5 BEST PENNY CRYPTOCURRENCY TO BUY NOW – ALTCOINS WITH HIGH POTENTIAL 2019
There are more than 2500 cryptocurrencies available in the Blockchain market. Everyone is looking to buy or invest in the cryptocurrencies which offer similar gains as offered by the Bitcoin.
Sadly, it is impossible to predict any other cryptocurrency will see the same astronomical growth that Bitcoin experienced over the last few years.
But don’t lose heart there are still few penny cryptocurrencies to buy now which can potentially return 10x-100x of their initial investment.
In this article, we will specifically look for the best cryptocurrencies to buy now which are valued under $1 (Which we also called as penny cryptocurrency) and can explode in the near future
Mind it not every penny cryptocurrency i.e. valued under 1$ will explode in the future.
But after a little bit of exploring and research, I have listed 5 Best cryptocurrency to buy now which has the potential to return higher profits and are currently priced under 1$
Things considered before choosing the best cryptocurrency to buy now under 1$.
Before buying a cryptocurrency it is important to consider the business proposition of the crypto startup (The platform which launches the cryptocurrency).
Try to give a good look at the team behind the project. Their experience, mission, and plan to accomplish the mission.
Before investing in the cryptocurrency, learn about the underlying technology and the main function of the cryptocurrency. Whether it is launched as the ‘security token'( like a stock of a company) or ‘utility token’ ( coins redeemed for the services).
Study the cryptocurrency whitepaper
According to Wikipedia
A white paper is an authoritative report or guide that informs readers concisely about a complex issue and presents the issuing body’s philosophy on the matter. It is meant to help readers understand an issue, solve a problem, or make a decision
- Give a deep insight into the total supply of the cryptocurrency and the circulating supply of the coin. Total supply means the maximum amount of coins that can enter the market.
While circulating supply means the total amount of coins currently available in the market.
Both these figures become important in evaluating the value of the crypto project. The cryptocurrencies with low price generally have a high number of the total supply.
Analyzed the past price trends of the cryptocurrency to buy now. History tends to repeat itself.
The price trends of the cryptocurrency give precise info that how low the price of a cryptocurrency is bound to get. It helps in managing the risk involved while investing in the cryptocurrency.
The final resource before choosing the “best penny cryptocurrency to buy now” is the cryptocurrency community itself.
I have gone through the tons of public sentiments and comments on various cryptocurrency public forums and talk sites.
5 BEST PENNY CRYPTOCURRENCY TO BUY NOW WITH HIGH POTENTIAL 2019
1. RAVENCOIN–
Ravencoin is the first best penny cryptocurrency to buy now in 2019.
Ravencoin whitepaper compares their tokens to the ravens of Westeros (Games of Thrones)
The name Ravencoin itself is inspired by the world of Westeros from Game of Thrones.
“Ravencoin is a peer-to-peer blockchain, handling the efficient creation and transfer of assets from one party to another”
As ravens used to send statements of truth from one party to another similarily Ravencoin is designed to prove the authenticity of an asset.
Ravencoin is a fork of Bitcoin and therefore uses Bitcoin’s UTXO model. But there is a huge difference between Ravencoin and other altcoins.
Bitcoin blockchain also allows transferring assets on their blockchain. But Bitcoin and other altcoins are not specialized for this purpose.
Ravencoin specializes in to create and trade any real-world asset like (Gold) and digital assets like (games software, gift cards, etc) on the network.
DIFFERENCES BETWEEN RAVENCOIN AND BITCOIN
The number of coins issued is 21 Billion in comparison to 21 Million Bitcoins.
The block rewards time is reduced to 1 minute which is 1/10th of the Bitcoin block time.
Ravencoin uses X16R algorithm. It prevents ASIC mining. Whereas Bitcoin uses the SHA-256 hashing algorithm.
The basic difference is the Assets (tokens) can be created by Raven protocol users without the need for mining. But each token should have a unique name. The unique asset token is created by burning a specific number of Ravencoin.
Currently, it requires 500 Ravencoin to issue an asset. The tokens can represent any real-world asset like (Paintings, gold brick, land deeds, etc ) or the digital assets like ( gaming software, virtual gift cards, etc) and much more.
Another major difference is Ravencoin-system (Bitcoin-like system) prevents someone from accidentally destroying the asset (tokens) and there is no need to send Bitcoin with every transaction which is charged as a transaction fee.
REASONS TO INVEST IN RAVEN COIN
The Ravencoin ecosystem provides proof of ownership to the assets you transfer on the network. Whether you transfer them to your friend’s wallet or to an exchange wallet.
The assets can’t be destroyed.
Unlike other cryptocurrencies, you will not charge with a transaction fee in the case of transfer of RVN tokens.
The Ravencoin project is heavily backed by Overstock.com.
Overstock.com is a cryptocurrency firm that specializes in finding the big crypto project. Overstock has put millions of dollars into teams for Ravencoin.
Check the complete market statistics of the Raven coin
2. BITSHARES (BTS)
Bitshares token (BTS) is second on the list of Best penny cryptocurrency to buy now with high potential in 2019.
Bitshares is a decentralized exchange launched in 2014 earlier known as “proto shares’.
It is an open-source financial platform or trading platform that works on Blockchain technology.
The main benefit is you can stick with your traditional trading paradigms along with the advantages of the decentralization and security through Consensus mechanism of the Blockchain Technology.
Unlike Bitcoin, BitShares’ main goal is not to be a peer-to-peer currency.
But Bitshares is a smart contract network where tokens may be exchanged for BTS which can intern be exchanged for bitAssets, smart coin related to real-life assets like Bit-USD, Bit-GOLD, silver, shares, etc.
Hence, the businesses can create shares of their company via the BTS blockchain. If a company makes the profit than these tokenized shares can be delivered as dividends to the holders.
Bitshares also overcome the slow transaction speed of Bitcoin currency with no extra transaction fee.
The network is capable of handling 100,000 transactions per second which are higher than the Visa and MasterCard networks put together.
A block is created in 3 seconds whereas Bitcoin takes 10 minutes, Litecoin 2.5 minutes and Ethereum 15 seconds.
BTS is also pegged to US dollars the same as in the case of Tether.
Hence if you hold Bitshares BitUSD, your money is pegged.
Unlike Tether blockchain which is centralized and got hacked in the past.
But as Bitshares network is decentralized hence you can’t lose your Bit-USD even if network got hacked as you own your tokens.
BitShares is developed by the computer scientist Dan Larimer who has developed EOS along with STEEM.
Undoubtedly Bitshares network has a lot of potentials to make a significant impact on the cryptocurrency world.
BTS is currently priced at $0.0625. You can expect a high return 10x to 100x in the coming years.
Check the complete statistics of the BTS
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