Introduction
With the increasing demand of cryptocurrency in the market, Bitcoin has achieved the maximum popularity, but at the same time, it has become quite expensive to purchase having a soaring price of up to $20,000. So, for this, the online merchants are now looking for alternative options that can give them maximum profits having the same features and facilities like Bitcoin and even more. The alternative options refer to the low-cost alternative crypto coins like LTC, XRP, KIN, etc that are new in the market. In this list, there can also be coins which once did not do well but can be tried again if it is worth for.
Best Penny Cryptocurrency of 2019
The investors have conducted various researches on the alternative options and have come up with some penny cryptocurrencies that is going to bring a lot of benefit in the year 2019. Let’s have a look at the best penny cryptocurrencies of 2019.
Ravencoin (RVN)
It is one of the trusted penny cryptocurrencies, established in 3rd January 2018. It is especially dedicated for the online transfer of valuable assets like gold, software licenses, digital games, etc. The four major features of Ravencoin penny cryptocurrency are:
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Issuance schedule that gives a block reward of 5000 RVN
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Block time for a 1-minute duration
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Coin supply of 21 billion
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Mining algorithm that runs on the X16R algorithm
It uses the UTXO model of Bitcoin but is build on its own Blockchain. The different kinds of Token used by Ravencoin:
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Rewards which can be distributed to your token holders
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Unique Tokens which are authenticated and cannot be duplicated, and
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Non-Asset Tokens which are the communication tokens linked to the assets
These tokens provide security which limits the assets creations, doubles the value of existing coins, and mines the asset creating expenses as per the increased value of the coins. It is good for low-cost penny cryptocurrency to invest in having a price of $0.03USD.
Dogecoin (DOGE)
It is the popular Shiva Inu Meme inspired penny cryptocurrency coin that was launched on 6th December 2013. It has made quite a good popularity in the crypto market achieving a rank of 20th position and a capital amount of $67.92 million.
It is a 4.8 years old penny crypto coin holding a funny picture of Shiba Inu being its authenticated symbol. The key features of Dogecoin are:
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10,000DOGE block reward
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Block time of 1 minute, and
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Unlimited coin creation facility
It is similar to Bitcoins and other cryptocurrency coins like Ethereum, Monero offering end to end secured transactions over a decentralized network. Dogecoin is very user-friendly and requires some basic steps to help you create the wallet.
You can get download wallet links for pcs as well as mobiles. You just need to install them and wait till they get synchronized to your system. Dogecoins can be collected by purchasing, trading, and mining. Websites like Dogefaucet.com and InDogeWeTrust.com helps you get free Dogecoins.
Qlink (QLC)
It uses a decentralized Naas platform and believes in promoting telecommunication infrastructure at an affordable cost. According to Qlink, a huge amount of expense is made for the settings and infrastructure of a telecommunication network which runs the phone devices.
So, Qlink with its Blockchain technology, aims at wifi sharing through QLC tokens which are done through smart contracts. It is a kind of mobile hotspot that brings its users together.
It also facilitates decentralized SMS service, resolves content distribution complications, inaccurate billing, reduces high data charges, and provides a transparent shared telecommunication network. It does that through its telecom assets, Qlink chain, operators, end users, and public chain. It enables faster and flexible transaction through its Block lattice architecture.
QLC coins can be acquired through trading in cryptocurrency exchange platforms like Gate.io, Binance, Kucoin, etc and can be purchased from Coinswitch.
Quantstamp (QSP)
It is an auditing protocol that can be used to verify smart contracts which are the key element in Blockchains distributed ledger system. It is difficult to figure out which smart contracts are beneficial for your business due to its complex and constantly evolving nature. But Quantstamp penny cryptocurrency solves your problem with its guide to create smart contracts.
It manifests that by understanding the scope of your project, your system architecture and audits them for verification. If you have QSP tokens, you get the airdrop facility of audited tokens through their Proof of Caring reward system.
As we know, smart contracts are convertible into codes, so the users utilize the QSP tokens to send their codes having smart contracts to Quantstamp for verification, checking procedures are followed and finally a Poof of Audit is done for the successful verification.
Tron (TRX)
It is one of the best penny cryptocurrencies invented by Justin Sun in September 2017. It highly promotes content sharing through its Blockchain Technology and is inclined mostly towards the entertainment sector.
It follows the same decentralized approach with its TRX tokens like the other cryptocurrencies and is one step ahead by enabling the users to earn money through digital contents. It enables direct transactions between merchants and customers and streamlines web traffic. Tron features content channels that let users upload and save different contents like audios and videos.
These contents enable the user to earn assets by uploading them and hence the content sharing system works. UTXO model supports the transaction system of Tron.
Tron coins can be purchased by trading Bitcoin and Ethereum coins on Coinbase and Coinmama exchange platforms. You can also buy it from Binance.
FunFair (FUN)
FunFair is a penny cryptocurrency inclined towards gaming platform having a decentralized network. It has achieved a rank of 62nd position in the cryptocurrency market having a capital amount of USD 91,719,483. It is famous for its casino games.
It uses Ethereum technology to deliver high-quality transparent solutions at affordable prices. FunFair provides a wonderful platform for the game addicts and online gamblers to trade through the games securely with its end-to-end Ethereum Blockchain technology-enabled network.
The tokens generated by Funfair are termed as FUN tokens that use fate channel and smart contracts to provide faster, secure, and entertaining solutions to the users. You can use the FUN tokens to play several other casino games that use Blockchain technology.
FunFair lets the user create their own casinos and earn money through it quickly due to its easy setup procedure. The fate channel used by Funfair helps you enjoy various games flexibly and efficiently without the risk of getting hacked.
FUN tokens not only facilitates payments but also helps the users to earn rewards. You can obtain fun tokens by setting up your wallet and exchanging the Ethereum coins.
Decentraland (MANA)
It lets you enter a real-time virtual world that is decentralized and an interactive 3D world best to be enjoyed with a VR headset. Decentraland runs on Ethereum blockchain technology that lets you create and manage applications inside the virtual world.
It has an animated environment that allows users to purchase and trade land. It also has an array of activities like listening music, playing casino, driving a car, etc. Here the land owned by the user is run by the smart contracts of Ethereum Blockchain which is divided into coordinates like x and y. The land needs to purchased through MANA tokens. It gives full control to the user to create and build any application there, play games, etc.
The users need to visit the land marketplace to purchase these lands that are further divided into districts and measures 33x33 feet. The regions are actually theme communities. The MANA token helps you purchase various real-time goods and services along with the land. It also lets the users to connect and maintain the land ownership through smart contracts.
MANA can be purchased by exchanging Bitcoins, Ethereum and from Binance. It also has various wallet options like Trezor, Ledger Nano S, and MyEtherWallet.
Bytecoin (BCN)
Bytecoin is an open source penny cryptocurrency that is an ideal choice for private transactions due to its inbuilt security features. It enables immediate transactions that are completely untraceable by any third party. This is because it uses ring signature technology to sign the transactions that make it anonymous and almost impossible to be tracked by any hacker.
It lets everyone participate in its network yet, no one can view from where you are receiving the payments due to the multiple one time address provided to the users. The security feature of Bytecoin is based on the number of computers involved in the transactions and hence it keeps your wallet completely safe being independent of the network.
Bytecoin uses the CryptoNote protocol for its privacy. This protocol is an open source protocol that maintains the confidentiality of digital currencies. It provides 184.47 billion bytecoins or BCN token and has a block time of only 120 seconds.
To purchase Bytecoin, first you need to create a digital wallet that supports Bitcoin and Ethereum. Then, you need to set up an account in any of the popular cryptocurrency exchange platforms for example- Coinbase. From there, you need to purchase Ethereum coins and store it in your wallet. Once you are done with that, you must set up an account in the Bytecoin supported platform like HitBTC and trade the Ethereum coins to have your BCN coins.
Also Read: Best Cryptocurrency to Mine in 2019
Polymath (POLY)
Polymath is penny cryptocurrency that aims in outrunning the restrictions of ICO. It also aims in building a platform where security token can be created and traded anywhere across the world and the borders with no complications.
It operates on ST-20 protocol and involves KYC verification methods for the investors to participate in Security Token Offerings. Polymath is high in demand in today's market due to its security token feature. It has been adopted by many companies as well.
POLY coins can be purchased by linking your digital wallet with Faast and can be obtained by trading Bitcoins and Ethereum.
Cardano (ADA)
It is one of the popular cryptocurrencies in the market having a capital amount of $3,043,063,285. Cardano is an open source blockchain platform that uses a decentralized approach. It is used for an online transaction that helps you to trade ADA coins in a safe and secure environment. Cardano also provides a platform for running financial applications.