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Is Penny Crypto a Good Investment?

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What is Penny Crypto?

Penny cryptocurrencies, like equities, trade for a few cents or less than $5 per unit. They are inexpensive to invest in despite being high-risk ventures, which is what makes them so attractive to crypto traders.

Today we have reviewed the best penny crypto to buy right now. However, you should always make sure you have conducted plenty of research yourself before risking any of your hard-earned cash.

Is Penny Crypto a Good Investment?

The best penny crypto to invest in should have the ability to grow in value over time. Otherwise, it’s illogical to add it to your portfolio.

Below we discuss some of the reasons you might elect to buy the top penny cryptocurrencies for 2022 :

You Don’t Need to Have a Big Account Balance to Buy Penny Crypto

One of the most obvious advantages of learning how to buy penny cryptocurrencies is that you don’t need to have a big account balance.

That is to say, with all tokens coming in at less than $5, you could invest in hundreds of different cryptocurrencies for less than the cost of a single Bitcoin or Ethereum, for example.

The minimum deposit on regulated crypto platform eToro.com is just $10 for US and UK traders, and slightly more internationally.

Buy the Best Penny Stocks to Diversify Your Portfolio of Investments

As well as the cost-effective nature of buying penny crypto, you can also minimize risk by not allocating hundreds or thousands of dollars to a single speculative asset.

As such, although there is still a risk, you don’t have to put all of your eggs in one basket. It’s easy to build a diverse and well-rounded portfolio of digital currencies, and with very little cash outlay.

eToro is an online brokerage that offers the top penny cryptocurrency of 2022 we talked about today.

There are also tons of others, with super low commissions and you can risk as little as $10. You can also access penny cryptocurrency stocks with a 0% commission.

How to Buy the Best Penny Crypto – Lucky Block Tutorial

Our recommendation for the best penny cryptocurrency to invest in 2022 wise is Lucky Block.

As such, we are going to show you how to place an order and add tokens to your portfolio today.

Step 1: Get Trust Wallet: You will need to start by downloading the Trust Wallet to your cell phone. This is backed by major crypto exchange Binance and will allow you to buy Lucky Block.

Step 2: Deposit BNB: To buy Lucky Block with a direct swap you will need some BNB tokens. If you don’t have any BNB already, you can purchase some via Trust Wallet.

Step 3: Connect to Pancakeswap: Find ‘DApps’ and click the button to link your wallet to the Pancakeswap exchange and select ‘Connect Wallet’.

Step 4: Paste Lucky Block Contract Address: You will find the contract address on the official Lucky Block website. Copy and paste this into the appropriate field

Step 5: Swap BNB for Lucky Block: Enter the number of BNB tokens you want to exchange for Lucky Block and confirm your purchase

After this, add the Lucky Block tokens you purchased to the Trust Wallet app.

As cryptocurrencies fluctuate rapidly, remember that the number of Lucky Block tokens you get will depend on the market value.

Where to Buy Other Penny Cryptocurrencies

If you are interested in buying some of the other penny cryptocurrencies that we mentioned today, eToro is the overall best place to complete your investment.

eToro – Best Place to Buy Penny Crypto in 2022

eToro is the overall best place to buy penny crypto in 2022 – as the platform offers a slew of benefits. The trading costs are low at eToro, not least because you will pay a mere 1% to buy and sell any cryptocurrency of your choosing. eToro offers access to 59 cryptocurrencies, as well as numerous other assets.

If you feel comfortable with the idea of buying penny crypto and storing it in a wallet, there’s an app for that. The eToro Money wallet comes in the form of a crypto app and safeguards your investments with a range of security features. This includes standardization protocols, DDoS Protection, sophisticated signature mechanisms, and more.

This broker serves more than 25 million traders and is regulated by multiple regulators, which include the SEC and the FCA, among others. The aforementioned crypto wallet is regulated by the GFSC. The main trading platform is really simple to use and navigate.

Furthermore, investors who don’t feel comfortable looking after a wallet and private keys can keep things simple by opting to buy penny cryptocurrencies on the main platform. In this case, when you’ve placed an order, eToro will add the tokens to your portfolio, which is accessible any time you log into your account.

eToro crypto

It’s also super easy to cash out as the broker simply buys the tokens back. The minimum stake is $10 at eToro. If you later decide to invest in pricier assets, the same applies as the broker supports fractional trading. You can also access stocks and ETFs with 0% commission if you wish to diversify later.

You can take a hands-off approach to trade if you wish. eToro offers smart portfolios focused on cryptocurrencies. This means you can allocate funds to a carefully selected basket of tokens. There are 12 to choose from, and plenty more focused on other markets.

Copy trading is one of the most popular features at eToro and copy traders made an average 30.4% return on investment (ROI) last year. Choose a pro whose preferred market in cryptocurrencies and invest some of your funds in that person. Each time they buy or sell cryptocurrencies, it will be mirrored in your portfolio, in proportion to the amount you allocated.

Payment options are plentiful and include e-wallets like Skrill, PayPal, and Neteller. You can also finance your crypto investments using a credit/debit card, wire transfer, or traditional online banking. As a US client, there are no deposit fees to pay.

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