You can invest in crypto and you can invest in stocks, but can you also invest in good cryptocurrencies? In this article, Alphastocks gives you three interesting crypto stocks to explore further.
With more than 18,000 different cryptocurrencies on the market, investing in technologies that act as the ‘gateway’ between the digital blockchain space can be a sensible way to go about trying to guess which token or coin is the next Bitcoin (BTC). or Ethereum (ETH). will be. And there is no shortage of innovative companies trying to build bridges between the two worlds.
Crypto-exchange Coinbase Global
Coinbase Global is a broker for cryptocurrency trading. The company is a popular platform for buying major cryptocurrencies such as Bitcoin, Ethereum and Cardano (ADA) and allows users to trade over 160 altcoins. The company has around 100 million users and is still in a strong growth phase. Coinbase earns a (small) transaction fee every time someone places an order to buy or sell a cryptocurrency.
But the company aims to be more than just a place to shop. It also sponsors a debit card that allows consumers to spend money from the balance in their digital wallets and has launched a cloud platform for businesses that use and store digital currencies. Coinbase also makes money with non-fungible tokens (NFTs), Cloud Services, Coinbase Pro and more.
PayPal is one of the world’s most well-known digital payment systems. In 2002, eBay bought PayPal because of its huge success. At that time, more than 50% of eBay users were already using the online payment system. PayPal Holdings is based in the United States but is available in almost all countries. The company’s combined payment solutions, including PayPal, PayPal Credit, Braintree, Venmo, Xoom, iZettle and Hyperwallet products and services, make up the payment platform. US PayPal users will soon be able to purchase cryptocurrencies on the platform.
The payment service will sell Bitcoin, Bitcoin Cash, Ethereum and Litecoin. From the beginning of 2021, customers will be able to use their crypto for purchases without first exchanging it on an exchange. PayPal has indicated that they want to invest more and more in cryptocurrencies because they see great potential in cryptocurrencies. Time will tell whether PayPal has made the right choice.
Nvidia and AMD
Chipmakers Nvidia and AMD are not directly involved in cryptocurrencies, but these two semiconductor companies are the main designers of graphics processor units (GPUs). GPUs, best known for their advanced video game graphics, now enable computer-intensive applications such as data centers, artificial intelligence, and cryptocurrency.
Cryptography and blockchain creation require enormous computing power, and GPUs are well-suited for this task. In 2018, rising cryptocurrency prices were a driving force behind Nvidia and AMD stock price increases as digital currency miners (people who use their computers to create new units of digital assets) rushed to buy GPUs for these. GPUs remain a basic piece of hardware for creating and managing cryptocurrencies. Nvidia even launched a new series of chips specifically for cryptocurrency mining in early 2021. It could be interesting to investigate further …
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