It’s a good time to be a crypto investor. Values are at record highs. And access to altcoins has never been easier. But that doesn’t mean there aren’t still deals to be found out there. There are plenty of penny cryptos to watch. That being said, just like penny stocks, penny cryptos are a risky investment. For the most part, they’ve got a small market cap. There is also a low amount of trading volume. This means they can be volatile. However, anyone that’s been trading cryptos for a while should be accustomed to some level of volatility already.
Furthermore, the penny cryptos below are speculative. But we picked them for this list because they have strong underlying technology. That is to say, they haven’t caught on quite yet. But they have a promising future should wide-spread adoption take place. And with a strong use case, adoption for the cryptos below seems likely.
So without further ado, let’s take a closer look at five penny cryptos to keep an eye on…
Five Penny Cryptos to Watch
- Basic Attention Token (BAT)
- Dent (DENT)
- Joe (JOE)
- VeChain (VET)
- Vee Finance (VEE)
Basic Attention Token
First on our list of penny cryptos to watch is Basic Attention Token. With a market cap around $1.6 billion, it pales in comparison to the likes of Bitcoin and Ethereum. And it’s currently trading for less than $2 a token.
But what we like most about BAT is that it is built around the idea of providing privacy in a web browser. More specifically, the browser, Brave. We expect privacy to become a growing concern among the connected. Especially in light of governments not doing much to protect individuals’ privacy. So right off the bat, there’s a lot to like about Brave. And here’s how BAT figures into the equation…
Brave blocks ads and all tracking by default. However, users of the web browser that agree to see ads can enter into an agreement that will pay them in BAT. It’s a way to make a little money in return for being a consumer. Even a non-paying one. Furthermore, digital marketers that want to pay for ad placement on Brave use BAT in order to get their content displayed on the browser. Basic Attention Token has established a self-contained business model. However, it’s going up against the likes of Google’s Chrome, which has a market share of more than 67%. But if privacy concerns grow as we’re expecting, it wouldn’t be surprising at all for Brave to catch on. And in the process, boost the value of BAT.
Next up on our list of penny cryptos to watch is Dent. Again, this token has a dynamic use case. The team behind the crypto has created a global mobile data platform. It’s also created an eSIM card that can get people access to the internet. All you have to do is drop it into your iPhone.
The beauty of this is twofold. First, the goal of Dent is to eliminate mobile contracts and roaming fees. Going to Spain for a week? No problem. No roaming fees there. The list of countries this service works in has already grown to 60. And we anticipate that list to grow in the coming months and years. The other aspect we like is the pay-for-what-you-need model. Because this project is blockchain based, users own their data. And they only pay for what they want or need.
Dent has also introduced its own crypto exchange where users can swap Dent for other cryptos – and vice versa. Above and beyond using Dent to trade for other cryptos, the Dent token is also used to pay for eSIM data or in the Dent Gigastore.
It’s nice to see a group of talented developers taking on the seeming duopoly of mobile service providers. And if Dent catches on, we expect this token to take off in the process. There’s already 25 million Dent users. And as word spreads, we don’t anticipate too many folks staying loyal to the mobile carrier provider.
Joe has seen a lot of price fluctuations since it was released earlier this year. And right now, it’s trading at a discount. With a market cap of just close to $300 million, Joe still has a lot of room to grow. And we expect it to do just that.
Joe is the governance token behind the Trader Joe (not that one) crypto exchange. This exchange focuses on the Avalanche blockchain. Crypto expert Andy Snyder equates an investment in Joe to picking up shares of Google (Nasdaq: GOOG) early on. Early investors in Google had a hard time understanding how a piece of software could crawl through the internet and serve up the best information for user’s searches. But now everybody knows what a search engine is. The same might happen for this little-known crypto exchange. It’s quickly outpacing much of the competition. Even though this is another speculative investment opportunity, it’s still one of the best penny cryptos to watch for sure.
Supply-chain issues are disrupting all sorts of industries. Certain medicines are hard to come by. Food shortages are popping up left and right. They’re even impacting holiday shopping. And things aren’t expected to get better anytime soon. However, VeChain is hoping to be able to change some aspects of the supply-chain narrative.
Manufacturers are already looking for better ways to keep track of their stock. And VeChain offers a way to do just that. It is a smart contracts platform with a laser focus on supply chain management. It helps the producers of goods add sensors to products in order to record data onto the VeChain blockchain. While this won’t help clear the long queues at international harbors. It can give manufacturers and retailers peace of mind as to where items are in the process. And that’s why this is one of the more interesting penny cryptos to watch. At at less than $0.20 a token, it’s an easy investment to give a shot.
This penny crypto to watch has the goal of filling the gap between DeFi and traditional banking. As you’ve probably read, big banks are already working hard to close the gap between modern and traditional finances. If crypto is to become a staple in mainstream America’s financial future, it will have to tie in with traditional banking in some ways. And Vee Finance is looking to play a major role in building that bridge.
That being said, it’s going to have to step up its security in a big way. The Vee Finance platform was hit for an exploit of roughly $35 million this past September. And that naturally sent the value of this crypto tumbling. However, there is reason for optimism. The token has been rapidly gaining steam as investors’ worries are assuaged. Nonetheless, it’s still trading at a respectable discount from its highs earlier in the year. This is truly a speculative investment opportunity. Another exploit could ground this project for good. But if its security measures are as beefed up the development team say, there’s no reason to worry. And lots of reason to get excited about the possibility of this coin’s future.
The Bottom Line on Penny Cryptos to Watch
We’re not gonna mince words. There’s a lot to like about these penny cryptos to watch. Each of them fills a useful void. Who doesn’t want better internet privacy standards? Is there anyone besides John Stankey and Hans Vestberg that wouldn‘t like to see more options in the mobile service provider space? Same goes for better supply chain management tools. And the more crypto exchanges the merrier. Especially if they’re easy to use and offer wide access.
All in all, these five cryptos have a lot of promise. We think they’re worth the gamble. But if widespread adoption of any or all of the technologies doesn’t catch on, any of them could just as easily go under. But we look forward to seeing where they all are a year from now.
If none of these cryptos scratch the itch for you, there’s more where they came from. In fact, by entering your email in the box below, you can sign up for Manward Financial Digest. It’s a fast and easy way to stay up-to-date on the analysis from crypto expert Andy Snyder. He’s been eyeballing what he predicts to be the next-generation of cryptocurrencies. If you’d like to learn more about them, sign up today.
About Matthew Makowski
Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about the markets for 20 years. Equally comfortable identifying value stocks as he is discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since honed his focus on the cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dog, Dorito.