The most successful cryptocurrencies started as penny crypto. Bitcoin, for instance, only reached $1 in early 2011 but proceeded to grow its value by a massive 6 million percent by the time it hit its current peak 10 years later. ETH, the second most valuable crypto has posted near-similar gains, growing its worth by more than 1.6 million percent - from the ICO price of $0.3 in 2015 to its current peak of $4891 set in late 2021.
These aren't isolated cases. On the contrary, the crypto-verse is rife with cases of penny cryptos that eventually blow up, growing their value and investors' profiles by inconceivable rates.
In this guide, we will be helping you understand the 10 best penny cryptocurrencies to buy. These have the highest potential of ultimately blowing up and expanding your investment tremendously.
10 Best Penny Cryptocurrency To Buy For 2022
Here is the summarised brief of what our analysis indicates to be the top 10 best penny cryptocurrencies to buy in 2022.
A Closer Look At The Top Penny Cryptocurrencies To Buy In 2022
In coming up with this list, we analysed hundreds of cryptocurrencies - technically and fundamentally - to find which penny crypto has the best chance of eventually blowing up.
This analysis, which most in the crypto community agree with, pointed us to these top penny cryptocurrencies. They all are currently selling for less than $5 today, but have solid roadmaps, and sustainable blockchains, have attracted a lot of investor interest, and their adoption rate has been on a consistent uptrend.
Let us go over each, understanding what makes them the best penny crypto to buy and what they will most likely be worth in future.
1. Polygon (MATIC) - Overall Best Penny Cryptocurrency To Buy In 2022
Polygon is the most valuable and most promising layer-2 scaling solution for the Ethereum blockchain. It seeks to increase Ethereum's efficiency by cutting down on gas fees while increasing transaction processing speeds. It has already received a roaring welcome from the crypto community with a growing number of on-chain brands like Uniswap and Opensea as well as off-chain brands like Stripe, Adobe, and DraftKings.
We expect this popularity and adoption to shoot to the roof once Ethereum 2.0 upgrade takes effect, which would hurl Polygon's undervalued token prices to unimaginable heights. This is the primary reason why we believe Polygon to be the overall best penny cryptocurrency to buy for 2022.
Two other factors influenced our decision to feature Polygon on our list of best penny crypto to buy in 2022. First, Polygon appeals to developers and brands working on such fast-rising crypto technologies as Web3, NFTs, DEXs, and more. We, therefore, expect more of these to build on Polygon and the multitude of users that they bring along to ignite a MATIC price run.
Secondly, Polygon is a multi-chain scaling solution and we expect it to extend its operations to other blockchains over the next few years. We expect the move to expand its use cases and increase the demand for MATIC tokens, which has the net effect of blowing up their value.
But just how high up can it get? Well, MATIC has been selling for between $0.3 and $1.60 for the last 3 months. In the next 5 years, forecasts expect it to reach $28 before extending this later and breaking above $80 - a 5000%+ value gain - by the turn of the decade.
2. Cardano (ADA) - Best Established Large Cap Penny Cryptocurrency to Buy
Cardano makes it to our list of best penny cryptocurrencies to buy in 2022 because it is a grossly undervalued coin. Though it is a top 10 crypto with a market cap of more than $15 Billion, the largest smart contract network and one of the most formidable Ethereum competitors still sells for cheap.
But there is a legit explanation for this. And it lies in Cardano's 'Peer Review' design. Unlike any other blockchain out there, all programs and protocols have to be peer-reviewed before they can be onboarded to the Cardano network. This has made Cardano less dynamic and adoptive of emerging crypto technologies. It, for instance, only integrated the smart contract feature in late 2021.
This has impacted the demand for ADA tokens and kept their prices low. But it hasn't watered down developer and investor interest in the altcoin. Moving forward, we expect Cardano to onboard all the developing crypto technologies including Web3, NFTs, DEXs, algorithmic stablecoins, DeFi, Metaverses, and play-to-earn gaming.
By the time the majority of these technologies launch, we expect ADA token prices to have embarked on its biggest upward price correction yet. Some analysts have even opined that Cardano will eventually overthrow Ethereum as the most valuable and most useful smart contract platform. By the turn of the decade, our analysis expects ADA tokens to be selling for around $30 - having grown their current value by more than 6000%.
3. Ripple (XRP) - Best Penny Cryptocurrency to Buy at a Discounted Price
When Ripple launched in 2012, a number of analysts described it as the ultimate Bitcoin killer. Everyone recognised its role in the future of the crypto-verse. In line with this, XRP was listed with all the popular cryptos exchanges around, and investor interest in the altcoin grew as evidenced by the growing number of wallets holding XRP and rising trade volumes.
But before taking on Bitcoin, Ripple trained its guns on the international SWIFT payment system. It posted significant success early on against this platform and even onboarded dozens of international banks and other financial institutions.
Everything was working well for the altcoin. The majority of analysts are even confident that it could have escaped the penny crypto tag during successive market rallies in 2021. But the SEC filed a case against Ripple Labs and its management team - accusing them of selling illegal securities to US residents. This sent Ripple token prices plummeting.
But investor interest in the altcoin hasn’t died and they have helped sustain it as a top 10 crypto asset. Similarly, the number of wallets holding XRP tokens has increased, and the number of brands willing to embrace Ripple has grown. This tells us that it is only the SEC case that is holding preventing Ripple from blowing up.
And after a series of small wins in court against the SEC, the majority of analysts are confident that Ripple has a chance of winning this case. And such a victory would catapult its value to unprecedented heights.
By the turn of the decade, for instance, these expect XRP prices to have torn above $20 (higher if it wins the SEC case). This makes its current price at a discount of 6000%+, further confirming why the altcoin is one of the top penny cryptocurrencies to buy in 2022.
4. Decentraland (MANA) - Best Metaverse Penny Crypto to Buy
Decentraland is the pioneer metaverse project. It is also arguably the most popular and by far the most valuable metaverse project. It also ranks highly among the most promising metaverse crypto projects. But these aren’t the only reasons why we consider it the best penny cryptocurrency to buy in 2022.
We also feature it here because it has a wildly promising future. And we attribute much of this to the developments taking place on this blockchain and the integration of all the fast-rising and crowd-pulling crypto technologies to the metaverse. Decentraland, for instance, already integrates NFT technology to the metaverse. It is also in the process of integrating such other technologies as DeFi, dApp, Web3 programs, and more play-to-earn games to the platform.
These have created a lot of excitement about the metaverse project among crypto investors. It has seen the number of monthly active users on the metaverse skyrocket to 300k+ and leading off-chain brands like Coca-Cola, Adidas, JP Morgan, and Samsung express interest in building on the platform.
We also believe Decentraland to be a top cryptocurrency to buy in 2022 because it is a relatively new crypto technology in a niche that has drawn massive interest from the crypto community. By 2030, our analysis indicates that MANA token prices will have rallied by more than 5000% to break above $50.
5. Shiba Inu (SHIB) - Best Penny Crypto For Quick Value Gains
Shiba Inu is the second most valuable meme currency and one of the most popular joke coins. We include it on our list of best penny cryptocurrencies to buy in 2022 because of the massive gains it promises its investors. During the early 2021 crypto market rally, for example, SHIB rallied by more than 5 million percent, making hordes of crypto investors rich.
We feature it here because we expect its prices to continue rallying, effectively making its investors rich. Some of the factors that we believe will make this possible are the recovering crypto market and revived meme currency hype. Additionally, Shiba Inu developers have committed to expanding the Shiba Inu ecosystem by launching an NFT marketplace and a token Launchpad.
They have also increased the burn rate for SHIB tokens tremendously and collaborated with different e-commerce stores that will accept SHIB payments. All these, are expected to ignite a value gain for SHIB tokens and by the next market rally - possibly in 2025 - we expect SHIB tokens to rally by as much as 10000%.
6. Stellar Lumens (XLM) - Most Promising Penny Cryptocurrency
Stellar Lumens, like Ripple, seeks to revolutionize the global finance industry. It is an open-sourced payment network that seeks to change how individuals across the world interact with money, especially cross-border transfers, and provide crypto storage services to the underbanked and unbanked.
We include it on our list of best penny cryptocurrencies to buy in 2022 because of its promising future. It is already carving its niche in this multi-trillion dollar industry and provides actionable solutions to the under/unbanked. And as blockchain and cryptocurrency adoption continues to gain momentum, we expect Stellar to draw in more users who will help ignite and drive its much-needed price run.
By the turn of the decade, we expect XLM tokens to have rallied by more than 50000% and broken above $50. This, too, further convinces us why XLM is the best penny crypto to buy during the current dip as you could be buying the altcoins at a massive bargain.
7. Basic Attention Token (BAT) - Best Penny Crypto for Long-Term Investing
Basic Attention Token is one of the most popular cryptos for the token economy. Like equally revolutionary penny cryptos, BAT takes a stab at the multi-billion dollar digital advertising industry. It also appeals to the growing demand for online privacy by giving you more control over the amount of personal information advertisers collects from you.
It works closely with the Brave browser where the majority of BAT tokens are given out freely to the browser users. At the time of writing, the Brave browser is recording over 62 million monthly active users. The number of digital advertising brands using the platform and interacting with the BAT tokens has also been on a steady rise. And so have been the trade volumes of BAT tokens in the open markets.
Moving forward, we expect to see more brands flock to the platform to take advantage of its fast-tracked popularity. We also expect to see the number of users on the platform rise steadily over the next few years as more individuals appreciate the privacy-focused token economy.
These, plus a recovering crypto market and a sped-up adoption rate of blockchain and crypto technologies will all play a crucial role in driving up BAT token prices. Over time, fundamental and technical analysts are confident that BAT token prices will rally to new heights, possibly breaking above $20 - having grown its current price by close to 7000%. And this is the reason we consider Basic Attention Token the best penny crypto to buy and hold as a long-term investment.
8. Chiliz (CHZ) - Best Entertainment-Focused Penny Crypto
Chiliz is a sports and entertainment network dedicated to launching and supporting traders of all walks of life. It achieves this through the proprietary Socios platform and its native coin - the CHZ token. Through the platform, Chiliz invites all sports and entertainment outfits around the world to create customized tokens that they can then sell to their fans.
The holders of these tokens also assume limited governance rights over the club and get to participate in such club decisions as the shirt designs for players, the colour of the captain’s armband, and more. These tokens can be traded against other tokens on the Chiliz marketplace or converted to CHZ, which can then be converted to more popular cryptos like Bitcoin or Ethereum.
So far, the adoption of the Chiliz network and Socios platform has been overwhelming as sports clubs in Europe and beyond create platforms and distribute customized tokens to their fans. These include Juventus, AS Roma, Paris Saint-Germain (PSG), FC Barcelona, e-sports clubs, the UFC, several F1 teams, and 130+ more teams and clubs with Lionel Messi as the platform’s newest brand ambassador.
Moving forward, we expect to see more fans of these teams and clubs throng the Chiliz and Socios platforms - further affirming why CHZ is one of the best penny cryptos to buy today.
9. Tron (TRX) - Best Penny Cryptocurrency That Will Explode in 2022
Tron is one of the most popular Ethereum competitors. Created by the all-popular crypto crusader, Justin Sun, Tron was aimed at fixing the many ills facing the largest smart contract platform. Unlike Ethereum killer, however, Tron sought to assume a different approach to this. In place of trying to replicate the whole Ethereum ecosystem, it created an entertainment-focused independent blockchain.
Like Chiliz, Tron creates a platform that allows content creators to resume control of their craft. It lets them get rid of intermediaries dominating the distribution and revenue collection avenues. It lets them share their craft and content with their fans and followers directly via the decentralized network and receive a commission in the form of customized tokens.
But it also integrates multiple emerging crypto technologies into this decentralized network. These include NFTs, Web3, dApps, and DeFi. To this end, it continues to receive a glowing welcome from the crowd-pulling content creation community, which is one of the reasons we consider TRX the best penny crypto to buy today.
This support has been largely in the form of endorsements from the likes of Justin Sun and such A-list celebrities as Ne-Yo, Lil Yatchy, and Amanda Cerny. Others, like Lindsey Lohan, have gone ahead and premiered NFT token sales on the Tron network. And moving forward, we expect to see more celebrities launching content on the Tron blockchain.
These, alongside a recovering crypto market and growing blockchain adoption, is expected to help catalyse value gains for the TRX tokens. By the turn of the decade, for instance, optimists are confident that TRX will have rallied by more than 5000% and broken above $3. And it explains why we feature Tron in our index of top penny cryptocurrencies to buy in 2022.
10. Cronos (CRO) - Best Exchange-Based Penny Crypto to Buy
Cronos is the native token for the relatively new Cronos chain. We include it on our list of best penny cryptocurrencies to buy in 2022 because of two primary reasons. First, we feature it here because of its fast-growing ecosystem. In addition to boasting of operating one of the fastest-growing and most liquid exchanges, it too has integrated several emerging crypto technologies.
These include a DeFi staking platform that pays interests of up to 14.56% to platform users, a lending platform that lets you borrow up to 50% of your staked crypto, dApps, smart contract technology, and NFTs. Not forgetting that is an EVM-compatible blockchain - allowing for interoperability.
We also believe it to be the best penny crypto to buy and hold today because it is an exchange-based blockchain. Like us, the majority in the crypto community as well as both fundamental and technical analysis reports indicate that Cronos has all it needs to mirror the gains reported by the Binance Smart Chain. And seeing that Binance is a $50 Billion ecosystem (both BNB and BUSD), we expect CRO tokens to rally 25X and get close to this level in the next few years.
What Is Penny Cryptocurrency?
The term penny cryptocurrency borrows extensively from the SEC description of shares that sell for $5 and below on the stock exchange. Penny cryptocurrencies, therefore, refer to any cryptocurrency that sells for anywhere between a few pennies to $5.
Is Penny Cryptocurrency A Good Buy?
Yes, penny cryptocurrencies are worth buying because, with the right catalysts, they have the potential of blowing up and growing their current values tremendously.
In fact, and as we started by pointing out in the BTC and ETH examples at the beginning of this article, some of the most valuable cryptocurrencies available today started out as penny cryptos.
Here are a few more reasons why penny cryptocurrencies are great investments:
Reasons To Buy Penny Cryptocurrency
- Call for little investments: As the name indicates, most of these cryptocurrencies sell for pennies, indicating that you only need little capital to start trading.
- Allows for portfolio diversification: The fact that most of these sell for cheap makes the creation of a highly diversified crypto portfolio all the more possible.
- Let you invest in specific crypto niches: Most of these penny cryptocurrencies are dedicated to a specific crypto niche, e.g. Chiliz and Tron to entertainment and Stellar and Ripple to the financial industry. You therefore can use penny cryptos to target crypto niches that you believe have the highest likelihood of exploding.
Where To Buy Penny Cryptocurrencies
All the cryptocurrencies that we have covered in this top penny cryptocurrencies to buy in 2022 guide are massively popular. They continue to elicit a lot of investor interest and most have also been listed with virtually all the popular crypto exchanges.
If you are looking to start buying penny cryptocurrencies, we recommend registering with any of the following reputable crypto trading platforms:
- eToro - Best for beginner friendliness. eToro maintains one of the most beginner-friendly account registration process. It also operates one of the most intuitive trading interface, is transparent with fees, and integrates both social and copy trading.
- Coinbase - Best place to buy penny cryptocurrencies instantly. Coinbase is deeply liquid, has a wide range of cryptocurrencies and trading pairs, and has a highly intuitive trading interface.
- Binance - Best place to buy penny cryptos at low trading fees. Binance is the most liquid crypto exchange, it lists the widest range of penny cryptocurrencies and their trading pairs, and also operates one of the most intuitive crypto trading platforms.
How To Buy Penny Cryptocurrencies On eToro - Step by Step Guide
Want to jump straight to buying penny cryptocurrencies? We recommend that you register a trading account with the all-popular eToro crypto exchange first.
Here is the step-by-step guide on how to buy penny cryptocurrencies on eToro:
Step 1: Start by creating a user account on eToro
Start by opening the official eToro website and clicking the “Join Now” button. This brings up an online registration form that captures your basic personal information like your name and address, phone number, country of residence, trading experience, and income sources.
Step 2: Verify identity
To complete the registration process, you need to verify your identity. Simply upload a copy of your government-issued identification document such as an I.D, Passport, or driver’s license.
Step 3: Fund account
Log in to your approved eToro trader account and press the ‘Deposit Funds” button on the bottom left corner of the user dashboard. A funding tab will pop up, indicating all the payment options available to you. These include credit cards, debit cards, PayPal, bank transfer, Skrill, SOFORT, Neteller, ACH, etc.
Step 4: Search for the penny crypto
From the list of the best penny cryptocurrencies that we have discussed above, choose one coin you would like to trade and look it up on the list of cryptocurrencies supported on eToro.
Step 5: Buy the penny crypto
Choose the “BUY” option and a trading tab will pop up. Use it to customize the trade by indicating the number of tokens you wish to buy or the amount of cash you wish to spend on the trade.
Note: The just purchased penny cryptocurrencies will be deposited into the exchange-based and custodial eToro wallet. You, however, are free to move them to the eToro mobile wallet app or third-party wallets and exchanges.
Conclusion - Best Penny Cryptocurrency To Buy In 2022
Throughout this guide, we have discussed what we consider the best penny cryptocurrencies to buy in 2022. Most of these are highly promising long-term investments. The rest derive much of their value gains from hype and close association with celebrities and therefore only earn significant price moves when the markets are rallying.
Nevertheless, they all play an important role of growing your portfolio. And this explains why we bundled them to create an index of the 10 top cryptocurrencies to buy today.
Want to jump straight to buying one or a few of these lowly priced assets? Register a crypto trader account with eToro and follow the step-by-step buy guide that we have described above.
eToro – Best Platform To Buy Penny Cryptocurrencies
Open an account with eToro, deposit some funds with USD, and finally – buy penny cryptocurrencies for just $10.
FAQs On Best Penny Cryptocurrency To Buy In 2022
Which is the best penny cryptocurrency to buy today?
Our top choice for the best penny cryptocurrency to buy in 2022 has to be Polygon, the multi-chain layer-2 scaling solution. But all the 10 penny cryptos that we have included in this guide are equally promising and have equal chances of eventually blowing up their price and your portfolio.
Where to buy the best penny crypto today?
We have provided you with a choice of three of what we consider the best places to buy penny cryptocurrencies in 2022 i.e. eToro, Coinbase, and Binance. And even furnished you with a step-by-step guide on how to buy penny cryptocurrencies on eToro.
Which penny cryptocurrency will explode in 2022?
Crypto experts are highly subjective and there is no telling which crypto will explode first. But our analysis - backed by informed opinions of equally experienced crypto and fintech experts - indicates that the 10 penny cryptocurrencies we have discussed above have the highest chance of a fast rebound and an eventual price run.