Lately, Blockchain stocks have been gaining significant recognition in the stock market. A good number of publicly traded companies are beginning to adopt the technology. While some are capitalizing on the trend by supporting the technology, others are making use of the blockchain to supplement their existing businesses.
Let us look at some blockchain stocks that can generate big returns as companies adopt blockchain technology.
1. NVIDIA CORP (NVDA):
Nvidia (NVDA) is the leading manufacturer of graphics processing units (GPUs), closely affiliated with brands such as Quadro, GeForce, and Tesla. GPUs are important components in enhancing key technological areas such as artificial intelligence, autonomous vehicles, and gaming.
Also, GPUs are essential hardware components of cryptocurrency mining. “Miners” adopt specialized GPUs to process transactions on the blockchain and they are rewarded with newly minted digital coins. In recent times the sales of Nvidia’s crypto-targeted CMP chips have reduced by a little margin, but they still generate a quarterly revenue of more than $100 million for the company.
2. COINBASE GLOBAL INC.:
Coinbase (NASDAQ: COIN) is the largest cryptocurrency exchange platform in the World, the platform has provided its users with a variety of over 100 different digital assets made available for trading. The company boasts of an estimated 73 million verified users in more than 100 countries around the world, and there is an annual cryptocurrency trading volume of $1 trillion flowing through the platform.
One of the positives about Coinbase is that as the technology grows it will be worth investing in regardless of which cryptocurrency finally hits the expected price range.
The platform also operates as a securely hosted bitcoin wallet to purchase and make use of bitcoin. Which enables companies to accept payments in bitcoin. The company was founded in 2012 by Brian Armstrong and its headquarter is located in San Francisco, CA.
3. CME GROUP:
CME Group (NASDAQ; CME) is the largest futures and options exchange in the world, giving investors and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, metals, and commodities. It is the only exchange that creates a market for cryptocurrency futures contracts. It was founded in 1898.
With the increasing interest in cryptocurrency, the company stands to see a revenue rise, as it gets a small fee for every transaction made on its exchanges.
4. INTERNATIONAL BUSINESS MACHINES CORP:
IBM was founded in 1911 by Thomas J. Watson Sr., It is a leading information, computing, and technology services company. In the area of blockchain, IBM Blockchain has already provided transformative solutions for its clients and is seeking to do more. If Blockchain-based solutions gain more attraction in the future, the company could experience major growth.
The headquarters of IBM is located in Armonk, New York.
5. BLOCK:
Block is a fintech company that provides payment acquiring services to merchants, along with related services. The company has two major components to its business. A payment-processing ecosystem for small businesses and the Cash App financial platform.
Block operates as a blockchain stock in two major ways. Its Cash App allows users to buy and sell bitcoin quickly and easily. The company reported $1.8 billion purchased in Bitcoin in the third quarter of 2021 alone, this is a significant part of the company’s business. Also, the company has a team of bitcoin developers who are on several exciting projects. The company was formerly known as Square and its new name is an indication of its shift in focus toward blockchain technology.
HOW TO BUY ANY OF THE ABOVE STOCKS.
- Select an online stockbroker that fits you.
- Open a brokerage account. Complete the application with the necessary details.
- Research the stock you want to buy.
- Decide how many shares of that stock you’d love to purchase.
- Choose your stock order type.
- Optimize your portfolio.
Sources; www.fool.com/ ,money.usnews.com/, stockmarket.com, finder.com
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