There are numerous ways by which investors can profit by investing in cryptocurrency. The most common and obvious one is – purchasing a currency at low cost, wait for its price to increase, and sell it then.
But there are other ways from which you can fill your pockets from crypto investments, and investing in crypto penny stocks is one of them. These are low-priced stocks with a high fluctuation rate.
Moreover, they are the favorite choice of many investors. Also, if you are new to the world of cryptocurrency, these stocks are the best start you can give to your trading journey.
Which Crypto Penny Stock To Watch
But when it comes to crypto penny stocks, the list of available options is continuously increasing. For any new crypto investor, it’s quite hard to determine which penny stock to purchase. We have made this task easier for you.
Below we have shared with you the top crypto penny stocks to watch in 2021. The following stocks have shown great growth in the past, and they have high chances to profit investors in 2022. Here’s the list of these stocks:
Life Clips, Inc. (OTCPK: LCLP)
Life Clips penny stocks are great investments if you are a newbie in the world of cryptocurrency. Here are some latest updates and news about this company for why investors can expect a rise in the price of its penny stocks.
- Life Chips is going to acquire Belfrics Group. Belfrics Group is a global chain technology company running crypto exchanges through its platform.
- Belfrics Group offers services in Malaysia, India, Singapore, Kenya, Tanzania, Bahrain,ṣ and Nigeria. By acquiring them, Life chips will increase its expansion.
After this news went live, on 16th july, LCLP stock was traded at an incredibly high volume of around 756 million shares. This company’s daily trading volume on average is around 92.5 million shares. This means the company has experienced an additional trade volume of 663.5 in one day, which is way more than its average trading volume, as you can see yourself.
Moreover, the stock price of LCLP went up to around 15.9% on 15th July. And since the financial details of this merger are going to be released soon, investors have high chances to earn profits from this crypto penny stock.
Hut 8 Mining Corp. (NASDAQ: HUT)
Hut 8 Mining Corp is a company that deals in the mining of Ether and bitcoin, tokens that run on the Ethereum blockchain. The company is using its proceeds from the US listings to boost its mining capabilities.
It hasn’t announced any news and still got a huge boost in its crypto stock’s price on 15th July Thursday. On that day, at 2:30 p.m. EDT, the stock price was up by 11 percent. It’s an unexpected raise that has benefited investors who trusted this crypto stock. Moreover, the stock price of this company has a high probability of rising. Why?
Why You Can Consider Investing In This Crypto Penny Stock
The company has mined around 3,233 bitcoins. And as per the current price of bitcoin(approximately $30,000), their crypto-asset value is around $100 million. On top of that, the company has announced, on 19th July, that they will spend around $44 million to double their mining abilities.
And by the last quarter of 2021, they expect to bring new equipment capable of yielding around 14 to 16 bitcoins per day. So we can say that the future of this crypto penny stock is quite bright. And thus, it deserves to be added to your watchlist.
Other than Hut 8 Mining Corp. (NASDAQ: HUT) and Life Clips, Inc. (OTCPK: LCLP), there are a few more crypto penny stocks that can rise as profitable investments like:
- Alset EHome International Inc. (NASDAQ: AEI)
- Neptune Digital (OTCMKTS:NPPTF)
- Hive Blockchain Technologies (OTCMKTS:HVBTF)
- First Bitcoin Capital (OTCMKTS:BITCF)
- MGT Capital (OTCMKTS:MGTI)
Make sure to check the current updates on these crypto penny stocks before investing in them.
So these were a few crypto penny stocks that you can consider investing in. Just make sure to be completely sure about an investment before making it. This will decrease your chances to suffer from loss.