There are a variety of potential benefits to owning/investing in stocks just as there are to invest in cryptocurrencies. Long-term growth potential is often the biggest draw for many investors, as stocks typically tend to grow faster than the rate of inflation. Investing in something with a fairly reliable return like a traditional IRA (or RRSP in Canada) for retirement is one of the most common potential benefits of investing in stocks.
Dividends are another attraction and can be thought of as wagering premiums, except that they are based on the company’s performance rather than a guarantee to help secure the network. As with staking crypto assets, not all stock options pay dividends.
Nowadays it is also very easy to buy and sell stocks, making them a very liquid form of investment. The rise of investment apps has made it extremely easy to buy and sell a stock with just a few clicks.
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Our favorite platforms to buy Coinbase shares
There are several ways to buy Coinbase stock, but these are some of our favorite methods, which are also companies that also have some form of crypto exposure:
Wealthsimple
Wealthsimple was launched in late 2014, and the financial technology company focuses primarily on providing ways for users to easily access and manage investments via automated asset systems. While the company is based in Toronto, Canada, this platform is also available to citizens of the United States and the United Kingdom. Users are able to buy and sell shares through a variety of exchanges in a personal or TFSA account and can also buy and sell digital assets supported in their crypto account.
Robinhood
Robinhood is an investment platform that allows users to enjoy commission-free trading from the comfort of their mobile devices. They mainly focus on allowing their clients to invest in the traditional stock market, but Robinhood also added a crypto section of their platform during the huge cryptocurrency bubble of 2017. Robinhood is only available to American citizens and you can also get a debit card for your account to spend your profits/holdings.
SoFi
SoFi stands for Social Finance. It is a personal finance company based in San Francisco and was originally founded way back in 2011. SoFi provides a variety of financial services such as investments, banking, and personal loans, and is constantly adding new products to drive user adoption. They have had tremendous growth since the pandemic and now offer cryptocurrencies in addition to traditional finance.
Cash App
Cash App started as nothing more than a way for users to send payments to each other, but it has become much more than that. Now Cash App is basically a full-service banking option, as users are able to get a debit card linked to their Cash App account, receive ACH transfers and direct deposits, and even invest in the traditional stock market while being able to buy and sell Bitcoin.
Revolut
Revolut is a financial app that started in the UK, but has since expanded to all countries in the European Economic Area (EEA) along with the US, Canada, and Japan, to name a few others. With Revolut, you can spend in 150 different fiat currencies with no international withdrawal fees. It is an FDIC insured company and offers savings vaults along with the ability to buy stocks and cryptocurrencies. They also offer disposable virtual cards for online shopping.
How to Buy Coinbase Stock
Buying shares using the above platforms is a relatively simple process that generally works like this:
- Create an account on any platform that allows you to trade on the NASDAQ, all those listed on this page allow you for example.
- Fund your account in the way that works best for you.
- Find COIN on the platform.
- Choose how much you want to buy and at what price, you can probably choose to buy at the market price or set a limit that you are willing to pay.
- Wait for your order to be processed.
- done! Once your order has been filled, you own COIN and can sell it whenever you want.
Negative aspects of actions
The downsides of
investing in stocks are quite similar to the downsides of investing in crypto assets and tokens.
There is a general risk of investing in anything, as you can choose the wrong asset and lose money very easily. There is little risk of being scammed as you could in crypto, since with centralized finance you have little chance of getting a carpet, if any.
Other options on crypto-centric stocks
Do you want to invest in a stock that has crypto exposure but is not fascinated by Coinbase?
There are actually a number of stocks that benefit heavily from positive movements in crypto. Here’s a small example:
MicroStrategy (MSTR)
Famously led by cryptographic bull Michael Saylor, MicroStrategy is a manufacturer of analytics and mobility software. They design, develop, market and sell software platforms through cloud-based licenses and subscriptions. The company currently owns 121,044 Bitcoins.
Voyager Digital Limited (VOYG)
The company has focused on providing a fully functional suite of APIs and mobile apps to allow anyone to buy, sell, trade, invest or earn with their digital assets. The brokerage has its own cryptographic token called Voyager Token (VGX) which is used to reward users with higher interest rates, cashback offers, and other exclusive services.
Hive Blockchain Technologies (HIVE)
Based in Vancouver, Canada, HIVE focuses on connecting the traditional and blockchain industries. They use 100% green energy to mine both Bitcoin and Ethereum and aim to generate long-term value for shareholders through hodling. With operations in Canada, Sweden, and Iceland, HIVE is well positioned to grow as blockchain becomes more widely adopted.
