Along with the highly-priced cryptocurrencies the market is filled with thousands of crypto tokens that are valued at less than $5, or even just a few cents. These cryptocurrencies are known as penny cryptos and are preferred by many types of investor. First and foremost, they are quite affordable. You can buy a large holding of penny cryptos by investing as little as $100 and potentially generate high returns once their value increases.
But before that, you need to explore the market and find out the most promising penny cryptocurrencies that have huge potential for growth. It is crucial to have a clue about what you are investing in and whether it is worth buying not to end up losing your capital in the long run. To help you in the research stage we have reviewed the best penny cryptocurrencies to buy this year and provided detailed reviews on each.
Read on to find out which penny cryptocurrency or cryptocurrencies attract you best. You will also discover the best platforms to invest in penny cryptocurrencies and a complete guide explaining how to buy cryptocurrency for pennies online step by step.
Best Penny Cryptos to Buy in 2022
If you do not want to go too much into details and seek the quick list of the best penny cryptocurrencies below we have provided a short list of the top penny cryptocurrencies to buy right now. You have a versatile selection as the list includes various projects from meme cryptocurrencies to blockchain gaming platforms and DeFi problem-solving technologies.
- Tamadoge (TAMA) – New Meme Penny Cryptocurrency with Play-to-Earn Features
- Lucky Block (LBLOCK) – Penny Crypto Powering an NFT Competitions Platform
- Battle Infinity (IBAT) – Best Blockchain Game Penny Cryptocurrency to Buy
- DeFi Coin – Best Penny Cryptocurrency that Backs Decentralized Exchange
- Fetch.ai – Excellent Penny Cryptocurrency with Focus on Real-Life Issues
- Graph Coin (GRT) – Invest in Penny Cryptocurrency that Struggles to Improve Data Retrieval
- 1Inch Coin – Promising Penny Crypto that Improves User-experience with DEX Platforms
- AMP Coin – Buy Penny Cryptocurrency that Aims to Speed up the Transaction Confirmation
Top Penny Cryptos to Buy Reviewed – Full List
If you are a newbie in the cryptocurrency market, you may be confused about discovering thousands of digital assets that you can invest in. However, most of these cryptocurrencies are speculative meaning they involve high risks, can be quite speculative, and can crash quickly after trending for a particular period.
Hence, you need to carefully explore the cryptocurrencies you are going to purchase to make sure they have the potential for future growth and can bring you high rewards. In this section, we have reviewed the most popular penny cryptocurrencies that have excellent potential to increase value in the near future. Read on to find out which one attracts you most and best suits your expectations.
1. Tamadoge – New Meme Penny Cryptocurrency with Play-to-Earn Features
One of the best meme cryptocurrencies to buy under a penny is Tamadoge. It not only introduces a meme token but provides an attractive metaverse platform where users can generate rewards through its play-to-earn features. In the Tamaverse ecosystem, players can buy Tamadoge pets, breed them, take care of them and participate in competitions against other Tama pets.
When players win in the competitions, they collect points and get their names on the monthly leaderboard. Winners are rewarded with the TAMA token so the more points they get the more TAMA coins they will be rewarded. All the Tamadoge pets are designed as NFTs and the project also supports the Tama Store features where users can buy and sell pets. Apart from the pets, they can also buy several items for their pets, upgrade them and get higher chances to win in the competitions.
TAMA is the native utility token of the Tamaverse which is a SolidProof audited and Coin Sniper verified cryptocurrency. It is an ERC-20 token that can be used for different activities. TAMA is used for transactions within the ecosystem, so the users can buy their NFTs, pets, and in-game items through TAMA tokens. Additionally, they can stake their TAMA tokens and generate passive income.
One of the best things about the TAMA token is that the Tamadoge platform does not charge any fees for the transactions conducted in TAMA tokens. Plus, it is a deflationary coin and 5% of the coins are burnt after each transaction. Tamadoge will issue a 2 billion maximum supply of TAMA tokens but the coin has not been officially launched yet.
TAMA is currently in the presale process which may sell out by October 2022 as $10 million has been raised so far out of its $19 million hard cap. The Tamadoge team plans to sell 50% of the tokens during the presale stage. 30% of the coins will be used for further minting within the 10 years, and the 20% left will be used for exchange listings (including Uniswap and LBank initially). See our full guide to buying Tamadoge.
2. Lucky Block – Penny Crypto Powering an NFT Competitions Platform
Lucky Block is a less than nine month old penny cryptocurrency project, founded in January 2022. Lucky Block has managed to increase the value of its native token, LBLOCK several times compared to its presale price. Today you can invest in the LBLOCK V1 token at as low as $0.0004.
Lucky Block V1 currently has a market cap of $30 million. Almost half of the LBLOCK tokens V1 are already circulating and are available to purchase on PancakeSwap.
The decentralized exchange Uniswap supports Lucky Block’s V2 token which is the same as LBLOCK but more suitable for trading as it has no transaction tax – as well as Uniswap it has also been listed on LBank, MEXC and Gate.io. Read our full guide to buying LBLOCK V2 which is also a penny crypto price at $0.002.
What makes the Lucky Block a unique penny cryptocurrency project is its completely new approach to the competition games. It is a competition platform based on the Binance Smart Chain that facilitates decentralized prize draws. The technology that Lucky Block uses enables it to provide daily draws and other competitions with low operating costs.
Additionally, Lucky is built on blockchain which makes the transactions transparent. Another selling point of Lucky Block is that anyone can participate in the games and competitions irrespective of where they live. So, Lucky Block develops the idea of competition platforms by creating one without geographical boundaries, with frequent draws, higher prizes, transparency in drawings, and low costs.
3. Battle Infinity – Best Blockchain Game Penny Cryptocurrency to Buy
Another exciting cryptocurrency project under a penny to consider purchasing is Battle Infinity. It is a gaming platform that combines multiverse, blockchain, and play-to-earn elements to build a distinctive user experience. Players can not only enjoy the various products of the project but also play to generate income.
The Battle Infinity platform stands out with the versatility of its products. It combines six different elements so that users can enjoy playing and earning in multiple ways. The Premier League is perhaps the most exciting platform of the project which is the first fantasy sports game that integrates metaverse, NFT market, and blockchain technology. It enables players to build their teams by joining other members on the platform. Teams can take part in the competitions and battle against each other to win rewards.
There are several other platforms along with the Premier League that perfectly replenish each other. The Battle Arena is where users can upgrade their avatars and purchase new items for them. All these in-game items are represented as NFTs and can be sold and bought on the Battle Market. The Battle Store provides a platform with multiple NFT-based games and the Battle Stake enables users to stake their IBAT tokens and generate rewards. And finally, the sixth platform is the Battle Swap – a decentralized exchange where players can swap various crypto tokens.
IBAT is the native token of the platform which is a BEP-20 token and can be staked through the game’s Battle Stake platform. It has other use cases too, including distributing rewards, facilitating transactions, etc. The safety of the token is audited and verified by SolidPortfolios.
The team is currently set to launch its staking product and recently completed the project’s first CEX listing on LBank exchange, after a successful IDO on PancakeSwap. See our full guide to Battle Infinity.
4. DeFi Coin – Best Penny Cryptocurrency that Backs Decentralized Exchange
Another excellent cryptocurrency to buy under a penny is the DeFi Coin (DEFC) which was launched in 2019. The coin is getting more and more popular as the number of exchanges listing DEFC is growing too. It is a cryptocurrency designed to contribute to the DeFi Swap ecosystem. The coin serves the DeFi Swap decentralized exchange which supports swapping, staking, and yield farming services.
DeFi Coin is more suitable as a long-term investment due to some peculiarities that it has. First of all, you can generate high rewards by staking the coin and getting up to 75% APY. Due to its taxation mechanism, the DeFi coin charges 10% for each transaction conducted in DEFC which is later distributed among the holders. It means that you will be rewarded with new tokens for simply holding DEFC coins. The more DEFC coins you have the higher your rewards will be.
The next thing that makes DEFC an exceptional cryptocurrency is that it is a deflationary coin which means that burning events will be conducted at times to reduce the number of circulating DEFC tokens. In this case, the demand for the coin will increase as long as its supply will decrease over time. Eventually, the popularity of the DeFi Swap exchange is directly connected with the coin’s success. According to its website, DeFi Swap exchange plans to add a lot of new features to its platform.
Both the exchange platform and the coin are new in the market and have huge potential for growth. The project is built on the Binance Smart Chain which enables them to benefit from the low gas fees and fast transactions. See our guide on how to buy DeFi Coin.
Fetch.ai – Excellent Penny Cryptocurrency with Focus on Real-Life Issues
Fetch.ai is one of the best penny cryptocurrencies to buy as it brings AI and machine learning innovative solutions into the digital economy. Founded by three software developers in 2017, Fetch.ai aims to contribute to the growth of the decentralized digital economy by incorporating AI agents. The team includes Humayan Sheikh, Thomas Hein, and Toby Simpson who managed to attract several investors and raise $26 million from them. In 2019 the team also launched its FET token and raised $6 million through the Initial Coin Offering.
Fetch.ai introduces exciting features into the digital economy and tries to solve a lot of real-world problems through its innovative agents and machine learning solutions. One of the fields that the project touches on is traveling. Agents create direct communication between the consumers and providers thus reducing the role of the intermediary between them. In its turn, this system reduces the extra costs charged for the services by third parties.
Other important problems that Fetch.ai agents solve are the ones related to traffic and parking. Fetch.ai agents work to make mobility and transportation efficient. For instance, when you enter a city, the agent can get in touch with other agents and find out the nearest parking locations next to your destination. Moreover, it can book the parking area for you before you arrive at that place. Fetch.ai innovative solutions are also applied to such arrears as digitized trading, parties working together, such as doctors and patients, etc.
To manage its ecosystem, Fetch.ai has a native utility token that benefits the network in multiple ways. People can use it for managing autonomous economic agents, and stake to generate rewards and conduct transactions. Fetch.ai has a maximum supply of 1,152,997,575 FET coins. 60% of the FET coins are already circulating with a value of $0.09 per coin.
Your capital is at risk.
The Graph – Invest in Penny Cryptocurrency that Struggles to Improve Data Retrieval
The Graph (GRT) is another fascinating cryptocurrency project that you can invest in if you are looking for a penny cryptocurrency. It is a DeFi project founded in 2018 by Yaniv Tal, Jannis Pohlmann, and Brandon Ramirez. Originally launched on the Ethereum blockchain, Graph Coin has a goal referring to upgrading the blockchain technology. Its main goal is to contribute to the information retrieval of the blockchains which significantly influences the efficiency of the decentralized apps built on that blockchain.
The Graph Coin project issues a native utility token to power its ecosystem and manage the network. As the technology works through processing and storing the data from various blockchains with an aim of further retrieval, it goes through multiple processes. All the processes are managed by different network participants who are called indexers, curators, and delegators. Anyone who wants to become an indexer, a curator or a delegator must first of all stake GRT tokens. All the stakers are rewarded from the network fees for the job they have done.
The Graph Coin project is quite popular within the DeFi industry. It is used by such popular DeFi projects as Aave, Curve, and Uniswap. Its native coin was officially released in October 2020 and managed to raise $10 million in the capital during the ICO stage. Before the public sale, GRT also raised $19.5 million in capital from the private sale. GRT is currently included among the 100 largest crypto assets by its market capitalization. The cryptocurrency is traded at $0.1253 but has a circulating supply of 6.9 billion tokens which raises capital of $866 million.
Your capital is at risk.
1Inch – Promising Penny Crypto that Improves User-experience with DEX Platforms
1Inch Protocol is another popular cryptocurrency and another coin to buy under a penny. It is designed to improve the decentralized exchange industry and contribute to the way people execute a trade through DEXs. The decentralized exchange industry is growing rapidly with more and more projects springing up in the market.
The difference between DEXs and CEXs is that DEXs allow users to trade without providing too much personal data and without going through the verification stages. It also makes the process quite faster – you do not need to register for an account providing the necessary details about your identity, payment method, etc. What you are required to do is to link your digital wallet to the platform and start trading. Centralized exchanges require you to verify your account so that they can keep your account safe. However, DEXs work through blockchain which makes them quite secure without any need for verification.
But the problem with these exchanges is that cryptocurrencies are traded at different prices on different exchanges. Additionally, transaction fees also vary greatly from platform to platform which makes it hard to identify which platform offers the best trading experience. The 1Inch protocol is designed to solve this issue by monitoring the whole market and pointing out the best prices and transaction fees for the users.
The protocol was founded in 2019 by Surjey Kunz and Anton Bukov who have experience as engineers and developers in different startups. In December 2020 they managed to raise $12 million in capital from two funding companies. The group officially launched the project’s native token, 1INCH in late December during which it also airdropped 1INCH tokens to those wallets who have interacted with the 1Inch platform. The circulating supply of the 1INCH cryptocurrency is 571.6 million 1INCH tokens and it is the 86th largest crypto by market cap.
Your capital is at risk.
AMP Coin – Buy Penny Cryptocurrency that Aims to Speed up the Transaction Confirmation
Amp is an Ethereum-blockchain-based project that was released in 2020. It is a digital collateral token that aims to make faster and more secure transactions possible. To understand how important the role of such projects is in the DeFi industry, you need to be familiar with one of the biggest problems of blockchain.
The dilemma of the transaction confirmation suggests that you need to sacrifice either security or scalability on the decentralized ledger. When the amount of the transactions increase more time is needed to verify transactions which is not always practical, especially for daily life. For faster transactions, users must pay high gas fees to have their transactions verified sooner. Amp is designed to make instant secure and irreversible transactions possible.
Amp is also open-source and decentralized. It has a native token – the AMP coin which can be sent received and staked to earn rewards. The maximum supply of the Amp cryptocurrency is over 92 billion AMP tokens 45% of which are already circulating. It has a daily trading volume of $4.5 million and quite high rates on market capitalization tables. At the time of writing it is the 104th largest cryptocurrency with a market cap of $350.7 million.
Your capital is at risk.
What are Penny Cryptos?
Penny cryptocurrencies are quite popular among investors who do not have too much money to spend on trading. They prefer penny cryptos as they have low value and can bring high returns once their trade is successful. There is not a single consensus about the definition of such cryptocurrencies. Usually, penny cryptocurrencies are called crypto assets that cost less than $1. However, according to another definition, cryptos worth less than $5 can also be considered penny cryptos.
What makes penny cryptocurrencies so attractive is their low prices which can bring you plenty of rewards even with a little fluctuation. But meanwhile, penny cryptocurrencies can be quite risky especially when you invest in speculative crypto assets. It means that before investing in such cryptocurrencies, you need to carefully examine to make sure if the crypto has room for growth.
Reasons to Invest in Penny Cryptocurrencies
There are multiple reasons why investors and traders prefer penny cryptocurrencies. Here are some of the most popular ones.
They are Affordable
The eye-striking advantage of investing in penny cryptocurrencies is that they are quite cheap. If you do not have too much money but you want to challenge yourself in trading, penny cryptocurrencies give you this opportunity. By selecting a cryptocurrency broker that does not require too much deposit or trading fees, you can buy a huge amount of crypto for as low as $100.
You Have Huge Potential Returns
Besides being very affordable, penny cryptocurrencies also can bring you high returns once they get successful. It is because they are quite cheap and their price fluctuations can be extremely high. Obviously, it is more difficult for a significantly valuable crypto asset, such as Bitcoin, to double its value than for a cryptocurrency worth $0.002.
Easy to Get Started
Investing in penny cryptocurrencies can be an excellent way to start your trading career as you can begin with as lows as $20-$50. For instance, to buy a cryptocurrency on one of the leading crypto brokers, eToro, you need a maximum deposit of $10. Additionally, the minimum amount required by eToro to buy crypto is $10. Hence, you can buy the most popular ERC-20 tokens for as low as $20.
A Great Way to Diversify Your Portfolio
And most importantly, you have an excellent opportunity to build a versatile portfolio. The fact that penny cryptocurrencies are cheap enables you to buy different assets with little money. In this case, you can also manage the risks of losing your capital by investing in different cryptos. So, if any of your investments fail, you secure yourself with investments in other assets that can gather value and bring you income.
Where to Buy and Trade Penny Cryptocurrencies?
If you plan to buy penny cryptocurrencies, you will definitely need a cryptocurrency broker with which you can open an account and buy crypto assets. But once you start looking for a good crypto broker to start trading, you will find hundreds of options and it may become a daunting process for you to decide which one is the best. If you are a beginner in the field, we would recommend you to start with eToro which is a leading brokerage platform that stands out with multiple excellent features.
Along with a number of other assets, eToro supports trading, buying, and selling cryptocurrencies on its platform. It offers quite a versatile selection of cryptocurrencies and you can trade over 80 digital assets with eToro. The list includes the most trending and popular cryptocurrencies, such as Bitcoin, Ethereum, Cardano, Aave, Dogecoin, and a number of penny cryptocurrencies from our recommendation list, such as Fetch.ai, AMP token, Graph coin, etc. Moreover, eToro adds new cryptocurrencies to its list frequently, and you also have the chance to diversify your portfolio with new coins and tokens.
Perhaps, the most significant feature of eToro that appeals to beginners is its super competitive pricing structure. As for trading fees, you only have to spend a 1% trading fee to buy or sell any altcoin which is added to its market fee. There are not any other hidden fees included, nor does it charge rollover, ticket, or management fees for your account. eToro is also pretty efficient when it comes to non-trading fees. The broker only charges a 5$ withdrawal fee for any payment method you choose.
By signing up for an account on eToro, you will discover a combination of top-notch features for beginners. It has a very friendly user interface and an exceptional social trading platform through which you can communicate with other traders, discuss trending topics, investment opportunities, etc. Moreover, eToro allows you to copy the trades and portfolios of expert traders through its social trading tools.
eToro also has separate pages dedicated to each cryptocurrency you search. Once you search the coin, you can navigate between multiple sections to learn news and read analyses about that crypto. If you like mobile trading, the broker also provides a mobile app that is available to install on iOS and Android operating systems.
The broker is also popular with its high reputation. It has millions of users from over 100 countries of the world which makes it one of the most widely-used brokers in the industry. One of the reasons why so many people choose eToro is its highly secure trading platform. The broker is extensively regulated and licensed by such top-tier companies as FCA, CySEC, ASIC, SEC, and FINRA. The broker also applies quite efficient security systems to protect your account and prevent any fraud that can threaten your safety.
See our full eToro review.
How to Buy Penny Cryptocurrencies Step by Step with eToro
Now when you are familiar with the best penny cryptocurrencies to buy in 2022 and the best cryptocurrency broker to trade with you may be curious about how to start investing in penny cryptos. To walk you through the whole process we have prepared a complete guide that explains everything in detail with eToro.
Sign up for an Online Account with eToro
If you do not have a brokerage account your first step must be to open one. Visit eToro.com and open a free account. eToro requires that you fill in some details about your identity, including name, surname, date of birth, etc. Also, you will need to provide your email and phone number to go through the first verification stages.
Verify Your Account and Deposit Funds
Once you have registered your account, you will need to verify it as long as eToro is a regulated broker and does not allow you to start trading without verification. However, the verification is quite easy and you will go through fast if you provide the right documentation. As eToro requires an address and identity verification, you must provide a proof of identity, such as a passport or an ID, and proof of address, such as a bank document or a utility bill.
When your account is fully verified and you are allowed to trade, you can finally deposit money on it. To buy cryptocurrencies, eToro requires a very low minimum ($10) and you can buy it by investing as low as $10. eToro supports multiple payment methods, hence you can deposit funds through bank cards, wire transfers, or an e-wallet.
Search Penny Cryptocurrency You Want to Buy
Once you have a verified and funded account, you can start investing in penny cryptos. But first of all, you need to select what crypto you want to buy. Search the name of the coin in the search toolbar and click on the first results. eToro will lead you to the crypto’s separate page where you can explore it, read the news about it, and use its graphs and charts that can make you make a final decision.
Buy Penny Cryptocurrency
Once you have decided to buy the crypto, click on the Trade button which you will find on the above-left part of the website. On the buy window, fill in the details about your trade, including the number of coins you want to buy. Make sure you have filled everything correctly and finalize the transaction to get the coins on your exchange wallet.
Where to Trade Penny Crypto Coins?
Penny cryptocurrencies can also motivate you to short-trading as long as their price fluctuations can bring high returns in the short term. But to have an efficient trading experience, you should find a good brokerage platform that will cooperate fast and offer low transaction fees and spreads. Below we have introduced a list of the best cryptocurrency brokers that we have selected examining the market.
Penny cryptocurrencies are an excellent choice to invest in especially when you are a beginner in trading and want to start with a little money. In this guide, we have introduced the best penny cryptocurrencies to buy in 2022 and described their projects in detail. Our most recommended penny cryptocurrency to buy in 2022 is Lucky Block which is expected to raise and can generate high returns.
To buy penny cryptocurrencies, you will need to open a brokerage account on a cryptocurrency exchange and verify it. For beginners, we recommend trading with eToro which is an excellent platform with a super easy user interface and low trading fees. Additionally, eToro supports most of the penny cryptocurrencies included in our top list.
Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- NFT-Based Metaverse Game
- Presale Live Now – tamadoge.io
Battle Infinity – New Metaverse Game
- Presale Sold Out Early – Now on PancakeSwap and LBank
- First Fantasy Sports NFT Game
- Play to Earn Utility – IBAT Token
- Powered By Unreal Engine
- CoinSniper Verified, Solid Proof Audited
- Roadmap & Whitepaper at battleinfinity.io
What is the best penny crypto to buy as of 2022?
As the DeFi market is filled with versatile cryptocurrency projects, you can consider investing in cryptocurrencies aiming to bring changes in different fields. Our top penny cryptocurrency list includes Lucky Block which is a decentralized competing platform with a goal to upgrade the way users play drawing games. Battle Infinity is a metaverse platform with play-to-earn elements and it can attract a lot of players due to its versatility. 1Inch and DeFi Coin are focused on the decentralized exchange field while the Amp project and Graph coin aim to improve blockchain technology and its scalability. Tamadoge is another fascinating and quite attractive metaverse game with P2E features. And eventually, Fetch.ai aims to solve several daily-life problems by integrating AI and blockchain.
Are penny cryptos a good investment?
There are many benefits to investing in penny cryptocurrencies. First and foremost, they are quite affordable and you can purchase penny cryptos in high quantities spending a little money. Secondly, they have huge potential to grow which especially refers to the projects that have just been launched but have attracted several investors and DeFi enthusiasts.
Which penny crypto is expected to explode in 2022?
To find out which penny cryptocurrency has the best potential to increase in value in 2022, we have done detailed research. According to our experts, Lucky Block is the best penny crypto with a huge potential to grow. Battle Infinity is another excellent project that has great potential to grow.
What should I do before I invest in a penny crypto?
Before you invest in a penny cryptocurrency, you must spend some time analyzing it. Obviously, it is not efficient to invest in random cryptocurrencies, hence you must first understand how that crypto works and what goals it has regarding the market. You can explore its website, do a market analysis, get familiar with the opinions or reviews of expert traders, or find information on educational platforms.