As the cryptocurrency industry continues to gain popularity, now is the time to consider whether crypto fits into your portfolio. There’s no telling when these top crypto stocks could see another significant rally, so if you are going to invest in crypto stocks, it’s crucial to buy them while they are still cheap.
The industry is not for everyone, though. It requires a tonne of patience and a commitment to the long run in order to stomach the considerable short-term volatility.
Many investors won’t want to go through the hassle of buying cryptocurrencies themselves. Luckily, though, there are several cryptocurrency stocks to consider.
So, if you’ve decided to gain exposure to cryptocurrencies and you want to utilize the stock market, here are three of the top Canadian crypto stocks that you can buy for under $30 a share.
Cryptocurrency mining stocks have been some of the top performers
If you’ve been paying attention to the performance of cryptocurrency stocks over the last few years, you would know that some of the best growth potential lies with crypto mining stocks such as Hut 8 Mining (TSX:HUT)(NASDAQ:HUT). Crypto mining stocks are extremely volatile, though.
They tend to follow the price of the coins they mine almost perfectly but have even more volatile swings in price. So, if you thought cryptocurrencies were already volatile, crypto mining stocks take volatility to another level.
This can be negative when cryptocurrency prices are falling if you aren’t committed to these investments for the long run. However, if you can commit to buying these stocks for the long haul, then dips in the price like we’re seeing today are the best opportunities to buy these top crypto stocks.
Right now, Hut 8’s stock price is just $9.75, more than 50% below its 52-week high. So, if you’re looking for a top crypto stock to buy while it’s cheap, and before the industry starts to rally again, Hut 8 offers some of the best growth potential.
Crypto platforms have a tonne of potential to be some of the best growth stocks in 2022
In addition to mining stocks, another top crypto stock to buy for 2022 is a company like Voyager Digital (TSX:VOYG). As the industry continues to gain in popularity, some of the businesses that will see the most positive impacts are cryptocurrency platforms and exchanges.
As more investors look to gain exposure to cryptocurrencies, these platforms will understandably see a significant uptick in business.
In addition, it’s not just investors looking to trade cryptocurrencies. Investors are consistently looking for more ways to earn a yield on these high-potential assets. Voyager’s platform allows investors to earn a yield on more than 30 of the most popular cryptocurrencies.
So, should the crypto industry continue to gain popularity in 2022, which is a strong possibility, Voyager will be one of the top crypto stocks to buy.
Galaxy might be the top crypto stock to buy for 2022
Galaxy Digital (TSX:GLXY) is a financial services stock that serves the crypto industry. The company has several high-potential segments, which is why in my view, it’s the top crypto stock to buy.
Galaxy has exposure to the growth in popularity of the industry from retail investors, but also institutions and high net worth individuals. It also offers investment banking advice to cryptocurrency companies and special financing for crypto miners which may have trouble getting financing from traditional banks.
It even has a principal investments division that invests in high-potential, early-stage blockchain companies and projects. This includes exposure to several NFT projects.
So, Galaxy is a crypto stock that offers both high-quality and diversified operations but also a tonne of growth potential, which is why it’s easily one of the top crypto stocks to buy now.
There are several crypto stocks to choose from and each day, more and more companies and funds are being listed on markets.
So, while prices are cheap and the industry is struggling, it’s an excellent opportunity to buy these crypto stocks ahead of 2022, because the blockchain industry is not going away anytime soon.