The Steemit Crypto Academy Week 14 | Season 2 | - Homework Post for @pelon53

Penny cryptocurrency

Penny cryptocurrency are new cryptocurrency that are created with little or no value at all. They are crypto that are almost valueless but with the hope of becoming valuable someday if they are real projects.

These projects always come with a very large supply which enables early investors get a larger chunk of the project, as time goes on the supply tends to reduce by a process called burning.

Bitcoin which is the master of cryptocurrency also started same way but has far gained a great value as of today. A lot of investors have been hearing about this tokens and don't know whether to invest their money in them because they feel they aren't solid projects and there is possible for a rug pull, this is why it is always advisable to invest what one can afford to loose because the penny tokens are always 50 -50 chance

There are things to consider as an investors before investing in penny cryptocurrency

1 Locked liquidity: this is just like locking a certain asset of the developer of the project away. This gives a kind of assurance that the project is a safe one and won't be rug pulling any moment.

2 The project details and road map of the project which is usually published by the developer before the launch of the token.

3. Another important one is the exchange that will be listing or have listed the tokens. There are too exchanges which is believed when they list a token that means the token is a good project and makes investors move in more on the project.

Advantages

1 It is beneficial for long term investors due to the fact that they are able to get a larger chunk of the project in their disposal.

2 It makes other developers think big and create a project that is different from the others.

3 They make crypto market at large more competitive and don't give to the monopolization of a single token.

4 Penny tokens has brought more people into the crypto space since they can invest with very little amount of money.

Disadvantages.

1 Alot of people have been duped due to penny tokens. The developers end up carting their money away.

2 Penny tokens has caused politics amongst developers which make them FUD about each other projects.

3 The investors with larger chunk.of the project always have dominance over the project they make it move in whichever direction they want.

What will be the best Penny to invest in this 2021?

###/CHILIZ (CHZ)

Chiliz is a token which fuel the platform socio.com which is an entertainment and sport platform for fans. Chiliz is used to purchase fan items of their favourite artiste or sport clubs.

Chiliz also enables fans be able to partake in polls and vote. This token was founded in 2018 and is ranked 61 on the coinmarketcap as at today. This token is a good investment in 2021 due to the fact that the token is a utility token and will always be needed by fans.

This token also calls for investors who are sport lovers to be able to use it in gaining their favourite clubs shirts or tops. Also it has a total supply of 8 billion which over 5 billion is already in supply. Chiliz will continue to live as long as sport and entertainment continues.

Ripple (XRP) analysis.

Ripple is a native coin of the ripple ledger that has been customized to be a payment method for the ripple ledger and it is believed to settle transactions within 3 -5 seconds.it is created by ripple lab and was first released in 2012, it was founded by Chris Larsen.

XRP is built in such a way that it allows for other cryptocurrency to be sent on its ledger without discrimination thus making it a special token. It is currently on number 7 in the ranked coin and has an all time high of $3. It's current price is at $1.04

possible investment of 5 penny crypto assets.

1 Aquagoat: This is a utility token that was developed on April 7 2021. This token was built with the intention of cleaning the ocean up with the money made from it.

It was launched with a supply of 100 quadrillion which 40 quadrillion was burnt leaving a remainder of 60 quadrillion. For each transaction 4% of the transaction is taken.

2 MOONRAT: This is another penny token that was built on binance smart chain. It brings a feature whereby holders earn $BNB for hodling the token. 2% of all transactions is taken and redistributed to all Moonrat holders in BNB and 4% of all transaction is rewarded to all Moonrat holders in BNB weekly.

This project also has an anti whale scheme whereby any transaction that is higher than 0.01% of the total market is rejected and every transfer of Moonrat between wallets higher than 0.01%.

3 Safemars: this is a token with a total supply of 499 quadrillion it has burnt over 605 trillion of the total supply. This project was Launched on the 13th of March 2021 and has gained over 400,000 users.

It also shared 2% of every transaction with the holders and has its own dex platform. It has a locked liquidity forever and burns 1% of every transaction also. It is also a potential good investment.

4 BitTorrent: this is a utility token that is built on the Tron blockchain, it is powers different file sharin applications like BitTorrent speed, Dlive and more.

It rewards the users of uTorrent with BTT after the downloading and uploading of files. It was originally launched in 2001 but was bought by TRON in 2018.

5 SAFEBTC: This is a token that was built with safemoon protocol. It takes 5% o every transaction and give 2% to all holder and 2 % is burnt forever.

It started with a total supply of 100 quadrillion but has burnt over 50 quadrillion.

Now in answering the last part, I checked that the particular coin I want to buy but it is on my tronlink pro wallet which I am fortunate to see,

As I want to buy trons and then send it to my tron wallet address on my tronlink pro wallet

After that, I need to transfer the trons to my tronlink wallet there as a better Saving option for me to save my funds there

After that, I need to go copy my tron address and input it in the Binance withdawal section to withdraw it to my tronlink pro wallet