While most people are familiar with the larger cryptocurrencies such as Bitcoin and Ethereum, there is another class of cryptocurrencies that are less known but still important in the industry, which is penny Cryptocurrencies.

Penny cryptocurrencies are cryptocurrencies that trade for less than a dollar per unit. There are a number of notable penny cryptos on the market, some of which are as follows:

XRP is the native toke of the Ripple platform which was founded in 2004 as Opencoin.

The platform is known for sending out payments for very low transaction costs and in very quick times. This has led to Ripple partnering with a number of institutions such as the National Bank of Kuwait.

Ripple has a current market cap of $12,783,809,442 and on average, transactions take between 2 and 4 seconds to complete.

The end goal of the Ripple platform is to provide a faster alternative to the current SWIFT option used by banks worldwide.

As of now, Ripple has three main offerings, xCurrent, which is the most widely used, xRapid which is used for illiquid pairs, and xVia.

TRX is the native Token of the TRON platform which was created by Justin Sun.

Unlike Ripple, its focus isn’t necessarily faster transactions but the expansion of the digital content market.

Its platform is dedicated to helping content creators revive payment for their work and it does so through its decentralized nature and storage capabilities.

TRON helps to remove middlemen and allows creators have control over who has access to their content as well as they Payment streams.

It’s current market cap is $1,966,549,855.

This is the official token of the Stellar platform.

Stellar is a platform that specializes in aiding funds transfers around with the world with interest in parts of the world that do not have access to banking services. Stellar is non-profit and is also a decentralized platform.

The XLM Token is an inflationary one which helps to aid conversions among other currencies with a market cap of $1,855,143,524.

Stellar has collaborated with firms such as Blook Solutions, ICICI Bank and Cellulant.

ADA is the currency of Cardano which is similar to Ethereum in that it supports smart contracts.

It makes use of the Haskell programming language and is known to be very flexible in the customization of its contacts.

ADA has a market capitalization of $1,072,093,329.

MIOTA is the currency of the IOTA platform which is designed to improve on the transactions of IoT (Internet of Things).

The platform is also working towards improving the movement of information between machines.

The platform is, however, not a Blockchain but exists as a ‘tangle’ which is a system of several interlinked Chains.

Transactions that take place on the platform are free of transaction costs though it doesn’t support transaction costs.

As of now, it’s market capitalization is $766,251,555.

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