Over the past few years, many investors have consistently turned to cryptocurrency as their first choice. As a matter of fact, the 24-hour trading volume on Binance is reported to be around 18.84b USD. However, investing in penny cryptos gives investors with limited funds and the chance to enter the market.
In case you’re not aware, cryptocurrencies priced between a penny and $5 are referred to as penny cryptocurrencies. Investors have been clinging to a number of less expensive alternatives because penny crypto stocks have the potential to explode and increase greatly in value over time.
These stocks are well-liked because they present an opportunity for everyone to acquire shares in a corporation at extremely low costs. The market has seen a sharp rise in penny stocks as a result of the rise of investors.
So, let’s dive into the best options of penny stocks you can choose to buy before 2023.
Top 8 Crypto Penny Stocks to Buy Before 2023
The first meme coin with a metaverse, a platform-integrated NFT store, and P2E (Play-to-Earn) capabilities at the top of our list with token utilization is TAMA.
Tamadoge is a penny cryptocurrency that focuses exclusively on giving investors utility as a form of value. The cryptocurrency is made to appeal to investors and recreational gamers with its creative and entertaining play-to-earn game.
Investors have complete faith in Tamadoge, as evidenced by the enormous amount of demand the TAMA presale experienced and the expanding Telegram and Twitter accounts.
TAMA has already confirmed a listing in the centralized exchange (CEX) LBank, and in the upcoming years, it plans to list numerous other securities. TAMA, which trades at $0.0000000003, emerges as the top penny stock to buy before 2023.
The fact that TAMA is a deflationary asset is one of its benefits. TAMA’s long-term supply will be lower than that of Dogecoin, which has increased its maximum supply from 100 billion to 132 billion tokens.
Every time a player spends Tamadoge on something from the Tama store, 5% of that amount is burned. The remaining 65% of the tokens are distributed among the P2E prize pools as rewards, with an additional 30% of the tokens being used for marketing.
2. Crypto Snack
The second-best penny cryptocurrency to purchase this year is Crypto Snack, the iGaming token with the fastest global growth. Since partnering with CoinsPaid in February of this year, it is now accepted as payment on over 800 online business platforms.
Leading cryptocurrency payment processor CoinsPaid offers a small selection of supported currencies like BTC, USDT, and DOGE. CoinsPaid usually does not list low-cap cryptocurrencies, but because of Crypto Snack’s affordable and quick transactions enabled by Binance Smart Chain, it made an exception.
Given that more than 300 of the 800 platforms supported by CoinsPaid are online casinos and betting companies, they think this could revolutionize the iGaming sector.
Cardano uses smart contracts, like Ethereum, to support a variety of DeFi protocols, applications, games, new cryptos, and more. It boasts a cutting-edge and effective network where other users review the applications and protocols before being added to the network.
As a result, the network is very dynamic, adaptable, and responsive to new crypto technologies. The Alonzo upgrade and the integration of smart contracts, among other developments, have improved the network’s capabilities and increased adoption.
The cryptocurrency known as ADA fuels this blockchain protocol. Users of the token have received sizeable returns at a low entry cost, yielding a high return on investment. Investors can purchase the ADA token right now for just $0.446445, despite the fact that its all-time high was $3.1 in 2021.
Companies can develop dApps that integrate with the Internet of Things with the help of VeChain. The project’s goals state that “Blockchain technology is one of the foundations for the next generation of information technology, alongside emerging technologies such as AR, VR, AI, IoT, 5G and more,” among other things.
VET is currently trading at $0.022136, a significant decline from its all-time high of $0.2782 set in 2021, making it the best penny cryptocurrency to purchase before 2023 gets underway.
VeChain has a wide range of practical applications in industries like food and beverage, fashion, and automotive. The technology has already been adopted by numerous well-known businesses and governmental organizations, propelling the network’s adoption to new heights.
5. DeFi Chain
DeFi Coin is one of the top penny cryptocurrencies available right now and is a completely community-driven project. The decentralized finance (DeFi) ecosystem was intended to be strengthened when this penny cryptocurrency was introduced in July 2021. More platforms are adding DeFi Coin to their listings.
There will only be 100 million DeFi Coin tokens made available. So how does it function? The DeFi Coin project uses manual burns, reflections, and LP acquisitions. These functions are intended to maintain the health of the DeFi Coin ecosystem.
This token powers the DeFiCoins.io website. The Binance Smart Chain serves as the foundation for DeFi Coin. This enables the project to take advantage of the swift transaction speeds of the blockchain, as well as low gas prices.
The purpose of Polkadot is to decentralize the web and make it easier for goods to move easily between chains. The interoperability of DOT with various independent blockchains is an impressive feature.
This network is a great option for developers because of its customized blockchain development, energy efficiency, and cross-chain and para-chain combination.
Polkadot would also become a significant player in the crypto industry as Web 3.0 gained traction, making it a wise investment before 2023 even starts. Once people begin using the token in Web 3.0 applications and services, its value will soar.
Another factor in the increase in DOT’s value is the Polkadot blockchain’s ongoing development. Given that DOT would reach new all-time highs with the expansion of the Polkadot DeFi sector, the penny cryptocurrency currently offers investors a cost-effective entry point.
Mediarex Group, a company for global sports, and entertainment which was founded in 2006, owns Chiliz as a subsidiary. The team produced 8.8 billion Chiliz tokens in October 2020 after nearly two years of invention and development. With a market cap of roughly $1.4 billion as of this writing, Chiliz is one of the cryptocurrencies with the greatest potential.
In general, there seems to be a rise in investor interest in tokens linked to the entertainment industry. So how does it work? Users can easily participate in the blockchain platform by trading Chiliz for “Fan Tokens.”
As a result, for those looking to invest in sports tokenization, this is the best penny cryptocurrency to purchase.
8. Lucky Block
Lucky Block, which was only made available in January 2022, is already posing as one of the best sub-dollar cryptocurrencies with explosive potential. Here is why this is one of the best penny cryptocurrencies to get before 2023.
The platform for cryptocurrency games and competitions uses distributed ledger technologies to enable faster, frequently instantaneous transactions where “everyone wins” in prize draws. Regardless of the quantity of game prize money won, comprehensive documentation and monitoring are also required.
Additionally, the blockchain reduces the risk of data loss or destruction by validating both players and tickets. The expenses associated with maintaining conventional prize pools are high, which frequently affects payouts and the amount of money required to award prizes.
The fact that penny cryptocurrencies offer profitable returns with only a small investment is one of their many benefits. Therefore, before 2023 starts to produce profitable returns, invest in these top penny cryptocurrencies. Tamadoge seems to stand out the most on our list.