Best Penny Crypto to Buy for 2024

Penny cryptos offer a cheaper way to enter the digital currency market and also allow investors to create a diverse portfolio in a shorter amount of time.

There are thousands of digital currencies in existence – many of which are priced at just a fraction of a penny.

As such, to narrow down the all-important search – this guide analyzes and ranks the 10 best penny crypto to buy for 2024.

Full Reviews of the Best Penny Cryptos to Invest in 2024

Having scoured the market, we believe the cryptocurrencies listed below would be a worthy addition to any investor’s portfolio.

To aid the decision-making process for investors, we’ve detailed key points like what the project is all about, use cases, market cap, and more.

1. Wall Street Memes (WSM) – Overall Best Penny Crypto of 2024

Wall Street Memes, with its unique approach to memes and a thriving community, is the best penny crypto of 2024.

Inspired by Wall Street Bets, a legendary Reddit group, Wall Street Memes stands as a symbol of victory over corporate overlords. Similar to how Wall Street Bets could mobilize the community to create Gamestonks – a Gamestop short squeeze, Wall Street Memes aims to mobilize the community through memes to make its native memecoin – WSM – a way to generate wealth in the crypto space.

Bearing no utility and with a sole focus on a community, Wall Street Memes doesn’t redefine anything. It is an honest memecoin that is leveraging the power that comes from humour to drive up the price of WSM and generate gains for investors.

The project’s community, however, is 1 million strong. And with the likes of Elon Musk interacting with the ecosystem on three separate occasions, Wall Street Memes has already established notoriety even before landing on cryptocurrency exchanges.

Now in the middle of its 20-staged presale, Wall Street Memes has raised close to $18 million already. The project is gaining traction, and the presale’s conclusion would likely line up many exchanges to list it, which would help this token’s value pump, bringing profits to early movers.

2. Launchpad XYZ (LPX) – Best Penny Crypto For Web 3 Enthusiasts

Launchpad XYZ is an all-encompassing that doesn’t focus on a single attribute of Web 3 but chooses to pay attention to all. Created by a team of developers seeking to make Web 3 more inclusive, Launchpad XYZ is an all-in-one ecosystem where users can find their next best Web 3 project to invest in.

Among its many features include the NFT analyzer, which allows users to find the NFTs with the most definite upsides. Fractionalized assets are another perks, which will split tokenized assets into different fractions to make their value more inclusive. Launchpad XYZ also helps users pick the next best utility crypto to invest in.

From a metaverse finder to a presale analyzer and from a play-to-earn hub to a Web 3 wallet, Launchpad XYZ is a project that is going after everything aspect of Web 3 to make the concept of blockchain more palatable for all.

Underpinning these features is the Launchpad Quotient, an innovative ranking system that uses 400 data points, from social to financial market data, to give a trust score to assets.

This scoring system and the features of Launchpad XYZ are managed by Apollo, the custom AI by the team that uses large language models and natural language processing to help users find their next big opportunity in Web 3.

While Launchpad XYZ promises a lot, it does so in an inclusive way. Every technology it implements is now available, which makes LPX – its native crypto – a worthy investment for penny crypto seekers.

3. Evil Pepe Coin (EVILPEPE) – Best Penny Crypto for Memecoin Enthusiasts

Evil Pepe Coin is a penny memecoin inspired by Pepe Coin. Claiming to let users embrace the darker side of the meme coin game, Evil Pepe represents the drive that urges investors to participate in memecoin investments at the wrong time – during peaks, when they end up incurring massive losses.

A community-driven memecoin built on Ethereum, Evil Pepe Coin embraces the humour-filled, chaotic energy of the meme culture with the financial speculation that drives meme tokens prices to generate value for investors.

According to its official whitepaper, it taps into the universe’s experience of succumbing to FOMO and gives users a way to invest in memecoin not while listing but during a presale phase to circumvent the volatility of the crypto market.

Like most memecoins, this penny crypto doesn’t have any utility because it does not need it. The community drive that can potentially drive this crypto is strong. Its use of Pepe the Frog imagery has the potential to go viral, and its honesty about what it is meant to be will likely bring many buyers even after the presale – making it a worthy investment for early movers.

4. BTC20 (BTC20) – A Penny Bitcoin on the Ethereum Blockchain

Bitcoin has proved to be very profitable for those who got in early. But that was over a decade ago, and getting it now, at a time when its value is hanging above $30k only by a thread, is not worth or within the reach of most investors.

However, Bitcoin’s success can be traced back to the time when it was $1. Being available to early movers at a dollar value, the oldest crypto showed potential even before it became a household name in the crypto space. BTC20 is aiming to replace the same but in a more inclusive.

BTC20 ditches the energy and hardware-heavy Proof-of-Work consensus mechanism for the greener and more inclusive Proof-of-stake. And instead of giving rewards to users for mining, it embraces a stake-to-earn mechanic with the same underlying principle.

While BTC20 choose to veer from the essentials of Bitcoin, it stays true to its tokenomics. It also has a total supply of 21 million, out of which it intends to sell 6.05 million tokens at $1. The remaining 14.95 million tokens are locked inside a liquidity contract. They will be released to the stakers of BTC20 as APY rewards for the next 120 years.

Replacing mining with staking and bringing Bitcoin’s fundamentals to the Ethereum blockchain gives BTC20 a good look. It can potentially become the Bitcoin for the Ethereum blockchain and can potentially reach the same value over the next decade.

5. Chimpzee (CHMPZ) – Green Penny Crypto with Focus on Combating Climate Change

Chimpzee is a new green penny crypto that is using the power of blockchain to create multiple mechanics to combat climate change. This ERC-20 asset provides three ways to earn and is already making eco-friendly moves during its presale phase.

The three earning mechanics separate Chimpzee from other green projects of similar nature:

1. Chimpzee Shop – Chimpzee shop is how Chimpzee’s Shop-to-Earn mechanic comes into play. Investors can spend on buying Chimpzee gear and merchandise from the shop. Chimpzee will donate a portion of the profits to eco-focused organizations and share a portion of the profits with investors in terms of CHMPZ tokens.
2. NFT Marketplace – NFT Marketplace is how Chimpzee is planning to implement its “Trade to Earn” mechanic. The Chimpzee NFT is a collection of multiple NFTs with randomly generated attributes that can be bought and sold in the marketplace. Those who actively engage with the marketplace will earn a portion of the overall profits generated by the ecosystem.
3. Zero Tolerance Game – With Chimpzee’s zero-tolerance game, investors will see the gamification of environmental activism. By completing a list of tasks – both physical and virtual – users will be able to earn CHMPZ tokens.

Chimpzee’s simplification of these earning mechanics is the reason the community is bullish about this penny crypto already. Whatever mechanic it exposits is accessible, making Chimzpee a good pick for beginners and veteran investors alike. And seeing the current traction of green crypto assets, Chimpzee can potentially become more valuable in future.

6. Cardano (ADA) – Energy Efficient Penny Crypto With Applications Including NFTs and DeFi

With a vision to improve life and shift power to the periphery, Cardano, a blockchain platform, has great ambitions. Cardano describes itself as a platform for innovators and visionaries. The native coin of Cardano is called ADA, and it is used to cover transaction costs.

Cardano supports smart contracts. It may be used by developers to create decentralized finance (DeFi) systems and apps (dApps). This crypto project also has an NFT marketplace, called CNFT.IO.  Furthermore, this is also one of the few blockchains with leading environmental practices.

According to Cardano’s founder, the network only consumes 6 GWh of energy annually, making it possible to create a balanced and sustainable environment. This is a tiny energy footprint compared with Bitcoin – which uses around 115.85 terawatt-hours annually.

This platform also employs a Proof-of-Stake consensus process, where users of the currency purchase tokens to join the network, making it naturally more energy efficient than Bitcoin. As well as being one of the more eco-friendly digital coins, it is one of the best penny cryptocurrencies for staking rewards.

Investors who stake Cardano’s native cryptocurrency can earn annual rewards of over 11%. Cardano peaked at a little under $3 in September 2021 and at the time of writing is trading at less than $0.50, making it one of the best penny cryptocurrencies. The market capitalization of Cardano at the time of writing is over $16 billion.

Cryptoassets are a highly volatile unregulated investment product. 

7. Immutable X (IMX) – Penny Crypto From the Development Team Behind Gods Unchained

Immutable X offers a second-layer NFT solution for the DeFi industry and the next generation of web 3.0 games. The project’s objective is to make NFTs as useful as some traditional cryptocurrencies, if not more so.

Notably, Immutable X is the project in charge of creating some of the best NFTs to buy – Gods Unchained and Guild of Guardians. For those unaware, Gods Unchained is a tactical free-to-play game on the Ethereum blockchain.

The Immutable X project also aids in overcoming developer limitations. The network offers an adaptable framework that anybody can use to create unique decentralized markets. This includes blockchain-based games, and much more.

Immutable’s minimal cost structure makes it perfect for NFT gaming. There are no gas costs associated with creating or launching a play-to-earn ecosystem via Immutable X. On sales and NFT trades, a modest fee is charged.

Immutable X specifically collects 2% and distributes the fees around the network. The documentation provided by Immutable X states that 2% of these fees are converted to IMX and added to the staking reward pool.

At the time of writing, Immutable X has a market capitalization of less than $250 million. As such, the upside potential on this project could be huge.

Cryptoassets are a highly volatile unregulated investment product. 

8. Stellar (XLM) – Potentially Undervalued But Well-Established Penny Cryptocurrency

Those searching for the best penny crypto to buy will have come across Stellar. The native token of this decentralized network is XLM. The Stellar network is distributed among numerous servers, like other blockchain-based decentralized platforms and exchanges.

The usefulness and practicality of XLM are key determinants of its value. Stellar’s capacity to handle international payments rapidly, effectively, and affordably allows it to tick many boxes.

IBM and MoneyGram are two of the most important partners Stellar has established. Stellar was created with the common user and underdeveloped nations in mind.

This allows Stellar to facilitate more efficient cross-border remittance flows and payments from Africa to Europe and vice versa.

As such, the platform offers easy, rapid, and affordable transactions that provide users with better access to the global economy. At the time of writing, this penny crypto has a market capitalization of nearly $3 billion and has always been a cheap crypto under $1 since its launch.

Cryptoassets are a highly volatile unregulated investment product. 

9. Dogecoin (DOGE) – Meme Penny Cryptocurrency With a Huge Community Following

Despite starting off as a meme token and a lighthearted alternative to Bitcoin, Dogecoin is still one of the most promising penny cryptocurrencies to invest in. Dogecoin runs on its own blockchain. Its token, DOGE, can be used to pay for tips on Twitter, and other goods and services.

Dogecoin became publicly listed in 2013. Things didn’t really take off for the project until 2021 when it became the first big meme cryptocurrency. Reddit and other online communities of retail investors joined forces to send DOGE ‘to the moon’ by buying on mass.

Not only that, but Teslas’s CEO and other celebrities showed their support for Dogecoin on social media platforms. This also sent small investors into a buying frenzy, causing the coin to rise in value.

Although this penny cryptocurrency began as a parody, it soon managed to go from a market capitalization of around $1.3 billion at the start of 2021, to over $85 billion by May of the same year.

At the time of writing, Dogecoin has a market capitalization of nearly $9 billion. Investors who believe DOGE could go to the moon again might add it to their portfolio now whilst it is trading at a 950% discount compared with its all-time high in 2021.

Cryptoassets are a highly volatile unregulated investment product. 

10. IOTA (MIOTA) – IoT Network With ZERO Transaction Fees and Almost Unlimited Scalability

Those looking for something a little different from the other assets on this best penny crypto-list might like IOTA. Unlike many other cryptocurrencies, IOTA does not carry out its operations using blockchain technology.

Instead, a variety of IoT (Internet-of-Things) apps are used by the platform. IOTA originally began as a maker of IoT hardware chips. The company shifted its attention to advancing the decentralized network features of this technology after seeing the potential of an IoT network.

As such, the IOTA project enables developers to investigate use case scenarios, their interfaces, and various IoT features in more detail. The IOTA network is specifically capable of handling data transfer to and from IoT ecosystem-linked devices.

The IOTA ecosystem’s primary utility token is MIOTA. This coin is used to pay fees, deploy smart contracts, and account for transactions. IOTA’s expandability is essentially only constrained by the adaptability of its programming languages according to the way it is structured.

When investing in IOTA, there are no transaction fees to pay. The market capitalization of MIOTA at the time of writing is over $844.6 million.

Cryptoassets are a highly volatile unregulated investment product. 

11. Gala (GALA) – Simple and Intuitive Blockchain Gaming and Metaverse Platform

Gala is the best penny crypto for those interested in gaming and the metaverse. Gala is a community-led platform with a variety of crypto games under development. Importantly, it is not centered on one particular crypto game or virtual world.

There are also some significant achievements on the horizon for the team behind this penny crypto. The most noteworthy is Gala’s intention to switch to a private blockchain. At the time of writing, it is supported by the ecosystems of Binance Smart Chain and Ethereum.

By moving over to its own network, it will create an ecosystem that allows it to lower costs and accelerate transaction times. Moreover, Gala and the Epic Games Store are partners. Epic is a significant non-blockchain gaming firm.

One of the first web 3.0 games to be launched on the Epic platform will be the forthcoming Wild West title – GRIT. While there are numerous cryptocurrency initiatives that provide opportunities for metaverse participation, Gala is noteworthy since it also grants users access to NFTs and play-to-earn games.

From the start of 2021 to the end of the year, Gala witnessed gains of more than 45,000% for investors. Gala’s all-time high was $0.71 in November 2021. At the time of writing,  it has dropped sharply by almost 92% from that high.

According to CoinMarketCap, analysts are predicting that the value of the metaverse economy in the coming years could reach $13 trillion. As such, this is potentially a bargain entry opportunity for investors looking for crypto under a penny that will explode.

With the metaverse being the latest craze, metaverse coins could be one of the highest potential crypto assets.

Cryptoassets are a highly volatile unregulated investment product. 

What Does Penny Crypto Mean?

Investors who look for the best penny cryptocurrency to buy are searching for digital assets that are valued at under $1 per coin.

There is a wide range of cryptocurrencies and they also vary wildly in price. Despite being high-risk, their low cost and the potential for high reward is attractive to many investors.

Penny cryptocurrencies come in all shapes and sizes. For instance, where some offer investors entry into the metaverse space, others are utility tokens used for payments.

Then there are penny digital currencies that can be used to buy NFTs within crypto games.

Should I Buy Penny Cryptocurrencies?

Whether or not investors should buy penny cryptocurrencies will depend on their appetite for risk and personal objectives.

Below, we shed some light on why many investors choose to familiarize themselves with how to buy penny cryptocurrencies. Alternatively, our guide on the best cryptos to buy now on Reddit covers all the trending altcoins making headlines in 2024.

Cheaper Way to Enter the Cryptocurrency Market

Due to the nature of this type of asset, investors can buy the best penny crypto tokens at very little cost.

When compared with the likes of Bitcoin and other large-cap crypto assets that cost thousands of dollars to invest in, these are extremely budget-friendly.

Some of the cryptocurrencies we’ve talked about today can be purchased for less than $0.01. For instance, WSM can be bought on presale for around $0.0032.

Potential to Produce Impressive Gains From a Small Initial Outlay

Even the most promising penny cryptocurrencies are high-risk assets. With that said, those brave enough to take the risk could also reap the rewards if the project makes it big.

For instance, as we mentioned, in the case of Dogecoin, the project carried a market capitalization of $1.3 billion at the start of 2021 and was valued at over $85 billion by May of the same year.

Moreover, investors who purchased DOGE tokens for $0.005 at the start of 2021, and sold them during the all-time high of $0.74, made gains of 1,400%.

Create a Diverse Portfolio of Cryptocurrencies

Due to the low-cost nature of penny cryptocurrencies, investors can create a diverse portfolio of assets while allocating very little funds.

For instance, instead of an investor buying $20 of the same cryptocurrency, they could opt to diversify with a range of different coins.

As an example, this could include the penny memecoin like Wall Street Memes and a community-driven decentralized ecosystem like Launchpad XYZ.

Best Place to Buy Other Cryptocurrencies 

To access the other penny cryptocurrencies we’ve discussed today, investors need to seek out a trustworthy platform with low fees and plenty of assets.

In this case, below, we’ve reviewed the top platform from which to buy the best crypto under a penny now – eToro.

eToro – Best Investment Platform to Buy Penny Crypto

eToro is a top-rated social trading platform that has more than 25 million registered members. There is a wide range of digital coins available to buy at just 1% commission plus the bid-ask spread. This includes most of the best penny cryptocurrencies we’ve talked about in today’s guide.

Ever thought about buying cryptocurrencies in a passive manner? This platform allows investors to copy the trades of someone with more experience. After investing $200 or more, each time the pro buys or sells a cryptocurrency, the same is automatically copied over to the portfolio of the investor. This is called Copy Trading.

To copy an entire collection of cryptocurrencies, take a look at Smart Portfolios. There is a good selection to choose from that focus on crypto assets and the minimum investment, in this case, is $500.

The minimum deposit is $10 for US investors, which is also the smallest position size. There is also a variety of payment types to pick from when funding an eToro account to buy penny cryptos. This includes credit/debit cards, as well as e-wallets like Skrill, PayPal, and Neteller. ACH and wire transfers can also be used to fund the account.

The eToro platform is easy to use for newbies and skilled investors alike. There is also a paper trading account with $100k in demo funds and a free mobile app.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

Best Penny Crypto Stocks

For those unaware, cryptocurrency penny stocks are publicly traded companies that are $5 or less, and they invest indirectly into the growth of blockchain. This offers investors an alternative way to add penny stocks to their portfolios.

Find a list of the best crypto penny stocks to buy below:

• One World Universe – One World Universe invests in sports-related businesses, distressed assets, and more within emerging industries like the metaverse. It provides humanitarian efforts in over 185 countries and has acquired a media company to assist with an NFT collection and movie/animation projects. At the time of writing, this stock trades for less than $0.04 and in one year has increased by over 93%.
• Tautachrome – This is an internet technology startup that is ready to revolutionize the way people see, validate, and utilize video and pictures. The business is currently working on the KlickZie application platform. This will employ blockchain technology to transform smartphones into reliable images. The goal is to enable users to own, verify, interact socially with, and sell their photographs. At the time of writing, this penny crypto stock trades for around $0.001.
• Bit Digital – Bit Digital is a large-scale publicly listed mining company As the company name suggests, it functions primarily with the goal of acquiring Bitcoin. The company operates on a global scale and at the time of writing its stock trades for less than $2.
• Sphere 3D – With many years of demonstrated experience in business data services, Sphere 3D is a net carbon-neutral Bitcoin miner and software company. At the time of writing, Sphere 3D stock is trading at less than $0.80.
• DatChat – This company creates software for security. The business designs personal privacy platforms that decentralize global communications. Using blockchain technology, the company puts a strong emphasis on internet security, digital rights administration, and encrypted communication. At the time of writing, it costs less than $1.15 to invest in DatChat stock.

As is clear, penny cryptocurrency stocks come in all shapes and sizes. As such, investors should consider their goals to decide which is the most suitable way for them to enter the penny crypto stock space.

Conclusion

Today we’ve discussed the best penny crypto to invest in and a range of great alternatives. We also talked about why investors might look to diversify with penny crypto assets as well as how to buy them.

The best penny cryptocurrency to invest in 2024 is Wall Street Memes. This community crypto is making waves through its relatable memes and massive level of engagement.

Another suitable penny crypto is Launchpad XYZ. This all-encompassing Web 3 project is making blockchain tech more palatable for crypto entrants.

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