3 Cheap Altcoins To Buy If You’re Looking For Penny Cryptos - Our Picks
Here’s a quick look at the top 3 cheap altcoins to buy if you’re looking for penny cryptos in 2023. Continue reading for a detailed review of each coin.
Decentraland - The best metaverse platform
Cardano - A true threat to Ethereum
Curve - One of the most popular platforms in DeFi
A Closer Look At The 3 Cheap Altcoins To Buy If You’re Looking For Penny Cryptos
Many investors welcomed the concept of cryptocurrency as a unique transaction and investment class as it slowly entered the financial system. Although the 2022 bear market has been discouraging for some, many investors are looking for the best altcoins with the hope that the next bull run begins in 2023.
Altcoins or coins other than Bitcoin have always proven beneficial for investors helping them to generate profitable returns over the long run. Cheap cryptocurrencies or penny cryptos that trade at or below $1 can be a lucrative investment as the low prices of these cryptos provide a pathway for high returns. If you’re looking for penny cryptos, these are 3 cheap altcoins to buy to diversify your portfolio.
Decentraland (MANA)
Decentraland is one of the most popular metaverse platforms that hails itself as the 'first completely decentralized metaverse project managed by a decentralized autonomous organization (DAO)'.
Trading at $0.399910, MANA is one of the best cheap altcoins to buy, as Decentraland has attracted popular brands and celebrities to foray into the metaverse. Companies, starting from Samsung to JP Morgan, have established their projects in Decentraland. Numerous artists are creating their galleries and selling NFTs and artwork virtually through the platform. Virtual conferences have been taking place on Decentraland continuously. And interestingly, a group of crypto enthusiasts from Arizona adopted the network to arrange the first metaverse marriage. In addition to all this, Netflix, the streaming giant, has partnered with Decentraland and is using the platform for conducting a digital maze, a replica of the one in the movie “The Gray man.” All these bode well for Decentraland, pumping its adoption rate and making MANA the best penny crypto to buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Trading at $0.3147, ADA is one of the best sustainable penny cryptos to invest in for profitable returns. Cardano is known for its real-world utilities that span from education and healthcare to agriculture, retail, and finance. In addition, the crypto has solid fundamentals and ranks as one of the most decentralized and developed in the crypto space.
The team behind Cardano has always been consistent with network upgrades. In 2021 Cardano became a fully functional smart-contract-compatible blockchain network with the launch of the Alonzo hard fork. In 2022, the launch of the Vasil hard fork again enhanced the network’s scalability and implemented blockchain performance upgrades. Additionally, Cardano unveiled a decentralized exchange baked on its blockchain in early 2022 to provide liquidity to the network.
One main reason to be bullish about ADA in 2023 is the one product launch that caught the attention of investors - a new fiat-backed stablecoin that will be complete in early 2023. The new stablecoin, known as the USDA, would be fully regulatory compliant and less risky than other algorithmic stablecoins. This will eventually unlock the world of DeFi for Cardano, opening multiple opportunities for potential investors.
ADA is one of the top cheap altcoins to buy in your search for penny cryptos, as it is also making some serious moves in the NFT market. There is also a rapid growth in the number of crypto wallets holding Cardano, suggesting that the network continues to gain traction from users, developers, and investors worldwide.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Curve (CRV)
CRV is the governance token of one of the largest decentralized exchanges called Curve. It is an innovative crypto project that aims to facilitate a frictionless and optimized yield-generating protocol for users. The crypto’s real-time access to valuable spending and behavioral data makes it highly efficient, responsible, and timely lending offers across a variety of alternatives. CRV, the governance token of Curve finance, is used to pay liquidity providers.
It is also one of the most popular automated market maker (AMM) platforms within the crypto sphere. Thanks to its highly efficient way that allows users to exchange tokens, along with maintaining low fees and low slippage, Curve has marked its unique position in the blockchain finance sector. The network can do so since it only accommodates liquidity pools, which are made up of similarly behaving assets.
Trading at a low price of $0.6643, which is way less than its 2020 all-time high of $60.50, CRV is one of the best cheap altcoins to buy now for doubling your returns. The amount of CRV held in centralized wallets has leaped by over 70%, and the statistics show that the total number of CRV available for liquidation has increased. An increase in liquidity means more safety, which is good, especially in this volatile environment. The Curve platform is also a significant pillar in the DeFi sector and is expected to grow even higher in the coming years.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Numerous macroeconomic conditions have affected crypto prices in 2022. But despite everything, investors are excited and are hoping for the onset of a new bull market. Although penny cryptos can be more volatile than their higher-prices counterparts, they have more long-term potential. If you are looking for the best penny cryptos, these three are the best cheap altcoins to buy now to pave the way for your wealthy future.
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