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Top 10 Penny Cryptocurrencies to Watch for Gains this Spring

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Opinion pieces are based on the author's personal opinion, and they do not constitute investment advice, financial advice, or trading advice. Securities.io 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.

Top 10 Penny Cryptocurrencies to Watch for Gains this Spring

Crypto investing is a big game these days, and it can result in massive gains if you choose the right project. Of course, it is too late for regular investors to go for coins such as Bitcoin and Ethereum. Even though they are nowhere near the heights that experts believe they can achieve, you still need a lot of money to buy any amount that would be considered worthwhile.

Instead, it is best to turn to the so-called penny cryptocurrencies – coins and tokens whose price is still rather low, for example up to $5. We have gone even further than that, choosing coins and tokens whose price is lower than $2 per token. The goal is to find and review as many of these cryptos as possible, and hopefully find one or more that will eventually skyrocket and reach greater heights.

Of course, hoping that any of them would ever reach Bitcoin’s heights is not realistic, but if a coin or token is worth a penny today, and it has great enough potential, it can perhaps reach $1, or $5, or even $10 someday, returning huge gains on your investment. We cannot guarantee that any of the cryptos we have selected for this list will see that happen to them, but we see their potential and believe that there is a chance of it happening. Look into them with us, and if you find the same potential in there — you will perhaps get a better idea of where to invest for the future.

1. Ankr

The first on our list is Ankr, which is a decentralized blockchain infrastructure provider that has an entire array of nodes all over the world. These nodes are distributed over 50 Proof-of-Stake networks, and such a unique infrastructure is meant to help drive the growth of the digital currency economy. At the same time, it powers a suite of multi-chain tools meant to help Web3 developers come up with new solutions for the future, decentralized internet.

Furthermore, the project also offers certain benefits to its users, such as the ability to engage in staking and other yield-earning opportunities. It makes such opportunities simple and accessible to everyone, in order to make it easy and attractive even for those who don’t have any prior experience with blockchain, or a technical background that would help them understand blockchain technology on their own.

To learn more visit our Investing in Ankr guide.

2. Enjin Coin

Next up, we have Enjin Coin. Enjin is a rather big project in its own right already, but its price is still only around $1.5, making it a great investment opportunity. The project aims to provide an ecosystem of interconnected, blockchain-based gaming products. Its flagship product is the Enjin Network, which is a social gaming platform that users can utilize to create new websites, chat, clans and groups, and even host stores where virtual items can be sold and traded.

Essentially, the project is targeting game developers who may be interested in tokenizing in-game items on Ethereum’s network. If this is what they want, then Enjin is the perfect place to go and do that.

To learn more visit our Investing in Enjin Coin guide.

3. Ultra

Next, we have Ultra — a publishing platform and ecosystem for video game content, as well as video games themselves. The project is targeting the growing blockchain gaming industry. Its goal is to help this new form of gaming expand and grow, and to remove the monopoly of publishing platforms such as Steam. Platforms like these make it impossible for game developers to independently offer their games, while joining Steam and similar platforms require massive fees for the gaming companies.

Ultra offers a solution that would be more equitable to players and developers alike, where players can immediately start playing the games, earn the project’s native UOS token, and access various games. Meanwhile, the devs get more effective market tools, and a potential to see 20% higher sales revenue.

4. Audius

In the fourth spot, we have Audius — a project that wishes to do something similar as Ultra, only it doesn’t target the gaming industry, but the music industry. The music industry is filled with problems and inefficiencies, where the biggest problem is that various intermediary companies that stand between artists and their communities do the least amount of work and take the biggest amount of money.

Audius offers an alternative platform where artists can upload their music for free, and allow their fans to access it for free. Meanwhile, the platform is rewarding artists for their contributions. The project also has future plans to allow artists to offer premium content that would be optional for the fans to access and enjoy for a small fee.

To learn more visit our Investing in Audius guide.

5. WAX

Halfway down the list, we have WAX, which is a purpose-built blockchain created to make e-commerce transactions simpler, safer, and faster. With digital shopping going big over the last decade or two, and especially during the COVID-19 years, all inefficiencies of traditional finance methods for supporting it became rather clear to everyone. This is why WAX emerged, with custom features and incentive mechanisms available thanks to the blockchain technology that encourages e-Commerce transactions in the best way available.

6. Dock

For the sixth spot, we selected Dock — a platform that offers simple-to-use solutions for businesses and developers to create, manage, and preset digital credentials that can be verified instantly with blockchain technology. These solutions can be used to safely and immutably store any sensitive information, from users' identities to their medical information and history, and much more.

The project is run by trusted validators, and it offers to solve a number of problems, while at the same time, it also provides benefits such as governance rights, the ability to share who sees your personal data, and how much they can access, and more.

7. Cardano

Moving on to number seven, we have Cardano. Cardano is another one of the major cryptocurrencies, and for a brief period last year, it even climbed up to the top 5 largest cryptos by market cap. However, as far as the value per token goes, Cardano is actually extremely undervalued.

The project just launched smart contracts on its network last October, but before its price could start growing thanks to all the new use cases and an increase in popularity and usage, the crypto industry suffered a major crash that reduced the prices of most coins to their new bottoms. In other words, Cardano doesn’t only have the potential to bounce back up, but it can even go beyond its former levels, as soon as the market allows it.

To learn more visit our Investing in Cardano guide.

8. Dogecoin

In the eighth spot, we have Dogecoin. This is the crypto industry’s first and oldest memecoin, or a meme cryptocurrency that was created as a joke in 2013. While nobody expected it to live for longer than a few months, it somehow survived nearly a decade, and in 2021, it even skyrocketed and became one of the best performers of that year.

Dogecoin also inspired an entire sector of memecoins that emerged in 2020 and 2021 as a consequence of Dogecoin’s popularity. The unexpected DOGE growth also led to the rise of interest in the project, the return of its developers, and even the creation of the Dogecoin Foundation, which came out with the statement that it has big plans to improve the project, while still leaving it in the community’s hands.

To learn more visit our Investing in Dogecoin guide.

9. Fantom

Nearing the end of the list, we have a project called Fantom, with is a directed acyclic graph (DAG) smart contract platform that aims to provide DeFi services to developers through its own consensus algorithm.

The project is a smart contract platform for dApps, and digital assets that was created to be an alternative to Ethereum’s slow chain that suffers from scalability issues to this day. Therefore, its goal is to overcome the limitations of older blockchains, but without sacrificing scalability, security, or decentralization. Fantom might be one of the largest Ethereum competitors, as it aims to truly solves all the problems that the ETH network is experiencing.

To learn more visit our Investing in Fantom guide.

10. Oasis Network

Finally, as the last on our list, we have the leading privacy-enabled, scalable layer 1 blockchain network called Oasis Network. This is a project that combines low gas fees and high throughput with a secure architecture to offer the foundation for Web3. It also powers the DeFi and GameFi sectors, non-fungible tokens, metaverse, Data DAOs, Data tokenization, and more.

Its goal is to help propel the development of Web3, and help it grow by scaling it. It wishes to take the next version of the internet from infancy to maturity, and be one of the projects that are the most responsible for its growth and success, which makes it one of the best protocols to invest in for the future.

To learn more visit our Investing in Oasis Network guide.

Conclusion

With that, we conclude our list of top 10 penny cryptos that you can consider buying in hopes of achieving major gains in months to come. Of course, due to the unpredictable nature of the crypto industry and the fact that any new development can cause a rally or a crash, it is impossible to say anything with certainty.

What we can say, however, is that each of the listed projects has great potential due to various reasons, whether their mission, technology, or popularity. With that, we leave you to do your own research and form your own conclusions, and then, should you find one or more coins worthy of your investment, we encourage supporting them now, before they skyrocket and become a missed opportunity.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.