The best penny cryptocurrency for 2018 can be a lucrative way to expand your crypto portfolio. While investing in penny cryptocurrencies can scare many traders, if you do your own research they can provide you with tremendous potential.
Our TSG team believes there are still some secret gems out there in the countless list of coins. There are more than 1600 coins on the market and growing. From this enormous list, we’re going to pick for you the top penny cryptocurrencies to invest in.
Remember, at one point even Bitcoin was a penny coin!
A cheap coin doesn’t necessarily mean that cryptocurrency is undervalued or untrustworthy. This line of thinking shows a basic misunderstanding of supply and demand and market cap. Many new ICOs and developer teams are very innovative. They create coins with artificially low prices so that the new investors will be interested in their cryptocurrencies.
It’s common psychology that people would rather own 1,000 cheap coins than 0.10 of Bitcoin. Bitcoin is expensive, so most of the time you can’t get your hands on multiple bitcoins at once unless you’re a multi-millionaire. However, you can buy 1,000 Ripple XRP for only $400 which is much better to have than 0.050 BTC.
Moving forward, we’re going to dive into the things you need to look for so you can find the best penny cryptocurrencies to invest in, but first, let’s just start with what are penny cryptocurrencies?
What are Penny Cryptocurrencies
A penny cryptocurrency is any coin that it’s worth less than $1.00. In a sense, they can be considered the same how penny stocks are in relationship to classic shares. The same relationship exists between penny coins and normal cryptocurrencies.
To a certain extent, penny coins are more volatile and if you pick the wrong one it's certainly a risky investment. Nevertheless, they also have huge potential to generate 100x, 500x or even 1,000x return.
Some penny coins have generated outstanding returns. For example, Etherum back in 2017 was up almost 10,000%. But even this performance pales in comparison with the 1,582,000% gain realized by Verge XVG.
Before even thinking to generate this type of returns, we first need to learn a good place where to buy penny cryptocurrency.
Where to Buy Penny Cryptocurrency
Unfortunately, buying penny cryptocurrencies is a two-step process. You simply can’t buy coins under $1 directly with fiat money. For this purpose, you first need to purchase either Bitcoin or Ethereum with fiat money. Most altcoins are traded against Bitcoin or Ethereum, so you need to have BTC or ETH to buy penny cryptocurrency.
The number one exchange that allows you to buy crypto with fiat money is Coinbase. So this is the first step. Secondly, after you purchased your Bitcoin you simply transfer your BTCs to an altcoin exchange like Binance so you can buy your penny crypto.
#1 Binance This is by far our most trusted and recommended place to buy and sell cryptocurrency. Binance is known for a strong team, proven products, superior technology, and industry resources. They have a solid relationship with industry leaders and are capable or 1,400,000 orders per second which by far makes them the fastest exchange in the market today. You can sign up with them in less than 5 minutes here.
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Let’s now see what are the penny cryptocurrencies to invest in and which have the potential to generate insane returns.
Penny Cryptocurrencies to Invest In
We’re always on the lookout for coins under $1 or penny cryptocurrencies to invest in and have the potential to explode and double, triple our money. This is what our crypto portfolio is all about.
We need to focus on the significance of a cryptocurrency that’s valued at under $1. Not all coins are created equal, so in some cases, it’s better to buy a fraction of a Bitcoin than 1,000 altcoins that have no future and are just some scam coins built on hype.
Having said that, our team at TSG will give you our top three penny cryptocurrencies to invest in that have growth potential. We encourage everyone interested in investing in the cryptocurrency space to do his own research on all the coins because you don’t want to HODL ship coins.
Penny Cryptocurrency #1: IOTA
Our first choice for coins that cost less than $1 is IOTA. IOTA has the potential to change the way we make payments. There’s a huge difference in the IOTA blockchain to almost every other cryptocurrency out there.
IOTA is promising absolutely free transactions. So, if you’re engaging in IOTA network and want to send a payment, you need to use your device to confirm two payments and in that way just participating in the network is enough to get access to it.
The no-fee characteristic allows for all types of microtransactions which are going to make IOTA a good bag to HODL in your crypto portfolio.
If you’re looking for a practical way to trade IOTA, please check our trading strategy: IOTA Cryptocurrency Strategy – Busted Double Top Pattern.
Penny Cryptocurrency #2: Ripple XRP
Our second favorite penny cryptocurrency is Ripple XRP. This cryptocurrency that it’s currently trading at $0.35 has tremendous growth potential.
Ripple promises to help banks and financial institutions on how to handle transactions and payments. If you’ve ever been to a bank and realized how much money it cost to do a simple wire transfer, you’ll realize that they steal money from you.
Everything is slow and everything is really expensive. Ripple can work with the banks or it can work without them, but it will allow for fast real-time transactions. This also happens at a fraction of the cost.
If you’re looking for a practical way to actively trade Ripple, please check our trading strategy: Best Ripple Trading Strategy that can make you Millions
Penny Cryptocurrency #3: SiaCoin
Our third cryptocurrency under $1 is SiaCoin which allows users to rent out their unused hard drive space and make money. One thing that makes this blockchain technology so appealing is that it has a variable pricing model.
So, as more users add storage, the price will go down and if the storage becomes scarce the price for storage will go up.
This technology has huge potential to disrupt Amazon AWS, Dropbox and Google Drive. For that reason and the fact that it’s trading under 1 cent – at the moment of writing this article – we think it has incredible growth potential and it could really be disruptive in the cloud storage industry.
If you’re looking for a practical way to trade Siacoin, please check our trading strategy: Free Siacoin Cryptocurrency Strategy – ADX Gapper Setup.
Conclusion – Best Penny Cryptocurrency 2018
The blockchain technology has the potential to really change the way that people handle money, especially over the next 10 to 20 years. When you’re investing in cryptocurrencies the most important thing to do is research.
The most important thing is that penny cryptocurrencies are a great alternative investment choice for those who don’t have lots of cash. Our best penny cryptocurrency 2018 guide simply highlights three projects that we believe have a higher potential return than the involved risk.
We think these three coins are the best cryptocurrencies to invest in because they have a solid potential to explode on the upside over the course of 2019. Remember that at one point even Bitcoin was a penny cryptocurrency.
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