What is Penny Cryptocurrency?
The term penny cryptocurrency has been derived from the stock market, which is investing in penny stocks. According to SEC, any stock that is traded below less than $5 per share is a penny stock. Investing in penny coins or trades could be risky, but it can bear some huge profits if done correctly. We have listed ten best penny cryptocurrency in the market as of now.
Following this should be kept in mind while investing in cryptocurrency penny stocks:
- Research: Before investing in a penny cryptocurrency stock, it is highly advised to conduct a thorough research about the project. The best project is likely that has intriguing plans for the future.
- Price: If a coin’s price is very low, it does not mean that the penny cryptocurrency is not trustworthy. Even, bitcoin once was a penny cryptocurrency. Study the coin and its company and their proposed ideas, if you believe in the project, then only you should invest in it.
Here is the list of ten best penny cryptocurrency in the market:
- Ripple (XRP)
- Stellar (XLM)
- Tron (TRX)
- Cardano (ADA)
- IOTA (MIOTA)
- Basic Attention Coin (BAT)
- NEM (XEM)
- ICON (ICX)
- Tezos (XTZ)
- Ontology (ONT)
If you are considering to invest in a penny cryptocurrency, you should identify and research thoroughly to pick the best penny coin in the market.
List of 10 best penny cryptocurrency
1. Ripple (XRP)
XRP (1) is a Ripple’s cryptocurrency that has various uses. The parent company of the penny cryptocurrency has collaborated with several banks and financial companies to utilize the coin for cross-border settlements. At the time of writing, XRP is trading at $0.224. It is debated in the crypto community whether XRP is decentralized or not because unlike bitcoin, XRP is pre-mined, and Ripple holds half of the total cryptocurrency.
Fact: XRP is the third-largest cryptocurrency in the market, with a market cap of over $9.7 billion.
2. Stellar (XLM)
Another penny cryptocurrency that is claimed to have a bright future is Stellar. The XRP competitor is built to facilitate cross-border settlements quickly and efficiently. This penny cryptocurrency is currently trading at $0.0554. The all-time high price of this penny cryptocurrency is $0.9381 and $0.00122 being the all-time low. XLM focuses on individuals and not big institutions for international payments.
Note: Stellar (XLM) (2) is currently ranked at 9th, with a market cap of over $1.1 billion.
3. Tron (TRX)
Tron is another penny cryptocurrency that investors believe has the potential to grow in the future. This year the TRON network announced some massive collaborations that could potentially increase the adoption of the coin. Currently, TRX (3) is changing hands at $0.0146 with a 24-hour trading value of $942,202,039. The all-time high of TRX is $0.2316 that the coin achieved in January 2018. TRX currently ranks in the 12th position.
Note: It has a circulating supply of 66 Billion coins and a max supply of 99 Billion coins.
4. Cardano (ADA)
Cardano (ADA) (4) is considered to be a very ambitious project. The penny cryptocurrency delivers a more functional and easier to use smart cryptocurrency. Cardano has the potential to change the smart contract world. The penny cryptocurrency is currently trading at $0.0382, with a 24-hour volume of $60,899,090. Cardano (ADA) is the 10th largest cryptocurrency with a market cap of $1,187,845,045.
Fact: Cardano (ADA) has a circulating supply of 31 billion coins and a max supply of 45 billion coins.
5. IOTA (MIOTA)
IOTA (5) is another ambitious project that plans to use a decentralized value exchange that would allow machines to communicate amongst themselves. IOTA does not use blockchain technology; instead, it uses a directed acyclic graph (DAG) as a ledger called Tangle. IOTA is currently trading at $0.2044, with a 24-hour trading volume of $5,656,145.
Rank: IOTA is ranked at 21 with a market cap of $568,331,358.
6. Basic Attention Coin (BAT)
Basic Attention Coin (BAT) (6)focuses on digital advertising by providing a platform that helps to eliminate intermediaries in the digital advertising space. Consumers browse the web with the BAT tokens used an incentive to see the content. The project aims to connect t users with content producers allowing them to earn BAT while doing so. BAT is currently trading at $0.190840, with a 24-hour trading volume of $41,380,492.
Note: Basic Attention Coin (BAT) is currently ranked at 31, with a market cap of $259,977,930.
7. NEM (XEM)
NEM is a peer-to-peer cryptocurrency and blockchain company. The platform allows multiple ledgers to coexist on one blockchain. The NEM’s native cryptocurrency XEM is mined using its Proof-of-Importance (POI) algorithm. XEM price for today is $0.03612651, with a 24-hour trading volume of $29,088,867. The all-time high of this penny cryptocurrency was $1.87. NEM (XEM) (7) has a circulating supply of 9 billion coins and a max supply of 9 billion coins.
Market Cap Rank: NEM (XEM) has a market cap of $325,319,206 and is ranked 29th.
8. ICON (ICX)
ICON project focuses on decentralized apps (dApps) that allow companies to share information privately. ICON aims to spread its operations to include industries like education, healthcare, banking, and insurance. Currently, ICON (ICX) (8) is trading at $0.132863 with a 24-hour trading volume of $5,642,353. The penny cryptocurrency has a circulating supply of 510 Million coins and a max supply of 800 million coins.
Rank: ICON (ICX) is currently ranked 60 with a market cap of $67,552,954.
9. Tezos (XTZ)
Tezos is a blockchain network dedicated to smart contracts and decentralized applications. This blockchain platform uses the Proof-of-Stake consensus mechanism and allows all stakeholders to participate in the verification of transactions. Tezos raised over $232 million in its ICO in 2017. As of now, Tezos (XTZ) (9) is trading at $1.40, with a 24-hour trading volume of $53,830,943.
Note: XTZ is currently ranked 12th with a market cap of
$974,132,781.
10. Ontology (ONT)
Ontology is another blockchain platform that has the potential to go big in the future. Ontology’s blockchain framework backs public blockchain systems that can be customized for different applications. The platform uses a dual token model ONT and ONG. ONT penny cryptocurrency is used for staking in consensus, and ONG is a utility token that is used on the blockchain platform. Currently, ONT is trading at $0.624752 with a 24-hour trading volume of $64,779,233.
Fact: ONT is ranked 26th with a market cap of $397,337,753 and has a circulating supply of 640 million coins.
Conclusion
These were our picks for the top 10 penny cryptocurrency to invest in. It is highly advised to conduct thorough research before making any investment. Investing in penny cryptocurrency is not promised to yield results 100% of the time, but if you select a project that you really believe in and you are sure of its success, then only you should invest in such projects.
