If you’re a Canadian investor and interested in Bitcoin, it quite a problem given that Bitcoin currently trades at around $66, 600 as of writing. That means, even when one has a Tax-Free Savings account (TFSA), they can only deposit one solitary Bitcoin. But let us look at the bigger picture of cryptocurrency.
Canadian investors who let say, don’t have the $66. 600 in their account, they can still get some cryptocurrency action. There other ways to invest in Bitcoin and cryptocurrency through the purchase of shares that can cost $10 per share. Below are the ways Canadian can invests in cryptocurrency.
In Canada, there exist exchange-traded funds (ETF) that focus on Bitcoin. Purpose Bitcoin ETF (TSX: BTCC.B) was the first of its kind and invest in Bitcoin using investors’ share. An investor only invests a fraction of the price.
Currently, Purpose ETF holds about $1.2 billion worth of Bitcoin. The shares have gone up by 13 percent since the ETF was launched this year. If you are a Bitcoin enthusiast, then, Purpose ETF is what you need and can buy shares for about $10.25.
Dogecoin has grown at an insane rate in the last year reaching 23, 430 growth rate. Dogecoin has gone from $0.0034 per share to $0.80 per share. The crypto started as a joke just like any other cryptocurrency stock.
The whole cryptocurrency market is so volatile and a move of a single cent could create a huge dent in one who has invested enough to make millions. However, given that Dogecoin shares cost $0.80, it is affordable to stake small.
HIVE Blockchain Technologies (TSXV: HIVE) is a company that invests in climate-controlled data centers to mine and sell cryptocurrency. It an actual business and not a currency and grow through acquisition. The company’s growth is dependent on revenue, recently, its revenue has increased to $ 13 million up from $ 5 million last year. HIVE shares are also up by 1, 123 percent in the last year alone and are trading at $4.22 per share.
Cryptocurrency investment is an area of volatility, however, you can consider the three stocks trading under $12 per share. HIVE stock seems more stable considering it is dependent on the performance of the actual currency. As long as cryptocurrency is around, HIVE stock has a future.