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Penny cryptocurrency investments have the potential to offer attractive returns with a very small initial commitment. There are more digital currencies than ever, and many trade for less than a dollar.
As such, in this guide, we discuss the 10 best penny cryptocurrencies to invest in for 2022.
We also explore why investors choose penny cryptocurrencies and what risks to consider before proceeding with an investment.
Overview of the Top 10 Penny Cryptos for 2022
Below is a list of the best penny crypto to buy in 2022, to assist investors in choosing a suitable project for their portfolio.
- Tamadoge (TAMA) – Top Penny Cryptocurrency for 2022
- Battle Infinity (IBAT) – Blockchain Gaming Platform With a Metaverse World
- Lucky Block (LBLOCK) – NFT Competitions Project with Giveaways
- Ripple (XRP) – Large-Cap Enterprise Blockchain and Crypto Solutions Provider
- Cardano (ADA) – Proof-of-Stake Network with Staking Pools
- Tron (TRX) – Decentralized Network With DeFi, Web3, and NFT Integration
- Cronos (CRO) – Native Token of the Ecosystem Supported by Crypto.com
- Polygon (MATIC) – Multi-Chain Scaling Solution On Ethereum Network
- Chiliz (CHZ) – Sports-Focussed Platform With Fan Tokens
- Gala (GALA) – Blockchain Platform and Pioneer of Web3 Ownership-Enables Games
We’ve included a good variety of penny cryptocurrencies for those who may want to create a diverse portfolio, or are still deciding on their financial goals.
Full Analysis of the 10 Best Penny Cryptocurrency to Invest in 2022
A large part of finding crypto under a penny that will explode is to conduct plenty of thorough research.
To aid this process, we’ve reviewed and ranked the 10 most promising penny cryptocurrencies below.
As we touched on, to embrace diversification and risk management, we discuss a range of different project types.
1. Tamadoge (TAMA) – Top Penny Cryptocurrency for 2022
Tamadoge is perhaps the overall best penny crypto to invest in for numerous reasons and is currently going through an extremely successful presale.
A sign of a crypto under a penny that will explode is having a highly successful beta and presale phase – finding the best crypto presales can be a great way to maximize gains.
More than $11.5 million in seed funding has now been raised, with the token allocation running out fast and less than 30% of the presale tokens still available.
That said, there is still time to buy TAMA tokens at a discount, as each time a new presale phase is entered, the price goes up.
The earliest investors received 100 TAMA tokens for $1 USDT but by with each new token tranche of 100 million investors pay a higher price.
By the time the presale ends 1USDT will net 33.33 tokens and once the tokens go live on an exchange – with an LBank listing already confirmed – the price will again increase further.
This penny cryptocurrency has accrued a strong community of followers called the Tamadoge Army and on Twitter alone has already more than 50,000 followers and has the potential for meme coin ROI.
In the Tamaverse, which includes NFT ownership and play-to-earn gaming, players will be able to mint and breed their very own Tamadoge pet.
Moreover, players are able to train and take their Tamadoge NFTs to battle to try and rise to the top of the scoreboard each month. As part of Tamadoge’s roadmap, P2E games will eventually incorporate augmented reality (AR) activities.
Players will have a variety of opportunities to earn digital tokens on the platform. Moreover, the Tamadoge AR app will be released in Q4 2023. Not only will this allow pet NFTs to interact with their Tamaverse buddies, but they can also go hunting for TAMA tokens.
2. Battle Infinity (IBAT) – Blockchain Gaming Platform With Metaverse
Another penny crypto project bringing together the P2E and metaverse industries is the highly intriguing ecosystem, Battle Infinity. The token used for in-game purchases, rewards, and other utilities is IBAT.
Some market commentators argue that IBAT is another crypto under a penny that will explode. The Battle Infinity presale hit its hard cap goal of 16,500 BNB (about $5 million) in just 24 days and early listings have already seen the price spike by 200% from the presale price.
At the time of writing, investors can buy this penny crypto on a number of DEXs and CEXs for under a penny, with more listings in the pipeline in the near future.
The overall objective was to develop a complete P2E gaming environment, while also including a number of utility-focused features – Battle Infinity has thus far accomplished this and is one of the best new cryptocurrency projects in the space.
The Battle Infinity ecosystem is made up of six distinct platforms, each with a specific purpose. This makes IBAT one of the most promising penny cryptocurrencies of 2022.
For a start, the NFT-based P2E fantasy sports game the IBAT Premier League is interconnected with the metaverse. This allows players to create their own team of athletes to compete with others to climb up the leaderboard.
The cricket P2E game is based on the Indian Premier League. The developers will also introduce basketball, baseball, hockey, football (soccer), and more as time goes on.
Players may purchase and trade different NFTs, such as athletes and game characters, at the Battle Games store. Moreover, using the specialist platform Battle Staking, investors can earn on cryptocurrency holdings.
Additionally, investors will discover a variety of NFTs, such as artwork, in-game products, and more on the Battle Market. Meanwhile, the Battle Arena is a fully realized metaverse setting and is a stand-out feature of the platform.
Battle Swap is the name of the decentralized marketplace within the ecosystem. Here, investors may directly purchase IBAT tokens and exchange rewards for other currencies.
3. Lucky Block (LBLOCK) – NFT Competitions Project with Giveaways
The NFT competitions project Lucky Block has had tremendous growth since its early 2022 launch. It’s ranked one of the top penny cryptocurrencies with potential and its presale sold out well ahead of time.
The project offers unrivalled prizes in the space with $1 million of Bitcoin, a $300,000 Lamborghini, a $1 million house and a Bored Ape Yacht Club NFT currently up for grabs.
Investors get access to a number of contests and rewards through the platform by purchasing Lucky Block NFTs. There will only ever be 10,000 Lucky Block NFTs produced and only a select number are rare collectibles.
In addition, participants have the chance to win actual prizes and are automatically admitted to the Platinum Rollers Club if they own NFTs. Those new to NFTs should read our full NFT beginner’s guide.
The native token LBLOCK just had a V2 update, meaning it is now on the Ethereum blockchain and more easily listed on centralized exchanges – a bridge was also announced to allow holders of V1 to trade in for the V2 coin.
4. Ripple (XRP) – Large-Cap Enterprise Blockchain and Crypto Solutions Provider
Ripple is a firm favorite among those who favor penny cryptocurrencies. Moreover, XRP tokens rank among the top ten cryptocurrencies on CoinMarketCap.
This penny crypto was created with the goal of transferring transactions from closed systems controlled by financial institutions to a more open system while drastically reducing costs.
The goal of RippleNet, the blockchain infrastructure built by the company, is to offer access to speedy, affordable, and straightforward cross-border transactions. 100 billion XRP tokens were pre-mined at launch.
In 2022, Ripple partnered with Fomo Pay, a well-known payments company located in Singapore. Through the partnership, Ripple’s crypto-enabled business technology will be used by Fomo Pay to increase its international treasury flows.
At the time of writing this best penny crypto guide, Ripple has a market capitalization of over $17 billion, and XRP tokens are trading at almost $0.35.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
5. Cardano (ADA) – Proof-of-Stake Network With Staking Pools
Cardano is a decentralized proof-of-stake network and one of the most potent challengers to Ethereum. Despite being a top 10 cryptocurrency with a market valuation of over $15 billion at the time of writing, ADA is among the best crypto to buy under a penny.
With its Alonzo upgrade in 2021, Cardano put smart contract support into place. In contrast to other blockchains, the Cardano network requires peer approval for all applications and protocols before they can be implemented.
Moreover, there are various other use cases for ADA. For example, investors can take part in the staking and validation process. They also have the option of operating or owning a stake pool.
Trusted server nodes have the task of verifying transactions. The Cardano platform allows investors to manage numerous assets. They can also develop NFTs and smart contracts.
75% of the total coin supply has been mined at the time of writing and ADA is trading at approximately $0.46.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
6. Tron (TRX) – Decentralized Network With DeFi, Web3, and NFT Integration
Another well-known rival of Ethereum is Tron. Instead of attempting to mimic the Ethereum ecosystem, the Tron project developed its own blockchain with an emphasis on entertainment.
Similar to Chiliz, the Tron platform gives content producers control over their creations. They may use this decentralized network to directly share their work and material with their friends and followers while earning a commission in the form of cryptocurrencies.
TRX is also among the best penny crypto coins. Tron incorporates a number of cutting-edge crypto technologies into this decentralized network. This includes NFTs, dApps, DeFi, and Web3.
As a result, it continues to get a warm reception from the community of creators. Well-known faces, such as Lindsay Lohan, have already launched NFT token sales on the Tron network. If further high-profile celebrities decide to publish content on the Tron blockchain in the future, this could bode well for the value of TRX.
The market capitalization of Tron at this time is over $6 billion and tokens are trading at almost $0.07.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
7. Cronos (CRO) – Native Token of the Ecosystem Supported by Crypto.com
Cronos is the native token for the relatively new Cronos blockchain. There is often a misconception that CRO is the native token of Crypto.com, the popular trading and staking platform. However, both Cronos and Crypto.com are separate entities.
Having said that, Crypto.com does provide resources and support to the Cronos ecosystem. That is to say, the entire suite of products on the Crypto.com platform is presently compatible with Cronos. This includes the app, main exchange, and DeFi Wallet from Crypto.com
The DeFi staking platform even offers users interest rates of up to 14.5% on CRO tokens. Cronos discreetly introduced its Play developer tool in August 2022. The objective is to provide developers with all the required framework to create ultra-realistic images and more immersive experiences.
This offers compatibility for a variety of cutting-edge game engines, including Unreal Engine 5, which is best known for powering Fortnite. Additionally, it supports the immensely well-liked C++ programming language, which is favored by game creators.
The market capitalization at the time of writing is nearly $4 billion and CRO is trading at around $0.10.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
8. Polygon (MATIC) – Multi-Chain Scaling Solution On Ethereum Network
Built in conjunction with the Ethereum blockchain, Polygon is the most valued and promising layer-2 scaling penny crypto project. Polygon aims to reduce gas fees and increase Ethereum’s efficiency. It also aims to increase transaction speeds. The native token of this project is MATIC.
Polygon has launched GameSwift, which is a Web3 ecosystem focused on gaming. An increasing number of developers and companies are drawn to Polygon. These tend to be those that are working on quickly developing crypto technologies like Web3, NFTs, and DEXs.
Polygon is therefore a multi-chain scaling solution. The project is expected to expand its activities over the next few years to additional blockchains. This might broaden its use cases and boost interest in MATIC tokens, ultimately driving up the price.
The market capitalization of this altcoin at the time of writing is over $6 billion and MATIC is trading at approximately $0.80.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
9. Chiliz (CHZ) – Sports-Focussed Platform With Fan Tokens
Investors researching crypto under a penny now will no doubt have come across Chiliz. Its native token is CHZ. This penny crypto is a popular option for sports fans, enabling them to have unique experiences with their favorite teams.
Put simply, Chiliz uses blockchain technology to enable interaction between fans and their preferred sports teams via NFTs and P2E gaming.
The project draws inspiration from the Socios (fans) of Spanish soccer teams. Whereby a yearly membership allows supporters access to a range of privileges.
This includes club voting perks and early tickets. Investors can also use the CHZ token to buy the Fan Tokens of their preferred teams. Each club that works with Chiliz is allowed to personalize the experiences that owners of their Fan Tokens have in the real world.
Holders of Fan Tokens may also have a say in choices made by the team, such as celebration songs, starting lineups, stadium naming, and even new kit designs.
At the time of writing, CHZ tokens are trading at a little over $0.20. The market capitalization at this time is over $1.4 billion.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
10. Gala (GALA) – Blockchain Platform and Pioneer of Web3 Ownership Games
Gala Games was created to return ownership and control to gamers everywhere. It is powered by players using a decentralized Node Ecosystem. The platform produces AAA games using Web3 technology.
Gala’s games are free to play and also offer NFTs and other rewards. The digital utility token for the Gala Games ecosystem is called the GALA. Investors have total flexibility over how to utilize GALA, and it may be shared peer-to-peer.
In July 2022, this Web3 entertainment pioneer declared that its titles are setting the standard for blockchain gaming. Gala has millions of monthly users and hopes to establish itself as the leader in the developing Web3-games market.
At the time of writing, GALA tokens are trading for just less than $0.06. The market capitalization at this time is over $390 million.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
Penny Cryptocurrencies Explained
All digital currencies that cost less than $1 per token are known as penny cryptocurrencies.
These low-cost cryptocurrencies have the potential to increase over the course of time
However, there is a huge risk attached when investing in any digital currency
It can be hard to know if crypto under a penny now will produce suitable gains later
This is why it’s vital that when investors learn how to buy penny cryptocurrencies, they also research a wide range of other metrics such as the project behind the token, legitimacy, and how well-received it is in its early stages
For instance, this guide found that the stand-out penny project Tamadoge has a clear roadmap ahead, and has been audited and fully checked by Solid Proof.
Another positive is that the project also seems to be proving popular in its early stages, having sold out super early in its beta sale phase within weeks.
Is it Worth Buying Penny Cryptocurrencies?
Today, we’ve reviewed the best penny cryptocurrency to buy in 2022. However, investors may still be wondering whether penny crypto tokens are a worthy addition to a portfolio.
Further information on why it might be worth buying penny cryptocurrencies can be found below:
Upside Potential
Leaders in the crypto space today include Bitcoin, Ethereum, and many others. These coins have been around since a period when interest in crypto-assets was low. In reality, the market wasn’t nearly as saturated back then either.
That said, using Bitcoin as an example, BTC tokens were worth less than a cent when they were first introduced to the public. At the time of writing, BTC tokens trade for over $21,700 each. Moreover, the market capitalization of Bitcoin has since surpassed $1 trillion.
As such, by choosing the right project, investors could see attractive gains by investing a low amount of $1 or less in a cryptocurrency.
Low-Cost Entry Into the Crypto Market
Many investors have been put off by the initial outlay of entering the crypto market.
However, this only really applies to tokens like Bitcoin, which, as we said, trades for many thousands of dollars.
In contrast, investors can buy TAMA tokens via the presale at a cost price of just over $0.02.
Crypto Portfolio Diversity
Why stop at one penny cryptocurrency? Some investors choose to spread the risk involved with such uncertainty by creating a diverse portfolio of low-cost tokens.
This is much easier to achieve with cryptocurrencies that trade for $1 or less.
That said, investors must still conduct plenty of research to gain an understanding of each project and the risk involved.
How to Buy the Best Crypto Under a Penny – Tamadoge Walkthrough
Now that many investors will have a clearer indication of the most promising penny cryptocurrencies, it’s time to explain how to buy them.
Below is a step-by-step account of how to buy penny cryptocurrencies, using TAMA as our example.
Step 1. Install a Crypto Wallet
To buy the best penny crypto, investors must download a wallet to store their digital assets.
MetaMask fits the bill for most investors as it’s simple to use, trusted by many millions of traders, and supports both ERC-20 tokens like TAMA.
The MetaMask wallet also supports NFTs. This wallet is available as either an app for smart divides on Android and iOS or as a browser extension.
The latter includes Brave, Google Chrome, Firefox, and Microsoft Edge.
Step 2. Purchase Tokens to Swap for TAMA
As we are using Tamadge for this walkthrough, we are going to explain how to access TAMA.
There are three ways in which investors can buy TAMA on presale.
They are:
Buy ETH tokens with a credit/debit card on the Tamadoge platform. Once purchased the ETH tokens can be swapped for TAMA. The platform recommends that investors purchase a minimum of $30 worth of ETH.
The second option is to buy some USDT tokens as they can be exchanged for TAMA. Again, the recommended minimum is $30 worth.
Alternatively, buy ETHor USDT tokens elsewhere and then head over to Tamadoge to exchange for TAMA on presale.
Step 3. Connect MetaMask to Tamadoge Presale Platform
To connect the newly installed MetaMask wallet to the Tamadoge presale platform, click the ‘Buy’ button.
When the screen shown above is presented to the investor- they just have to click ‘MetaMask’ and confirm to complete the connection.
Step 4. Buy TAMA Tokens
After taking into consideration how much the investor wishes to allocate to TAMA tokens, they can fill in the relevant field.
As we said, for each 1 USDT invested, just over 44.4 TAMA tokens will be received.
Step 5. Add Tamadoge to the Wallet
Following the completion of the Tamadoge presale, investors can claim their TAMA tokens in a few clicks.
This entails clicking ‘Claim’ on the main dashboard and selecting the correct crypto wallet. The tokens will swiftly be added to the wallet that is connected to the dashboard.
Where to Buy Alternative Penny Crypto Coins
In addition to the above walkthrough – which describes how to buy the best crypto under a penny, it is also worth looking at established projects that are already listed on tier-one exchanges.
When choosing an exchange for this purpose, investors should consider metrics surrounding safety and legitimacy, as well as trading and deposit fees, ease of navigation, market diversity, features, and more.
Overall, we found that eToro is the best place to buy penny cryptocurrencies – here’s why:
eToro – Reputable Broker With Selection of Alternative Penny Cryptocurrencies
eToro is a long-standing online brokerage that is reputable and trusted by over 25 million traders and investors. Although crypto markets are not governed by a regulatory framework, this platform does hold a license from multiple bodies to operate.
This includes the SEC, FCA, ASIC, and CySEC. As such, this gives investors the peace of mind that they are dealing with a legitimate and professional trading platform.
There is a small commission fee to be aware of when buying cryptocurrencies at eToro, which stands at 1% per buy or sell order.
The platform offers multiple markets, such as stocks, indices, ETFs, commodities, and forex. Stocks are commission free, as are ETFs. Unfortunately, any investors hoping to find the best crypto penny stocks to buy will not find them at eToro.
This is because cryptocurrency penny stocks are classed as OTC assets, and eToro doesn’t offer these. That said, there are many crypto assets listed at eToro. This includes large, medium, and small-cap penny cryptocurrencies.
One of this broker’s stand-out passive investing features is Copy Trading. This sees the investor allocating some funds to Copy Trading and subsequently mirroring the trades of a seasoned trader.
There are many traders that focus solely on cryptocurrency trading. Another option is Smart Portfolios. This entails allocating $500 or more to a crypto-based basket of assets, thus having a ready-made portfolio as a result.
Investors can fund an eToro account for free in the US. Those located anywhere else will need to pay a small 0.5% fee. Deposit methods are inclusive of e-wallets like PayPal and Skrill, as well as ACH, wire transfers, and also credit/debit cards. Deposit minimums start from just $10.
To Conclude
This guide has reviewed and ranked the best penny crypto to buy in 2022. We concluded that Tamadoge is an exciting project with the most potential.
The platform combines P2E gaming with metaverse elements and has a strong roadmap ahead.
Although Tamadoge has already raised more than $7.5 million via its presale, it is still possible for early investors to grab this penny crypto at a discounted price.
FAQs
What is a penny cryptocurrency?
A penny crypto is categorized as a digital currency that is trading at $1 or less per token. Some crypto assets that fall within this category possess a large market capitalization – such as XRP and Cardano. This is directly linked to the number of tokens issued by the project.
What is the overall best penny cryptocurrency to invest in right now?
The best penny cryptocurrency to invest in right now is Tamadoge. Players can earn TAMA whilst playing P2E games. They can also take ownership of NFT pets, and earn further rewards through training and battles. TAMA tokens are on presale right now at a discounted price.
Where is the best place to buy penny crypto?
The best place to buy penny crypto will depend on whether the project is listed on an exchange yet. For example, in the case of a crypto like Tamadoge, which is currently in its presale phase, investors can purchase the token directly from the provider’s website. On the other hand, if the token is already listed on an exchange, the best place to buy penny cryptocurrencies is via eToro.
How can I invest in penny cryptocurrencies?
The best cryptocurrencies are listed on reputable and regulated online exchanges. If, however, the penny cryptocurrency is still in its presale – such as Tamadoge, then a purchase can be made directly on the provider’s website.
Which penny cryptocurrency will blow up?
Tamadoge is showing strong signs of potential. TAMA tokens sold out ahead of its deadline during the beta sale phase, raising $2 million. The project also has a Tamadoge Army of almost 50k Twitter followers in less than two months. Its current presale has raised more than $7.5 million in the space of just a few weeks.
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