Here are the best penny cryptocurrencies to buy in May for future returns.
Cryptocurrency is a rapidly evolving industry, and limiting yourself to large-cap tokens like Bitcoin is not wise. Although these coins are well established, other lesser-known coins are available for pennies on the dollar that have just as much potential for massive returns.
To help you choose from the list of altcoins in the market, we have listed the top cryptos under $1 to buy in May.
1. Shiba Inu (SHIB)
Shiba Inu is one of the best performing cryptocurrencies in the market today.
Shiba Inu comes first on the list of the ‘top cryptos under $1 to buy in May’, thanks to its recent rally and expansion to the metaverse. SHIB is an ERC-20 token that aims to be a direct competitor to Dogecoin. Its increasing popularity and the growth of its dedicated community point toward a dazzling future for the token.
Shiba Inu's recent rally is Shibarium, its latest blockchain project. This project would make Shiba Inu more affordable for users by reducing transaction fees. It also plans to enter the metaverse with its new project, Shiberese, adding to its ever-growing and expanding ecosystem. This virtual world will allow users to interact in digital communities, buy virtual goods and services via non-fungible tokens (NFTs), and even purchase virtual land.
2. Tron (TRX)
Tron is one of the most ambitious projects in the crypto space, making TRX the best penny crypto to buy now.
Tron has had one of the most vocal followings in the sector ever since its release in the crypto market in 2017. TRX leveraged this community support and its unique technical aspects to become one of the top cryptos under $1 in the market.
Tron aims to build a free, global digital content entertainment system upon the idea of distributed storage, allowing for easy and cost-effective sharing of digital content. The crypto allows developers to create and deploy decentralized apps for virtually any purpose, including online games, decentralized exchanges, yield farms, and open lending platforms.
3. Dogecoin (DOGE)
The world’s largest memecoin is certainly one of the top cryptos under $1 to buy in May.
After a shady past, DOGE has resurfaced, thanks to Elon Musk's tweet and the release of the Dogecoin roadmap for 2022. Nobody expected this meme coin to become legit in 2013, let alone be included in the list of top cryptocurrencies to invest in. The touchstone of any leading cryptocurrencies is the popularity and fan wave that builds around them. The unique and vibrant Dogecoin community has allowed DOGE to achieve massive popularity and success over the years.
Moreover, with the rapid increase in institutional adoption and acceptance by retailers, Dogecoin is likely to experience more growth. Additionally, with the release of the Dogecoin roadmap 2022, the developers have laid down a series of plans for the future, pushing DOGE’s value and demand.
4. Stellar (XLM)
The significant growth of XLM makes Stellar one of the top cryptos under $1 to buy now.
Stellar is a decentralized protocol that facilitates cross-border, low-cost payments for banks, individuals, and businesses. Thanks to its excellent transaction speed and low fees, XLM has been gaining traction in the cryptocurrency community. Stellar uses a unique federated Byzantine Agreement (FBA) to validate transactions rather than a regular mining network. Stellar’s low transaction fees also give it tremendous potential for micropayments.
A critical factor that would fuel the price and demand of XLM is scarcity. Stellar has destroyed half of its Lumens at this time and does not plan to create more. Therefore, the coin will become scarce in the future, and rarity would increase the token's value to new highs. Moreover, Stellar has lots of room for growth, making it one of the best cryptocurrencies under $1 to add to your portfolio.
5. Ripple (XRP)
Thanks to Ripple’s transformative potential within the banking sector, XRP is one of the top penny cryptocurrencies to buy now.
Ripple was designed to help banks and financial institutions make worldwide transactions within seconds for an affordable price. As a result, XRP has positioned itself as one of the largest cryptocurrencies and an independent digital asset. The token’s real-world utility as a less costly and more scalable payment makes it a cryptocurrency with high intrinsic value.
Currently, Ripple has support from large financial institutions and banks that have already settled their finances on this digital currency. Since the conclusion of the Ripple and SEC court case is expected to be positive for the token, there is no doubt that Ripple will grow higher in value in the days to come.
6. Algorand (ALGO)
Algorand, the future of finance, has marked its place in the list of the top cryptos under $1 to buy in May.
Algorand was developed to meet high computational power demands and address several crucial challenges. The smart contract platform aims to solve the blockchain trilemma by improving scalability, decentralization, and security.
The crypto aims to achieve global trust among trustless parties through blockchain-based decentralization. It focuses on simple designs for developing technology that can eliminate barriers to prosperity. The team behind Algorand is making a considerable effort to create new projects that will expand the possible use cases of the ALGO token, adding it to the list of the top cryptos under $1.
There are numerous altcoins in the market today that have the potential to make attractive returns on your cryptocurrency investments. If you are looking for penny cryptocurrencies to invest in now, these are the top cryptos under $1 to buy in May 2022 to generate profitable returns in the long run.