Crypto Academy Week 14 - Homework Post for @pelon53

Hello everybody, Hope you all are fine and in good health!

My this post is a Homework Task assigned by professor @pelon53

1-) Explain the penny crypto currencies in your own words with its advantages and disadvantages

Penny crypto currencies are the boats to the large ship. They are currencies in the market with a low value of less than a dollar and are starting to evolve in the Crypto market. They come with their Benefits and Drawbacks. 

Advantages:

The advantages of the Penny crypto currency is that the amount of investment into the coins is quite less hence if there is a loss then the loss is not very impactful but if the crypto currency works and gets flourished in the market your financial status can change in seconds and you could be a millionaire the next day.

Disadvantages:

The drawback that is associated with the penny crypto currency  is that  the market is quite volatile and the value of the crypto currency can fall down immensely and immediately, Moreover as the investment is quite less most of them end up as a scam and lead to the fact that your money is lost but if invested in the right place and in the right crypto currency you can benefit a lot.

2-) Best Penny Cryptocurrency to invest in 2021 

If someone ask me to invest into a penny cryptocurrency I would love to invest in Loopring because Loopring provides the organizations and the traders with a decentralized, automated trade execution system and will soon permit a decentralized exchanging utilizing ring-sharing technology and order matching the added advantage that Loop ring brings to the table is that just like other Decentralized exchanges systems. Loopring is operable on Ethereum and Neo block chains with plans to add support for the Qtum blockchain and makes the transaction very safe.

Loopring intends to pool orders from the largest number of exchanges and will then ensure to synchronize the orders with every system. The company plans to provide customers with a permit of a decentralized and a centralized system which seem like an optimistic goal and would help in future to minimize the wrong usage of crypto.

Now comes the main thing that attracted most of the customers towards Loop ring in the past which is their system for ordering, You can place an order from the loopring i.o wallet and use a private key to sign the order which provides safety and minimizes the chances of hacks and scams.

Loopring 3.0 settles more than 200 orders per second till date and now the price of loop ring has started to increase after a downfall and currently rests at $0.4158 today which has shown an increase from the initial price of $0.1333.The all time highest price for loop ring is $2.40  where as the all time lowest price is $0.0198 and is available at an exchange rate of $0.3430 at Binance, $0.3433 at CoinBase exchange,$0.3466 at Gate.io and $0.344 at Huobi Global.

3-) Do a Ripple Analysis and make a choice to invest 

This is an analysis of the XRP coin which clearly shows that the price of the XRP coin started to rise in 2018 before that it was not so popular among the investors the highest price recorded of the coin was $3.142 on Thursday 4th January and then there was a sudden decrease in the price which is seen in most of the cases after that there was a plateau in the prices from 2018 to late 2021 and due to the resistance the prices stayed low.

But in 2021 the prices has again started to rise for the coin as seen in the graph and is rising $1.749 on Thursday 15th April and I believe it is a good time to invest in the Crypto currency as the market for the currency has started to build and the pieces will continue to rise in the future so if I was given a chance I would take the risk to invest seeing the stability and the safety it offers for it to return me in the future cause the Future for this coin seem health and Stable and is a good option to invest in the upcoming years.

Present in detail a possible investment of 5 penny crypto assets. Explain and present data confirming your choice.

Chillz

This is the graph of Chiliz Crypto currency and I would love to invest into this as my Investment as the graph shows the value of Chiliz coin being doubled in the past and seems to rise again in the future despite some resistance being faced from the market.

Also Chiliz coin provides good security as the developers are keen to build a good security system and it also provides exchange in BInance and Bitmex which is an added advantage with this type of currency. Furthermore its market capitalization is $1,711,093,039.24 and has a dominance of 0.10% in the market with a rank of 59 overall confirming the fact that it’s a good option for an investment.

Ravencoin

Ravencoin is a digital peer-to-peer (P2P) that has built a specific block chain which is designed to efficiently handle the responsibility of  the transfer of assets from one party to another.

The live Ravencoin price today is $0.083888 USD with a 24-hour trading volume of $82,730,369 USD. It has a circulating supply of 8,824,550,000 RVN coins and a max and a market cap of $740,269,468 USD with all time high and low values of $0.2845 and $0.008. Furthermore what makes Raven coin unique is that it aims to provide a solution for assets transfer over Blockchain.

 

Stellar

Stellar is unique because every transaction costs just 0.00001 XLM and is available at exchange at Binance, Huobi Global, OKEx, FTX, and CoinTiger. The all time high and Low price for Stellar is $0,9381 and $0.001227 respectively.

The live Stellar is a coin with its price today  marked at $0.408111 USD . The ranking is #16, with a live market cap of $9,430,407,145 USD. It has a circulating supply of 23,107,442,323 XLM coins and a max Supply of 50,001,806,812 XLM coins.

 

Enjin Coin

Enjin Coin is a project of Enjin, that provide block chain gaming products its The live is $1.23 USD with a 24-hour trading volume of $235,859,472 USD, Its live market cap is $1,022,055,729 USD with a circulating supply of 834,313,757 ENJ coins.

The top exchanges for trading in Enjin Coin are Binance, OKEx, FTX, CoinTiger, and Upbit. All time high price for the coin is $ 4.00 whereas the all time lowest price is marked at $0.01562.

BAT

Basic Attention Token, or BAT is a new advertising platform that help the investors a higher return on their ads and attention. Its special feature is that it is used  for running advertising campaigns through Brave Ads.

The live price for the coin is marked at  $0.729443 USD with a 24-hour trading volume of $374,266,785 USD. The live market cap of $1,091,196,311 USD.  All time highest value is $1.65 with an all time lowest value of $0.00621 as shown in the graph.

Investment that I made in CryptoCurrency and the Steps I took

Recently, I have seen that some penny cryptocurrencies got much hype and they give a lot of profit to the investors. So, last week I also decided to invest in some of the Penny cryptocurrencies to see if I can also get the profit or not.

I have invested in 10 penny cryptocurrencies with $15 investment in each. The total investment which I did was $150.

There were very much hurdles when I wanted to Invest in Penny Cryptocurrencies. I didn't know about the exchange which was best for holding penny cryptocurrencies. So, I Googled it and found that Bitmart is One of the best exchange which listed almost 70% of the penny cryptocurrencies.

I simply put some investment in Bitmart and randomly invested in 10 Penny Cryptocurrencies which were cheap in the market on that day. And that's the reason I am in loss right now because I didn't do any analysis before investing in Penny Cryptocurrencies.

These were the steps which I took and lead me to fail my investment. But I believe, if the rate of any penny crypto currency will increase which I am holding, I will still get some profit.

Thank you.