Crypto Academy Week 14 - Homework Post for [@pelon53] Penny CryptoCurrencies
Hello everyone i hope you will be fine and enjoying good health by the grace of Almighty Allah who is most merciful and gracious to everyone.
As we know that steemit is teaching the steemians as well as all other audience about the crypto by running Steemit Crypto Academy. But there is a well opportunity for all the steemians that besides learning they can also earn by performing homework tasks.
Being a student i am also attending the lectures of the professors and today i have attended the lecture of professor @pelon53 about the Penny CryptoCurrencies. The lecture is full of information about the penny cryptocurrencies, their work, and their advantages as well as their disadvantages. So if you want to learn about the penny cryptocurrencies you must attend the lecture of the professor pelon53.
Explain the Penny cryptocurrencies in your own words. Advantages and disadvantages.
Penny means very small, a cent which is equal to 1/100. And similarly this word is used in the cryptocurrency for those coins which have very small price generally less than $1. These are most cheap cryptocurrencies which are worth of a few cents.
Most of the penny cryptocurrencies are more volatile and their price can be changed in the firm of dump and pump. Pump means to go up in price and Dump means to go down in price. But all the penny cryptocurrencies are not same. Each cryptocurrency has its own properties and these are completely different from each other.
Everything has its own advantages and disadvantages some of the basic advantages and disadvantages of penny cryptocurrencies are given below:
Advantages
Penny cryptocurrencies are highly volatile and we can earn huge profits.
These have potential to change the market and can become investor's favourite.
These may become popular choice of the investors in moments and can give more profit.
One can earn massive profit who invests in it at great time with just a small investment. It may be for those who do not have more investment but they want to purchase cryptocurrencies then it is a great thing for them.
The trusted penny cryptocurrencies may give something good by the ICOs by offering huge shared and profit.
Disadvantages
Penny cryptocurrencies have low price which may lead it to the low capitalization.
As their liquidity is low so it becomes difficult to sell them in the market immediately because of lack of buyers.
Due to low liquidity their trading is less. In most cases when it's price goes high their transactions fees go high and in some cases their trading may also be disabled.
As these penny cryptocurrencies are offered by small companies so these companies cannot handle it's expenses of record and they do not provide its all record and data.
- These penny cryptocurrencies cannot be trusted be wise it may be a way to snatch money of people by offering them huge profits with the ICOs. As it has been happended many times that the companies snatched all the money and went away and no one could find them.
For you: What will be the best Penny to invest in this 2021? Explain and show evidence.
Penny cryptocurrencies are booming everywhere and many people are investing in them and making huge profits. But those who are investing without any carefull analysis are loosing the game.
We should analyze and do a full research before investing in the penny cryptocurrencies. I love to invest in the cryptocurrencies.
So according to me the best penny to invest is dogecoin in 2021 because it has changed the crypto world. It was at the price of $0.0005588 when it was launched in 2013 but in February 2021 it hit the price of $0.06126.
And again it goes on and it was pumped very much and stopped at the price of $0.73 almost.
At present it is currently trading at the price of almost $0.39 and before this it went down but now it is again ready to be pumped. The major thing about this is that it changes every time and quickly. It goes down and comes up with same speed means to say you cannot loose but overall it gives profit but with carefull management.
It had been proved a great Penny cryptocurrency which has made many people millionaire and billionaire who hold it.
Do a Ripple (XRP) analysis. Show screenshots. Would you invest right now? Explain.
Ripple (XRP) is another famous penny cryptocurrency and a currency exchange introduced by the Ripple Labs Inc. It was introduced for the global payments because it provides better payment system at international level.
Now it has become very popular and everyone is taking interest in it due to its high demand and so on its price is increasing and the investors are making huge profits.
In the start it was launched with the price of almost $0.0044 but it moved up rapidly in the beginning of 2018 to about $3.5 but then it was dumped and it fell at the price of less than a $1.
Here we can see it's fluctuations than it moves upward then come backward and following this trend all the time and in this way we can make more profits with small investment.
And currently it is trading at the price of $1.1524.
Here you can see the analysis that now it is good time to invest in the Ripple (XRP) and you can make profit. So if you want to invest then don't hesitate and invest in it and in this way you will make money.
So I am also ready to invest in this but my investment already bounded to other coins and at present I do not have more to invest in it. But it is now ready to follow uptrend as it is already following this trend.
Present in detail a possible investment of 5 penny crypto assets. Explain and present data confirming your choice.
At present there are a lot of penny cryptocurrencies which are moving and people are raising huge profits. My choices are given below:
1. Tron (TRX)
Yes I will keep trx at first to invest as it is very hot penny cryptocurrency everywhere and it has a lot of potential to rule the world. As Tron blockchain was introduced by the Justin Sun and he is trying his best to make it better. As he has a lot of followers and a lot if trustees.
We can see that how much it went up in the last days and people made a lot if money from it. But then it dumped and now it is again ready for the bullish and it is a good time to buy it at this best price to make profit.
2. Basic Attention Token (BAT)
BAT is a utility token based on the Ethereum Blockchain. It was introduced as a reading token for the Brave Browser. It is also a penny cryptocurrency but it has got value as there a lot if investors who are investing in it.
It is currently trading at the price of $0.8952 as screenshot is attached. We can see that firstly it followed downtrend but now it is time to buy and invest in it to make profit. As it is going up.
3. Trust Wallet Token (TWT)
I think everyone is familiar with the trust Wallet which is used to hold and buy cryptocurrencies for long term. And trust Wallet has its own token which is also a penny cryptocurrency and it is fully trusted to invest in it.
Here you can see that it is also indicating buy signal so it is a good time to buy it to make profit. As currently it is at the price of $0.6161 and it is possible to hit $1 as the market is flowing rapidly again.
4. Steem
The best penny cryptocurrency of 2021 is Steem as it is moving rapidly and giving profits to its investors and everyone is also looking at this and investing in it and making a lot of money.
It has been proved the best penny cryptocurrency of all time as well as of 2021.Here you can see it's price chart and indications.
It is now indicating strong bullish and it is ready to overcome all the market. I have also invested in it and holding Steems and waiting for the big bullish wave and I am sure that it will very useful. And all the investors will surely get a lot.
5. Siacoin (SC)
Siacoin is also most loved penny cryptocurrency of 2021 as it also have s potential to overcome and to be bullished.
As you can see in the price chart it recently went up and offered it's investors a lot of profit. And now it is again ready to go on fire. My one friend I vested in it and he made huge profit and he has also suggested me to invest in it. So I am also eager to invest in it at this time.
Show an investment (starting at $ 5) that you have made this week in Penny cryptocurrencies. List the steps you took.
Investment in the penny cryptocurrencies may give you a lot if profit. I am also taking interest in buying penny cryptocurrencies by selling my other cryptocurrencies. As we know that recently Steem went to its low price of about $0.70 at that time I had other cryptocurrency which was at its peak value so I urgently sold them and bought usdt and immediately I bought Steems and I am now waiting for its bullish. As it's price is increasing and currently it is at the price of $0.7313 but I am still holding my investment in the form of Steems.
I am also trying to buy Doge I have placed it's order to buy at the price of $0.28 but my order has not yet been placed because it has gone up at the price of $0.39 but I am hoping to buy it at its current price as well.
Conclusion
Although the penny cryptocurrencies are highly volatile but these may earn you a lot. But before investing you have to do a research and you should make it sure that the penny cryptocurrency is real and not a scam. So then you can make huge profit. But if you want to invest in the penny cryptocurrencies then you have to wait a lot of time and then you will become millionaire.
Cc:- @pelon53
Gracias por participar en Steemit Crypto Academy:
Faltó el nombre de usuario en cada gráfica o captures de pantalla. Su análisis fue muy técnico y no me habló de las monedas en cuanto a su funcionamiento y si resuelven algún problema de la ida real.
No hizo la inversión de la pregunta 5. Y por lo tanto no mostró en detalle los pasos de esa inversión.
Espero seguir leyendo tus publicaciones.
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