Dogecoin Is Down Big -- Try This Growth Stock Instead
Cryptocurrencies are having a blockbuster year, with returns for some of the most popular tokens running circles around the S&P 500 stock market index. Dogecoin is one of them, rising more than 3,000% since Jan. 1. But as impressive as that sounds, it was up many times that amount back in May, and has been steadily trending down since -- more than 70% at Monday afternoon's prices.
Dogecoin's lack of adoption as a payment solution is preventing it from growing into more than just a vehicle for speculation, and that should worry investors who bought it near its high point. To date, just 1,680 small businesses have registered to accept Dogecoin, and that number is growing at 50 per month -- not exactly enough to build a significant global footprint.
For investors looking to buy a piece of a successful financial technology platform, there are better alternatives. Affirm Holdings (NASDAQ: AFRM) integrates with online businesses to finance consumer purchases at checkout, and thanks to recent deals with leading e-commerce giants, it could have access to over 300 million new customers.
Source Fool.com
