Unveiling the Top Penny Cryptocurrencies to Invest In for 2018

In the year 2018, the cryptocurrency market experienced a rollercoaster ride, with numerous projects emerging and disappearing in the blink of an eye. Amidst the chaos, many investors were left scratching their heads, wondering which penny cryptocurrency to invest in. This article aims to provide insights into the most promising penny cryptocurrencies of 2018, helping you make informed decisions for your investment portfolio.

1. Litecoin (LTC)

Litecoin, often referred to as "silver to Bitcoin's gold," is one of the first cryptocurrencies to be launched after Bitcoin. Its main advantage lies in its faster block generation time, which is approximately 2.5 minutes compared to Bitcoin's 10 minutes. This feature makes Litecoin more suitable for everyday transactions. In 2018, Litecoin saw significant growth, and it was one of the best penny cryptocurrencies to invest in.

2. Bitcoin Cash (BCH)

Bitcoin Cash was created as a result of the Bitcoin Cash hard fork in 2017. Its primary goal was to increase the block size limit, allowing for more transactions to be processed simultaneously. In 2018, Bitcoin Cash experienced a surge in value, making it another excellent penny cryptocurrency to consider for investment.

3. Monero (XMR)

Monero is a privacy-focused cryptocurrency that provides users with complete anonymity. Its advanced cryptographic techniques ensure that transactions are untraceable, and the sender, receiver, and transaction amount remain private. In 2018, Monero gained popularity among privacy-conscious users, making it a solid investment choice.

4. Cardano (ADA)

Cardano is a blockchain platform that aims to offer a more secure, transparent, and sustainable alternative to existing cryptocurrencies. It utilizes a unique proof-of-stake algorithm, which consumes less energy than traditional proof-of-work systems. In 2018, Cardano made significant progress in its development, making it an attractive penny cryptocurrency to invest in.

5. IOTA (MIOTA)

IOTA is a cryptocurrency designed to facilitate the exchange of data and value between devices, making it ideal for the Internet of Things (IoT). Its unique tangle consensus mechanism eliminates the need for miners, making it energy-efficient. In 2018, IOTA experienced a meteoric rise in value, making it one of the best penny cryptocurrencies to invest in.

6. Tron (TRX)

Tron is a blockchain-based platform that aims to decentralize the internet, empowering creators and users. It allows for the development of decentralized applications (DApps) and smart contracts, similar to Ethereum. In 2018, Tron experienced rapid growth, and its potential to revolutionize the entertainment industry made it a valuable penny cryptocurrency to consider.

7. Chainlink (LINK)

Chainlink is a decentralized oracle network that connects smart contracts to real-world data. It enables smart contracts to interact with external data sources, allowing for more versatile applications. In 2018, Chainlink's partnership with major companies and its growing user base made it a promising penny cryptocurrency to invest in.

8. VeChain (VET)

VeChain is a supply chain management platform that utilizes blockchain technology to improve transparency and efficiency in the supply chain industry. Its unique features, such as anti-counterfeiting and traceability, have attracted investors looking for a tangible use case for cryptocurrencies. In 2018, VeChain was one of the top-performing penny cryptocurrencies.

9. Ontology (ONT)

Ontology is a blockchain-based platform that aims to create a decentralized, trust-free, and self-sovereign digital identity system. It is designed to provide a foundation for various applications, such as identity management, data sharing, and digital assets. In 2018, Ontology's progress in its development and partnerships made it an intriguing penny cryptocurrency to consider.

10. Binance Coin (BNB)

Binance Coin is the native cryptocurrency of the popular cryptocurrency exchange, Binance. It can be used to pay for transaction fees, participate in token sales, and access exclusive features on the Binance platform. In 2018, Binance Coin experienced significant growth, making it a valuable penny cryptocurrency to invest in.

Q1: How can I determine the potential of a penny cryptocurrency?

Answer: To assess the potential of a penny cryptocurrency, consider factors such as the project's team, technology, market demand, partnerships, and real-world use cases.

Q2: What is the risk involved in investing in penny cryptocurrencies?

Answer: Investing in penny cryptocurrencies carries a high level of risk due to their volatility and speculative nature. Prices can skyrocket, but they can also plummet rapidly.

Q3: How can I protect my investments in penny cryptocurrencies?

Answer: To protect your investments, diversify your portfolio, conduct thorough research, and stay informed about the market. Additionally, use secure wallets and follow best practices for online security.

Q4: Are penny cryptocurrencies a good long-term investment?

Answer: The long-term potential of penny cryptocurrencies varies. Some projects may become successful and offer substantial returns, while others may fail. It is crucial to research and analyze each project before investing.

Q5: How can I stay updated on the latest developments in the cryptocurrency market?

Answer: Stay informed by following reputable cryptocurrency news websites, joining online forums, and following influential figures in the industry. This will help you stay updated on the latest developments and make informed investment decisions.