If you are reading this, you probably have a passing interest in bitcoin. It may not be the level of a Rachel and Ross romance, but you have definitely caught each other’s attention.
Five options to get into Bitcoin without investment.
However, buying your first bitcoin is a big step, so it is completely natural if you are scared about making it Facebook official. Fortunately, in today’s cryptocurrency era, exposure to bitcoin is easier than ever because of an increasing number of businesses and financial institutions that have adopted digital currency.
Here, I will share some alternate methods to get into bitcoin without investing any money.
1. Invest in businesses that have bitcoin on their balance sheets.
MicroStrategy, a business intelligence firm, became the first publicly-traded company to invest a portion of its cash assets into bitcoin on August 11, 2020. Since then, higher-profile firms like Tesla have included bitcoin in their balance sheets, allowing more investors to get their feet wet without having to jump into the crypto pool. It’s a distinctive approach to gaining exposure to bitcoin while profiting from the company’s success.
The top 5 publicly traded firms that presently own the most bitcoin:
2. Invest in Grayscale Trusts
Grayscale is a financial firm that specializes in digital currencies. It offers two investment trusts (investment vehicles that pool capital from multiple investors) composed of bitcoin and Ethereum, the two most popular cryptocurrencies.
Why should you invest in a Grayscale Trust — rather than just purchasing the cryptocurrencies themselves? In a nutshell, it’s because of security. Grayscale invests and protects digital currencies, so you don’t have to. It’s an important selling point for investors who are concerned about keeping their cryptocurrency savings safe.
GBTC (Grayscale Bitcoin Investment Trust) is a publicly traded SEC-reporting company that you may invest in through your regular brokers, making it more convenient for traders who are less comfortable navigating other options for obtaining bitcoin.
Grayscale Trusts you should know:
3. Invest in crypto trading platforms
Companies that provide a secure and safe manner to acquire and exchange digital assets have also grown more popular over the last decade. Many of them have gone public and are now available to invest in. It’s a little Inception-y, but buying and selling cryptocurrencies through brokerages like Coinbase and Robinhood, which provide consumers with the capacity to buy and sell cryptocurrencies, may serve as a good proxy for purchasing the cryptocurrency itself.
As the market cap of all cryptocurrencies rises, brokerages profit as trading volume increases, resulting in a more diversified upside that isn’t dependent on the success or failure of any one cryptocurrency.
Numerous traded brokerages you should know
4. Invest in blockchain ETFs
The emergence of Exchange Traded Funds (ETFs) — which give exposure to bitcoin and other blockchain-based firms — is a recent development in cryptocurrency. An ETF tracks the performance of a specific industry or sector and may be bought on a stock market.
Blockchain ETFs are funds that invest in firms or projects utilizing blockchain technology, allowing investors to track the performance of these companies (the blockchain will enable cryptocurrencies like bitcoin to exist). This umbrella includes lesser-known firms like MicroStrategy and Galaxy Digital Holding, as well as blue-chip names like Nvidia, IBM, and Oracle — all of which give you a peek into the technology that supports Ethereum and bitcoin.
The blockchain ETFs you should know:
- BLOK (Amplify Transformational Data Sharing ETF)
- LEGR (First Trust Index Innovative Transaction & Process ETF)
- BLCN (Siren Nasdaq NexGen Economy ETF)
5. Earn Bitcoin While Shopping
There is nothing better than finding a $20 bill in an old coat you have not worn in a while.
You may now feel that sensation whenever you shop online using Lolli. Lolli is a plugin of Chrome browser that offers free bitcoin when you shop at specific stores. It’s probably the simplest method to get a taste of bitcoin without having to do anything more than purchasing that cozy bathrobe Instagram keeps suggesting ads for.
These are the top 5 alternatives that you can choose to get rich without buying bitcoin. I hope these options will make you happy and prosperous! Let me know your thoughts, and feel free to leave a few claps if you liked this story.
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