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Stocks of Companies Involved in Cryptos

Stocks of Companies

July 6, 2021 | 

JOHN K MWANIKI |  0 Comments| 

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Get Into Cryptocurrency Trading Today

Cryptocurrencies have captured the imagination of most investors. Their surging value has created immense wealth for investors who initially embraced them. Traders and investors are now very interested in finding the next viable tokens or coins to invest in. You currently have over 4000 cryptocurrencies in the market to choose from. With the recent changes worldwide, people are all gravitating towards the virtual realm. 

Companies that have launched these cryptos are also continually investing in revolutionary technology. These advancements enable the systems to function better and have solidified this sector. The ever-increasing number of companies keen on developing and advancing crypto technologies is also key. Cryptocurrency has the capability of becoming a leader in financial technology. Among the best technologies in this industry is blockchain. The main aim behind developing this technology was to create new transactional technology for internet use. 

Blockchain is a digital ledger that automatically tracks transactions between different parties. It also confirms ownership. As an investor or trader, you can take up various positions in digital assets. An excellent example of doing this is buying a few stocks of companies. If you wish to reap large rewards, the best thing is to invest in bigger and more established companies. Here are the top crypto stocks that you should consider to be a step ahead as a trader.

1.Coinbase Global 

Also known as COIN, the Coinbase Global stocks currently trade at about $240. The highest listing so far has been about $430. If you are interested in making profits, you need this stock in your portfolio. COIN is enjoying rapid growth. That can be accredited to the rapid cryptocurrency adoption rate. For the 2020 fiscal year, Coinbase stocks of companies grew by an impressive 139.4% to a whopping $1.277 million. During 2021's first fiscal quarter, the number of verified users on their platform increased to 56 million. 

That is a significant increase from the 32 million users from 2019's financial year. Apart from that, there has also been a 42% increase in revenue from FY2020 to $1,800 million. Without a doubt, the number of investors will keep growing at a similarly impressive rate. Coinbase Global’s business is also remarkable when you look at it from the margin perspective. So far this year, it has guided for an EBITDA of an impressive $1.1 billion. It implies a 61.1% EBITDA margin. That is likely to expand by some 2,000 basis points from year to year. 

COIN also has a strengthened institutional customer base, aside from their growing retail users. The institutional clients are yet another opportunity to increase their revenue. Generally, Coinbase shares are attractive and possess the potential to provide you with a robust cash flow in the future. 

2.HIVE Blockchain 

An HVBTF stock is among the most viable stocks to buy currently. It is more diversified and has mining operations with both Bitcoin and Ethereum. Hive Blockchain reportedly made an income of $13.7 million from mining for Q3 2021. Their income growth was put at 174% for the respective year-to-year basis. HVBTF mined 165 Bitcoins and 21,500 Ethereum in the first quarter. A critical factor to consider is the recent price surges for Ethereum. 

Because these tokens are at an all-time high, this company is positioned to benefit from an increased focus on this digital currency. Another significant development is that the company's capacity expansion of 40% in Iceland is underway. They are also expanding by 200% in Canada and 20% in Sweden. Revenue made from mining is likely to continue surging in this second quarter. HVBTF has yet another major advancement which is their newly announced stock-swap agreements. 

They have also partnered with DeFi Technologies to build and manage assets within the decentralized finance sector. Deposits in the application mentioned above increased from $1 billion in June of 2020 to $40 billion at the end of January 2021. Therefore, the decentralized finance space might be another significant game-changer for Hive Blockchain apart from crypto mining. 

3.Marathon Digital 

MARA is also among the best stocks from companies to consider adding to your investment portfolio. The shares have surged by over 7,300% in the last year. Marathon Digital stocks will likely fall within a consolidation range. Additionally, you might witness new breakouts soon. As a crypto miner, this company focuses on the crypto Bitcoin. In January of 2021, they mined 50.4 Bitcoins. The company mined 162.1 Bitcoins in April and is looking forward to significant expansion. 

They say that this is only the beginning. MARA expects to deploy 103,120 miners by Q1 2022. They also intend to mine about 60 Bitcoins each day once they complete their expansion. The value of each Bitcoin currently stands at $55,000. MARA, therefore, expects to earn $94.4 million as revenue for every month along with $86.5 million in mining profits. By the first quarter of 2022, there are very high chances that Bitcoin will be trading for more than its $55,000 current value. This information provides a better understanding of the surging success of the MARA stock. 

Once done with its expansion, the company has a visibility of $1.1 billion in revenues. Another significant win for them is their partnership with Beowulf. The aim of this partnership is cheaper electricity. They expect their production cost to average at around $4,541. If you consider their mining profits, their cash flow will probably increase in the 2022 financial year moving forward. 

Take away 

These are three of the best crypto stocks to invest in if you want to reap significant rewards. Remember that cryptocurrency assets are relatively new, and hence they aren't mainstream. The industry still has to face other obstacles in its adoption in the future. Regardless, companies that facilitated development early on stand to benefit greatly when and if they become more mainstream. Thus, it is best to invest in any of these top stocks.

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