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Colton Bell
Colton Bell

Best Cryptocurrency Stocks To Buy

Due to surges in value, many early crypto investors have made millions seemingly overnight. Although many lost money just as quickly, investors are still on the watch for the next cryptocurrency to invest in.

best cryptocurrency stocks to buy

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Since the crypto market is relatively new, that could explain some of the massive price swings seen in various coins. Although this level of volatility is a risk factor, cryptocurrency-related investments can be a good fit for some investors.

Fortunately, there are several ways to gain exposure to the various digital assets without directly investing in a specific coin. Buying stocks that deal with blockchain technology or investing in crypto assets is one way to have indirect exposure to cryptocurrencies.

The crypto trading platform allows users to buy and sell digital assets, including bitcoin, ethereum, solana, cardano and hundreds of other coins, at a small fee. While Coinbase is a crypto trading platform, it has several other features that make it one of the best cryptocurrency stocks to buy.

Electric car company Tesla ranks second on the list of the best cryptocurrency stocks. It has proven to be one of the most successful companies in the EV market, with a market cap that has reached over $1 trillion during stock surges and currently sits at $602.95 billion.

Musk is a cryptocurrency advocate and believes in the future of crypto assets. Tesla purchased $1.5 billion worth of bitcoin in 2021. Before Tesla sold 75% of its holdings, the value soared, and then plummeted. However, the loss is small beans for Tesla, representing a minor percentage of its cash position and a fraction of a percent of its market value.

The company has added a mining limiter to newly released cards to prevent future mining-related runs on its product. However, as the creator of technology that supports cryptocurrency mining and plays an integral part in the PC graphics card industry overall, Nvidia is a solid crypto investment.

Traditionally, people have had to rely on banks for international transactions, and they typically pay huge sums in foreign exchange fees. With cryptocurrency transactions, the central intermediary is removed, so less money is spent on the transaction process.

These stocks include popular crypto exchanges, cryptocurrency miners, blockchain technology specialists and companies that have large cryptocurrency holdings on their balance sheets. They are typically highly correlated to cryptocurrency price fluctuations, making them extremely volatile and unpredictable.

Cryptocurrency investors and analysts generally expect the share prices of most crypto stocks to rise over the long term if cryptocurrency adoption and use continues to expand globally. But this type of volatile investment may not be suitable for all investors.

Cryptocurrency investors can balance high exposure to crypto markets and responsible risk management by identifying crypto stocks that have diversified, profitable business models and attractive valuations based on fundamental metrics such as price-to-earnings (P/E) ratio and price-to-sales ratio.

Wayne Duggan is a Forbes Advisor contributor. He is also a staff writer at Benzinga, where he has reported on breaking financial market news and analyst commentary related to popular stocks since 2014. Mr. Duggan is also the author of the book "Beating Wall Street With Common Sense" and has contributed news and analysis to U.S. News & World Report, Seeking Alpha, and The Motley Fool. Mr. Duggan is a graduate of the Massachusetts Institute of Technology and resides in Biloxi, Mississippi.

In this article, we discuss 10 best cryptocurrency stocks to buy according to hedge funds. If you want to see more stocks in this selection, check out 5 Best Cryptocurrency Stocks to Buy According to Hedge Funds.

For example, Brazilian investors are indicating a solid proclivity for crypto even as the global industry is crashing down, with an unpredictable future ahead. Brazilians are trusting crypto assets over conventional financial investment products like equities and precious metals. Data from a November survey by Finbold indicates that 33% of Brazilian investors intend to purchase cryptocurrencies such as Bitcoin within the next 12 months. Cryptocurrency ranks as the top investment, followed by real estate at 26%, and stocks took up the third place at 22%.

These are the most popular crypto stocks among the 920 hedge funds tracked by Insider Monkey as of the end of the third quarter of 2022. These companies have deep links to the crypto universe. We have arranged the list according to the hedge fund sentiment around the securities.

American Express Company (NYSE:AXP) is an American multinational firm that specializes in payment card services. In June 2022, American Express Company (NYSE:AXP) disclosed that Abra Crypto Card on the American Express network will transact in U.S. dollars and offer crypto back on any purchase category. American Express Company (NYSE:AXP) is one of the best crypto stocks to buy according to smart investors.

On November 29, Redburn analyst Fahed Kunwar initiated coverage of American Express Company (NYSE:AXP) with a Neutral rating. The brand power of debit is declining as digital wallets become popular, contended the analyst, who believes the market underestimates the cyclical and structural concerns pressuring card network stocks.

Intel Corporation (NASDAQ:INTC), a California-based computer technology and semiconductor company, is one of the best crypto stocks to monitor. Intel Corporation (NASDAQ:INTC) announced in April 2022 its new Intel Blockscale ASIC, offering energy efficient hashing for proof-of-work consensus networks. Intel Blockscale ASIC will provide the energy efficiency and computing power needed to deliver scalable and sustainable operations.

In addition to Apple Inc. (NASDAQ:AAPL), Mastercard Incorporated (NYSE:MA), and Microsoft Corporation (NASDAQ:MSFT), PayPal Holdings, Inc. (NASDAQ:PYPL) is one of the favorite crypto stocks among smart investors.

All eyes are on cryptocurrencies' rises and falls as their popularity grows and investor interest continues to expand. Cryptocurrencies are more volatile than stocks, but that's not necessarily a bad thing. With the crypto market just over a decade old, massive price swings have become a feature of the asset class. This volatility may pose a risk to some investors, but that shouldn't deter them from investing in digital assets altogether. There are ways of gaining access to the buzzy investment opportunity without making a direct investment in a particular coin or token. Another way to gain exposure to crypto is by buying stocks that invest in crypto assets directly, support making the blockchain network more efficient or operate in the crypto market in some capacity. Here are seven popular stocks that are making waves in the crypto world.

Another public company that can be viewed as a Bitcoin play is electric vehicle innovator Tesla. It is clear that Tesla believes in the digital asset's potential, since it holds a good chunk on its balance sheet. Tesla's Bitcoin holdings are valued at more than $1 billion. Tesla also accepts the meme coin Dogecoin as payment for some merchandise on its website, although consumers can't yet use DOGE to buy Tesla vehicles. Tesla CEO Elon Musk, the wealthiest person in the world, is a strong supporter of cryptocurrencies. He personally owns Bitcoin, Ether (ETH) and Dogecoin. For the average investor, purchasing shares of Tesla can be one way to get exposure to cryptocurrency without directly buying crypto.

Coinbase is one of the most popular cryptocurrency exchanges in the world, and users can buy, sell and store their cryptocurrency on its platform. The company's mission is to increase participation in the crypto economy, with customers ranging from individual investors to institutions, family offices and businesses. More than 89 million users across 100-plus countries use this crypto exchange. The company is focused on growing its digital products, investing in a series of crypto projects including Compound, BlockFi, Etherscan and others dedicated to creating an open financial system through digital assets. Cryptocurrency is still in the early stages of adoption and development, so Coinbase can be a solid long-term investment as the crypto market continues to grow.

A competitor to Square's Cash App, PayPal is a global online payments system that allows money transfers and provides a variety of ways for people to get paid. Users can also buy and sell cryptocurrency on PayPal. Earlier this year, PayPal reportedly explored the development of its own stablecoin, potentially to be called PayPal Coin. Stablecoins are cryptocurrencies pegged to an underlying asset, such as the U.S. dollar, that help users manage volatility in crypto markets. PayPal also owns Venmo, another popular mobile payment service that lets users purchase digital assets such as Bitcoin, Ether and Litecoin (LTC). The platform's crypto offerings are available to hundreds of millions of users.

Due to the abnormal surges in value, many early crypto investors have made millions seemingly overnight. Although many lost money just as quickly, investors are still on the watch for the next cryptocurrency to invest in. 041b061a72


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