Cryptocurrencies are all the rage these days, especially as traders see stories circulating about people making tremendous profits from the tokens. The Winklevoss twins, famous for their involvement in Facebook, made $3 billion each by investing in Bitcoin (CRYPTO:BTC). Michael Saylor and Matthew Rosak, two other early investors in the cryptocurrency, made $2.3 billion and $1.5 billion, respectively. Tales like that make it hard to resist the urge to invest a little money in the trend.
Now, on the one hand, most people don’t fill their retirement portfolios with highly volatile investments unless they’re both ambitious and have a long time to ride out the crazy swings. On the other hand, even investors in their senior years need to have some exposure to growth assets, and cryptocurrencies have lots of potential to deliver big gains.
To that end, we asked three Motley Fool contributors to share one investment each in the cryptocurrency space that they’d be willing to add to their retirement portfolios. Their picks: Coinbase Global (NASDAQ:COIN), Hut 8 Mining (NASDAQ:HUT), and the Siren Nasdaq NexGen Economy ETF (NASDAQ:BLCN).
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Buy a broker
Eric Volkman (Coinbase Global): One efficient way to play the cryptocurrency trend is by purchasing stock in a company that earns transaction fees from trades of all the major tokens. Say hello to Coinbase Global, operator of one of the most prominent cryptocurrency exchange platforms in the world.
Coinbase’s results have been rising along with cryptocurrencies’ popularity. Fueled almost entirely by trading revenue, its top line has ballooned from $178 million in Q2 2020 to nearly $500 million in Q4, and then to $2.03 billion in Q2 2021. Its tally of monthly transacting users also rose dramatically across that stretch, from 1.5 million to 8.8 million.
And like other middleman securities-exchange businesses — which take on little investment risk of their…
