Do you feel like you missed the boat on some of the massive crypto coins runs that happened over the years? Looking for the next “BIG THING”? Today, we look at Best Penny Cryptocurrency to Invest in 2022. In other words, real projects with high potential that are still undiscovered by the masses.
Although as an asset trading and investment domain the crypto arena is still brand new, there is already jaded sentiment and a feeling of having missed the boat among millions of potential retail traders.
That’s understandable when you realize that most new entrants to coin speculation
and trading come via one of the bigger digital exchanges. Binance, Coinbase, and
Kraken can be legitimately considered as established now, and like any rising
company, they put their bling on show.
That means newbies are inevitably exposed to the pricier coins in one way or
another as the flagship tokens on the exchange, and buying bitcoin, for example, is
not going to feel like an ecstatic experience when you only have $1000 or two.
In fact, $1000 spent on BTC right now would net you but 0.017659 BTC… Not
inspiring.
To compensate, many new retail traders spot the penny coins, cheapies making a lot
of noise, or not, and there at least you can pile up a nice stash of diversified
potential, right?
Well, no, that’s not a good route to coin trading either, because it’s an emotional,
knee-jerk insistence on owning something, without any real analysis of your asset’s
potential. Neither the fractional bitcoin (or ether or litecoin), nor wild shots in the
dark at briefly viewed coins is a good route to profitable trading.
The smart approach is to look for all of that latent, still-fresh potential in coins that
have legitimate value.
Table of Contents
What’s the Difference Between Coins Anyway?
Why are tokens different? Isn’t crypto just crypto? They’re all blockchain tokens,
right? Won’t every coin eventually grow into a worthwhile currency?
Just like any market, there’s competition in the cryptosphere. Competition to provide
the fastest, most valuable currency if that’s the token’s aim, or perhaps competition
to develop the first genuinely vast ecosystem that leads the way into digital money,
transacting of all kinds, and indeed digital life.
Also, the clincher in any market is sentiment, and it’s a palpable presence in crypto
markets. Sentiment says this is good and that isn’t, often for reasons unrelated to any legitimate potential value of a coin, but it counts for a lot.
That’s why some coins (like bitcoin) take off for the heights they rather suddenly
reach, because of sentiment, quite apart from novelty asset value or any legitimate
improvement the Bitcoin blockchain offered people.
With that being said, the greatest returns come from truly undervalued coins that
have latent intrinsic value. With such altcoins, it’s reasonable to assume that it’s only
a matter of time before the market recognizes it, the coin scales up, and it becomes a leading token.
Bitcoin and ether are in fact two perfect examples, where both were seen as silly
kind of techie ideas for years, and just look at them today.
The good news is, you can expect a far higher return from good but cheap altcoins
than even from bitcoin, no matter that it’s been pretty dramatic in its generosity at
times.
In fact, a cursory glance back over the last few years shows us clearly that many coins paid early investors 100 or even 1000 times their value within a few years. Bitcoin was $0.06 in 2010. That’s a sobering thought that summarizes this reality well. Six lonely American cents, to $56,000+ today.
Altcoins are so names because they’re alternative coins to bitcoin, and they exist in
an extremely dynamic, risky, yet exciting space. Investors prepared to do proper
homework are unlikely to go far wrong, although for conservative legacy investors,
the cryptosphere must look like the Wild West.
Starting out, remember that market capitalization is a measure of coins in circulation, multiplied by the current token price. For investing purposes, you need to understand their relationship and differing viewpoints, and factor in current utility
and possible future issuance through mining or airdrop, or simply planned staggered release.
There’s a lot more to it than that of course, and to save you some trouble－and whet
your speculative appetite!－here are our recommendations for currently cheap
altcoins that are likely to reward you handsomely.
Best Penny Cryptocurrency to Invest in 2022
Let’s start with no particular order, on the crypto coins we have our eyes on, as well as some special mentions at the end.
Chiliz (CHZ)
Legitimate value starts with a strong fundamental purpose or base. Think of gold, oil, or even telecoms shares. Millions use the underlying assets, millions desire them.
Chiliz is the blockchain beneath Socios.com, a platform that showcases and sells
special offers from soccer teams to their fans.
Right there, if you know how many soccer fans there are in the world,
you can glimpse a potentially huge user base, one that’s quite psycho about their sport. That bodes very well for Chiliz’s future.
“Fan tokens” are hawked by the Socios.com engagement and marketing initiative,
and they afford fans the opportunity to vote on team matters sometimes, or pick up
early bird deals on tickets. Valued by the teams’ management as a new digital
income stream, you’ll see fan tokens on the big exchanges like Binance, and their rise in price is propelling CHZ higher too.
Perhaps a good sign, CHZ wasn’t the product of an ICO, having rather been sold in a
private sale, the token then valued at just $0.0215. Sales totaled around 3 million
tokens, and supply is pegged at 8.9 million tokens.
If they can successfully sell themselves to soccer fans as a part of the culture, and
they are, the token is pretty much made.
Electra (ECA)
Electra had the development aim of fundamentally changing the way blockchains work, by changing how the chain rewards users.
This means it’s more attractive to investors, or should be, and it’s built around the desire to self-perpetuate or, put another way, keep demand rising.
Rather than a cheesy ploy (although very internally facing tokens of years ago did
seem a bit silly at times), ECA is rather a smart business mover and shaker, or can be, because it sings a song that resonates with many HODLs and even normal traders and investors.
It’s a strategy that seems to be paying dividends, and the coin’s price has shown nice
movement in its lifetime. It’s bait in the water in a sense, and investors are going to
find it hard to resist when the rewards are better than elsewhere.
Currently trading at $0.00002062, that’s a momentary slump, but it has the
ingredients to become flavor of the month, and perhaps much more. High risk but
very low cost, $200 or so in Electra could net you a really big score one day. Really
big.
Dent (DENT)
Dent is creating what must surely be an entrance to a
gold mine. Looking to build a global marketplace trading mobile data and eSIM cards, the user base is those who want to get online－they need internet access.
Nowadays, who doesn’t?
So, with a potential customer base of several billion people, here the fundamentals
are right. They’re current, on point with their target market, and wading into an
industry that has made many legacy service providers billions.
Users have a real ownership of their connected usage on the Dent blockchain, and
they only pay for what they need.
If that’s not ringing bells for you, consider their current user base of some 25 million
users. That’s not too shabby at all. That’s a lot of list building!
Traffic, a great product, and a steely determination to make it real. All good omens.
Selling for just $0.005368 right now, this is an altcoin that could literally pole vault
into stardom.
The company looks to the billions wasted on data charges each month by users, and
they’re creating a new marketplace with its own economy, based on unused data.
When billions of gigabytes of data are consumed every month worldwide, this is not
an altcoin scratching for traction. With 25 million users? Watch this space!
The Best Altcoins Under $1
Basic Attention Token (BAT)
OK, BAT is currently just above $1, but based on its history and future prospects, it would be negligent not to list it here. BAT is definitely one of the most solid altcoins around, and it has a huge slice of credibility in its favor. Several, in fact.
Its founder is the man who created Javascript and co-founded the Mozilla project－Brendan Eich.
Being purely bloody-minded about it, the man has had two massive hits, clean out
the ballpark, in a row. It’s mighty unlikely the savvy Mr. Eich would waste his time on something he didn’t see having a rather large future.
As behooves a techie’s techie, the BAT use case is exemplary, and Eich is building on
the back of cruise ship Ethereum to boot. It’s dirt cheap ($1.04) still for its latent
potential, which is to disrupt, clean up, and become a huge player in the online
advertising arena.
Online advertising is bedeviled by fraudulent figures, publishing in a quandary, and
wild invasions of privacy. BAT is more than anything in line with a massive, monied
user base who will easily opt for something cleaner and smarter. Even a modest
success would still make hundreds or thousands of millionaires if Eich’s vision
persists, and a modest success at least is almost guaranteed.
Both the maker and the token have the pedigree, and it’s already no longer officially
an under $1 coin anymore. Don’t sweat the volatility though, and don’t trade it－buy
and hold until it’s above $6 or $7, and please do enjoy your luxury yacht.
Brave Browser, another Eich project launched in 2016, already has several million
users, and they’re loyal. More than that, as long as Brave keeps siphoning off users
from Google Chrome－and they are－the Brave pipe is simply going to be stuffed full over time, and Brave uses the BAT token.
Eich is very adept at speaking users feelings in his own words, his own projects. Part
leader of the market in some ways, but also a very astute listener and interpreter of
what a certain section of humanity want to hear and experience, the smart money
says this has to pay.
A resume very, very hard to ignore.
BitShares
Bitshares is a decentralized platform of exchange with a difference. Here, companies
come to create company shares on the blockchain. Shareholders are rewarded very
much as with vanilla stocks－if the company performs, you get paid dividends.
Disgruntled with the bitcoin years when a lack of fungibility and very slowly increasing transaction speeds predominated, the exchange founders are aiming to solve issues of scale, while also singing the right song for a certain investor segment.
Very much like Tether, the crypto that many feel succeeds in its desire to ratchet
volatility way down by being pegged to the USD, with Bitshares BitUSD, the tokens
are pegged to the USD.
Your tokens are decentralized, however, unlike Tether, which makes them far harder
to lose to hacks and other failures.
Did you buy Tether? The people who bought Tether will buy BitUSD－they’re
preaching to the choir and they know it. How big is the choir? We’ll have to see, but
at least big enough to make you wealthy.
Almost an improvement on Tether, being decentralized, it represents what the Tether owners would consider a smart, modern play perhaps the next step. On that basis, it’s going up.
The fact that big business’ greed threw the entire world off a cliff in 2008 also bodes
well for Bitshares and their desire to be the local exchange, for everyone. Business is
always hungry. An easier route to raising some cash than a regulated exchange is
going to be immediately attractive to business.
That’s no guarantee of salvation, just to end with a warning. Exchange Poloniex
delisted them, or rather disabled Bitshares wallets, amid allegations of the token’s
price being manipulated. But again, a certain crowd will probably find that attractive,
perhaps, along with a current price of just $0.05085.
Not top of the class in technical tests, the platform has had tech hassles at times, but again, as long as they just keep getting better, slowly but surely, Bitshares should keep climbing in value because their architecture resonates with a lot of people.
Substratum (SUB)
Substratum is another penny token that has a giant fundamental, and its concern is with user privacy.
You’d have to have been living in a cave (without Wi-Fi) not to know that any project that can successfully and smartly return users’ privacy is on the money straight out the gate.
A token answer to conventional VPNs and even the Tor project, SUB is remarkably
effective and, it seems, simply has to wait for users to change their behaviour a very
little, whereupon it will become mainstream.
Its potential is that big, again as a token aiming at a massive market among
humanity’s many in the digital age, like the tokens above. Able to unblock websites
and browse truly anonymously, let’s also not forget that SUB is like the fresh new kid
showing up uninvited at a party in full swing.
That party is the VPN market, worth billions per annum, and SUB has the audacity to
suggest it’s better too, just to rub salt in the wound.
For many, it is better, and technically, for many it will be. It will be a logical migration
to the token, an upgrade in privacy and modernity. Much like Brendan Eich’s BAT only has to show up to the existing market to get a nice fat slice, so too does SUB seem virtually guaranteed to get a whopping slice of the VPN market. And it serves them right for being overpriced!
Special mentions?
Dogecoin, at $0.2156, has an ethereal magic to it, if “ethereal” could mean being like Ethereum.
Not that this token is like ether in its application, but rather because, just like ether,
it’s been around, it’s had its fair share of press and voguey status, but unlike ether it seems to have been on idle ever since, at least as far as investors’ appetites are concerned.
The jokey upshot of engineers Jackson Palmer and Billy Markus larking about, the software duo created Dogecoin (replete with the face of the Doge meme Shiba Inu dog) as a payment system, as a joke, poking fun at the ridiculous speculation and claims happening in the cryptosphere at the time.
It’s less funny to realize that they are, in fact, responsible for a bit of digital
memorabilia at least, and also that they will attract the flippant or sardonic users
who will want to perpetuate the laughter.
Does it fit on our list of best penny cryptocurrency to invest in 2022? We are not sure, but it’s definitely a piece of history and something to keep an eye on.
Moreover, NFTs… In the era of NFTs finally emerging as assailants on legacy assets,
or soldiers of a younger demographic, Dogecoin has just the right cartoonish mix to
become ridiculously valuable one day, as hard as that might be for some to imagine.
It might have been a joke, but the altcoins also might become digital Faberge eggs,
digital first editions, if you like, that have a value that only increases as we digitize
ever more.
Trading is risky. Trading with cryptos doubly so. Do lots of homework, look for the
application, imagine a token’s employment in the world as it morphs into the future,
and legitimate potential will become easier to spot.
Our list of the “Best Penny Cryptocurrency to Invest in 2022” was compiled with our best research and intentions, but please do your own due diligence. Nothing here is financial advice.