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.
The 10 Best Penny Cryptocurrency to Invest In 2022
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.
- Lucky Block – Overall Best Crypto Under a Penny That Will Explode in 2022
- DeFi Coin – Best Community Driven Penny Crypto to Buy and Hold
- Chiliz – Best Penny Crypto for Sports and Entertainment Tokenization
- XRP – Buy Established Large-Cap Penny Crypto Under $1
- Ren – Promising Cryptocurrency to Buy in 2022
- Cardano – Top Third-Generation and Highly Functional Penny Crypto
- Basic Attention Token – Great Penny Crypto for Long-Term Investors
- Tron – Buy This Penny Crypto at a Discounted Entry Price
- Decentraland – Invest in the Best Penny Crypto and Gaming Token
- Stellar – Popular Blockchain That is Faster Than Visa
Cryptoassets are a highly volatile unregulated investment product.
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.
A Closer Look at the Top Penny Cryptocurrency to Invest in
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: Lucky Block – Overall Best Crypto Under a Penny That Will Explode in 2022
Lucky Block was only released in January 2022 but is shaping up to be 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 just $0.003 per token, which will appeal to most investors.
This cryptocurrency has a market cap of over $118 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.
Let’s explain what makes this the top penny cryptocurrency for 2022. It’s a crypto games and competitions platform where ‘everyone’s a winner’ in prize draws.
Using distributed ledger technologies, blockchain enables for 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 prizepools are significant, which usually has an influence on the payouts and also the revenue needed for distributing prizes.
It goes without saying, but if a games 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.
Cryptoassets are a highly volatile unregulated investment product.
2: DeFi Coin – Best Community Driven Penny Crypto to Buy and Hold
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 with the aim of boosting 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 a number of advantages, one of which is the ability to collect dividends through a fixed reward structure. Essentially, if you invest in this cryptocurrency, you have the capacity to 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.
Cryptoassets are a highly volatile unregulated investment product.
3: Chiliz – Best Penny Crypto for Sports and Entertainment Tokenization
Chiliz is a subsidiary of Mediarex Group, a 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.
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 own 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.
Cryptoassets are a highly volatile unregulated investment product.
4: XRP – Buy Established Large-Cap Penny Crypto
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 prior to 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 in order 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 ones that are valid.
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.
Cryptoassets are a highly volatile unregulated investment product.
5: Ren – Promising Cryptocurrency to Buy in 2022
Ren was created in 2017 and is an Ethereum token that enables the open blockchain-to-blockchain cryptocurrency transfer mechanism. Ren intends to integrate well-known assets like Zcash and Bitcoin into blockchains such as Ethereum. The supply of this cryptocurrency is capped at 100 billion tokens.
At the time of writing, Ren has a market capitalization of around $440 million. Essentially, the overriding goal of Ren is to remove hurdles and increase inoperability. Thus allowing a network of users and applications around the world to participate in a multi-chain decentralized financial environment.
Ren’s sophisticated algorithms and cryptography will facilitate the movement of a multitude of digital assets between blockchains. As you can see, this penny crypto provides the market with a valuable service. Many market commentators foresee this being one of the most promising cryptocurrencies for an investor to add to their portfolio.
Cryptoassets are a highly volatile unregulated investment product.
6: Cardano – Top Third-Generation and Highly Functional Penny Crypto
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.
Cryptoassets are a highly volatile unregulated investment product.
7: Basic Attention Token – Great Penny Crypto for Long-Term Investors
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, 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.
Cryptoassets are a highly volatile unregulated investment product.
8: Tron – Best Crypto Under a Penny Now
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 own independent blockchain.
To further explain, Tron began as an ERC-20 token before migrating to its own 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.
Cryptoassets are a highly volatile unregulated investment product.
9: Decentraland – Invest in the Best Penny Crypto and Gaming Token
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.
Cryptoassets are a highly volatile unregulated investment product.
10: Stellar – Best Penny Crypto Faster Than Visa
Stellar is a decentralized network that was released in 2015 by a well-known name in the crypto space, Jed McCaleb. This is a hard fork of the aforementioned Ripple (XRP). Stellar is a popular cryptocurrency that focuses on money transfers and making them more convenient and affordable.
People from all around the world may send money via Stellar, whether it’s in Bitcoin, dollars, or euros. Stellar’s goal is to connect all of the world’s financial systems into one network. Stellar’s capacity to enable quick and low-cost money transfers can undoubtedly tackle the issue of costly transactions. As such, this penny crypto has real-world uses.
At the time of writing, Stellar has a market capitalization of over $5.1 billion. Stellar’s main updates have expanded the flexibility of the interaction between the Stellar Core and Stellar-based apps, which is one of the most compelling reasons to invest.
Stellar’s roadmap is structured around network innovation and scalability, as well as promoting diversity and creating a more equitable financial system. Stellar consumes less energy and is faster than Visa. According to Stellar’s developers, it can process approximately 3,000 transactions per second, whereas Visa only manages around 1,7000 in the same timeframe.
Cryptoassets are a highly volatile unregulated investment product.
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 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.
Here’s why:
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 standardizations 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.
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 are able to 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 is 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.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Conclusion
In this guide, we analyzed the best penny crypto to buy as well as blockchain-focused stocks as alternative ways to invest in the industry. In terms of how to buy penny cryptocurrencies, we recommend regulated platform eToro.
We also consider the best penny cryptocurrency to invest in is Lucky Block, which is not yet listed at eToro but is available on decentralized exchange (DEX) Pancakeswap and LBank exchange. We wrote an additional guide on how to buy LBLOCK.
This crypto project was only launched in January 2022 and presale investors are already looking at gains in the thousands of percent. Plus the project still has a small market capitalization, so there is still plenty of upside left on the table. It’s our topic pick for the best crypto under a penny that will explode in 2022.
Cryptoassets are a highly volatile unregulated investment product.