Steemit Crypto Academy | CRYPTOCURRENCY PENNY - Homework by @janemorane

HELLO EVERYONE!

How are you all? Today I am going to do my homework task of Steemit crypto Academy Season2 Week#6 for Professor @pelon53, and today's homework is all about Penny Crypto Currency.

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

Penny cryptocurrencies are those currencies which we can take idea from its name any means The currency is which have value less than $1. cryptocurrencies are somehow veryImportant in the world of Crypto currency because all of the cryptocurrencies Who are penny at the time they were launched. cryptocurrencies is very good for investment because it need a small capital for you to invest in Penny cryptocurrencies and you will have a very good profit from a very less investment.Because not everyone have that much large capital or more money to invest in cryptocurrencies having huge prices and high rate so it is always good to invest in Penny cryptocurrencies and get some very good profit out of them. Penny cryptocurrencies are always very profitable but you will have to wait for it since it is a long term investment strategy. Cryptocurrency when it's getting high the risk of your investment doubles with its price because Crypto currency markets are very volatile and we cannot trust the volatility of the markets and other investments in Penny cryptocurrency.

Advantages

1. Penny cryptocurrencies can get a very high profit if you wait for the right time and you invest in Penny cryptocurrencies at a very low price.

2. for investing in cryptocurrency you will not need any large amount of capital but you can start it with some penny.

3. You will not need a large capital for investment and you can make a huge profit by investment with a small capital.

4. As we can see that all the currencies in the start were penny cryptocurrencies so we will not get afraid of of its prize and we can hope that penny cryptocurrencies will grow in future and we can think of of investment in Penny cryptocurrency for long term investment in future.

Disadvantages

1. The disadvantage of investing in Penny cryptocurrencies is its high volatility rate because whenever it jumps to a high rate in a very e less time the same happens to its downfall very quickly and due to a high volatility you can sometimes lose all your capital.

2. If you compare penny cryptocurrencies with other cryptocurrency that disadvantage of investing in Penny cryptocurrency is that sometimes due to high volatility you lose 50-80% of your capital as compared to the other crypto-currency investment. 

3. Most of the Penny cryptocurrencies die in a small period of time just because they are very less in value and many of the investors did not pay attention to them and they die in a very short period of time.

4. Many cryptocurrencies sometimes fail to take their place in the market because of their project ideas. Bitcoin was once a penny cryptocurrencies but because of its Unique idea in the market, it got successful to become the top crypto currency in the market.

   

2.- For you: What will be the best Penny to invest in this 2021? Explain and show evidence.

Video before doing any investment every investor has to do a little research about the coin they are going to invest in after doing a little research on this coin I got to know that trx has its own blockchain and they are using smart contracts to build new project as we all know before this ethereum was the only blockchain which we are providing the services and many users and Developers are moving from ethereum blockchain to Tron blockchain because there are a few reason number 1 grand is more faster than it etherium the second reason is that it cost less because the current value of trx is low and that's why the it cost is very low that's why most of the developers are building their projects on Tron blockchain.

All these points we can clearly see that the idea behind tron is very strong and there will be a really good future for this coin it can make a really good name for itself in the total Crypto currency market and if we invest in this coin right now I can surely say that it will be a really good investment tron will be the next Big coin in the market in upcoming time Super me I clearly believe that tron should be the one investment that everyone should should do in 2021 the current rank of this coin is really good if you look at the coinmarketcap. 

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

Ripple is a very small cryptocurrency but a very important and popular among the investors and the cryptocurrency users. Currently Ripple is in the top 10 cryptocurrencies in the coin market cap and rank on the 7th position in the market. For  this time the ripple price is going down and I think this is the right time to invest in xrp because analysing its market and its history I can clearly say that it will grow and price and because it is now being modifying and growing many investors can take the opportunity to invest in xrp. Xrp is doing Revolutionary things for the betterment of the payment methods in the cryptocurrency markets and due to its Revolutionary work ripple welgrow high Enterprise in the future and if we invest right now we can get a very good profit in the future. another reason to invest in xrp is that it has a good rank in coinmarketcap which means that it is popular among the people and if its prices is low it means that we should invest in it and we know that due to its popularity and its history it well grow back into you are very good price which will then give us a very good profit at that time. 

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

1. Doge

Doge is one of the popular penny cryptocurrency of 2021. the reason of its popularity is that a very popular and fluencer Elon Musk is continuously taking interest and dot coin and he is continuously in contact with its developer and working with them for the development of dogecoin. and due to his interest and coin it is gaining more attention from the the investors.And I think dogecoin is the perfect crypto-currency to invest in 2021 because it will grow in price looking at its popularity and the interest of many popular influencers in the development of dogecoin.

2. Safemoon

Safe moon is currently getting a very good popularity among the people and Now a time its price is very low and its value to is in Cent but I think this is the right time to invest in safe mode because in recent times we have had a lot of people talking about safe moon and it will grow High in prize in the future. If you look at the graph of the safe moon, its value is growing very good and it has made its place in the market and very soon it will also replace dogecoin as many of the people are talking about the popularity and taking interest in investing in safe moon..

3. TRX 

 TRX has a very high place in the cryptocurrency world because many of the projects built on ethereum are moving to tron blockchain. Most of the developers of cryptocurrency market are building their projects on Tron blockchain and it is a very good signal for all the penny cryptocurrency investors that they should invest in trx for the future. trx has already made its place in the market of cryptocurrency and it's blockchain and rate is growing high and will become more popular in the future. That is why I believe to invest in trx for the great profit in the future. 

4. Hive

From my my recent analysis and research on penny cryptocurrencies I got to know that I've is growing very good in its value and it is a very good penny cryptocurrencies to invest in our time because its value you is growing and if we look at the market history and the graph of hive it can give us a very good profit in the future and that's why I suggest to invest in hive for the future and for now. 

5. Steem

Well for me because I know the history and the market popularity of steem and it's high growth in its market value. We can clearly see the bright future of steem in the cryptocurrency market.We can see the market history of steam and it clearly show that it has crossed price of $1 and it has gone very high and crossed $1. its price was about a dollar and we can assume from its market history that steam is going to gain a very good market value and popularity in the future. Currently the price of steem is Down but this is a very good time to invest in steam because looking at its previous market history we can say that it will go high in the future and we can get a very good profit out of it.

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

The investment that I made last week was dogecoin. investment was about $10 at that time but due to the heavy market crash now my investment has come to 4.5 dollars.

STEP #1

On the main page of Binance Exchange click on the trade button in the mid and go to the trade page.

STEP #2

Now there click on the side bar to select the coin pairs you want to buy and which you want to sell and get whatever you want in return so in this way you will get what you want.

STEP #3

After you select your required coin for investment click on the coin you want and than go to select the quantity of the coin you want.

STEP #4

Now before you set your order always remember to set your order at limit because whenever you set a limit at your trade you are charged with less exchange fees than trading at the market rate.

STEP #5

After you set your limit now it time to select how much quantity you want of the required coin.And after you complete all the requirements now you will place your order and click on the buy button and your order is successfully placed.

THANKS FOR YOUR TIME!

With Love
@janemorane