Are you looking forward to investing in cryptocurrency stocks but don’t know how to go about it? Look here.
Aside from the known fact that every investment is a risk, buying cryptocurrency stocks is a great way to earn a side income.
As you probably know already, Cryptocurrency is a digital currency created as an alternative way of payment. Cryptocurrency transactions are verified and records are accurately kept and maintained using cryptography.
In simple terms, cryptocurrencies are popular options for online payments. Cryptocurrencies can function both as a digital currency and as virtual accounting systems.
If you anticipate investing in cryptocurrency stocks but don’t know how to go about it, this blog post will walk you through profitable cryptocurrency stocks to buy and their market capitalization.
What Are Cryptocurrency Stocks?
Cryptocurrencies are stored in digital wallets, if you lose your wallet or access to them, your entire cryptocurrency investment has been lost.
Cryptocurrency stocks are stocks that are related to the cryptocurrency industry. This can include companies that produce cryptocurrency, companies that use cryptocurrency as part of their business model, and companies that offer services related to cryptocurrency.
Cryptocurrency stocks are traded on regular stock exchanges and can be bought and sold just like any other stock.
Cryptocurrency stocks are publicly traded companies that operate businesses that are directly engaged in cryptocurrency markets or blockchain technology or are otherwise exposed to the crypto market.
6 Best Cryptocurrency Stocks To Buy In 2023
The cryptocurrency began with Bitcoin (BTC) in 2009. Today, the market has grown wide to encompass different types of coins, blockchains, crypto exchanges, and payment processors.
Here are six cryptocurrency stocks that you can buy now and earn money from. They are the strongest cases for surviving the cryptocurrency fluctuation now and in years to come.
1. Block Inc. (SQ)
Market Cap: $38.90 billion
Block Inc. is a multinational financial company that offers mobile payment, financial services, and a point of the sales platform for sellers and consumers. It is the parent company of Square and Cash App.
Block Inc. is one of the best cryptocurrency stocks to buy now.
According to CoinGecko, Block is currently holding around $136 million in Bitcoin which makes it one of the largest Bitcoin investors.
Block, Inc. Cash App makes it convenient to invest in cryptocurrency stocks and Bitcoin.
2. PayPal Holdings, Inc. (PYPL)
Market Cap: $87.43 billion
PayPal is a digital platform that facilitates online and mobile payments for consumers and merchants and also offers financial technology solutions.
PayPal has its own digital wallets and its users can buy, transfer and sell cryptocurrencies. PayPal is a good cryptocurrency stock to buy now.
Buying Cryptocurrency stocks from Paypal allows you to worry less about how to keep your assets since you will have access to digital wallets where you can store them.
3. Visa Inc. (Visa)
Market Cap: $437.70 billion
Visa Inc. (Visa) is a payments technology company that facilitates digital payments across different countries in the world. The Company connects consumers, merchants, financial institutions, businesses, strategic partners, and government entities to access online payments easily.
Visa Inc also offers an open banking platform that enables financial institutions, fintech, and merchants to build financial products and services called Tink.
Visa has partnered with several crypto exchanges, including Crypto.com and Coinbase, to provide crypto debit cards and crypto credit cards. For investors, Visa is a good cryptocurrency stock to buy now.
4. Coinbase Global, Inc. (COIN)
Market Cap: $7.67 billion
Coinbase Global, Inc. is an American traded company that operates a cryptocurrency exchange platform. Coinbase is one of the top cryptocurrency exchanges, with over 108 million verified users.
The cryptocurrency 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.
Coinbase is known as the largest pure-play cryptocurrency exchange stock. The company’s exchange allows retail and institutional investors to buy, sell, store and send cryptocurrency.
5. MicroStrategy Inc. (MSTR)
Market Cap: $1.46billion
MicroStrategy Incorporated is a top American company leading in the industry that provides business intelligence, mobile software, and cloud-based services.
According to CoinGecko, MicroStrategy currently holds more than $2.2 billion in Bitcoin.
MicroStrategy has been adding to its Bitcoin stake throughout 2023, including the purchase of about 301 BTC coins at an average purchase price in September 2023. MicroStrategy is one of the best cryptocurrency stocks to buy.
6. Silvergate Capital (SI)
Market Cap: $397.95 million
Silvergate provides infrastructure solutions for the cryptocurrency industry. It is one of the most popular and trusted Cryptocurrency stocks to invest in.
Silvergate is among the cryptocurrency companies navigating crypto winter successfully. The bank reported an impressive 84.4% net income growth in the third quarter of 2023. It is one of the top cryptocurrency stocks to buy now.
Factors To Consider When Choosing Cryptocurrency Stocks to Buy.
When it comes to buying cryptocurrency stocks, you shouldn’t just pick any cryptocurrency stock. Aside from making your own research, you should also consider some of these factors before choosing cryptocurrency stocks to buy.
1. Market Capitalization
Market capitalization is also called Market cap and is the measure of the size of a company. To calculate market cap, you multiply the total number of outstanding shares of a company by the current market price of a single share.
Market capitalization is one of the important things to research about before choosing a cryptocurrency stock to invest in.
Top cryptocurrencies based on Market capitalization include Bitcoin, Ethereum, Tether, Binance USD, Dogecoin, etc.
Companies with a higher market cap are generally considered to be more established and financially stable than those with a lower market cap.
2. Current supply of cryptocurrency stock
You should know if there’ll be a limited supply of whatever cryptocurrency stock you want to buy and also consider the number of coins that are already in circulation.
The demand for a particular cryptocurrency stock can be increasing daily but if they’re unable to meet up, supply will be limited.
The prices of cryptocurrencies might fluctuate many times over a short period because they are highly volatile. This can be both a risk and an opportunity, but it’s important to be aware of and prepared for the volatility before investing.
4. Regulatory environment
The legal status of cryptocurrencies can vary significantly from country to country. It’s important to understand the legal and regulatory environment in your country before investing.
Cryptocurrency stocks are stored in digital wallets, and it’s important to choose a secure wallet to store your assets.
How to Buy Cryptocurrency Stocks
To buy cryptocurrency stocks, you will need to follow these steps:
1. Find a brokerage firm/company that offers cryptocurrency stocks
Not all brokerage firms or companies offer the ability to buy cryptocurrency stocks. You will need to find one that does.
2. Open a brokerage account
When you find a brokerage firm that sells cryptocurrency stocks, the next thing to do is open an account with them. This might require you to fill out a form and provide your personal details which might include your identification documents.
3. Fund your account
Before you can buy cryptocurrency stocks, you will need to transfer money into your brokerage account. This can be done by linking a bank account or using a credit or debit card.
4. Place your order
Once your account is funded, you can place an order to buy cryptocurrency stocks. You will need to specify the ticker symbol for the cryptocurrency you want to buy, as well as the number of shares you want to purchase.
5. Wait for your order to be filled
When you place an order to buy cryptocurrency stocks, it may take some time for the order to be filled. This is because the stock market is constantly changing, and the price of the cryptocurrency you are interested in may fluctuate.
6. Monitor your investment
After your order is filled, you will own cryptocurrency stocks. But, it is important to monitor your investments so you can know when and when not to sell.
How does investing in cryptocurrency stocks differ from investing in cryptocurrencies?
Investing in cryptocurrency involves buying and holding digital currencies, such as Bitcoin or Ethereum, with the expectation that their value will increase over time.
On the other hand, investing in cryptocurrency stock involves buying shares of publicly-traded companies that are involved in the cryptocurrency industry. This could include companies that mine cryptocurrency, companies that develop cryptocurrency-related technologies, or companies that accept cryptocurrency as a form of payment.
Risk is not an excuse not to buy cryptocurrency stocks, you must only make sure that you’re not spending more than you want to lose.
Cryptocurrency stocks are a good way to get started with investing as they are less riskier. If you’re a newbie in the Cryptocurrency world and you don’t want to learn much before you get started, you can buy cryptocurrency stocks.
Every investment is risky so it’s important you do your due research before investing in any cryptocurrency stock.