using them. Chiliz 2.0 should enable the trading of NFTs and other digital assets, as well as offer transaction gas fees that are at least 500x lower than Ethereum.
Ripple is a payment protocol that processes international money transactions using blockchain technology. It has worked with hundreds of financial institutions that use its technology. Ripple’s goal is to provide incredibly fast processing times and minimal transaction costs.
The company’s native cryptocurrency, XRP, was launched in 2012 and is one of the best penny cryptos to buy right now. 100 billion XRP tokens were created before its launch. Ripple put 55 billion XRP into an escrow. It also set up smart contracts to release 1 billion XRP each month. At this time, this popular penny crypto has a market capitalization of around $37.5 billion.
Ripple can sell as many tokens as it wants when they’re released to raise funds, and unsold tokens will be placed in a new escrow. To verify transactions, the XRP cryptocurrency employs a consensus system. Validators check proposed transactions against the most recent version of the XRP ledger and accept the valid ones.
For a transaction to be confirmed, it must be accepted by the majority of XRP validators. A typical XRP transaction takes five seconds to complete. As a bridge currency, XRP tokens can be utilized by financial firms to exchange currencies at a lower cost. They can also use XRP instead of fiat currencies. Moreover, even at the token’s all-time highest price, the transaction cost was just 0.00001 XRP.
One of the best low-cap crypto gems on the market is Shiba Inu (SHIB). Most crypto investors will have heard of this token as it burst onto the scene in late 2021, following the incredible rise of Dogecoin. Like Dogecoin, SHIB was designed to appeal to retail investors – yet ended up catching the attention of the mainstream media.
Between September and October 2021, the SHIB price rocketed by nearly 1,400% as it gained traction on various social media platforms. Although the coin couldn’t maintain these heights, Shiba Inu still has huge backing on Reddit and can often provide double-digit returns on certain days due to its low price.
The main thing holding Shiba Inu back is a lack of real-world use cases, although this looks to be rectified by the launch of ShibaSwap – the native DEX of Shiba Inu. This marketplace offers token swapping, liquidity pools, and even an NFT trading platform. All in all, if more utility can be added to the coin, it would undoubtedly lead to a more optimistic Shiba Inu price prediction for many investors.
Cardano was created in 2017 and is one of the top cryptocurrencies by market cap. At the time of writing, Cardano has a market capitalization of over $37 billion. The maximum supply of Cardano tokens is 45 billion. Cardano is also a highly functional digital currency.
This penny crypto was created as a next-generation evolution of the Ethereum concept. The Cardano blockchain is a sustainable, scalable, and flexible platform for running smart contracts. This makes way for the creation of a variety of decentralized finance apps, games, new crypto tokens, and more.
Cardano aspires to be the most environmentally-friendly blockchain platform available. Instead of the energy-intensive proof-of-work approach used by the likes of Ethereum, it employs a unique proof-of-stake consensus process called Ouroboros. Cardano also intends to decentralize entirely.
This will be achieved by implementing community-driven governance, in addition to an automated treasury mechanism to fund the network’s development. This is possibly the best penny crypto to buy for those who believe the world will move towards a decentralized future.
This is because, with such a large market cap, this digital currency is likely to be reactive to market prices. As such, Cardano should grow along with the broader crypto market. ADA went up 50% after we made this Cardano price prediction.
Basic Attention Token has been around since 2017 and is a great choice for long-term investors. At the time of writing, Basic Attention Token has a market capitalization of 1 billion dollars. The maximum supply of this penny crypto is 1.5 billion tokens. This crypto project also serves a purpose.
Put simply, Basic Attention Token is a blockchain-based system that uses the Brave web browser to track media users’ attention and time on websites. The tokens are transferred between users, publishers, and advertisers. As such, the Basic Attention Token acts as the reward unit in this advertising ecosystem.
Its purpose is to share advertising money effectively between marketing agencies, publishers, and users of online material and adverts, and it is built on Ethereum. Crucially, a small percentage of this funding goes to advertisers, while 70% is distributed to users.
As a result, the intermediaries that traditionally drive up advertising prices are removed from the equation to increase cost-efficiency. As such, this is one of the best penny cryptocurrencies to add to your portfolio.
Decentralized blockchain-based digital platform Tron was released in 2017 by a non-profit organization. At the time of writing, Tron has a market capitalization of around $6.6 billion. This is the best crypto under a penny for investors looking to buy a digital token with its independent blockchain.
To further explain, Tron began as an ERC-20 token before migrating to its blockchain network. This is significant since it implies it is no longer influenced by Ethereum blockchain vulnerabilities. Furthermore, by letting developers create smart contracts on Tron, it was given the freedom to flourish freely.
This has improved the efficiency of the Tron blockchain and increased demand for the token. With Tron’s ever-expanding developer community, this will be a source of value. Tron also has one of the most charismatic CEOs in the crypto space in Justin Sun.
It is also home to one of the most powerful crypto communities. The publicity they generate attracts more investors, which is excellent for Tron’s demand. Ultimately, this ensures the project’s long-term success.
Decentraland was created in 2017, like many other cryptocurrencies. Decentraland is a virtual world metaverse game based on Ethereum, which is powered by its native cryptocurrency, MANA. In the Decentraland marketplace, tokens may be used to purchase a variety of wearables, names, avatars, and other items.
Deecentraland has a market capitalization of over $4.3 billion as of writing. The maximum token supply for this cryptocurrency is just over 50 billion. Decentraland is organized into over ninety-thousand distinct parcels. Each is represented by an ERC-721 NFT in the metaverse and holders of Decentraland tokens have a say in how the virtual world develops.
They can take direct control by making policy modifications and voting on specific auctions. Furthermore, artists are setting up virtual galleries to sell their work and NFTs in this metaverse. Brands are even opening virtual real estate stores on the Decentraland platform. This creates a marketplace where people can communicate with buyers and sellers of NFTs via avatars.
Decentraland is one of the most popular metaverse locations for users to interact, with real money transactions. Not only that, but electronics giant Samsung has partnered with Decentraland with the launch of its flagship virtual store which is called Samsung 837X.
If the metaverse proves as popular as NFTs, this could shape up to be the best penny crypto and gaming token on the scene.
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