10 Best Penny Cryptocurrencies To Buy For 2022

Last Updated July 7th 2022
18 Min Read

Here are two interesting facts. Between early 2011 and late 2021, Bitcoin prices jumped from under a dollar to peaking above $64000 - rallying up 64000X in less than a decade. Ethereum posted similar gains when it rallied from $0.3 in 2015 to peak at $4890 - rallying up 16300X in less than 6 years.

Over the next decade, more penny currencies 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 2022 and hold for explosive gains over the next few years?

In this post, 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 10 cryptocurrencies to invest in 2022.

Let us dig in.

Top 10 Penny Cryptocurrency To Invest In 2022

Here is a list of what we consider the best 10 cryptocurrencies to buy and HODL in 2022. They all are priced under $5 per token.

  • Polygon (MATIC) -  Overall Best Penny Cryptocurrency to Buy and HODL
  • Ripple (XRP) -  Highly Discounted Penny Crypto to Invest in Today
  • Cardano (ADA) -  Best Established Large-Cap Penny Crypto
  • Decentraland (MANA) -  Most Promising Penny Crypto for the Metaverse
  • Shiba Inu (SHIB) -  Best Meme Currency to Invest Today
  • Basic Attention Token (BAT) -  Great Penny Crypto for Long-Term Investing
  • Stellar Lumens (XLM) -  Popular and Highly Useful Penny Crypto to Buy and HODL
  • Ren (REN) -  Most Promising Penny Crypto to Buy in 2022
  • The Graph (GRT) -  Best Penny Crypto for the DeFi and Web3 Ecosystems
  • Chiliz (CHZ) -  Best Penny Crypto for Sports and Entertainment

 

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 2022

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 10 best cryptocurrencies to buy today and HODL for the next 10 years.

1. Polygon (MATIC) - Overall Best Penny Cryptocurrency to Buy and HODL

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 in 2022.

Other factors that make us add Polygon among the most promising penny cryptocurrencies for 2022 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.

buy polygon

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

2. Ripple (XRP) - Highly Discounted Penny Crypto to Invest in Today

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 $0.3 average in June 2022 - implying that it already is discounted close to 80%.

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 Ripple among the best penny crypto to buy in 2022.

buy ripple

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

3. 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 2022. It currently is the 7th most valuable crypto project and its prices have been ranging between $0.4 and $1.60  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 $5 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 in 2022.

buy cardano

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

4. 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 buy in 2022.

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.

buy decentraland

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

5. 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 in 2022.

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.

buy shiba inu

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

6. 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.

buy BAT

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

7. 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 to buy in 2022.

Stellar Lumens are already selling for a discounted price, more than 85% 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 50000% to rise above $50.

buy stellar

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

8. Ren (REN) - Most Promising Penny Crypto to buy in 2022

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 in 2022.

Currently trading at a discounted price of 90% of its all-time high, a number of optimistic forecasters expect it to recapture and rise past this record price when it rallies by 20000% to reach $20 by the turn of the decade.

buy ren

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

9. 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 2022 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 in 2022. By the turn of the decade, we expect GRT tokens to have rallied by 20000% to break above $20.

buy graph

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

10. 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 90% 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 10000% to break above $10. And all these informed our decision to add Chiliz tokens to our watchlist for the best penny cryptocurrencies to buy and HODL.

buy chiliz

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.

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 On eToro For Beginners - 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 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.

Note: The private keys for the purchased penny cryptocurrencies will be deposited into the free and exchange-based eToro wallet. You, however, are free to move them to your eToro mobile wallet app from whence you can transfer them to third-party wallets and exchanges.

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 In 2022

Throughout this crypto buying guide, we have discussed what we consider the 10 best cryptocurrencies to invest in in 2022.

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.

Want to start buying penny cryptocurrencies today? Follow the step-by-step guide we have provided above and start creating a crypto portfolio in less than 10 minutes.

eToro – Best Platform To Buy Penny Cryptocurrencies

Open an account with eToro, deposit some funds with USD, and finally – buy penny cryptocurrencies for just $10.

etoro cryptocurrency trading

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

FAQs On Best Penny Cryptocurrency To Buy In 2022

What is penny crypto?

The term Penny cryptocurrency - just like penny stocks - is used to refer to any digital currency that sells for a few cents or under $5.

What is the best penny crypto to buy in 2022?

Our overall top pick for the best cryptocurrency to buy and HODL is Polygon - primarily because of its hugely promising future. In this guide though, we covered nine other penny cryptocurrencies that we believe have near-similar chances of blowing up soon.

Where to buy the best penny cryptocurrencies today?

A growing number of crypto exchanges and trading platforms will let you invest in the best penny cryptocurrencies listed hereinabove. To get started with crypto investing today, follow the simple step-by-step guide we have outlived - which teaches you how to buy penny crypto on eToro.

Which penny cryptocurrency will explode in 2022?

We cannot tell with utmost accuracy what penny crypto will explode in 2022. Through our analysis and interactions with the crypto community, however, we have singled out these 10 cryptocurrencies and believe that they have the highest probability of blowing up soon. 

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

Read More:

Top 10 Most Undervalued Cryptos To Buy

Best Crypto Under $1 - Cheapest Cryptocurrency To Buy Revealed

Best Cryptocurrencies To Buy For The Upturn

Best 10 New Cryptocurrencies To Invest In

Best Cryptocurrencies Under $10

15 Most Promising Cryptocurrencies To Invest In

10 Best Penny Altcoins To Buy And Hold For Massive Growth