When one says “penny cryptocurrencies,” it might give a lacking expression, especially to those who may have encountered it for the first time. However, most of the cryptocurrencies under this type can be labelled as “small but terrible” if we look into their potential growth. The potential of cryptocurrency is determined by a number of things: it might be the intrinsic worth of the underlying technology or investment, the project’s community and/or staff, or just hype.
In this article, we will look into the three best penny cryptocurrencies in 2021 that you might consider including in your portfolio. If you are looking for a trading platform with a beginner-friendly interface, Bitcoin Revolution is where you can start!
Table of Contents
1. Tron (TRX)
Market Cap: $7.2B
Tron is a digital platform built on the blockchain that mostly supports entertainment apps. The TRX token is used to gain access to certain features of the operating system software, which make it to be primarily used on the Tron blockchain. To that purpose, one of its most significant purchases in 2018 was the file-sharing service BitTorrent.
Tron was made to take on the media business front. Few large firms, such as YouTube, Facebook, and Apple, have a significant amount of control over what is watched and published on their platforms. Additionally, they reap the bulk of the revenue earned by the media, resulting in giving only a small cut of income to the creators. To address this concern, Tron was created with a specific goal in mind—and that is to assist content producers to get better compensated for their labour.
2. Stellar (XLM)
Market Cap: $8.9B
The Stellar Network is a decentralised peer-to-peer system, and the network’s native coin is Lumens (XLM). Stellar’s focus is to enhance financial inclusion by developing globally accessible, low-cost, and simple-to-use payment solutions. It also primarily attempts to link individuals and financial institutions everywhere around the world.
Lumens was created to assist individuals in overcoming the challenges posed by cross-border transactions. Stellar, which bills itself as “finance with a mission,” solve transactional issues like long processing times and hefty costs by not charging people or organisations to use its network. A distributed exchange method is also available in Stellar, which enables users to transmit payments in a particular currency even if they have credits in another, with the network performing the currency translation automatically.
3. Dogecoin (DOGE)
Market Cap: $36.7B
Dogecoin has been dubbed the “King of Meme Coins.” It is a parody tribute to bitcoin with no actual purpose other than to make people laugh. Its technology is based on Litecoin. Putting aside its satirical design, the low price and endless supply of Dogecoin, which employs the scrypt algorithm, are its notable aspects.
Dogecoin bears several technological similarities from Bitcoin, the world’s first and largest cryptocurrency. As a result, the network is safe and allows for real-time agreement. Dogecoin has had a remarkable journey from its humble beginnings as a fun notion to contributing $100,000 to charity and being a key participant in the WSB Reddit campaign.
Please keep in mind that we do not provide financial advice on how to properly use cryptocurrency. The goal of this post is to inform and educate our readers. The crypto market has a big room for volatility, so when trading currencies, keep your emotions in check. Dealing with digital assets should only be done if you are completely aware of the hazards.
You should conduct research on your chosen digital asset(s) and get counsel from a licensed financial advisor before engaging in any investment-related activity. Each trader’s journey is unique. Your success in the field will be determined by your tenacity, determination, and hard work. Best of luck!
Above mentioned is the list of top Penny Cryptocurrencies.