The 7 Best Blockchain Stocks to Buy Now

The 7 Best Blockchain Stocks to Buy Now
The 7 Best Blockchain Stocks to Buy Now

I am a big proponent of cryptocurrency and blockchain. I really think that’s the future of finance, especially when you look at some of the more exciting applications like DeFi. Use cases in the cryptosphere continue to grow, pointing to healthy upside going forward. Therefore, it makes sense for investors who believe in the future of the crypto world to pick up the best blockchain stocks.

Cryptocurrencies are still in a price discovery phase, so significant volatility is expected. But with wider use and limited supply, Bitcoin (BTC-USD) is likely to gain enormously going forward, despite the recent correction. Furthermore, the recent correction in the market has resulted in significant losses for many crypto stocks. Nevertheless, the current situation presents an excellent opportunity to acquire some quality crypto stocks, which offer great long-term value.

With that in mind, consider picking up shares of these seven best blockchain stocks.

TSM Taiwan Semiconductor $88.01
PYPL PayPal $96.80
MARA Digital Marathon $13.39
V Visa $212.59
RIOT Riot Blockchain $8.13
COIN Coin base $89.34
SAY Silvergate Capital $101.68

Best Blockchain Stocks: Taiwan Semiconductor (TSM)

picture of TSM semiconductor office building

Source: Diverse Photography / Shutterstock.com

Taiwan Semiconductor (SNEEZE:TSM) is a secondary blockchain game that is the world’s leading contract token producer. Cryptominers rely on TSMC and its peers to manufacture application-specific integrated circuit (ASIC) chips. In accordance Brand market researchthe crypto mining market is likely to grow at a robust 28.5% compound annual growth rate (CAGR) and reach $5293.9 million by the end of 2028. Hence, there is a massive upside for those looking at an indirect play on blockchain investment.

With the huge growth in demand from Bitcoin miners and other segments, TSMC announced that it is spending more than $100 billion over the next three years to increase capacity. Moreover, the business continues to fire on all cylinders, with double-digit top-line growth in recent quarters. Therefore, it remains a fascinating play in the blockchain space that cannot be ignored at this point.

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PayPal (PYPL)

PayPal logo and the front of the headquarters

Fintech giant PayPal (NASDAQ:PYPL) offers a centralized platform for those who wish to hold cryptocurrencies. It was perhaps the first mover in its niche to green light Bitcoin transactions back in 2014. Now users can hold other cryptos including Litecoin (LTC-USD) and Ethereum (ETH-USD). Also, it recently announced that users could effectively move their coins to other exchanges and wallets. It is also exploring the launch of its stablecoin, which will be pegged to the US dollar.

Therefore, it is clear that PYPL fully embraces blockchain technology and can play a significant role in its long-term growth. The business has been remarkably consistent, growing sales at an incredible pace over the past decade. With the transition to other profitable verticals, it is likely to usher in the next phase of growth.

Best Blockchain Stocks: Marathon Digital (MARA)

Macro view of miner working for bitcoin mining pool.  Cryptocurrency mining devices and technology.  Mining cryptocurrency concept.  MARA stock.  Crypto mining.

Source: Yev_1234 / Shutterstock

Digital Marathon (NASDAQ:MARA) is a Bitcoin mining specialist who has taken a beating in line with the price of Bitcoin. Risky assets such as cryptocurrencies have fallen during the current market downturn, with stocks such as MARA in a difficult spot. Nevertheless, it has enough liquidity to weather the storm and navigate the macroeconomic challenges effectively.

The most important concern going forward for companies like MARA is sustainable source power. Maintenance issues at fossil fuel power stations have proven crippling for crypto mining companies. Texas-based company Calculate north, one of Marathon’s host partners, is building green infrastructure to power 100,000 miners. The move should allow MARA to effectively protect itself against maintenance failures in the future.

Visa (V)

several Visa-branded credit cards

Source: Kikinunchi / Shutterstock.com

San Francisco-based payment processor Visa (SNEEZE:V) have made massive inroads into crypto over the past couple of years. It works with more than 60 crypto platforms that offer crypto credit cards from major players, including BlockFi, FTX and Coinbase. Also, more than 80 million merchants accept Visa payments using crypto, as they can be converted to fiat currency.

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Visa will make it easier for consumers to buy and cash out crypto with Visa cards, add new infrastructure, support the new non-fungible token (NFT) economy, and drive research. Furthermore, banking institutions are keen to retain consumers with crypto services.

In addition, Visa facilitates a platform for stablecoin payments linked to US dollars. The firm effectively strengthens relationships between seller and customers through additional payment options through this initiative. Therefore, it has clearly embraced decentralized payments as the next growth area for the business.

Best Blockchain Stocks: Riot Blockchain (RIOT)

futuristic image of a hand with the words blockchain floating above it.  which represents riot blockchain shares

Source: Shutterstock

Riot Blockchain (NASDAQ:RIOT) is a pure Bitcoin miner that has seen a huge price increase in the last couple of years. Bitcoin prices surged during the pandemic, driving RIOT’s share price to a whopping $78 last February. It trades at a fraction of that price and remains an excellent bet for those with a bullish view of Bitcoin.

After May, it deployed approximately 43,458 mining rigs at an impressive rate of 4.6 exahashes per second (EH/s). The goal is to take that number to 120,150 miners by January next year at 12.8 EH/s. This represents a tripling of the scope by 2023.

Despite the poor market situation, the company’s revenue during the first quarter came in at a whopping $79.8 million, an increase of 244% year-on-year. Of this total, the mining business received a hefty 150% from the first quarter of 2021.

Coin base (COIN)

Coinbase and NYSE flags blowing in the wind.

Source: rarrarorro / Shutterstock.com

Coinbase’s (NASDAQ:COIN) business declined in the last couple of quarters, which is why the stock is trading at a depressed valuation. In the first quarter of 2022, it derived most of its sales from transaction fees. With the drop in trading volume, the entire market has crashed and so has the interest in crypto. This essentially means that there is less activity on the platform, which resulted in a 27% decrease in sales.

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Still, when the market picks up again, it’s not hard to see how Coinbase will benefit. In a bullish market last year, it generated triple-digit growth in sales and profits. Additionally, aside from being an exchange and brokerage, CEO Brian Armstrong aims to develop a robust utility-dominated crypto-economy. Its investment arm, Coinbase Ventures, has made a truckload of investments in various crypto businesses around the world. Therefore, Coinbase has a huge stake in the crypto game and should see its values ​​rise again.

Silvergate Capital (SAY)

An image of a hand holding a mobile phone with multiple visualizations of digital building blocks floating over it.  which represent standing platforms

Source: Marko Aliaksandr/ShutterStock.com

Silvergate Capital (SNEEZE:SAY) is a crypto bank that operates its own trading network called the Silvergate Exchange Network (SEN). The network facilitates the flow of money for crypto exchanges and financial institutions. It is an FDIC-insured institution, the only regulated firm in the cryptosphere. The status allows it to obtain zero-cost financing from various institutions and introduced a lending product called SEN leverage.

The firm’s innovative business model has significantly increased revenue growth over the past year. Year-over-year revenue growth is nearly 98%, which is a staggering number in today’s business environment. It will likely benefit from higher interest rates, which should have an incredible impact on the top and bottom lines.

At the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publishing Guidelines.

Muslim Farooque is an avid investor and an optimist at heart. A lifelong gamer and technology enthusiast, he has a special interest in analyzing technology stocks. Muslim holds a bachelor’s degree in applied accounting from Oxford Brookes University.

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