7 Best Penny Cryptocurrency to Invest Right Now in 2019 - Updated

  • Denys Serhiichuk
    📚 WikiCoin

    Now one cannot surprise anyone by investing in Bitcoin or Ethereum. They are the most popular coins to invest in, however, in terms of profitability, you will not get thousands of percentages. In this case, it would be reasonable to attract attention to cryptocurrencies which cost $1 or less. In this article, we will cover those coins whose rate is low and are the most attractive for investment   


7 Best Penny Cryptocurrency to Invest Right Now in 2019 - Updated

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Most investors choosing investment in cryptocurrency for some reason consider only Bitcoin. Yes, its liquidity is not comparable with other cryptocurrencies, but this is probably the only advantage.

At the moment, there are more than a dozen worthy counterparts that also have high volatility, and most importantly, the opportunity has appeared to buy or sell them pretty quickly.

Moreover, these digital currencies have one main advantage over Bitcoin: they are much cheaper, which means they have huge growth prospects. We selected the top 7 coins with a cost less than $1 and can give you profit in 2019.

DigiByte (DGB)

DigiByte is a special decentralized payment network based on 5 algorithms – Scrypt, Sha-256, Qubit, Skein, Groestl. This unique development makes DGB the fastest and one of the safest digital projects.

The fact that DigiByte is based on several algorithms makes mining this cryptocurrency as profitable as possible.

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DigiByte benefits

The project has quite a lot of advantages. Let's select the main ones:

  • Global network decentralization. The DGB network is distributed worldwide on 100,000 servers, PCs and other devices. It is worth noting that each device connected to the DigiByte network automatically becomes one of the nodes.

  • Maximum protection level. The DGB network operates on 5 algorithms, so it is not possible to hack it.

  • Fast transactions. DGB blocks are created every 15 seconds, making transfers within the network super-fast. In fact, now the DGB network is 40 times more powerful than the Bitcoin blockchain.

  • A limited supply of coins. A total of 21 billion DGB coins will be issued, which are planned to be mined until 2035.

DGB cryptocurrency is one of the most promising investment options at the moment. It was supported by many exchanges by adding it to their list of trades. This makes it clear that DGB can be trusted and put money into it.

Therefore, if you have the financial resources available, then feel free to add this digital asset to your long-term custody in your investment portfolio. In the long run, DGB has every chance to increase its value by several dozen times.

BitShares (BTS)

On the basis of BitShares, independent companies with a decentralized structure are created. As a result, they bring reward to investors. It turns out that the more the system develops, the more profitable as an investment tool one of the cheapest coins becomes.

In 2018–2019, dozens of ICOs are scheduled for release based on BitShares. Not everyone will succeed, but a certain percentage will become noticeable. The platform is multifunctional, and it represents a whole ecosystem – this is both an exchange, a toolkit for developers, and a bank.

IOTA (MIOTA)

The MIOTA project is based on Tangle technology, which provides a higher rate of transactions compared to competitors. Moreover, the uniqueness of this method lies in the fact that as the number of users grows, the scalability of the system improves. IOTA cryptocurrency was created as part of an innovative Internet of Things project. The development of this system involves such leading brands in the field of technology, such as Samsung, Google, IBM, and Microsoft. The mere fact that these companies paid attention to the project and to the Internet of things in general, speaks about the prospects of this direction. It is unlikely that world giants would waste time and money.

The key fundamental factors affecting the price are the following:

  • The IOTA Foundation launched its first international IOTA Academy program in close collaboration with the Academy of Deep Technologies, based in Berlin and Shanghai.

  • The job of removing the Coordinator from the IOTA networks is in progress. The ultimate goal is to make the internal work of the current network configuration completely transparent with the open version of the Coordinator working in Mainnet.

  • Jaguar Land Rover, the largest car manufacturer in the UK, announced the start of software testing that will allow drivers to receive cryptocurrency for data exchange. The car giant is developing a “smart wallet” that will be installed on vehicles to provide cryptocurrencies. Crypto holders will be able to earn IOTA for exchanging information, such as traffic conditions or potholes, using automatic sensors connected by navigation providers or local traffic authorities.

Analysts are confident that more than half of devices will connect to the Internet of things in 2022 – and IOTA has every chance of becoming an internal cryptocurrency. As for the benefits, the IOTA project allows for small transactions without technical problems and increasing the time of operations. The advantages of this system also include the absence of commissions. Accordingly, any transfers within the system will proceed without additional costs.

Stellar (XLM)

Stellar Lumens website

Generally speaking, Stellar is a hard fork of Ripple. At first, the platform even functioned on the same protocol, but soon the open-source one was developed.

The internal currency of the network was originally also called Stellar but was later renamed to Lumens. The separation from Ripple was not smooth, but this did not prevent the company from developing and achieving cooperation with IBM in 2017.

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The essence and rules of the system Stellar are:

  • The institute of privileged network members has been abolished. The non-profit and non-equity development fund of the Stellar Development Foundation, which was created by the team, is solely responsible for ensuring that the source code is always open.

  • The team has committed to publish reports covering the company's activities.

  • Lumens has a limited emission of 100 billion coins (as did Ripple), but there are also 2 indicators: 1% inflation per year and 5% for operating expenses. 25% of the total amount of coins will go to non-profit organizations.

  • The network has a restriction that no single holder of a large amount of XLM could sell coins for 5 years. Thus, the team managed to generate credibility from the users.

In general, it is worth noting that the Stellar system has a great future and good prospects. It has received good responses from the very beginning of its existence. Moreover, in 2018, it was recognized as the fastest growing cryptocurrency project for ICOs. The Stellar platform took 2nd place in terms of the number of ICOs held on its base (after Ethereum).

Ripple (XRP)

XRP logo
Image by 123rf

Ripple platform was created as a direct competitor to the banking system and its money transfer technologies between people.

The blockchain technology used by Ripple allows conducting transactions quickly, safely, and anonymously. In addition, this method of exchange of funds is cheaper due to the lack of intermediaries. Cryptocurrencies have to prove their viability as a reliable payment tool, but already now, many people have started to invest in cryptocurrency markets, which positively affected the XRP rate to grow actively.

Ripple is based on the blockchain, but it differs from such popular cryptocurrencies as Ethereum, Litecoin, and Bitcoin. It is a universal payment platform, which aims to conquer the market of remittances. The creators of this currency initially focused on succeeding over the SWIFT system, offering users a safer, more reliable, and faster way to transfer funds. The future of XRP cryptocurrency will largely depend on how quickly the founders of this payment tool can achieve their ultimate goal.

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There are several significant differences between the usual bank transfers and the Ripple cryptocurrency platform, namely:

  • When performing operations on transferring fiat currencies to other countries, payment pass through the hands of several intermediaries. In this case, all funds are be converted, which leads to the need to pay additional fees. Such transfers require a lot of labor on the part of financial organizations; in addition, they are characterized by high cost and low speed of execution.

  • A ripple wallet reduces the number of transactions and intermediaries in the implementation of such transactions to a minimum. The primary currency will be immediately converted into XRP, and then transferred to the currency required by the recipient. The operation will be carried out in a few seconds. The distance and size of the translation does not matter when using this system.

Cardano (ADA)

Cardano
Cardano by pexels

The project is interesting because there are three departments here: the Special Fund of Cardano; Emurgo, which is responsible for the development of marketing; and IOHK, a company operating in the blockchain industry. The main objective of the project at first glance may seem vague. Developers are working to create a decentralized economy and financial environment.

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Here are the main advantages of Cardano:

  • Reliability and high-speed network.

  • Separation of management levels.

  • The wide functionality allowing to use smart contracts, create applications, and also to work with payment system.

  • The system implements voting management, where users can make decisions on the future development of the project.

Status (SNT)

The Status network is closely related to Ethereum and is suitable for people using ETH as a platform or currency. Status is both a browser and instant messenger for interacting with distributed applications. The alpha version of the application already exists and is available for download on Android and iOS.

Using the application, you can:

  • Send and get encrypted messages and transactions based on smart contracts.

  • Interact with decentralized applications and use chat.

  • Keep and manage crypto assets.

The ecosystem as a whole is not yet sufficiently developed to talk about the completion of the project. The main thing is that the developers are not going to give it up. Participants in the cryptocurrency market show an increased interest in the coin. There is a possibility of its cost rising in the next few months.

Cover image via www.123rf.com
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