Remember that wooden piggy bank we all saved money in while growing up? Imagine the coins you put inside it increasing after some time. Say your 50 kobo became ₦5 overnight 🌚. That’s one of the superpowers of cryptocurrencies 🦸.
There are cryptocurrencies that are lower than $1. They make up a category of coins called penny cryptos. Since these cryptocurrencies are priced at less than or around $1, they are potentially more profitable but riskier than regular coins.
What Are Penny Cryptocurrencies?
Penny cryptos are altcoins that are usually parts of new crypto projects, and they have low market capitalisation values compared to established projects like Bitcoin and Ethereum.
When you were first told to invest in crypto, you must have done a lot of math calculating how much you needed to buy popular coins like Bitcoin, Ethereum, or Solana. You might have even thought you couldn’t invest in crypto because they were only for rich people.
But with penny cryptos, anyone can have a piece of the market in their crypto wallet. It’s also easier to invest in penny tokens because of their low prices.
Different Categories of Penny Cryptos
Penny coins are often from newly launched crypto projects that are still finding their feet in the market. But that’s not always the case. Now, let’s look at the major categories of penny crypto coins out there.
- New coins: Most new coins start with low prices after completing their initial coin offerings (ICOs). Even Bitcoin didn’t start selling for big money. So, new crypto coins are the first category to look at for penny cryptocurrencies.
- Stagnant coins: Some cryptocurrencies have been in the market for some time but have failed to increase in price. A coin’s stagnation may signify no development or that its developers are slowly abandoning the project.
- Crashing coins: These coins have seen better days, but their prices are declining. Sometimes, it may mean that the coin’s price has peaked and early investors are taking profits. Other times, it may result from a general price fall in the entire crypto market.
That’s why it’s very important to research properly when investing in penny coins.
Top Penny Cryptocurrencies to Watch in 2025
There are many coins valued less than $1 out there. Here are the five best penny cryptos to invest in right now:
Cardano (ADA)
Cardano is another popular crypto project that has a penny coin. The ADA token was launched by Charles Hoskinson, one of Ethereum’s co-founders, in 2017. Cardano started as an ambitious Ethereum rival. It was all about faster and cheaper payments.
It was also the biggest crypto project to use the proof-of-stake (PoS) consensus mechanism at the time. This allowed people to stake their coins for periodic rewards. Ethereum caught up later and migrated from proof-of-work (PoW) to the current PoS system.
ADA is trading at around $1 at the time of writing, with an increase of over 70% in the past year. Despite not being in the headlines like Ripple’s XRP, many experts still view Cardano as one of the most promising crypto projects.
Pepe (PEPE)
If you’re familiar with the meme coin market, you must have heard of Pepe (PEPE), a meme token that went viral in 2023. The frog meme token was launched on the Ethereum network in April of that year, and its price went up by over 1,000% within a few weeks.
Not even its elder meme coin siblings – Dogecoin (DOGE) and Shiba Inu (SHIB) – could achieve the same feat. Since then, PEPE has been one of the most popular and traded meme coins.
PEPE has also had a good run in 2024. The token is currently trading at around $0.00002, with a 1,500%+ growth in the space of one year.
Dogecoin (DOGE)
Dogecoin (DOGE) was the first meme coin to be created. The coin was launched in 2013, and it recorded massive success after going viral on social media. Tesla and Space X CEO, Elon Musk, played a major role in influencing the coin with a series of tweets.
Today, the meme coin has paved the way for many other tokens, including Shiba Inu (SHIB) and Pepe (PEPE). At a price of about $0.38 per token, the DOGE price has increased by over 300% in the past year.
Tron (TRX)
Tron is a popular blockchain known for supporting various decentralised applications (dApps) with its fast and cheap network. The blockchain has a TRX token that powers it, and like most cryptocurrencies, the coin can be traded on exchanges.
As of the time of writing this post, Tron is trading for around $0.27, up by approximately 170% in the past year.
Stellar (XLM)
As crypto payments get more popular, blockchains like Stellar were developed to help businesses process cross-border transactions at low costs. The demand for such platforms makes Stellar’s native token called Lumens or XLM well-known in the crypto payment ecosystem.
XLM has also had a great 2024, evident in its 250% growth in the past year. The XLM price is just about $0.43 at the time of writing, making it a decent option for penny coins investors and traders.
Polygon (ex-MATIC)
Polygon is the company behind the ex-MATIC token. In case you’re wondering why it has a prefix called “ex,” it’s because Polygon upgraded the MATIC token to POL. The new version after the migration is now known as POL (ex-MATIC).
As of the time of writing, POL is valued at around $0.65, with a month-on-month increase of around 66% between November and December, 2024.
Pros and Cons of Penny Coin Investing
Investing in penny cryptocurrencies sounds like a nice idea, but there are also some risks to be wary of. Let’s look at the benefits and downsides of investing in penny crypto coins below:
Penny Cryptocurrency Advantages
- Cheaper options to enter the crypto market
- Penny coins can potentially increase in price after some time
- You can diversify your portfolio with penny coins
Penny Cryptocurrency Disadvantages
- Penny coins experience sharp price swings
- Due to their low market cap, penny coins experience low liquidity
How to Buy Penny Cryptocurrencies in Nigeria
If you’re looking to invest in penny cryptocurrencies in Nigeria, you can get your preferred option on Quidax using the steps below:
- Sign up on the Quidax app or web
- Complete KYC
- Deposit funds using your bank account, debit card, or crypto
- Search for the ticker symbol of any penny coin you want to buy (Eg, “QDX”)
- Enter the amount you want to purchase and complete the transaction
Final Thoughts
Investing in penny cryptocurrencies is one of the easiest ways to enter the crypto market. At a price less than $1, these crypto coins offer the potential of possible profits in the future. They also help investors back projects they believe in.
Whatever the reason is, ensure to do your own research before signing up on Quidax to buy penny coins. #WAGMI.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
