Looking for the best penny altcoins to invest in? Here is a list of the top 10 altcoins you should consider
Penny altcoins continue to grow in popularity as the crypto industry expands. Penny cryptocurrencies are attracting crypto investors in large numbers. Penny altcoins are cheap, and even with a small investable capital, one can significantly magnify gains. While there are thousands of penny cryptocurrencies in the market today, this article will focus on the top ten best penny altcoins to buy and hold for better returns. The list does not constitute financial advice. It is always best to do your research before investing.
IoTeX is focused on the fast-growing IoT space, a market worth $310 billion and growing at a compounded rate of 24.5%. The idea behind IoTeX is to help owners of IoT devices better secure their data. This is a big deal given how much data internet-enabled devices are collecting. Besides a strong use case, IoTeX is taking steps that can help accelerate adoption, such as the recent partnership with Google cloud. When you put all these factors into consideration, IoTeX is definitely a worthy penny crypto to buy and hold for massive growth.
Check Out: IoTeX (IOTX) Price Prediction
Gala is a play-to-earn game where players accomplish in-game missions and are rewarded with Gala tokens. Like other play-to-earn games, Gala has been growing in popularity since 2021. As more people enter the play-to-earn gaming market, top NFT games like Gala will only become more popular. This gives Gala a lot of potential as a penny altcoin to buy in 2022 if you are looking for explosive growth.
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Ripple (XRP) is a cryptocurrency that facilitates immediate cross-border payments. XRP is mainly used in Ripple systems and has seen significant adoption, especially in Asian markets. Despite its strong fundamentals, XRP has underperformed the broader market since 2020. This is due to the case against Ripple by the SEC. Now that the case is coming close to an end, and speculation is high that it could go Ripple's way, XRP could be a worthy penny altcoin buy for 2022.
Read Also: Ripple (XRP) Price Prediction
Cronos (CRO) is the native token of Crypto.com, a decentralized payment network that is making the trading and use of cryptocurrencies easier. Being the native token, the more users Crypto.com gains, the higher the intrinsic value of CRO tokens. Given that Cronos is one of the sponsors of the upcoming World Cup in 2022, the publicity it will attract could trigger a rally in the price of CRO.
Check Out: Crypto.com Coin (CRO) Price Prediction
When looking to buy and hold a penny cryptocurrency, Vechain easily stands out among the best. The Vechain blockchain has multiple use cases but has particularly stood out is in supply chain management. Through the Vechain blockchain, it is easy for a product to be traced end-to-end, putting an end to issues such as counterfeiting. As Vechain's use case grows, so will the potential value of the VET token. It is one of the best penny altcoins to buy and hold in 2022
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Harmony is a blockchain built to solve the problems of fees, scalability, and decentralization that plague most platform blockchains. Harmony can handle over 2000 transactions per second at low fees while remaining decentralized. Harmony is also designed for interoperability, and assets can easily be sent from Harmony to other blockchains. With such capabilities, it makes sense to buy and hold this penny altcoin.
When it started back in 2013, Dogecoin was a joke and was created to make fun of the explosion of worthless tokens in the market. However, Dogecoin's fortunes changed in 2020 after Elon Musk started supporting it. Since then, adoption has grown, and even Tesla now accepts some payments in Dogecoin. Musk recently said that he would not be selling DOGE or any of his cryptos. When you consider his influence, DOGE could be a good penny altcoin to buy and hold for long-term growth.
Read Also: Dogecoin (DOGE) Price Prediction
DeFi is growing, and as it does, the demand for private smart contracts is exploding. On the basis of this demand, Oasis Network makes for the perfect penny crypto to HODL in 2022. Oasis is designed for private smart contracts, perfect for private lending and other in-demand services such as under-collateralized loans. As this demand grows, so will the value of the ROSE token.
Shiba Inu made headlines in 2021 after it recorded millions of percentages in gains. While the initial hype has died down, the team behind Shiba Inu is working hard to increase the value of SHIB. For instance, they are building a Metaverse platform. This is a big deal considering that the Metaverse is one of the fastest-growing aspects of the crypto market in 2022. It makes SHIB penny crypto worth considering if you want explosive growth both now and in the long run.
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Stellar is a decentralized network that allows for cross-border payments at low fees. The transfers are done using the XLM token. XLM poses a low regulatory risk thanks to its decentralized nature, even as adoption continues to grow. For this reason, Stellar (XLM) makes for a pretty good penny crypto to buy and hold in anticipation of massive growth in crypto payments. The odds are in its favour.
Check Out: Stellar (XLM) Price Prediction
eToro – The Best Platform To Buy Penny Cryptos
Virtual currencies are highly volatile. Your capital is at risk.