CryptoPennies is a cryptocurrency which was launched with a small set of value. It started being
traded in June 2015. The currency did not have an ICO. CryptoPennies applies the X11 algorithm.
Initially, it was built on the proof-of-work method which was later updated with the proof-of-stake
technology. The currency is mineable but not premined. Each coin is backed by at least 1 cent used as
a buying order on exchange trades on the market. CryptoPennies's token is CRPS. The coin value can
be increased by investor donations in the general fund, burning coins by token holders or the
developing team, mining costs as well as the community value. The contributions are equally divided
over the total amount of coins thus helping to raise the value of mined or staked coins. Using the
strategy of burning coins and donating makes CryptoPennies relatively hard to obtain.

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