The crypto ecosystem of India has been going through a bear market phase ever since the beginning of 2022. The taxes levied on crypto investing along with the massive Terra LUNA incident played their part in the current scenario of the crypto market. The community, as interesting as ever, has come up with a name for this prolonged bear period; Crypto Winter! Now, the crypto assets are among the most volatile, and until the economic stance of the world gathers itself, it is better to be extra careful while one is rebalancing their portfolio, or looking for some of the top tokens to invest in.
Below mentioned are some of the cryptos that have a special name given to them; Penny Crypto. True to what the name suggests, they have been given the name because all of these tokens are valued under $1. Most of the high-valued crypto tokens today had a time when they were penny cryptos as well. To know a little more about each of these assets, let us take a quick look at the most important crypto prices to date!
Also Read: Top 10 Crypto to Invest
|Token Name||Token Type||Current Price*||ATH||ATL||Market Cap**|
|Cardano (ADA)||Native||$ 0.419||$ 3.10||$ 0.0173||$ 14,540,638,610.30|
|Ripple (XRP)||Native||$ 0.313||$3.84||$0.002||$15,041,736,878|
|Shiba Inu (SHIB)||ERC-20 token||$0.000009||$0.00008||$0.00000000008||$5,445,743,579|
|Chilliz (CHZ)||ERC-20 utility token||$0.095||$0.891||$0.004||$577,747,147|
|Basic Attention Token (BAT)||Utility Token||$0.352||$1.92||$0.066||$528,283,300|
All Current Price* and Market cap ** is as of 13 July, 2022.
Take a Deep Dive into the Top Cryptos under $1 (by Market Cap)
Most Sorted After under $1 Crypto in the Crypto Space
What is Cardano?
Cardano was developed by the co-founder of Ethereum blockchain, Charles Hoskinson, who realized the challenges faced by Ethereum. This search led to the launch of the platform in 2015 and the native token ADA in 2017. A decentralized third-generation proof-of-stake (PoW) blockchain platform, ADA is often referred to as one of the most sorted-after altcoins in the crypto space by various crypto enthusiasts. Cardano is the first blockchain platform to evolve out of a scientific philosophy and an evidence-driven approach. It has a strong focus on sustainability, scalability, and transparency; a fully open-source project that aims to deliver an inclusive, fair, and resilient infrastructure for financial and social applications on a global scale.
Recent Cardano Project Updates: To propel the use cases of Cardano, it has recently launched its Vasil Hard Fork update. Cardano’s Vasil Hard Fork is the next step in its plan to improve upon the speed and scalability of the network. This essentially brings the project one more step closer to dethroning the largest smart contract and DeFi platform out there – Ethereum. With this latest upgrade, Cardano’s developers hope to improve the efficiency of smart contracts to make Cardano cheaper and faster to use.
Effect of the Bear Market on ADA: The crypto bear market has seen a consistent fall in the value of ADA with certain spikes in the last three months. However, the change in ADA penny crypto price could have been caused by the investor sentiments regarding the upgrade that was on its way. Now that the upgrade is done and the crypto winter is slowly hoping for an end, according to experts, the crypto community is yet to see a significant change.
Additional Read: Cardano Vasil Fork Update
Check out latest ADA INR Price, Charts, and Data.
One of the Top Crypto under $1 by Market Cap
What is Ripple?
Ripple XRP, a blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz, is a crypto that runs on the XRP Ledger. McCaleb and Britto would then go on to find Ripple and use XRP to facilitate transactions on the network. It is a money transfer network designed to serve the needs of the financial services industry via a decentralized blockchain system. While most other proof-of-work blockchain systems use a ‘mining’ system to reward those validating transactions on the chain, XRP is actually ‘pre-mined’. A total of 100 billion XRP has already been mined and is released to the public in a systematic manner.
Effect of the Bear Market on XRP: The XRP had not been any exception to that of the other assets of the crypto ecosystem. Following the LUNA crash, XRP penny crypto value started to fall and it has been slowly showing signs of recovery with the probability to fall further in value. As there is no date to the bear and bull markets, the answer to ‘When do XRP rise in value?’ varies from person to person. It is advisable to do thorough research before diving into XRP or any other crypto asset.
Check out latest XRP INR Price, Charts, and Data.
Top Penny Crypto Based on Layer 2 Scaling Solution
What is Polygon?
Polygon (formerly known as Matic Network) is a Layer 2 scaling solution for Ethereum scaling and infrastructure development. The project aims to create “Ethereum’s internet of blockchains”, by solving scalability issues of existing blockchains and offers developers with a set of tools to build ultra-scalable and high-performance blockchains and decentralized applications (DApps). Launched in 2017, the Polygon team is led by its co-founders – Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. MATIC coin is Polygon’s native token, which is largely used for paying gas fees, and participating in the blockchain’s governance. Using the Proof of stake consensus mechanism, Polygon is also the only scaling solution that supports the Ethereum Virtual Machine (EVM), which allows different blockchains to easily exchange value and information, and eliminates the technological barriers that exist between most blockchains.
Effect of the Bear Market on MATIC: The bear market has also made its round in taking down the value of MATIC to $0.54 as of 13 July, 2022. However, this penny crypto has been performing within the green candles for the past one week and experts are seeing some signs of recovery since the crash.
Additional Read: MATIC Whitepaper Summary
Shiba Inu (SHIB)
One of the Top Cryptos under $1 of the Meme Category Tokens
What is Shiba INU?
Shiba Inu (SHIB), also referred to as ‘dogecoin killer’, is a coin created to be a direct competitor to dogecoin. An anonymous person under the pseudonym Rayoshi created SHIB in August 2020 as an experiment in decentralized governance. 50 % of SHIB’s maximum supply of 1 quadrillion was pooled with 10ETH on Uniswap. And the key to this liquidity pool was thrown away, whereas the other 50 percent was sent to ethereum founder Vitalik Buterin, who burned 90 percent of the tokens he received and donated the rest 10% to social causes across the globe. Shiba Inu is now being developed as a community effort by 10 pseudonymous developers. A governance token called BONE and a utility token called LEASH was launched as part of SHIB’s decentralized exchange – ShibaSwap.
Effect of the Bear Market on SHIB: The infamous meme penny crypto coin made some serious noise when it was launched in 2020. The value of these tokens has not taken a major hit, however, since April 2022, the value has seen a mix of highs and lows. The implementation of the taxes on crypto transactions in India has also led to the cause of these tokens losing out on their values.
Top Crypto under $1 which is an ERC-20 Utility Token based on Ethereum Blockchain
What is Chilliz(CHZ)?
CHZ was founded in 2017, by Alexandre Dreyfus, whose explicit goal with the company is to “work harder than ever on our mission to fully establish Fan Tokens as the ultimate fan engagement tool and as a powerful new revenue generator for the sports industry.” Chiliz is one of the leading digital assets that operates the blockchain-based sports entertainment platform called Socios. This platform enables users to participate in the governance of their favorite sports brands. Sports clubs and associations, open doors for fans to engage directly with their teammates. For example, fans can participate and influence club-related decisions by getting a chance to take part in surveys and polls, such as messages the captain should wear on his armband. The main aim of the organization is to bridge the gap between being an active player and being a passive player. Using the CHZ tokens the fans not only get to be closer to the players but literally get to have a stake in their club.
Effect of the Crypto Bear Market on CHZ: If the value of Chilliz is to be looked at since the LUNA crash took place, the value of this penny crypto has been on a downward spiral. However, the asset has seen some positive responses since last month and some in the last week, according to CoinMarketCap data. With Premier League and La Liga on the way, it is an interesting space to keep an eye out for.
Top Penny Crypto used for Processing Transactions on the Blockchain Network
What is Zilliqa(ZIL)?
Zilliqa, first conceived by Prateek Saxena, an assistant professor at the National University of Singapore School of Computing, was first launched in 2019. The blockchain that claims to be functioning on a sharded network is a permissionless blockchain that has been designed to provide high output along with the ability to complete thousands of transactions in a second. The Zilliqa blockchain aims at working toward the scalability and the speeding issue while incorporating sharding as a second-layer scaling solution. ZIL, the native token of the Zilliqa blockchain, is put to use for processing transactions on the blockchain network and executing Smart Contracts. According to CoinMarketCap findings, as of 2021, the Zilliqa network is an active network that has been running over millions of transactions every month. The blockchain has also seen a constant scaling, going from an average of over 900 blocks produced in a day when its mainnet was launched to presently producing over 2500 blocks in a single day.
Effect of the Crypto Bear Market on ZIL: The ZIL network has been no stranger to the bear market effects. This penny crypto asset has seen similar ups and downs as the rest of the penny cryptos mentioned above with few improvements in the last 24 hours.
One of the Top under $1 Crypto to Buy in 2022 with Low Transaction Fees
What is Stellar(XLM)?
The payment protocol, XLM, is based on a distributed ledger technology that was launched in 2015. It is an open-source development that is community-owned and is distributed by the community. The crypto asset of the Stellar platform, XLM, helps with cross-border transactions, overcoming the problems of high fees and slow procedures. XLM is more focused on assisting individuals to transfer money than they are on institutions. In simple words, Stellar offers access to financial systems, and people can send money at low cost and promptly around the world. To remain active in the network, XLM holders have to hold at least one token. This protocol is in place to ensure that the network maintains its high level of security. This nuance helps them in performing a global goal, the execution of network transactions efficiently and with minimal time costs.
Effect of the Crypto Bear Market on XLM: The Stellar (XLM) blockchain had an interesting run since the beginning of the bear market. If looked at the consolidated data, the penny crypto token had a steady downward trend. However, the past month and week has been showing some positive signs for XLM to improve on the value.
Additional Read: 8 Cryptos with Low Transaction Fees
Basic Attention Token (BAT)
Top Penny Crypto that powers a new Blokchain-Based Digital Advertising Platform
What is Basic Attention Token(BAT)?
The Basic Attention Token (BAT) is an ERC-20 token, founded by Brendan Eich and Brian Bondy — two highly distinguished individuals in the internet browsing software industry in 2017. The BAT token powers a new blockchain-based digital advertising platform that has been designed to fairly reward the users for their attention along with providing advertisers with a better return on their spending on various ads. The Basic Attention Token (BAT) is in itself a unit of reward in the advertising ecosystem. It is then exchanged between advertisers, publishers, and users. The advertisers pay for their advertising campaigns using BAT tokens, from where a small portion is distributed to the advertisers, while 70% of it is distributed among the users. While those are being distributed between advertisers and users, the intermediaries which are the cumulative reason to drive up advertising costs, are cut out of the equation to improve cost-efficiency.
Effect of the Bear Market on BAT: The journey of BAT penny crypto has been interesting since the Bear market started in May. The token’s value fluctuated quite a lot during the last 3 months while maintaining somewhat stable value graphs.
Amongst the Top Cryptos under $1 with Built High Scalable and Lower Transaction Fee Blockchain Network
What is Tron(TRX)?
General Information: Tron, founded in 2017 by Justin Sun, is also a digital currency that follows the path of the Ethereum blockchain. But it aims to build a secured and trusted crypto ecosystem for users. Tron has zero platform fee and like ethereum, it is an open-source blockchain platform. Tron focuses on the digital creator space and entertainment sector. Tron is a crypto that follows the path of Ethereum but aims to build a secured and trusted ecosystem for content creators. What Tron offers is a platform where creators have access to clients who pay them directly. There is zero platform fee, and content becomes less expensive and easily accessible for consumers. What’s noteworthy about Tron is its focus on reducing the cost of publishing and accessing digital work. Its low level of decentralization and security is not a complete flaw. It is because of this that Tron can perform cheaper and faster transactions. Unlike Ethereum, Tron is thus a highly scalable and fast network with a lower transaction fee.
Effect of the Crypto Bear Market on TRX: From a technical standpoint, TRX penny crypto is still managing to hold on, despite wider market bearish pressures. So much so, it has managed to recover over 24% since the second week of June and still holding strong.
Additional Read: Tron Price Prediction
Working Towards Disrupting the Traditional Models of Businesses
What is Vechain(VET)?
VeChain (VET) was founded in 2015 and finally launched in 2017 with the native token VET, by Sunny Lu. VET is a versatile enterprise-grade L1 smart contract platform. The VeChain blockchain aims to use distributed governance and Internet of Things (IoT) technologies in creating an ecosystem that will help in solving major data hurdles for multiple global industries. The industries could range from medical to energy, food & beverage to sustainability and SDG goals. Working towards leveraging the power of trustless data, VeChain has been building the digital backbone that will underpin the fourth industrial revolution, which demands real-time and trustless data sharing between many participants. VeChain is working towards disrupting the traditional models of businesses. It’s best known for its work in the supply chain, an industry that has changed little over the many decades. VeChain’s work in providing a decentralized trust layer for multi-party ecosystems has already seen major successes with high-profile clientele and government bodies.
Effect of the Crypto Bear Market on VET: VeChain’s value has been weavering in the bear market scenario. With a steady rise and fall in the price of VET, this top crypto under $1 is in a volatile position as of now.
How to Invest in Penny Cryptos in India
Now that we have looked into a cumulative study on all the 10 top Cryptos under 1 dollar, let us make sure we have all the points in mind while exploring crypto investing apps to create a watchlist for tokens that pique the interest. Here’s a quick step-by-step guide on how to invest in penny cryptos in India.
- Step 1: Create an account on CoinDCX App
Download the CoinDCX app and click on ‘Sign Up/Log In’. This page will require an email id, phone number and password.
- Step 2: Verify with KYC
Once you’ve created an account, you will need to complete the KYC. This is to be compliant with the government rules and regulations.
- Step 3: Add Funds
Only after completing your KYC will you be able to link your bank account to your CoinDCX wallet to add your INR funds.
- Step 4: Search for Cryptos under $1
Once you’ve added your funds, choose any one of the above-mentioned penny cryptos to start exploring them. Add them to the Watchlist if you want to buy/sell them when they have reached a certain price.
- Step 5: Click on ‘BUY’
Once you have done your research, click on the coin, type your amount, and swipe on BUY!
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to email@example.com.
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