Best Penny Cryptos To Watch Out For In February - Our Picks
Looking for affordable yet lucrative investment options? These are the best penny cryptos to watch out for in February. Continue reading to find a detailed review of each coin.
Stellar Lumens - A next-generation financial solution for institutions worldwide
Tron - One of the most widely used blockchain-based operating systems
VeChain - The torchbearer of IoT and DLT technologies
Hedera - An efficient enterprise-grade distributed network solution
Cronos - One of the top cryptos to add to your watchlist
A Closer Look At The Best Penny Cryptos To Watch Out For In February
Although Bitcoin is one of the top choices for crypto investments, investors can often get burned by its high price and volatility. This is why penny cryptocurrencies or cryptos that trade below $1 could be the best option, especially now, when the market is settling down after a major bearish cycle. Since they are cheap and have numerous benefits, penny cryptos offer investors the chance to make a 100x return in the bull run in 2023.
With hundreds of cryptocurrencies in circulation, deciding which cryptos are worth investing in can take time and effort. So to help you out, here are the best penny cryptos to watch out for in February.
Stellar Lumens (XLM)
The proposed goal of Stellar network is to promote financial inclusion by providing financial services to the world’s unbanked population. Through simple, quick, and low-cost transactions, users can have access to a global economy.
XLM, the native token of the network, supports all the activities performed on the blockchain. Trading at $0.09192, XLM is one of the best penny cryptos to watch out for in February as the network is building a cost-effective platform to trade tokens worldwide. The project has also formed partnerships with some big names in the corporate world, like Visa, IBM, and Circle.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tron (TRX)
Tron, the blockchain-based decentralized network, focuses on the worldwide digital content entertainment structure. Employing distributed ledger technology enables straightforward and cheap data-sharing facilities. Therefore, the primary use case of TRX is to support creators and artists by offering them complete ownership over the content they create. In addition, it aims to decentralize the internet and give more power back to users.
Tron network can also execute smart contracts, allowing programmers to leverage it for creating decentralized applications. There has been a steady and increased interest in dApps on the network, and over 100 dApps are running on it, with utilities ranging from exchanges to gambling and gaming. With a price tag of $0.0606, TRX is one of the best penny cryptos to watch out for in February, as the team has more plans in the pipeline to develop the Tron ecosystem.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
VeChain (VET)
VeChain is a layer-1 smart contract platform that aims to challenge the existing traditional system of data management. VET gained massive attention in 2021, pushing the price to hit an all-time high of $0.2782. But today, the crypto has plunged and is trading at $0.022145, followed by the 2022 market crash. However, its growth potential has made VET a strong candidate for the best penny cryptos in 2023.
This elite blockchain platform employs a unique distributed ledger technology (DLT) to enhance supply chain management and business processes. By increasing transparency within the global supply chain, the crypto significantly boosts production quality and solves several crucial roadblocks in the economy. Therefore, VET is an ideal penny crypto to buy as it helps businesses in solving real-world problems. VeChain has multiple use cases. For instance, it helps monitor and control enterprise supply chains, cut waste and enhance productivity, identify food fraud, and much more.
VeChain has several partnerships for its enterprise blockchain solutions, including big names like DB Schenker, Walmart China, Bayer China, LMV, and NTT.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Hedera (HBAR)
The Hedera network is a widely used, sustainable, enterprise-grade public ledger designed for a decentralized economy. Unlike other cryptos, Hedera is built on the hashgraph model,
Secured by the Proof-of-Stake (PoS) consensus mechanism. Its patented algorithm makes it a non-forkable network.
The network offers fast transactions with a relatively low cost and extremely fast finality, providing a suitable environment for both developers and users. It has several partnerships and applications on its network, like the Arkhia, which has joined hands with Google Cloud to fuel the growth of distributed ledger applications on the Hedera network. Its next-generation DLT features help Arkhia in increasing its offerings. Trading at $0.0652, HBAR could be the next penny crypto to explode in 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cronos (CRO)
Cronos is the native token for the most popular crypto exchange, Crypto.com. Earlier known as Crypto.com Coin, it was rebranded in February 2022. Right after the rebranding, there has been a significant rise in user adoption, with over 350,000 unique wallet addresses performing transactions on Cronos. With a price of $0.07998, CRO has positioned itself as one of the best penny cryptos to add to the watchlist this February.
It is also a well-established smart contract platform with a decent number of projects in the pipeline. However, CRO came into the limelight and grabbed investor attention paltry because of its heavy promotional activities. For instance, it has big names like Matt Damon as the face of one of its high-profile advertising campaigns.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
One of the best things about penny cryptocurrencies is that they have the potential to make massive gains if invested in the right coin at the right time. Therefore, take your chance and add these best penny cryptos to watch out for in February to your list.
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