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Cryptocurrencies have become one of the hottest areas of financial investment. More and more traders and business institutions are adopting cryptocurrencies as legal modes of payments or conducting authorized transactions. Markets for digital currencies like Bitcoin were unheard of back in 2010 or 2012 but, with its rising popularity, the current global crypto market cap stands at more than US$2 trillion and is constantly rising every day. This sudden surge in value and rapid evolution of the market has created immense wealth for early crypto investors. This growth has led to the emergence of several crypto businesses, and now investors are keeping a close eye on the different crypto stocks for investment. The best crypto stocks yield the most profits and create a direct way of investment in the industry without trading in a particular coin or token. In this article, we have listed the top 10 crypto stocks that will yield the most profits in 2022.
Market cap: US$77.061 billion
Block was earlier known as the Square Inc. The company renamed itself to better reflect the company's new focus on blockchain technology. Block's business includes Square, which helps enterprises accept quick and secure payments through Cash App, a mobile service payment that allows transferring money efficiently. Investing in this crypto stock will help investors put their money on a company whose executives are focused on strengthening the global crypto infrastructure.
Market cap: US$63.733 billion
Coinbase Global is a cryptocurrency exchange where users can buy, sell, and store their cryptocurrencies on its platform. The company's mission is to increase participation in the crypto economy as the number of verified users on the platform is increasing rapidly. Coinbase puts a portion of its profits towards adding more assets and products to its exchange to attract more users.
Market cap: US$218.772 billion
PayPal Holdings is a payments company that facilitates cross-border electronic transactions at low fees. The services offered by the firm are used by millions of users around the globe. Earlier this year PayPal allowed the use of Bitcoin and three other cryptocurrencies for purchases made through its platform. In late May 2021, the company announced that it was planning to allow third-party wallet transfers of Bitcoin as well.
Market cap: US$936.543 billion
Tesla is an electronic vehicle manufacturer that has always been a staunch supporter of digital currencies and started accepting them as payments in early 2021. Earlier, Tesla suspended the acceptance of Bitcoin as payment due to the severe environmental concerns surrounding its mining but has recently announced that the company will resume Bitcoin payments for vehicle sales, given the miners use at least 50% clean energy for their operations.
Market cap: US$166.348 billion
AMD is a semiconductor chip manufacturing company whose products are used to mine digital currencies. The shortage of chips in the industry due to the increased demand and supply chain issues has taken the company's share to new heights in recent weeks. The shortage is expected to last for several months, which will allow the stock to have plenty of room to grow. As mining increases, the company's sales revenues will continue to increase.
Market cap: US$2.709 billion
Riot Blockchain is a Bitcoin mining company that engages in industrial-scale mining of BTC, employing over 7,000 miners for the purpose. It operates in North America and is among the top crypto stocks that have returned more than 1,406% to investors in the past year.
Market cap: US$3.478 billion
Marathon Digital is another Bitcoin mining company in North America. Marathon has a mining fleet of 31,000 active miners and has about 7,649 Bitcoins with a market value of about US$400 million. The company's growth has been driven through the investments by miners to increase the hash rate or the speed of mining, to make BTC production more efficient and profitable.
Market cap: US$692.801 billion
Investors who are looking for a long-time play on the blockchain should consider Nvidia Corp. It is a GPU and chips manufacturing company that concentrates on the development of computer and mobile hardware. The powerful chipsets marketed by the company are used in mining operations around the world. Nvidia has created GPUs and processors specifically for crypto mining that has accelerated the company's popularity in the blockchain and crypto industry.
Market cap: US$80.786 billion
CME Group is a financial derivatives exchange that offers trades related to cryptocurrencies. As one of the largest exchanges in the world, it is a safe bet of income for investors. In Q3 2021, the company reported a 14% increase in its daily average volume at 17.8 million contracts, indicating a massive growth potential for the future.
Market cap: US$6.315 billion
MicroStrategy is a data analytics firm that is giving increasing allocation to Bitcoin on its balance sheet. MSTR has gained the popularity of being the BTC proxy, and is one of the best contenders among the top stocks. Since the beginning of the year, MSTR has rallied up to 60%, and the stock value tends to increase whenever the company buys more Bitcoins.
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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.
