The best penny cryptocurrencies for 2020 can be a lucrative way to expand your crypto portfolio. While investing in cryptocurrencies can be intimidating for many traders, if you do your own research, they can offer you huge potential.
Our TSG team believes that there are still some secret gems out there in the multitude of coins. There are over 1600 coins on the market and growing. From this huge list, we will choose for you the top cryptocurrency to invest in .
Remember, at one point even Bitcoin was a coin!
A cheap coin does not necessarily mean that the cryptocurrency is undervalued or unreliable. This line of thinking shows a fundamental misunderstanding of supply and demand and market cap. Many new ICO teams and developers are very creative. They create coins with artificially low prices so that new investors will be interested in their cryptocurrencies.
The prevailing sentiment is that people would rather own 1,000 cheaper coins than 0.10 Bitcoin. Bitcoins are expensive, so most of the time you can’t get a lot of bitcoins at once unless you’re a millionaire. However, you can buy 1,000 Ripple XRP for just $400, much better than 0.050 BTC.
Moving forward, we will dive into what you need to look for so you can find the best cryptocurrency to invest in , but first, let’s start with what is cryptocurrency?
What is Penny Cryptocurrency?
A cryptocurrency is any coin with a value of less than $1. In a sense, they can be thought of in the same way that penny stocks are related to classic stocks. A similar relationship exists between penny coins and regular cryptocurrencies.
To a certain extent, penny coins are more volatile and if you choose the wrong one, it is definitely a risky investment. However, they also have a huge potential to generate 100x, 500x or even 1,000x profits.
Some coins have generated outstanding returns. For example, Ethereum back in 2017 was up nearly 10,000%. But even this performance pales in comparison to the 1,582, 000% gain realized by the Verge XVG.
Before even thinking about making this kind of profit, we first need to find out a good place to buy penny cryptocurrencies .
See below:
Where to buy cryptocurrency?
Unfortunately, buying penny cryptocurrencies is a two-step process. You simply cannot buy coins under 1 dollar directly with fiat money. For this purpose, you need to buy Bitcoin or Ethereum with fiat money first. Most altcoins are traded against Bitcoin or Ethereum, so you need to have BTC or ETH to buy penny crypto.
The number one exchange that allows you to buy cryptocurrencies with fiat money is Coinbase. So this is the first step. Second, after you buy Bitcoin, you simply transfer your BTC to an altcoin exchange like Binance so you can buy your crypto.
#1 Binance This is our most trusted and recommended place to buy and sell cryptocurrencies. Binance is known for a strong team, proven products, superior technology, and industry resources. They have strong relationships with industry leaders and are capable of or 1,400,000 orders per second, which makes them the fastest exchange available today. You can sign up with them in less than 5 minutes here.
Get $10 Free With Coinbase: Open a coinbase account using the link below and they will give you $10
#2 Coinbase This is by far the most popular. Binance or Coinbase is a great option if you are looking to buy and sell crypto. You can sign up here if you want!
Now let’s see what are investment cryptocurrencies and have the potential to generate insane returns.
Penny Cryptocurrencies to Invest in
We are always looking for under 1 dollar coins or cryptocurrencies to invest in and have the potential to explode and double and triple our money. This is what our crypto portfolio is all about.
We need to focus on the importance of a cryptocurrency worth less than $1. Not all coins are created equal so in some cases it is better to buy a piece of Bitcoin than 1,000 altcoins with no future and just some scam coins built on top of that. exaggeration.
Having said that, our team at TSG will provide you with our top three cryptocurrencies to invest in that have the potential to grow. We encourage everyone interested in investing in the crypto space to do their own research on all coins as you don’t want HODL to deposit coins.
Penny Cryptocurrency #1: IOTA
Our first pick for coins under $1 is IOTA. IOTA has the power to change the way we make payments. There is a huge difference in the IOTA blockchain compared to most other cryptocurrencies out there.
IOTA promises completely free transactions. So if you are participating in the IOTA network and want to send payments you need to use your device to confirm two payments and that way just joining the network is enough to get access to It.
The free feature that allows all types of microtransactions will make IOTA a good pocket for HODL in your crypto portfolio.
If you are looking for a practical way to trade IOTA, please check out our trading strategy: IOTA Cryptocurrency Strategy – Double Top Model.
Penny Cryptocurrency #2: Ripple XRP
Our second favorite penny cryptocurrency is Ripple XRP. This cryptocurrency is currently trading at $0.35 with huge growth potential.
Ripple promises to help banks and financial institutions on how to process transactions and payments. If you’ve ever been to a bank and realized how much money it takes to make a simple transfer, you’ll realize that they steal your money.
Everything is slow and everything is really expensive. Ripple may work with banks or it may work without them, but it will allow for fast real-time transactions. This also happens for a fraction of the cost.
If you are looking for a practical way to actively trade Ripple, please check out our trading strategy: Best Ripple Trading Strategy That Can Make You Millions
Cryptocurrency #3: SiaCoin
Our third cryptocurrency under $1 is SiaCoin which allows users to rent unused hard drive space and earn. One thing that makes this blockchain technology so appealing is that it has a variable pricing model.
So, as more users add storage, the price will drop, and if storage becomes scarce, the price of storage will go up.
This technology has huge potential to disrupt Amazon AWS, Dropbox and Google Drive. For that reason and the fact that it trades under 1 cent – at the time of this writing – we think it has incredible growth potential and it could really cause disruption in the cloud storage industry. cloud.
Conclusion – Best Penny Cryptocurrencies 2018
Blockchain technology has the potential to really change the way people handle money, especially within the next 10 to 20 years. When you invest in cryptocurrencies, the most important thing to do is do your research. The most important thing is that the penny cryptocurrency is a great alternative investment option for those who do not have a lot of cash. Our 2019 Best Penny Crypto Guide simply highlights three projects that we believe have potential returns that outweigh the risks involved.
We think these three coins are the best cryptocurrencies to invest in as they have solid potential to explode during the bull phase in 2020. Remember that at one point even Bitcoin was an electronic currency.