Daverz
3 years ago
Oh! I only meant that I'd likely use the USD, since all my funds are in USD dollars these days. After the APH/CGC/OGI.tsx stock craze of 2017 followed by the Bitcoin blitz of Early 20180, I found myself just kinda browsing about the different markets. Found Small Caps (.01->.10 I was liking most) which I enjoying playing, back in '18. From there, I found the Penny Index. After some big wins (yes, AND losses..omg lol **FACEPLANT**)
Have stayed with THE US Penny Market until I've reached close to 200k(CAD), then to move back up to higher Markets Again (some ETFs incl.)
...yep....that's the plan, fingers crossed :^)
sheldon
3 years ago
The next Multi Multi Bagger
Forget Hive Blockchain (TSX:HIVE) Stock: Here’s a Better Opportunity
Vishesh Raisinghani | March 9, 2021 | More on: BNXA HIVE
Diagonal chain made of zeros and ones. Cryptocurrency and mining.Image source: Getty Images
Bitcoin mining startup HIVE Blockchain Technologies (TSX:HIVE) has had an incredible run over the past year. The stock is up a jaw-dropping 2,116% over the past year. That means you could have invested $10,000 in the stock when the crisis erupted last March and have $211,600 right now.
The stunning growth in Bitcoin adoption has been the prime driver of HIVE stock over the past year. However, the stock is now starting to look like it’s priced to perfection. Meanwhile, a much better opportunity may have emerged in the Bitcoin sector that could deliver similar returns over the next year.
If you’re curious about the cryptocurrency sector and are looking for hyper-growth opportunities, here’s what you should know.
HIVE stock valuation
HIVE stock is considered a proxy for Bitcoin by most investors. The company owns and operates massive server farms that mine BTC. Some of this freshly minted BTC is sold to finance operational growth while the rest is held in reserve. HIVE stock is to Bitcoin what a gold miner’s stock is to gold.
However, the miner’s stock has outperformed the underlying asset, which is never a good sign. Bitcoin’s market value has surged 560% over the past year, far lower than HIVE stock’s performance over the same period. The company is now worth $2 billion, while its underlying BTC reserves are worth only $15 million.
Annualized revenue from mining could be roughly $54-$100 million this year. That means the company’s valuation ranges from 10 to 20 times forward sales and 133 times crypto reserves.
In short, the price is simply unjustified. Bitcoin could deliver a tenfold return by the end of 2021 and HIVE stock would still be overvalued. Instead, Canadian investors can invest in a crypto stock that’s arguably better valued.
Banxa stock
Australia-based Banxa Holdings (TSXV:BNXA) is a crypto payment processor. The company allows users to convert their traditional currencies (Canadian dollars, U.S. dollars, etc.) into crypto (BTC, ETH, etc.).
Banxa is arguably a better opportunity than HIVE stock for two reasons: valuation and business model.
Payment processing is a low-margin, high-volume, capital-light business. Stocks in this industry have had a tremendous run over the past year. As consumers spend more over the next year, their transaction volume should surge. In Banxa’s case, total transaction volume is amplified by the market value of cryptocurrencies.
Meanwhile, financial regulations act as barriers to entry. Banxa seems to be the dominant payment processor for crypto in Australia and Canada. It’s gaining momentum in other countries too. That puts it in a favourable position as adoption grows.
Finally, Banxa’s market value is just $150 million at the time of writing. That’s doubled since late January. The stock is trading at a price-to-sales ratio of just 10. Not only is that reasonable when compared to other payment stocks, but it’s also much fairer than HIVE stock.
Bottom line
HIVE stock is overvalued and newly listed Banxa Holdings could be a better opportunity for Bitcoin investors.
Looking for
sheldon
3 years ago
Great growth numbers for Febuary..
BANXA Total Transaction Value (TTV) up 980% PCP for February 2021
V.BNXA | 2 hours ago
Canada NewsWire
TORONTO and MELBOURNE , March 8, 2021 /CNW/ - BANXA (TSXV: BNXA) (FSE: AC00) (OTCQX: BNXAF) ("BANXA" or "Company") a Payment Service Provider (PSP) for the digital asset industry announced Total Transaction Value (TTV) for February 2021 of CAD $70.4M (AUD$71.5M). This result is up over 980% from Feb 2020 based on the Previous Corresponding Period (PCP). [Management Prepared].
BANXA Holdings Inc. Logo (CNW Group/Banxa Holding Inc)
This follows the January 2021 reported TTV of CAD $55M , bringing the combined TTV for Jan/ Feb 2021 to CAD $125M , which means the company has exceeded the December 2020 quarter TTV of $111M with a month still to go.
Holger Arians, CEO of BANXA said, "Since our launch in 2014, Banxa has grown from strength to strength. The recent dip in the bitcoin market has left our order volume unaffected, and our market share continues to increase. As the company expands, our aim is to build our systems and teams for scale. While we anticipated rapid growth, current market conditions are having us revise our projections as we continue to exceed our own forecasts. We look forward to 2021 and the unveiling of new products and offerings to better serve our customers and partners."
Banxa provides its clients safe, compliant access to the digital assets market, Banxa partners include major exchanges and wallets including Binance, OKEx, Huobi, Edge and Kucoin. Unlike its competitors, Banxa actively pursues regulation and licensing in the markets that it enters, with the aim of providing more options and services for its global customer base.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA"
Domenic Carosa
Chairman (+1-888-218-6863)
About BANXA
BANXA (TSX-V:BNXA - Banxa Holdings Inc.) is a Payment Service Provider (PSP) with a mission to build the bridge between traditional financial systems, regulation and the digital asset space. Our goal is to onboard the general public to digital currency by building a fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency. (USD/CAD to BTC/ETH) Banxa has offices in Australia and the Netherlands . For further information go to www.banxa.com
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. BANXA's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of BANXA's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company's business, including: BANXA's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results. Except as required by securities law, BANXA does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Further Information, see www.banxa.com
SOURCE Banxa Holding Inc
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2021/08/c6618.html
Canada Newswire
March 8, 2021 - 6:00 AM PST
Tags:
ASSET-MANAGEMENT FINANCIAL SERVICES
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sheldon
3 years ago
Banxa The next Lightspeed....
his Stock Could Be the Lightspeed POS (TSX:LSPD) of Bitcoin
Vishesh Raisinghani | March 7, 2021 | More on: LSPD LSPD BNXA
Big Bitcoin logo.Image source: Getty Images
Lightspeed POS (TSX:LSPD)(NYSE:LSPD) has probably been one of the best-performing Canadian tech stocks of the past year. The stock price has climbed a jaw-dropping 600% since last March. Investors remain bullish about the company’s prospects.
However, a tiny, little-known company could be the Lightspeed equivalent of the cryptocurrency world. Here’s a closer look at a stock that should probably be on every Canadian growth investor’s radar.
Lightspeed for crypto
British Columbia-based startup Banxa Inc. (TSXV:BXNA) recently listed on the Venture Exchange. The company provides a simple payment system that serves as a bridge between traditional fiat currencies and cryptocurrencies. Essentially, it allows users to pay for BTC or ETH in USD, CAD or any one of their local currencies.
According to the company, a simple five-minute process allows any crypto business to integrate the payment platform onto their website and convert fiat currencies to crypto. Banxa manages the Know-Your-Customer (KYC) procedures and accepts payments via Mastercard, Visa, Apple Pay, Interac E-Transfer and POLi.
Essentially, Banxa the Lightspeed equivalent of the digital assets world. The ability to use regular bank accounts and payment methods to buy BTC or ETH solves a critical bottleneck for billions of potential users. This easy-to-use platform that already complies with financial regulations in major economies could be the key to higher crypto adoption.
Banxa’s outlook
Crypto adoption is growing rapidly and Banxa’s Business to Business (B2B) product already reaches over 1.2 million users. As the industry matures and flagship cryptocurrencies such as Bitcoin become more widely accepted, Banxa’s services could become more essential.
The company processed $195 million in transaction volume over a six-month period ending in December 2020 — up 780% from the same period in the previous year. Annual revenue could be around $15 million by the end of the year. Banxa also reported $12.8 million in cash and current assets, along with 136 Bitcoins (worth $8.2 million) in inventory at the end of 2020.
Banxa’s market capitalization currently stands at $107 million. Meanwhile, Lightspeed POS is worth $11 billion. Considering the above numbers, Banxa stock is trading at a price-to-sales ratio of 6.7 and a price-to-cash ratio of 7.8. That’s unbelievably low for a tech stock with triple-digit growth at the cutting-edge of financial innovation.
If crypto payments and investments capture even a fraction of traditional fiat e-commerce and trading activity, Banxa stock could be a potential multibagger.
Bottom line
Recently listed crypto payments startup Banxa could be the Lightspeed POS for digital assets. The easy-to-use platform allows users to verify their identity and convert USD or CAD into BTC or ETH quickly. This on-ramp solves a critical bottleneck in the crypto industry and could lead to higher adoption.
Banxa stock is trading at a fairly reasonable valuation, especially when you consider its triple-digit growth over the past year. This could be a better bet than Bitcoin miners or crypto ETFs. Keep an eye on it.
Looking for another intense growth stock? Here's a pick.
Should you invest $1,000 in Hive Blockchain right now?
Before you consider Hive Blockchain, you may want to hear this.
Motley Fool Canadian Chief Investment Advisor, Iain Butler, and his Stock Advisor Canada team just revealed what they believe are the 10 best stocks for investors to buy right now... and Hive Blockchain wasn't one of them.
The online investing service they've run since 2013, Motley Fool Stock Advisor Canada, has beaten the stock market by over 3X. And right now, they think there are 10 stocks that are better buys.
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Fool contributor Vishesh Raisinghani has no position in any o
Trade like a pro: Leverage real-time discussions and market-moving ideas to outperform.
Mr.Green
2 years ago
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