10 Best Penny Cryptocurrencies To Invest In 2023
The definition for penny cryptocurrencies is quite simple — these are digital assets with a value lower than $1. There are plenty of such cryptocurrencies, and even though many of them are extremely risky because of low market cap, crypto enthusiasts fall for them because they are low-priced and a potential increase might bring great returns.
It’s a difficult task to predict whether a crypto under $1 will ever be worthy of something. There are too many factors that make such assets volatile. Nevertheless, we tried to find the best penny cryptocurrency to invest in 2023. We hope that these tokens will not let their communities down and will be able to generate more value in the coming years.
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How to buy crypto on PrimeXBT
Before we start exploring the best penny digital coins, however, you should learn how to buy penny cryptocurrencies. We suggest that purchasing them on the PrimeXBT exchange is the safest and fastest way to do this. Here are the steps you need to take to buy crypto on PrimeXBT:
- Create a trading account on the PrimeXBT platform. This provider doesn’t require verification. That’s why the registration procedure can be completed in several minutes.
- Replenish your newly created account. At first, it might seem inconvenient for those who don’t have other crypto wallets because PrimeXBT accepts payments in BTC. However, you can use the suggested third-party services to convert your fiat money into digital coins.
- Go to the “Trade” tab and find the asset you are going to purchase. PrimeXBT lists over 40 cryptocurrencies, so you will find your best crypto under 1 cent.
- Enter the amount you want to invest in a new digital asset.
- Examine the detail of the operation and confirm it by clicking the “Buy” button on the tab.
The biggest benefit of this trading platform over competitors is that it stores the vast majority of digital assets bought by the users on cold storage. This is the most efficient way to secure crypto holdings. As Jack W. wrote on Sitejabber: “From PrimeXBT reviews I found that withdrawal of finances, replenishment of the account are simple procedures. And it’s true. Everything is fast and safe.”
Comparison Table of Some Best Penny Cryptocurrency
| Crypto | Symbol | Current Price | Market Cap | Best For |
| Chiliz | CHZ | $0.1383 | $928 million | buying fan tokens of sports teams |
| Dogecoin | DOGE | $0.082 | $10.9 billion | quick and cheap crypto transactions |
| Polygon | MATIC | $1.31 | $11.4 billion | DeFi projects |
| Shiba Inu | SHIB | $0.00001282 | $7 billion | high-risk investments |
| TRON | TRX | $0.068 | $6.3 billion | DApps |
| VeChain | VET | $0.028 | $2 billion | supply chain management |
| XRP | XRP | $0.3814 | $19.4 billion | quick cross-border payments |
| Cardano | ADA | $0.37 | $12.9 billion | development and resource-saving |
| Cronos | CRO | $0.08147 | $2 billion | DeFi projects |
| Stellar | XLM | $0.08957 | $2.3 billion | quick cross-border payments |
Chiliz (CHZ)
Chiliz is the cryptocurrency of the same-name ecosystem, whose major feature is the socios.com platform. It was designed to provide fans with the possibility to support their favorite sports teams. They also can use this platform and their holdings in tokens to take important decisions for the team.
Teams that issue their own tokens are very popular these days because this is a form of investment in a favorite team. Loyal fans like this opportunity and socios.com enable it. Thus, the CHZ coin will grow in value alongside the growing popularity of this function.
Dogecoin (DOGE)
Dogecoin was founded as a meme cryptocurrency to mock Bitcoin. However, it gained such huge popularity that it actually improved the Bitcoin ecosystem and evolved to the launch of its own network. Besides, DOGE has a very loyal community of supporters who constantly promote the project on social media. They have already made fantastic promotional initiatives that brought a project to a much higher level. As a result, even Elon Musk became a supporter of the coin.
Polygon (MATIC)
Polygon works on the capabilities of the Ethereum blockchain. The major purpose of this Layer-2 scaling solution is to make transactions faster and cheaper by reducing gas fees. Polygon is a great solution for DeFi projects. Besides, it doesn’t lack adoption — its team has already established reliable partnership ties with businesses across the globe. The ambitious goal and the popularity of the platform make its toke, known as MATIC, a very lucrative penny investment.
Shiba Inu (SHIB)
Shiba Inu can be considered the best crypto under a penny. It has an extremely low price, and it’s one more factor that facilitates the interest of crypto enthusiasts. It’s interesting to discover that Shiba Inu is a meme coin but it’s the only meme coin so far that has managed to reach close to the first crypto joke – DOGE. Except for having a funny logo, Shiba Inu has a well-developed ecosystem that introduces new tools and tokens and facilitates the smart use of smart contracts.
TRON (TRX)
Experts say that TRON will thrive if its capabilities will be enough to cope with the growing interest to decentralized applications. Also, this platform is reaching out to the entertainment niche, which might be a good step in terms of approaching a new audience.
TRON has a strong community of supporters and great relationships with its partners. Its steps toward such niches as gaming make many enthusiasts believe in its successful adoption.
VeChain (VET)
You should consider investing in crypto projects that are trying to reach industries beyond the market of digital money. VeChain can be considered such an investment. This platform was designed for businesses that want to boost the quality of their performance using IoT technology.
VeChain acquired great usage in the logistics sector. It facilitates the technology of blockchain to provide efficient tracking of goods shipped overseas. Such a service makes things much easier for both retailers and their customers.
XRP
XRP has acquired immense popularity thanks to the introduction of the concept of quick and low-price cross-border transactions. This allows the platform to establish partnerships not only with commercial businesses but with financial institutions as well. XRP might be one of the biggest breakthroughs in the financial sector, and that’s why investors shouldn’t miss the opportunity to learn more about the capabilities and prospects of this solution.
Cardano (ADA)
Except for being one of the most popular penny cryptos, Cardano is also frequently regarded as one of the best altcoins to invest in 2023. Indeed, it has great prospects thanks to its energy-efficient proof-of-stake consensus mechanism. This makes Cardano one of the best alternatives to Ethereum.
What makes current Cardano better than all the other Ethereum killers is its highly scalable architecture. The future introduction of innovations is very likely to generate more value for the token, which is why the beginning of 2023 might be the best opportunity to buy it.
Cronos (CRO)
Cronos is a decentralized finance (DeFi) platform built on the Ethereum network, focused on interoperability with other blockchains. Its potential for cross-chain communication and seamless interoperability, along with its low transaction fees, make it an attractive investment option for those interested in the DeFi sector.
Stellar (XLM)
A virtual coin will grow in price if it will be adapted for different use cases. Stellar Lumens, with the token traded under the XLM symbol, suits this description better than any other cryptocurrency on this list. It is mainly known for the fast processing of cross-border transactions and making efficient conversions of different types of currencies. However, it has a wide selection of use cases beyond that field as well. That’s why we consider it has great prospects for further growth.
Pros and cons of penny cryptos
✅ Pros:
- Even if such assets eventually reach the point of $1, this might bring potentially good returns due to initially low prices.
- Low capital is required to buy a big quantity of coins under $1, which makes such investments affordable to beginning investors with small budgets.
- Investing in cheap cryptocurrencies is a chance to reveal a potentially thriving digital project that will bring huge returns in the long run.
❌ Cons:
- The majority of cryptocurrencies under $1 lack liquidity, which makes them extremely volatile.
- Small projects lack decentralization, which might lead to price manipulations by holders with bigger budgets.
- This segment of the market lacks transparency and regulation.
Conclusion
To sum it up, penny cryptocurrencies are good investments if you want to gain exposure to a huge cryptocurrency market that is constantly evolving. At the same time, you should never neglect risk management measures. This involves both choosing safe assets and working on reliable exchanges. Carry out your own extra research to find out which token should be added to your crypto portfolio.
F.A.Q.
Which penny cryptocurrency should I invest in?
Invest in coins with better liquidity. From the above-mentioned list, Cardano and Polygon are the best options to meet this requirement.
What is the best coin to invest in?
The best coin for investment is the one that has wide usage and adaption in the crypto industry and beyond. BTC and ETH are considered the most well-established investments in crypto.
What is the cheapest crypto to invest in?
Shiba Inu is one of the cheapest coins you can buy.
Which crypto is under a dollar?
DOGE, SHIB, XLM, CRO, ADA, and VET, are just several cryptocurrencies worth smaller than one dollar.
Where I can buy crypto under 1$?
PrimeXBT is a reliable exchange with a good selection of penny cryptocurrencies.
About The Author
Chris Hill
I’ve been working as a financial advisor in Newcastle for many years. But over these years, I didn’t manage to find something that would be more motivational than clients who make their money work and bring additional gains.
Thank you for your article!