While Bitcoin remains a popular topic for investors, penny crypto coins have seen an exponential increase in their value over the past year. Investors are looking for penny crypto coins to make big profits, despite the fact that bitcoin is still a very popular digital asset.

This article will help value-driven investors identify the best penny cryptocurrency coins to make big profits and add to their portfolio.

1. Cardano (ADA)

Cardano is a promising coin and our top pick for penny crypto coins that can make big profits as 2022 starts. Cardano, a peer-reviewed blockchain protocol, is the third-generation of the Blockchain Trilema of security, interoperability and scalability.

This asset uses a proof of stake (PoS), consensus algorithm that breaks down transactions into epochs, or timeframes. Random selection is used to select validators, which ensures that the protocol remains decentralised.

Cardano will be, at its core, faster, more efficient, and less expensive than Ethereum and Bitcoin. Cardano is still in development and has begun rolling out upgrades to its network, which has excited investors.

Cardano has still signed major partnerships with top companies. One example is the recent partnership with Samsung, the smartphone and home appliance giant. It will plant 2 million trees in Madagascar using Veritree, a Cardano-based protocol.

Its gaming scene is also rapidly expanding as more than 30 blockchain-based gaming platforms are already available on the Cardano network.

Cardano's utility to token is in decline price-wise. The digital asset trades at $1.214, and is currently down 9.74% according to the daily chart. As the wider crypto market experiences tailwinds over the next weeks, this trend is unlikely to continue.

2. Ripple (XRP).

Ripple is still a favourite among many investors. It is also one of the most profitable penny crypto coins to make big profits. Although the US regulators are currently trying to regulate the blockchain protocol, many investors remain bullish on this digital asset for many reasons.

One, Ripple protocol has the most extensive range of blockchain services. It is also a market leader for legacy-backed businesses. Many companies are using the low-energy protocol to get into the crypto world.

Another benefit is its list of benefits. Ripple employs a Federated Consensus Algorithm to address the problems inherent in Bitcoin and Ethereum. This allows cross-border payments to be made faster, more efficiently, and is also cheaper.

Ripple is a United Nations partner and has been tapped by Xange.com to participate in a Carbon Credit Offsets program. This will likely make XRP a popular crypto coin among ESG-minded investors over the next months.

XRP has been struggling with the bears. It is currently trading at $0.7536. This is a 9.16% increase in price. As the orange trendline leads, the moving average convergence is in the sell spot.

3. Polygon (MATIC).

Polygon has been a savior for the Ethereum network's wounds. However, the multi-chain solution has quickly emerged in the last year. The network traffic has increased by more than 1,000% and the Polygon community has seen a 62% increase in its development. These are impressive numbers that make Polyon a great penny crypto coin for large profits investors should be watching out for.

The Polygon protocol reduces the transaction burden on Ethereum and decentralised apps (dApps), are quickly onboarding on the layer-2 protocol.

Polygon Studios, a non-fungible token (NFT), arm has partnered with Project Galaxy in order to allow NFT collection via the popular secondary NFT marketplace OpenSea. This partnership will enable users to claim loot box, which will give them access to one of the four elemental NFTs.

Polygon is also a hotbed of crypto indexes. It has seen DeFi, metaverse and many other crypto assets join Polygon due to its low fees and scalability and high security with the Ethereum network.

Polygon's MATIC, which is a price performance indicator, has been a strong bullish player in 2021. It looks set to be a great 2022. MATIC trades at $2.1, a 12.11% drop in 24 hours.

The scalability solution trades well above the 100-hour SMA price of $1.84, which points to the long-term bullish potential.

4. Algorand (ALGO).

Algorand, one of the most profitable penny crypto coins currently available at a bargain price, is one of the best. The Ethereum competitor has fallen 12.16% to $1.5149 below its $2 range. This is a great opportunity to grab this promising project at a very low price.

Algorand is primarily responsible for a smart contract network. The layer-1 protocol, which allows the creation of dApps, minting NFTs, and decentralised financing (DeFi), services, allows Algorand to run a smart contracts network. Algorand promises low transaction costs and quick transaction times, making it a good successor to Ethereum's blockchain.

Algorand and the Drone Racing League have teamed up to provide play-to-earn (P2E), sports games to the emerging blockchain ecosystem. Users will be able race drones to earn crypto assets and NFTs on Algorand's blockchain. This will encourage adoption.

Algorand's ALGO has fallen below the $1.7520 SMA price for the hour, marking a significant bearish moment.

5. Fantom (FTM).

Fantom is our last penny crypto coin for huge profits. However, the blockchain protocol project is not small. Fantom's popularity has grown as DeFi and NFTs gained steam in 2021. Fantom's low cost and scalability have attracted many users.

Fantom's governance token FTM, which is traded in the red zone alongside other top altcoins, is currently down 10.76% as of press time. The digital asset is now trading at $2.7489. FTM's relative strength index (RSI), which is dangerously close the overbought area of 66.47, is still showing strong technical performance. This has had a positive impact on the moving average convergence divergence (MACD), which is a digital asset indicator that points to a strong buy signal.

Recently, the Ethereum competitor has integrated with Cryptokek's data analytics platform Cryptokek.

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By: Jimmy Aki
Title: 5 Best Penny Crypto Coins for Big Profits – Jan 2022
Sourced From: insidebitcoins.com/news/5-best-penny-crypto-coins-for-big-profits-jan-2022
Published Date: Thu, 06 Jan 2022 13:01:04 +0000