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Cryptocurrencies and crypto stocks have shown how much growth potential they have, which is why they are still some of the top stocks to buy in this market environment.
They are, of course, volatile, which makes them considerably risky. However, it also gives them have huge upside potential, plus, you can mitigate the risk by investing for the long term.
With high-potential assets like these, though, it can be easy to get caught up in all the excitement.
So, you need to ensure that you are investing in assets that have the potential to grow long term, whether that be a stock or actual cryptocurrency.
It’s very difficult for anyone to tell how an asset’s price may move in the short term. So, all we can do are find businesses or cryptocurrencies that we believe are attractive and have the potential to continue growing well into the future. These are these assets that will be worth the investment.
With thousands of cryptocurrencies in existence, though, there will inevitably be ones that have potential and others that don’t.
This is why it’s crucial to look for the ones with the best technology or the most use cases first, rather than those that have been rallying or falling in price.
Another option you could consider is buying high-quality growth stocks that operate in the industry. Cryptocurrency can be complicated. So, owning a company that lets professionals make the decisions for you could be the best way to gain exposure.
If that seems like something you might be interested in, here are two of the top crypto stocks to buy now.
A top crypto mining stock to buy today
There are several high-quality mining stocks that offer significant growth potential. However, HIVE Blockchain Technologies (TSXV:HIVE) is in a league of its own.
The company offers exposure to a high-quality portfolio of diversified mining operations. It not only mines Bitcoin but also other highly popular and high-potential cryptocurrencies such as Ether.
In addition, the company holds much of the digital currencies it mines, offering investors even more exposure to the performance of these high-potential assets.
The cryptocurrency industry has lost some momentum lately, which is why most investors might not consider investing today. However, that’s exactly why you should buy this top crypto stock today.
These stocks are trading extremely cheap and offer significant growth potential. Plus, while the price of many cryptocurrencies in the industry hasn’t progressed lately, the same can’t be said for HIVE.
The company continues to improve its production capabilities and add green energy capacity to power that production.
So, in addition to being down significantly from its 52-week high, HIVE is also in the best position it’s ever been, making it one of the best crypto stocks to buy now.
A top Canadian financial stock
While HIVE may be the best stock to buy if you want a crypto miner, for me, Galaxy Digital Holdings (TSX:GLXY) is the outright leader of the sector.
Galaxy Digital is an intriguing financial services stock that offers investors unmatched exposure to the cryptocurrency sector, making it one of the top crypto stocks to buy today.
Not only will you benefit from the price of cryptocurrencies rising as you would with HIVE, but Galaxy Digital’s numerous businesses also offer a tonne of advantages, too.
Through its asset management, prime brokerage services, and trading segment, the stock stands to benefit as long as the industry is growing, which, if you’re bullish on crypto, you have to believe.
Blockchain technology is revolutionary, and as it gets more popular Galaxy Digital stands to gain significantly. That’s not all, though. The company also has its own mining operations and a segment dedicated to investing in new up-and-coming technology.
Galaxy Digital really has all bases covered, offering a unique and holistic way to gain exposure to the high-potential cryptocurrency industry.
That’s why if you’re looking for a top crypto stock to buy today, Galaxy Digital is my top recommendation.
Our team of diligent analysts at Motley Fool Stock Advisor Canada has identified one little-known public company founded right here in Canada that’s at the cutting-edge of the space industry and recently completed a transformational acquisition, all while making a handsome profit in the process!
The best part is that in a market where many stocks are selling at all-time-highs, this stock is trading at what looks like a VERY reasonable valuation… for now.
Fool contributor Daniel Da Costa owns shares of Galaxy Digital Holdings Ltd. The Motley Fool has no position in any of the stocks mentioned.