The crypto world is gaining popularity at a rapid rate. In the modern investing space, the best market participants are always looking for an investment that enlarges and expands its equities. Besides, top investors diversify their portfolios.
Penny cryptos trade for as little as below $1 per unit like the penny stocks. Even though they are high-risk investment options due to their small market caps, they’re arguably the cheapest. Furthermore, they have a potential for value increment in the future.
Given that crypto prices have exploded this year, they’re the rage nowadays, and everyone is looking into them. As most people look for affordable investment ways, in this article, we take a look at the top five best penny cryptos to invest in 2022.
How does it work?
Penny crypto refers to a digital currency whose cost must be under a dollar per unit. Therefore, it can be categorized into four categories. These are plentiful cryptos, newly minted, fallen, and stagnant. Cryptos that have a large number of suppliers are categorized into plentiful cryptos. New to the market cryptos are classified into newly minted cryptos. Cryptos used a lot, but whose price took a dip are included in the fallen cryptos category.
Top three things to know before starting:
- These small altcoins have a huge profitability potential; you should invest in them only as much as you are willing to part with them.
- The main benefit of investing in them is that they have a high earning probability.
- Market cap is far more critical than token price. Just because a token is inexpensive at a per token price doesn’t mean that the valuation of the crypto project is also cheap.
For example, YFI trades at $33,000 per token, but its market cap is just $1.2 billion. In contrast, DOGE trades at $0.21, but its market cap is over $27 billion because of the enormous amount of DOGE in circulation. So, it’s harder for DOGE to double in price than for YFI to do so.
Best penny cryptocurrency to buy in 2022
Let’s take a look at the best five cryptos to invest in.
Stellar Lumens (XML)
Stellar Lumens is one of the best penny cryptos in 2022. With this crypto, around $531 million in trading activities is conducted. Also, it has been considered the top 13 cryptos in the crypto world. It allows users to transfer their digital currency to fiat currency at a low cost. Therefore, the Stellar crypto enables the users to cross-border transactions. Moreover, the most significant advantage of this crypto is that it is more accessible than others. It is written in C++, Go, Java, JavaScript, Python, and Ruby programming language.
Price history
Stellar price today is $0.204033 with a 24-hour trading volume of $154,428,879. It has a circulating supply of 25B XLM coins and a total supply of 50B. The current CoinMarketCap ranking is #30, with a live market cap of $5 044 678 698 USD. XLM price is down -0.5% in the last 24 hours.
- XLM hit an all-time high of $0.875563 on Jan 03, 2018.
- XLM had an all-time low of $0.000476123392 on Mar 05, 2015.
Where to buy it?
It is traded on 108 exchanges. If you want to know where to buy Stellar at the current rate, the top crypto exchanges for trading in XLM are Binance, OKX, CoinTiger, Bybit, and Coinbase.
What are the perspectives of the XML?
In May 2022, XLM’s exchange rate is projected to be $0.31 at the beginning and $0.33 at the end of the month. The average exchange rate might be $0.31. The max. value is expected at $0.39 per coin, and the min. might be at $0.27.
The XLM price could cross the average level of $0.51 in 2023. By the end of the year, it’s min. price could be around $0.45. In addition, the coin could climb to the max. price level of $0.64.
Chiliz (CHZ)
Chiliz is a subsidiary of Mediarex Group, multinational sports, and entertainment company created in 2006. After almost two years of innovation and development, the team minted 8.8 billion Chiliz tokens in October 2020. At the time of writing, Chiliz has a market cap of around $1.4 billion.
It is focused not only on real sports but also on virtual. The platform will become the backbone of the Global Player League (GPL). This is the best penny crypto to buy for people who want to invest in sports tokenization. The GPL is a fan-driven, globally scalable eSports League created for today’s gaming and eSports communities, powered by this token. Voting rights purchased for tokens are implemented using smart contracts that allow direct interaction between GPL teams and their fans.
Price history
Chiliz’s price is $0.233901 with a 24-hour trading volume of $89,539,654. Its price is down -1.4% in the last 24 hours. It has a circulating supply of 5.3B CHZ coins and a total supply of 8.89B. The 24-hour trading volume of Chiliz is $89,539,654.
- CHZ hit an all-time high of $0.878633 on Mar 13, 2021.
- CHZ had an all-time low of $0.004108874547 on Sep 28, 2019.
Where to buy it?
It is traded on 75 exchanges, with the top exchanges being Bybit and Binance.
What are the perspectives of the CHZ?
CHZ is a profitable investment based on forecasting. The price of one CHZ can roughly be up to $0.02662894 in one year, a 2X nearly from the current Chiliz price. In 2022, the price of the Chiliz token won’t go up a lot and will cost around $0.02471179. In 2023, the price of one coin can be $0.03042674.
Ankr (ANKR)
Ankr is a crypto-based cloud computing platform. It uses a globally distributed node infrastructure and has multi-chain tools that work across various blockchains.
There are many different uses for Ankr. Developers can use it to build their blockchain projects. Investors can earn rewards with it through crypto staking. It also offers enterprise solutions, allowing companies to use its infrastructure to integrate with Web3.
Price history
Ankr price is $0.076292333324 with a 24-hour trading volume of $11,359,533. The 24-hour trading volume is $11,359,533. It has a circulating supply of 8.2B ANKR coins and a total supply of 10 Billion. Its price has been up 0.4% in the last 24 hours. The current CoinMarketCap ranking is #111, with a $620 296 543 USD live market cap.
- ANKR hit an all-time high of $0.213513 on Apr 16, 2021.
- ANKR had an all-time low of $0.000707282316 on Mar 13, 2020.
Where to buy it?
It is traded on 49 exchanges, with the top for trading are currently Binance, CoinTiger, Bybit, Bitget, and DigiFinex.
What are the perspectives of the ANKR?
There is a strong hope that this crypto may continue its growth until the end of 2022. Most crypto analysts give optimistic price predictions that are, in part, based on its fundamental value, previous successes, and technical analysis. Following our ANKR price forecast, past price data, and technical analysis, its price has all the chances to surpass $0.1 by the end of 2022.
The crypto prices are estimated to cross an average of $0.12 in 2023. According to our price prediction, the token has the potential to reach $0.2 again by the end of 2023.
Ren (REN)
Ren was created in 2017 and is an Ethereum token that enables the open blockchain-to-blockchain crypto transfer mechanism. The supply of this crypto is capped at 100 billion tokens. Ren intends to integrate well-known assets like Zcash and Bitcoin into blockchains like Ethereum.
It has a market capitalization of around $440 million at the time of writing. Essentially, the overriding goal of Ren is to remove hurdles and increase interoperability.
Ren’s sophisticated algorithms and cryptography will facilitate the movement of many digital assets between blockchains. As you can see, this penny crypto provides the market with a valuable service. Many market commentators foresee this being one of the most promising cryptos for investors to add to their portfolios.
Price history
REN price today is $0.327904 with a 24-hour trading volume of $25,045,378. The crypto price is down -0.8% in the last 24 hours. It has a circulating supply of 1B REN coins and a total supply of 1B. The 24-hour trading volume of REN is $25,045,378.
- REN hit an all-time high of $1.80 on Feb 20, 2021.
- REN had an all-time low of $0.015480002696 on Feb 25, 2019.
Where to buy it?
REN is traded on 60 exchanges. If you want to know where to buy Ren at the current rate, the top crypto exchanges for trading are Binance, OKX, CoinTiger, Bybit, and Coinbase.
What are the perspectives of the REN?
Its price prediction for 2022 sees the coin reaching around $0.48 as soon as May, representing a 43% return on investment. It is expected to trade at a similar level by December, around $0.48. The REN price could then rise to $0.53 in April 2023 and $0.54 in April 2024.
Tron (TRX)
Decentralized blockchain-based digital platform Tron was released in 2017 by a non-profit organization. At the time of writing, Tron has a market capitalization of around $6.6 billion. This is the best crypto under a penny for investors looking to buy a digital token with its independent blockchain.
To further explain, Tron began as an ERC-20 token before migrating to its blockchain network. This is significant since it implies ETH blockchain vulnerabilities no longer influence it. Furthermore, by letting developers create smart contracts on Tron, it was given the freedom to flourish freely.
Price history
TRON’s price is $0,062094 with a 24-hour trading volume of $859 348 718 USD. It has a circulating supply of 101 650 540 320 coins, and the maximum supply is unavailable. The current CoinMarketCap ranking is #26, with a $6 311 939 277 USD live market cap. The crypto is down 34% in the last 24 hours.
- TRX hit an all-time high of $0.231673 on Jan 05, 2018.
- TRX had an all-time low of $0.001804341635 on Nov 12, 2017.
Where to buy it?
It is traded on 115 exchanges, with the top exchanges being Digifinex, OKX, and CryptoMarket.
What are the perspectives of the TRX?
With continuous improvements in the TRON network, we can say that 2022 is a good year for this crypto. For this reason, the bullish price prediction of TRON in 2022 is $0.10638. On the other hand, the bearish price prediction for 2022 is $0.05113. Its price is expected to reach $0.32 by 2023.
Pros and cons
| Worth to buy | Worth to getaway |
| They are cheap, and if you get hold of good crypto, it can make you rich. | Small investors buy it, and big investors dump it all, making the coin worth nothing. |
| You can buy several cryptos as their value remains less than $1. | Many such cryptos are of low quality and do not have real-life usage. |
| They show rapid gains in their price primarily because of the large crowd discussing it. | Most penny crypto has low liquidity and can make it challenging for investors to cash out or sell for profit. |
Final thoughts
There’s no denying that investing in penny cryptocurrencies is usually high-risk. However, that comes with gains when things get cheerful in the future. Therefore, you only need to decide and enjoy your investment in penny cryptos.