10 Best Penny Altcoins to Buy and Hold in 2022 for Immense Growth

19 March 2022

in XLM

Reading Time: 4 mins read

Looking for the best penny altcoins to buy? Here are the top 10 altcoins you can consider

The cryptocurrency industry is growing at a rapid pace. Just like penny stocks, penny altcoins are attracting crypto investors. Despite being high-risk investments because of their small market capitalization, they are cheap to invest in. Altcoins are cryptocurrency coins other than Bitcoins. One of the most popular altcoins is Ethereum but today we are going to talk about penny altcoins to buy and hold in 2022. Remember one thing, you should never jump into this market 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 altcoins to buy in 2022 and beyond for better gains.

Tether

Tether is a stablecoin that creates liquidity for exchange platforms, creates no-cost exit strategies for investors, and adds flexibility and stability to investors’ portfolios. Additionally, Tether can be sent anywhere globally much more quickly and with lower fees compared to transactions of traditional banks and financial institutions.

USD Coin

USD Coin is also a stablecoin pegged to the United States dollar and runs on the Ethereum, Stellar, Algorand, Solana, Tron, and Hedera Hashgraph system. USDC is a great option for traditional investors looking for a low-beta investment that can generate returns better than CDs. It is one of the best penny altcoins to buy and hold in 2022.

XRP

XRP is a cryptocurrency that acts as a bridge currency to other currencies. It does not discriminate between any fiat/cryptocurrency, which makes it easy for any currency to be exchanged for another. Its real-world utility as a less costly and more scalable payment, with transactions happening every three to five seconds, makes it better in terms of intrinsic value versus other cryptos.

Dogecoin

Dogecoin is 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. It is one of the best altcoins to buy in 2022.

Shiba Inu

Another new cryptocurrency to invest in 2022 is Shiba Inu. SHIB burst onto the scene in October 2021 when the coin exploded over 1000% in under a month, thanks to buzz from social media sites such as Reddit. This ‘meme coin’ has a similar feel to Dogecoin because much of its appeal is based on hype.

Binance USD

Binance USD (BUSD) is a new USD-denominated stablecoin approved by the New York State Department of Financial Services (NYDFS) that will be launched in partnership with Paxos and Binance. Binance USD strives to be a reliable and efficient marketplace providing access and trading across a healthy variety of crypto assets.

Decentraland

Decentraland is another of the best new crypto projects this year. Put simply, Decentraland is a virtual world hosted on the blockchain where users can create their own characters and buy in-game plots of land. All items within the game are structured as NFTs, meaning that in-game exploits can be monetized through the marketplace.

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

If you’re looking to buy a cryptocurrency with a great use case, then Stellar is worth considering. Stellar is a distributed payments network operated through Stellar Lumens (XLM), the network’s native crypto. The network allows fast payments to be sent anywhere globally with low fees – regardless of the currency.

Cardano

Although Cardano has had a tough few months, this open-source blockchain network does have excellent prospects. Like Ethereum, Cardano acts as a platform for developers to build dApps and launch smart contracts. However, Cardano’s system is designed by expert academics and with the use of peer-reviewed literature. It is one of the best penny altcoins to buy and hold in 2022.