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3 Best Cryptocurrency Stocks to Buy in February 2022
On January 22, 2022, the world’s most popular cryptocurrency fell below US$36,000 for the first time. Ethereum (ETH), the second most popular cryptocurrency behind Bitcoin (BTC), plummeted to a six-month low on the same trading day. Financial experts advise potential investors to be wary of additional hazards while investing in the cryptocurrency market this year.
The world’s most popular cryptocurrency dipped below US$36,000 for the first time on January 22, 2022. On the same trading day, Ethereum (ETH), the second most popular cryptocurrency behind Bitcoin (BTC), fell to a six-month low. Potential investors are advised by financial experts to be careful of new risks while investing in the cryptocurrency market this year.
Canadians, on the other hand, still have other ways to obtain exposure to the bitcoin market in February 2022. Hut 8 Mining (TSX:HUT)(NASDAQ:HUT), HIVE Blockchain Technologies (TSXV:HIVE)(NASDAQ:HVBT), and Galaxy Digital Holdings (TSX:GLXY) are examples of crypto stocks with potential for growth.
HUT 8 has a three-year total return of 245.41 percent (50.94 percent CAGR), whereas HIVE has a three-year total return of 502.63 percent (81.58 percent CAGR). Meanwhile, Galaxy beat both with a three-year return of 850.60 percent (111.26 percent).
