Penny cryptocurrencies, like penny stocks, trade for a few pennies or less than $5 per unit. Despite being high-risk ventures, they are inexpensive to invest in due to their small market capitalization.
However, many penny cryptocurrencies have given huge returns in a year. This article will discuss some of the best penny cryptocurrencies that you can invest in May-June 2022.
VeChain is a blockchain-as-a-service platform aimed at businesses using the Internet of Things to fight fraud. It uses IoT to track and offer proof of authentication for goods and services during trading. So, we know that VET is a secure service and has a long-term future in cryptocurrency.
On the other hand, people use technology to keep track of their assets. VeChain’s underlying technology is quite familiar to Ethereum’s. When VET was launched, the penny cryptocurrency was initially part of the Ethereum network before breaking off to build its blockchain.
Validators use the VET token to perform transactions; hence it has a limited supply of 86.7 million. As we know, with limited supply, the price is likely to rise by any means. Whether from the news or natural impact on the cryptocurrency market.
Basic Attention Token (BAT)
The Basic Attention Token (BAT) is an ERC-20 token designed to reward users for paying “attention” toads. BAT partners with Brave Browser, a browser that rewards you for using its search engine. They want to change the advertising industry by focusing on three key areas: publishers, users, and advertisers.
Well, it’s a clever way to promote your cryptocurrency, and it’s sure to increase in value over time. In 2022, it is. However, one of the best penny cryptocurrencies to invest in.
BAT helps share ad revenues among advertisers, publishers, and readers. When using the Brave browser, readers can get paid for watching ads without having their privacy invaded by annoying adverts. Publishers of content can also charge for advertising and publication.
The Singapore-based company Zilliqa uses sharding as a scaling technique to increase the number of transactions per second. To prevent a node from altering a block, each shard is limited to 600 nodes. They also have intelligent contracts programmed in Scilla, its programming language.
It is listed in the top ten because it was the first platform to use sharding, while its competitors are still working on it. This technology is critical for ZIL and the whole cryptocurrency industry.
ZIL is a limited cryptocurrency with a solid fundamental value supported by prominent investors such as Neo Global Capital, One Block Capital, and others. Their current price is $0.105, making today a good time to buy in 2022.
Chilliz is a blockchain platform that includes two additional platforms: socios.com and the tokens of Socios.com is a crowdfunding tool for teams that allows fans to cheer on their favorite teams while also helping in decision-making. This digital currency is specifically designed for sports and entertainment. It has developed a new way for fans to interact with their favorite sports teams.
Their fan tokens are well-known among European football teams and other sporting contests worldwide. As a result, several Fan Tokens have gained popularity on cryptocurrency exchanges, such as Juventus ($JUV), AS Roma ($ASR), Atlético de Madrid ($ATM), and AC Milan ($ACM). Customers can purchase Juventus and AC Milan’s fan tokens.
As a result, if you are a sports fan, it is an excellent platform for you because you can interact with your favorite team while still earning money.
So even though CHZ has suffered a dip as the crypto market has turned bearish towards the end of 2021, certain factors have affected the price of CHZ. But from an investment point of view, it is an excellent time to start your year with good investment crypto. So, Is CHZ a good investment in 2022? It may be worth paying attention to. Of course, always keep in mind to research before investing in cryptocurrency as the market is highly volatile. But it is on our best penny cryptocurrency list now.
Without a doubt, one of the best cryptocurrencies available. Ripple is one of the most popular altcoins on the market right now. The cryptocurrency was established by Ryan Fugger and Jed McCaleb and sponsored by investor Chris Larsen in 2012.
Ripple’s price may have risen above $3 in the past, but it has since fallen below $0.84. However, because it addresses issues about delayed, inefficient, and costly transactions that are now taking place worldwide, it is reasonable to conclude that Ripple is a viable investment option for the future.
Ripple has proliferated in popularity that it now beats Bitcoin in terms of transaction throughput. Ripple has a transaction rate of over 1500 transactions per second and scalability and speed. Stellar has many high-profile partnerships under its belt, including ones with Franklin Templeton, IBM, and Grayscale. It also has low fees, with currency conversions costing only $0.00006 per transaction.
Ravencoin (RVN) is a relatively new penny cryptocurrency that has gained popularity in recent months. The coin was intended to be mintable and is meant to be used as digital certificates of ownership or securities – think of it as an online equivalent of NFTs. The Ravencoin (RVN) blockchain was designed with a specific goal in mind.
On the one hand, it should aid in the accurate determination of asset ownership. Ravencoin, on the other hand, similar to Bitcoin, seeks to enable direct payments. Moreover, it is totally decentralized, as the open-source project on the homepage emphasizes: the project is not backed by master nodes or, more importantly, an ICO.
Ravencoin (RVN) can also be used as a safety or a digital ownership certificate. This makes them look a lot like NFTs, which have many of the same functions. On the other hand, this coin has fewer features and runs on its blockchain. Ravencoin (RVN) primarily focuses on the financial component and has larger financial implementations than the digital art industry (METAVERSE).
The Stellar (XLM) coin was created as a low-cost method of transferring payments between accounts. The logistics, remittance, and borderless money transfer industries have identified broad use cases for Stellar Lumens and its currency XLM. Assets may be transferred securely, quickly, and reliably worldwide using the platform. It’s another fantastic penny cryptocurrency to invest in 2022 since it has some distinct traits that you can’t ignore. Low fees and prompt payments (between 2-5 seconds) are possible with Stellar, and currency conversion costs only $0.00006 per transaction.
It is also energy efficient because it is decentralized, low latency, and scalable. In addition, it employs a proof of stake method.
It has a transaction rate of 1,000 to 5,000 transactions per second, which is far quicker than Ethereum and Bitcoin.
REEF Finance (REEF)
Reef is a low-fee, high-scalability, user-friendly EVM-compatible blockchain for smart contracts. Reef Finance previously offered a Defi platform that allowed customers to access liquidity from centralized and decentralized markets (DEXs).
Users can use a single Defi ecosystem to access multiple blockchain settings and get the most out of their trading. The network uses an automated procedure to locate the most significant yield rates. In addition, the REEF cryptocurrency is utilized for network governance, staking, fee payment, borrowing, lending, and liquidity mining.
Well, REEF comes with a crypto wallet. It allows users to seamlessly stake, acquire, farm, and manage their digital assets. It began in 2019 and will be launched in September 2020 on the Polkadot blockchain. In 2020, it was included in the Binance Launchpool, allowing it to be used on the Binance Smart Chain (BSC).
On the Polkadot blockchain, it is a DeFi protocol. It works as a liquidity aggregator and a yield engine for multiple chains. Users can use any DeFi service available on any of the various platforms supported by Reef without creating separate accounts for each one.
Holochain is a post-blockchain technology and decentralized app development platform that is peer-to-peer and does not suffer from the scalability concerns that plague current Blockchain initiatives. In the year 2022, it’s also the most significant penny cryptocurrency to invest in.
When Holochain got patent approval for its distributed hash table (the rrDHT) in the first half of 2021, it saw a significant jump but failed to get above $0.015. This is because Holochain employs distributed hash tables, which differs significantly from most networks’ present consensus algorithms. This effectively eliminates the need for a consensus algorithm.
Recently, Holochain has seen growing acceptance, with a number of new Holo Chain applications being added to the marketplace (hApps).
The Holochain framework is intended to provide developers with a less expensive and more scalable blockchain alternative. The platform has cheaper costs because of its distributed hash table, does not use traditional consensus procedures, and provides speedy transaction finality (DHT).
QLC Chain (QLC)
Telecommunication businesses are the target of QLC Chain. QLC is a decentralized telecom network built on the NEO blockchain that allows subscribers to share phone minutes, SMS allowances, mobile data, and more. This will enhance the overall user experience while also improving security.
In less than a month after launching its initial coin offering, the company had raised more than $19 million. This has given them enough money to continue developing their platform and keep it running for the near future.
In 2017, the entire structure of QLC Chain was completed to extensively integrate telecom capabilities on a public chain to provide a trustworthy environment for telecom billing, security, and addressing. In 2018, the public chain was launched. The public chain-based network that will underpin the 5G era will enable the convergence of transmission, content recognition, and prompt payment.
This article discussed the best penny cryptocurrencies that you can invest in May-June 2022. However, it is always up to you to invest and what period you are looking to invest.
You always recommend doing your analysis and research before investing, as the cryptocurrency market is highly volatile. For more updates, make sure to sign-up for our newsletter and keep yourself updated in the cryptocurrency world.