Best Penny Cryptocurrencies to Consider in 2018
The higher the risk, the higher the reward. We find the perfect manifestation of this financial principle in penny cryptocurrency investing. Consider how countless investors have managed to turn their small nest eggs into giant jackpots simply by leveraging high risk in this market. Despite their acute volatility, penny and sub-penny cryptocurrencies remain popular investments because of their high reward potential. So, without further ado, we present to you what we consider to be the list of the best cryptocurrencies that cost less than a dollar.
Best Penny Cryptocurrencies List
|Penny Cryptocurrency||Symbol||What Makes It Unique|
|Stellar||XLM||Cross-border payments platform that secured a significant partnership with International Business Machines Corp. (NYSE:IBM).|
|Cardano||ADA||Smart contracts platform that touts to appeal to regulators, unlike most other cryptos.|
|NEM||XEM||Platform for creating decentralized applications, which is apparently more secure and more developer-friendly than bigwigs like Ethereum.|
1. Stellar (XLM)
Stellar is, hands down, our favorite pick on the list. Stellar’s fundamental use-case is as a digital platform for conducting swift cross-border money transfers. On a cursory look, you may find that it resembles the more popular Ripple (XRP), but Stellar is vying to reach a much bigger target market than Ripple.
For reference, Ripple is specifically targeting the financial industry. Banks are said to be Ripple’s key potential customers. Stellar, on the contrary, will cater to the world population at large. In other words, its potential customer base is the entire human race.
This is why, in my humble opinion, Stellar has a better chance of achieving mainstream adoption than Ripple. While Ripple is forming partnerships with financial institutions, Stellar has joined hands with IBM to achieve its superior objective.
IBM is currently building a cross-border money transfer platform using Stellar’s technology that will allow average people, like you and me, to send and receive money across countries at a fraction of the fee, beating the more expensive services like SWIFT (Society for Worldwide Interbank Financial Telecommunication).
IBM has already tested the service with about 12 different currencies and is continuing to rapidly expand its test net. Meanwhile, Stellar has formed similar partnerships, particularly in Africa and Asia, where cross-border remittances are in high flow and demand for frictionless cheap money transfers is considerably high.
At the time of writing, Stellar lumens (XLM) are selling for $0.34 apiece. Find out more about Stellar in our Stellar price forecast for 2018 here.
2. Cardano (ADA)
Cardano is another promising cryptocurrency selling for less than a dollar. Its best selling point is that it is creating a platform that may appeal to investors and regulators alike.
The recent cryptocurrency crash of 2018 has made it crystal clear that unanticipated government regulations are an ill omen for cryptos. Fear of strict regulations has already made investors apprehensive of investing in cryptos.
It’s easy to guess that an actual imposition of a ban or stringent trading requirements will cause these investors to run for the exits, resulting in another massive crash in prices. So any crypto technology that appeals to the regulators may easily withstand such a crash.
Chart courtesy of TradingView.com
Cardano is one such crypto technology that’s playing it safe by bringing regulators into the equation. The technology is still in the development phase, which means investors may still have a chance to get in early.
Currently, Cardano’s platform only allows for peer-to-peer payments, like Bitcoin does. However, its next upgrade dubbed “Shelley,” which is due to be released later this year, will make it viable for more than just financial transactions.
With Shelley, Cardano will become a platform similar to Ethereum, allowing for “smart contracts” and “decentralized applications” (DApps) to be created on its network.
We anticipate this penny cryptocurrency to take off following the release of Shelley, which is why it’s worth adding to your watch list now.
As I write this, the ADA to USD exchange rate is $0.28. Learn more about Cardano in our Cardano price prediction for 2018 here.
3. NEM (XEM)
Like Cardano, NEM is another sub-dollar cryptocurrency that’s taking on Ethereum. Its unique moat, however, is its “smart assets” platform that is more secure and scalable than Ethereum.
NEM, like Cardano, is also in the beta phase. It’s next iteration, dubbed “Catapult,” is currently being tested by a number of financial institutions and is expected to be released later this year.
Catapult, which will be able to process thousands of transactions in a second, could become the cornerstone of NEM’s successful growth in 2018.
Meanwhile, NEM is also reportedly creating its own exchange for trading coins. On top of that, it allows XEM coinholders to store away their coins in the NEM “cold wallet”—which is sort of a savings account that keeps their coins safe from hacks and heists. Security is another of NEM’s best selling points.
Moreover, NEM’s platform is also more developer-friendly than Ethereum’s. NEM supports multiple languages as opposed to Ethereum, which only supports “Solidity.” This makes NEM more practicable, since average developers do not need to specialize in one particular language to use it. In fact, virtually anyone with basic programming know-how may be able to create applications on NEM.
At the time of writing, XEM coin is trading for $0.34 apiece. Read more about NEM in our NEM price forecast for 2018 here.
Penny cryptocurrencies are a dime a dozen. Each one purports to be creating the next big thing in cryptographic technology. In actuality, most of these are not even worth a plug nickel. We hate to say it, but most cryptocurrencies are easily comparable to Ponzi traps or pump-and-dump schemes, which is why we repeatedly warn our readers to exercise due diligence before investing in penny cryptocurrencies.
That said, what we’ve shortlisted here are the three best penny cryptocurrencies for 2018, which truly boast a solid growth potential in 2018 on the back of their new partnerships and upcoming releases. These are hands down, the best cryptocurrencies trading for less than a dollar that you need to be watching right now.