3 Top Canadian Cryptocurrency Stocks to Buy in November

Cryptocurrency stocks continue to surge, but these three offer access to each area of cryptocurrency, while still remaining a diversified investment.

| More on:
sad concerned deep in thought

Image source: Getty Images

Cryptocurrency stocks have been all the rage lately, and it’s clear why. Some Motley Fool investors may have made millions by investing in the right company. But just because you didn’t get in on the ground floor doesn’t mean you should ignore these stocks altogether.

In fact, there are at least three top Canadian cryptocurrency stocks I would consider buying in November. Not only have they been on a tear, but it’s also likely they’ll continue to see major boosts in the short-term as cryptocurrency use grows. Furthermore, they remain solid long-term holds for as long as cryptocurrency is around.

So let’s dig right in.

Voyager stock

For investors who are looking for a close-to-the-ground-floor company, Voyager Digital (TSX:VOYG) is a solid option. The cryptocurrency stock has been expanding, creating several new revenue streams for Motley Fool investors to consider. The cryptocurrency trading application acquired Coinify back in August and recently added its Voyager token to the database. Furthermore, Voyager stock recently surpassed one million funded accounts on the platform. This is an increase 23 times larger than where it was back on Dec. 31, 2020.

Shares have grown at a fast rate with the rise of cryptocurrency. Voyager stock is up 360% year to date as of writing, but still a ways off from 52-week highs and even analyst potential upsides. You can also pick up Voyager stock at about $23 as of writing, making it a fairly cheap stock among cryptocurrency stocks.

Galaxy Digital

Another of the cryptocurrency stocks I’d consider would have to be Galaxy Digital Holdings (TSX:GLXY). This is like buying an exchange-traded fund (ETF) but with the benefit of actually being active in cryptocurrency. Galaxy stock has the ETF you want, especially as the United States approved the use of cryptocurrency ETFs by the Securities and Exchanges Commission (SEC).

However, Galaxy stock also mines for cryptocurrency, provides funding as an asset manager, and in the blockchain technology sector. Really, it has its hand in practically everything. It remains a stable investment for those seeking exposure to cryptocurrency stocks, but at a lower share price.

Shares of Galaxy stock are up 310% year to date, with more growth likely as cryptocurrency stocks continue to thrive.

HIVE stock

Finally, if a Motley Fool investor wants to feel like they’re in the gold rush of the 19th century, the closest you can get is with HIVE Blockchain Technologies (TSXV:HIVE)(NASDAQ:HVBT). HIVE stock has been on a tear as a blockchain miner, operating in Canada, Sweden, and Iceland. On October 4, the company announced a 466% increase in gross revenue over the year before. It’s bolstered its Ethereum and Bitcoin mining capacity and continues to invest in its product to bring in as much as possible.

Shares of HIVE stock are up 67% year to date, though still off from 52-week highs when Bitcoin boomed over the summer. Still, it’s a strong company with years of mining experience (though in actual gold before), and the funds available to expand operations.

Foolish takeaway

If you’re a Motley Fool investor bullish about the future of cryptocurrency stocks, these three are prime options. You get access to a digital platform, a cryptocurrency ETF, and the mining of cryptocurrency. Especially if you’re not wanting to dig into one digital currency in particular, this is an excellent way to stay on the diversified side of cryptocurrency stocks.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

More on Tech Stocks