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But if you missed the boat on Bitcoin, dodged Dogecoin, or slept on Ethereum, know that there’s another way than just buying crypto to capitalize on the currency’s heyday.
That’s right, I’m talking about crypto stocks. Opposed to bagging some of the currency, investing in crypto stocks is a great alternative to make money from the burgeoning boom.
In fact, some finance professionals would advise that buying stocks in crypto companies opposed to the currency itself is a much smarter move. According to an article by The Balance, cryptocurrency lacks the predictors that stocks have.
Crypto is volatile and based on supply and demand, has a smaller market then say gold or the dollar, and is more predisposed to large swings. Stocks in a company, on the other hand, while never fully predictable, give investors more indicators about where a price might go. For example, a company’s price-to-earnings (P/E) ratio that can give investors an insight into a company’s financial prospects.
You don’t have to have bought a bunch of bitcoin in 2009 to make a profit from it in 2021. With this in mind, here are three solid crypto companies worthwhile currently investing in.
A crypto company to keep your eye on is Cloud Nine Technology (Formerly Education) (CNI).
Shares soared 200% this month of the tech company, who recently made a deal to acquire cutting-edge crypto assets. The C$6 million deal, made through incubator Victory Square Technologies, is an exciting step forward for the Vancouver-based company.
Through its patented technology Cloud Nine allows users to mine cryptocurrency from their personal computers. A process that would normally require advanced equipment. With this technology Cloud Nine sees the ability for the masses to get involved in the crypto space.
Disclaimer: Market Buzz contributor has no position in any of the stocks mentioned.
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