There are various ways you can invest in Bitcoin. Because of the growth and popularity of this cryptocurrency online, a plethora of companies have joined the wave as Bitcoin’s mass adaption continues.
Please understand, that in everything comes risk. Bitcoin can either shoot to $20,000 or drop down to $2000. Monitoring your investments is very crucial.
In this article, we will break down each method of how you can invest in Bitcoin. Before we begin, understand that we are not financial advisors. Invest only what you can afford to lose. This guide is for educational purposes only.
Bitcoin Wallets
Before you can invest in Bitcoin, you need to get yourself a Bitcoin Wallet. Understandably, a Bitcoin Wallet is where you store your funds. This can be used to send Bitcoin to other people via their wallet address and vice-versa using your wallet address.
When you sign up for either an online wallet, desktop wallet, mobile app wallet, or hardware wallet, a Bitcoin Address automatically gets generated. Use these wallets to view your growth and transaction history.
Below is a list of wallets you can use for storing your Bitcoin:
Holding Bitcoin (HODL)
A popular way to invest in Bitcoin is by buying some. At the time of this post, 1 Bitcoin is equivalent to $10,000. The potential for Bitcoin to go to $100,000 or 1,000,000 dollars is still very real.
For those who can’t afford to buy one entire Bitcoin, you can purchase Satoshis or pieces of Bitcoin. If you decide to buy $100 worth of Bitcoin, that is equivalent to 0.01 Bitcoin or 1000000 Satoshis. If Bitcoin were to surge to $100,000, that $100 investment would turn into $1000.
To get started, you can buy Bitcoin from various platforms online. Below is a list of places you can buy Bitcoin from:
Mining Bitcoin
Another popular way to acquire Bitcoin is through Mining. At the time of this article, there are approximately 2.6 million Bitcoins left to mine. Mining is done so using ASIC mining machines and computing power using CPU and GPUs. With enough power, you can mine 1 block of Bitcoin which will earn you profits.
Due to the level of difficulty after each Bitcoin Halving, mining Bitcoin by yourself is not the best option. The amount of money you will have to spend to earn a single Bitcoin is not worth the expense of hardware and electricity alone. When you join a mining pool network, that level of difficulty gets reduced significantly.
There are various ways you can get in on the action. You can earn Bitcoin by joining a mining pool with your ASIC machines, mining using your existing computer, or joining a Cloud Mining platform where you rent out mining machines and earn a monthly residual profit.
Below is a list of mining methods you can use in your efforts to earn Bitcoin:
ASIC Mining Machines:
Mining Pools:
Computer Mining:
Bitcoin & Crypto Trading
Those who have experience trading stocks and commodities may enjoy the fact that you can do the same with Bitcoin and cryptocurrencies. With experience, you as a trader can earn a daily profit by trading your Bitcoin for altcoins such as Litecoin, Ethereum, and Bitcoin Cash.
Take advantage of market swings by buying and selling crypto at the right moment each day. For inexperienced users, you may lose more than you gain. So consider this investment option risky and enter at your own risk.
Below is a list of platforms where you can trade your Bitcoin into other cryptocurrencies:
Overview
In this guide, we mentioned various methods of ways to invest in Bitcoin and earn profits. Whether you decide to buy and hold Bitcoin, mine for it, trade for it, or jump into an investment platform, you can earn and grow profits over time.
