Best 5 Cryptocurrency Stocks to Buy Now

Best 5 Cryptocurrency Stocks to Buy...
Best 5 Cryptocurrency Stocks to Buy Now

Especially for early investors who are willing to keep assets for the long term, investing in cryptocurrencies may prove to be a successful method to accumulate wealth. Due to the very unpredictable nature of the cryptocurrency market, however, profits cannot be assured, which has led many potential investors to have second thoughts.

Individual investors may undoubtedly put their money into cryptocurrencies on their own, perhaps by purchasing very tiny quantities of a variety of digital assets. Investing in firms that are even larger and more established and that profit from the growing popularity of blockchain and crypto-assets is a better approach to obtain exposure to the industry than just buying stocks in cryptocurrency companies.

In this article, we are going to discuss the best 5 cryptocurrency stocks to buy and hold for the future.

Top 5 Cryptocurrency Stocks to Buy

1. Tesla Inc.

Market Cap: 928.93B

Given that Tesla maintains a sizeable holding of the digital asset on its balance sheet, it is evident that the company is optimistic about the asset’s future prospects. The value of Tesla’s Bitcoin holdings is estimated to be above one billion dollars.

Although users are unable to use DOGE to purchase Tesla automobiles at this time, Tesla does accept payment in the form of the meme currency dogecoin for some of the products sold on its website.

Elon Musk, CEO of Tesla and now the richest person on the planet is an outspoken advocate of several cryptocurrencies. Bitcoin and Dogecoin are all in his own ownership. Buying shares in Tesla may be one method for the regular investor to get exposure to cryptocurrencies without having to actively acquire cryptocurrency itself.

Also Read: Top 6 Cryptocurrency to Invest

2. NVIDIA

Market Cap: 433.29B

Nvidia creates chips for a wide variety of devices because of its expertise in the graphics unit business. The company’s flagship products, however, are its high-end graphics cards for PC and console video games.

The CMP HX card from Nvidia is an industrial-strength mining rig. First, there were supply chain problems, and now, with the price of cryptocurrencies falling, there is less demand for mining equipment, thus business is erratic.

Nvidia recently settled for a $5.5 million punishment for failing to disclose the consequences of mining on its company, namely that miners worsened the graphics card scarcity and pushed up demand by snatching up the cards. This case highlights the dangers of investing in relatively new technology.

A mining limitation has been included on a recently produced card by the corporation to head off any potential mining-related stockpiles of the item in the future.

3. Canaan Inc

Market Cap: 645.67M

Canaan Inc. is a prominent Chinese company in the development and production of integrated circuit final mining equipment devices for Bitcoin mining and associated activities. With its expertise in the areas of ASIC high-performance computer chip design, chip research, and development, computing equipment manufacture, and software services, it has emerged as one of the top pure-play cryptocurrency stocks to purchase right now.

If you want to invest in the cryptocurrency market, Canaan is a company worth considering because of its low price. The forward price-to-earnings ratio for Canaan Inc. as of June 4 was 1.44.

In order to verify Bitcoin network blocks, the company’s Avalon ASCIS can make billions of guesses every second at the proper hash.

Also Read: 5 best international stocks to buy

4. Hut 8 Mining Corp

Market Cap: 555.06M

Investment in Hut 8 Mining, a prominent bitcoin mining firm, is also a good idea. The Canadian firm is well-known for its stable cash flow and its mining of bitcoin and Ethereum. HUT’s compounding gains from lending out its mined bitcoin rather than selling it were realized until very recently. According to CoinDesk, it now has 100% of its cryptocurrency back in its control.

The business announced a total of 264 Bitcoins mined, with a daily average output of 9.11 Bitcoin. In the cryptocurrency mining industry, this firm is highly recommended as a 2019 top selection.

Rather than dealing with the hassle and limitations of genuine cryptocurrency purchases, you may use Hut 8 instead.

Also Read: 6 ways to earn money from cryptocurrency

5.  Bitfarms Ltd

Market Cap: 376.49M

Another major bitcoin miner headquartered in North America is Bitfarms Ltd. Server farms owned and operated by the firm verify Bitcoin Blockchain transactions, earning the company bitcoin via block rewards and transaction fees.

Bitfarms Ltd. is growing rapidly and becoming a major player in the cryptocurrency sector. There is interest among investors in Bitfarms Ltd.