Want to Invest in Cryptocurrency? Consider This Stock, Which Grew 545% in 2021
Cryptocurrencies were one of the hottest trends in 2021 as they made their way into individual investors' portfolios. A study published by the University of Chicago in July 2021 reported that 13% of Americans surveyed traded cryptocurrency during the 12 months prior, and while that is less than the 24% of Americans who traded stocks over the same period, it still shows that crypto is being adopted by more than a small niche group of investors.
However, deciding which cryptocurrency to invest in can be extremely difficult, and exchange-traded funds (ETFs) that track cryptocurrencies can sometimes charge egregiously high fees. For example, the Bitwise 10 Crypto Index Fund (OTC: BITW) charges a 2.5% expense ratio -- meaning it takes $25 for every $1,000 invested each year. This is much higher than traditional stock market ETFs like the Vanguard Total Stock Market ETF (NYSEMKT: VTI), which has an expense ratio of just 0.03%.
If you want to avoid these high fees, but aren't ready to invest directly into cryptocurrency, Coinbase Global (NASDAQ: COIN) might be a better alternative to dip your toes in the water. The company is the leading crypto trading platform for individual investors and traders, along with institutional investors. On top of that, the company's revenue is well diversified, making it a smart way to invest in this fast-growing industry. With its major growth and impressive profitability, Coinbase might be the perfect crypto play for you.
Source Fool.com
