Explain the Penny cryptocurrencies in your own words. Advantages and disadvantages.

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Answer

Penny cryptocurrencies

These are the cryptocurrencies with a value of $ 0.99 or less. As a result, many of these penny digital assets can be purchased and stored for a few dollars. Penny cryptos are thought to be a good alternative investments since they can be profitable in a limited period of time. While not all penny cryptocurrencies generate large profits in a short period of time, some can take longer than anticipated to generate profits. There is also a strong possibility that the project may fail, which is the risky aspect of penny cryptocurrencies.

Advantages

1. With just a small growth rate in demand, investors should expect high returns from these penny cryptocurrencies.
2. The price used to be very low when the coin is newly launched. Providing opportunities for investors to buy.
3. You can buy and store many of these penny cryptocurrencies for a few dollars.
4. Those who choose not to put all their eggs in one basket can easily buy a variety of penny cryptocurrencies without investing a lot of money, raising their chances of profiting from various projects.

Disadvantage

1. Growth is not 100% guaranteed.
2. Investing in penny cryptocurrency carries a high level of risk.
3. A single major investor may dump the coin, causing it to lose value.
4. It's very unpredictable.
5. sometimes, making profits takes longer than anticipated.

F or you: What will be the best Penny to invest in this 2021? Explain and show evidence.

Answer

TRON (TRX)
Sentimentally, TRON has always been my favorite asset that I believed in, and I love it.

Technically, Tron (TRX) was once an ERC-20 token built on Ethereum network, but now has its own platform called TRC.
TRX remains very cheap and is likely to hit a minimum of 1 dollar in the near future. Tron's price increased from $0.03 in 2020 to $0.14, which has benefitted many, as Tron's price has recently fallen to $0.07, it would be a big benefit now to purchase.

Let do some fundamental analysis on Tron

The brain behind this project

Justin Sun, the founder of the Tron Foundation, is a young and talented businessman with a remarkable career background for someone so young.

Transactions on TRON

TRX transactions, like those of many other digital currencies, are recorded in a public ledger. Any transaction can be tracked. Tron progressed by enhancing the Bitcoin transaction model with additional security systems known as UTXO model

How safe Is TRON netwotk?

You should relax and be calm with the Tron platform because it hasn't been tainted by any controversies or scandals. It seems that a significant percentage of the project's budget is devoted to the project's security.

Of what use is Tron?

The Tron network is now currently supporting a wide range of applications and games. Tron is been used in a forum for content creators, and it is also widely used for transactions, because Tron charges no fees for TRX transactions.

Do a Ripple (XRP) analysis. Show screenshots. Would you invest right now? Explain.

Answer

The Ripple framework is an open source transaction protocol. The Ripple is a centralized network that benefits users with quicker and less expensive transactions because it charges low fix fees for all transactions. This which has made it attracts more users and investors. The Ripple protocol Consensus Algorithm is the machanism used by Ripple. Ripple is a cryptocurrency that can be used to swap other cryptocurrency pairs in different trading platforms.
Ripple has abandoned decentralization ideas, and its developers have complete control over these tokens.

Ripple coin can be used to make payments that are both easy and inexpensive. The network's commission is by far low compared to other crypto assets, and transaction speeds are significantly faster. It's also a good choice for making low-cost international transfers. Though XRP transactions and transfers are not as common as Bitcoin,but, I think it will be better suited as a payment instrument as token adoption improves.

Pro of Ripple cryptocurrency

1. Ripple cryptocurrency has achieved and maintained the highest transaction speed.
2. Ripple has a low risk of hacking or other forms of illicit coin mining.
3. With Ripple coins no inflation.
4. The transaction fee is both low and fixed.
5. Ripple's coin can be exchanged for other cryptocurrencies as well as fiat.

Cons of Ripple cryptocurrency

1. Highly decentralized
2. currency rates manipulate is possible, because their Lab decides when and whether to release coin

Would I invest right now?

I would not invest. Because I am into cryptocurrency and blockchain to enjoy decentralization, which XRP does not offer, moreover, they are also having issues with the SEC, which doesn't make now a suitable time for investment.

Present in detail a possible investment of 5 penny crypto assets. Explain and present data confirming your choice.

Answer

I. TRON (TRX):
The Tron network provides a workaround for content creators who are frustrated by censorship or other problems associated with centralized content channels.(Further information has been presented above)

II. Steem:

Steem is another penny currency and looks promising.
Steem is a Cryptocurrency that is used in rewarding content writers on the steemit decentralized social platforms.
Steem can also be earned through investment in steem power and using the power to vote quality contents, therefore, as the author claims rewards after seven days of writing, a certain percentage will be giving to the investor for voting the article.
Steem current value is $0.5976 And on No 153 in coin rank list according to market cap.
Steem price has been doing good for the past 4 months and surely, as many more people are onboarding steemit platform, and it's gaining popularity, we can expect more pump in price in times to come.

III. DogeCoin:

DogeCoin has been doing wonderfully well recently. Right from time, this coin price was very low prices; however, it has taken a turn around and it's value has increased in miraculously.
current value is $0.338 And on No 6 in coin rank list according to market cap.
I believe that won't be the end of it, as a result of the celebrity endorsements, more investors will definitely come in and this definitely result in it's value increasing the more.

IV. Shiba Inu (SHIB):

SHIB has been one of the fastest growing coins lately and it's fame has begun to spread across blockchain. Shiba Inu was born from an experimental project. And it's aim is to outshine it's competitors.e.g Dogecoin.
SHIB current value is $0.000007722 And on No 34 in coin rank list according to market cap.
Shiba Inu is presently working on creating their own exchange platform, and I believe that would have positive impact on the price as well. SHIB also have good team of developers. SHIB seem to be a good investment option, even with with Binance, KuCoin and Huobi listing it on their exchange platforms already.

V. BITTORRENT (BTT):

TRC10 token BTT was created on the TRON blockchain. The initial goal of BTT is to tokenize the largest file-sharing network on the planet. BTT tokens are awarded to users who share entire files stored on their storage device.
BTT can be traded and exchanged for other cryptocurrencies.
BTT current value is 0.003707 And on No 44 in coin rank list according to market cap.
BTT looks promising, with many investors still observing because development work is still ongoing. It might take a little time, but BTT looks very promising.

Show an investment (starting at $ 5) that you have made this week in Penny cryptocurrencies. List the steps you took.

Answer

The investment I made during the week that worth over $5 is Shiba Inu. Below is the image showing my investment

Shiba Inu has been one of the latest penny cryptocurrencies that are awesome and analysis made us believe that this asset has a promising future. Nothing is certain in the crypto world, but since it is a penny currency, I bought thousands of the token with just $11.
Below are the steps I took in buying it and I have made some screenshots to back it up.
I signed into my Binance account. If you don't have a binance account, you can sign up here.
I have some stable coins in my wallet. I reserved it to be my capital, that I can make use of it when necessary to make investments or trading.

Here, I clicked on the menu option at the right corner of the coin, and select trade.

Here, I clicked on the pair of coin I want to use for my spot trading.

I Selected buy. That is because I want to buy SHIB

Here is where I input the price and I select buy SHIB.

Conclusion

I have learned so much from the lecture held by @pelon53. Special thanks to the Prof for this week's lecture.
I believe with the knowledge of penny cryptocurrencies, I will be able to make wise decisions concerning my investments from now on. Thanks