Best Penny Cryptocurrencies to Invest In

Along with the highly-priced cryptocurrencies the market is filled with thousands of crypto tokens that are valued at less than $5, or even just a few cents. These cryptocurrencies are known as penny cryptos and are preferred by many types of investor. First and foremost, they are quite affordable. You can buy a large holding of penny cryptos by investing as little as $100 and potentially generate high returns once their value increases. 

But before that, you need to explore the market and find out the most promising penny cryptocurrencies that have huge potential for growth. It is crucial to have a clue about what you are investing in and whether it is worth buying not to end up losing your capital in the long run. To help you in the research stage we have reviewed the best penny cryptocurrencies to buy this year and provided detailed reviews on each.

Read on to find out which penny cryptocurrency or cryptocurrencies attract you best. You will also discover the best platforms to invest in penny cryptocurrencies and a complete guide explaining how to buy cryptocurrency for pennies online step by step.

Best Penny Cryptos to Buy in 2024

If you do not want to go too much into details and seek the quick list of the best penny cryptocurrencies below we have provided a short list of the top penny cryptocurrencies to buy right now. You have a versatile selection as the list includes various projects from meme cryptocurrencies to blockchain gaming platforms and DeFi problem-solving technologies. 

Top Penny Cryptos to Buy Reviewed – Full List

If you are a newbie in the cryptocurrency market, you may be confused about discovering thousands of digital assets that you can invest in. However, most of these cryptocurrencies are speculative, meaning they involve high risks, can be quite speculative, and can crash quickly after trending for a particular period. 

Hence, you need to carefully explore the cryptocurrencies you are going to purchase to make sure they have the potential for future growth and can bring you high rewards. In this section, we have reviewed the most popular penny cryptocurrencies that have excellent potential to increase value in the near future. Read on to find out which one attracts you most and best suits your expectations.

The Graph – Invest in Penny Cryptocurrency that Struggles to Improve Data Retrieval

The Graph (GRT) is another fascinating cryptocurrency project that you can invest in if you are looking for a penny cryptocurrency. It is a DeFi project founded in 2018 by Yaniv Tal, Jannis Pohlmann, and Brandon Ramirez. Originally launched on the Ethereum blockchain, Graph Coin has a goal referring to upgrading the blockchain technology. Its main goal is to contribute to the information retrieval of the blockchains which significantly influences the efficiency of the decentralized apps built on that blockchain.

The Graph Coin project issues a native utility token to power its ecosystem and manage the network. As the technology works through processing and storing the data from various blockchains with an aim of further retrieval, it goes through multiple processes. All the processes are managed by different network participants who are called indexers, curators, and delegators. Anyone who wants to become an indexer, a curator or a delegator must first of all stake GRT tokens. All the stakers are rewarded from the network fees for the job they have done. 

The Graph Coin project is quite popular within the DeFi industry. It is used by such popular DeFi projects as Aave, Curve, and Uniswap. Its native coin was officially released in October 2020 and managed to raise $10 million in the capital during the ICO stage. Before the public sale, GRT also raised $19.5 million in capital from the private sale. GRT is currently included among the 100 largest crypto assets by its market capitalization. 

1Inch – Promising Penny Crypto that Improves User-experience with DEX Platforms

1Inch Protocol is another popular cryptocurrency and another coin to buy under a penny. It is designed to improve the decentralized exchange industry and contribute to the way people execute a trade through DEXs. The decentralized exchange industry is growing rapidly with more and more projects springing up in the market. 

The difference between DEXs and CEXs is that DEXs allow users to trade without providing too much personal data and without going through the verification stages. It also makes the process quite faster – you do not need to register for an account providing the necessary details about your identity, payment method, etc. What you are required to do is to link your digital wallet to the platform and start trading. Centralized exchanges require you to verify your account so that they can keep your account safe. However, DEXs work through blockchain which makes them quite secure without any need for verification.

But the problem with these exchanges is that cryptocurrencies are traded at different prices on different exchanges. Additionally, transaction fees also vary greatly from platform to platform which makes it hard to identify which platform offers the best trading experience. The 1Inch protocol is designed to solve this issue by monitoring the whole market and pointing out the best prices and transaction fees for the users. 

The protocol was founded in 2019 by Surjey Kunz and Anton Bukov who have experience as engineers and developers in different startups. In December 2020 they managed to raise $12 million in capital from two funding companies. The group officially launched the project’s native token, 1INCH in late December during which it also airdropped 1INCH tokens to those wallets who have interacted with the 1Inch platform. The circulating supply of the 1INCH cryptocurrency is 571.6 million 1INCH tokens and it is the 86th largest crypto by market cap.

Myro – Solana Memecoin Named After the Founder’s Dog

Solana projects have all started seeing considerable increase in demand, since the blockchain grew in popularity and value in the last couple of months.

The project has already managed to garner the attention of multiple media channels and YouTube pages, despite being a new project, thanks to its popularity within the Solana chain. It is one of the biggest projects in the blockchain right now and is expected to gain more fame, and ultimately, some more utility elements.

At the time of writing, one can expect to gain passive income on the token by staking MYRO, while the project also boasts a buyback bot which contributes to the growth of the ecosystem.

The project managed to rise by more than 10x within a span of just 2 months, which is why the attention of the wider crypto community quickly fell onto the project. Myro is a memecoin created based on the name of Solana founder’s dog, Myro, which is another reason why the project gained much fame within a short time span.

dogwifhat – Popular Penny Memecoin Amassing a Massive Social Media Following

Within a short period of launch, some memecoins manage to garner major media attention and huge social media communities. This is the case with dogwifhat too, which quickly rose to prominence as a top choice among memecoin enthusiasts, despite not having any apparent utility. The project has been launched barely a couple of weeks ago and is currently among the top memecoins both in terms of market cap and trending ones.

The project’s website simply has some random text about the token being among the best investment options to consider. It has already made it to several popular websites while amassing a massive social media following. While such projects may or may not survive in the long term, they can be great additions for short-term investors, and as a penny crypto, the project’s native token WIF becomes an ideal option. It is priced at $0.28 and is a token that can be acquired in decent quantities by all types of investors.

With a likely pump speculated by many and a growing community, this penny token is definitely one that investors may not want to overlook in these volatile market conditions.

Flockerz (FLOCK) – Penny Crypto With Massive Growth Potential

Flockerz is quickly gaining traction in the crypto space as a penny crypto, offering investors a chance to get involved at an early stage for just $0.00567 per token. Currently in its presale phase, Flockerz has already raised over $360,000 in less than two weeks, which speaks to the community’s growing interest in this low-cost yet ambitious project. Priced below a cent, it provides an excellent entry point for those looking to invest in a high-potential project without a significant upfront cost.

Flockerz brings a lot more to the table than just an attractive price. The project revolves around a unique storyline involving “King birb” and the transformation of Flocktopia from a centralized to a community-led governance model. This comic-style narrative is more than just a fun touch—it embodies Flockerz’s commitment to decentralization, giving holders a stake in the project’s future direction.

To further enhance its value, Flockerz offers an impressive staking mechanism, with an APY of 7000% available for early participants. These high rewards are a major incentive for investors, making early involvement highly beneficial. Staking not only offers attractive returns but also helps stabilize the ecosystem by encouraging long-term participation and commitment from holders.

Flockerz also benefits from being built on both Ethereum and Binance Smart Chain, combining robust security with lower transaction fees. This dual-chain approach ensures that the project appeals to a wide range of users—those seeking the strength of Ethereum as well as those preferring cost-effective transactions on Binance Smart Chain. It offers both an affordable entry point and multiple incentives to stay involved, positioning it as a strong contender in the current market.

Wall Street Pepe (WEPE) – Penny Crypto Inspired by Pepe

At the low price point of only $0.0002, Wall Street Pepe stands out as one of the best penny cryptocurrencies to invest in this year. This penny crypto encapsulates the quintessential traits of a meme coin, drawing indirect inspiration from the legendary Pepe. With its unique mix of relatable imagery and practical use cases, Wall Street Pepe appeals directly to the heart of degens, making it an exciting option in the crypto space.

Wall Street Pepe’s imagery is a key part of its charm. The token features a Pepe dressed in a shirt, pants, and a tie, portraying the everyday struggles of a regular person. This design connects with individuals who dream of achieving success despite life’s challenges. The relatability of this mascot gives Wall Street Pepe the potential to resonate across diverse audiences, elevating its appeal as a meme coin with massive growth potential.

The token’s use cases add further depth to its value. Wall Street Pepe offers access to an exclusive community, the WEPE Army, where collaboration and shared knowledge help traders improve and evolve in the crypto space. Staking, a common feature among meme coins, is also available, allowing holders to earn passive income. What sets Wall Street Pepe apart is its trading rewards and alpha features, which provide market insights, strategies, and signals. These unique offerings make it more than just a meme coin—it’s a tool for navigating the crypto market effectively.

These factors collectively position Wall Street Pepe to achieve substantial growth, especially on social media, where its relatable design and engaging utilities can fuel viral success. As crypto market conditions improve in the wake of the recent presidential elections, this increased visibility could translate into real-world value, propelling Wall Street Pepe to new heights.

While Wall Street Pepe shows massive potential, uncertainty remains about how it will evolve in the long term. However, its mix of relatability, utility, and market appeal offers many intriguing aspects to keep investors interested.

Fetch.ai – Excellent Penny Cryptocurrency with Focus on Real-Life Issues

Fetch.ai is one of the best penny cryptocurrencies to buy as it brings AI and machine learning innovative solutions into the digital economy. Founded by three software developers in 2017, Fetch.ai aims to contribute to the growth of the decentralized digital economy by incorporating AI agents. The team includes Humayan Sheikh, Thomas Hein, and Toby Simpson who managed to attract several investors and raise $26 million from them. In 2019 the team also launched its FET token and raised $6 million through the Initial Coin Offering.

Fetch.ai introduces exciting features into the digital economy and tries to solve a lot of real-world problems through its innovative agents and machine learning solutions. One of the fields that the project touches on is traveling. Agents create direct communication between the consumers and providers thus reducing the role of the intermediary between them. In its turn, this system reduces the extra costs charged for the services by third parties. 

Other important problems that Fetch.ai agents solve are the ones related to traffic and parking. Fetch.ai agents work to make mobility and transportation efficient. For instance, when you enter a city, the agent can get in touch with other agents and find out the nearest parking locations next to your destination. Moreover, it can book the parking area for you before you arrive at that place. Fetch.ai innovative solutions are also applied to such arrears as digitized trading, parties working together, such as doctors and patients, etc. 

To manage its ecosystem, Fetch.ai has a native utility token that benefits the network in multiple ways. People can use it for managing autonomous economic agents, and stake to generate rewards and conduct transactions. Fetch.ai has a  maximum supply of 1,152,997,575 FET coins. 60% of the FET coins are already circulating with a value of $0.09 per coin. 

Update – since writing this post the FET price has exploded to over $0.25, one of the best performing crypto assets in early 2024 as the AI crypto narrative began to trend.

Best Wallet Token (BEST) – Penny Crypto with Many Upsides

Most penny cryptos are often meme coins that don’t offer any use case. However, Best Wallet Token is a penny crypto this year that’s full of perks that could have long-term implications for the entire crypto space.

First, this token powers the Best Wallet, a versatile blockchain wallet that can aggregate all major software wallets at one place. This versatility is only matched by its features, which consist of portfolio management, staking perks, and even access to high-profile presales before they enter the public domain.

As an ERC-20 asset, this token is also accessible, with a price that won’t go beyond the $0.0025 mark throughout the course of its presale, it is one of the best penny cryptos to buy this year.

With Best Wallet Token, all the features available on the wallet will be enhanced to the nth degree. Users will have access to more investment opportunities, higher staking rewards, and less fees, all the while engaging with the crypto community in a whole new way.

Best Wallet Token, or BEST, is an asset that could help investors understand the crypto market better as well, as despite not being a meme coin, this project is community-centric.

AMP Coin – Buy Penny Cryptocurrency that Aims to Speed up the Transaction Confirmation

Amp is an Ethereum-blockchain-based project that was released in 2020. It is a digital collateral token that aims to make faster and more secure transactions possible. To understand how important the role of such projects is in the DeFi industry, you need to be familiar with one of the biggest problems of blockchain. 

The dilemma of the transaction confirmation suggests that you need to sacrifice either security or scalability on the decentralized ledger. When the amount of the transactions increase more time is needed to verify transactions which is not always practical, especially for daily life. For faster transactions, users must pay high gas fees to have their transactions verified sooner. Amp is designed to make instant secure and irreversible transactions possible. 

Amp is also open-source and decentralized. It has a native token – the AMP coin which can be sent received and staked to earn rewards. The maximum supply of the Amp cryptocurrency is over 92 billion AMP tokens 45% of which are already circulating. It has a daily trading volume of $4.5 million and quite high rates on market capitalization tables. At the time of writing it is the 104th largest cryptocurrency with a market cap of $350.7 million. 

What are Penny Cryptos?

Penny cryptocurrencies are quite popular among investors who do not have too much money to spend on trading. They prefer penny cryptos as they have low value and can bring high returns once their trade is successful. There is not a single consensus about the definition of such cryptocurrencies. Usually, penny cryptocurrencies are called crypto assets that cost less than $1. However, according to another definition, cryptos worth less than $5 can also be considered penny cryptos. 

What makes penny cryptocurrencies so attractive is their low prices which can bring you plenty of rewards even with a little fluctuation. But meanwhile, penny cryptocurrencies can be quite risky especially when you invest in speculative crypto assets. It means that before investing in such cryptocurrencies, you need to carefully examine to make sure if the crypto has room for growth.

Reasons to Invest in Penny Cryptocurrencies

There are multiple reasons why investors and traders prefer penny cryptocurrencies. Here are some of the most popular ones. 

They are Affordable

The eye-striking advantage of investing in penny cryptocurrencies is that they are quite cheap. If you do not have too much money but you want to challenge yourself in trading, penny cryptocurrencies give you this opportunity. By selecting a cryptocurrency broker that does not require too much deposit or trading fees, you can buy a huge amount of crypto for as low as $100. 

You Have Huge Potential Returns

Besides being very affordable, penny cryptocurrencies also can bring you high returns once they get successful. It is because they are quite cheap and their price fluctuations can be extremely high. Obviously, it is more difficult for a significantly valuable crypto asset, such as Bitcoin, to double its value than for a cryptocurrency worth $0.002. 

Easy to Get Started

Investing in penny cryptocurrencies can be an excellent way to start your trading career as you can begin with as lows as $20-$50. For instance, to buy a cryptocurrency on one of the leading crypto brokers, eToro, you need a maximum deposit of $10. Additionally, the minimum amount required by eToro to buy crypto is $10. Hence, you can buy the most popular ERC-20 tokens for as low as $20. 

A Great Way to Diversify Your Portfolio

And most importantly, you have an excellent opportunity to build a versatile portfolio. The fact that penny cryptocurrencies are cheap enables you to buy different assets with little money. In this case, you can also manage the risks of losing your capital by investing in different cryptos. So, if any of your investments fail, you secure yourself with investments in other assets that can gather value and bring you income. 

Where to Buy and Trade Penny Cryptocurrencies?

If you plan to buy penny cryptocurrencies, you will definitely need a cryptocurrency broker with which you can open an account and buy crypto assets. But once you start looking for a good crypto broker to start trading, you will find hundreds of options and it may become a daunting process for you to decide which one is the best. If you are a beginner in the field, we would recommend you to start with eToro which is a leading brokerage platform that stands out with multiple excellent features. 

Along with a number of other assets, eToro supports trading, buying, and selling cryptocurrencies on its platform. It offers quite a versatile selection of cryptocurrencies and you can trade over 80 digital assets with eToro. The list includes the most trending and popular cryptocurrencies, such as Bitcoin, Ethereum, Cardano, Aave, Dogecoin, and a number of penny cryptocurrencies from our recommendation list, such as Fetch.ai, AMP token, Graph coin, etc. Moreover, eToro adds new cryptocurrencies to its list frequently, and you also have the chance to diversify your portfolio with new coins and tokens. 

Perhaps, the most significant feature of eToro that appeals to beginners is its super competitive pricing structure. As for trading fees, you only have to spend a 1% trading fee to buy or sell any altcoin which is added to its market fee. There are not any other hidden fees included, nor does it charge rollover, ticket, or management fees for your account. eToro is also pretty efficient when it comes to non-trading fees. The broker only charges a 5$ withdrawal fee for any payment method you choose. 

By signing up for an account on eToro, you will discover a combination of top-notch features for beginners. It has a very friendly user interface and an exceptional social trading platform through which you can communicate with other traders, discuss trending topics, investment opportunities, etc. Moreover, eToro allows you to copy the trades and portfolios of expert traders through its social trading tools. 

eToro also has separate pages dedicated to each cryptocurrency you search. Once you search the coin, you can navigate between multiple sections to learn news and read analyses about that crypto. If you like mobile trading, the broker also provides a mobile app that is available to install on iOS and Android operating systems. 

The broker is also popular with its high reputation. It has millions of users from over 100 countries of the world which makes it one of the most widely-used brokers in the industry. One of the reasons why so many people choose eToro is its highly secure trading platform. The broker is extensively regulated and licensed by such top-tier companies as FCA, CySEC, ASIC, SEC, and FINRA. The broker also applies quite efficient security systems to protect your account and prevent any fraud that can threaten your safety.

See our full eToro review.

How to Buy Penny Cryptocurrencies Step by Step with eToro

Now when you are familiar with the best penny cryptocurrencies to buy in 2024 and the best cryptocurrency broker to trade with you may be curious about how to start investing in penny cryptos. To walk you through the whole process we have prepared a complete guide that explains everything in detail with eToro. 

Update 2024 – Going forward, the only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.

Sign up for an Online Account with eToro

If you do not have a brokerage account your first step must be to open one. Visit eToro.com and open a free account. eToro requires that you fill in some details about your identity, including name, surname, date of birth, etc. Also, you will need to provide your email and phone number to go through the first verification stages. 

Verify Your Account and Deposit Funds

Once you have registered your account, you will need to verify it as long as eToro is a regulated broker and does not allow you to start trading without verification. However, the verification is quite easy and you will go through fast if you provide the right documentation. As eToro requires an address and identity verification, you must provide a proof of identity, such as a passport or an ID, and proof of address, such as a bank document or a utility bill.

When your account is fully verified and you are allowed to trade, you can finally deposit money on it. To buy cryptocurrencies, eToro requires a very low minimum ($10) and you can buy it by investing as low as $10. eToro supports multiple payment methods, hence you can deposit funds through bank cards, wire transfers, or an e-wallet. 

Search Penny Cryptocurrency You Want to Buy

Once you have a verified and funded account, you can start investing in penny cryptos. But first of all, you need to select what crypto you want to buy. Search the name of the coin in the search toolbar and click on the first results. eToro will lead you to the crypto’s separate page where you can explore it, read the news about it, and use its graphs and charts that can make you make a final decision.

Buy Penny Cryptocurrency

Once you have decided to buy the crypto, click on the Trade button which you will find on the above-left part of the website. On the buy window, fill in the details about your trade, including the number of coins you want to buy. Make sure you have filled everything correctly and finalize the transaction to get the coins on your exchange wallet. 

Where to Trade Penny Crypto Coins?

Penny cryptocurrencies can also motivate you to short-trading as long as their price fluctuations can bring high returns in the short term. But to have an efficient trading experience, you should find a good brokerage platform that will cooperate fast and offer low transaction fees and spreads. Below we have introduced a list of the best cryptocurrency brokers that we have selected, examining the market. 

• eToro
• Binance
• OKX

Conclusion

Penny cryptocurrencies are an excellent choice to invest in especially when you are a beginner in trading and want to start with a little money. In this guide, we have introduced the best penny cryptocurrencies to buy in 2024 and described their projects in detail. Our most recommended penny cryptocurrency to buy in 2024 is Wall Street Pepe, which is expected to raise and can generate high returns.

To buy penny cryptocurrencies, you will need to open a brokerage account on a cryptocurrency exchange and verify it. For beginners, we recommend trading with eToro which is an excellent platform with a super easy user interface and low trading fees. Additionally, eToro supports some of the penny cryptocurrencies included in our top list, other than those yet to have their initial exchange offering. 

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