> Penny stocks are shares in a company that actually exists and the value of which is based upon the demand for that company's goods and services and the perceived ability of that company's leadership to return a profit and grow. irrelevant. In practice, penny stocks are treated the same as an ecoin Dogecoin has as much value as a penny stock does. It gives you a vehicle to gamble on and (try to) make money. With dogecoin, you can convert it to bitcoin via shapeshift or some other crypto-swap. Then you just sell the bitcoin on a "legit" exchange for cash. Penny stocks just have less steps to go from asset to fiat.