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15 Best Penny Cryptocurrencies To Invest In April 2024

33 mins
Updated by Maria Petrova
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Buying low and selling high is the dream for most crypto enthusiasts. This guide dives into the best under-$1 gems that have the potential to skyrocket during a bull run. Here’s a rundown of the 15 best penny cryptocurrencies to invest in based on market capitalization, each offering solid potential for growth.

Where to buy, trade, and store penny cryptocurrencies?

Where to buy

Where to buy
Buy now
Trading volume $5.7 billion
Bid-ask spread 0.02%
Trading fee 0.05% to 0.60%
Payment method Crypto, Bank transfer, Bank card

Where to trade

Where to trade
Trade now
Trading volume $2.2 billion
Cryptocurrenies 742
Trading fee up to 0.10%
Payment method Crypto, Bank transfer, Bank card

Where to store

Where to store
Store now
Blockchains supported Ethereum & 10+
Integrated DEX Yes
Payment method Crypto, 3rd parties (Bank transfer, Bank card)

Our methodology for choosing where to buy, trade, and store the best penny cryptocurrencies

Best penny cryptocurrencies to invest in April 2024

1. Tron (TRX)

Price: $0.103
Market cap: $9.14 billion
Where to buy
KuCoin
Where to trade
OKX
Where to store
YouHodler

2. The Graph (GRT)

Price: $0.1591
Market cap: $1.49 billion
Where to buy
OKX
Where to trade
Kraken
Where to store
Coinbase Wallet

3. Floki Inu (FLOKI)

Price: $0.00002884
Market cap: $275.86 million
Where to buy
OKX
Where to trade
KuCoin
Where to store
Coinbase Wallet

4. Shiba Inu (SHIB)

Price: $0.000009363
Market cap: $5.52 billion
Where to buy
OKX
Where to trade
KuCoin
Where to store
Coinbase Wallet

5. Fetch.ai (FET)

Price: $0.6424
Market cap: $532 million
Where to buy
Coinbase
Where to trade
Bybit
Where to store
Coinbase Wallet

6. Stellar (XLM)

Price: $0.1167
Market cap: $3.2 billion
Where to buy
Coinbase
Where to trade
KuCoin
Where to store
YouHodler

7. Harmony (ONE)

Price: $0.01559
Market cap: $214 million
Where to buy
Kraken
Where to trade
OKX
Where to store
MetaMask

8. Zilliqa (ZIL)

Price: $0.02102
Market cap: $365 million
Where to buy
OKX
Where to trade
Kraken
Where to store
Coinbase Wallet

9. Holo (HOT)

Price: $0.002039
Market cap: $352 million
Where to buy
KuCoin
Where to trade
OKX
Where to store
MetaMask

10. Ravencoin (RVN)

Price: $0.02171
Market cap: $291 million
Where to buy
Coinbase
Where to trade
KuCoin
Where to store
OKX Wallet

11.Ankr (ANKR)

Price: $0.02672
Market cap: $267 million
Where to buy
OKX
Where to trade
Kraken
Where to store
MetaMask

12. Proton (XPR)

Price: $0.0009683
Market cap: $24 million
Where to buy
OKX
Where to trade
KuCoin
Where to store
Coinbase Wallet

13. BitTorrent (BTT)

Price: $0.000001124
Market cap: $1.09 billion
Where to buy
KuCoin
Where to trade
OKX
Where to store
Coinbase Wallet

14. Amp (AMP)

Price: $0.003533
Market cap: $149 million
Where to buy
Coinbase
Where to trade
Kraken
Where to store
Coinbase Wallet

15. 1inch Network (1INCH)

Price: $0.505
Market cap: $570 million
Where to buy
Kraken
Where to trade
OKX
Where to store
MetaMask wallet

*Market capitalizations are based on data from CoinMarketCap as of 14:00 UTC, Jan. 10, 2024. 

What are penny cryptocurrencies?

Penny cryptocurrencies are generally defined as cryptocurrencies that are priced below $1. However, there isn’t a universally accepted definition, and some people consider tokens under $5 to also be “penny cryptocurrencies.”

The challenge with this classification is that it includes a wide range of cryptocurrencies, from highly valuable ones to lesser-known options. In fact, several of the world’s top 20 cryptocurrencies are priced under $1, highlighting that price alone doesn’t always reflect a cryptocurrency’s market position or potential.

When searching for the best penny cryptocurrencies, one could consider:

  • Cryptocurrencies priced under $1.
  • Cryptocurrencies valued around a penny, which could range from fractions of a cent to approximately $0.10.
  • Cryptocurrencies under $1 that are not ranked within the top 100, 500, or 1,000 in terms of market capitalization.

Our list of penny cryptocurrencies encompasses a variety of these categories. It’s important to remember that investing in cryptocurrencies can be risky, especially with smaller or lesser-known cryptocurrencies. There’s a heightened risk of losing your investment, and these smaller cryptos may not be readily available on the largest cryptocurrency exchanges.

How many penny crypto coins are there?

Given the volatile nature of cryptocurrencies, the exact number of penny cryptocurrencies is not fixed and changes frequently. New cryptocurrencies are constantly being created and launched, while existing ones may fluctuate in price, moving in and out of the “penny cryptocurrency” category. 

For the most up-to-date information, it’s recommended to refer to a crypto markets tracking website. Choose CoinMarketCap, CoinGecko, or any other reputable platform that lists and updates the prices and market caps of cryptocurrencies in real-time.

Factors influencing penny cryptocurrency prices

Penny cryptocurrency prices are influenced by several key factors, similar to other financial assets, but with unique aspects specific to the crypto market. 

Here are the factors that influence the prices of penny cryptocurrency:

  • Market demand and supply: The basic economic principle of demand and supply plays a significant role. If more people want to buy a cryptocurrency (high demand) than sell it (low supply), the price will typically go up. Conversely, if more people want to sell a cryptocurrency (high supply) than buy it (low demand), the price tends to fall.
  • Market sentiment: Investor sentiment, driven by news, social media, and overall market trends, can greatly impact the price. Positive news can lead to price increases, while negative news can result in declines.
  • Trading volume: High trading volumes can indicate strong interest in a cryptocurrency, potentially leading to price increases. Conversely, low trading volumes might suggest a lack of interest, possibly leading to a price drop.
  • Adoption and utility: If a penny cryptocurrency sees increasing use and adoption for its intended purpose, such as in transactions or in decentralized applications, its value can rise.
  • Speculation: Many penny cryptocurrencies are subject to speculation. Traders might invest based on future potential rather than current use, driving prices up or down.
  • Technological developments and updates: Advances in technology, updates, and improvements to a cryptocurrency’s network or protocol can lead to price changes.
  • Regulatory news: Cryptocurrency markets are sensitive to regulatory news. Regulations can either legitimize a particular crypto ore platform — leading to price increases — or create market uncertainty, resulting in price decreases.
  • External market factors: Broader economic factors and movements in traditional financial markets can influence cryptocurrency prices.

What to consider when choosing penny cryptocurrencies?

Here are the main aspects to consider when choosing a penny crypto to invest in:

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  • Market capitalization and liquidity: Look at the market cap to understand the cryptocurrency’s size and stability. A higher market cap often indicates more stability. Liquidity is crucial for buying and selling without significantly affecting the price.
  • Project fundamentals: Assess the underlying project. Does it have a clear purpose? Is the technology sound and innovative? A strong project foundation can indicate long-term viability.
  • Development team and community support: Research the team behind the cryptocurrency. Experienced and reputable developers can boost confidence. A strong, active community can indicate a healthy project.
  • Adoption and real-world use: Consider if the cryptocurrency has real-world applications and adoption. Tokens with practical use cases are more likely to succeed.
  • Volatility and price history: Penny cryptocurrencies can be highly volatile. Review their price history to understand past performance and potential future trends.
  • Regulatory environment: Stay informed about the regulatory climate for cryptocurrencies, as changes can significantly impact prices.
  • Technology and security: Ensure the cryptocurrency uses robust and secure technology, especially if it’s a newer or less tested project.
  • Risk assessment: Be aware of the risks, including the possibility of losing your entire investment. Penny cryptocurrencies can be more speculative and risky compared to more established coins.
  • Diversification: Diversifying your crypto portfolio can help manage risk. Don’t put all your funds into a single penny cryptocurrency.
  • News and developments: Stay updated with news and developments related to the cryptocurrencies you are interested in, as this can impact their prices and long-term viability.

By taking these factors into account, you can make more informed decisions in your penny crypto investments, similar to how you would approach investing in top cryptocurrencies.

Reasons to invest in penny cryptocurrencies

Investing in penny cryptocurrencies can offer several potential benefits, making them an attractive option for certain investors. Here are the main reasons you would be inclined to invest in penny cryptocurrencies:

  • High growth potential: Penny cryptocurrencies often have a lower market cap, offering a higher growth potential compared to more established cryptocurrencies. Small increases in price can lead to significant percentage gains.
  • Affordability: Their low price per token makes them accessible to a wide range of investors, allowing for diversification even with a smaller investment budget.
  • Early entry advantage: Investing in a promising project at its early stages can yield substantial returns if the project succeeds and gains mainstream popularity.
  • Innovation and niche projects: Many penny cryptocurrencies are at the forefront of technological innovation, offering unique solutions to specific problems, which could lead to substantial future demand.
  • Speculative gains: For those looking to speculate on short-term price movements, penny cryptocurrencies can offer exciting opportunities due to their high volatility.
  • Community and developer engagement: Some penny cryptocurrencies have strong communities and dedicated developers, which can drive the project’s success and, in turn, increase the value of the token.
  • Exploring emerging trends. Penny cryptocurrencies often align with emerging trends in the crypto space, such as DeFi, NFTs, and blockchain gaming, providing exposure to these new areas.

Risks of investing in penny cryptocurrencies

Potential investors should approach penny cryptocurrencies with caution and conduct thorough research before investing. Therefore, it’s crucial to balance these reasons with the risks involved:

  • Market volatility: Penny cryptocurrencies can be extremely volatile, with prices subject to dramatic fluctuations.
  • Lack of information: Some projects may lack transparency, making it difficult to conduct thorough research.
  • Higher risk of failure: Smaller or less established projects face a higher risk of failure.
  • Liquidity issues: Some penny cryptocurrencies may have low liquidity, making them difficult to sell at the desired price.
  • Regulatory uncertainty: The regulatory environment for cryptocurrencies is still evolving, which could impact these investments.

Strategies for identifying top penny cryptocurrencies

Finding the best penny cryptocurrencies to invest in requires a strategic approach, combining thorough research and careful analysis. 

Here are some key steps to help in this process:

  • Research: Start with extensive research. Look into the project’s whitepaper, the team behind the cryptocurrency, their track record, and the problem they aim to solve.
  • Evaluate market capitalization: Consider the market capitalization of the cryptocurrency. A lower market cap might offer higher growth potential, but it also comes with increased risk.
  • Analyze historical price data: Review the historical price performance to understand its volatility and market trends. This can provide insights into its future potential.
  • Assess the technology and use cases: Evaluate the underlying technology and its real-world application. A strong, unique use case can be a good indicator of potential success.
  • Check community and developer activity: A vibrant and active community, along with regular updates from developers, can indicate a healthy and growing project.
  • Monitor latest news and developments: Stay updated with the latest news and developments in the crypto world, as they can significantly impact penny cryptocurrency prices.
  • Liquidity analysis: Ensure the cryptocurrency has sufficient liquidity on exchanges, which is crucial for buying and selling without affecting the price too much.

Are penny cryptos safe?

Penny cryptocurrencies, like all investments, carry a mix of risks and potential rewards. Their safety largely depends on various factors, such as market volatility, liquidity, and the legitimacy of the project. Monitoring tools like the crypto fear and greed index can offer valuable insights into the market’s emotional temperature, aiding in understanding these risks.

Penny cryptocurrencies can offer significant returns but are associated with higher risks. They should be approached with caution, and investments should be based on thorough research. One key aspect of any of these crypto projects is the community supporting them. A strong community and active development team can indicate a healthier and more promising project. Always aim to diversify your crypto investments and be mindful of crypto scams.

Top penny cryptos compared

CryptocurrencyTickerLaunch YearProject descriptionMarket cap
tronTRX2017User-friendly approach and support for decentralized applications (dApps) and smart contracts.$9.14 billion
The GraphGRt2018A decentralized protocol for indexing and querying data from blockchains, starting with Ethereum.$1.49 billion
FlokiFLOKI2021Memecoin inspired by Elon Musk’s pet, focusing on community and charitable projects.$275.86M
Shiba InuSHIB2020Dogecoin-inspired memecoin with a vibrant community, also aims to develop an ecosystem including a DEX called ShibaSwap.$5.52 billion
Fetch.aiFET2019AI-driven blockchain for complex problem-solving, including optimization and machine learning tasks.532 million
StellarXLM2014Platform for facilitating cross-border transactions, aiming to link banks, payment systems, and individuals.$3,29 billion
HarmonyONE2019Focuses on scalability and speed for decentralized applications using sharding technology.$214 million
ZilliqaZIL2019A high-throughput public blockchain platform designed to scale to thousands of transactions per second.$365 million
HoloHOT2018Distributed cloud hosting for peer-to-peer applications built on Holochain.$352 million
RavencoinRVN2018A blockchain specifically designed to handle the transfer of assets from one party to another.$291 million
AnkrANKR2017A distributed computing platform that aims to leverage idle cloud resources in data centers and edge computers.$267 million
ProtonXPR2020Aims to connect traditional finance, blockchain, and payment systems with fast and secure transactions.$24 million
BitTorrentBTT2019Extended the popular P2P network with a token-based economy for incentivizing file sharing.$1.09 billion
AmpAMP2020Provides collateralization for fast and efficient value transfers, particularly for digital payments.$149 million
1inch Network1INCH2019A decentralized exchange aggregator that scans DEXs to find the lowest cryptocurrency prices for users.$570 million

Should you invest in penny cryptocurrencies?

Penny cryptocurrencies present a diverse and dynamic landscape, especially during altcoin season when these assets often experience significant growth. Some of these cryptos also present passive income opportunities, including staking and yield farming.

Penny cryptocurrencies offer opportunities for significant returns, especially during a bull run. Whether they’re priced under one cent, are popular memecoins, or simply undervalued penny cryptos, these assets form an exciting part of a balanced crypto portfolio. However, keeping abreast of crypto market trends and understanding investment strategies is crucial for navigating this space. Thorough risk assessment is key when considering any investment, but especially with crypto. If you do want to purchase some penny cryptos, only invest what you can afford to lose, and remember profits are never guaranteed,

Frequently asked questions

Which penny crypto to buy today?

What is a penny crypto?

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Top crypto projects in the US | April 2024

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Iulia Vasile
Iulia Vasile is a seasoned professional in the cryptocurrency and blockchain industry, working full-time in the field since 2017. With a background in computer engineering, she has the unique ability to write about complicated topics, including DeFi, NFTs, trading, and AI, in a way that is easy to understand. Iulia learned multiple programming languages while completing her Software Engineering degree in Bucharest at Politehnica University. Iulia brings her expertise and personal...
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