3 Cheap Altcoins To Buy If You’re Looking For Penny Cryptos

Last Updated August 15th 2022
5 Min Read

Looking for penny cryptos with huge return potential? Here’s the list. 

Altcoins or alternative digital currencies to Bitcoin have now replaced almost all large-cap currencies in the crypto market with their huge potential and real-world utilities. Novice investors are continuously searching for penny cryptos, which are digital assets trading for or under $1.

But they are often stumped by the abundance of choices due to the many blockchain projects with promising capabilities. This is why we have narrowed down the search to just the 3 cheap altcoins to buy if you’re looking for penny cryptos in 2022. 

  • The rising adoption of the leading Metaverse, Decentraland, has made MANA strong yet cheap altcoins to buy now. 
  • ADA, the best penny crypto, is garnering massive attention today for its carbon-negative initiative. 
  • XRP is already adopted by thousands of financial institutions and banks and is used as a bridge currency for international currency transfers.

 

Decentraland (MANA)

Decentraland is one of the best penny cryptos with a relatively large market capitalization to buy now. 

Decentraland is one of the early hubs for entertainment activities and economic boom within the metaverse. Built on the Ethereum blockchain, it is a virtual reality game where users can purchase virtual land to build virtual mansions. With a price of $1.02, as of now, MANA presents a reasonable entry point for those looking for penny cryptos. 

Despite being a cheap altcoin, we recommend MANA because of the rising adoption of the Decentraland blockchain. A major selling point for the unique metaverse project is that users can easily become virtual real-estate moguls by buying up cheap land NFTs and selling them for profit.

Decentralization is another key factor of Decentraland. Anyone with a plot of in-game land can create and vote on proposals to change the game. Although several blockchain-based games promise decentralization, Decentraland is one of the best platforms that has delivered the promise.  

MANA token would see a colossal rise in its price in the future as several celebrities and brands have already begun acquiring property in the metaverse. For instance, Versus Entertainment has partnered with Decentraland to develop NFTs for an upcoming film about the Ethereum founder Vitalik Buterin. 

MANA had hit an all-time high of $5.90 in November 2021. As more and more high-profile corporate and institutional investors see the metaverse as an ideal place to invest, this penny crypto could grow threefold in the next five years, hitting new highs around $8 to $9, according to predictions, making this the right time to buy it. 

buy decentraland

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

Cardano (ADA)

ADA is one of the top cheap altcoins to buy now as it has provided users with huge returns over the years. 

Whether it’s decentralized applications, new network updates, partnerships, or other projects aligned with this blockchain, investor interest is high with Cardano. Currently priced at $0.51, ADA is one of the best cheap altcoins to buy now if you are looking for penny cryptos. One reason is its fastest low-energy blockchain that is fully decentralized and peer-reviewed from its roots. Its flexible network, fast transaction, long-term scalability, and eco-friendly status will always position Cardano on the investor’s favourite list. 

It is the most efficient blockchain among developers and minted over 800,000 NFTs on its platform to date. The Alonzo update finally brought the ability to build smart contracts on Cardano's network, and now the upcoming Vasil hard fork DeFi is expected to see an overhaul on the network. Experts predict that ADA is capable of reaching $5, breaking its current all-time high of $3.10 in the near future, making ADA the cheapest crypto to buy now. 

Another reason why ADA is the best cheap altcoin to buy now is that it aims at being one of the most environmentally-friendly blockchain platforms on the market. The team’s announcement to go completely carbon negative via planting trees has garnered the attention of numerous environmental-conscious investors and institutions. 

buy cardano

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

Ripple (XRP)

XRP would hit a new all-time high once the lawsuit settles in favor of Ripple, making it one of the best penny cryptos to buy now.

Ripple hails itself as the utility for the new global economy. XRP, the native token of the Ripple protocol, has seen a colossal rise in its price and value since its inception. It has garnered the attention of several investors with its cheap entry point and ability to process fast cross-border transactions that take almost 2-5 seconds to process, at a lower rate, charging only $0.0002 per transaction. 

Ripple is one of the best cheap cryptos to buy now, even for novice investors, as it is trading at below a dollar at a price of $0.36 as of writing. Although Ripple is currently embroiled in a lawsuit brought by the U.S. Securities and Exchange Commission, the Ripple-SEC lawsuit is nearing an end in XRP’s favour. According to predictions, XRP has a high possibility of surpassing its current all-time high of $3.84, making this the ideal time to invest in this penny cryptocurrency. 

RippleNet is focused on providing fast, cheap, and convenient cross-border transactions for banks. Over 300 financial institutions in more than 45 countries use the RippleNet payment network, and Ripple has plans to expand its alliances in the future, making XRP the cheapest altcoin with massive return potential. 

buy ripple

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

The Bottomline 

These top 3 cheap altcoins are the best to buy if you are looking for penny cryptos in 2022. Along with potential use cases, these cryptos also offer huge return potential, making them an ideal choice for investors.

Read More:

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