Cryptocurrency is the rage these days but is there any options for cryptocurrency under a penny? Let us find out.
Crypto less than a penny – What are your options?
Like penny stocks, penny cryptocurrencies can be traded for less than $5 per unit. Traders still indulge in penny cryptocurrency trading because of their small market capitalization. The best penny cryptocurrency must give good returns over time; else, it does not make sense. Various factors determine the potential of a cryptocurrency.
Before you know the list of the cryptos under 1 cent to invest in, let us find out how you will zero in on the right kind of crypto under a penny.
How will you find the best penny cryptocurrency?
Check this out.
-
Do your bit of homework
Spend some time online to find out which penny cryptocurrencies are the best and the ones you can afford to invest in.
-
Opt for a particular supply range and market cap
For circulating supply, a range between 10 million to 1 billion coins is ideal.
-
Listed on crypto exchanges
If you have decided to trade a particular cryptocurrency, make sure the digital currency is listed on the major crypto exchanges like Coinbase, OKEx, Bitmex, etc.
-
24-hour volume trade
Ensure that the coin you are planning to trade has a 24-hour volume traded, which is not below $1 million.
-
Past trading history
The coin you choose must have a good trading history, the future projections look good, and the market performance is commendable.
List of penny cryptocurrency with the potential for good returns
These are the cryptocurrency under one penny you can invest in as of February 2022.
-
- Lucky Block (LBN) crypto has become very popular following the pandemic. This platform uses decentralized smart contracts so that the calculations performed are fair and random in number generation, faster payout, rewards, and fund distribution. The players are not restricted geographically.
- Dogecoins (DOGE) is often referred to as meme coins. The algorithm used in this work based on proof of work mining is similar to Bitcoin and has made many investors millionaires. It is used as a payment token on many platforms.
-
- Ripple (XRP) is one of the better cryptocurrencies available, and it has been in this market since around 2012. The platform functions as a payment model, and it is a protocol that many banks have been using for global transaction processing.
The three names mentioned above are just a few available in the market. There are a few penny cryptocurrencies like Stellar (XLM), Ravencoin (RVN), and more.
