How to Buy TaaS Stock | The Ultimate Step-by-Step Guide

Moving people and goods from one location to another is the bedrock of many large businesses. With the growth of the tech-driven economy, the transportation industry is experiencing a digital refit. People can now get customized service delivery from any location. Due to the success of TaaS, many tech titans, venture capitalists, and investors are buying into the industry.

Collectively, these transport businesses are what you call TaaS stock. Today the industry looks very promising, and many people wish to know how to buy TaaS stock. Investing in TaaS might be a great decision.

See: Is Ford A Good Stock To Buy And Hold?

Beyond the right stocks, knowing the right time to invest is essential. Your ability to spot new and expanding markets will increase your earning potential. Lately, TaaS stocks look promising. But, do you know what is TaaS or how to buy TaaS stock? What are the top TaaS stocks?

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What is TaaS Stock?

TaaS is a derivation for; Transportation as a Service. On the other hand, TaaS stock refers to a monetary asset that a public company sells in the TaaS industry. The idea of TaaS is relatively new. TaaS is the use of a third-party solution to meet transportation needs. It means using a vehicle that does not belong to you to either transport items or people.

A typical example of TaaS is rideshare services like Lyft (NASDAQ: LYFT) and Uber(NYSE: UBER). Nonetheless, the industry is more than just rideshare products. According to Elon Musk, soon, Tesla (NASDAQ: TSLA) will be able to shuttle human beings and goods in fully automated Robo-taxis. Companies like Joby Aviation (NYSE: JOBY) are also championing the idea of flying cars that will be able to make their way over traffic.

Transport as a service is one term that has been around lately. Ubiquitous Taxi Cab is among the companies offering transport as a service. Also, Avis Budget Group (NASDAQ: CAR) offers TaaS that allows you to work and drive your vehicle. TaaS utilizes technology to provide its service more efficiently.

During the pandemic, TaaS stock was affected unequally. Companies that deal in goods and product delivery experienced a boom since many people were unwilling to go shopping. However, the rideshare side of the industry experienced difficulties as people stayed back in their houses to prevent infection. Nonetheless, TaaS stock is a relatively new ground to explore that shows a lot of growth potential.

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Why is TaaS Industry Currently on the Rise?

As private car ownership continues to decline, the direct result is a boom in the TaaS industry. The reasons are not far from the following:

1. Purchasing a car is a pricey one-time asset:

Cars are generally not cheap, and the purchase cost is only the beginning. Also, considering the cost of registration, insurance, cleaning, and occasional maintenance, owning a car is like having an extra dependent family member.

2. Hike in the prices of PMS:

Besides the current prices of PMS, people understand that a future hike in price is possible. Therefore, many people think twice before going for a private car. The truth is, these fears will not go away overnight.

3. Working from home is now a trend:

Working from home was initially common among freelancers. Today, it is now part of many business models. The recent technological advancement also lends a helping hand to the growth of home offices. One of the effects of the pandemic further reduced the need for private vehicles. As a result, TaaS is reasonably more cost-effective since owning a car is not compulsory.

4. There is consistently the need for more parking spaces as the population continues to expand:

The more the population of cars on the road, the more it becomes inconvenient to drive. According to estimates, cars spend around 95% 0f their time inactive.

Therefore, spending money on an asset that only performs 5% of the time can be wasteful. Owing to this factor and others, TaaS is an industry with a promising future.

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Leading Companies in the Fast Rising TaaS Industry

It might be hard to determine if TaaS stock is a good buy since the industry comprises many companies within the TaaS industry. Therefore, it is essential to identify some of the key players in the industry. Below are the best TaaS stocks to buy in 2022 based on their performance.

1. Uber (UBER)

Uber is one of the most common names today in the TaaS industry. It is based in San Francisco and provides Transportation as a Service. The daily number of Uber trips tells their success story (about 19 million globally).

In February 2022, the price of UBER on NYSE was around $34. According to a 12-month study, analysts project a value of between $34 and $84 for UBER stocks.

2. Lyft (LYFT)

Lyft is another company that allows customers to hail rides. They also offer vehicles for hire and provide a bicycle sharing system. Lyft is among the leading TaaS companies. In February 2022, the LYFT value was $38. Analysts forecast an increase of $47 to $85 in the next twelve months. Therefore, purchasing a Lyft stock might be a great way to go in 2022.

3. DoorDash (DASH)

DoorDash is prominent in the TaaS industry and specializes in food and convenience. One of the primary functions of the company is the delivery of groceries. In February, the stock price was around $102. Over 12 months, analysts predict a rise in DASH stock prices to $118 – $230.

4. Avis Budget Group (CAR)

Avis Budget Group, listed as CAR on NYSE, is another TaaS stock worth considering in 2022. The corporation encompasses companies like Avis Car Rental, Zipcar, and Budget Truck Rental. The value of CAR stock on the NYSE was as high as $180 in February 2022.

According to analysts, a 12-month projection shows that CAR stocks will reach a price of $168-$333.

Pros and Cons of Investing in TaaS Stocks

Pros

1. It is a fast-rising industry with a lot of growth potential.

With more people resorting to rideshare, TaaS has a promising future.

2. Prices will most likely go up in a short time.

Investing in TaaS stock today can be a wise decision. According to a 12-month projection, prices are most likely to increase by about 50%.

3. There are numerous opportunities within the industry to invest.

TaaS is a collection of different industries under the transport sector. It can be a great way to diversify your investment.

Cons

1. Still a young industry, and not easy to make long-term projections

TaaS is a relatively new industry, and hard to make long-term projections. Therefore, the risk of investing remains high.

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How to Buy TaaS Stock

It is essential to understand that you cannot buy TaaS directly. You must first purchase bitcoins to exchange for TaaS. You can buy bitcoin with a credit card, cash, or even PayPal. Below are the steps you need to follow to buy TaaS. Understanding how to buy TaaS Stock will help you make the right purchase.

How to Buy TaaS Stock with Credit or Debit Card

Buying TaaS with a credit card is an easy step-by-step process. However, it can be a bit confusing for first-time users. The first step to buying TaaS stock is purchasing Bitcoin/ Ethereum with your credit card and converting them to TaaS.

#1: Go to Coinbase and create an account.

If you have a Coinbase account, you can proceed to buy your Ethereum from there. However, new users must create an account on Coinbase using the following link.

Once you open the link, click the sign-up button to complete the application form. Ensure that your name appears exactly the way it is on your identity card on your application. Enter a valid email address and your location.

Coinbase falls under the regulation of the United States Government and adheres to strict financial guidelines. Therefore, your identity needs to be verified before you will become eligible to use your account. While verification will take some time, it makes Coinbase a trustworthy platform for converting regular cash to crypto.

#2: Verify Your Coinbase Account

To verify your account, you need to do the following:

• Upload your phone number
• Upload an approved photo identity with your image
• Verify your bank details or credit card

Once Coinbase approves your information, you will become eligible to buy cryptocurrency. Using a card on Coinbase attracts higher fees. However, it also enables instant processing of purchases. A bank transfer is a cheaper but slower way to purchase cryptocurrency. Processing of transactions can take up to a week.

Once the site verifies your payment details, go to the top menu to click the BUY/SELL button. Select Ethereum and select how many coins you want to buy. Once you input the amount, use BUY to complete your transaction. The system will require you to confirm your purchase. Click the CONFIRM BUY button to complete your purchase and have Ethereum in your account.

3. Create an Etherdelta Account

Congratulations! You now own a Coinbase account with Ethereum in it. The next step is to create an Ehterdelta. Follow the link to navigate to the Ehterdelta site and create an account. Ethereum/TaaS should be pre-selected once the page loads. If it is not, click the coin name you see instead of TaaS. It will open a drop-down menu. Find and select TaaS.

Caution: never give out your private key to anybody claiming to be a staff of Etherdelta. It is one of the easiest ways to expose yourself to scammers.

Go to the top menu and click SELECT ACCOUNT and then click NEW ACCOUNT. You will see your Ethereum private key and wallet address. Copy them out and store them in a safe place. You might never be able to gain access to your account again if you lose your private key. Once you copy out the information, click OK to proceed.

4. Transfer Ethereum From Your Coinbase Account to Etherdelta

Go back to your Coinbase account and click on ACCOUNTS at the top menu bar to display your Ethereum wallet. You will find it on the left side of your account. Use the send button to display the recipient box. Paste your Ethereum wallet into the space and type in the amount of Ethereum

(ETH) you want to transfer. To transfer everything, click the use max option. Once you enter your amount, click CONTINUE to proceed.

Coinbase may require you to confirm your order using your password or phone number. Continue to follow the instruction until Coinbase verifies that your coin transfer is successful.

5. Go to Etherdelta and Confirm Your Balance

It will take a few minutes before your Ethereum arrives in your account. Exercise some patience and wait for your ETH.

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6. Proceed to Exchange Ethereum for TaaS

Etherdelta works with a kind of fee known as gas. It is a fee for computer resources that miners invest in for transactions. To fast-track your exchange, you need to adjust your gas price on Etherdelta. Click the last button on the top right menu and select gas price from the drop-down menu. A pop-up menu will appear, type in a maximum of 30 and click SET GAS PRICE.

Note: all transactions attract a gas price, even if it fails. Low gas prices signify slow transactions and those with a high risk of failure. It is essential to be abreast with the gas price beforehand. For more information on how gas price works, visit the following site.

Any Ethereum you transfer to your account will show up under balance. Move your Ethereum balance to make it available for trading. Enter the amount of ETH you want to trade for TaaS in the amount field under ETH.

Remember, do not trade all your available ETH. You require some in your wallet to carter for gas fees. Choose your amount, and click DEPOSIT to proceed with your transaction. You will see a pop-up menu notifying you that your coins are on the move. As soon as ETH moves to the Ethadelta column of your balance, you can start trading.

Check the ORDER BOOK column to find TaaS’s current buy-and-sell orders. The green signifies users that want to buy TaaS.

How to Buy TaaS on the Etherdelta platform

There are two ways to buy TaaS on the Etherdelta platform:

• The first and easiest way to buy TaaS stock is by clicking the sell order (red). You can buy the listed amount of TaaS from a seller or select the amount you want to buy. Once your transaction is successful, a pop-up menu will notify you.

Caution: always check the current price of any coin before purchasing. Be wary of scammers too.

• If you are a new user, it is best to use option one. Experts can work with option two. To purchase TaaS with this option, click on ‘NEW ORDER’. Enter the amount of TaaS you want to purchase in the box provided. Go to the TAAS/ETH box and set the buy ratio. Ensure you are conversant with the current price. Many users get confused and set unrealistic exchange rates.

Once you fill out the first one, the rest will automatically fill up. If you are satisfied with the number, click buy. The order will appear on the exchange column. If a seller does not find your request, it will expire, and the Etherium will reverse.

Conclusion—Is TaaS Stock a Good Investment?

Knowing when to invest in a stock is as important as understanding how to invest. Therefore, when deciding how to buy TaaS stock, timing is essential. Today it is easier to move both humans and goods using delivery services. Thanks to the introduction of technology to the industry. While the opportunity to earn from TaaS remains promising today, bear in mind that it does not mean that it is immune to risks.

Fluctuating conditions can be a factor that can determine the outcome of both the stock and the TaaS industry itself. Therefore, ensure you carefully verify your choice before investing. If it is your first time investing, consider comparing different brokers for the best price.

FAQ How to Buy TaaS Stock in 2022

References

Fool.com—Investing in TaaS

spendmenot.com—What is TaaS Stock?

Finder.com—TaaS Stocks

Review42.com—What Is TaaS Stock? [Facts and Forecasts for 2022]

buycryptocoinnow.com—How to Buy TaaS (TAAS)

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