Penny cryptocurrencies start trading for a few cents or less than $1 per unit, just the same as penny stocks. Even though their small market valuation makes them high-risk investments, they are cheap to buy. Even so, the best penny cryptocurrency to invest in should have a chance of increasing in value over time.
Crypto’s potential depends on a lot of things. It could be the value of the technology or investment behind the project, the community and/or team behind it, or just hype. For cryptocurrencies, you can get these kinds of tokens and cryptos whose value is likely to go up over time because of how they are currently used.
Also Read: Tips for Cryptocurrency Trading
Top 10 Best Penny Cryptocurrencies To Invest In 2023
When we were seeking out the best penny cryptocurrencies to invest in right now, we didn’t just look at their prices. We looked at how its price has moved in the past, how it is most likely to move in the future, and how high it can go in the next few years.
After looking at hundreds of cryptocurrencies and the blockchain technologies that power them, we came up with a list of the 10 best penny cryptocurrencies to buy now and keep for the next few years.
Polygon is the most popular and successful layer-2 protocol for Ethereum. It combines a number of scaling solutions, including all of the roll-up chains, which makes programs built on Ethereum as fast as the ones that were supposed to kill Ethereum.
We expect the price of MATIC tokens to rise quickly in the future, especially as the use of blockchain and crypto technology picks up speed. The main reason we think MATIC is one of the best penny cryptocurrencies to buy in 2023 is because of how quickly the Ethereum ecosystem is expected to grow.
Polygon has also done very well in the past, which is another reason why we think it will be one of the best penny cryptocurrencies in 2023. Polygon also wants to bring its scaling solutions to blockchains other than Ethereum’s. This would make it a highly decentralized and interoperable layer-2 scaling solution.
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Most of these penny stocks can also be actively traded on Pionex, which also has a trading bot that can be used to automate trades for free or for a small fee. This frees up a lot of time you would have spent trading. Pionex is mostly for people who want to use bots to trade crypto for them.
You can either put the reviewed penny tokens in your account or buy them right from the exchange. Sign up, verify your account, and use a credit card to put money into your account. Spot and futures trading of more than 100 cryptocurrencies is possible on the Pionex market.
People who have been on a lot of exchanges know that it is hard to trade less popular crypto pairs with margins on a lot of them. Pionex is also helpful in this regard. It also lets you use margins to sell crypto when the price is going down.
ROSE is one of those “penny cryptocurrencies” that help keep the data economy healthy and can help you make open finance easier. The Oasis Network made a coin called ROSE. They also say that they are very interested in making DeFi scalable and private.
They also make it possible to have smart contracts that are private and to tokenize data. This opens the door to new uses, such as private automated market makers, private lendings, and loans without enough collateral.
4. Shiba Inu
The price of a single Shiba Inu token is a thousand times lower than the price of a single cent, which is one of the reasons why it is so easy for it to make this list of the best penny cryptocurrencies to invest in 2023. Shiba Inu is also a “meme coin” like Dogecoin, which was also a crypto project.
Its value is kept up by the large number of people who use it, so it has become a serious crypto token. It is an ERC-20 token, and its value shot up when word spread that ShibaSwap, its own decentralized cryptocurrency exchange, was coming. It’s interesting that a single SHIB will never be worth anywhere near $1 because there isn’t enough cash in the whole world economy to make that happen.
Ripple was once thought to be the best way to kill Bitcoin. The SEC then filed a lawsuit against the project’s developers. They wanted the 8th most valuable cryptocurrency project to be recognized as a security, and they accused the team of selling unsecured and illegal securities to US residents.
But the ongoing court case hasn’t stopped investors from becoming more interested in Ripple and XRP. It has also not stopped it from forming strategic partnerships with dozens of the world’s most important banks and financial companies. It has also not stopped progress on the Ripple network.
VeChain is a blockchain service platform that is mostly used by businesses that want to stop counterfeiting by using the power of the Internet of Things. It uses IoT to keep track of goods and services and show proof that they are real during trading. Every product has a unique code that can also be tracked on the blockchain.
This makes it possible for a retailer or consumer to know where, when, how, who shipped the product, and other information about the product’s production. Clients can also use the solution to track goods that are in transit to find out where they are going, etc. It is a good penny stock to buy because it can be used in the huge supply and logistics business.
On our list of the best penny cryptocurrencies to buy in 2023, Cardano is the most valuable crypto project. It is the seventh most valuable cryptocurrency project right now, and its price has been between $0.5 and $1.6 for the past six months.
It is also the biggest and most secure platform for smart contracts. But these aren’t the only reasons you should buy a cryptocurrency for less than $5 right now. We put it here because it has a lot of potential and we think its value will go through the roof in the next few years.
If you look at how its price has changed in the past, you will see that the price of ADA tokens and Cardano’s market cap went up sharply every time Charles Hoskinson’s network added a new feature. For example, when the smart contract feature was added at the end of 2021, the price of ADA tokens went up by close to 190%.
Stellar and its cryptocurrency, XLM, are also used a lot in the borderless payment transfer, remittance, and logistics industries. The platform makes it easy, fast, and safe to move assets around the world. On it, anyone can trade, send, and make copies of any form of Bitcoins, Euros, dollars, pesos, or anything else by using Lumens as the exchange token.
The cryptocurrency works as a fast and cheap way to send money across borders, and the platform lets anyone issue tokens through Initial Coin Offerings (ICOs) or token fundraising, just like you can do with Ethereum. If you want to invest in penny cryptocurrencies, look for ones like Stellar that have real-world uses because their base value keeps going up over time.
9. Basic Attention Token (BAT)
It helps readers, content publishers, and advertisers share the money made from ads. When readers use the Brave browser, they can get paid to watch ads without having those ads invade their privacy.
Content creators can also pay for publication and advertising. The browser just passed 25 million monthly active users in February. Even though there is less buzz about using such platforms for publishing, the fact that people are still using them shows that it is still a popular option.
Chiliz is a blockchain platform that includes two other platforms: tokens and socios.com. Socios.com is a crowd-management platform for teams that lets users show their support for their teams and help their favorite teams make decisions.
Fans can vote on things like the design of shirts, the name of training grounds, and so on. Fans of these teams can also use the platform’s fan tokens to vote or trade value. The tokens can also be used as loyalty cards to get discounts on goods and access to special events.
When users buy items, earn rewards, or use the APP, they can get discounts if they have tokens. NFTs, Locker Tokens, CHZ, and Fan Tokens are the tokens that can be used on the platform.