5 Ways You Can Invest Wisely In BitcoinKehinde LAWAL
Bitcoin is the best performing asset in the last 10 years. It has risen by 700,000% since 2009, beating Gold, S&P 500 and all traditional stocks in Return On Investment (ROI).
It’s gradually catching the eyes of the youth, as Daily HODL posted on Monday that according to a research by Charles Schwarb, many millennials are opening in to invest in Bitcoin over Netflix, Disney and other traditional stocks.
What do you think is happening?
I’m kind of perplexed on whether it’s the outrageous returns that are attracting the millennials or the technological innovations Bitcoin has.
I feel it’s a combination of both reasons, coupled with the fact that the traditional financial system is been manipulated. and filled with corrupt individuals/institutions who lack transparency and prefers to only eat up your funds with fees.
So how can you invest wisely in Bitcoin?
Below are the 3 best ways to invest in Bitcoin and other Cryptocurrency:
1. Bitcoin Education:
Although this may sound odd, it’s perhaps the most profitable investment you can make in Cryptocurrency. No matter your current industry or profession, having a vast knowledge of Bitcoin will open many doors for you.
You can easily get paid more money but still performing your normal job in a blockchain or crypto company. Another way to earn is through writing articles for blockchain and crypto companies, this you can do in your leisure time.
2. Bitcoin focused Tech Companies
If you’re the type that likes to invest in stocks because they’re less volatile and has been returning a consistent profit over the years, then this for you. You should look into the stocks of Blockchain focus Tech companies like IBM, Microsoft, Alibaba etc. The video below by CNBC explains it better.
— CNBC (@CNBC) April 25, 2019
3. Bitcoin ETF
A Bitcoin-ETF would be an investment tool using Bitcoin as the main asset. The main purpose of it would be to facilitate the investing process into cryptocurrency and make it more attractive for the community. It’s similar to investing in stocks of companies focused on blockchain but this time around it’s a fund and it’s traded alone.
4. Buying and selling of Bitcoin
You can as well invest in bitcoin by buying it at a cheaper price and selling it at a higher price. Platforms like Paxful allows you to do this. For instance, you can buy bitcoin cheaper in Nigeria and sell it at a higher price in Kenya or Malaysia. This will require you to use Paypal or open a bank account in those countries.
Here you sell the Bitcoin immediately at a higher price to someone in another country. That way, you avoid loss due that can come from its volatility in price. The video below by Hardcore Crypto explains it better.
5. Trading Bitcoin on Crypto exchange:
You can also make cool cash by trading bitcoin on exchanges like Binance and LUNO. Here you will need to buy Bitcoin and wait till the price increases. Although it can be a profitable way of investing in crypto, it does require a large amount of capital and technical expertise on your side. Besides having the capital, you also need to know that volatility in price and the fees charged by the exchanges will often eat a big chunk of your profit.
I just gave you five easy ways to invest wisely in bitcoin and other cryptocurrencies. Although I personally believe investing in crypto education is the best, you may also decide to invest in Bitcoin ETF, Blockchain focused companies and buying and selling of Bitcoin. It all depends on your financial situation and risk appetite. Which do you think is the best for you? I will like to hear in the comments below.