Best Penny Cryptocurrency to Invest in 2022

There are plenty of cryptocurrency traders who are always looking for new and best penny cryptocurrencies to invest in. While sometimes Bitcoin and Ethereum can provide 40%-50% returns within a few months or even a few weeks, their potential ROIs are considerably low compared to low-cap crypto projects. 

Yes, if you get lucky, you can find a penny cryptocurrency that can provide returns up to 1000% or even more. But, just like everything else in life, greater rewards come with greater risks. That’s why it’s not easy to find a penny cryptocurrency to invest in, especially in 2022, when the bears have taken over the market for most of the year.

In the below guide, we put our analysis on all the top penny crypto for you to consider.

Note: this article is not financial advice. While we have analyzed all the tokens on this list, you should always do further research on your own and make investments based on your own situation and risk management.

Below you can check our list of the top 12 penny cryptocurrency to buy. 

Before we get there, we just want to explain one thing. Our definition of penny cryptocurrency is every token that currently trades under $1, with less than a $25 million market cap - at the time of this article’s publication.

This list will be periodically updated since low-cap cryptocurrencies are usually very volatile, and their momentum can change very rapidly.

1. Nym
2. Voxel
3. Star Atlas DAO
4. Despace (DES)
5. Melos Studio
6. Opulous
7. Hacken Token

Nym is a privacy-centric cryptocurrency that tries to address privacy from the infrastructure perspective. Nym is one of the most underrated penny cryptocurrencies at the moment. Nym mixnet is a decentralized network with three separate layers. Nym mixnet fundamentally blocks traffic analysis and prying eyes from every capable organization, even the NSA itself.

Why are we optimistic about Nym? Well, Nym is still trading under $25 million of market cap at the time of this article’s publication, and each token is priced below $0.35. This is a hidden gem since it’s funded by big names, such as a16z, Binance Labs, and Huobi Ventures. If there’s any privacy-centric project that can make it big in the next market cycle due to its massive backers, it is Nym.

Voxel is the native cryptocurrency of the free-to-play tactical RPG video game called Voxie Tactics. Unlike most other cryptocurrency games, Voxie Tactics has been designed from the ground up to be fun and attract casual players. The in-game mechanics, such as PvP battles and crafting mechanisms are among the best of crypto games.

Voxel has all the good recipes to be successful since it has big names behind its developing company, AlwaysGeeky Games. Its CEO, Steven Ball, used to be the team lead for the technology group online at Ubisoft. 

The company was also funded by Binance Labs, which gives Voxel a competitive advantage compared to other penny cryptocurrencies to invest in. With less than a $21 million market cap and less than $0.32 for each token, Voxel is a hidden gem.

If there’s any cryptocurrency game that can help Solana to gain more popularity, it is Star Atlas. This game used to be the most hyped game back in August-September 2021 since it promised the hype of Unreal Engine 5. Many people made a huge ROI since the token was trading over 80x of its IDO price.

However, the token price slowly went down, and it never had any chance to go back up again due to 2022’s bear market. And between its two tokens (POLIS and ATLAS), the governance token (POLIS) is hugely underrated. 

At the time of this article’s publication, POLIS is still trading under a $9 million market cap, and each token is priced below $0.42. Considering the massive war chest its team has, they will be ready to hype themselves up in the next market cycle.

Despace Protocol has been making great progress despite this not being reflected in the token price. Deswap is finally live and gives full incentives to all the liquidity providers (LPs). Other components of Despace Protocol are also still in constant development and will be released despite the bear market.

At the time of this article’s writing, the DES token is still trading under $0.025, and its market cap is still struggling at under $40,000. With $3 million in total funding, in the beginning, Despace still has enough funds to be able to turn their token’s fate around.

If there’s any legitimate use case for NFT, it should be for the music industry. The Verge earlier published an article stating that the music fans embrace the NFT mechanism even though NFT itself is getting a lot of hate from the gaming community. 

And despite its disappointing token performance in 2022, MELOS has all the recipes to be one of the leaders in the music NFT industry. It is backed by Binance Labs, and it has launched high-profile official NFTs such as those from the Queen and Wu-Tang Clan.

Another startup that’s trying to make it big in the crypto music industry is Opulous. It uses a different approach compared to Melos since it tries to combine the concept of DeFi loans with NFT deployment. Opulous teams up with big artists and asks them to release NFTs through the Opulous platform, and in return Opulous provides DeFi loans to the same artists for the funding of the music that gets released.

Opulous has great fundamentals to be successful because its core team members are experienced names in the traditional music industry, mainly coming from Ditto Music. They also have high-profile names in the advisory section, such as former Sony Music CEO and Chance The Rapper.

Hacken is one of the most underrated web3 cybersecurity platforms. Just like all of its competitors, Hacken had big names under its client list, including FTX, Kyber Network, Sandbox, Polkastarter, 1inch, and many more. It is a proven smart contract auditor.

Its token, however, is not doing very well. It is still trading under $0.02, with a market cap of less than $10 million at the time of this article’s writing. Hacken can easily go up again if they can maintain their relevance in the cybersecurity space.

There are other names that also have enormous potential to become the next best penny cryptocurrency to invest in. However, we believe the seven names above have the best potential and ingredients to get some success. Keep in mind that this is not financial advice, and you should do more thorough research by yourself before you decide which penny cryptocurrency you want to put your money into.

Interested in our analysis? Kindly check out our next cryptocurrency to explode in 2023 article, where we also put our in-depth analysis on bigger cryptocurrencies in the market.