Cryptocurrencies are gaining popularity at a rapid pace. Investing in today’s world means finding an investment that expands its equities and enlarges its revenue stream. Besides, top investors diversify their portfolios.
Therefore, most people looking to buy Cryptocurrency are looking for an option that can provide a high rate of return in a short period of time. Considering cryptocurrency prices have exploded this year, they are all the rage these days, and everyone is looking into them. This article examines the top 5 best penny cryptocurrencies to invest in 2022 as most people are looking for affordable investment options.
The price of penny cryptos is similar to that of penny stocks, with prices as low as $5 per unit. While they are high-risk investment options due to their small market caps, they’re arguably the cheapest, and Additionally, they have the potential for value appreciation.
Best penny cryptocurrency to invest in for 2022
- Lucky Block (LBN)
- Stellar (XLM)
- Dogecoin (DOGE)
- Ripple (XRP)
- Ravencoin (RVN)
A cryptocurrency is an unregulated investment product that is highly volatile. EU or UK investors are not protected. Your money is at risk. In 2022, here are some of the best penny cryptos to invest in that can yield better returns;
Lucky Block (LBN)
Gambling online is on the rise, and the global Coronavirus pandemic just added to its popularity among many users. The Lucky Block cryptocurrency is following suit because it’s a lottery service powered by blockchain technology for transparent, faster payout transactions.
Smart contracts are used to ensure fair calculations, random number generation, fund distribution, and reward distribution. In addition, the players have better odds of winning and aren’t geographically restricted.
The current price of Lucky Block is about $72.5, and the crypto is just in its presale phase, and Cryptocurrency is therefore within reach for most investors. Due to the growing popularity of gambling, Lucky Block promises to solve several problems with the current lottery system. For example, it prevents data loss, data manipulation, unbiased grant systems, and almost instant payouts of prizes.
You can also join the Lucky Block, telegram group for more information.
As a result, most lottery players will be looking to buy the coin, increasing its value. There is a risk to your capital.
Stellar (XLM)
Stellar was developed primarily as a low-cost method of transferring money between accounts. Interesting enough, that objective seems to be met as several platforms continue to adopt the project.
Stellar was launched in 2014 and is now widely used across the globe. Although a lot isn’t clear to the end-user, most businesses and payment systems use Stellar’s coin for cheap and fast international transfers.
Blockchain technology is what differentiates Teller from other fintech platforms. Cryptocurrency’s all-time high is about $0.83, but it is currently trading at around $0.27.
Stellar has established several high-profile partnerships with Franklin Templeton, IBM, and Grayscale. Moreover, it charges low fees, and changing currencies takes only about $0.00006 per transaction.
Due to its proof of stake algorithm, low latency, and scalability, it is also energy-saving. Therefore, it’s easy to say that going forward, Stellar looks to gather momentum for a surge in price, hence a good investment option.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk
Dogecoin (DOGE)
The king of meme coins, Dogecoin, began as a joke but has turned several investors into millionaires. It uses the same proof of work algorithm as Bitcoin. This reduces the confirmation time for each block to about a minute. It’s also used as a payment token on several platforms, and it’s a popular tipping coin.
With its ever-growing community and companies like Tesla accepting it as a payment token, it is primed for greatness. Unlike most cryptocurrencies, DOGE hit an all-time high of $0.72 this year, but the price has since fallen to about $0.17.
Leading companies and personalities gave the coin a boost in 2021, which is likely to continue in 2022, giving it the best chance of increasing in value.
Cryptoassets are highly volatile unregulated investment products. Investor protection is not available in the UK or the EU. This puts your capital at risk.
Ripple (XRP)
Ripple is unquestionably one of the best cryptocurrencies on the market; it has been around since 2012 and has won the hearts of many. Several banks use the platform to process global transactions as a payment system and protocol.
Transactions are fast (take about 3-5 seconds), which solves an initial Bitcoin problem. Furthermore, XRP requires a minimum amount of energy. Additionally, the company offers cross-border payment technology to major financial institutions and banks. People in the UK were once more interested in buying Ripple than buying bitcoin in the UK.
The price of Ripple might have soared beyond $3 in the past, but it has dropped to just $0.84 today. Ripple is a viable investment option for the future because it resolves concerns about slow, inefficient, and costly transactions across the globe.
As a result, Ripple has been widely used in several applications and storefronts, and it is expected to continue to do so in the future. Therefore, it’s one of the best penny cryptos for the future.
Cryptoassets are highly volatile unregulated investment products. No UK or EU investor protection. Your capital is at risk
Ravencoin (RVN)
Ravencoin is a new penny coin that has gained popularity over the last few months. The coin was designed to be mintable and to be used as digital certificates of ownership or securities – think of it like NFTs that serve similar purposes.
Ravencoin, however, offers much less functionality, as well as operating its very own blockchain. With many applications in the financial sector and not the arts world, the focus is more on financial aspects. Its popularity and adoption are growing as miners find it to be the best crypto to mine.
Ravencoin is currently worth about $0.104 and as more and more people start using it, mining will become even more profitable, thereby increasing its value. All of these factors provide a solid foundation for Ravencoin, and many believe that crypto has a bright future. Therefore, investing in this coin could be one of those you’ll end up smiling at when gains start to knock on your door in the future.
Cryptoassets are highly volatile unregulated investment products. EU and UK investors are not protected. There is a risk to your capital.
Conclusion
Investing in penny cryptocurrencies is usually high-risk, no doubt about that. The payoff comes when things turn around in the future. Therefore, all you need to do is decide and enjoy your penny cryptocurrency investment.
Cryptoassets are highly volatile unregulated investment products. Investors in the UK and EU are not protected. There is a risk to your capital. Furthermore, 68% of retail investor accounts with this provider lose money when trading CFDs. Think about whether you can afford to take the high risk of losing your money.