Cryptocurrencies are exciting. They’re also extremely volatile, and there’s a good possibility you could lose your entire investment if you buy bitcoin, Ethereum, Ripple, or any other cryptocurrency.
In short, buying cryptocurrencies is a form of speculation, not investing. Instead, consider investing in companies that could potentially benefit from the surging cryptocurrency market but will also do just fine if cryptocurrencies start to fizzle out.
Here’s why our contributors think Square (NYSE:SQ), Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL), and Seagate Technology (NASDAQ:STX) are smarter ways to go. Matt Frankel (Square): The best way that investors — not speculators — can get a piece of the growth in the cryptocurrency market isn’t to buy bitcoin, Ethereum, or any other cryptocurrencies.
It’s also not a good idea to invest in a company that adds “blockchain” to its name, or to put your money into an initial coin offering. Instead, the smartest way to play the cryptocurrency trend is to invest in a company with a thriving, growing business that could also benefit if cryptocurrencies start to become more mainstream.
Payment-processing company Square is my favorite example. Companies are adopting Square’s small-business payment solutions all over the U.S. and the other four countries Square currently operates in. Read more from fool.com…
thumbnail courtesy of fool.com