Web3 is full of high-potential opportunities that can offer enormous returns from even the smallest initial investments. Conversely, some well-established projects suffer from diminishing returns, which means that newer projects often provide much better value.
Bear market conditions and new releases, particularly among projects aiming to take control of a particular sector of the crypto industry, can make penny stocks a more desirable option. For anyone wondering just how to make their first million, here are the best crypto penny stocks:
- Metacade (MCADE)
- Tron (TRX)
- Algorand (ALGO)
- Ripple (XRP)
- VeChain (VET)
- Cronos (CRO)
1. Metacade (MCADE) – The best P2E crypto penny stock
Metacade, currently in its crypto presale event, is quickly establishing itself as one of the best crypto penny stocks to buy in 2023. The platform is being built to offer a vast range of play-to-earn (P2E) games in a single location. It intends to provide gamers with a chance to earn substantial crypto rewards, all while indulging their passion for gaming and connecting with like-minded enthusiasts.
Alongside the platform’s rich P2E mechanics sit valuable earning opportunities for its users. For example, rewards are available for posting valuable social content on the platform, via the Create2Earn initiative. At the same time, others looking to kick off a part-time or full-time career in Web3 development will have their chance, through the Work2Earn scheme and the job board that are development for the hub.
One of the prime features attracting investors to Metacade’s presale in their thousands is the Metagrants scheme. Designed to encourage the creation of new games exclusively for Metacade, developers can apply for funding to support their ventures. The community of MCADE token holders votes for their favorite submissions, with the most popular becoming reality, thanks to the support provided through the platform’s grants.
Why buy MCADE?
The MCADE crypto presale has identified itself as a leading investment opportunity with rich returns potentially open to early bullish investors. After releasing at $0.008 per token, the total funding raised to date is currently $7.3m as investors look to take advantage of one of the best crypto penny stocks to buy now.
With the price of MCADE rising to $0.02 by the end of the presale event, expectations are high that the price will surge once the token hits exchanges. MCADE’s long-term roadmap and extremely attractive set of features look set to generate lucrative returns for investors while pushing the platform to the forefront of the GameFi revolution.
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2. Tron (TRX) – Scalable blockchain solution available for pennies
Tron has long been established as one of the best layer-1 blockchain providers thanks to its versatile and scalable solutions, providing a compelling alternative to market leader Ethereum. Released in 2017 with the aim of decentralizing entertainment, content-sharing, and gaming, this highly-scalable blockchain has proved itself able to support high transaction throughput at lightning-fast speeds, often confirming within 3 seconds.
Developers can use the platform to support a vast range of decentralized apps (dApps). This is enabled through the platform’s Tron Virtual Machine (TVM), which provides smart contract support and easy, cheap transactions.
At the core of Tron’s quest to decentralize the web is their belief that web users should control who sees their private data, rather than having it automatically mined by big tech companies such as Meta and Google. With growing unease around big tech use of personal data, this is a truly compelling use case for Tron.
Why buy TRX?
Tron’s network is regularly used as one of the fastest and cheapest ways to transact global cryptocurrency transfers. Its high liquidity enables the platform’s excellent scalability, leading to its impressive 2000 transactions-per-second (TPS) capacity without compromising performance.
TRX was valued at $0.18 at the peak of 2021’s bull market was considerably higher than its current value of $0.062. With a dedicated user base trusting Tron as a reliable blockchain provider that consistently delivers fast transactions, TRX is one of the best crypto penny stocks to buy now.
3. Algorand (ALGO) – Proof-of-stake blockchain popular with dApp developers
Algorand is a blockchain that offers a permissionless, proof-of-stake (PoS) smart chain consensus that supports the development of dApps. It is designed to be secure, scalable, and fast, ensuring that all those participating in the network have equal influence.
The PoS consensus protocol enables total decentralization, with each node having equal authority. This allows maximum security across Algorand’s entire network and promotes full transparency, as transactions are conducted at high speed and low cost.
Algorand’s outstanding combination of excellent scalability alongside high transaction speed is the feature that makes it stand out from many of its Web3 competitors. Their stated aim is to help create a future where individuals have the tools to fully realized digital asset ownership and interact seamlessly with other web users online.
Why buy ALGO?
Three traditional issues tend to dog blockchain providers, yet Algorand’s platform has solved this infamous trio of problems. It has previously been stated that a distributed network must sacrifice either scalability, decentralization, or security to function. Algorand has achieved a network that sacrifices none of these essential functions, providing support to millions of users.
Currently available at $0.246, ALGO is one of the best crypto penny stocks presently available, with enormous potential to grow as its market-leading capability becomes known. This makes it a coin worth investing in now, with rich dividends potentially on offer for anyone who takes advantage of this current low price.
4. Ripple (XRP) – Enabling lightning-fast international transfers
Ripple aims to revolutionize the financial services industry by offering a compelling alternative to the costly and cumbersome SWIFT global payments system. With outstanding results, Ripple’s alternative has been trialed by several leading international financial behemoths, including the Bank of England, Bank of America, and Santander.
Ripple offers the same service as the SWIFT system but costs less than $0.01 per transaction and competing transfers within seconds. Widespread adoption of Ripple’s solution has been held back by a widely-publicized legal challenge to the legality of their native XRP token by the US Securities and Exchange Commission (SEC).
However, this hasn’t stopped some of the world’s most prominent financial institutions, including Coinbase, and thousands of XRP coin holders from supporting the platform.
Why buy XRP?
Encouraging investment in a currency currently embroiled in a legal dispute with American government bodies appears ridiculous. However, with a decision due in mid-2023 and many experts believing the verdict will exonerate Ripple, XRP’s value will skyrocket the moment a favorable decision is granted.
With the continuing support of some of big finance’s most trusted names, a revolutionary decentralized finance (DeFi) solution that delivers enormous benefits to individuals and companies conducting cross-border business, XRP’s current value of $0.41 is unbelievable. This makes it one of the best crypto penny stocks to buy now, with potentially huge dividends to investors.
5. VeChain (VET) – Logistics solution with eco-sustainable motives
One of the questions that have dogged cryptocurrencies since their establishment more than a decade ago has been around energy efficiency and sustainability. VeChain is a blockchain network aiming to increase transparency and efficiency in logistic supply chains and, more recently, provide SaaS support for companies and governments in meeting net-zero targets.
Several big companies, including BMW, Renault, Vauxhall, PriceWaterhouseCoopers, and Walmart (China), have begun to adopt VeChain’s supply chain solutions, demonstrating the platform’s real-world viability and value.
Meanwhile, VeChain’s new carbon-neutral CO2 emission-management platform (VeCarbon) launched in 2022 and is already beginning to deliver benefits to those looking to understand their current carbon footprint and how to reduce it.
Why buy VET?
VeChain’s native VET coin is currently trading at $0.234. It will likely gain significant traction over the coming months and years as more countries and nations look for valuable solutions that deliver tangible benefits.
VeChain’s multi-use case, delivering on improving visibility and security throughout the supply-chain process, and reducing the risk of theft and fraud, is proven. Meanwhile, their move into carbon management suggests an incredibly bright future for the VET coin, making it one of the best crypto penny stocks to buy in 2023.
6. Cronos (CRO) – Native coin of crypto exchange giant looks likely to grow
Cronos (CRO) is the native coin of the crypto exchange Crypto.com, one of the biggest centralized crypto exchanges in the world. While Crypto.com’s primary mechanism is focused on trading cryptocurrencies, offering CRO coin holders access to reduced transaction fees and a range of special offers, the platform’s toolkit extends much deeper into the world of crypto trading.
Cronos leverages the power of artificial intelligence (AI) to facilitate faster transactions and lower costs. Meanwhile, the cutting-edge technology enabled by the CRO coin provides users with access to quick and easy management of their portfolios and the ability to track investments across different exchanges, thus increasing the potential for profitable returns.
Why buy CRO?
The collapse of the FTX exchange in late 2022 has opened up a massive gap in the market for other exchanges to try and challenge the market leader, Binance. Crypto.com looks exceptionally well placed to lead the charge with its wide-ranging and compelling range of features.
The CRO coin is currently valued at $0.079, which looks very low for a currency that offers such rich utility, a vast user base, and a compelling existing catalog of features. Predictions are that CRO will rise significantly in value, particularly as Crypto.com positions itself as one of the main challengers to replace FTX, making it one of the best crypto penny stocks to buy right now.
MCADE: Presale event represents the best crypto penny stock opportunity in 2023
Metacade’s crypto presale has been launched at a price designed to get investors talking, and the rate at which the presale has been selling to date has done precisely that. The value of MCADE, currently $0.0155, will continue to rise as the presale progresses.
The platform’s extremely attractive roadmap, multi-feature platform, and long-term potential, combined with their plans to pass complete control to the community by the end of 2024, make it the best crypto penny stock investment. Predictions are that MCADE could reach $5 over the next couple of years, an increase in value that would reward the early and bullish investor with outstanding returns.
MCADE’s value can skyrocket as soon as it hits exchanges, so get involved now to take full advantage of this rare crypto investment opportunity and avoid disappointment.
You can buy the best cryptocurrencies at eToro here.
You can participate in the Metacade presale here.
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