The Homework Task Steemit Crypto Academy Week 14 - Homework Post for @pelon53

WHAT ARE PENNY CRYPTOCURRENCY?

Just as the name implies, Penny cryptocurrencies are crypto coins or tokens that have their value usually below one dollar. In other words, they are cryptocurrencies that have they market cap value to be less than a dollar.

From studies, we can say the most of the cryptocurrencies in the market are penny cryptocurrencies. The ideal is to find Penny cryptocurrencies that will sprout out or increase with time and also with regards to the market cap.

That being said, we can say penny cryptocurrencies are best "buy and hold investments"
Logically, we can say that all penny cryptocurrencies are altcoins but not all altcoins are penny cryptocurrencies.

ADVANTAGES

Promising large profits or returns: This One obviously one of the most important pros of investing in penny cryptocurrencies or any trade at all.

Penny cryptocurrencies that are newly released are usually priced to be very low and as such tends to lure investors.

It may seem logical to invest right away BUT only if it appears to be promising and important and the only way to figure it out is by keeping an eye on the new penny cryptocurrency by making research and reading their media coverage and white papers.

A Chance For Passive Income: Buying crypto coins at their earliest stages, (that is, as penny cryptocurrency) will aid you remain at a position of advantage to other traders; it means that you will make more profit investing in penny cryptocurrency than other traders, suppose the coins tends to be very promising. When you buy some of these coins less than a dollar and hold on to them over a long period of time, you earn alot of money.

DISADVANTAGES

High Risk and Risk of a Rug Pull: Just as we all know, taking risks are part of trading, that's why we must know how to manage our risks most especially in a rug pull situation. A Rug Pull is more like a harmful or dangerous move made by crypto developers where they give up on or abandon a project and runaway with their investor's money; that's why it's always advisable to invest an amount that you are also willing to lose.

High tendacy of Pump and dump: There are alot of scam tokens taking the form of penny cryptocurrencies and they use a scheme called Pump and dump to make investors loose their money. The pump and dump is more like a systematic plan that involves the artificial inflation of assests value just right before a sudden malfunction or crash.

What is the best penny to invest in 2021?

Dogecoin is a pick you can’t miss, from daily news and 24/7 charts of penny crytocurrency it has shown itself as the best out there for anyone, including me and you.

Early this year it showed 0.7 value rate with a drop to what we have today, it is a risky penny to invest in it is still the most promising of all other pennies. Check daily news!

Though its initial rise was spontaneous and promising compared to its recent falls which when compared to other pennies show it’s still the best penny to invest in as the others are still below it.

Though we don’t know what may happen to dogecoin tomorrow, in the money market; crypto market to be specific, it is okay to give in to risks.

The risks involve getting a look at the charts of certain products and accessing them, knowing the one which has been at the top throughout the years, no matter the rises and falls has still remained top. Not that there are no other better coins than dogecoin, but among best pennies of 2021, dogecoin is still recognized.

A Ripple Analysis

WOULD I INVEST RIGHT NOW?

Of course I will. Looking at the Ripple Analysis of today and few days back, we can all see that it seems to be promising and making progress.

So yes, I will definitely invest in it right away. Ripple has gotten its ground with a current price of $1.46 and with an all time highest price of $3.84. It's also known for top exchanges like BitMEX, kraken, binance and so on.

@pelon53

Possible investment of 5 penny crypto assets

Many crypto assets come in form of tokens, and cryptocurrencies which may be blockchained. Let me explain, when a crypto asset is blockchained it means it has several information linked to each other on a particular platform or platforms, checkout 5 of these crypto assets which are the penny ones–value rates $1 and less than, with their possible investment as all assets should have their possible investment.

Free coin

Free coin is the token form of crypto assets, it exists on platforms like etherium and Bitcoin, a blockchain exists within these two platforms as they have free coin on them.

TrX

TrX exists on Tron blockchain, aimed at spreading information to dense distribution on internet, it is a valuable crypto asset. TrX may be considered as one of the penny crypto assets to invest in as it shows a signs of a promising token with less risk or losses in the future.

Safemoon

Safemoon created by John Karony is a token whose value is never affected no matter the tokens bought. Don’t still get it? It means whether safemoon is bought insanely high or too low, the value remains unafffected that when other tokens or penny crypto assets are experiencing deflation it remains undervalued. What an asset .

Feg

With a value of $0.00000001, it exists on etherium. This asset also token is one whose value experience deflation; rise to fall. Due to it having such falls it may not be a wise option to invest in it in the future, so as to avoid losses from your investments.

Elastic BNB

This is found on binance blockchain. Binance as a crypto currency is ranked amongst the highest in value 2021. This token is circulatory in nature, as of today it’s value is $0.9452.

So back to number five question,

I first study the market to see which coin is really in a good mood to invest in which after finally I picked Trons.

But first of all I need to go to my wallet to see whether I have some amount of trons left there.

Checking my trust wallet, I discover I didn't have any trons in my trust wallet so the next thing I need to do is to buy trons from one of my friend binance exchange Account since I am still yet to open binance.

So after that, I need to head to binance and then start with the purchase, as you can see I am buying 121 trons with my available bitcoin

As you can see I have bought the trons which later amounted to 119 trons in total

By buying this, this has helped me to have 119 trons In possession compared to when I have nothing