London, England, 2nd July 2021, ZEXPRWIRE – Those looking to diversify their investments are going to the most popular cryptocurrencies. Many emerging businesses are now accepting cryptocurrencies as legal payment methods, making this a good time to invest in cryptocurrencies, depending on your financial condition. This article will help you figure out which currencies are the best to invest in right now.
There are many Cryptocurrencies with potential, therefore here are five cryptos that appear to be decent investments in 2021. Despite the fact that Bitcoin is the most well-known cryptocurrency, The Investment Center Broker, David Keller, says there are many more on the rise that smaller investors should investigate. Consider the five Bitcoin alternatives listed below.
5. Square, Inc. (NYSE: SQ)
Square, Inc. (NYSE: SQ) is a payments firm that has risen to prominence as one of the largest institutional investors of cryptocurrencies in recent years, with over $400 million in crypto-related investments. As a result, the stock has been one of the most affected on the market as Bitcoin has fallen in value over the last several weeks. However, until the crypto storm passes, the company has a strong business strategy and plenty of potential to grow in sectors other than cryptocurrency. It comes in fifth place on our list of the top cryptocurrency stocks to buy in 2021.
Over the last year, the stock of Square, Inc. (NYSE: SQ) has returned more than 132 percent to investors. On June 4, it jumped more than 3% after CEO Jack Dorsey said the company was looking into creating and selling a hardware wallet for cryptocurrencies like Bitcoin.
4. Tesla, Inc. (NASDAQ: TSLA)
Tesla, Inc. (NASDAQ: TSLA) is a renewable energy and electric car company that has continuously supported the growth of blockchain-based digital currencies. Bitcoin payments for vehicle sales will be resumed after Bitcoin miners employ at least 50% renewable energy in their operations, according to the firm. After CEO Elon Musk expressed environmental worries about mining, the business had already suspended Bitcoin payments for sales. It comes in fourth position on our list of the top cryptocurrency stocks to buy in 2021.
On June 15, financial adviser Mizuho upgraded Tesla, Inc. (NASDAQ: TSLA) to a Buy rating, citing solid battery electric car sales trends. During the first three months of 2021, the company was the largest EV company in the world, with more than 24% of the overall market share in the industry.
3. Advanced Micro Devices, Inc. (NASDAQ: AMD)
Advanced Micro Devices, Inc. (NASDAQ: AMD) manufactures semiconductor chips that are used to mine cryptocurrency. The company’s stock has surged in recent weeks amid a chip scarcity in the sector due to increasing demand and supply chain difficulties. Because the scarcity is projected to continue several months, the stock has lots of potential to rise. As mining activities expand, the firm’s products continue to sell like hotcakes.
On our list of the top cryptocurrency stocks to buy in in 2021, Advanced Micro Devices, Inc. (NASDAQ: AMD) is ranked third. Over the last year, investors have received a 46 percent return on their investment in the company’s stock.
2. SOS Limited (NYSE: SOS)
SOS Limited (NYSE: SOS) is a Chinese technology firm that specialises in data mining and analysis. The company is well-known for having a cloud-based emergency rescue service software that provides medical, auto, and financial assistance. The firm recorded a more than 330 percent rise in fiscal year sales in early May. It comes in second on our list of the top cryptocurrency stocks to invest in.
SOS Limited (NYSE: SOS) announced in April that it has agreed to buy 575 bitcoin mining machines. Yandai Wang, the company’s CEO, has previously stated that crypto will be a critical component of the company’s development plan in 2021 and beyond. SOS intends to use the machines to mine Ethereum, the second most popular cryptocurrency.
1. Coinbase Global, Inc. (NASDAQ: COIN)
The largest cryptocurrency exchange in the world is Coinbase Global, Inc. (NASDAQ: COIN). It launched on the stock market in April of this year, with a market capitalization of $86 billion on the first day of trading. It comes in first place on our list of the top cryptocurrency stocks to buy in 2021. Canaccord Genuity began coverage on the company on June 16 with a Buy rating and a $285 price target, suggesting a 23 percent upside potential as crypto equities steadily regain momentum after a fall in recent weeks.
Coinbase Global, Inc. (NASDAQ: COIN) stated on June 10 that it will be expanding its lending services to other US states. Users in the United States can use the company’s borrowing services to borrow money using Bitcoin as collateral.
According to media sources, Coinbase Global, Inc. (NASDAQ: COIN) has been collaborating with a retirement plans business to allow 401(k) participants to invest in cryptocurrencies.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.