Best Penny Cryptocurrencies to Invest in 2021
In the highly dynamic cryptocurrency world, it is important to not keep all your eggs in a single basket. Having a diversified portfolio can go a long way in ensuring constant growth and profits. However, investing in popular cryptocurrencies such as Bitcoin and Ethereum is expensive and does not leave much room for diversification especially for small investors.
The good news is, the cryptocurrency ecosystem is a diversified space in itself and has something to offer to everyone. Penny cryptocurrencies can be a great tool to smartly invest while ensuring variety. Penny cryptocurrencies are cryptos that an investor can purchase for less than $1.
There are several penny cryptocurrencies in the market that have a lot of potential to reach a higher price in the next few months. Let’s take a look at the top five penny cryptocurrencies to invest in 2021.
Ripple is one of the most popular penny cryptocurrencies in the market launched in 2012 as OpenCoin. Ripple reached the highest price three years back at $3,5 which is almost triple the price it is currently being traded at of $1.16. XRP has an advanced utility factor as it offers quick international transactions.
Initially developed as an alternative to traditional finance and to offer a quick and cheaper cross-border payment method, Ripple is a great investment asset to have in the portfolio.
- Stellar Lumens (XLM)
Stellar Lumens focuses solely on enabling remittance and cross-border payments and has quickly become one of the leading cryptocurrencies with over $614 million daily trades. Currently, the currency is being traded at $0,0351 with a potential for growth in the future.
XLM was designed to become an open financial system that would provide access to income levels with low-cost financial services such as mobile money, mobile branches, remittances, micropayments and so on.
- Basic Attention Token (BAT)
Basic Attention Token is one of the most sought-after penny cryptos because of the reliability of the project. BAT is an ERC 20 token that currently ranks under the top 100 cryptocurrencies on CoinMarketCap. The token is currently available to buy at $0.7281 and has a daily trading volume of over $230 million. Moreover, Basic Attention Token takes a customer-first approach and is dedicated to offering the best services to its community.
- Ravencoin (RVN)
Ravencoin recently saw an influx of traffic because of its robust combination of technical price action and ethical fundamentals. While relatively new penny cryptocurrencies, Ravencoin has observed a daily trading volume of $60 million and is currently trading at $0.1109. Moreover, Ravencoin operates similarly to Bitcoin in making direct payments and is developed for several purposes including determining asset ownership.
- Zilliqa (ZIL)
Zilliqa is one of the world’s first blockchain developed on a sharded architecture. The use of blockchain sharding helps the crypto to offer faster and cheaper transactions which is one of the reasons for its growing popularity. The ZIL token is currently trading at $0.09 with a daily trading volume of over $59 million.
Penny cryptocurrencies are an excellent way to diversify an investment portfolio and mitigate the risk of volatility. All of the above-mentioned cryptocurrencies can potentially grow in the coming months making it a great investment opportunity.