When people talk about investing in cryptocurrencies, they first think about Bitcoin and Ethereum, both of which are worth thousands of dollars at this point. That is way too much for any regular person to buy even a single coin. And, while you can certainly invest virtually any amount of money and hold only fractions of these coins, many seem to believe that the opportunity to invest in the crypto giants has passed.
However, there are still other coins worth investing into — those whose price can still be measured in mere pennies right now, while holding the potential to go quite high up in months and years to come. The crypto industry is filled with hidden opportunities, and today, we wanted to look into some of the top penny cryptocurrencies to invest into this March. We will focus only on the best coins we could find whose price is under $1 at the time of writing. Hopefully, that will soon change for many of these cryptos.
1. Dogecoin
The first on the list is Dogecoin — the original memecoin. Dogecoin was created back in 2013, and it was based on a joke — on a meme featuring a Shiba Inu. Its creators released it to lighten up the mood in the cryptocurrency industry, which was becoming quite serious and threatening to take the industry in a darker direction.
Its own developers did not expect the coin to last for more than a few weeks, or months, at least, since it had no real utilities, it did not try to solve any problems, it was just a funny version of Bitcoin and nothing more than that. However, DOGE somehow became the favorite crypto of the industry, and it survived for nearly a decade.
In fact, in 2021, it became one of the largest cryptos by market cap thanks to supporting from Elon Musk who took a liking to it, and the revival of its own community. Now, even the Dogecoin Foundation got reformed, and it is currently working on improving the project. At the time of writing (March 1st, 2022) Dogecoin’s price sits at $0.132.
To learn more about this token visit our Investing in Dogecoin guide.
2. Stellar
In the second spot, we have Stellar. Stellar is another rather old cryptocurrency that was created in 2014. The project was created with the idea of making international transactions quick, cheap, and available to everyone. In fact, it is very similar to Bitcoin in that regard, but the difference is that Stellar is a lot faster and more scalable, capable of processing transactions almost instantly, while Bitcoin itself takes 10 minutes to solve a block. As a result of this speed, there are never transactions that are waiting for their turn to be processed, so there are no high fees that would attract the miners.
However, Stellar is not considered Bitcoin’s competitor, but XRP’s with the biggest difference between the project being that Ripple — the company behind XRP — is offering its services to the banks around the world, while Stellar serves people directly, without third parties for people to go to.
Despite its features and capabilities, however, Stellar is quite undervalued these days, with a price of $0.19 at the time of writing. It currently sits as the 31st largest cryptocurrency with a market cap of nearly $5 billion, so it is definitely a very lively project worth investing in.
To learn more about this token visit our Investing in Stellar guide.
3. Hedera
In the third spot, we have Hedera, which was developed to be a sustainable enterprise-grade public network for a decentralized economy. Its goal is to offer businesses and individuals the ability to develop powerful decentralized applications, and it was developed to be a more efficient and fairer system than most of its competitors.
Most of these older cryptocurrencies suffer from instability and slow performance, whereas Hedera aims to eliminate those problems from the crypto sector by offering services unbothered by them. It was founded in August 2018, with the launch of its mainnet taking place just over one year later, in September 2019.
It has a native token called HBAR which is used to power its services, including file storage, smart contracts, as well as regular transactions. It can also be used to help secure its network through staking, which can be quite rewarding for investors who receive rewards for investing in the project and staking its cryptos.
To learn more about this token visit our Investing in Hedera guide.
4. Gala
Halfway down the list, we have Gala, or Gala Games, which is its full name. As the name suggests, the project is focused on the gaming industry, which it plans to take in a different direction by granting the control of the games back to the players. Essentially, the project’s mission is to develop blockchain games that players will actually want to play.
The current gaming industry is heavily centralized, and Gala sees that as a problem. The project believes that it is not right that the players will first pay for expensive games, and then spend even more money on various accessories and in-game assets, when all of it can be taken away from them at a push of a button. Instead, it aims to reintroduce creative thinking and grant players control of the game and its in-game assets through blockchain technology and its products, primarily NFTs.
Those who use its blockchain for playing games also get the ability to influence the project. In other words, owning Gala’s NFTs grants governance rights to the players, allowing them to access the voting mechanism, create proposals regarding the project’s further development, and voting on the proposals that other people have created.
So far, Gala has only released one game called Town Star, and an NFT collection called VOX. However, it plans to release a lot more games in the future, which could result in the growth of its token. Right now, the GALA token’s price is only worth $0.26, meaning that this is the best time to buy some of them. After that, all that investors need to do is play the game and wait for the opportunity to cash out once the price goes up.
To learn more about this token visit our Investing in Gala guide.
5. The Graph
Moving forward to the fifth spot, we have The Graph, which is an indexing protocol for querying data for various networks that require such services, including Ethereum. The project is capable of powering all kinds of different applications as part of its services, both in DeFi and in the broader Web3 ecosystem.
The project allows basically anyone to create and publish open APIs, which it calls subgraphs. Applications can query these subgraphs through GraphQL and retrieve blockchain data from them. There is also a hosted service that is currently in development, which makes it easy for the devs to start building on the project’s network.
So far, The Graph has reported the development of over 3,000 subgraphs for all kinds of dApps, including Aragon, Uniswap, Synthetic, and many others.
To learn more about this token visit our Investing in The Graph guide.
6. Chiliz
Nearing the end of the list, we have Chiliz, which is another token worth only pennies, but one with great potential. It is a leading cryptocurrency for sports and entertainment, developed by a fintech provider from Malta. It operates a platform called Socios, developed on the blockchain for sports and entertainment.
Socios allows users to participate in the governance of their favorite sports clubs and teams, and all that is needed is to hold some of its CHZ tokens. The platform features multiple fan tokens, sports clubs, and associations, with the fan tokens offering a way of connecting with their fans and unlocking new revenue streams while cutting out the middlemen, which are various companies that serve as intermediaries between the fans that the sports brands today.
As for how the fans can influence clubs, it is usually done through polls and surveys, and that can mean anything, such as voting what message the captain should wear on his armband during matches. It is an interesting token meant to build up a community around sports brands, empower the users, and allow them direct access to their favorite teams and players. Unfortunately, it seems like its time has yet to come, as the token’s price is currently at $0.18. On the other hand, this offers a great opportunity for fans to invest in it while its price is still extremely low.
To learn more about this token visit our Investing in Chiliz guide.
7. Oasis Network
Finally, the last on our list is Oasis Network. Oasis is a privacy-enabled, scalable layer-1 blockchain network. In fact, it is a leading network of this kind, and it offers a number of advantages to its users. By using the project, you get to enjoy very low gas fees combined with high throughput, and secure architecture.
The project emerged as a way to power scalable decentralized finance, revolutionize Open Finance, and expand it beyond just early adopters and traders, turning it into a mass market. Oasis is currently in the process of attracting developers and users, and it launched a $200 Ecosystem fund to support any projects that are trying to build on its network.
Oasis might be the project of the future, and if you find it interesting, now is the time to invest, while its price is still only $0.25.
To learn more about this token visit our Investing in Oasis Network guide.
Conclusion
With that, we conclude our list of the top 7 penny cryptocurrencies to invest-in in March 2022. As you can see, there are plenty of coins with great potential, even if their prices are not measured in hundreds of dollars, or even dollars themselves. These are coins that anyone can afford, now, but in the long term, their value could go high up and reward the investors for the trust put into them.
Opinion pieces are based on the author’s personal opinion, and they do not constitute investment advice, financial advice, or trading advice. Investoryspot.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Conduct your own due diligence and consult a financial advisor before making any investment decisions.
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