If you can’t invest in blue-chip cryptocurrencies, penny cryptocurrencies may be a great alternative. These digital currencies will cost you less than a dollar so they are an affordable way to invest in crypto.
However, many investors overlook penny cryptocurrencies because they seem too risky. This is often because such investors do not fully understand the potential of these coins. So to help you out on the subject, we will look at the top 10 best penny cryptocurrencies to buy, an overview of each coin, and why it is worth your investment.
Shiba Inu
- Price at Press time: $0.00001182
- Reddit: 2.3 million members
- Discord: 30,000 members
- Twitter: 3.3 million followers
One of the best penny cryptocurrencies to buy right now is Shiba Inu (SHIB). People knew very little about it when it launched in August 2020 other than it being a cryptocurrency named after a Japanese dog breed. However, Shiba Inu has become both an internet sensation and a valuable token two years later. The coin ranks 16th place with a market cap of $6,478,062,605 on CoinMarketCap. Shiba Inu is a worthwhile investment because this coin is not just a meme token as people know it; it is also part of an ecosystem.
This ecosystem consists of a Decentralized Exchange (DEX) called ShibaSwap, which uses SHIB as its native token to enable staking and trading activities. Another part is the Shiba Inu Incubator, which helps creatives find decentralized tools to make the most out of their abilities, and Shiberse, a Shiba Inu equivalent of the metaverse. The ecosystem also gets more people to use SHIB through partnerships with major companies like Porsche, Binance, Huobi, and OKEx.
These diverse activities give the coin more use cases, which increase its value in the long term. As an investor, a currency with the ability to grow its application is a gem, which is why you should have Shiba Inu at the top consideration when you look for the best altcoins under a penny to buy.
DOGE (DogeCoin)
- Price at Press time: $0.08611
- Reddit: 2.3 million members
- Discord: 30,000 members
- Twitter: 3.3 million followers
Dogecoin (DOGE) is the world’s first meme-based digital currency and among the most lucrative crypto under 1 cent. Jackson Palmer and Billy Markus created the coin in 2013 to be a fun and lighthearted alternative to Bitcoin, which appeared too complex. However, the coin is presently worth more than just a good laugh. Holding 10th place in the CoinMarketCap ranking and a market cap of $11,136,394,976, DOGE is a force to reckon with in the cryptocurrency space.
This coin has received the endorsement of popular names in showbiz like Gene Simmons and Snoop Dogg. It has also won the attention of Tesla CEO Elon Musk, who has posted tweets in support of the coin from time to time. DOGE is also a popular payment alternative for companies like airBaltic, Strange Donuts, Tesla, and 2,000 other businesses.
Such achievements are not a small feat. They show that the coin is a popular alternative for many and that its value has the potential to rise even more should it continue to grow more popular and widely acceptable. This makes DOGE a great sub-penny cryptocurrency to own.
Zilliqa (ZIL)
- Price at Press time: $0.04958
- Reddit: 44,500 members
- Discord: 8,500 members
- Twitter: 453,000 followers
Another promising crypto under a penny is Zilliqa (ZIL). This coin is the brainchild of Xinshu Don and the native token of the Zilliqa blockchain. Zilliqa is a revolutionary blockchain that uses sharding to make databases lighter despite not being very popular. As the token behind such a powerful platform, it’s no wonder Zilliqa is a target for many crypto investors. Since its launch in 2019, the Zilliqa coin has continued to grow, occupying a #72 Coinmarketcap ranking, a market cap of $663,133,756, and an ATH value of $0.2563.
Zilliqa’s main catch is its usefulness in the Zilliqa-powered Metaverse, Metapolis. Metapolis is a Metaverse-as-a-service (MaaS) concept that creates a virtual world for enterprises and luxury brands to showcase and sell their goods using blockchain-based applications. The metaverse is the next big thing in crypto, so a coin that facilitates it is bound to increase in value. Aside from that, Zilliqa owns a secure smart contract language called Scilla. Scilla allows developers to create Decentralized Applications (dApps) and services on the Zilliqa network. This presents an opportunity for scalability and further use of ZIL as a native token.
Coupled with the blockchain’s involvement in e-sports, ZIL makes a worth-it investment. Esports is growing popular by the day, having a value of over $1.08 Billion in 2021.
Therefore, to see Zilliqa partnering with esports gaming companies like Spain-based MAD Lions, Indonesian-based RPQ, and Sweden’s Ninjas in Pajamas is a sign that the token has massive potential to become the next big crypto worth less than a penny.
Chiliz (CHZ)
- Price at Press time: $0.1182
- Discord: 9316 members
- Twitter: 443,000 followers
If you have an edge for sports, Chiliz(CHZ) is one of the penny cryptocurrencies that might catch your interest. The token comes from the Chiliz blockchain, a subsidiary of the Mediarex group. Mediarex is a multinational sports and entertainment firm established in 2006. This blockchain is all about enabling fan engagement through alternative payment solutions, and CHZ is essential in making that possible. Over the years, Chiliz, which ranks #70 in CoinMarketCap rankings, has attained an ATH value of $0.8915 and a market cap of $704,620,129.
One of the biggest offerings of the Chilliz blockchain, where CHZ features the most, is Socios. Socios is a sports fan interaction platform that bridges the gap between sports teams and fans. It incorporates a trading section where you can buy and trade fan tokens that you can use to engage with our favorite sports teams. For example, you can vote for jersey designs, ground names, signings, buy merchandise, and earn rewards.
Chiliz is in partnership with Juventus, FC Barcelona, Atletico Madrid, AC Milan, and PSG clubs. The US NFL and NBA are also getting on board. This makes Chilliz one of the cheapest cryptocurrencies under 1 cent, and with an ever-growing number of sports fans, this coin can turn highly profitable.
Basic Attention Token (BAT)
- Price at Press time: $0.3934
- Reddit: 89,000 members
- Twitter: 262,000 followers
If you’ve ever been curious about how much your attention is worth, the Basic Attention Token (BAT) might have the answer you seek. Courtesy of Brendan Eich, co-founder of Mozilla Firefox and developer of the JavaScript programming language, the cryptocurrency world now has a token that rewards users for paying attention.
BAT ranks #78 on CoinMarketCap ranking, has a market cap of $580,383,526 and has reached an ATH value of $1.92. But, considering the magnitude of online privacy problems that many people experience, this coin has a chance to make it even bigger in crypto.
The Basic Attention Token is a mind-blowing invention that helps you earn from the time spent watching ads and browsing. Instead of invading your privacy and forcing you to watch Ads, you don’t need BAT, through the world’s first global private browser Brave, it ensures users and Ad creators can earn from Ads and browsing.
BAT’s win-win offering has led the Basic Attention Token platform to have 10 million active wallets. The number can easily keep growing and people opt for more control of their browsing and Ad-watching activities. Therefore, BAT is a coin you don’t want to miss out on from an investment point of view.
Tron (TRX)
- Price at Press time: $0.07382
- Reddit: 124,000 members
- Discord: 17,469 members
- Twitter: 1.3 million followers
Whenever decentralization of the internet comes up, Tron is most likely going to be a part of the conversation. This token belongs to the decentralized blockchain-based platform Tron, established in 2017 by Justin Sun. Setting up this blockchain was to ensure digital content creators got full rights to their content and ensure consumers have the means to reward their favorite creators directly. TRX is the token enabling all this.
The Tron token was first an ERC-20 token before moving to its blockchain. This move likely reduced the gas fees needed to acquire the coin and therefore increased the ease of purchase for many investors. So far, Tron’s CoinMarketCap ranking stands at #13. The token has even experienced a 4.76% rise in value and maintains a market cap of $7,623,532,351. Keen investors need to keep an eye on TRX because the coin experiences very low volatility. Although volatility is the norm in crypto trading, Tron has managed to regulate its price fluctuations and maintain a promising 3826.7% ROI.
Decentraland (MANA)
- Price at Press time: $1.14
- Reddit: 87,000 members
- Discord: 161,000 members
- Twitter: 628,000 followers
If you want to invest in the metaverse with crypto that costs less than a penny, Decentraland’s native token Decentraland (MANA) can be your way in. Decentraland is an Ethereum-based metaverse game that Ali Meilich and Esteban Ordano released in 2017.
Despite having limited use outside the game, MANA is a well-performing cryptocurrency. The coin’s ranking on CoinMarketCap at writing is #36. It also has a market cap of $1,825,749,522, and its ATH value, obtained in November 2022, remains at $5.90.
The primary reason why Decentraland is a worth-it cryptocurrency to buy is that metaverse play-to-earn games(P2E) are soon going to be the most widely played virtual games.
This means that tokens connected to NFT games like Decentraland are up for a boom, and therefore you should keep them in mind when investing in cryptocurrencies under a dollar.
Stellar (XLM)
- Price at Press time: $0.1319
- Twitter: 751,000 followers
Another lucrative penny crypto under 1 cent is Stellar XLM. Stellar is the native cryptocurrency of the Stellar network, a decentralized open network that Jed McCaleb launched in 2015. Through this network, you can make or trade digital assets across multiple financial systems, but the requirement is you must first own some XLM.
Stellar has been in the volatile crypto market for seven years and still has a commendable performance. The fact that this token ranks #27 on CoinMarketCap, and maintains a market cap of $3,233,096,778 is impressive. However, the multiple use cases that the coin has gained over time are even more remarkable. XLM uses reach as far as logistics, remittances, and borderless payment transfer industries.
Stellar has also partnered with numerous tech and fintech companies thanks to its real-world use cases. Companies like Grayscale added XLM to its massive crypto trust fund worth at least $1 billion. Stripe too announced plans to substitute bitcoin for XLM on its network, while others like Mobius Network, SureRemit, and Smartland use XLM as their official native token.
Stellar’s multiple use cases and partnerships make it one of the best coins under 1 cent. The coin has a bright future ahead as more finance and tech-based companies begin to adopt blockchain systems. For investors, this coin is an untapped gold mine, especially for investors with an edge in tech or finance.
Ripple (XRP)
- Price at Press time: $0.4192
- Twitter: 2.5 million followers
Despite being a cryptocurrency that costs less than a dollar, Ripple XRP remains one of the best digital coins you can invest in. In 2012, David Schwartz, Arthur Britto, and Jed McCaleb realized the need for a blockchain that operated using less energy than Bitcoin, and Ripple was born. Ripple is a blockchain technology that offers its users enterprise-grade solutions for their financial services. Anything from cross-border payments to crypto liquidity and even Central Bank Digital Currencies (CBDC) are available on Ripple through the platform’s native token, Ripple.
After its decade-long use, Ripple still secures the #6 spot on CoinMarketCap rankings, with a market cap of $19,581,459,081. This is an excellent position for crypto worth less than a penny to hold, and there is reason to believe that XRP has more to offer. XRP promises to be a tremendous penny cryptocurrency courtesy of its partnerships with American Express and Santander. The network is also working with several central banks to help them set up their CBDCs.
These partnerships signal that investors could soon use XRP to speed up cross-border payments and multiple other Decentralized Finance(DeFi) activities. The result will be the coin gaining more value and making a lucrative investment option.
Ren
- Price at Press time: $0.1493
- Discord: 6,048 members
- Twitter: 124,000 followers
REN is another Ethereum-based token to watch out for if you’re interested in buying sub-penny cryptocurrency. The Ren Projects, which uses REN as its native token, is an open-source protocol that allows developers to bring tokens built on other blockchains to their projects without using wrapped tokens. Wrapped tokens are cryptocurrencies whose value is attached to that of another crypto to make them tradable across blockchains.
This multichain project is revolutionary for inter-blockchain operations, which would easily explain REN’s growth in value from an all-time low of $0.01548 to values as high as $0.1496 recorded at writing. A CoinMarketCap ranking of # 164 and a market cap value of $148,640,623 indicate that REN is a flourishing penny cryptocurrency.
There are many reasons REN has a spot among the best cryptos under 1 cent. But, the most notable of these reasons is it resolves the challenge of moving mass crypto-assets between blockchains. Although wrapped tokens achieve the same, Ren is far more efficient and secure.
This platform allows users to lock their digital assets in smart contracts on one blockchain and receive an equal amount of ether on another.
For instance, Bitcoin holders do not have to sell their assets to access Ethereum’s suite of decentralized finance (DeFi) products. These use cases allow investors who have thousands tied up in their long-term investment strategies to bring assets into the DeFi sector and secure low-risk rewards. Ultimately, as the number of investors seeking this alternative increases, so will REN’s value and your profits if you choose to buy the coin.
What Makes a Penny Cryptocurrency Worth Buying?
There are multiple penny cryptocurrencies in the market, making it hard to know which one to buy. Many people will opt to buy the cheapest, but there’s more to a penny coin than how affordable it is. Here’s a breakdown of things to consider before buying a penny cryptocurrency.
- Price: A penny cryptocurrency is any token you can buy for less than a dollar per unit.
- Performance: You want to buy a penny cryptocurrency that shows growth in its market performance from when it launched.
- Community: A wide, active, and well-engaged community isn’t a guarantee that a coin is doing well, but it shows its creator values growth and consistency, which are important for any successful cryptocurrency.
- Growth: You want to know whether this coin has the potential to grow and thrive years later. Look for signs of projects, partnerships, and investments that the token is involved in to identify its growth potential.
FAQ
What is the Best Penny Cryptocurrency to Invest in?
The best penny cryptocurrency to invest in is the one with the most real-world use cases. Such a coin promises a bright future for investors. Compared to other cryptos below penny in our list, Zilliqa has the most real-world use cases. Therefore, Zilliqa carries the win.
What is the Best Coin to Invest in For 2023?
A crypto’s use cases will majorly affect its prices in the future. So, if you are looking for the best cryptocurrency to buy, look for coins that have a more visionary approach to them. As explained on this list, the best coins under 1 cent to shop for are those focused on growth.
What Penny Cryptocurrency Has the Most Potential?
The easiest way to identify penny crypto with the most potential is to look at its use cases and identify the coin with a use case that most crypto enthusiasts are likely to buy into. Coins with use cases that address crypto users’ everyday needs have more potential.
Should I Invest in Penny Cryptocurrencies?
Investing in cryptocurrencies worth less than a dollar can be rewarding, and there are multiple coins you can choose from. However, keep in mind that some coins have an incredibly higher risk while others are safer. So, if you find your favorite penny cryptocurrency, learn all there is to know about it before investing to avoid being blindsided where risks are concerned.
