Best Penny Cryptocurrency To Invest In 2023

Take a look at the top 10 best penny cryptocurrencies to invest in 2023.

Last Updated December 28th 2022
12 Min Read

More people are expected to invest in cryptocurrency in 2023 than ever before, as the economic instability in recent months has caused many to re-evaluate their views on digital currency. In fact, it is estimated that as many as 1 billion people worldwide will hold cryptocurrency before the end of the year. 

It certainly is an exciting time for the market, with increased competition amongst the top-tier tokens, the ever-evolving DeFi market and the ongoing NFT trend that shows no sign of slowing down. But with tokens like Bitcoin and Ethereum commanding token high prices, many would-be investors are deterred by what appears to be a high entry point into the market.

Even the more moderately priced tokens, such as Binance Coin and Solana can see values above $100 per token. Of course, it’s possible to buy a fraction of a token and realistically, buyers can enter the market at just about any price point - it’s one of the great things about cryptocurrency - but many investors prefer to acquire a larger holding.

Fortunately, there are plenty of penny cryptocurrencies on the market. These are tokens that are currently trading for less than $1 and many of them are very promising projects. But which ones are likely to explode in the year ahead? In the following article, we’ll run through 10 of the best penny cryptocurrencies to invest in in 2023. 

Why Consider Penny Cryptocurrencies

The psychological effects of lower-priced tokens are well-documented. It is exactly the same in the world of stocks and shares - a lower price often appeals to investors. Of course, when it comes to returns, everything is about percentage, so the starting-price of a token has absolutely no significance. 

For example, if you buy $100 worth of Bitcoin (about 0.0025 BTC) and it goes up 10%, you end up with $110 of Bitcoin. If, on the other hand, you buy $100 of Shiba Inu (about 3 511 235,95505618 SHIB) and it goes up by 10%... you also end up with $110. So what’s the appeal with penny cryptocurrencies?

The main reason to consider investing in penny cryptocurrencies is the potential for growth. Remember, most of the major cryptocurrencies - including Bitcoin - tradies for pennies at some point in their existence. Whilst it is unlikely that any tokens will see the staggering prices achieved by BTC, a lower-priced token has much more room to grow and investors getting in at the right price could see substantial returns. 

Best Penny Cryptocurrency To Invest In For 2023

We’ve chosen our list of the best cryptocurrencies to invest in 2023 based on a few factors. Firstly, a prerequisite is that each of the tokens on our list has a trading price of less than a dollar at the time of writing. In addition to this, we also considered each tokens’ current popularity as well as its use case. 

So, in no particular order, this is our list of the ten best penny cryptocurrencies to buy in 2023:


First on our list is Tron - an ambitious project that was set-up to revolutionise the way we consume content online. By connecting digital artists directly with their audiences, Tron seeks to decentralise the world of digital entertainment by removing the need for third-party hosting platforms like Netflix and NowTV. 

The blockchain is effectively a peer-to-peer content sharing platform that allows artists to publish their work directly, meaning consumers potentially get a better deal than they would by going through a traditional platform. To facilitate this service, the Tron Foundation acquired the world’s biggest file sharing platform, BitTorrent, back in 2018. 

More recently, Tron has made moves in the NFT market by developing its own standard - TRC-721 - to allow users on the network to mint their own tokens. All things considered, the platform is very well placed to cash in on this trend and its outspoken CEO, Justin Sun, does a great job of keeping the project in the public eye. 

Check Out: TRON (TRX) Price Prediction

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

Stellar XLM

Stellar is another project with a very interesting use-case. Developed by the Stellar Development Foundation, a nonprofit organisation, the project was set up to provide a cross-border remittance solution for banks and financial institutions by using its native cryptocurrency, Lumen. 

At this stage, you might be thinking that Stellar sounds remarkably similar to Ripple - and you’d be right. Both tokens serve a very similar function. However, whereas Ripple is focusing on mainstream banking institutions in some of the world’s biggest economies, Stellar is aiming to provide cheap cross-border payments solutions for developing markets. 

When it launched, Stellar certainly struck accord with investors and secured significant funding from e-payments Stripe, along with investment from Google, FastForward and BlackRock. The platform has also stirred interest in Mexico and Ukraine, as both countries seek low-cost cross border payments options. 

Stellar Lumen saw huge price surges throughout 2021 and there’s every chance these could be repeated in the future. Given the service that Stellar provides, demand for its native token could skyrocket in the coming years and with a trading price of just over $0.20, now could be a great time to add it to your portfolio. 

Don't Miss: Stellar (XLM) Price Prediction

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


IoTex is another project that performed well throughout last year and many market commentators believe the token is still very much undervalued.  The project aims to be a part of the so-called 4th Industrial Revolution - which effectively refers to the widespread adoption of the Internet of Things. 

The IoT is the term used for smart devices that are all interconnected and able to gather and share data about their surroundings and status. For example, driverless vehicles that can assess traffic or even a refrigerator that can tell when your milk is running low. IoTex seeks to provide a bridge between these various technologies and the world of blockchain, allowing everyday devices to access, interact with and exchange digital assets and smart contracts. 

Whilst the fourth industrial revolution hasn’t taken off quite as quickly as many predicted, it’s worth bearing in mind that this is true of many technologies that eventually became commonplace. Bluetooth and digital audio, for example, were both around for many years before they became the linchpins of communication and entertainment that they are today. 

If, or indeed when, the internet of things starts to gather pace, projects like IoTex could find themselves in huge demand, making today’s token price very much a bargain. 

Read Also: IoTeX (IOTX) Price Predictions

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


At this stage, even the most casual observer of the cryptocurrency market will be aware of Dogecoin. The original ‘meme coin’, Doge hit the headlines several times in 2021 when it saw huge price growth in the opening weeks of the year and seemingly against the odds, established itself amongst the top ten cryptocurrencies by market cap. 

Dogecoin’s success was largely down to its community, with a little help from timely comments from Tesla CEO Elon Musk as well as support from celebrities such as Snoop Dogg. The token became one of the most fashionable cryptocurrencies on the market and built a huge amount of momentum that allowed it to maintain a high value throughout 2021. 

Since the market downturn struck in the opening days of 2023, many market commentators have speculated that the short-lived meme coin trend may have come to an end. However, Dogecoin has been around since 2013 and its community has proven highly resilient.

So could Dogecoin eventually see another boom? We think the original meme coin has enough support for at least one more price surge. Whilst it may not be a top investment for the long term, its current price of $0.14 per token could make it worth taking a punt on. 

Don't Miss: Dogecoin (DOGE) Price Prediction

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


Ankr is another highly ambitious project that has the potential to bring genuine value to the cryptocurrency world by making cloud-based services more accessible for users and developers. An Ethereum-based project, Ankr’s main feature is that it simplifies the process of staking nodes, offering a “one-click” solution thanks to a pre-built infrastructure.

Not only does Ankr simplify staking across multiple blockchains, it also offers API and node services for developers - again, with one-click solutions to streamline processes - as well as a proprietary Ankr staking programme and layer-2 solutions for Ethereum. Put simply, Ankr is a very valuable project that serves the wider blockchain community.  

As we’ve noted above, more and more people are coming to the cryptocurrency as the months go by and many lack a high degree of technical know-how. As such, a platform that can simplify things like staking could really come into its own in the coming years. 

Despite its low token price, ANKR has demonstrated a capacity for substantial bulls and we think that its user base will start to swell in the near future. 

Check Out: Ankr Price Prediction For 2025 And 2030

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


Much like Dogecoin, Safemoon belongs to the meme coin class of token. However, there are quite a few differences between the two tokens. Whereas DOGE is more or less limited to a means of value exchange, SafeMoon offers a more innovative approach to tokenomics as well as its own proprietary decentralised exchange. 

Another thing that makes SafeMoon different from other meme tokens is that it has taken steps to improve its price stability. Most notably, the platform charges a 10% fee to anyone selling the token. A proportion of the funds generated from this are then redistributed. The mechanism serves to deter high volume buying and selling of the token and encourages holders to keep their tokens, which in turn could keep volatility down. 

Whilst it’s probably fair to say that Safemoon is yet to achieve the notoriety of Dogecoin or Shiba Inu, it certainly has its supporters. In fact, in January 2023 the platform announced that the Safemoon wallet had been downloaded over a million times

Admittedly, Safemoon is a risky investment, but if its popularity continues to grow then there’s every chance its token price will follow suit. Of course, there’s also a chance it could be the next big meme coin

Read Also: SafeMoon (SAFEMOON) Price Prediction

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


Ripple’s XRP is a top ten cryptocurrency with a trading price of just $0.79 at the time of writing. It also happens to have one of the most valuable use cases of any major token - providing major banks with a faster, cheaper alternative to the traditional cross border payments system, SWIFT. 

As it stands, banks looking to send money across borders must negotiate currency exchanges. Often this involves them having to keep holdings of several foreign currencies, not to mention having to pay spreads when making exchanges. By using Ripple’s XRP, the need for changing one currency for another is removed - which means significantly lower fees. Ripple is fast 

Whilst Ripple is still entangled in an ongoing lawsuit with the SEC, lawyers are predicting that the case against Ripple and its founders is likely to fall apart. In fact, XRP’s price has already begun to trend upwards - even as the wider market struggles to gain ground. 

Of all the tokens on this list, XRP is arguably the most well established and with such a low price, we think it should be on the radar of any cryptocurrency investor looking to expand their portfolio. 

Don't Miss: Ripple (XRP) Price Prediction

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


Algorand is a promising project that represents the cutting edge of blockchain technology and its developers claim that it is able to solve the challenge of the notorious cryptocurrency trilemma - in other words, Algorand can deliver decentralisation, scalability and security.  

Algorand solves these issues through its advanced proof-of-stake consensus mechanism that randomly selects nodes to verify blocks. The nodes can process blocks without central authorisation, but the cryptographic algorithm used by the network keeps it secure. It’s fast too - capable of processing some 1,300 transactions per second. 

Like most smart chains, Algorand is designed to offer developers a platform on which to build their own blockchain projects. At the time of writing, it has been used for everything from DeFi to real estate and over the years has seen some pretty significant investment - not least Arrington Capital’s $100m Algorand investment fund launched in 2021.

Dubbed an Ethereum Killer since its launch in 2019, Algorand is a highly advanced platform with a remarkably low token price. If you’re looking to buy into a leading smart chain, then you won’t find better value than ALGO.

Check Out: Algorand (ALGO) Price Prediction

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


Hedera Hashgraph is an interesting platform that claims to be “faster, fairer, and more energy-efficient” than other leading smart chains, such as Ethereum. This is made possible thanks to the hashgraph consensus mechanism and the fact that the whole platform is overseen by a global enterprise governing body.

Hedera offers impressive speed and functionality, but only approved nodes can participate in validating transaction history. Despite this raising some questions about exactly how decentralised the platform is, it doesn’t seem to have deterred big business, with IBM, LG and Boeing operating nodes within the protocol.

The bottom line is that Hedera offers fast transactions, low fees, and maintains impressively low energy usage and having major firms behind it offers investors a degree of confidence. Of course, there are many competing platforms out there but Hedera’s low token price makes it easy for investors to acquire a significant holding with minimal outlay. 

Read Also: Hedera (HBAR) Price Prediction

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


ECash is actually a reincarnation of Bitcoin Cash ABC, which itself came into being as a result of a fork of Bitcoin and Bitcoin Cash. ECash is intended to uphold the original remit of cryptocurrency - to provide a digital alternative to cash that can be used to pay for goods and services. 

The basic model of BitcoinCash ABC has been overhauled. Firstly,  eCash now features base units called Bits that have allowed the platform to do away with lengthy fractional numbers. For example,  0.00001000 BTC can be represented as 10 bits with eCash, making it far less cumbersome when it comes to making transactions. 

In addition, ECash uses a proof-of-stake (PoS) consensus layer which has drastically increased its transaction rate, making it a much more viable option for a retail payment method. 

Admittedly, it's not Bitcoin, but after the 2021 rebrand, ECash has carved out a clearly defined mission statement and with its ultra-low token price, it’s certainly a token that the thriftier investors out there may wish to consider adding to their portfolios. 

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


The above list includes 10 penny cryptocurrencies that could see growth in the near future. Of course, there are no guarantees in the world of cryptocurrency investment, but we believe these tokens currently offer excellent value and present good opportunities for investors looking at projects with a low buy-in price. 

But don’t let the low trading price of the tokens listed above deceive you - these are all very viable projects that have already garnered much investor attention and proven themselves capable of significant growth.

Of course, investors should remember that it's also possible to buy fractions of the more expensive tokens. Even Bitcoin is sold in Satoshis, meaning it’s possible to buy a holding for a few dollars. In addition, there are plenty of tokens out there priced between $1 and $100.

As always, the key thing to remember is diversification. A cryptocurrency’s price rarely represents the value and real-world viability of the underlying project, so investors should ensure they spread their investments according to a well-laid strategy. 

Where To Buy Penny Cryptocurrency 2023

If you want to invest in penny cryptocurrency in 2023 then you’ll find the market is highly accessible, but there are a few things you’ll need before you get started. Firstly, you’ll need a wallet to store your tokens. These come in a variety of formats and each has its strengths and weaknesses. For more information, check out our guide to cryptocurrency wallets

Once you’re up and running with a wallet, the next step is to find a broker or exchange that can give you access to the market. There are plenty to choose from, but we would suggest checking out eToro, as it is one of the most trusted names in the space.

Opening an account with eToro is simple and can usually be done in just a few minutes. Once you’re set up, you’ll have access to an award-winning trading platform that will allow you to buy and sell penny cryptocurrencies as well as get the latest data on each token. 

eToro – Buy Penny Cryptocurrencies Now

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


What is a penny cryptocurrency?

Penny cryptocurrencies are usually defined as those with a trading price of less than one dollar. Whilst returns are measured in percentages, many investors see penny cryptocurrencies as having greater potential for substantial growth. 

Where can I buy low priced cryptocurrency?

If you’re looking to invest in penny cryptocurrencies, then you’ll need to find a broker or exchange to give you access to the market. We recommend eToro, as it lists several low-priced tokens and its award-winning trading platform is suitable for both novice and experienced investors. 

What are the best penny cryptocurrencies to invest in 2023?

Investors shouldn’t make the mistake of thinking a low token price means a blockchain project is low in value. Ripple, for example, is one of the top projects on the market, yet it has consistently traded below the $1-mark. No one can accurately predict which cryptocurrencies will explode in 2023, but our list of the 10 best penny cryptocurrencies to invest in 2023 will give you some ideas of the likely contenders. 

Should I buy penny cryptocurrencies?

Penny cryptocurrencies are so-called because they have a trading price of less than one dollar. However, new cryptocurrency investors should be aware that token prices do not necessarily indicate the value of a project. In addition, when it comes to investor returns, it's all about percentages. That being said, if you are new to the cryptocurrency market and looking to start your portfolio, then penny cryptocurrencies have the advantage of a low entry price. 

Are penny cryptocurrencies worth buying?

If you look at the top ten cryptocurrencies, you’ll no doubt notice that prices vary from under $1 to almost $40,000. Not only that, but a higher token price does not necessarily equate to a higher position on the table. As such, penny cryptocurrencies make just as worthwhile an investment as those costing thousands of dollars. 

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

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