Bitcoin is still considered a risky investment. This is because the bitcoin market is unregulated, and bitcoin exchanges are vulnerable to hackers. However, many investors have been able to profit from bitcoin without actually buying it! One way to do this is to purchase stock in companies that develop and implement blockchain technology. Another way to profit off of Bitcoin without buying it is to invest in companies that are currently using the cryptocurrency. Here are some examples of stocks that allow you to profit off of bitcoin during Covid:
- Grayscale Bitcoin Investment Trust (OTC: GBTC)
- HIVE Blockchain Technologies Ltd. (OTC: HIVE)
- DigitalX Ltd. (OTC: DGGXF)
- NVIDIA Corp. (NASDAQ: NVDA)
- CME Group Inc. (NASDAQ: CME)
- Overstock.com Inc. (NASDAQ: OSTK)
- Square Inc. (NYSE: SQ)
- Goldman Sachs Group Inc. (NYSE: GS)
- Cboe Global Markets Inc. (NASDAQ: CBOE)
- Advanced Micro Devices Inc. (NYSE: AMD)
- U.S. Global Investors Inc. (NASDAQ: GROW)
How Do You Buy These Stocks?
While some investors purchase stocks in person, it’s generally much easier to buy and sell stocks online. Some examples of websites that allow you to buy and sell stocks online are E-Trade and Scottrade. These websites are popular and reliable. In addition, they are both affordably priced. They also allow you to track the prices of stocks over the course of time. These are some other stock trading websites to consider:
- TD Ameritrade
- Charles Schwab
How Long Should You Hold on to These Stocks?
You should think of them as a long-term investment. In most cases, these stocks are most profitable if you hold on to them over a period of many years.
Can You Invest In Businesses That Are Just Getting Off The Ground?
There are many new Bitcoin startups, and it’s likely that there will be more of them in the future. Here are some ways that you can invest in Bitcoin startups:
- You can purchase shares of the company through online crowdsourcing programs. Many Bitcoin startups use online crowdfunding to get the capital that they need to launch their business. One great crowdfunding platform to buy shares in these businesses is BnkToTheFuture (https://bnktothefuture.com).
- You can also buy shares of new Bitcoin startups on commonly used stock trading platforms.
Consider Investing In Adjacent Technologies:
Bitcoin requires many different technologies to run properly. Therefore, one option is to buy stock in a company that manufactures one of these technologies. Here are some companies that you should consider:
- IBM: (NYSE: IBM) manufactures devices that are used to solve algorithms that are essential for Bitcoin’s network. In addition, artificial intelligence that IBM is developing may make bitcoin mining much easier in the future.
- Bitcoin Wallets And Exchanges: There are many different companies that create the online wallets and exchanges that are necessary to store and trade Bitcoins.
- Cloud accounting is the future. It’d be wise to invest in as the cloud isn’t going anywhere.
Keep in mind that investing in adjacent technologies generally doesn’t produce rapid returns. The average returns on the stocks of many adjacent technologies are around 5% a year.
How to Invest in Bitcoin If You Don’t Have Money Available at the Moment:
Here are some ways that you can find the money that you need to make this investment:
- Get A Car Title Loan: These loans are one of the fastest ways to get spare cash. Car title loans are secured loans that require you to list your vehicle as collateral. While interest is charged, you will not pay interest if you pay back the loan quickly enough.
- Lending Tree: Lending Tree allows you to choose from a variety of loans online, and using the service is very easy.
- Sell Your Clutter: Extraneous items can be sold on eBay or Amazon. In some cases, you could earn several hundred dollars or more this way. If you aren’t able to sell your clutter online, having a garage sale is another great way to get some cash in your pocket.
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