What is penny cryptocurrency?

As from the word penny it means a monetary value that is small and would only be able to purchase few or little items things referred to as penny maybe coins cause their value are relatively lower than a dollar.

While the word penny cryptocurrency can then be explained to be generally accepted digital currency that is being traded under the value of one dollar, they are said to be relatively cheap coins worth few amounts of currencies.

There are different types of penny cryptocurrecies which are

New cryprocurrencies: they are the one newly released to the market and not yet generally known

Stagnant cryptocurrencies: they are pennies that have been in market for long and the price dosent flunctuate at all

Crashing cryptocurrencies: they are crypto that use to worth a lot but had a fall in price due to shift in the market price

Advantages of penny cryptocurrency

They are said to be unpredictable in creating either large or low profit due to the investors influence

Unimaginable return on investment could also be earned from little investment deposited

They could increase within a short period of time or at a later Time of years range

Disadvantages of penny cryptocurrency

It is very hard to get buyers for such penny coin because the worth seems like loss

The rate of trading charges for the penny coin might also discourage the buyers

Trading penny coins demands an high level of risk tolerance

Which Penny Coin will I invest in

As for me, I would love to invest in a penny coin called Doge coin it was created by a software engineers called billy Marcus and Jackson Palmer who created this form of payment as a joke which was created in the late year 2013 and because the world richest man the TESLA CEO Elon musk is trying to invest in Doge coin to be used as a currency being spent in mars by creating a plant to manufacture

Dogecoin token on the moon and when he puts his investment there the rate of this penny coin will increase at a very boosting and increasing rate that would yield more then expected returns on investment then the bitcoin because the coin will be spent and used in the outer space by calibers of the richest men in the world
Below is a current chart that shows also the price of dodge coin as at 20th of May

Ripple (XRP) Analysis

XRP is a cryptocurrency which motive is to reduce the charges of money transfer between financial institutions and also increase it speed. In XRP ledger,XRP is a native token which is usually ignited by peer-to-peer network.

If the ripple coin can break out and maintain a balance this those around, or try overcome the SEC case or rather have it reduced or settled it could be regarded as an end for the race of ripple.

Cryptocurrencies are circular and each sections are repeating patterns called fractals.

and if the fractual pattern continues ripple might advance as high as $160 per token for short-term but within the range of 2022 to 2023 it could act as a peak to the latest big and strong market meaning another cycle can begin.

I would invest knowing the possibilities that it would yield more bonus in returns on investment on the long run investing an high stake at a time like this is recommended

Possible investment of 5 penny crypto assets

1 Reserve Rights(RSR):- this is a stablecoin which is use on the blockchain of Ethereum. It's a good digitalized currency for market stability because it has a low volatility and it has asset collateral.

RSR has the back up of prestigious venture capitalist like Coinbase Ventures and the Peter Thiel and Sam Altman investors venture. It possess a current market value of $1.17B and also a 24-hour trading capacity of $203B. Tho, RSR is an unproven project and relatively young.

2 Stellar Lumen (XLM):- this is the one of the well known penny cryptocurrency since 2004. The need for equity access to the global financial system led to it creation. Stellar Lumen is controlled by Stellar Development Foundation which is an nonprofit oriented organization which used XLM blockchain.

Tho it significant value has been lost since 2018 when it was high,still, it is well known penny cryptocurrency,it current market value is $14.73B with a 24-hour trading of $6.1B.

3 Ravencoin (RVN):- this can be seen as a bitcoin fork which was established in 2018 which the main purpose for it creation was to make the determination of asset owner flaw-free and also hoping to become a payment currency giving cheap,safe and fast transactions.

Thus asset has experienced management with a current market value of $3.77B and 24-hour trading of $260M.

4 VeChain Thor (VET):- this blockchain is created to assist in finding solutions to present problems in the economy. It has it current market value to be $9.1B and daily trading of $2.3B

5 Pundi X (NPXS):- this is an asset in penny cryptocurrency is a transaction system which is accepted by small and medium merchants. Pundi X enables transaction in a tap-to-tap easy system with the use of cryptocurrencies.

This has a unique transaction in which buyers and sellers makes use of the cryptocurrencies they own for different transactions. Pundi X exist on NPXS blockchain which enables topping up cards by users with the existing crypto-coin. Pundi X has a market value of $2.1B

Conclusion

Conclusion:- there are penny cryptocurrency that will grow wildly in the future. Investing in them will be a great idea which will gives the investors a higher profit or return on investment at a later date.

With the market study, I decided to invest in Stellar which was $0.41 as of the current price.

But this was the step I took below.

(1).

I head to the trading page and good for me and check to study at the coin. I see that the coin was dipping so it is a right time to buy

(2).

The next thing I do is to start buying it. I then decide to buy the 25 pieces of stellar with my available bitcoin to carry out this assignment.

(3)

After buying it, it is now in my portfolio which I can now say it is part of my investment plan and portfolio assets

@pelon53