With the ever-changing world of cryptocurrency and blockchain technology, it can be challenging for investors and enthusiasts alike to keep track of all the coins with actual market value. Of course, there are those cryptocurrencies that have failed their mark completely however still offer an opportunity for potential growth.
The lower the market cap of a cryptocurrency, the higher probability it carries to grow exponentially.
Most new cryptocurrencies are built with the purpose of decentralizing existing things, making them more secure and efficient, or otherwise improving on some type of business model.
It is therefore fitting that investing in penny cryptocurrencies can be a worthwhile endeavor. This is because low market cap coins usually have the greatest potential to increase exponentially in value, all other factors being equal.
Here is the list of Best Penny Cryptocurrency to Invest this Year
1- Ripple (XRP)
Ripple is one of the most popular currencies at the moment and even though it is trading between $0.80 $1.00 and is still one of the best penny cryptocurrencies to invest in.
Ripple has also made its entry into cross-border payments which can make it a strong contender for the title of global reserve currency once Bitcoin loses value and people realize Bitcoin can’t function as a fiat replacement.
It also has the second-largest market capitalization of all cryptocurrencies at this time after Bitcoin.
2- Stellar Lumens (XLM)
Stellar Lumen is an open-source cryptocurrency that was founded in early 2014. This coin uses the same consensus ledger as Ripple, which were the most notable of its early investors.
The official ticker symbol for Stellar Lumens is XLM and it has a total supply of around 103 billion tokens with a current circulating supply of 18.4 billion tokens which makes this a very popular choice among cryptocurrency enthusiasts as well as the best penny cryptocurrency to invest in currently.
3- Basic Attention Token (BAT)
Basic attention token is a digital advertising platform built on the Brave browser. The coin uses Steem’s blockchain technology and was developed by Brendan Eich who also co-founded Mozilla Firefox and JavaScript. BAT has a market capitalization of $572 million and only 500,000 BAT tokens are currently circulated as opposed to the total supply of 1 billion.
This makes it one of some of the best penny cryptocurrencies to invest in due to its lower circulating supply and higher real value per token compared with other cryptocurrencies.
4- Cardano (ADA)
This digital currency is a blockchain-based platform that was founded by Charles Hoskinson who has also worked for other notable platforms such as Ethereum and BitShares. The platform offers special features like compliance, identity management, etc., similar to what Ethereum is providing with the ability to support smart contracts.
It has a market capitalization of $3,231 million which is lower than most cryptocurrencies but it has been able to maintain its value fairly well over time, giving it a strong case for becoming one of the best penny cryptocurrencies to invest in the long-term.
5- Ravencoin (RVN)
This cryptocurrency was developed to function as a peer-to-peer transactional system that allows users to send tokens back and forth with ease. Ravencoin is based on a fork from Bitcoin which makes use of a specialized programming language for this blockchain.
It has a market capitalization of $250 million and while it is currently trading at $0.1083 it was at its all-time high in January 2018 when it reached $0.96596 per token and gave its investors an opportunity to invest in the best penny cryptocurrency to invest at that time.
6- Zilliqa (ZIL)
This is a public blockchain platform that was created by researchers at the Singapore University of Social Studies with the aim of offering scalable smart contracts with secure data analysis. ZIL has a total supply of 21 billion tokens and a market capitalization of $542 million.
The token has had a troubled time in recent months, mostly due to the bear market in cryptocurrencies which started in January 2018. However, if it manages to survive and prosper through these tough times and its developers prove able to deliver on its promises it is likely to be one of the best penny cryptocurrencies to invest in 2021.
7- VeChain (VET)
This digital currency was developed by a Singapore-based non-profit organization called the VeChain Foundation which was launched in early 2018. This cryptocurrency has a market capitalization of $1,275 million and is used to verify the authenticity of products on its blockchain.
The token was initially introduced at $0.25 but since then it has dropped by 94% to the current trading price of around $0.1059 each which makes it one of the best penny cryptocurrencies to invest in due to its real value per token.
8- Doge Coin
This cryptocurrency project started as a joke, based on the popular internet meme of Shiba Inu Doge but it has remained popular over time and was able to survive the cryptocurrency bear market which lasted from January 2018 until September 2018.
It has a market capitalization of $331 million and was introduced at the initial token price of $0.00086 which gives it an upper hand when compared with other cryptocurrencies in terms of its real value per token. It is currently trading at around $0.002 each, well within penny cryptocurrency territory.
9- Polymath (POLY)
This is a platform which offers individuals and businesses to create and issue financial products such as stocks, bonds, futures, etc. on the blockchain. It has a market capitalization of $212 million and was introduced at an initial token price of $0.05 so it could become one of the best penny cryptocurrencies to invest in 2021.
10- Chiliz (CHZ)
The Chiliz token is used by the FIFA online media company and therefore, its value is directly related to the demand for FIFA products and services.
It has a market capitalization of $103 million and has been trading at around $0.09 since its launch in 2018 so it could be the best penny cryptocurrency to invest in 2021, especially if football continues to gain popularity in North America.
This article is not investment advice. It is for general information purposes only and should not be construed as a recommendation to purchase cryptocurrency. Remember, the market is volatile – invest at your own risk!
