Bitcoin (BTC) is becoming more popular as an investment option among crypto enthusiasts. This is mainly due to the projected inflation of the US dollar and the fact that there are now more trustworthy and easy ways to invest in Bitcoin even for institutional investors.
According to Coin Market Cap, Bitcoin currently has over 8000% return on investment. That is a lot higher than most investors outside of the cryptocurrency space can boast of. Moreover, BTC is starting to gain more attention, which means it’s just a matter of time before space gets crowded with the “big fish.”
Then follow us on Google News!
With Bitcoin investment, however, come some issues, such as price volatility and uncertainty of the price behavior, as the industry is still young and trying to stabilize. This makes it quite a risky investment for newbies because it requires years of patience to yield any serious returns. It can also be a wild ride for you if you are entering the space for the first time, as there are lots of bad players, such as scammers who want to take your Bitcoins.
Therefore, you must have a clear direction on how to properly and safely enter the space. In this guide, we’ll look at easy ways to invest in Bitcoin in 2020, as the crypto industry is constantly evolving, and the methods used 2 or 3 years ago may no longer be as reliable today. The following are the top options for you to consider.
1. Buy and HODL
That’s right, HODL. If you want to play safe and avoid any tedious process of being a Bitcoiner, the best option is to buy some coins and keep them. This will require that you get a Bitcoin wallet, many of which are available to suit different users. They may be online, desktop, or mobile wallets. The one common denominator they have is that they all require an internet connection to use.
There are, however, hardware wallets and paper wallets that allow you to hold your Bitcoins completely off the internet or any device. This is considered to be far safer, as hackers and other bad elements will not be able to access your wallet even if they steal any of your devices.
Once you get a wallet that suits your purpose, the next thing is to buy BTC. This can easily be done on one of the top exchanges. Immediately after you get some coins in your wallet, you can wait for Bitcoin to appreciate, and you will know when it is time for you to sell and make some good profit. Even if it takes a bit of patience, it is one of the safest and easiest ways to invest in Bitcoin right now.
2. Bitcoin Cloud Mining
Mining is the process through which new Bitcoins are released into the circulating supply. Miners are the people responsible for mining Bitcoin, and they get rewarded with new Bitcoins in the process. This, however, requires a certain level of technical expertise as well as the purchase of complicated mining equipment that consumes a lot of electricity, making it impractical for the average person to venture into.
Thanks to advances in the crypto space, anyone can now do it through cloud mining. As an investor, you just need to buy hashing power from a cloud mining agency, and you can start mining Bitcoin in minutes without having to maintain mining equipment or do all the hectic work. Anyone looking for easy ways to invest in Bitcoin can do so without any difficulty and make some profits based on their hashing power.
3. Invest in Bitcoin Funds
The third way to invest in Bitcoin is by using an investment platform, such as Grayscale. All you have to do is put your money in the fund by buying a certain amount of the cryptocurrency and leave the management to the professionals. Institutional investors find this investment style quite attractive because it comes with insurance and the assurance of the safety of their investments.
It is one of the best ways to invest in Bitcoin if you don’t want to be actively involved in the management and is getting more and more popular as Bitcoin is increasingly gaining the trust of institutions.
Now that you know so much about Bitcoin investments, it is time to get into space in order to share in the “Bitcoin cake.” Analysts see cryptocurrencies doing better in the coming years, and with these easy ways to invest in Bitcoin, you can safely participate in the space and get your own profit out of it when the time comes.
Featured image: unsplash.com
coindoo.com is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT
Send Tip now!