How to Select Which Penny Crypto to Buy?
It is essential to have a set structure or format of the selection process so that you do not get confused with so many coins available in the market. Therefore, when searching for the best penny cryptocurrencies to invest in, here is a list of a few factors to consider.
1. Always invest in the crypto that has a circulating supply of between 10 million – 1 billion coins.
2. Minimum 25% of the whole supply limit should have been mined already·
3. It should have a minimum market capitalization value of $20 million and should bring more than $1 million in daily trading volume·
4. It should be listed on popular cryptocurrency exchanges such as MXC, Binance, BitMex, etc.
5. Discount penny coins that trade near their all-time high.
6. There percentage gain in the last 7 days should be higher than 50%. You can check this data on big cryptocurrency exchanges·
7. The cryptocurrency that you wish to invest in should have a strong presence on social media channels and should report about its development with complete transparency·
8. Should possess a team of experienced blockchain developers·
9. Last but not least, you should always use technical analysis to search for the range-bound penny crypto that is transacted at a psychological support level.
