Penny cryptocurrencies offer substantial upside potential due to their low price and, usually, their nascent state of development. However, with thousands of cryptos under 1 cent in the market, choosing the ones that are capable of mounting robust long-term success can be very difficult.
That’s why we decided to do the work for you and put together a list of the best cryptos under 1 cent. While no one can predict for certain what the future holds, these top penny cryptocurrency projects leverage the power of blockchain technology, unique use cases, and robust communities, which gives them a leg up compared to numerous other cryptos.
Top 11 best penny cryptos you should consider investing in:
Shiba Inu – All-encompassing crypto ecosystem with meme beginnings
BitTorrent – Decentralized file sharing powered by BTT
eCash – Blockchain payments on a “mankind scale”
Terra Classic – New burn tax and robust community could revitalize the fallen ecosystem
Baby Doge Coin – Taking on Dogecoin with transaction and tokenomics improvements
Holo – Avoiding centralized Internet authorities with Holochain apps
DigiByte – DeFi ecosystem with a long and successful track record
Amp – Collateralizing digital payments with AMP
Smooth Love Potion – In-game asset of Axie Infinity, one of the biggest blockchain games
Floki Inu – Innovative crypto incentives and features powered by FLOKI
Metahero – Futuristic 3D scanning for the metaverse
11 Best Penny Crypto Projects: Examining crypto coins under 1 cent that are the best buys right now
The following selection includes some of the most promising penny cryptos to buy as we approach the end of 2022. They range from DeFi and NFT to gaming and meme coin projects, so there is a very high chance you’ll find the right project for you.
1. Shiba Inu – All-encompassing crypto ecosystem with meme beginnings
Started out in 2020 as an experiment in decentralized community building, Shiba Inu (SHIB) has evolved from being one of the numerous meme coins to being one of the most active and robust crypto ecosystems in the industry.
A strong community, a dedicated DEX, NFT and metaverse features, as well as the soon-to-be-launched Shibarium layer 2 solution, are the main reasons why SHIB is arguably the best crypto under 1 cent in 2022. With its current price of roughly $0.00001, an investment in Shiba Inu could generate a massive windfall if the coin ever reaches 1 cent, or the $1 milestone.
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2. BitTorrent – Decentralized file sharing powered by BTT
If you follow computer and technology news at all, you’ve probably heard of BitTorrent, the world’s most popular peer-to-peer (P2P) file-sharing protocol. After TRON founder Justin Sun acquired the company in 2018, the company underwent a massive pivot and started focusing on blockchain technology.
Now, a couple of years later, millions of BitTorrent user nodes are supporting the BitTorrent File System (BTFS), a platform that facilitates a P2P mechanism for storing and sharing digital content in a decentralized filing system. BitTorrent Token (BTT) integration with the BFTS is in the pipeline, which could significantly boost the price of BTT going forward.
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3. eCash – Blockchain payments on a “mankind scale”
Previously known as Bitcoin Cash ABC, eCash (XEC) was built following the monetary principles outlined by legendary American economist and Nobel prize winner Milton Friedman. eCash focuses on being sound money for the digital age. It does so by streamlining payments and providing its users with a higher degree of financial freedom.
The eCash team is focused on a lofty goal – building a blockchain network on the so-called “Mankind Scale”, which would be able to process over 5,000,000 transactions per second (TPS). If the team comes anywhere close to that adoption goal, XEC, the native token of the eCash platform, could easily earn the title of the most promising crypto under a penny.
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4. Terra Classic – New burn tax and robust community could revitalize the fallen ecosystem
We know, we know. Featuring one of the greatest ecosystem collapses in the history of crypto on such a list – what were we thinking? Well, the truth is that Terra Classic (LUNC) is not finished, and its nearly 100% price collapse in 2022 puts the price of the token well below 1 cent.
So what are the reasons that make LUNC a good crypto under 1 cent buy? Well, the active community could be the ace up Luna Classic's sleeve, as LUNC holders are very active in promoting the coin on social media platforms, which has proven to be an important catalyst for crypto projects in the past. Another reason for the Luna Classic recovery is a new burn tax that aims to reduce the supply of LUNC, while simultaneously increasing its price.
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5. Baby Doge Coin – Taking on Dogecoin with transaction and tokenomics improvements
Baby Doge Coin (BABYDOGE) is a Dogecoin-inspired cryptocurrency that seeks to improve upon the original meme coin with greater transaction speeds, hyper deflationary tokenomics, integrated staking system, and, well, adorableness. A major bonus of Baby Doge Coin is its incentive mechanism, which automatically redistributes 5% of each transaction to BABYDOGE holders.
During the 2022 bear market, BABYDOGE outperformed more than 80% of the top 100 largest market-cap digital assets, including Bitcoin and Ethereum. If its performance during the ongoing crypto winter is any indication, the meme coin could see a major price boost once the market trend reverses. Oh, and another thing, BABYDOGE is the cheapest cryptocurrency under 1 cent. All these reasons make it one of the likelist next big meme coins to explode candidates.
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6. Holo – Avoiding centralized Internet authorities with Holochain apps
With all aspects of our lives moving online at an increasing pace, we rely more and more on centralized entities like Google, Amazon, and Microsoft for both computational power and cloud storage. Holo (HOT) is the native token of the Holochain platform, which aims to disrupt the established paradigm.
At its core, Holochain is an open-source P2P framework that allows users to take advantage of hApps (Holochain apps) that connect their devices among them, without having to rely on centralized servers. Applications run on users’ devices, putting them in charge of their identities and data. Users who host hApps are rewarded with HOT, which creates clear and natural adoption mechanics that could help the token grow in price drastically as the network expands.
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7. DigiByte – DeFi ecosystem with a long and successful track record
DigiByte (DGB) has one of the longest track records out of the projects we are featuring on this list. Created in 2013, DigiByte is a community-driven project that places emphasis on secure payments and communications. The DGB token acts as a medium of exchange between dApps and smart contracts on the DigiByte platform.
The DigiByte blockchain platform is split into three layers. The top layer, which acts as an app store of sorts, and allows for the development and hosting of decentralized applications (dApps). The middle layer ensures security, administration, and stores the public ledger. Finally, the bottom layer facilitates communication and operating processes. DGB could turn out to be one of cryptos under a penny that will explode, as long as the DigiByte network continues expanding.
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8. Amp – Collateralizing digital payments with AMP
Amp is one of the most unique projects on our list. Not necessarily in terms of features or blockchain-focused solutions, but instead due to it addressing the gap between crypto and fiat payments. Sparring technical details, Amp collateralizes crypto payments and ensures that the Amp (AMP) collateral is liquidated if a transaction fails. This way, the end user receives payment in fiat, which gives both the sender and the recipient a piece of mind.
AMP is an ERC-20 token on the Ethereum blockchain that collateralizes payments on the Flexa payments network by leveraging smart contracts. Amp has been endorsed by numerous major crypto companies over the years, including Coinbase, Consensys, Balancer, Uniswap, and Crypto.com, to name a few. AMP being the best penny cryptocurrency to invest in 2023 hinges primarily upon the adoption of the Flexa network by both crypto and fiat users.
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9. Smooth Love Potion – In-game asset of Axie Infinity, one of the biggest blockchain games
After an explosive 2021, Smooth Love Potion (SLP) – along with other native digital assets of the Axie Infinity gaming platform – suffered great losses. At press time, SLP, the in-game asset of the popular blockchain gaming metaverse, is trading more than 95% removed from its all-time high last May.
The blockchain gaming sector has been one of the hardest-hit areas of crypto during the downturn, and despite its recent struggles, SPL could see a major uptrend once the bears release their grip. However, for that to happen, Axie Infinity will have to reverse months-long trend of faltering player numbers. Thanks to its robust gaming ecosystem, and recent updates, this could very well take place.
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10. Floki Inu – Innovative crypto incentives and features powered by FLOKI
Launched by a group of former Shiba Inu community members, Floku Inu (FLOKI) is a meme coin project that combines real utility with charitability, giving power to the ordinary people instead of VCs and hedge funds. At least, that’s what the tagline says. The truth, as always, is somewhere in between. Whatever your opinion is, it’s hard to deny that the Floki Inu saw considerable growth over the past year, headlined by the launch of Valhalla, an NFT-powered metaverse, an NFT marketplace, and an innovative crypto locker protocol.
What sets Floki Inu apart from many other doge meme-inspired coins is the fact that its burn wallet (in effect, its circulating supply), increased in proportion to the total number of FLOKI holders. The mechanics here are simple – the number of FLOKI holders goes up and the price of the token follows suit.
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11. Metahero – Futuristic 3D scanning for the metaverse
While most metaverse projects use simple graphics and cartoonish animations, Metahero decided to break that trend and bring photo realism (or, rather, close to it) to the metaverse. In collaboration with Wolf Digital World, the MetaHero team aims to capture “every detail of the physical world” and bring it into the digital realm.
To do so, the company leverages the expertise of photographers, graphic designers, engineers, and 3D scanning and modeling specialists. The results are ultra-high-quality scans of real-life objects. Unfortunately, by the time of writing, the team hasn’t yet delivered on its promise of a public Metascanner, which would allow the broader public to port real objects to the metaverse. If the Metahero team succeeds, the HERO token, being the native payment currency of the metaverse, is in a prime spot to explode.
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Bottom Line – Using penny cryptos to diversify your portfolio
Anyone who is in any shape, way, or form involved in crypto should know that this space is not for the faint of heart. Investing in penny cryptos, while exciting and capable of producing 10x, 100x, or even greater returns, should be treated as a high-risk investment strategy. If you are looking for more high-risk, high-reward investment ideas, you can check our list of the best crypto presales.
As a rule of thumb, you should complement risky investments with safer bets, which can serve as a great portfolio diversification strategy and safety net. For ideas about lower-risk investments, take a look at our selection of the best long-term crypto investments.
Disclaimer: The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
