Cryptocurrencies have, over the years, changed many people’s financial understanding. It has since grown significantly and taken space in the financial world. Like barter trade or today’s coin money, cryptocurrency is used as a medium of exchange. However, it has one significant difference that cannot be ignored; the rise and fall due to the volatility, even though it continues to expand.
But what exactly is cryptocurrency? Many people think of Bitcoin or Dogecoin. However, hundreds of more cryptocurrencies are in the market, and the portfolio continues to grow. According to Statista, the current net worth stands at $ 1.17 trillion, with an expected rise in the coming years.
As aforementioned, volatility determines how much one can lose or gain in a short while. Some people have built wealth overnight, while others simultaneously lost all their investments. This then brings up the idea of thinking about the best cryptocurrency with a future.
How is the Crypto market Expected to Grow?
Whereas there is high volatility, cryptocurrencies continue to grow, with over 21,000 in circulation. But it is important to note that this is a high-risk investment, such that the gains can be massive, especially when you hold for a long time. However, there is no guaranteed security for the investments, and the need to research well before investing in any of them.
Buying stocks of the same is essential to know which stock does better than the other. Below are the 11 best Cryptocurrency stocks known to have performed well in the market, and you too can think about them in your next investment.
- Coinbase Global, Inc (COIN)
Being one of the top cryptocurrency exchanges, Coinbase has more than 103 million verified users. The company made its preliminary public offering (IPO) in April 2021 and has offered its users a ground to purchase significant cryptocurrencies such as bitcoin, Cardano, and Ethereum.
Though struggling, it is still the most popular exchange in the U.S, with few competitors trading close to the daily trades it makes in a day.
In addition to offering a friendly platform to buy cryptocurrencies, it offers other features that make it more unique and best rated. These include.
NFT Tokens-Coinbase recently announced to move into the non-fungible token to create more avenues for wealth creation.
Blockchain Analytics- Blockchain analytics have helped financial institutions and governments monitor any fraudulent transactions and the legitimacy of the wallets being used across the globe.
- NVIDIA Corporation (NVDA)
The Chipmaker Nvidia is a company well known for designing graphics processing units and powering high-end video gaming and graphic cards. The company plays a significant role in creating crypto assets and artificial intelligence.
Its major card, the Nvidias CMP HX, was designed to facilitate professional mining, which has boosted the investing of cryptocurrencies and gaining of value from them. However, the business has been volatile due to supply challenges and the reduced demand for cryptocurrencies.
Being a solid crypto investment, Nvidia added a mining limiter to one of the recently released cards to curb unacceptable mining products on its platform but still supports cryptocurrency mining in a unique way.
- Advance Micro Devices, Inc (AMD)
Just like Nvidia, AMD is another top designer of graphic processing units that are used in cryptocurrency mining. Though it does not operate directly with cryptocurrency, it offers support in providing high-end graphic cards that function as a catalyst in the creation of cryptocurrencies.
AMD continues to increase in chip technology production and has supported the development of more technologies such as blockchain. This has made it an industry leader that one can use for a lucrative investment.
- Tesla, Inc (TSLA)
Tesla is another highly rated cryptocurrency stock. Being an electric car company, it has proven to perform well in the electric vehicle market. It has reached over $1 trillion in stock surges. Besides, its stock value currently stands at 959.69 billion.
In the manufacture of electric vehicles, Elon Musk has advocated the use of cryptocurrency, and this was evident when Tesla purchased $1.5 billion worth of Bitcoin. Besides, Tesla accepted the purchase of EVs using Bitcoin in February 2021, though this was later suspended due to environmental impacts. But overall, this suspension might not take long since Elon is working towards ensuring that the issue is lifted.
Now, as Tesla continues to adopt the use of cryptocurrencies, investing in the company can be a worthy investment bearing in mind that Electric cars are tomorrow’s future.
- PayPal Holdings (PYPL)
PayPal is an internationally recognized digital payment platform that makes affordable and efficient payments to its customers. It implemented an App (Venmo)that enhances money transfers from one person to another.
PayPal unlocked the cryptocurrency trading platform in 2020, opening a window for trading in cryptocurrencies such as bitcoin, bitcoin cash, Litecoin, and Ethereum. With time, it is expected that PayPal will launch its stablecoin to compete with the existing coins as it fights to become one of the best digital payment platforms.
This information makes it imperative to invest in PayPal stocks and reap huge returns.
- Riot Blockchain, Inc (RIOT)
Being one of the largest mining companies in America, RIOT aims at expanding its mining hash rate and enable investors to mine more.
It is doing this through joint venture activities initiatives that contribute to improvement in blockchain investments.
It aims to increase the number of miners to 115,450 by the end of 2023. It also enhances its payment system by providing escrow services because of its improved engagement in the cryptocurrency industry.
Since RIOT is directly engaged in the cryptocurrency industry, it happens to be riskier, though being a market leader, it stands out among other competitors and is worth investing in.
- CME Group, Inc (CME)
CME is one of the leading derivatives in the market; its main aim is to provide better ways of improving performance while managing risk. CME advises on the best crypto stocks to invest in while leveraging the risk factor. Because numerous cryptocurrencies are in circulation, CME invented a market for micro bitcoin futures in 2017.
This was made available on the exchange in February 2021 and is well known as the micro ether futures, enabling users to mitigate the risk of trading with cryptocurrencies.
With time CME derivatives are expected to invent more cryptocurrency assets that will be listed in the exchange.
- Marathon Digital Holdings, Inc (MARA)
MARA is amongst the leading Bitcoin mining companies in the U.S. Mining involves the creation of more cryptocurrencies by ensuring that the transactions involved are verified and that the security of the blockchain technology is in place.
When you invest with MARA, you do not have to have direct exposure to bitcoin because the company assists in overseeing the challenges of holding the bitcoin. Its main aim is to ensure sustainability and care for the environment through renewable energy.
By August 2022, Marathon Digital holdings had more than 34,000 miners with 6,483 bitcoins in stock with a value of $130 million. This growth has been attributed to the speed of the mining machine that has enabled mining to be more efficient and affordable.
This is, however, expected to rise to over 65,000 miners by the end of November 2022.
- Block (SQ)
This is another digital payment system that was established to eradicate intermediaries, thereby reducing costs for businesses and consumers. It was formerly known as Square, whose focus was on the blockchain.
Its purpose is to give users a way to buy and hold cryptocurrencies in the digital wallet.
It also aims to become a global leader for crypto transactions, curb any costs associated with using traditional banks, and ensure that users spend little money on transaction fees.
Bearing this in mind, mainly on how Block is focusing on blockchain and the growth so far experienced, it is essential to invest in Block stock whether you are new in crypto or experienced.
- MicroStrategy, Inc (MSTR)
MSTR is a global company that deals with business intelligence and the provision of analytics solutions. Most of its customers include consultants, finance, Banking, and insurance, all of whose aim is to maintain a high level of business intelligence options.
MicroStrategy became part of the stock investments company when it purchased $4 billion in bitcoin, intending to increase its stock to $500 billion worth of bitcoin. This information is derived from the Securities and Exchange Commission in the U.S.
MSTR is highly engaged in investments and endeavors to make it it is core business in the near future. Note that when bitcoin prices plummeted earlier this year, MicroStrategy hit $3.4 billion, a fact that is evident to look at and consider investing in their stocks.
- Hut 8 Mining Corp. (Hut)
Based in Canada, Hut 8 Mining is a top-rated mining company worth considering if you wish to mine bitcoin and Ethereum. It is popularly known for the definite cash flows in possession.
It has held several activities, including lenting out its mined bitcoin, which has made it get numerous returns. It has also created its coin, though still in its custody, awaiting completion.
The event for the rollout is expected to be officiated at a mining facility based in Alberta, which will be given authority to 100% self-mining.
Hut 8 is considered less risky since it hosts services for its clients, thereby avoiding challenges in buying cryptocurrencies.
While there are different opinions derived from the cryptocurrency business- primarily because of the volatility involved, with these stocks, you stand a chance to benefit with less risk as you gain experience in the cryptocurrency world.