Best Penny Cryptocurrency That Could Make You A Fortune In 2022
One of the best times to buy assets is when there is blood in the streets. The key is to buy while the market is tanking and then hang tight for the rebound. As the adage goes, you want to “buy low and sell high”. Since crypto prices are especially volatile, this is particularly true in the cryptocurrency markets. It’s not uncommon for cryptocurrencies to increase in price 10X or more once the bull market finally returns. Crypto bear markets, therefore, create a unique opportunity to set yourself up for outsized returns. With that said, let’s examine the best penny cryptocurrency that could make you a fortune in 2022.
Best Penny Cryptocurrency: Disclaimer
Cryptocurrency prices are very speculative and volatile. Buying penny cryptocurrencies is similar to gambling and should be treated as such. Gambling can be a fun way to try and make some quick cash. But, you should only ever gamble with money you can afford to lose. The same goes with buying penny cryptos.
What is Chiliz?
Chiliz (CHZ) is an Ethereum token that powers the fan engagement platform Socios. On Socios, users can trade tokens, called Fan Tokens, that allow them to interact with their favorite professional sports teams. Fan Tokens can be used for voting rights in polls, VIP rewards, exclusive promotions, AR-enabled features, chat forums, games, and competitions. The exact use for Fan Tokens depends on the partnership with the team.
One reason that you might not have heard of Chiliz is that the company is based in Malta. It was also founded recently in 2019. Despite this, Socios is rapidly gaining steam in Europe. This fan engagement platform has already inked partnerships with hundreds of European soccer teams. It also has over 300k followers on Twitter, 400k on Instagram, and is endorsed by Lionel Messi. While this is all impressive, it’s the unique timing that makes Socios the best penny cryptocurrency to buy.
The timing is unique for two reasons. To start, we are currently in the midst of a crypto winter. If you have a long investment time horizon then this is a great time to buy cryptocurrency. By buying now, you can get cryptos for pennies on the dollar. In Chiliz’s case, the coin is already down from its high of $.80 to just $.09. This allows investors to establish a large position for a small total investment. Of course, that doesn’t mean that the price can’t drop further. Just that most of the damage is already done.
Additionally, Chiliz is the best penny cryptocurrency to buy for 2022 because it’s just beginning to enter the U.S. market.
Coming to America
Up until now, Socios has focused entirely on the European market. But, Socios is just starting to expand to the sports-crazy U.S. market. It has already inked several deals with major U.S. sports leagues. Socios has deals with Major League Soccer, 13 NFL teams, and a handful of NBA teams. Granted, the scope of these deals is fairly limited. These deals do not include a Fan Token for these specific teams. Instead, they really just marketing agreements between the organizations.
However, these deals serve as a signal that the MLS, NFL, and NBA are open to the idea of offering Fan Tokens. This isn’t just an interpretation. The NFL Head of Consumer Products, Joe Ruggiero, has reiterated the league’s excitement. He stated, “We’re extremely bullish on blockchain technology. We think that it has a lot of potential to really shape innovation, shape fan engagement over the course of the coming decade.”
In other words, the NFL isn’t going to make any major moves now. But, it is very open to making a significant move into blockchain technology in the future. If this happens, Chiliz could skyrocket. As an investor, this means that 2022 represents a great time to buy CHZ.
So far, Socios has enjoyed early success in Europe. Its social media pages have gained traction and it is partners with hundreds of pro soccer teams. The platform also boasts over one million users. But, more importantly, the Chiliz technology has reached proof of concept.
The underlying technology that powers Socios has proven that it’s capable of hosting fan-facing blockchain products. So far, the company has been able to scale appropriately to support its initial success. This is a good sign that the company will be able to rapidly expand in the U.S. with minimal drawbacks
As we speak, Socios is entering the U.S. market. In fact, its Instagram still reads “Coming To America – Summer 2022”. Additionally, its U.S. Instagram has just 1,000 followers compared to 400,000 on its European Instagram.
If you are looking for the best penny cryptocurrency that could make you a fortune, you’ve found it.
How do You Make a Fortune in Crypto?
Chiliz is very far from a sure investment. In fact, it’s very risky. However, CHZ is a token that could realistically make you a fortune.
Socios is attacking a massive market and has a proven proof-of-concept for its platform. If it catches on in the U.S. then CHZ could spike exponentially. Additionally, given the popularity of sports in the U.S., it’s very easy to see a fan engagement platform like Socios taking off.
One of the best ways to make a fortune in crypto is to get in on trends before other people. Usually, this means finding the next best penny cprytocurrency before other investors do. By the time you read about it on Business Insider, it’s already too late. The key is to identify coins that have the potential to spike and buy into them early.
Right now, Chiliz has the potential to spike due to its value proposition, massive market opportunity, and early traction in Europe. With that said, there is no telling when a potential spike happen. It could be next month, 3 years from now, or never. The best option is to buy a small stake with money that you can afford to lose. From there, subscribe to Chiliz updates and follow them on social media. This will help you stay up-to-date on the most recent developments.
I hope you’ve enjoyed learning about the best penny cryptocurrency that could make you a fortune in 2022. Please remember that I’m not a financial advisor and just offer my own research and commentary. As usual, please base all investment decisions on your own due diligence.
About Teddy Stavetski
A University of Miami grad, Teddy studied marketing and finance while also playing four years on the football team. He’s always had a passion for business and used his experience from a few personal projects to become one of the top-rated business writers on Fiverr.com. When he’s not hammering words onto paper, you can find him hammering notes on the piano or traveling to some place random.