17 Best Penny Cryptocurrencies 2023

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Penny cryptocurrency investments have the potential to offer attractive returns with a very small initial commitment. There are more digital currencies than ever, and many trade for less than a dollar.

As such, in this guide, we discuss the 17 best penny cryptocurrencies to invest in for 2023.

We also explore why investors choose penny cryptocurrencies and what risks to consider before proceeding with an investment. 

Overview of the Top 17 Penny Cryptos for 2023

Below is a list of the best penny crypto to buy in 2023, to assist investors in choosing a suitable project for their portfolio.

• Meta Masters Guild (MEMAG) - Overall Best Penny Cryptocurrency available at the lowest price possible 
• FightOut (FGHT) - New Crypto with Exciting Presale and Ambitious Future
• Metropoly – The Best Penny Cryptocurrency with Real-World Utility 
• C+Charge (CCHG) - Eco-Friendly Presale Crypto at Rock-Bottom Price
• Calvaria (RIA) - Play to Earn Game with 2 Multi-Utility Tokens with Low Fees
• RobotEra (TARO) - November Launched Crypto with P2E, Metaverse and NFTs
• IMPT (IMPT) - Carbon-Offset Protocol Expected to have Huge 2023
• Tamadoge (TAMA) - Top Penny Cryptocurrency that has Pumped since Listing
• Battle Infinity (IBAT) - Blockchain Gaming Platform With a Metaverse World
• The Hideaways - Crypto Project Bridging Blockchain with Real Estate 
• Lucky Block (LBLOCK) - NFT Competitions Project with Giveaways
• Ripple (XRP) - Large-Cap Enterprise Blockchain and Crypto Solutions Provider
• Cardano (ADA) - Proof-of-Stake Network with Staking Pools
• Tron (TRX) - Decentralized Network With DeFi, Web3, and NFT Integration
• Cronos (CRO) - Native Token of the Ecosystem Supported by Crypto.com
• Polygon (MATIC) - Multi-Chain Scaling Solution On Ethereum Network
• Chiliz (CHZ) - Sports-Focussed Platform With Fan Tokens

We’ve included a good variety of penny cryptocurrencies for those who may want to create a diverse portfolio or are still deciding on their financial goals.

Full Analysis of the 16 Best Penny Cryptocurrency to Invest in 2023

A large part of finding crypto under a penny that will explode is to conduct plenty of thorough research.

To aid this process, we’ve reviewed and ranked the 16 most promising penny cryptocurrencies below. 

As we touched on, to embrace diversification and risk management, we discuss a range of different project types.

1.Meta Masters Guild - Overall Best Penny Cryptocurrency available at the lowest price possible 

Currently available to buy during its first presale round for just $0.007 per token, Meta Masters Guild (MEMAG) is our recommended best penny token for 2023. Investors can leverage this token to engage in multiple mobile-based Web3 games within the Meta Masters Guild ecosystem. Moreover, this top penny token is set to increase by 228% by the end of the presale. 

According to the Meta Masters Guild whitepaper, the platform has positioned itself as a Play-and-Earn (P&E) cryptocurrency. This concept offers earning opportunities by participating in a high-quality gaming platform. 

With $MEMAG, users can directly access various mobile-based cryptocurrency games. Moreover, the token can be staked within the ecosystem to earn additional benefits. While MEMAG is the native token, the platform leverages ‘GEMS’ within the gaming ecosystem. 

Gems can be collected and earned by competing in the three mobile games that Meta Masters Guild is currently developing. The first project is ‘Meta Kart Racers’ - a Player v Player racing game being developed by Gamearound, a popular Web3 developer. 

Players can also earn Gems through an NFT fantasy fighting game called Raid NFT. Gems can be leveraged to buy in-game NFTs and compete against warrior classes within this gaming project. 

The final game in development is Meta Masters World - an open-world metaverse which will feature playable NFTs. With the Alpha launch of the racing game scheduled for Q2 2023, we may experience a soaring of interest in Meta Mastes Guild after the presale ends. 

Currently, this penny cryptocurrency is priced at only $0.007 per token. By making a minimum investment of 1,000 MEMAG ($7) during this stage, investors can acquire MEMAG before the price hikes to $0.023 by the final round.   

Interested readers can join the Telegram Channel to stay updated with this cryptocurrency project. 

2. FightOut (FGHT) - New Penny Crypto with Exciting Presale and Ambitious Future

FightOut (FGHT) has already raised more than $2.5 million in funding since its presale went live, with FGHT selling for $0.0166. Investors are flocking to the project because of its revolutionary approach to M2E and plan to build real-world gyms around the world with Web3 integration.

Locations for the first gym are already being scouted by the team, while the fitness app will provide a much more rounded approach to fitness than other M2E projects such as STEPN.

While that is focused on steps - walking and running - and required expensive NFTs to get started, FightOut will offer tailored training programs that include strength and cardio training, as well as wellness and mental health.

The project’s smart technology will track movement, key effort indicators, sleep and nutrition to feed into an algorithm and build up a digital fitness profile. A unique training program will then be tailored to each individual, with users earning rewards for completing workouts and daily, weekly and monthly challenges against other users.

The digital profile will be represented in an NFT avatar that is fully customizable but is soulbound, meaning it cannot be bought or sold.

While FGHT will fund the future development of the project, rewards will be via in-app currency REPS, which can be used to get discounts on gym memberships, pay for personal training sessions or redeemed for apparel, training equipment and supplements.

Along with scouting real-world gym locations, the FightOut team is already in discussions with potential ambassadors for the project - world-class athletes and elite-level coaches from boxing, pro wrestling and MMA are being targeted and will also provide masterclass-style workouts.

Two UFC stars - Amanda Ribas and Taila Santos - are already on board, as is former boxing world champion Savannah Marshall, who is set for a mega rematch with Claressa Shields in summer 2023.

FightOut, which we've dubbed the best new crypto to invest in, is also offering up to 50% in bonuses for stage 1 investors. 

The project has allocated 60% of the 10 billion FGHT supply to the presale, another 30% for bonuses and development and the final 10% for liquidity on exchanges - investors can choose to lock their tokens for a longer period in exchange for large bonuses.

The developers have also outlined how they plan to spend the money raised, with 70% to venue acquisition and refurbishment, 18% to marketing and partnerships and 12% to product development.

FightOut has a doxxed and experienced development team with a background in combat sports and fitness app development. For more information, read the FightOut whitepaper and join the Telegram group.

Visit FightOut Presale Now

3. Metropoly – The Best Penny Cryptocurrency with Real-World Utility 

The popular narrative around NFTs has always centered around art collectibles and cash grabs. But they are capable of much more. We have yet to discover a better technology to track the ownership and transfer of ownership of an asset. As a result, NFTs have use cases across a wide range of industries that have long been in the hands of a few. A good example is real estate. NFTs can simplify and decentralize the real estate market. 

Metropoly shows us how.

It is building the world’s first NFT marketplace backed by (100%) real-world properties. For this, the assets are first tokenized into NFTs and then divided into fractional NFTs. You can buy fractional NFTs underpinned by properties across the world for as low as $100 per piece. Yes, they will generate rent and appreciate in value, just like a ‘real’ real estate asset. 

Metropoly’s creative integration of blockchain technology cuts down the time, effort, and cost that go into real estate investment. It also helps retail investors do away with the hassles of documentation, maintenance, and occupation, to name just a few. To give you more perspective, if it takes two months to invest in a real estate property in the traditional market, you can do that in less than 2 minutes on Metropoly. That’s because Metropoly NFTs can be traded on the marketplace – the beta version of which is now live – any time you want.

Metropoly’s partnerships with top industry players like ChainAdoption and Tenset underscore its credibility. In fact, Tenset has incubated projects like Metahero and Everdome Coin. These projects went on to make more than 20X returns for early investors on launch. Does that mean Metropoly is the next 20X project in the making?

If the growing traffic to the ongoing METRO presale is any sign, it is. METRO is the native cryptocurrency of the ecosystem that will power the payment and reward mechanisms. The evergreen nature of the real estate market and the advanced solution put forward by the project strengthen its growth potential. Early-stage presale investors can take advantage of attractive discounts and bonuses. (Use the bonus code Launch20 to get an additional 20% on your purchases.)

A Metropoly giveaway of a Burj Khalifa Apartment worth $1,000,000 is now live. You can get entry to the draw by completing the tasks listed under the contest. Also, make sure you have $100 in METRO in your wallet at the time of the draw. The property earns up to $100,000 yearly in rental income for life. 

Visit Metropoly Presale 

4. C+Charge (CCHG) - Eco-Friendly Presale Crypto at Rock-Bottom Price

C+Charge has developed an eco-friendly crypto and offered it at $0.013 during the first stage of its presale. 

CCHG tokens are available for pennies during the entire presale, but they increase in value as they enter the different stages.

The token is available at $0.0165 during the second stage and then at $0.02 during the third stage. 

By the time CCHG enters the fourth and final stage, it will be priced at $0.0235 — an 80% increase from the current price in stage 1.

Electric vehicle (EV) drivers can use CCHG tokens to pay for the charging of their vehicles when C+Charge launches its peer-to-peer payment platform. Since the coins are priced low during the presale, now's the time to buy them. 

C+Charge offers carbon credits as rewards every time that drivers charge their vehicles, to incentivize EV ownership. The coins are paid from the crypto wallet, stored in the C+Charge app, which also stores and tracks the balance of the coins and credits.

EV drivers can further use the app to access info that makes EV ownership more convenient - such as locating the nearest functional charging station and receiving information on the price to charge the vehicle and wait times. 

All the information about the coin and the project is available on the Telegram channel and C+Charge's whitepaper. 

C+Charge has allocated only 40% of the total 1 billion tokens to the presale. 

EV drivers who miss out on the presale will scramble to get the remaining tokens on the exchanges as only 8% of the capped supply is available for liquidity.

Buy $CCHG Tokens Now

5. Calvaria (RIA) - Play to Earn Game with 2 Multi-Utility Tokens with Low Fees

Calvaria has separated itself from many crypto games by offering not only a play-to-earn game but a free-to-play version as well.

The native token, RIA, is currently priced in the penny range after recently just finishing its presale, but that may change once it's listed on exchanges. The initial exchange offering is expected to go live later in February on BKEX, and we should see how high it surges after.

Investors quickly rushed to the Calvaria presale, which resulted in the project raising over $3 million in a short period of time.

Players can use the token to combine cards with the same strength to buy higher-level cards and rewards, as well as governance, voting, and staking. Calvaria also informs investors about its coins and other developments via the Telegram group.

Players can lock in their coins for a specific duration to earn daily rewards. Owning RIA tokens enables investors to vote on key aspects of the ecosystem to determine its future, with RIA token holders act as governors to ensure that the ecosystem functions properly.

RIA has 0% sales tax and are tradeable on exchanges and the coins will become more valuable as Calvaria adds features to them. Players receive tokens as rewards for winning tournaments and highly-active gameplay.

The game requires players to use strategy to defeat opponents by playing their cards, representing characters with unique strengths. Players can strengthen their cards by collecting unique ones, receiving power-ups and other resources.

As well as a full P2E version, Calvaria will offer Duels of Eternity totally free, without a rewards system, to drive casual and traditional gamers to the blockchain.

The Calvaria whitepaper details the game's tokens and features, providing key benefits. The lowest Calvaria crypto prices are available now, during the first stage of the presale.

Visit Calvaria Today

6. RobotEra (TARO) - November Launched Crypto with P2E, Metaverse and NFTs

TARO is a new penny crypto currently in a hot presale that launched in November 2022 - investors wanting to lock in low prices should get in now while the project is still in early-round fundraising.

RobotEra is a play to earn game requiring players to customize and trade robot NFT avatars and reconstruct planet Taro on metaverse plots of land.

The tokens are currently at their lowest price, selling for $0.02 during the first stage of the three-stage presale.

Investing in this project now means that investors will own an appreciating asset that increases in value as it enters the different stages of the presale. 

By the time the RobotEra presale ends, early investors will have enjoyed a 60% increase in the value of $TARO tokens before they reach exchanges, with final stage tokens to sell for $0.032.

Players can also earn more tokens by buying land to mine minerals while monetizing metaverse is also possible by renting out billboards for advertising or hosting concerts and events and charging an entry fee.

RobotEra even rewards players for building and customizing NFT robot companions, which can be held or sold on.

The game enables players to earn a passive income by staking their coins, which is vital for rebuilding Taro - players also receive $TARO tokens for operating independent continents.

Players of RobotEra, which is an LBank Labs project, will not need coding language to build their metaverse worlds or customize NFT robots, with the game featuring its own custom tools.

Physics, sound, user interaction, payments and dynamic 3D scenes can be added and RobotEra expects the use case of the game to grow in time as players make the land their own.

Further information about $TARO tokens and the game can be found on its Telegram channel, while interested investors can also read the RobotEra whitepaper for a comprehensive overview of the token.

Only 15% of the total $TARO supply will be available for the presale in three stages, with a hard cap of around $7 million.

On sale for $0.02 now, the second stage increases the coin's value to $0.025 and the third to $0.032 - so the time to be a part of this project is now.

 Buy $TARO Tokens Now

7. IMPT (IMPT) - Carbon-Offset Protocol Expected to have Huge 2023

The best way to beat the crypto bear market - and wider macroeconomic conditions - has been to find solid projects and invest in their presales for low prices.

As Tamadoge (below) has proved, finding projects early can lead to excellent returns for investors and IMPT has investors extremely excited after it raised $20 million.

IMPT is a unique, eco-friendly project that has just launched its presale and looks set for exciting growth in the weeks and months ahead when market conditions improve.

The carbon zero project has already agreed on partnerships with more than 10,000 companies and retailers - including globally recognizable brands such as Nike, Samsung, Amazon and Microsoft - to do more to fight the climate crisis.

While many new crypto projects struggle with a lack of real-world utility, IMPT is building a project to fight one of the most pressing concerns of the 21st century, climate change.

Individuals and businesses can offset their carbon footprint by earning carbon credit NFTs, which can be bought on a custom-built marketplace or earned through shopping

Carbon credits are permits that allow their holder to emit greenhouse gas into the atmosphere while funding environmentally friendly organizations that have been fully vetted and audited. 

Users can earn credits when shopping, which will have value in themselves as they can be sold or swapped and also retired - with retired credits earning their former owners NFTs and a score on a global leaderboard to track their carbon footprint.

Built on Ethereum - one of the most eco-friendly blockchains around after the Merge - IMPT boasts a doxxed team with years of senior experience in commerce and telecoms. 

IMPT tokens are now listed on Uniswap, LBank and BitMart with experts predicting a pump in the coming weeks and months,. Given its real-world use case, IMPT looks set to be one of the best cryptos to buy in 2023.

Read more information in the IMPT whitepaper and join the Telegram group for the latest news.

Buy IMPT Now

8. Tamadoge (TAMA) - Top Penny Cryptocurrency that has Pumped since Listing

Tamadoge is another of the best penny cryptos to invest having seen massive gains from its presale price and sitting in the top 10 of meme coins by volume since launch.

Currently trading at around $0.015, TAMA looks set for another break out in the coming weeks with the project continuing with the development of its ecosystem.

A sign of a crypto under a penny that will explode is having a highly successful beta and presale phase - finding the best crypto presales can be a great way to maximize gains.

TAMA raised $19 million in less than eight weeks despite general bear market conditions. This penny cryptocurrency has already accrued a strong community of followers called the Tamadoge Army and on Twitter alone has already more than 85,000 followers, giving it the potential for meme coin ROI.

In the Tamaverse, which includes NFT ownership and play-to-earn gaming, players will be able to mint and breed their very own Tamadoge pet.

Players will be able to train and take their Tamadoge NFTs to battle to try and rise to the top of the scoreboard each month. As part of Tamadoge’s roadmap, P2E games will eventually incorporate augmented reality (AR) activities.

Players will have a variety of opportunities to earn digital tokens on the platform, with the Tamadoge AR app set to be released in Q4 2023. Not only will this allow pet NFTs to interact with their Tamaverse buddies, but they can also go hunting for TAMA tokens.

The Ultra Rare Pet NFT collection also launched in October to massive hype, becoming the top trending collection on OpenSea after seeing 250 ETH in volume in 24hrs.

Tamadoge has recently been listed on Gate - the fifth-largest exchange by volume - and is expected to list on other exchanges soon.

Follow the official Telegram and Twitter pages for more of the latest news from the project.

Buy TAMA on OKX

9. Battle Infinity (IBAT) - Blockchain Gaming Platform With Metaverse

Another penny crypto project bringing together the P2E and metaverse industries is the highly intriguing ecosystem, Battle Infinity. The token used for in-game purchases, rewards, and other utilities is IBAT.

Some market commentators argue that IBAT is another crypto under a penny that will explode. The Battle Infinity presale was among the best ICOs of 2022 and hit its hard cap goal of 16,500 BNB (about $5 million) in just 24 days.

Early listings have already seen the price spike by 200% from the presale price.

At the time of writing, investors can buy this penny crypto on a number of DEXs and CEXs for under a penny, with more listings in the pipeline in the near future.

The overall objective was to develop a complete P2E gaming environment, while also including a number of utility-focused features - Battle Infinity has thus far accomplished this and is one of the best new cryptocurrency projects in the space.

The Battle Infinity ecosystem is made up of six distinct platforms, each with a specific purpose. This makes IBAT one of the most promising penny cryptocurrencies of 2023.

For a start, the NFT-based P2E fantasy sports game the IBAT Premier League is interconnected with the metaverse. This allows players to create their own team of athletes to compete with others to climb up the leaderboard.

The cricket P2E game is based on the Indian Premier League. The developers will also introduce basketball, baseball, hockey, football (soccer), and more as time goes on.

Players may purchase and trade different NFTs, such as athletes and game characters, at the Battle Games store. Moreover, using the specialist platform Battle Staking, investors can earn on cryptocurrency holdings.

Additionally, investors will discover a variety of NFTs, such as artwork, in-game products, and more on the Battle Market. Meanwhile, the Battle Arena is a fully realized metaverse setting and is a stand-out feature of the platform.

Battle Swap is the name of the decentralized marketplace within the ecosystem. Here, investors may directly purchase IBAT tokens and exchange rewards for other currencies.

Visit Battle Infinity

10. The Hideaways - Crypto Project Bridging Blockchain with Real Estate

If you’re looking for a cryptocurrency with low risk exposure, but the potential to do 100X then the  HDWY will make a great buy this year. This is a coin you don’t wnat to miss out on this year, it is the native token of The Hideaways — the world’s first platform to allow anyone to invest in a fully-managed, global portfolio of luxury properties. 

The Hideaways decentralizes the real estate market through NFTs backed by luxury properties. The NFTs are fractionalized and made available to investors for a price starting from $100. The system goes a long way in lowering the financial and geographical barriers to the traditional real estate market. 

You need not go through the paperwork and hassles that come with real estate ownership and registration. You can trade the assets on the NFT marketplaces like you’d trade stock or crypto assets. Tokenization also helps users track the historical price data of the properties in a few clicks. You can shortlist your favorite properties from the platform and sign up for price alerts to make on-time decisions. 

Other key features of The Hideaways include:

• Passive rental income from NFTs throughout the year
• Passive income from staking HDWY tokens
• Community-guided investment strategy 
• Club Hideaway membership for NFT owners. It comes with perks like monthly prize draws, discounted access to worldwide travel experiences, lounge access, the opportunity to win all-inclusive holidays to a portfolio property, and more. 
• VIP Memberships, on the other hand, bring tiered benefits like a global concierge, access to first-class lounges, exclusive club memberships, and more.

You can now buy HDWY tokens for a discounted price from the website. The presale is the cheapest way into the project, as the token is predicted to climb 5-10X on exchange listing. 

And as the roadmap unfolds with new exchange listings and NFT launches, the token price will go up by a lot. The fact that you get around 20% passive income, can own luxury property, and it’s addressing a $230 trillion market gives it massive potential. 

Visit The Hideaways Now 

11. Lucky Block (LBLOCK) - NFT Competitions Project with Giveaways

The NFT competitions project Lucky Block has had tremendous growth since its early 2022 launch. It’s ranked as one of the best cryptos under $1 with potential and its presale sold out well ahead of time.

The project offers unrivalled prizes in the space with $1 million of Bitcoin, a $300,000 Lamborghini, a $1 million house and a Bored Ape Yacht Club NFT currently up for grabs.

Investors get access to a number of contests and rewards through the platform by purchasing Lucky Block NFTs. There will only ever be 10,000 Lucky Block NFTs produced and only a select number are rare collectibles.

In addition, participants have the chance to win actual prizes and are automatically admitted to the Platinum Rollers Club if they own NFTs. Those new to NFTs should read our full NFT beginner's guide.

The native token LBLOCK just had a V2 update, meaning it is now on the Ethereum blockchain and more easily listed on centralized exchanges - a bridge was also announced to allow holders of V1 to trade in for the V2 coin.

Visit Lucky Block

12. Ripple (XRP) - Large-Cap Enterprise Blockchain and Crypto Solutions Provider

Ripple is a firm favorite among those who favor penny cryptocurrencies. Moreover, XRP tokens rank among the top ten cryptocurrencies on CoinMarketCap.

This penny crypto was created with the goal of transferring transactions from closed systems controlled by financial institutions to a more open system while drastically reducing costs.

The goal of RippleNet, the blockchain infrastructure built by the company, is to offer access to speedy, affordable, and straightforward cross-border transactions. 100 billion XRP tokens were pre-mined at launch.

In 2022, Ripple partnered with Fomo Pay, a well-known payments company located in Singapore. Through the partnership, Ripple's crypto-enabled business technology will be used by Fomo Pay to increase its international treasury flows.

At the time of writing this best penny crypto guide, Ripple has a market capitalization of over $17 billion, and XRP tokens are trading at almost $0.35. Traders can buy XRP on the best crypto apps such as the eToro Money app.  

Buy XRP on eToro

Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply. 

13. Cardano (ADA) - Proof-of-Stake Network With Staking Pools

Cardano is a decentralized proof-of-stake network and one of the most potent challengers to Ethereum. Despite being a top 10 cryptocurrency with a market valuation of over $15 billion at the time of writing, ADA is among the best crypto to buy under a penny.

With its Alonzo upgrade in 2021, Cardano put smart contract support into place. In contrast to other blockchains, the Cardano network requires peer approval for all applications and protocols before they can be implemented.

Moreover, there are various other use cases for ADA. For example, investors can take part in the staking and validation process. They also have the option of operating or owning a stake pool.

Trusted server nodes have the task of verifying transactions. The Cardano platform allows investors to manage numerous assets. They can also develop NFTs and smart contracts. Cardano is also one of the most energy-efficient cryptos on the market.

75% of the total coin supply has been mined at the time of writing and ADA is trading at approximately $0.46.

Buy ADA on eToro

Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply. 

14. Tron (TRX) - Decentralized Network With DeFi, Web3, and NFT Integration

Another well-known rival of Ethereum is Tron. Instead of attempting to mimic the Ethereum ecosystem, the Tron project developed its own blockchain with an emphasis on entertainment.

Similar to Chiliz, the Tron platform gives content producers control over their creations. They may use this decentralized network to directly share their work and material with their friends and followers while earning a commission in the form of cryptocurrencies.

TRX is also among the best penny crypto coins. Tron incorporates a number of cutting-edge crypto technologies into this decentralized network. This includes NFTs, dApps, DeFi, and Web3.

As a result, it continues to get a warm reception from the community of creators. Well-known faces, such as Lindsay Lohan, have already launched NFT token sales on the Tron network. If further high-profile celebrities decide to publish content on the Tron blockchain in the future, this could bode well for the value of TRX.

The market capitalization of Tron at this time is over $6 billion and tokens are trading at almost $0.07.

Buy TRX on eToro

Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply. 

15. Cronos (CRO) - Native Token of the Ecosystem Supported by Crypto.com

Cronos is the native token for the relatively new Cronos blockchain. There is often a misconception that CRO is the native token of Crypto.com, the popular trading and staking platform. However, both Cronos and Crypto.com are separate entities.

Having said that, Crypto.com does provide resources and support to the Cronos ecosystem. That is to say, the entire suite of products on the Crypto.com platform is presently compatible with Cronos. This includes the app, main exchange, and DeFi Wallet from Crypto.com 

The DeFi staking platform even offers users interest rates of up to 14.5% on CRO tokens. Cronos discreetly introduced its Play developer tool in August 2022. The objective is to provide developers with all the required framework to create ultra-realistic images and more immersive experiences.

This offers compatibility for a variety of cutting-edge game engines, including Unreal Engine 5, which is best known for powering Fortnite. Additionally, it supports the immensely well-liked C++ programming language, which is favored by game creators.

The market capitalization at the time of writing is nearly $4 billion and CRO is trading at around $0.10.

Buy CRO on eToro

Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply. 

16. Polygon (MATIC) - Multi-Chain scaling Solution On Ethereum Network

Built in conjunction with the Ethereum blockchain, Polygon is the most valued and promising layer-2 scaling penny crypto project. Polygon aims to reduce gas fees and increase Ethereum's efficiency. It also aims to increase transaction speeds. The native token of this project is MATIC.

Polygon has launched GameSwift, which is a Web3 ecosystem focused on gaming. An increasing number of developers and companies are drawn to Polygon. These tend to be those that are working on quickly developing crypto technologies like Web3, NFTs, and DEXs.

Polygon is therefore a multi-chain scaling solution. The project is expected to expand its activities over the next few years to additional blockchains and could be a top long-term crypto project to buy. This might broaden its use cases and boost interest in MATIC tokens, ultimately driving up the price.

The market capitalization of this altcoin at the time of writing is over $6 billion and MATIC is trading at approximately $0.80.

Buy MATIC on eToro

Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply. 

17. Chiliz (CHZ) - Sports-Focussed Platform With Fan Tokens

Investors researching crypto under a penny now will no doubt have come across Chiliz. Its native token is CHZ. This penny crypto is a popular option for sports fans, enabling them to have unique experiences with their favorite teams.

Put simply, Chiliz uses blockchain technology to enable interaction between fans and their preferred sports teams via NFTs and P2E gaming. 

The project draws inspiration from the Socios (fans) of Spanish soccer teams. Whereby a yearly membership allows supporters access to a range of privileges.

This includes club voting perks and early tickets. Investors can also use the CHZ token to buy the Fan Tokens of their preferred teams. Each club that works with Chiliz is allowed to personalize the experiences that owners of their Fan Tokens have in the real world.

Holders of Fan Tokens may also have a say in choices made by the team, such as celebration songs, starting lineups, stadium naming, and even new kit designs.

At the time of writing, CHZ tokens are trading at a little over $0.20. The market capitalization at this time is over $1.4 billion.

Buy CHZ on eToro

Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply. 

Penny Cryptocurrencies Explained

All digital currencies that cost less than $1 per token are known as penny cryptocurrencies.

• These low-cost cryptocurrencies have the potential to increase over the course of time
• However, there is a huge risk attached when investing in any digital currency
• It can be hard to know if crypto under a penny now will produce suitable gains later
• This is why it’s vital that when investors learn how to buy penny cryptocurrencies, they also research a wide range of other metrics such as the project behind the token, legitimacy, and how well-received it is in its early stages

For instance, this guide found that the stand-out penny project Tamadoge has a clear roadmap ahead, and has been audited and fully checked by Solid Proof.

Another positive is that the project also seems to be proving popular in its early stages, having sold out super early in its beta sale phase within weeks.

Is it Worth Buying Penny Cryptocurrencies?

Today, we’ve reviewed the best penny cryptocurrency to buy in 2023. However, investors may still be wondering whether penny crypto tokens are a worthy addition to a portfolio.

Further information on why it might be worth buying penny cryptocurrencies can be found below:

Upside Potential

Leaders in the crypto space today include Bitcoin, Ethereum, and many others. These coins have been around since a period when interest in crypto-assets was low. In reality, the market wasn't nearly as saturated back then either.

That said, using Bitcoin as an example, BTC tokens were worth less than a cent when they were first introduced to the public. At the time of writing, BTC tokens trade for over $21,700 each. Moreover, the market capitalization of Bitcoin has since surpassed $1 trillion.

As such, by choosing the right project, investors could see attractive gains by investing a low amount of $1 or less in a cryptocurrency.

Low-Cost Entry into the Crypto Market

Many investors have been put off by the initial outlay of entering the crypto market. 

However, this only really applies to tokens like Bitcoin, which, as we said, trades for many thousands of dollars.

In contrast, investors can buy our top pick - FGHT tokens - via the presale at a cost price of just $0.016.

Buy FGHT Tokens Now

Crypto Portfolio Diversity

Why stop at one penny cryptocurrency? Some investors choose to spread the risk involved with such uncertainty by creating a diverse portfolio of low-cost tokens.

This is much easier to achieve with cryptocurrencies that trade for $1 or less. 

That said, investors must still conduct plenty of research to gain an understanding of each project and the risk involved.

Where to Buy Alternative Penny Crypto Coins

In addition to the above walkthrough - which describes how to buy the best crypto under a penny, it is also worth looking at established projects that are already listed on tier-one exchanges.

When choosing an exchange for this purpose, investors should consider metrics surrounding safety and legitimacy, as well as trading and deposit fees, ease of navigation, market diversity, features, and more.

Overall, we found that eToro is the best place to buy penny cryptocurrencies - here’s why:

eToro - Reputable Broker With Selection of Alternative Penny Cryptocurrencies

eToro is a long-standing online brokerage that is reputable and trusted by over 25 million traders and investors. Although crypto markets are not governed by a regulatory framework, this platform does hold a license from multiple bodies to operate.

This includes the SEC, FCA, ASIC, and CySEC. As such, this gives investors the peace of mind that they are dealing with a legitimate and professional trading platform. 

There is a small commission fee to be aware of when buying cryptocurrencies at eToro, which stands at 1% per buy or sell order.

The platform offers multiple markets, such as stocks, indices, ETFs, commodities, and forex. Stocks are commission free, as are ETFs. Unfortunately, any investors hoping to find the best crypto penny stocks to buy will not find them at eToro.

This is because cryptocurrency penny stocks are classed as OTC assets, and eToro doesn’t offer these. That said, there are many crypto assets listed at eToro. This includes large, medium, and small-cap penny cryptocurrencies.

One of this broker's stand-out passive investing features is Copy Trading. This sees the investor allocating some funds to Copy Trading and subsequently mirroring the trades of a seasoned trader.

There are many traders that focus solely on cryptocurrency trading. Another option is Smart Portfolios. This entails allocating $500 or more to a crypto-based basket of assets, thus having a ready-made portfolio as a result.

Investors can fund an eToro account for free in the US. Those located anywhere else will need to pay a small 0.5% fee. Deposit methods are inclusive of e-wallets like PayPal and Skrill, as well as ACH, wire transfers, and also credit/debit cards. Deposit minimums start from just $10.

Buy crypto on eToro

To Conclude

Throughout this guide, we've taken an in-depth look at 17 of the best penny cryptos currently available. While each project we've mentioned shows promise, one asset, in particular, could explode upon its release. 

Our top pick for the best penny cryptocurrency is Meta Masters Guild (MEMAG) - a Web3 mobile-focused gaming platform. The platform will feature a PvP racing game, an NFT fantasy game and a metaverse ecosystem. 

Priced at just $0.007, MEMAG is set to increase by 228% to $0.023 by the final presale round. 

FAQs

What is a penny cryptocurrency?

A penny crypto is categorized as a digital currency that is trading at $1 or less per token. Some crypto assets that fall within this category possess a large market capitalization - such as XRP and Cardano. This is directly linked to the number of tokens issued by the project. 

What is the overall best penny cryptocurrency to invest in right now?

The best penny cryptocurrency to invest in right now is MEMAG - the native token of Meta Masters Guild. Currently, in stage one of its presale, MEMAG is priced at $0.007. The price will increase to $0.023 by the final stage, equating to a 228% price hike.

Where is the best place to buy penny crypto?

The best place to buy penny crypto will depend on whether the project is listed on an exchange yet. Presale coins usually have a native website to buy from directly and offer low prices. On the other hand, if the token is already listed on an exchange, the best place to buy penny cryptocurrencies is via eToro. 

How can I invest in penny cryptocurrencies?

The best cryptocurrencies are listed on reputable and regulated online exchanges. If, however, the penny cryptocurrency is still in its presale, then a purchase can be made directly on the provider’s website. 

Which penny cryptocurrency will blow up?

While it's impossible to predict the future exactly, FightOut has all the markings of a blue-chip cryptocurrency and could explode following the release of the FightOut app.