How to invest in penny cryptocurrencies

Most penny cryptocurrencies are highly volatile, and this can make it challenging to choose potential big winners. That said, once one finds the good ones, the potential returns are worth it. With the huge potential that most penny cryptocurrencies have, we are sure that if one or two of them makes a good run, it can significantly impact our overall portfolio. After a thorough analysis of different cryptocurrencies, we find these three high-growth penny cryptocurrencies worthy of buying today.

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Content:

• How to play safe while investing in cryptocurrencies like Bitcoin
• How To Invest In Cryptocurrency: A Beginner’s Guide
• Penny Stocks Buying Guide For 2022, 3 Tips and Tricks
• 3 High-Growth Penny Cryptocurrencies To Buy
• Guide to Penny Cryptocurrencies for Beginner Investors
• Penny Cryptocurrencies: A Complete Guide
• 7 Best Penny Cryptocurrencies for Investors in 2022
• Here's how much money you'd have if you invested $1,000 in 4 of the top cryptocurrencies this year
• 15 Cheap And Potential Cryptocurrencies To Invest In 2021

WATCH RELATED VIDEO: MICRO PENNY CRYPTO THAT COULD MAKE YOU RICH

How to play safe while investing in cryptocurrencies like Bitcoin

How long will it take you to save up and buy 1 full BTC? Hence, they search for how to buy penny cryptocurrencies as these coins are relatively inexpensive and they can buy hundreds, if not millions of units. While shopping for penny cryptocurrencies is not an entirely bad idea, it might end up being bad if it leads one into buying into a project that has no potential, simply because the coin's price is cheaper. Before we dive deep into penny cryptocurrencies, we'll try to explain what they are in the simplest way possible.

For this reason, we say that VET is penny crypto and Bitcoin isn't. It does not mean that VET has more potential to be a better investment than Bitcoin. You simply get more coin units than you would have if you bought Bitcoin. Additionally, it is worth understanding that price is simply a function of demand and supply.

At the time of writing, 64 billion VET coins are in circulation, compared to The lower the supply of a token, the more likely it is that the price of one unit will be more expensive. As noted earlier, Unit bias the inbuilt human desire to own a full unit of an item instead of a fraction is not enough reason to invest in penny coins.

Project Potential: Despite having a larger coin supply, certain penny cryptocurrencies belong to projects that have a working product and the potential to attract even more users and investors in the future.

Higher Returns: While Bitcoin undoubtedly remains the king crypto, many penny cryptocurrencies although far riskier investments have yielded far greater returns in the past few years. However, it is not unheard of for penny cryptos to pull off such a massive move within the space of a few hours, weeks, or even months.

Such a move is possible because a lower amount of money is needed to move the price of penny cryptocurrencies. Bitcoin, on the other hand, needs many new and big-money investors to move its price significantly. Passive Income: Many penny cryptocurrencies run a Proof-of-Stake PoS consensus mechanism which allows users to earn passive income from staking their coins to secure the network.

The coin works alongside the XRPL Ledger developed by the company and primarily helps financial institutions complete cross-border money transfers instantly and at significantly lower prices. Some of the company's and founder holdings are sold in the open market at times, a development that many believe has suppressed the price of XRP.

Ripple and its founders are currently facing charges from US authorities, but this has not stopped the price of XRP from soaring in recent times. Cardano is a blockchain project launched by former Ethereum co-founder Charles Hoskinson. While major components of the network, such as smart contract functionalities, have taken many years to deploy, the price of ADA continues to soar with the hope that the project eventually delivers on its promises. ADA is often marketed as the "Ethereum killer," even though it has way fewer users and applications built on it at this time.

ADA has a maximum supply of 45 billion coins. Stellar is another cryptocurrency project focused on facilitating micropayments for both financial institutions and mainstream users. Like XRP, transactions with XLM cost a fraction of a cent and the project continues to explore partnerships with payment companies that can adopt the cryptocurrency.

The coin was an attempt to poke fun at the abundant number of cryptocurrencies that were launching that period with little or no utility. Dogecoin, however, would go on to garner more public interest than most of those cryptocurrencies and has survived for almost a decade. The Dogecoin brand features an image of a Shiba Inu dog and the underlying code was forked from the more popular project Litecoin. Dogecoin has an unlimited supply of 10, Doge coins entering into circulation every ten minutes.

That equates to roughly 5 billion coins per year, a fact that most new-age Dogecoin investors probably do not know. In , Dogecoin gained even more popularity being publicly touted by Tesla CEO Elon Musk in meme-like fashion and on several occasions. While public interest has waned since then, DOGE remains a popular penny cryptocurrency and has a loyal community of supporters across social media platforms, notably including Reddit. VeChain is a China-based project with a focus on developing enterprise blockchain solutions.

The project, led by founder Sunny Lu, counts many Chinese and foreign companies as partners. The native blockchain, called VeChain Thor, supports use cases such as supply chain tracing and application development on its network.

The native token VET has a maximum supply of Binance is one of the world's largest cryptocurrency exchanges in terms of the trading volume.

The exchange became popular as a result of its initial business model that prioritized giving investors access to penny cryptocurrencies. Even so, Binance is usually one of the first platforms to list exciting and new crypto projects with a substantial user base. Binance also has Launchpad and Launchpool platforms that give investors access to newly launched tokens before they become publicly available. The exchange also supports multiple fiat currencies, and you can learn more about Binance in our complete review.

KuCoin is another cryptocurrency exchange that launched around the same time as Binance. It offers nearly identical services, although Binance has the upper hand in terms of trading volume and listed pairs. However, you can find a handful of penny cryptocurrencies on KuCoin, including those mentioned earlier. In it, new projects sell their tokens to users before they eventually get listed on the platform. KuCoin primarily supports crypto-to-crypto trading, although you can also deposit fiat via credit or debit card using one of its listed partners.

Kraken launched in and offered one of the first gateways for accessing penny cryptocurrencies. However, the recent proliferation of the market with thousands of coins and Kraken's regulatory status means that the platform no longer supports some of the most widely traded cryptos today.

The good thing, though, is that Kraken still allows for access to some of the most large-cap altcoins and penny cryptos. Kraken users can deposit fiat via bank transfers not bank cards. The platform also allows for direct crypto-to-crypto trading, staking of PoS coins, and a number of other features. Coinbase is not your typical penny crypto exchange. But it makes this list because it is one of the most widely used crypto exchanges and lists large-cap coins on the market today.

The Coinbase interface is great for new investors and allows for fiat deposits via bank transfers, credit and debit cards. Following its public listing on the NASDAQ, Coinbase has promised to accelerate its listing of cryptocurrencies, even disclosing it will soon add Dogecoin to its platform. This development will likely mean that Coinbase will offer investors exposure to more penny cryptos in the future.

SimpleSwap has made the cryptocurrency exchange process simple, safe, and comfortable. SimpleSwap provides two exchange types: floating and fixed rate. You can always choose the most suitable option. Moreover, SimpleSwap offers its customers and partners an Affiliate Program and a Loyalty Program where they can earn crypto cashback. If you want to buy penny cryptos and have them sent directly to your custodial wallet, then you'd probably prefer to use Changelly or other cryptocurrency brokers.

Changelly aggregates a list of platforms where you can buy crypto and allows you to provide an address where the funds will be transferred. As soon as they receive your fiat payment, the coins will be sent to the address you designated.

Using Changelly, you can also exchange one crypto for another, for example, BTC for any supported penny crypto. There is no one-size-fits-all approach to finding the best cheap crypto to invest in. However, you can increase your chances of success by considering the following:.

Development Team: The best crypto projects boast a solid and experienced team of developers and executives. Their portfolios are also easily accessed either on their website or other relevant web pages. Exchanges Listed: When you consider which penny crypto to buy, it is worth finding out on which exchanges the coin is listed must be reputable , and also the trading volume.

That way, you can be sure that there is enough liquidity for whenever you want to sell your coins. Many investors have ended up holding billions of worthless tokens that are not actively traded on any exchanges. Tokenomics: As noted earlier, most penny cryptos have a large token supply. A portion of this supply is usually circulating, while the remaining amount is brought into circulation over time. The release of these tokens usually dilutes the market price of the coin, especially if there is no sustained demand.

The future release of outstanding tokens might make it difficult for the coin to grow in price. Community: Ultimately, a strong community plays a significant role in the success of a crypto project.

They are usually the ones hard at work promoting the asset or product and trying to onboard new users. You might find it helpful to hang around online communities Telegram, Reddit, Discord for whichever coin you want to buy, and gauge the sentiment of earlier investors. Price History: Review historic price action for each coin on your radar, considering previous all-time highs and lows. Buying a coin when the price is near the top, ultimately means you might have to wait longer to realize any substantial returns.

For instance, small amounts that are to be moved regularly are often best stored on a custodial mobile or desktop wallet. Substantial amounts are best stored on a hardware wallet that stores the private keys completely offline. With those points in mind, here are some apps and devices where you can store your coins. This article provided a clear overview of penny cryptocurrencies, including the most popular ones, where to buy and store them, and the risks and rewards associated with holding these assets.

When done right, one can generate massive returns from investing in penny cryptocurrencies. If you choose to go down the path, carefully evaluate your risk appetite and then research and pick your coins wisely.

Hold them for as long as you can, and you probably might be rewarded in the end for making the right call. Blog wallets trading review beginners buying finance mining local calc earn interview.

Wilfred Michael. Table of Contents What are penny cryptos?

How To Invest In Cryptocurrency: A Beginner’s Guide

The top cryptocurrencies are attracting investors looking to diversify their portfolios. Now many growing companies are accepting cryptocurrencies as legitimate means of payment, now is a good time to invest in cryptocurrencies based on your budget. Here's a guide to help you figure out which coins are the best to invest in now. Here are some inexpensive coins that appear to be decent investments in , as there are a lot of choices for the cheapest Altcoins with potential.

Penny Stocks Buying Guide For 2022, 3 Tips and Tricks

Not sure what are penny cryptocurrencies? Clear linking rules are abided to meet reference reputability standards. Only authoritative sources like academic associations or journals are used for research references while creating the content. If there's a disagreement of interest behind a referenced study, the reader must always be informed. In this day and age, it would probably be difficult to find a person that has never heard about Bitcoin and cryptocurrency exchanges. This cryptocurrency has skyrocketed the crypto industry into the mainstream - increasingly more people today want to have a share in what this market has to offer. However, Bitcoin and Ethereum aside, not everyone has heard about penny cryptocurrencies. As you can probably imagine, most of the cryptocurrencies that currently exist in the market can be classified as penny cryptos. Even though the names and prices of crypto coins are often thrown around in various discussions , attention is rarely put on why these coins are priced the way that they are.

3 High-Growth Penny Cryptocurrencies To Buy

With some cryptocurrencies like Bitcoin and Ethereum giving investors huge returns in the past few months, beating all other forms of investment in assets, retail investors are now dipping their toes into the water. The trouble is, not many understand what it means to invest in cryptocurrencies. A recent poll on Financial Express Online showed that About 15 percent said they would get in for quick gains.

Guide to Penny Cryptocurrencies for Beginner Investors

Thanks for contacting us. We've received your submission. In fact, understanding how to invest wisely can help you make a profit, increase your business analytics skills, and help you join in on dinner party conversations. This training bundle features 11 courses aimed at helping you invest wisely. With more than 54 hours of training included in the bundle, you will learn everything from beginner tips and tricks all the way to trading like a pro. You will learn the most important investing strategies, how to trade penny stocks, the ins and outs of cryptocurrency, technical analysis using Elliot Wave Theory, and even build knowledge around investing in real estate.

Penny Cryptocurrencies: A Complete Guide

Invariably, investors are hearing calls of "buy the dip" but often not much beyond that. Igneus Terrenus, head of communications at the cryptocurrency exchange Bybit , said that the pullback "could be a window of opportunity for investors who have been eyeing on the space and waiting for the right time. Terrenus said that the first thing for the average investor to consider is the time frame of their investment. Therefore he said, "an investor should have a realistic evaluation of their own risk appetite before diving into any project and adjust their strategy accordingly. Yubo Ruan, founder of Parallel Finance , said that "dollar cost averaging is a great way to buy the dip. Consider These Investing Strategies.

7 Best Penny Cryptocurrencies for Investors in 2022

These are all forms of cryptocurrency that gained attention for their astoundingly quick growth in value. But have you ever heard of penny cryptocurrency? Is it a wise investment?

Here's how much money you'd have if you invested $1,000 in 4 of the top cryptocurrencies this year

RELATED VIDEO: Best Penny Cryptocurrency to Invest in 2022

The Bitcoin millionaire yacht has already sailed, but investors can find other promising and cheaper altcoins. Much like penny stocks, the penny cryptocurrencies are very cheap coins worth a few pennies. Their low price helps drive volatility and upward momentum. With so many altcoins to choose from, picking out the best penny cryptocurrency to invest in can be overwhelming.

15 Cheap And Potential Cryptocurrencies To Invest In 2021

The cryptocurrency market is becoming more popular and is particularly popular among speculators. CNBC and other financial networks have price tickers on their screens that indicate the current value of Bitcoin. I must first mention the following caveats to illustrate the significance of penny cryptocurrencies. It is because penny cryptocurrencies are relative terms. Today, most penny cryptocurrencies currently available on the market are priced at about a penny. With the rise of the cryptocurrency market over the past year, traditional coins like the penny have also increased.

Signing out of account, Standby Wondering how to trade penny stocks in ? Here are three tips and tricks to do just that.