Would you like to jump straight to the answer? You can buy sub-penny cryptocurrencies on Binance!
Just because a cryptocurrency is worth less than a dime doesn’t mean it’s worth investing in. Nor does it mean that you are an early investor; Many sub-penny cryptocurrencies have market capitalizations worth hundreds of millions, if not billions of dollars.
This is due to the amount of coins in circulation. Some cryptocurrencies have a maximum supply of one trillion tokens, so these assets won’t even hit $ 1 per coin anytime soon. Read More
What are altcoins?
The term altcoin refers to cryptocurrencies other than bitcoin. The term is derived from “alternative coin”. Most investors don’t consider Ethereum an altcoin, however, as it falls into its own category due to its large market cap and robust DeFi ecosystem.
There are many sub-categories of altcoins in the cryptocurrency industry. One of the hottest categories of altcoins right now are meme coins like Dogecoin, Shiba Inu, and Elongate. When investing for the long term, staying away from trending meme coins can be a good idea.
Some of the more promising types of altcoins are DeFi (decentralized finance) tokens such as Uniswap, Aave, Compound, and MakerDAO. These cryptocurrencies have real utility and generate revenue through smart contracts on Ethereum.
One of the newest categories of altcoins is Binance Smart Chain tokens. These tokens are only available from PancakeSwap and many of them have prices well below 1 cent. However, many of these coins do not have a Minimum Viable Product, and their values are determined purely by speculation.
Market capitalization vs. token price
Although getting into a cryptocurrency like SafeMoon at a price of $ 0.0000039 per token can be attractive, market capitalization is really important when it comes to a cryptocurrency’s growth potential. SafeMoon has an initial amount of one quadrillion tokens. Even if SafeMoon grew to a trillion dollars (by market capitalization), each token would still be worth less than a dime.
How to use a decentralized exchange
Some altcoins like SafeMoon and Shiba Inu can be purchased through a decentralized exchange (DEX). To use aa DEX you need to download an Ethereum wallet on your computer; MetaMask is the best option as it has a Google Chrome extension that makes it easy to interact with the Uniswap and PancakeSwap exchanges.
Since your MetaMask wallet is set to the Ethereum network by default, Uniswap is a bit easier to use than PancakeSwap. All you have to do is send Ethereum to your MetaMask wallet address and you’re good to go.
Once your money is in MetaMask, go to Uniswap.org and navigate to Pools. Instead of creating an account with Uniswap, you need to connect your wallet to the website. After you’ve connected your wallet, find the token you want to buy and enter the amount you want to buy.
Once your transaction has been approved, the tokens should appear in your wallet within a few seconds. You may need to add the cryptocurrency token address to your wallet to keep track of your money, which can be done through MetaMask’s interface.
Before using PancakeSwap, you need to connect your MetaMask wallet to Binance Smart Chain. If you need help connecting your wallet to PancakeSwap, see How to Buy SafeMoon for more information.
After you have connected to the BSC network, you can connect your wallet to pancakeswap.finance. Once connected, you can trade BEP-20 tokens through PancakeSwap in a similar way to Uniswap.
Best cryptocurrencies for less than a cent
- Tooth (TOOTH) has created a global marketplace for mobile data as well as eSIM cards to enable users to access the internet. Since the project is based on blockchain, users can really own their mobile data and only pay for what they need. The project has already gained over 25 million users, and each Dent token costs just ⅓ cents with a market capitalization of $ 345 million.
- HOLO (HOT) offers an alternative distributed ledger technology for hosting smart contract platforms. In addition, HOLO is environmentally friendly. Sustainability has become more important given Elon Musk’s comments on Bitcoin’s energy consumption, which is why coins like HOLO are getting more attention. You can buy HOLO today for less than a dime and receive a substantial discount from its all-time high of almost 3 cents.
- SafeMoon (SAFEMOON) is the cryptocurrency that popularized the control mechanics for Binance Smart Chain tokens. Every time an investor sells SafeMoon, they are charged a 10% fee that is distributed to pools of liquidity, given to token holders, and burned. This motivates investors to hold onto their position. However, SafeMoon is a high risk, speculative investment with no clear advantages over more established cryptocurrencies. Given the hype and support from influencers, there could still be room for crypto appreciation.
- IOTA (MIOTA) has a current market price of $ 1.14, but that price is technically for 1 million IOTA. The platform differs from other cryptocurrencies in that its distributed ledger technology is not a blockchain. This enables fast payments and immense scalability while maintaining the security of the distributed ledger technology. In the future, IOTA wants to be the medium of exchange for the Internet of Things (IoT) for processing micropayments, an industry with enormous growth potential.
- Shiba Inu (SHIBA) has grown in popularity following Dogecoin tweets from celebrities like Elon Musk. While Shiba is viewed as a meme coin, it is more functional than Dogecoin. In addition, its market capitalization is much lower than that of DOGE. Since Shiba Inu is an ERC-20 token on Ethereum, the platform aims to build a DeFi ecosystem called ShibaSwap. ShibaSwap will allow investors to use their Shiba Inu tokens for interest in the near future.
Since most of these sub-penny cryptocurrencies are smaller-cap coins, they are not available on most US-based cryptocurrency exchanges such as Coinbase, eToro or Gemini. Instead, you need to open an account with Binance to start investing.
Dent, HOLO, Iota, and SafeMoon all require a Binance account to invest. To create a Binance account, you will need to provide personal identification information to comply with the Securities and Exchange Commission (SEC) regulations. It can take a few weeks to approve a Binance account, but given the variety of cryptocurrencies on the platform, it is worth the wait.
If you want to visit Shiba Inu before the ShibaSwap platform launches later this summer, you will need a crypto.com account to buy SHIBA. Once you’ve bought Shiba, you can send it to a cryptocurrency software wallet to use your funds on ShibaSwap to earn interest.
1 minute review
Crypto.com is committed to making cryptocurrencies a part of everyday life by offering a full range of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi Swap, DeFi Wallet, DeFi Earn, Crypto.com Price, Staking, Crypto Lending and many other services. However, what really sets them apart is the combination of super low fees and incredibly generous rewards programs for their users.
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- Low fees
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Store your cryptocurrency securely
Since centralized exchanges hold your cryptocurrency, they are big targets for hackers. If a purse is hacked, any funds stored on the purse can be confiscated. Many cryptocurrency exchanges have had security breaches in the past that left investors without coins.
To mitigate this risk, you should keep your cryptocurrency in a crypto wallet that you have complete control over. The 2 most common cryptocurrency wallets are hardware and software wallets. Software wallets are applications that encrypt your cryptocurrency on your device, while hardware wallets are physical devices that store your crypto offline.
Since hardware wallets store cryptocurrency outside of the internet, it is the safest way to store cryptocurrency. If you want to invest a significant amount of money in crypto or want to keep your tokens long-term, a hardware wallet is the way to go.
Best hardware wallet: Ellipal Titan
The Ellipal Titan is one of the most secure and user-friendly hardware wallets on the market. In contrast to other wallets, the Ellipal Titan has neither a Bluetooth connection nor a USB connection. Instead, the Ellipal Titan uses QR codes to send and receive crypto, which offers a level of security that other wallets simply don’t have.
The wallet has multi-currency capabilities, which means that you can store a variety of cryptocurrencies in the wallet without the need for multiple devices. The Ellipal Titan is similar to a smartphone with a large touchscreen that you can use to track your crypto portfolio. Additionally, Ellipal is currently running an offer on its flagship wallet that will save you $ 30 off the normal price.
Altcoins vs. Bitcoin
In general, altcoins are riskier investments than bitcoin. Bitcoin has much more mainstream adoption than any other cryptocurrency. It also has the largest market cap of any cryptocurrency on the market. If you don’t believe that the altcoin you bought will outperform bitcoin over your investment horizon, then it may be better to just buy bitcoin.
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