FinancialCentre reports- Four crypto stocks that can be of a good investment for the coming month of January 2022


London, UK, 5th Feb 2022, Binary News Network, Cryptocurrencies are one of the more recent innovations in modern finance. The first, Bitcoin, was created by an anonymous programmer who goes only by the name of Satoshi Nakamoto. It is not known if he exists or there is a group of people working under that name. Bitcoins are produced using “mining”, which consists of running SHA256 double rounds on a series of numbers. For each number run through the hashing algorithm, 50 bitcoins are awarded to whichever miner happens to be running the hashing operation when that hash is found.

FinancialCentre Broker David Horsley told us that the hashing process is very compute-intensive and has been shown to be able to run at over 700 Terra Hashes/s on commodity hardware. Bitcoins are transferred between accounts via public key encryption. The sender generates a random number, hashes it with the intended recipient’s public key to create a short digital signature, and attaches it to some amount of bitcoins. The recipient uses their private key to decrypt the signature and get the original number, verifying that the sender had access to the private key.

Since it is computationally intractable to derive a person’s private key from their public key, this offers effective non-repudiation. This means that if you send someone bitcoins, you cannot later claim that the transaction was unauthorised and demand it back. This, combined with decentralised and pseudonymous issuance of currency, make Bitcoin a favourite for users seeking to evade law enforcement.

Source of income

Horsley says that today, crypto is serving as a source of income for many people after the internet bubble popped. Many of these people have been marginalised from current financial systems, and crypto has been a way for them to have access to money. This is especially true in developing countries that are seeing increased inflation or want a more stable store of value. In addition, other users seek anonymity through cryptocurrencies because their governments may prohibit the use of other currencies in their country.

Many people are also trying their luck by buying stocks of companies that are associated with crypto in one way or the other. Such stocks are called crypto stocks, and today we will talk about some crypto stocks that can be a good investment for the coming month. Mr Horsley says all of these have massive growth potential.

Stocks

1- Riot blockchain:

This is a US-based company and was known as bioptix until last year when it changed its name to Riot blockchain and started to focus on cryptocurrencies. The company focuses on Bitcoin mining, but in addition to that, it also runs master nodes in order to accumulate more cryptos for future use. It also invests in other companies that are associated with cryptocurrencies and blockchain. This company has outperformed the market, and therefore, it serves as a good investment choice for crypto investors looking to make a lot of profits in a short time.

2- HIVE:

This is another US-based company that offers mining services around the world through its many data centres. The company has expanded its operations in a very short time, and that is why it serves as a good crypto stock for investors looking to invest their money into a company that will grow over a short period of time. They also focus on cryptocurrency transactions and use blockchain technology in order to ensure that all transactions are secure. It is a company that has been growing rapidly and is therefore worth the investment.

3- Overstock:

This is a company in the US that focuses on e-commerce, but in addition to that, it also provides blockchain technology. The company has been expanding over the years and, therefore, serves as a good investment choice for investors looking to invest their money into a reliable crypto stock. The company is listed under the OSTK ticker, and it has outperformed the market in many ways. The company is also committed to making sure that blockchain technology is used for all e-commerce transactions and, therefore, is likely to expand even more over the coming months due to its dedication towards achieving this goal.

4- Digitalx:

This is a company in Australia and was established as Air Pocket before it changed its name to Digital x. The company offers blockchain technology and focuses on cryptocurrency mining. This company has been growing over the past few years and, therefore, serves as a good investment choice for investors looking to invest their money into a reliable crypto stock that will grow in the future.

The above-mentioned companies represent some of the best crypto stocks worth investing in. With the growth in digital currency and blockchain, these stocks will continue to do well and therefore; they serve as a good investment choice for investors with a lot of money to invest in cryptos.

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.