Penny cryptocurrencies are said to be one of the best alternative types of investments
The cryptocurrency industry is growing at a rapid pace. In the investing world, people know that the best investor is the one who diversifies their portfolio. Even though the crypto industry is only a decade old, novice investors are drawn to it as they see a quick way to earn profits. There have always been a lot of uncertainties in this class of assets. However, this has not deterred Indians from investing in crypto assets. But one should not jump into it unprepared. Do some research about the crypto asset class before diving in. There are thousands of options when it comes to investing in cryptocurrencies. This article features the top ten best penny cryptocurrencies to buy in 2022 and beyond for better gains.
Tether
The list of the top 10 penny cryptocurrencies is incomplete without the most stable-value cryptocurrency. Tether is beneficial for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies. Furthermore, having USDT (as opposed to the USA dollar) removes transaction costs and delays that impair trade execution within the crypto market.
USD Coin
USD Coin (USDC) is a digital stablecoin pegged to the United States dollar and runs on the Ethereum, Stellar, Algorand, Solana, Tron and Hedera Hashgraph system. USD Coin is one of the best penny cryptocurrencies to buy in 2022 and beyond.
XRP
Undoubtedly, this is one of the most popular cryptocurrencies in the market. Ripple is a technology that acts as both a cryptocurrency and a digital payment network. Ryan Fugger and Jed McCaleb founded Ripple, and their angel investor was Chris Larsen. When it comes to investing in cryptocurrencies, XRP is one of the best investment options.
Dogecoin
Next on the list of the top 10 penny cryptocurrencies is Dogecoin. An open-source cryptocurrency started in 2013 by Jackson Palmer and Billy Markus. Dogecoin initially started as a joke based on a popular meme. Creators of Dogecoin envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience.
Shiba Inu
Shiba Inu was created in August 2020, dubbing itself the Dogecoin killer. On 13 May, VitalikButerin donated more than 50 trillion SHIB (worth over US$1 billion at the time) to the India COVID-Crypto Relief Fund. It is one of the best penny cryptocurrencies investment options in 2022 and beyond.
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Binance USD
Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance approved and regulated by the New York State Department of Financial Services (NYDFS). Binance USD strives to be a reliable and efficient marketplace providing access and trading across a healthy variety of crypto assets.
Crypto.com Coin
Crypto.com Coin (CRO) is the native cryptocurrency token of Crypto.com Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading, and financial services company. Crypto.com Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies.
TerraUSD
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community, and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users higher scalability, interest rate accuracy and interchain usage.
Stellar
Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterward, its priorities shifted to helping financial firms connect through blockchain technology.
Dai
DAI is an Ethereum-based stablecoin whose issuance and development are managed by the Maker Protocol and the MakerDAO decentralized autonomous organization. The price of DAI is soft-pegged to the USA dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time a new DAI is minted.
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