Cryptocurrency investment has become a hot cake and is the new trend in the market. The creation of digital currencies like Bitcoin and Ethereum has led to the creation of new investments. Digital currencies such as Bitcoin were unheard of in 2012, but they are trending now. Investing in cryptocurrency has gone a step higher with many blockchain companies trading in the stock market. As such, in this article, we are going to look at some of the best crypto stocks to invest in.
Best Crypto Stock to Buy Right Now
The following are some of the best crypto stocks to buy right now and make good returns.
1. Coinbase Global, Inc (COIN)
Coinbase Global (NASDAQ:COIN) is a cryptocurrency exchange platform offering some of the best crypto stocks. The company made its first Initial Public Offering (IPO) in April 2021. It mainly deals with the cryptocurrencies like Bitcoin, Ethereum, and Cardano. The platform charges a small fee when users buy or sell cryptocurrencies. It is the largest crypto exchange platform in the US.
Coinbase Global offers blockchain analytics to governments and institutions. Through blockchain analytics, users can monitor fraudulent transactions. Besides, it also offers NFT tokens. Through NFT tokens, artists and inventors earn from their work.
2. Tesla (TSLA)
Tesla (NASDAQ:TSLA) is an electric car company whose CEO is Elon Musk. Tesla ranks second best crypto stock to invest in. Elon Musk, the company CEO greatly advocates for the use of cryptocurrency. Tesla holds most of its net worth in crypto after it bought $2.5 billion worth of crypto in 2021.
Tesla accepts crypto payments from customers buying electric vehicles. However, in 2021, Tesla stopped accepting crypto payments due to its negative environmental impact.
Musk has been advocating for other cryptocurrencies like dogecoin. As such, investing in Tesla stocks is a great way to make the best out of crypto stocks.
3. NVIDIA Corporation (NVDA)
NVIDIA (NASDAQ:NVDA) is a graphic card manufacturer for computer gaming. It offers some of the best crypto stocks. In recent years, the company has expanded to crypto mining by solving complex mathematical problems.
Since 2020, NVIDIA share prices have risen by more than 660% until 2021 when its stock reached a high of $346.47. After that, the stocks fell by around 40%. Despite the fall, NVIDIA is still one of the best crypto stocks to buy now.
4. PayPal Holdings Inc, (PYPL)
PayPal (NASDAQ:PYPL)is a mobile payment service where you can invest in its crypto stocks. PayPal allows users to purchase and hold cryptocurrencies in Venmo's digital wallet. Through Venmo, PayPal’s digital wallet, users can make peer-to-peer payments.
Through Venmo, you can trade in bitcoin, Bitcoin Cash, Ethereum, and Litecoin. PayPal and Venmo added crypto payment and investing tools a while ago. Through PayPal, users can access Decentralized Finance (DeFi) applications.
5. Block (SQ)
Block, (NASDAQ:SQ) formerly Square is a mobile payment company. Block owns Cash App used in bitcoin trading. Cash App helps businesses to use bitcoin in their operations. This helps to eliminate foreign fees charged when customers and businesses transact in different currencies.
In April 2022, Cash App added Bitcoin Lighting Network support so that users can transfer Bitcoin without transaction fees. Investing in Block stock is a great deal for experienced and beginner crypto stock investors.
6. Robinhood Markets Inc. (HOOD)
Robinhood (NASDAQ:HOOD) Markets is a brokerage platform where you can buy stocks, options, cryptocurrencies, and precious metals. You can also buy or sell cryptocurrencies like bitcoin, dogecoin, and Ethereum commission free.
Robinhood reported 25% stock gains due to the popularity of dogecoin among retail investors. Its total crypto transaction revenue stood at $223 million in 2022. This makes Robinhood crypto stocks some of the best to buy in the market.
7. Hut 8 Mining Corp. (HUT)
Hut 8 Mining Corp (NASDAQ:HUT) is a crypto mining company you should also consider for crypto stock investment. It is based in Canada and is involved in the mining of bitcoin and Ethereum. The company solves complex mathematical problems and validates transactions to provide hosting services to its institutional clients.
Besides, it uses alternative sources of energy to power its operations. As such, the company does not lead to environmental pollution and this is a plus to its investors. During the first quarter of 2022, the company reported revenues of $40.90 million representing a 52.97% increase. This makes it one of the best crypto stocks to buy right now.
8. Riot Blockchain (RIOT)
Riot (NASDAQ:RIOT) Blockchain is a bitcoin mining company in the US. Riot deals with crypto and has several joint ventures and investments in the blockchain industry. The company mainly deals with blockchain technology. It is also aiming at developing blockchain-based escrow services for businesses.
9. Micro Strategy, Inc (MSTR)
MicroStrategy (NASDAQ:MSTR) is a business and analytics service company. The company is involved in the design, development, sales, and marketing of its software platforms. Some of its business clients include Amazon, Web Services, and Accenture. The company helps its customers optimize their business intelligence platforms.
The company's dealings in cryptocurrency started after it purchased bitcoin worth $4 billion. Currently, the company holds over 105,000 bitcoins. In 2020, the company shares rose by over 360%. The company shares currently trade at $772.58.
Read more: How to invest in stocks for beginners UK.
10. Marathon Digital Holdings, Inc (MARA)
Marathon Digital Holdings (NASDAQ:MARA) is among the best crypto stocks to buy right now. It is a crypto mining company in North America. It uses low energy costs and renewable energy to avoid environmental pollution. It is helping investors get exposure to Bitcoin.
MARA has over 34,000 active miners and 6,483 bitcoins in holdings. The company has seen tremendous growth due to its many miners who have increased bitcoin mining speed. In 2020, MARA reported a 1,400% gain in revenue.
Summary of Best Crypto Stocks to Invest In Right Now
The above are some of the best stocks to invest in. With many businesses embracing the use of cryptocurrency, investing in crypto stocks is a great deal for many investors. Although cryptocurrencies continue to gain popularity, many people remain in the dark about crypto. If you don’t want to invest in crypto directly, you can invest in crypto stock. To do so, consider the above crypto stocks.