In the investing world, it is said that the best investor is one who diversifies their portfolio. This is absolutely true, which is why today people seek out reliable resources to help them build such a diverse portfolio and get the highest return on investment opportunities. Since the advent of cryptocurrencies such as Bitcoin, Ethereum, and others that have reached new highs in terms of value, many people have started to invest in cryptocurrency in hopes of building a potentially sound investment portfolio. Finding the next best penny cryptocurrency to invest in will be a huge challenge with 100’s of useless coins poured into the market every day.
There are thousands of cryptocurrencies that are available in the market today, but this doesn’t mean they’re all legit. In fact, only a handful of them has the potential to really be an investment worth making. The big ones like Bitcoin and Ethereum are obvious choices to consider when it comes to investing in cryptocurrency because they’ve proven time and time again their potential for growth, though there are also dozens of cheap alternatives out there in the form of penny coins with even more potential (we’ll discuss some of these later on).
What are Penny Cryptocurrencies?
It is a cryptocurrency that you can buy for less than $1. They are very similar to penny stocks, and as such they have risky profit potentials – one of the highest in fact. The major advantage of investing in them is that they are easy to exchange and they sometimes reward greater amounts than other investments with the same return on investment overall!
Penny crypto coins examples like Dogecoin, Shiba Inu, Safemoon, XRP..etc
Cryptocurrency is often subject to dramatic fluctuations in price based on changes within their respective communities and overall market sentiment.
Now, let’s get into the list of the best penny cryptocurrency to invest in 2023.
10 Penny Cryptocurrency To Invest in 2023
Below are top 10 cryptocurrency coins that can be bought for under $1 and have great growth potential in the next few years.
1. Cardano (ADA)
Cardano is a popular crypto project and is referred to as the “third generation blockchain” because it focuses on deploying features that solve some of the issues faced by other cryptocurrencies. These features include scalability, interoperability, and even sustainability/environmental friendliness. This is our top list of best penny cryptocurrencies to invest in this year.
Cardano has quite an ambitious goal of becoming fully decentralized. They also have a low transaction rate which is ideal for people who want to handle more transactions
Their price is currently $0.97 and that has increased because of the new update of building smart contracts, enabling developers who are ready to start working on dApps to now do so on a Defi blockchain. This means they can build, program and create Ethereum-powered applications with ease.
2. Ripple (XRP)
Ripple is a technology platform that enables faster settlement, reduces cost and introduces new features to improve efficiency in payment and settlement systems. There are validators instead of miners which means they have a different way of updating ledgers called Ripple Consensus Protocol.
Ripple has reached its highest price in January 2018 when the price was $3.5; currently, it is priced at $0.82. XRP being attached to it means that you can make international transactions within seconds which would otherwise take long hours if done through a bank.
The Ripple network processes significantly more transactions than Bitcoin each and every single second, in fact, it is capable of handling well over 1500 transactions per second. This makes the network much faster and more scalable than the other options available.
So this is one of the best penny cryptocurrency to invest in 2023.
3. Polygon (MATIC)
Polygon Network, officially known as Matic Network, is an Ethereum-compatible blockchain interoperability and scaling framework. They aim to address a few limitations of the current Ethereum platform in terms of scalability and community governance, thereby giving way to a better user experience. It also hopes to incentivize developers who wish to build dApps with faster transaction times by providing them with the means to do so.
This is one of the best cryptocurrency to invest in this year.
A few months ago MATIC’s price went through roof to $2.89 per coin, also, their team includes of excellent Ethereum developers and blockchain influencers like Ryan Sean Adams, Hudson Jameson, Anthony Sassano, and John Lyric as advisors.
4. Stellar Lumens (XLM)
Stellar is an open-source public ledger that allows you to create and destroy tokens according to a fixed rate of inflation. In 2014, Jed McCaleb co-founded Stellar Development Foundation. The Stellar Development Foundation is a non-profit organization that is mainly aimed at developing a platform for the distribution of cryptocurrency throughout the world, but one in particular that will allow people at all income levels to carry out low-cost financial transactions.
Some of their main services include mobile money, remittances, mobile branches, and micropayments just like any other crypto exchange.
The stellar coin has seen unprecedented growth year to date. They have reduced the cost of moving money across international borders, giving more people equitable access to the global financial system. Currently, it is trading at $0.20 each and holding a $4 billion market cap; this makes for a great time to invest in XLM coin!
5. Dogecoin (DOGE)
Dogecoin – the second most well-known cryptocurrency in circulation. The currency was launched in 2013 and already has over a $1 billion market value. Elon Musk’s public declaration on Twitter of his intention to release crypto tokens on the Ethereum network played an important role in bringing Dogecoin into the list of the top best cryptocurrencies to invest in 2023.
It reached all time high price of $0.68 in 2021, even though the price fell when the market crashed recently time, the current price is $0.12 is the cheapest price to get now.
It has been around since 2009 and has a market capitalization of over $80 billion. It started off as the first decentralized digital currency but has since become an established platform for many endeavors to grow. So, do keep eye on this one in 2023.
6. Shiba Inu (SHIB)
No one thought this one became a top 10 crypto coin to invest in until their community of holders became aggressively loyal to its growth.
Shiba is an ERC-20 token named after the currency of the official community called Shiba Inu. It’s a “currency of a community” or so it says in the official website of Shiba Inu. Also, one of the cheapest cryptocurrency to buy in 2023.
The creators of Shiba are inspired by the example of WallStreetBets which increased the price of some stocks and companies. The Shibas are growing exponentially, their number exceeds 120,000, hence they call themselves Army. So, this may be the next cryptocurrency to explode in this year.
The token is said to focus on overcoming the value of Dogecoin without going above $0.01 and at the same time, exceed its total cap without reducing the price. The supporters of the project insist that this will be possible due to a number of notable features that it offers.
In recent times, SHIB burning happening faster and there is a Twitter account alert whenever SHIB burn happens. Also, some of the charities started accepting SHIB as a payment option as well. So it is one of the popular Penny Cryptocurrencies to invest in 2023.
7. Ravencoin (RVN)
Since its inception back in April of 2018, Ravencoin (RVN) has been a revolutionary way to ensure ownership of assets while also earning returns on them. Launched as an ERC-20 token, it was soon discovered that RVN is better as a standalone digital asset.
Unlike Ethereum which works with smart contracts, Ravencoin uses the X16r hashing algorithm which means that each block has 16 times the space to store hashes. It is mainly used for issuing tokens and creating assets within blockchain incubators built on RVN.
In 2021, this coin price reached $0.22 and is now at a $0.059 low, So this one is ticking to explode when the market returns back to normal soon.
8) Zilliqa (ZIL)
Zilliqa is one of the world’s first blockchains created on a sharded architecture. It is the only blockchain that currently features sharding- which means it can process transactions faster and more efficiently than most other blockchains like Ethereum or EOS, even though it coats their technology.
Their rapid growth in use- particularly with major projects like Klaytn (their equivalent to WeChat) and Scatter (blockchain game building platform)- makes us feel optimistic about ZIL’s place in this list as well as its upcoming evolution.
ZIL is a currency with strong fundamentals that are supported by big investors. Currently, the price stands at $0.046; it may be a great time to invest!
9) VeChain (VET)
VeChain is a blockchain-based solution that aims to provide solutions to issues related to supply chain processes. The company itself was established by becoming one of the first startups to join Draper Dragon – an influential incubator in the world of Fintech and blockchain.
VeChain is currently backed by some of the biggest names in business, including DNV GL (a subsidiary of DNV – which is itself an affiliate of PwC), PricewaterhouseCoopers, China Unicom, and even Groupe Renault.
So, keep eye on this one, VET is a market growing leader and is worthy of attention as a cheap crypto coin to buy.
10) Chiliz (CHZ)
This is a blockchain platform that recently saw an increase in value thanks to the excitement surrounding fan tokens. Chiliz is powering Socios.com, a fan engagement service that allows sports teams to offer fans special advantages like early access to tickets, voting on team jersey designs, or other fun activities! These perks are then put up for sale as “fan tokens”. One of the best altcoins to invest in the market right now.
Fan Tokens are pretty popular with football teams in Europe and other sporting competitors globally. So if you’re a sports person, you’ll have the opportunity to interact with your favorite team, along with making some money in the process.
So, do add it to your list of best penny cryptocurrency to invest in 2023.
11) SafeMoon (SAFEMOON)
SafeMoon (SAFEMOON) is a relatively new cryptocurrency that gained popularity for its unique tokenomics and community-driven approach. Launched in March 2021, SafeMoon aims to provide a decentralized financial ecosystem that rewards holders and discourages short-term trading through its tokenomics model.
One of the key features of SafeMoon is its automatic liquidity locking and reflection mechanism. When transactions occur on the SafeMoon network, a portion of the transaction fee is automatically locked into a liquidity pool, while another portion is distributed to existing holders as reflections. This means that the longer a user holds SafeMoon tokens, the more tokens they may receive through reflections, incentivizing long-term holding and discouraging frequent buying and selling.
12) Holo (HOT)
Holo (HOT) is a cryptocurrency that is part of the Holochain ecosystem, which aims to provide a decentralized, scalable, and energy-efficient platform for building and hosting decentralized applications (dApps).
Holochain is a peer-to-peer (P2P) framework for building dApps that is designed to be more efficient than traditional blockchain technologies. Unlike blockchain, which relies on a single, global consensus algorithm to validate transactions, Holochain uses a distributed hash table (DHT) to enable individual dApps to have their own separate chains with their own rules and consensus mechanisms. This approach allows for greater scalability, as each dApp can process transactions independently, without the need for all nodes in the network to validate every transaction.
13) Verge (XVG)
Verge (XVG) is a privacy-focused cryptocurrency that aims to provide secure and anonymous transactions on a decentralized blockchain network. Launched in 2014 under the name “DogecoinDark” and later rebranded as Verge in 2016, it is designed to be a fast and efficient cryptocurrency for everyday use.
Verge utilizes several privacy-centric technologies to ensure the confidentiality and security of transactions. One of the key technologies employed by Verge is the use of the Tor network, which helps to obfuscate the IP addresses of users and make transactions more difficult to trace. Additionally, Verge also employs a feature called “Simple Payment Verification” (SPV) that allows for faster transaction confirmations compared to some other cryptocurrencies.
14) Siacoin (SC)
Siacoin (SC) is a cryptocurrency that is designed to serve as the native currency for the Sia network, a decentralized cloud storage platform. Launched in 2015, Sia aims to provide a more efficient, secure, and cost-effective alternative to traditional cloud storage services by leveraging blockchain technology.
The Sia network is based on a peer-to-peer (P2P) architecture where users can rent out their unused hard drive space to create a decentralized storage network. Data uploaded to the Sia network is encrypted, divided into multiple pieces, and distributed across multiple hosts in the network, providing redundancy and ensuring data durability and availability. Users who want to store their data on the Sia network pay with Siacoins to the hosts in the form of rent, and the hosts are compensated for their storage services with Siacoins.
15) Nano (NANO)
Nano (NANO) is a digital cryptocurrency that aims to provide fast, feeless, and environmentally friendly transactions for everyday use. Launched in 2015 under the name “Raiblocks” and later rebranded as Nano in 2018, it is designed to be a decentralized, scalable, and secure form of digital currency. Nano utilizes a unique consensus algorithm called “block-lattice,” which is different from the traditional blockchain model used by many other cryptocurrencies. In the block-lattice architecture, each user account has its own blockchain, which contains only its transaction history. This allows for individual transactions to be processed independently, eliminating the need for miners and transaction fees. As a result, Nano transactions are typically processed instantly and without any transaction fees, making it suitable for microtransactions and day-to-day transactions.
Where To Buy Penny Cryptocurrency?
One such exchange available is Binance, a cryptocurrency exchange platform. It supports more than 130+ coins along with BTC and ETH – this also includes some low-priced or inexpensive cryptocurrencies called “penny” coins.
Also, there are notable exchanges like Coinbase, OKEx, KuCoin, WazirX, Bitfinex, and more.
This is a list of some of the best penny cryptocurrency to invest in 2023, but we would advise you to do your own further research about these currencies as well as other potential ones for you to invest in since not all will be a good fit to everyone. The reason behind this is simply that by doing more research, you will gain better knowledge of the crypto world and can get rid of any doubts you have about investing.
Remember to take your time when investing in cryptocurrencies, don’t jump into any investments or decisions too quickly and instead double-check everything with forums online where people who are experts in the field can give you their opinions as well as other related sources before you invest.
Let us know your favorite penny crypto coin of yours in the comment section below.
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Senior Writer, has been with Rottenpanda.com since 2017. With a bachelor’s degree in communications, Nick specializes in finding interesting topics, gathering details, checking facts, and making complex subjects easy to understand. In addition to writing articles, Nick loves traveling, pets and happily married to Lucy.