Best Penny Cryptocurrency to Buy for 2023

Many cryptocurrency investors have considered the best penny cryptocurrency to invest in at some point. Low-price cryptos can be defined as digital assets that cost less than $1 per token – based on equivalent SEC guidelines on equities.

Some of the most prominent penny cryptos on the market boast unprecedented returns with the likes of Cardano rising by 17767.44% from an all-time low of $0.01735 in 2017 to an all-time high of $3.10 in 2021, and Polygon that rose from $0.003012 in 2019 to $2.92 in 2021 representing an increase of 96,845.6%.

While ADA and MATIC are examples of long term penny cryptos that have held their value, there are also new penny cryptos that crop up every week. Currently, Pepe coin stands out from the crowd as one anonymous trader made around 5,000,000% profit by spending $263 in May to buy trillions of PEPE tokens.

In this guide, we analyze the best penny crypto to buy on a budget. We also take a closer look at how to buy the most promising penny cryptocurrencies in a few beginner-friendly steps.

A Closer Look at the Top Penny Cryptocurrency to Invest in

When you invest in cryptocurrency in the US – the process is a fairly simple affair these days.

It’s selecting the right tokens that can be challenging, not to mention picking the best platform to access your chosen digital assets.

Let’s start by providing you with further information on the best penny cryptocurrency to invest in. After that, we’ll go into more detail about how and where you might complete your purchase.

1. Wall Street Memes – Newly Launched Meme Coin with 1M Strong Community and Over $25M Raised, $50K $WSM Airdrop Also Up for Grabs

Wall Street Memes is a well-known online brand specializing in publishing crypto and finance-related memes, aka ‘shitcoins and stonks’, and recently they have issued a presale for their own meme coin, which started a price of just a couple of cents – $0.025.

However, this is not the Wall Street Memes team’s first crypto rodeo. During the 2021 NFT mania, the team launched a popular NFT collection, NFT Bulls, which sold out in 32 minutes. 

Similarly, its new project, the Wall Street Memes token, raised a considerable $250K in its first 24 hours and has currently raised just over $25M USDT. This is an impressive feat only a few presales achieve. However, Wall Street Memes has a clear advantage: it has over 1 million followers across all its social channels, interested in meme tokens and meme stocks – which can refer to penny stocks or undervalued stocks with a cult following.

While most projects start from zero, Wall Street Memes has begun with a massive head start. Therefore, the presale could quickly gain traction in the coming weeks, selling out much faster than usual. Nonetheless, investors must consider that all presales carry risk, even when the token price is in the pennies.

The presale has a total supply of 2 billion tokens and 50% available at presale with a hard cap of $30,577,000.  

The starting presale price of $0.025 has now risen slightly to $0.0337 as this penny crypto presale quickly advanced to its next presale rounds. In total, there will be 30 rounds in which the price will incrementally increase. The presale is expected to close by September Q4 when $WSM will go live on exchanges. 

Therefore, investing at the ground level is ideal when looking to capitalize on lower market prices. However, keep in mind that all penny cryptos are subject to the same level of volatility and there’s no guarantee that $WSM could maintain a high price once it lists on crypto exchanges.

The Wall Street Memes Twitter account has already received interactions from numerous high-profile industry figures. For example, Elon Musk has interacted with the account before, once replying to a tweet, with his reply getting over one million views.

Investors can participate in a competition for $50K worth of $WSM by completing a series of simple tasks. The prize will be split between five winners; you can learn more about the airdrop in the project’s Discord.

Alternatively, you can stay updated on the project and its community events in the Wall Street Memes Telegram.

2. Bitcoin BSC – New Proof-of-Stake Crypto Priced at $0.99 on Presale, Over $1.4 Million Raised on Presale 

The next penny cryptocurrency to watch right now is $BTCBSC, the native token of Bitcoin BSC. This new cryptocurrency allows investors to buy Bitcoin at only $0.99 per token. 

Bitcoin BSC is not affiliated with the Bitcoin project but does offer a similar token supply of 21 million. While Bitcoin’s network releases new tokens via mining, Bitcoin BSC will follow a proof-of-stake (PoS) consensus. Bitcoin BSC is built on the BNB Smart Chain (BSC), and offers higher throughput and lower gas fees than Ethereum. 

It is also more sustainable than Bitcoin since Bitcoin uses a lot of computational energy to mine new tokens. The added benefit of Bitcoin BSC is that token holders can earn huge APYs (Annual Percentage Yields) by staking $BTCBSC. Firstly, investors can buy $10 worth of $BTCBSC on presale and then stake the tokens. 

At press time, the staking APY is set at 422%. The more one stakes, the more they can earn on the ecosystem. As new blocks are validated, Bitcoin BSC will release new tokens to the staked token holders. There are 6.125 million tokens available to buy on presale. 

The $0.99 price has been set because it pays homage to when Bitcoin was trading at $1 back in 2011. The successful presale has already raised over $1.4 million. Any unsold presale tokens will be added to the staking contract, which has a 120-year vesting period. This can also help promote long-term holding among token holders. 

Read the Bitcoin BSC whitepaper and join the Telegram channel to stay updated with the presale. 

3. Launchpad XYZ – Platform with Insights and Techniques for Informed Financial Decisions

Launchpad XYZ is an emerging penny crypto that aims to assist investors in making informed decisions within the dynamic Web 3.0 ecosystem. The platform simplifies smart investing by offering a user-friendly dashboard with exclusive insights, including market sentiment for various cryptos.

The project’s native token, LPX, is presently available for $0.0445 USDT in the presale, with an anticipated listing price of $0.07 USDT. Those wondering how to buy Launchpad XYZ tokens can refer to an in-depth guide for further information. 

The platform offers an alert system that notifies investors about upcoming crypto private sales, NFT minting events, play-to-earn game releases, and other essential project details, empowering them to make well-informed investment choices.

As per the Launchpad XYZ whitepaper, the platform delivers reliable data, insights, and market sentiment for novice and experienced investors to help them navigate Web 3.0 investments successfully. The platform encourages users to depend less on external advice and focus on their assessments when making financial decisions.

The upcoming integration of a decentralized exchange (DEX) will significantly enhance Launchpad XYZ’s goal of making the central hub for the Web 3.0 business community.

While participating in crypto presales carries risks, it also opens gateways for non-linear gains. Coins like Tamadoge have demonstrated their potential for lucrative returns.

The LPX token plays a vital role within the Launchpad XYZ ecosystem. Staking a minimum of 10,000 LPX tokens allows users to enjoy early access to top P2E game betas, reduced trading fees on the Launchpad XYZ DEX, and discounts on products and services from Launchpad XYZ partners.

Users must stake at least 10,000 LPX for 90 days to access these premium benefits, highlighting the token’s practical use.

The platform delivers crucial metrics for various utility tokens, including liquidity, analyst opinions, custom indicators, and arbitrage opportunities.

By supplying real-time data on Web 3.0 investments, Launchpad XYZ enables users to identify new opportunities before they become widely available.

Subscribing to the Launchpad XYZ Telegram channel effectively lets interested individuals stay updated on the project’s development.

4. yPredict – A Cutting-Edge Crypto Analytics Platform with Accurate AI-Powered Forecasts

yPredict offers cutting-edge crypto analytics tools, comprehensive research facilities, and an intuitive trading platform. AI experts who leverage Natural Language Processing (NLP) and various other AI techniques create their precise forecasting models.

During the initial presale, each $YPRED penny token is priced at $0.1 USDT. Also, it’s worth noting that the list price has been set at $0.12 USDT, giving buyers an assured upside over the coming months.

As a new penny crypto, yPredict and other cheap tokens have little to no price history that can be used for market research and technical analysis. They may therefore be deemed riskier trades, yet could also provide huge ROIs as witnessed with past penny cryptos such as TAMA (Tamadoge), which yielded 400% returns for a number of savvy crypto enthusiasts.

It’s key to do your homework on penny cryptos yourself to determine if they’re a suitable fit based on your financial goals and current crypto portfolio.

The yPredict token smart contract, crafted on the versatile Polygon blockchain, is the product of a completely transparent and KYC-verified team.

To cater to the emerging sector of algorithmic trading, the platform brought together financial mathematicians and AI specialists to develop yPredict’s prediction models. These models help anticipate shifts in the market and project crypto valuations.

yPredict offers a variety of features, including automated trading indicators and in-depth technical analysis. Utilizing our unique pattern detection algorithm on charts, traders can spot upward and downward market trends.

As the yPredict whitepaper outlines, token holders who stake their $YPRED tokens presently receive 10% of subscription revenues. During the Token Generation Event (TGE), up to $6.5 million, which accounts for 50% of the presale tokens, will be made available. The total number of tokens that will ever be in circulation is capped at one billion.

Stay connected with the platform’s latest developments by joining the yPredict Telegram channel.

5. eTukTuk – Eco-Friendly Penny Crypto With A Large EV Network To Promote Sustainability

eTukTuk, a green penny crypto on the Cardano blockchain, is revolutionizing the transportation industry with a carbon-neutral solution. 

Responding to the global demand for sustainable transport, eTukTuk combines electric vehicles (EVs) and blockchain to transform Sri Lanka’s traditional TukTuk landscape.

By replacing high-emission vehicles with their electric counterparts, eTukTuk aims for cleaner, safer transport. As per the eTukTuk whitepaper, their EVs include a patented roll cage design for safety and sustainability, making them a viable alternative.

eTukTuk’s native token, $TUK, is in the whitelist stage, marking an essential step in its journey before it hits the exchanges.

Critical to the success of this green transition is eTukTuk’s development of an accessible charging network throughout Sri Lanka. This strategic deployment ensures affordable EV charging and promotes reduced operational costs for drivers.

eTukTuk is partnering with The Capital Maharaja Group, a prominent Sri Lankan conglomerate. This collaboration supports local manufacturing, reducing costs and potentially increasing driver earnings, thereby improving profitability.

Alongside environmental initiatives, eTukTuk’s mission addresses financial inclusion. Its blockchain ecosystem offers digital identities, promoting low-cost transactions and providing an inclusive platform for everyone.

The platform’s vision goes beyond reshaping transport; to set a new industry standard for adapting to climate change and digital transformation. The token is currently priced at $0.024 on presale. 

To stay updated, you can join the eTukTuk Telegram channel.

6. Scorpion Casino – Best Casino-Based Penny Crypto That Provides Passive Income

Scorpion Casino is one of the best penny cryptos to buy for 2023, as it provides a passive income to holders based on the casino’s performance. Users that hold SCORP can earn up to $10,000 USDT in a daily passive yield, depending on the casino’s performance. The project wants to position itself as the future of eGambling by providing the number one social online gambling platform that allows everybody to earn.

The casino provides over 210 casino games, with an additional 160 live games, allowing users to enjoy their favorite titles such as blackjack, roulette, poker, and slots. The games are of the highest quality as the casino is connected with major gaming providers such as Evolution, EGT, and AMATIC.

The project also provides a sportsbook, allowing users to bet on the outcome of their favorite sports matches and games. The sports betting product has all the major leagues integrated for sports such as football, tennis, golf, horse racing, basketball, boxing, and MMA.

The best part about being involved in this project is that the casino is fully licensed and regulated by the Curacao EGaming licensing entity, making the casino fully transparent and provably fair.

The passive income is provided through a 10% buy/sell tax. This helps to contribute to ecosystem development, marketing, and liquidity. 2% of the tax is also re-distributed to all holders, meaning SCORP holders see their balance grow over time. Furthermore, 1% of the tax is also used to burn SCORP, making it a deflationary token.

SCORP is the exclusive payment method throughout the entire Scorpion ecosystem and is the default currency for betting on sports, esports, and casino. However, major cryptos like BTC, ETH, and BNB are also accepted. The project is hosting a presale to sell SCORP, and those that invest more than $1,000 are enrolled in the Elite Scorpion Members Club, which provides VIP services, cashback on the casino, extra staking rewards, and additional SCORP tokens.

Lastly, those that use the exclusive bonus code Scorpion20 will get an extra 20% tokens on their initial investment, which is available for a limited time only.

7. BTC20 – A Green ERC20 Token Built to Reflect the Price and Supply of Bitcoin in 2011, Presale Sold Out

A new project, BTC20 ($BTC20) has designed a token that combines features of the two most successful cryptocurrencies of all times – Bitcoin and Ethereum. $BTC20 is an Ethereum token that offers staking rewards to holders. The token can be used in governance and possibly even within smart contracts.

It’s a proof of stake ecosystem, meaning that it is much more environmentally friendly as compared to Bitcoin. One of the main criticisms of Bitcoin was that it was not environmentally sustainable. So the project addresses the two fundamental flaws of Bitcoin  – lack of sustainability and lack of token utility. But it also adds staking rewards for holders with a 120 year vesting period. These are major incentives for interested investors.

It further captures the economics of Bitcoin as it existed in 2011. The price and supply of $BTC20 are $1 per token and 6.05M in circulation, identical to BTC in April 2011, with a total supply of 21M. This will play heavily on investors who have a fear of missing out and who are annoyed at not having invested in Bitcoin over a decade ago, and seeing where the price is right now (over $30K).

Imagine being able to buy Bitcoin for  $1, right now? Of course, you are not actually investing in Bitcoin, but $BTC20, in a project that is designed to look like Bitcoin – there is no evidence that it will follow a similar price pattern.

Still, nostalgia could play a factor and the whitepaper reiterates that the project is aligned with core Bitcoin ideals. Bitcoin maximalists could derive value from this project as it does offer an accurate reflection of Bitcoin tokenomics and ideals, while enhancing it with staking, utility governance, and an eco-friendly blockchain.

The 120 year block schedule can also help to assist with a long term orientation and the roadmap has plans for strategic partnerships and expansion beyond 2025, to ensure project longevity.

It is a brilliant initiative, and the easy price of $1 per token could attract a lot of investors.

But the whitepaper should be read in depth before investment, as it outlines all the criteria, and any investment can result in a loss. You can also follow on Twitter and Telegram to stay in touch with the project and to glean further information.

Acceptable payment methods include BNB, USDT, ETH, and card.

8. XRP20 – Proof-of-Stake Cryptocurrency Inspired by XRP, Presale Raised $3.68 Million

XRP20 is a new proof-of-stake (PoS) cryptocurrency, which sold out on presale. This token has been inspired by the XRP project and has a similar token supply of 100 billion. 

The XRP token is used to facilitate cross-border transactions and is leveraged by banks and financial institutions. However, the XRP20 token will be used mainly by retail traders. Built on the Ethereum blockchain, XRP20 will support staking mechanisms and provide more autonomy to token holders. One can stake $XRP20 in the ecosystem and generate a passive income. 

$XRP20 also ensures that the public gets access to the majority of the tokens. When XRP was launched, it allocated 80% of its token supply to the parent company, Ripple. Another 20% was given to the development team. On the other hand, XRP20 has allocated 40% of its 100 billion token supply for the ongoing presale. 

The presale managed to raise $3.68 million, after allocating 40% of the total token supply. Now, XRP20 has released a staking mechanism, that offers a 46% APY to token holders.

10% of the token supply will also be burnt in the long term. 0.1% of all buy and sell transactions are sent to a burning wallet address. A further 10% of the supply will be used to maintain DEX liquidity, while the remaining 40% will be used for staking purposes. 

Read the XRP20 whitepaper and join the Telegram channel for more information on this cryptocurrency. 

9. Pikamoon – P2E Gaming Penny Crypto with Newly Launched Presale 

While gaming tokens such as Axie Infinity (AXS) and Decentraland (MANA) have massively corrected in the last few years, a new play-to-earn gaming crypto could be the next top token to invest in 2023. $PIKA is the native token of Pikamoon – an NFT gaming ecosystem. 

This penny cryptocurrency is priced at just $0.0006 per token during its final presale round. From a total supply of 50 billion, 15 billion tokens are being allocated across three rounds.

On the Pikaverse, $PIKA can be used to purchase Pikamoon NFT avatars through a marketplace. Your Pikamooon NFTs will battle and explore different regions within the virtual world of Dreva. The first-generation Pikamoon NFTs have a total supply of only 18,012. 

Each NFT belongs to four regions – the Water Kingdom, Flame Empire, Thunder Collective, and the Earth Regions. In this game, players can use their avatars in battles and quests to earn $PIKA tokens as rewards. 

Those who purchase special NFT items, such as weapons and potions from the marketplace, stand a higher chance of emerging victorious within the competitions. While the platform has not been released yet, the Pikamoon whitepaper states that the project will develop an offline and online mode. 

In the online mode, users can access Player v Player matchmaking and online tournaments. Moreover, you can build a team of Pikamoon NFTs and purchase virtual land to expand your empire. 

With this penny cryptocurrency expected to launch on exchanges in Q2 2023, investors can buy $PIKA during the presale before the price increases. 

10. Chiliz – Best Penny Crypto for Sports and Entertainment Tokenization

Chiliz is a subsidiary of Mediarex Group, a multinational sports and entertainment company created in 2006. After almost two years of innovation and development, the team minted 8.8 billion Chiliz tokens in October 2020. At the time of writing, Chiliz has a market cap of around $540 million, making it one of the cryptos with the highest potential. The CHZ token price is currently $0.077.

Investor interest in tokens tied to entertainment businesses seems to be on the rise in general. So how does it work? Users may engage in the blockchain platform by actively exchanging Chiliz for ‘Fan Tokens’. As such, this is the best penny cryptocurrency to buy for people who want to invest in sports tokenization.

The Chiliz team created the Socios platform, which is based on the Chiliz blockchain architecture. It is on this platform that the native Chiliz token runs. This sports fan interaction platform contains a variety of polls that deliver the most up-to-date information while also bridging the gap between sports teams and fans.

For operation, it has its own mobile application. All you have to do is download the app from your Android or iOS app store and you can swap Chiliz tokens for Fan Tokens. You will also be able to vote in polls run by teams using them. Chiliz 2.0 should enable the trading of NFTs and other digital assets, as well as offer transaction gas fees that are at least 500x lower than Ethereum.

Cryptoassets are a highly volatile unregulated investment product. 

11. XRP – Buy Established Large-Cap Penny Crypto For International Payments

Ripple is a payment protocol that processes international money transactions using blockchain technology. It has worked with hundreds of financial institutions that use its technology. Ripple’s goal is to provide incredibly fast processing times and minimal transaction costs.

The company’s native cryptocurrency, XRP, was launched in 2012 and is one of the best penny cryptos to buy right now. 100 billion XRP tokens were created prior to its launch. Ripple put 55 billion XRP into an escrow. It also set up smart contracts to release 1 billion XRP each month. At this time, this popular penny crypto has a market capitalization of around $37.5 billion and a price of $0.71. 

Ripple can sell as many tokens as it wants when they’re released in order to raise funds, and unsold tokens will be placed in a new escrow. To verify transactions, the XRP cryptocurrency employs a consensus system. Validators check proposed transactions against the most recent version of the XRP ledger and accept the ones that are valid.

For a transaction to be confirmed, it must be accepted by the majority of XRP validators. A typical XRP transaction takes five seconds to complete. As a bridge currency, XRP tokens can be utilized by financial firms to exchange currencies at a lower cost. They can also use XRP instead of fiat currencies. Moreover, even at the token’s all-time highest price, the transaction cost was just 0.00001 XRP.

Cryptoassets are a highly volatile unregulated investment product. 

12. Shiba Inu – Best Penny Crypto with ‘Meme Coin’ Potential

One of the best low cap crypto gems on the market is Shiba Inu (SHIB). Most crypto investors will have heard of this token as it burst onto the scene in late 2021, following the incredible rise of Dogecoin. Like Dogecoin, SHIB was designed to appeal to retail investors – yet ended up catching the attention of the mainstream media.

Between September and October 2021, the SHIB price rocketed by nearly 1,400% as it gained traction on various social media platforms. Although the coin couldn’t maintain these heights, Shiba Inu still has huge backing on Reddit and can often provide double-digit returns on certain days due to its low price. It has a current market cap of around $4 billion. 

The main thing holding Shiba Inu back is a lack of real-world use cases, although this looks to be rectified by the launch of ShibaSwap – the native DEX of Shiba Inu. This marketplace offers token swapping, liquidity pools, and even an NFT trading platform. All in all, if more utility can be added to the coin, it would undoubtedly lead to a more optimistic Shiba Inu price prediction for many investors.

Cryptoassets are a highly volatile unregulated investment product. 

13. Cardano – Top Third-Generation and Highly Functional Penny Crypto

Cardano (ADA) was created in 2017 and is one of the top cryptocurrencies by market cap. At the time of writing, Cardano has a market capitalization of over $10 billion and the price of ADA is $0.30. The maximum supply of Cardano tokens is 45 billion. Cardano is also a highly functional digital currency.

This penny crypto was created as a next-generation evolution of the Ethereum concept. The Cardano blockchain is a sustainable, scalable, and flexible platform for running smart contracts. This makes way for the creation of a variety of decentralized finance apps, games, new crypto tokens, and more.

Cardano aspires to be the most environmentally-friendly blockchain platform available. Instead of the energy-intensive proof-of-work approach used by the likes of Ethereum, it employs a unique proof-of-stake consensus process called Ouroboros. Cardano also intends to decentralize entirely.

This will be achieved by implementing community-driven governance, in addition to an automated treasury mechanism to fund the network’s development. This is possibly the best penny crypto to buy for those who believe the world will move towards a decentralized future.

This is because, with such a large market cap, this digital currency is likely to be reactive to market prices. As such, Cardano should grow along with the broader crypto market. ADA went up 50% after we made this Cardano price prediction.

Cryptoassets are a highly volatile unregulated investment product. 

What is a Penny Crypto?

Penny cryptocurrencies, like equities, trade for a few cents or less than $1 per unit. They are inexpensive to invest in despite being high-risk ventures, which is what makes them so attractive to crypto traders. Newly minted cryptos are coins that are new to the market and are not widely recognized by the public.

There are four categories that can be used to classify penny cryptocurrencies: abundant cryptos, newly introduced cryptos, depreciated cryptos, and fallen cryptos. Abundant cryptos signifies digital currencies with substantial supplies, while newly introduced cryptos are recently launched coins that lack widespread recognition.

Depreciated cryptos means cryptocurrencies that previously held significant value but experienced a decline in price due to market volatility and a bearish sentiment from investors. On the other hand, fallen cryptos represent coins that have existed in the market for an extended period without any noteworthy price jumps.

It’s therefore important to understand what type of penny crypto you’re dealing with so that you can adjust your investing strategy accordingly. Risk management is a part of this strategic investing but we’ll get into that further down.

Why Invest in Penny Cryptos?

Some penny cryptocurrencies are appealing because they offer unique use cases while others are highly speculative based on social hype and volatile price histories. The common denominator when it comes to investing in penny cryptos is that they’re cheap, usually costing under one dollar making their potential for high ROIs just that more enticing.

But what are the reasons that some beginners choose to invest in penny cryptos? Let’s explore some of the motivating factors.

High Potential for Positive ROIs

The key motivating factor pushing traders to invest in penny cryptos is down to the high ROI potential over the short and long term that cryptos under $1 offer. Furthermore, with such high upside potential there are more profitable opportunities when compared to established cryptocurrencies.

To demonstrate this point if we simply look a recent example we’ll see that new penny cryptos such as Turbo coin jumped by over 2,000% over several months. Similarly Dogecoin, currently trading at $0.06184 has risen by over 72,000% since it was first launched in 2015. According to CNBC, traders who invested in DOGE in January 2021 saw massive ROIs with a $1k investment turning into $121,000 when it hit highs of $0.74 in May 2021.

But even with older cryptos such as Cardano and Polygon, at the time of writing their prices are trading at considerably lower levels in comparison to their ATHs signaling that there’s an equal chance of losing capital as there is of profiting.

While investing in new penny cryptocurrencies comes with risk, it usually provides experienced traders an opportunity to earn huge profits that they wouldn’t have had the chance to with other longer established cryptos. This is because penny cryptos can experience much steeper peaks in a shorter amount of time. Just keep in mind the underlying risks of investing in penny cryptocurrencies with limited price histories, and ensure you conduct sufficient market research.

Below we discuss some of the reasons you might elect to buy the top penny cryptocurrencies for 2023 :

You Don’t Need to Have a Big Account Balance to Buy Penny Crypto

One of the most obvious advantages of learning how to buy penny cryptocurrencies is that you don’t need to have a big account balance.

That is to say, with all tokens coming in at less than $1, you could invest in hundreds of different cryptocurrencies for less than the cost of a single Bitcoin or Ethereum, for example.

The minimum deposit on regulated crypto platform eToro.com is just $10 for US and UK traders, and slightly more internationally. This means that with fractional investing you can buy portions of a whole coin with less buying power.

The benefit of buying penny cryptos is that you don’t need to spend a fortune to build a diversified crypto portfolio. Penny cryptos give investors the opportunity to invest small amounts while still maintaining the chance of earning big returns.

Buy the Best Penny Cryptos to Diversify Your Portfolio of Investments

As well as the cost-effective nature of buying penny crypto, you can also minimize risk by not allocating hundreds or thousands of dollars to a single speculative asset.

As such, although there is still a risk, you don’t have to put all of your eggs in one basket. It’s easy to build a diverse and well-rounded portfolio of digital currencies, and with very little cash outlay.

For example with a $100 investment you could create a diversified portfolio consisting of a wide range of penny cryptos. The benefit of doing this is that you can invest across a multitude of use cases with each penny crypto offering a different business plan to the other. Some penny cryptos offer real-world utility such as:

• LUNC which currently trades at $0.00009986 – this penny crypto uses fiat-pegged stablecoins to make global payment solutions work more efficiently.
• XRP which at press time has a market price of $0.71 – as a popular penny cryptocurrency the XRP Ledger offers some of the lowest costs to transact cryptos, as well as high scalability and transaction speeds of 3 seconds.

How to Buy the Top Penny Crypto – $WSM Guide

Our recommendation for the best penny cryptocurrency to invest in is Wall Street Memes.

• Step 1 – Create a Cryptocurrency Wallet: Download a crypto wallet like MetaMask and connect to the wallstmemes.com presale website.
• Step 2 – Buy ETH/USDT and Connect Wallet: WSM can be swapped with other ERC-20 tokens, such as USDT or Ethereum. They can be purchased from a suitable crypto exchange and transferred to your respective crypto wallet. After buying the tokens, head to the website and click ‘Buy now.’ Binance Coin (BNB) and bank cards are additional methods.
• Step 3 – Buy $WSM: After connecting the wallet, select the number of tokens you wish to buy, and complete the process by selecting ‘Convert’ – note that a small ETH gas (transaction) fee will also be charged.
• Step 4 – Claim $WSM Coins: After the presale concludes, investors can claim their tokens from the platform’s website. More information will be made available nearer the time.

How to Find the Best Penny Cryptos

Uncovering the cheapest penny cryptocurrencies currently on sale is easier said than done which is why we’ve summarized several key methods you can use to find penny cryptos today.

With so many penny cryptos out there it can be challenging, especially for beginners, to pick out the best options. So, let’s look at a few methods for finding the best penny cryptos in 2023 in a bit more detail.

Join Popular Online Discussion Forums including Reddit and Discord

Joining the most popular subreddits and Discord groups can be a great way to discover like-minded communities that are engaged in the crypto markets. 

r/CryptoCurrency for instance has 6.5M members with many focused on finding the next penny crypto with Bitcoin’s potential to explode. 

When it comes to Discord, Jacob’s Crypto Clan is a popular option with 14k members. This Discord group is constantly on the lookout for the top trending penny cryptos. It offers a wide range of options and educational tools. From learning how to trade signals, to understanding the basics of how penny cryptos are traded. 

There are also ongoing giveaways, as well as news from Twitter regarding all the latest crypto developments.  

The benefit of joining one of these social media platforms is that traders and crypto enthusiasts can engage with each other and find answers to common questions they may have. This is especially important given that penny cryptos are extremely volatile and speculative, so gauging crowd sentiment is a good indicator of potential success. 

Having said this, penny cryptos are vulnerable to market volatility so there’s no real guarantee that a given penny cryptocurrency will sustain a bullish trend even after it lists on a DEX or CEX.

Finding 10X Penny Cryptos on DEXTools

DEXTools helps traders pick out the best penny cryptos by offering useful price analysis, charts, and guides on navigating the DeFi networks in 2023. As the crypto market has grown, so has the demand for data that can help to analyze the ever-changing market. 

Many investors and crypto-hungry traders are moving away from CEXs and are on the search for the next best decentralized penny cryptos. DEXTools offers a wide range of fully fledged features that make it a useful tool to include when figuring out a competent investment plan. 

These include:

• Pair Explorer – this allows users to monitor penny cryptos in real time. Depending on the account you have some users have access to AI trading bots and limit orders to help mitigate risks and automate the trading process which results in emotionless trading which is especially useful when engaging in DCA (Dollar-Cost Averaging) strategies.
• P&L Tracking – keeping tabs on users’ trades across every listed penny crypto is virtually impossible, especially as the crypto market never sleeps. DEXTools provides a P&L tracking function that monitors users’ trading activities helping to develop and optimize their trading strategies in the long run. 
• Pool Explorer – DEXTools makes it easy to locate trending liquidity pools. With the Pool Explorer tool users can keep an eye on liquidity movements as well as new pools on decentralized exchanges. 
• Additionally, DEXTools incorporates Uniswap and several other crypto exchanges giving users the chance to stake and swap BEP-20 and ETH-20 coins via the dApp itself. 

Explore CoinMarketCap.com for Trending Penny Cryptos 

CoinMarketCap is a popular resource for crypto traders looking for the next penny crypto with 10x potential. From real-time crypto prices, to detailed charts, a useful learn section, a real-time social feed with up-to-date user opinions of each crypto, and much more, CoinMarketCap is quickly becoming a hub for spotting the top trending penny cryptos.

There’s even a Gainers and Losers tab which shows users which cryptos with a trading volume greater than $50k have dropped or jumped in the last 24 hours. At the time of writing we can see that Tezos (XTZ), another popular penny crypto, has risen in the last 24 hours by 4.77%. 

Keep Tabs on Crypto News Outlets

As we’ve mentioned before, finding the best penny cryptos relies on understanding the current market sentiment as well as other developments which could influence the price of cryptocurrencies. 

Political unrest and shifts in attitudes towards the threat of cryptos can often trigger price fluctuations as can social media hype with the likes of Elon Musk causing massive waves with tweets about his Shiba Inu pet. 

CoinDesk is a great example of a crypto news outlet that showcases the latest news surrounding the cryptocurrency market. For instance, CoinDesk today reported that BTC traders are moving defensively in anticipation of the US Federal Reserve’s hawkish pause on interest rates. 

Make the Most of Popular Crypto YouTube Channels

Subscribing to a reputable crypto YouTube channel is one proven method to finding penny cryptos with ROI potential. The top crypto YouTube channels can be a useful tool in an investor’s arsenal as they act as hubs for like-minded crypto enthusiasts to share ideas and discuss the hottest penny cryptos.

In the realm of cryptocurrency, Crypto YouTube channels serve as networking opportunities for knowledgeable traders and influencers, making them a real avenue to stay updated and gain early insights into emerging penny cryptos.

Are Penny Cryptos Safe?

Everyone loves finding a bargain, and cryptos under a penny certainly appear like bargains. With cryptos like Bitcoin and Ethereum costing $26.4k and $1.8k respectively, buying penny cryptos can be an enticing option to earn big profits in a relatively short timeframe. Nevertheless, penny cryptos generally have a reputation for being incredibly volatile.

Some recent examples of penny cryptos which have seen significant price swings include Pepe coin which in the last month alone has dropped by -49.34% and DOGE which in the last four weeks has fallen by -14.82%.

Earning huge profits from penny cryptos is possible, as seen in the Pepe coin example which returned a trader over $5,000,000% in profits. But typically it’s better to spread your investments in a range of financial assets as to mitigate the risks that come from extreme market volatility.

Risks Involved when Trading Penny Cryptocurrencies

Penny cryptos can offer significant short term profits, but likewise may also experience abrupt price drops, so it’s vital that investors are conscious of the inherent risks and to avoid all the scams that come along with crypto trading.

Penny cryptocurrencies are very popular due to their general ability to provide huge opportunities for short term profits when compared to other well-established coins. But, this means that they come with greater risks.

Firstly, most new penny cryptos have virtually no price history that can be used for technical analysis. The majority of penny cryptos witness acute price fluctuations before plummeting in price, meaning if traders don’t time the markets right, they could end up losing more money than they put in.

It’s crucial to remember that when investing in new penny cryptocurrencies that because they’re so sensitive to external factors such as social media, investor sentiment, the price of Bitcoin, the risk of losing money equates to the chance of making a profit.

Additionally, some penny cryptos fall victims to pump and dump schemes. This typically involves social media influencers who are paid to shape public opinion by persuading their followers to invest in a particular cryptocurrency as a way of boosting its value.

As soon as the value increases, the scammers will sell their crypto holdings and pocket the profits while the victims will witness a drop in the value of their investments. As such, it’s important that investors research and educate themselves as to how to spot pump and dump schemes in the first place.

Latest Penny Crypto News

Finally, let’s take a quick look at some important penny crypto news events for the week beginning September 18^th, 2023 – ensuring you’re up-to-date with the latest goings-on:

• The House Financial Services Committee in the US has proposed two bills to prevent a central bank digital currency (CBDC) from being issued. These bills would stop the Fed from testing CBDCs without Congressional approval.
• Hackers from the $41 million Stake casino heist have moved an additional $328,000 worth of crypto. These funds were bridged to the Bitcoin and Avalanche networks.
• Finally, Solana was under selling pressure last week after a Delaware court approved the sale of FTX’s SOL holdings. At the time of approval, FTX held over $1 billion worth of SOL.

Where to Buy Penny Cryptocurrencies – Best Crypto Exchange with Low Fees

If you are interested in buying penny cryptocurrencies on an exchange rather than on presale, eToro is the overall best place to complete your investment.

eToro – Best Place to Buy Penny Crypto in 2023

eToro is the overall best place to buy penny crypto in 2023 – as the platform offers a slew of benefits. The trading costs are low at eToro, not least because you will pay a mere 1% to buy and sell any cryptocurrency of your choosing. eToro offers access to 75+ cryptocurrencies, as well as numerous other assets.

If you feel comfortable with the idea of buying penny crypto and storing it in a wallet, there’s an app for that. The eToro Money wallet comes in the form of a crypto app and safeguards your investments with a range of security features. This includes standardizations protocols, DDoS Protection, sophisticated signature mechanisms, and more.

This broker serves more than 25 million traders and is regulated by multiple regulators, which include the SEC and the FCA, among others. The aforementioned crypto wallet is regulated by the GFSC. The main trading platform is really simple to use and navigate.

Furthermore, investors who don’t feel comfortable looking after a wallet and private keys can keep things simple by opting to buy penny cryptocurrencies on the main platform. In this case, when you’ve placed an order, eToro will add the tokens to your portfolio, which is accessible any time you log into your account.

It’s also super easy to cash out as the broker simply buys the tokens back. The minimum stake is $10 at eToro. If you later decide to invest in pricier assets, the same applies as the broker supports fractional trading. You can also access stocks and ETFs with 0% commission if you wish to diversify later.

You can take a hands-off approach to trade if you wish. eToro offers smart portfolios focused on cryptocurrencies. This means you are able to allocate funds to a carefully selected basket of tokens. There are 12 to choose from, and plenty more focused on other markets.

Copy trading is one of the most popular features at eToro and copy traders made an average 30.4% return on investment (ROI) last year. Choose a pro whose preferred market is cryptocurrencies and invest some of your funds in that person. Each time they buy or sell cryptocurrencies, it will be mirrored in your portfolio, in proportion to the amount you allocated.

Payment options are plentiful and include e-wallets like Skrill, PayPal, and Neteller. You can also finance your crypto investments using a credit/debit card, wire transfer, or traditional online banking. As a US client, there are no deposit fees to pay.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Conclusion

In this guide, we analyzed the best penny crypto to buy as well as blockchain-focused stocks as alternative ways to invest in the industry. In terms of how to buy penny cryptocurrencies, we recommend regulated platform eToro.

One of the best penny cryptos is Wall Street Memes ($WSM) – the presale meme coin launched by an already-established brand with over 1 million followers. So far, the presale has gotten off to a fiery start, raising over $22.5 million in ten weeks. Moreover, considering its vast social media presence, the coin has lots of room for growth during the next meme coin run.

Wall Street Memes (WSM) - Newest Meme Coin

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• Community of 1 Million Followers
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References:

• https://coinmarketcap.com/currencies/cardano/
• https://coinmarketcap.com/currencies/polygon/
• https://www.coindesk.com/markets/2023/05/05/pepecoins-bewildering-rise-turned-a-pittance-into-an-almost-5000000-meme-coin-profit/
• https://coinmarketcap.com/trending-cryptocurrencies/
• https://markets.businessinsider.com/news/currencies/wall-street-bull-nft-collection-gamification-wallstreetbets-crypto-2022-1#:~:text=Street%20Memes%20company.-,An%20NFT%20collection%20of%2010%2C000%20Wall%20Street%20bulls%20sold%20out,of%20risk%20to%20their%20NFTs.
• https://www.bloomberg.com/news/articles/2022-10-31/dogecoin-s-rally-reminds-crypto-bulls-of-simpler-times#xj4y7vzkg
• https://consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams
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• https://www.cnbctv18.com/cryptocurrency/tamadoge-meme-coin-raised-15-million-in-presale-pegged-to-rally-10x-in-future-14712101.htm#:~:text=The%20token%20has%20already%20shown,once%20the%20presale%20is%20complete.
• https://coinmarketcap.com/community/articles/647d8bb85a352a3f3fde828c/
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• https://coinmarketcap.com/currencies/terra-luna/#About
• https://coinmarketcap.com/currencies/xrp/#About
• r/cryptocurrency subreddit
• https://www.dextools.io/app/en/bnb/pairs
• https://www.dextools.io/app/en/bnb/pair-explorer/0x4b729d5d871057f3a9c424792729217cde72410d
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• https://coinmarketcap.com/currencies/tezos/
• https://www.coindesk.com/markets/2023/06/14/fed-preview-bitcoin-market-skewed-bearish-as-analysts-anticipate-hawkish-rate-hike-pause/

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