Cryptocurrencies have gained global recognition. But a few years back, markets for digital currencies such as Bitcoin, Ethereum, Cardano, and more were virtually unheard of. And today, it has grown into an industry worth more than $2 trillion and counting. One can certainly invest in any crypto by buying small amounts of several different cryptocurrencies. Investing in cryptocurrency is a good idea, but the smart choice is to invest in cryptocurrency stocks that benefit from blockchain and cryptocurrency asset uptake. Because the amount of revenue these crypto service providers derive from blockchain tech has seen explosive growth over the years.
Riot Blockchain, Inc.
Riot Blockchain, Inc. (NASDAQ:RIOT) is an American bitcoin mining company that has increased its bitcoin production by 346 per cent in September 2021 at 406 BTC, compared with the last year. The company also reported solid results in Q2, with GAAP EPS beating the market estimates by $0.19, at $0.22. Therefore, Riot Blockchain, Inc. (NASDAQ:RIOT) is one of the best cryptocurrency stocks to buy in November 2021.
Lately, Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been gaining the attention of many cryptocurrency investors. Hence, Marathon Digital Holdings, Inc. (NASDAQ:MARA) has made it to the list of the top 10 best cryptocurrency stocks to buy in November 2021.
Coinbase Global, Inc. (NASDAQ:COIN), a top cryptocurrency trading exchange, went public in April 2021, valued at $85.8 billion. The company is a popular platform to purchase major cryptocurrencies such as Bitcoin, Ethereum, and Cardano, and it allows users to trade more than 50 altcoins. The stock gained 24.02 per cent in the past month. Recently, Coinbase Global, Inc. (NASDAQ:COIN) has announced its move into the non-fungible token (NFT) space to make the mining purchase easier.
CME Group Inc. (NASDAQ:CME) is a financial derivatives exchange that offers trades in cryptocurrencies as well. In Q3 2021, the company reported a 14 per cent year-over-year increase in its average daily volume (ADV) at 17.8 million contracts. Crypto investors are keeping close eyes on CME Group Inc. (NASDAQ:CME) as it is considered to be one of the best cryptocurrency stocks to buy.
Advanced Micro Devices, Inc. (NASDAQ:AMD) stands fifth on the list of the top 10 best cryptocurrency stocks to buy in November 2021. The company makes CPUs and GPUs which are used for bitcoin mining. In June, Advanced Micro Devices, Inc. (NASDAQ:AMD) underperformed as China sharpened its crackdown on crypto mining. However, the stock gained 26.14 per cent in 2021 and 41.99 per cent in the past year.
NVIDIA Corporation (NASDAQ:NVDA) reported solid earnings in Q2, with a record gaming revenue of $3.06 billion, up 85 per cent from the prior-year quarter. The company posted an EPS of $1.04, beating the estimates by $0.02. NVIDIA Corporation (NASDAQ:NVDA) is definitely one of the best cryptocurrency stocks to buy this November.
Earlier this year, Square, Inc. (NYSE:SQ) announced that it plans to develop bitcoin mining hardware as the company witnessed a surge in cryptocurrencies. Square, Inc. (NYSE:SQ) is a financial services and digital payments company that every cryptocurrency investor should consider investing in.
PayPal Holdings, Inc. (NASDAQ:PYPL) is a financial services company that facilitates online money transfers and has recently enabled users to purchase and hold cryptocurrencies within a digital wallet. PayPal's Venmo digital wallet and peer-to-peer payments app, which unlocked crypto trading in early 2021.
The Canada-based company, Hut 8 Mining commands a sizable minority stake on the overall Bitcoin network, and it generates very strong cash flows compared to revenue. Instead of selling Bitcoins, it mines on the market Hut 8 Mining maximizes returns for shareholders by lending them out and farming yields, leading to compounded returns. Furthermore, investors can be assured that the company won't be embroiled in environmental concerns regarding the practice. Hut 8 Mining uses a mix of wind, solar, and natural gas sources for its electricity with decade-long leases, ensuring the sustainability of its operations.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.