Bitcoin and other cryptocurrencies are here to stay. Despite some high-profile critics, like Warren Buffett, bitcoin is still trading near $10,000.
At its peak, bitcoin was trading near $20,000. It survived a significant run against cryptocurrencies and proved it has staying power. Now, many industry experts see cryptocurrencies as an alternative to gold and stocks.
With the current price, the good news is that investors can make a handsome return. Read on to learn about the top bitcoin stocks to invest in. Explore this comprehensive guide to the biggest names in cryptocurrency and whether you should invest in them.
Before diving into the top cryptocurrency stocks, it is important to define blockchain technology. Bitcoin and other cryptocurrencies are simply a digital store of value. The purpose behind bitcoin was to eliminate third-party intermediates and simply online transactions.
Blockchain is the technology that allows for safe online transactions with bitcoin. Simply put, blockchain is a ledger that records all bitcoin transactions.
The database is open to the public, but transactions are anonymous. Digital bitcoin miners validate the legitimacy of each online transaction. Many major companies are entering the bitcoin space by launching blockchain technology initiatives.
Bitcoin was such a revolutionary idea that many other cryptocurrencies were released. Read on to learn about these different stocks.
LTC shares are on quite the hot streak since the first of December. At that time, LTC’s valuation per share was just $41. In just a few months, LTC has surged to nearly $79 per share.
Litecoin is a digital store of value just like bitcoin. Many experts consider Litecoin as the silver to bitcoin’s gold.
Some insiders prefer Litecoin over bitcoin because it has a faster block generation rate. This means an online transaction made with Litecoin is processed faster.
Some investors feel like the cryptocurrency wave came and left without them. Perhaps this is true for some cryptocurrencies, but Libra gives you a chance to get in at the ground level.
Libra is being developed by social media giant Facebook. Considering Facebook’s global reach, Libra is very enticing to investors. This digital currency is expected to be released sometime in 2020.
Volatility is one reason that investors shy away from investing in cryptocurrencies. USDT attempts to reduce this risk by pegging its value to more traditional currency.
For this reason, experts have labeled Tether as a “stable coin.” USDT is a blockchain-enabled digital currency and currently has the 4th largest market capitalization amongst all cryptocurrencies.
ETH has the second-largest market capitalization after bitcoin. Like bitcoin, ETH has survived the storm against cryptocurrencies and is trading near its one-year high.
Ethereum is a decentralized software program. It prevents third parties from interfering with their applications. Ethereum also promises that its applications will run without the downtime and cuts down on fraud. Ethereum’s software applications run on ether, its digital currency.
A Recap of the Top Bitcoin Stocks
Bitcoin revolutionized Wall Street and opened a whole new cryptocurrency segment for investors to profit from. Bitcoin is the most well-known and has the largest market cap. However, others like Ethereum and Tether are great options that also use blockchain technology.
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