Best Penny Cryptocurrency To Buy In 2023

Over the next decade, more penny crypto will blow up and grow their current values by a thousand-fold. While you might have missed out on the BTC and ETH rallies, you can find the next cryptos to explode and invest early on.

But how do you find the best penny cryptocurrency to buy in 2023 and hold for explosive gains over the next few years?

In this article, we tell you how to spot the most promising penny cryptos, as well as where and how to buy them. But even more importantly, we introduce you to the best cryptocurrencies to invest in 2023.

 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

A Closer Look At The Top Penny Cryptocurrencies To Buy In 2023

When looking for the best penny cryptocurrencies to invest in today, we looked beyond their current rice action. We examined its past price action, looked at its most potent future price action, and just how high it can get over the next few years.

After analyzing hundreds of cryptocurrencies and their underlying blockchain technologies, we settled on the following best penny cryptocurrencies to buy today.

1. Ripple (XRP) - Overall Best Penny Cryptocurrency to Buy and HODL

Ripple was at one time believed to be the ultimate Bitcoin-killer. Then the SEC filed a suit against its developers, seeking to have the 8th most valuable crypto project recognized as a security and accusing the team of selling unsecured and unauthorized securities to US residents.

This, and a combination of other factors like the 2018 to 2020 crypto winter had its value plummet from its 2018 peak price of $3.8 to a $0.4 average in December 2022 - implying that it already is discounted close to 90%.

The ongoing court case, however, has not prevented Ripple and XRP from amassing further investor interest. Neither has it prevented it from entering into strategic partnerships with dozens of leading banks and finance industry players across the world. Neither has it paused developments on the Ripple network. All these explain why XRP has maintained its position among the 10 most valuable cryptos of all time and why its trade volumes and wallets holding XRP have been on a steady rise.

Moving forward, we are confident that XRP token prices will continue rising, invest interest will keep growing. The number of financial institutions building on the Ripple network will keep growing. And when the federal courts finally vindicate Ripple Network and clear its crypto status, it will blow up. And these are some of the reasons why we group XRP among the best penny crypto to buy today.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Polygon (MATIC) - Highly Discounted Penny Crypto to Invest in Today

Polygon is the most successful and arguably the most popular Ethereum layer-2 protocol. It integrates multiple scaling solutions, including all the rollup chains, which makes Ethereum-based programs as fast as its supposed Ethereum killers.

Moving forward, especially as the adoption of blockchain and crypto technology gathers pace, we expect MATIC token prices to rally fast. The explosive rate with which the Ethereum ecosystem is expected to grow with is the primary reason why we feature MATIC among the best penny cryptocurrencies to buy right now.

Other factors that make us add Polygon among the most promising penny cryptocurrencies today include the fact that it has performed exemplarily well in the past. Moreover, other than the Ethereum blockchain, Polygon seeks to extend its scaling solutions to other blockchains - effectively making it an interoperable and highly decentralized layer-2 scaling solution.

How high can it get? Well, for the past six months, MATIC tokens have been selling for between $0.3 and $2.5 and optimistic analysts and investors are confident that it can rally and reach $28 and break above $80 in the next 5 and 20 years respectively.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. Tron (TRX) - Best Penny Cryptocurrency That Will Explode in 2023

Tron is one of the most popular Ethereum competitors. Created by the all-popular crypto crusader, Justin Sun, Tron was aimed at fixing the many ills facing the largest smart contract platform. Unlike Ethereum killer, however, Tron sought to assume a different approach to this. In place of trying to replicate the whole Ethereum ecosystem, it created an entertainment-focused independent blockchain.

Like Chiliz, Tron creates a platform that allows content creators to resume control of their craft. It lets them get rid of intermediaries dominating the distribution and revenue collection avenues. It lets them share their craft and content with their fans and followers directly via the decentralized network and receive a commission in the form of customized tokens.

But it also integrates multiple emerging crypto technologies into this decentralized network. These include NFTs, Web3, dApps, and DeFi. To this end, it continues to receive a glowing welcome from the crowd-pulling content creation community, which is one of the reasons we consider TRX the best penny crypto to buy today.

This support has been largely in the form of endorsements from the likes of Justin Sun and such A-list celebrities as Ne-Yo, Lil Yatchy, and Amanda Cerny. Others, like Lindsey Lohan, have gone ahead and premiered NFT token sales on the Tron network. And moving forward, we expect to see more celebrities launching content on the Tron blockchain.

These, alongside a recovering crypto market and growing blockchain adoption, is expected to help catalyse value gains for the TRX tokens. By the turn of the decade, for instance, optimists are confident that TRX will have rallied by more than 5000% and broken above $3. And it explains why we feature Tron in our index of the top penny cryptocurrencies to invest in today.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

4. Cardano (ADA) - Best Established Large-Cap Penny Crypto

Cardano is the most valuable crypto project on our list of best penny cryptocurrencies to buy in 2023. It currently is the 9th most valuable crypto project and its prices have been ranging between $0.24 and $0.60 for the past six months.

It is also the largest and safest smart contract platform. But these aren’t the only reasons why you should be buying crypto under $1 to buy today. We feature it here because it is full of promise and expect its value to blow up in the foreseeable future.

Look at it this way, Cardano’s mandatory peer review for all protocols being integrated into its platform has affected its dynamicity. The platform, therefore, lags behind its competitors, especially Ethereum, Solana, and Avalanche in integrating such emergent crypto niches as DeFi, dApps, Web3, and even the smart contract feature. Nevertheless, this has not stopped it from competing favourably against these peers when it comes to the number of active monthly developers, the number of brands collaborating with the network, and its market cap.

Looking at its past price action, you will notice that ADA token prices and Cardano’s market cap rose sharply every time the Charles Hoskinson-led network-integrated a new feature. A perfect case in point is the integration of the smart contract feature in late 2021, which helped ADA token prices rally by close to 200%.

This has us convinced that Cardano prices will rise astronomically when it fully integrates all these other emerging cryptos. This further reinforces our convictions on why Cardano is one of the best penny cryptocurrencies to invest in right now.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

5. Decentraland (MANA) - Most Promising Penny Crypto for the Metaverse

Decentraland is the most valuable and arguably the most popular metaverse project today. It was also the first metaverse project, which earn it a first-mover advantage. Decentraland held the ICO for MANA tokens in 2017 but the virtual world only opened to the public in 2020. Throughout this period, its token prices and subscriptions to its virtual land have sustained an uptrend.

For a moment, during the early 2021 crypto market rally, Decentraland token prices tore above the penny crypto barrier when they rallied above $5. This says that MANA prices are one rally away from breaking out, which informs our decision to include it on our list of the best penny crypto to watch in 2023.

Other reasons why we believe that you too should add MANA to your watchlist of best penny cryptos to invest in today include the fact that it still is a work in progress. Both on- and off-chain brands like JP Morgan, Forever 21, Nike, Coca-Cola, and even Atari have already purchased plots of virtual land on Decentraland.

Moving forward, we expect Decentraland to draw in more investors, brands, and content creators. Not to mention that it has integrated NFT, Web3, and other emerging crypto technologies into its platform. 

These are all expected to draw in a lot of users whose interactions with the brand will help catapult MANA token prices to unprecedented heights. And all these confirm why you too should consider adding Decentraland to your watchlist of best penny cryptocurrencies to invest in today.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

6. Shiba Inu (SHIB) - Best Meme Currency to Invest Today

Shiba Inu is the second most valuable and one of the most popular meme currencies. And though it trades for far less than a penny, it still is one of the most potent joke currencies. During the early 2021 crypto market rally, for instance.

SHIB token prices rallied by more than 5 million percent. Moving forward, we expect Shiba Inu to replicate these gains - which is why we consider it one of the best penny cryptocurrencies to buy and hold.

But we also add it here because the Shiba Inu development team has been working on updates and programs that increase SHIB’s use cases. For starters, they have launched the Shibaswap DEX, a token Launchpad, and have increased the burn rate for SHIB tokens.

The act of increasing its use cases and capping its demand alongside such others as a vibrant community of supporters, a recovering crypto community, and a revived meme coin frenzy are all expected to catalyze its next big price jump.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

7. Basic Attention Token (BAT) - Great Penny Crypto for Long-Term Investing

Basic Attention Token is the reward token for the Brave browser. It is a pioneer crypto for the token economy that seeks to revolutionize the multi-billion dollar digital advertising industry by leveraging the power of DeFi and crypto technology. It has already been a hugely successful crypto project as evidenced by the sustained uptrend for the BAT tokens.

The Brave browser, the primary tool for disseminating BAT tokens, has also received a warm welcome from both the crypto and digital advertising community and currently records over 50 million unique and active monthly users. And this history speaks volumes about BAT’s future, which is one of the main reasons why we featured it on our list of best penny cryptocurrencies to buy today.

Others include the fact that BAT is full of promise. At its peak, for instance, BAT had a market cap of $2.6 Billion which is a small fraction of the $500+ Billion digital advertising industry. We also feature it here because it addresses a rising concern among internet users - privacy. The Brave browser blocks trackers, lets you determine the advertisements you view, lets you control the amount of personal information advertisers access, and pays you to view the said ads.

Moving forward, we expect BAT to continue carving out its niche in the digital advertising space. This, plus its appeal to user privacy and the token reward system are all expected to catapult BAT token prices to unprecedented heights - making it the best penny crypto to invest in today.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

8. Stellar Lumens (XLM) - Popular and Highly Useful Penny Crypto to Buy and HODL

Stellar Lumens makes it to our list of the best penny to invest in the long term because of its massively promising future. Launched in 2014, Stellar is an open-sourced payment network that takes a stab at the multi-trillion dollar global finance industry.

It seeks to provide an affordable, safer, faster, and more efficient cross-border payment system for both the banking industry and individuals. It also seeks to provide a more efficient crypto storage service for the unbanked and underbanked.

This increased use case of an already highly valuable and massively popular crypto asset has most crypto analysts convinced of Stellar’s future. They also are one of the primary reasons why we consider XLM the best penny crypto in the market today.

Stellar Lumens are already selling for a discounted price, more than 90% below their all-time high. And in the next 10 years, XLM token prices are expected to recapture this all-time high and rally by more than 1900% to rise above $1.4.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

9. Ren (REN) - Most Promising Penny Crypto To Buy in 2023

DeFi promises to democratize the global finance industry. It has been a quick success seeing crypto investors have already committed hundreds of billions to the DeFi industry. But there are a few bottlenecks preventing it from breaking out and taking over the global finance industry. Ren, an Ethereum protocol seeks to solve one of the biggest hurdles i.e. interoperability and liquidity.

It makes it possible for DeFi platforms to welcome liquidity in the form of foreign cryptocurrencies such as BTC to an Eth-based DeFi platform without the need for intermediaries like Wrapped Bitcoin (wBTC).

Over the next few months and years, the DeFi niche is expected to continue rallying, inflows will continue rising, and so will the number of users. This effectively raises demand for foreign cryptocurrency liquidity. And they all have us convinced that REN is one of the most promising cryptos and one of the best penny cryptocurrencies to buy and add.

Currently trading at a discounted price of 96% of its all-time high, a number of optimistic forecasters expect it to recapture and rise past this record price when it rallies by 1900% to reach $1.10 by the turn of the decade.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

10. The Graph (GRT) - Best Penny Crypto for the DeFi and Web3 Ecosystems

The Graph is an indexing protocol for the Ethereum protocol. It makes it to our list of best penny cryptocurrencies to invest in in 2023 because of its massively promising future. It seeks to revolutionize developments on two of the fastest-growing crypto technologies - DeFi and Web3. It provides them with an indexing protocol for querying data on the blockchain, making it easy to create DeFi, dApps, and Web3 programs using the most accurate data.

The Graph, therefore, promises to be one of the most important and arguably most impactful crypto projects to the success of the DeFi and Web3 niches. These two are poised for a massive rally and everyone is confident the developments in both spaces will spur demand for GRT tokens, which effectively catalyzes the value gain for GRT tokens.

Its close association with the fast-rising DeFi and Web3 technologies is, therefore, the primary reason why we believe The Graph to be the best penny cryptocurrency to buy right now. By the turn of the decade, we expect GRT tokens to have rallied by 2000% to break above $1.12.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

11. Chiliz (CHZ) - Best Penny Crypto for Sports and Entertainment

Chiliz is a sports and entertainment-focused cryptocurrency. It seeks to disrupt the trillion-dollar entertainment industry by revolutionizing the level of engagement between sports clubs and their fans. Through their proprietary Socios platform, Chiliz lets sports clubs create custom tokens that they can then distribute to users.

These governance tokens give the holder a right to vote on some of the club's decisions such as the shirt design for the next season. They could also be traded for CHZ tokens on the Chiliz secondary marketplace - which can then be traded for other crypto assets.

Launched in 2017, Chiliz tokens and blockchain were warmly welcomed into the crypto community. This is evidenced by the fact that CHZ tokens have sustained an uptrend, peaking at $0.89 in early 2021 - which is more than 5500% above its introductory price. The Socios platform, on the other hand, has onboarded such big sports clubs as FC Barcelona, AS Roma, Juventus, Paris Sain-Germain, and even the UFC - which have millions of fans across the world who double up as potential Chiliz and Socios platform users

At the time of writing, the token has shed as much as 87% of its all-time high. But in the next 10 years, the crypto community is confident that CHZ token prices will rally by as much as 1900% to break above $2.10. And all these informed our decision to add Chiliz tokens to our watchlist for the best penny cryptocurrencies to buy and HODL.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

12. Cronos (CRO) - Best Exchange-Based Penny Crypto to Buy

Cronos is the native token for the relatively new Cronos chain. We include it on our list of best penny cryptocurrencies to invest in because of two primary reasons. First, we feature it here because of its fast-growing ecosystem. In addition to boasting of operating one of the fastest-growing and most liquid exchanges, it too has integrated several emerging crypto technologies. 

These include a DeFi staking platform that pays interests of up to 14.56% to platform users, a lending platform that lets you borrow up to 50% of your staked crypto, dApps, smart contract technology, and NFTs. Not forgetting that is an EVM-compatible blockchain - allowing for interoperability. 

We also believe it to be the best penny crypto to buy and hold today because it is an exchange-based blockchain. Like us, the majority in the crypto community as well as both fundamental and technical analysis reports indicate that Cronos has all it needs to mirror the gains reported by the Binance Smart Chain. And seeing that Binance is a $50 Billion ecosystem (both BNB and BUSD), we expect CRO tokens to rally 25X and get close to this level in the next few years. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

13. Vechain – Penny Cryptocurrency That Is Using Blockchain To Transform Logistics

In a global economy, supply chains are often complex and far-reaching, involving many different players. As a result, they can be difficult to manage and track. Vechain is a cryptocurrency that is working to change that. By using blockchain technology, Vechain provides a secure and transparent way to track the movement of goods throughout the supply chain.

This information can be accessed by all parties involved, making it easier to manage inventory and ensure that products are delivered on time. In addition, Vechain's traceability features can help to reduce fraud and counterfeiting. As a result, Vechain has the potential to transform global supply chains, making them more efficient and more secure.

Vechain has already secured deals, especially in the fashion industry. As it inks more partnerships, Vechain could emerge as one of the best cryptocurrencies to buy and hold long-term. Besides, now that it has tanked due to the 2022 cryptocurrency bear market, it easily stands out among the best penny cryptocurrency to buy in 2023.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

14. Zilliqa – An Efficient Cryptocurrency For Developing Smart Contracts

Zilliqa is designed to handle a high volume of transactions. The Zilliqa team has been working on the platform since 2017 and, as of 2022, the Zilliqa blockchain can handle 2,828 transactions per second. This makes it one of the fastest blockchains in the world. In addition to its high transaction throughput, Zilliqa is also scalable. 

This means that the Zilliqa blockchain can grow to support even more transactions as needed. As businesses and organizations begin to adopt blockchain technology, they will need platforms that can handle large numbers of transactions quickly and efficiently. Zilliqa is well-positioned to become a leading platform in the enterprise blockchain space.

Besides its strong use case, Zilliqa has taken a significant hit in the 2022 bear market. However, this has not in any way affected the growth and adoption of Zilliqa. This means that at these depressed prices, there is a mismatch between price and fundamentals. The result is that from a long-term investment perspective, Zilliqa is one of the top penny altcoins today.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

15. Reef Finance – A Fast-Growing DeFi Cryptocurrency

Decentralized finance is one of the hottest trends in the crypto world. By allowing users to borrow, lend, and trade cryptocurrencies without intermediaries, DeFi protocols have unlocked a new level of financial freedom. However, most DeFi platforms are built on Ethereum, which is notorious for its slow transaction speeds and high fees. Reef Chain offers a solution: a fast, scalable blockchain that is fully compatible with Ethereum's Virtual Machine (EVM).

 With Reef Chain, users can enjoy all the benefits of DeFi without sacrificing speed or affordability. In addition, Reef Chain is a "proof-of-stake" blockchain, which means that it uses far less energy than traditional "proof-of-work" blockchains like Bitcoin. As the DeFi revolution continues to gain steam, Reef Chain is poised to play a leading role.

Besides being in a market with strong odds of growth, Reef Finance has a lot going on that could play into its value going into the future. In recent years, scaling has been one of the most talked-about topics in the cryptocurrency community. As the blockchain industry continues to grow, so does the need for faster and more efficient transaction processing. Currently, many popular blockchain platforms need help to keep up with demand, leading to high fees and delays.

The good news is that new technologies are being developed all the time that can help to address these issues. One such technology is Reef Chain, which allows for tech growth by burning transaction fees. Reef Chain is designed to be scalable from the ground up, allowing it to handle a large number of transactions without any slowdown. In addition, its unique consensus algorithm means that transaction fees can be dynamically adjusted according to network conditions. 

As a result, Reef Chain has the potential to revolutionize the way we scale blockchain technologies. All this, coupled with its current low prices and market cap, makes Reef Chain one of the best penny cryptocurrencies to buy and hold.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

What Is A Penny Crypto?

A penny crypto, the equivalent of a penny stock, refers to digital currencies that sell for between a few cents to less than $5. They are inexpensive but highly risky crypto investments, which makes them highly attractive to most crypto investors and traders.

Is Penny Cryptocurrency A Good Investment?

Like stock, penny crypto is only a good investment and worth adding to any portfolio if it has the ability to grow over time.

Going through all the cryptocurrencies we have covered in this guide, you will realize that they all are massively potent. Furthermore, the majority of crypto analysts and investors expect them to sustain an uptrend into the foreseeable future.

Here are a few other reasons why penny cryptocurrencies are great investments:

Little investment required

Given their incredibly low prices, you do not need a big crypto account trading balance to get started. This is to say that even with the $10 minimum trading amount required by eToro you can still buy hundreds, sometimes thousands, of a specific crypto asset.

Easy to diversify the portfolio

It is easier to diversify your portfolio when you invest in penny cryptocurrencies. You do not need to break the bank to add tens of cryptos to your crypto portfolio seeing that most sell for less than a penny.

Let you invest in specific crypto niches

Most of the penny cryptos are niche-specific. For instance, SHIB is a meme coin, MANA is a metaverse token, and REN is dedicated to DeFi and Web3. They, therefore, let you invest in the crypto niche that you believe has the most potential to blow up.

How To Analyze The Penny Crypto’s Fundamentals

When investing in a penny cryptocurrency, your primary focus should not be the number of zeros before the decimal. It may feel nice to buy millions of tokens for $100. However, if the project happens to be a scam or just worthless, then that money would be wasted.

In such a scenario, you would be better off buying a tiny fraction of Bitcoin, Ethereum, or any of the other big cryptos.

When analyzing the fundamentals of a penny cryptocurrency, the key factors to consider are as follows:

The use case

It is very easy for anyone to create a token. There are apps that anyone can use to come up with a token. That’s why there has been an explosion in tokens in the market, and most of them trade in pennies.

To differentiate between a money grab and a real project, look at the use case and how well it is presented. This, you can easily do by looking at the whitepaper.

If the whitepaper is less than 10-pages long and is made to be as graphically enticing as possible, then the chances are that it is nothing more than an advertisement meant to trigger you to invest.

Most serious projects tend to have very lengthy whitepapers. Such whitepapers also tend to be very detailed. In fact, a layman without a good background in tech may find it challenging to understand some parts of an excellent technical whitepaper.

After going through the whitepaper to get an idea of the use case, check whether it is unique or just a copy of another project. If the use case is just a copy of what is already in existence, then it’s time to move on.

That’s because a project that does not take time to come up with an original idea, or at least improve on what’s existing, is unlikely to deliver any tangible value to investors.  For instance, it is very difficult, almost impossible for penny crypto to compete with Bitcoin in the store-of-value market.

You are probably wondering, how can I tell if a project is original or just a copy-paste of other projects? Well, some creative individuals have already foreseen this problem.

Today, there are apps out there that can help you find out which projects have the exact use case and whitepaper to the project you want to invest in.

Look at the team

The team behind the penny cryptocurrency you are looking to buy is as important as the use case. If the team is weak, they are unlikely to deliver on whatever promises they make.

Look at the token distribution

Before investing in a penny cryptocurrency, it is important to look at how the tokens are distributed. As a rule, go for projects where most of the tokens are highly distributed. If only less than 10 wallets own more than 70% of the total supply, that’s a huge red flag. The chances of such a project being a scam are usually very high.

Adherence to a roadmap

Another factor you should consider before investing in a penny cryptocurrency is adherence to the roadmap. If a project keeps missing out on a key milestone by any chance, that’s a huge red flag.

It could either mean that the project does not have the technical capacity to follow through on its roadmap, or was just launched as a money grab, with no intention of following through with the roadmap.

Where To Buy Penny Cryptocurrencies

All the top penny cryptocurrencies that we have covered in this guide are massively popular and continue to gather a lot of investor interest. They have, therefore, been listed with arguably all the most popular crypto exchanges and trading platforms.

But if you are just starting out, we recommend registering and trading these with any of the following crypto exchanges:

• eToro - Best for beginners because of its user-friendly trading platform, low deposit limits, transparent pricing model, and integration of social and copy trading tools.
• Coinbase - Best exchange to buy penny cryptocurrencies instantly. Features an intuitive trading platform and is deeply liquid.
• Binance - Best exchange for ultra-low crypto trading fees. It has low deposit and trading minimums, is the most liquid crypto exchange, features a wide range of crypto assets, and insures its clients’ crypto holdings.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How To Buy The Best Penny Crypto - Step by Step Guide

Are you a crypto beginner or simply new to eToro and are looking to start buying penny cryptocurrencies on the all-popular crypto trading platform? Use this simple step-by-step guide to get started.

Step 1: Register a crypto trader account on eToro

Start by opening the official eToro website and clicking on the “Join Now” button to get started. Complete the user registration form that pops up by entering such basic personal information as your name and phone number, email address and country of residence, income sources, and crypto trading experience.

Step 2: Verify your identity

The multi-regulated crypto exchange requires all its platform users to verify their identity. Simply upload a copy of your national I.D, passport, or Driver’s license.

Step 3: Deposit funds

Log in to your approved eToro account and on the user dashboard, hit the “Deposit” button. On the funding menu that pops up, choose your preferred deposit method and follow the prompts to transfer funds - noting that the minimum deposit amount into eToro for UK and US residents is $10.

Step 4: Search for penny cryptos

Once the funds reflect in your eToro trading account, tap on the “Discover” button to see the supported asset classes then choose “Crypto.” Use the search button to find one of the best penny cryptocurrencies to buy or simply look it up from the list of supported cryptocurrencies.

Step 5: Buy the penny cryptocurrency

Choose the buy option and a trading tab will pop up. Customize the trade by entering the number of cryptos you wish to buy or the amount of cash you wish to spend on the crypto trade. Then click “Open Trade” to complete the purchase.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Conclusion - Best Penny Cryptocurrency To Buy Right Now

This guide has an in-depth look at the best penny cryptocurrencies to buy today. We have looked at what makes each of these inexpensive digital currencies a valuable addition to your portfolio. We have also looked at the factors signaling their bright future and what they most likely will be worth in the next few days.

We must conclude by reminding you that like virtually any other investment, penny crypto assets are cheap but carry a high risk. Therefore, only invest what you can afford to lose.

While all the above penny cryptocurrencies have a lot of potential for growth in 2023, Dogecoin will outperform them. The Elon Musk factor, especially now that he has bought Twitter, could play a role in creating FOMO around Dogecoin this year.

eToro – Best Platform To Buy Penny Cryptocurrencies

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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