Crypto Academy Week 14 - Homework Post for [@pelon53] // PENNY CRYPTOCURRENCIES: by @verdad

INTRODUCTION
Hello everyone, I am very happy to be able to participate in the CryptoAcademy course this week. In fact, he helped us better understand the concept of cryptocurrency through weekly courses. Thank you very much @pelon53 for just a great lecture.

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PENNY CRYPTOCURRENCIES
Penny cryptocurrencies are computerized/digital currency(tokens) with a market cost of under one dollar ($1). There are four types of cryptos: utility tokens, stablecoins, mining-based cryptocurrencies, and security tokens. penny cryptographic currencies are the recently/newly minted cryptos are coins that are new to the market and aren't well-known. A lot of penny cryptocurrencies are more volatile (dangerous and unstable) and can also manipulate market prices (moving around/misleading and tricking investors) through trends. However, not all penny cryptocurrencies are the same, they change/differ widely from each other. As you may have guessed, most cryptocurrencies currently on the market can be classified as "pennies." Examples of penny cryptocurrencies are; Cardano (ADA), Stellar (XLM), Crypto.com Coin (CRO), Basic Attention Token(BAT), and THETA.

ADVANTAGES OF PENNY CURRENCIES
1. Investors/traders with small capitals can make massive/satisfactory earnings in penny cryptocurrencies with small/fewer investments (very cheap with high growth prospects) unlike ETH or BTC, where you will literally invest all your life savings.

2. Even though penny cryptocurrencies offer high-risk reward ratios, A considerable lot are underestimated, and alongside the capability of mass appropriation of the blockchain innovation, we can expect the worth/value to be higher soon.

3. Higher volatility can create opportunities for quick gains.

4. In the event of becoming an expert investor, you need to make an arrangement of at least 7 digital currency portfolios. Regardless of whether you lose a huge sum of money from most digital currencies in the portfolio, a decent expansion in your penny cryptocurrencies permits you to save and benefit from your portfolio as well.

DRAWBACKS OF PENNY CRYPTOCURRENCIES
1. A lot of investors lose a massive sum of monies due to high fluctuations in the market downtrend period.

2. Many penny cryptocurrencies don't have a strong premise and may collapse since they are newly developed projects, anything little or bogus pieces of information can completely break it apart.

3. A large number of the new penny cryptocurrencies are tricks(scams). only a few have solid bases.

WHAT WILL BE THE BEST PENNY TO INVEST IN IN 2021?
Overall, many penny cryptocurrencies have huge/massive potential in the future, based on, or according to the project of the coin team, some are worth depending on. Taking STEEM and TRONS for, instance, all have relevant/all the necessary information needed to support their future development. I have currently been following all penny crypto charts and Dogecoin seems to be the best in 2021.

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DOGECOIN
Dogecoin is a cryptocurrency developed by Jackson and Billy Markus (software engineers) and published on December 6, 2013, with a market capitalization of about $92 billion and a price of $0.3446. Dogecoin is ranked #6 on CoinMarketCap as shown in the picture below.

The creators of Dogecoins envisioned an interesting and optimistic cryptocurrency that will have great appeal outside the mainstream Bitcoin audience. Elon Musk (Tesla CEO) posted a lot of tweets on social media(Twitter), claiming Dogecoin is his favorite currency. Click on the link to know more about what Elon Musk said about Dodecoins Click me

Dogecoin has a daily trading volume of approximately $6 billion. During the growing season, the daily trading volume exceeds $12 billion.

Dogecoin has really increased as compared to the previous years and still has the potential to increase further as shown in the above picture.

A lot of companies have accepted Dogecoin as a form of payment some of which include; Strange Donuts, STEEM, BitBurgers, Burger Bear etc., because of their potential and how they have managed to survive in the market.

RIPPLE (XRP)
Ripple is a technology used as digital payment network and a cryptocurrency for monetary transactions. It was first launched in 2012 and was founded by Chris Larsen and Jed McCaleb. The main process of Ripples is the asset exchange and remittance system. Similar to the SWIFT system, it is used for international remittances and collateral made by banks and financial intermediaries operating in different currencies. The tokens used for cryptocurrency are predefined and use XRP codes. Technically speaking, Ripple is the name of the company and the network. The purpose of XRP is to act as an intermediate exchange mechanism between two currencies or networks, as a temporary settlement level denomination.

Ripple(XRP) Advantage and disadvantages
Ripple uses a unique distributed consensus mechanism on the network to verify transactions through polling. The node determines whether the transaction is authentic and provides confirmation immediately without the need to obtain approval from the central authority/middlemen. This makes XRP more reliable than many of its competitors.
It is very affordable and allows investors to borrow any amount of funds from other investors. The transactions in the system are carried out at an amazing speed (1000 transactions can be processed per second). The main drawbacks of Ripple (XRP): The founder of Ripple owns too many coins (more than one-third) because these coins were mined beforehand and is controlled/operated by a private company, which runs counter to decentralization. Can be used by financial institutions only.

RIPPLE GRAPH ANALYSIS

From the XRP chart above, it can clearly be seen that Ripple reach approximately 3.25 Satoshi (bullish run) in 2018 and has since been struggling to level back up. But from the 2021 chart, I can boldly say that Ripple has the potential to attain back its 2018 peak regardless of its poor run.

Today's current XRP price is $0.926288 and the 24-hour trading volume is $12,054,85 XRP has fallen 18.48% in the past 24 hours. CoinMarketCap's current real-time market capitalization is US$42,734,633,246, ranking seventh. There are currently 46,135,372,183 XRP coins in circulation, and the maximum supply is 100,000,000,000 XRP coins.

So to answer the question, Would you invest right now? my answer is yes because looking at the current chart, the possibility that there would be an increment in Ripple’s price/value is very high. From the chart below, it can be seen that the price/value of Ripple continued its bearish trend and has broken through the support zone, so it’s a perfect time to enter the market to gain a profit.

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

Based on all the lessons I learned in Crypto Academy, with the very little money and idea I had, I can piced out a few currencies to invest in. I am still learning. the trading methods, but I managed to create a portfolio on my own. Below are my assets.

TRON (TRX)
Tron (TRX) is currently running on a blockchain that is active in the market. It runs on a blockchain that can process over 1500 TRX per second, while BTC cryptocurrency can process only 6 TRX per second. At present, a lot of developers use this token to create DApps. Tron is mainly used in the entertainment industry. It enables content creators to directly connect with their audiences without intermediaries. The token is unique and has great potential in the future.

DENT
Dent was founded in 2017, Dent is a revolutionary digital cellular operator that provides eSIM cards, mobile data packages, recharge time and no roaming fees. According to the company's website, Dent is using the power of blockchain technology to create a global wireless market. data. Dent has developed an ambitious roadmap and plans to expand its services to new markets by the end of 2021. The company has attracted more than 25 million mobile users, and Dent's services are available in more than 140 countries/regions. Dent's business partners include Samsung Blockchain, Enterprise Ethereum Alliance and Telecom Infrastructure. Dent is ranked #126 on the CoinMarketCap, with a price of $0.003498 and a marketCap and volume of over $345 and $42 respectively. Due to its current improvement in the market, it has really catched the eyes of investors and hence I think it will it would continue to improve its price based its trend in the past few months.

STELLAR

Stellar is an open network where you can move and store funds. When the company was founded by Jed McCaleb in July 2014, one of its goals was to increase access to financial services by reaching the world without a bank. Soon thereafter, his focus shifted to helping companies. Use blockchain technology between each other. The network's own token, Lumens, acts as a bridge, making the cross-border exchange of assets more cost-effective. Existing payments usually charge high fees for similar services. It sounds familiar, but it's worth noting that Stellar was originally based on the Ripple Labs protocol. The price of Stellar today is $0.397627, and the 24-hour trading volume is $1,877,127,866. In the past 24 hours, Stellar has fallen by 4.11%. CoinMarketCap is currently ranked 15th with a market capitalization of US$9,188,151,256. There are currently 23 107 442 281 XLM coins in circulation, and the maximum number is 50 001 806 812 XLM coins.

SHIBA INU
_This is another fast-growing cryptocurrency penny, which provides a lot of inspiration for the appreciation of value, and is one of the top 30 cryptocurrency tokens on the CoinmarketCap list. Today's SHIBA INU price is 0.000008 USD, and the 24-hour trading volume is 1,058,458,072 USD. In the past 24 hours, the SHIBA INU index has risen by 4.20% and is currently ranked 34th with a market capitalization of US$3,012,833,533. In circulation-394,796,000,000,000 SHIB coins and above. And Finally, Dogecoin which i have already talked about earlier is also one of the coins i see a future in.

Show an investment (starting at $ 5) that you have made this week in Penny cryptocurrencies. List the steps you took
Below are the steps i mostly take to purchase my coin

1.Open you Binance account (login) with your phone number and confirm through the verification mail send to you .

2. Locate wallet on from the and select Fiat and Spot

3. Enter the name of the currency you are trading with (in my case I am going to search for Dent).

4. Afterwhich, select/Click on Market from the tabs.

5.Now enter the amount you want to buy and click on buy “THE NAME OF THE CURRENCY” (Dent)

Hurray, I Have successfully purchased my coin and I has automatically entered my wallet.

CONCLUSION
A penny of cryptocurrency fluctuates greatly. You need to consider these risks when investing. When you invest a penny of cryptocurrency, we must invest funds that we don't need. They can make a significant contribution to price increases.

CC:
@pelon53
@steemcurator02