In this post I'm going to break down some great options for investing in cryptocurrency. 2019 has already been a great year for cryptocurrency. If you had invested in Bitcoin at the start of the year, you'd have made over a 100% gain. Not too shabby. And Bitcoin is still way off it's all time high. So there could potentially be a lot more growth to come.
If you're looking to invest in Crypto this year, here are 4 great options. As always, i've used all of these products to make sure they are up to scratch.
Coinbase – the best place to start
Coinbase is one of the largest seller of cryptocurrency. They have developed a good reputation for being trustworthy and easy to use. What I like most about Coinbase is that anyone can sign up and buy bitcoin. Most exchanges are too complex for the average person so Coinbase is doing a good job making crypto accessible to the masses.
On Coinbase you can invest in Bitcoin as well as other popular coins such as Ethereum, Litecoin, Ripple, Stellar and many more. They seem to be adding new coins every few months.
Getting fiat money into Coinbase is easy too. Depending on where you live you can deposit via Credit Card or Bank Transfer. You can also send coins into Coinbase if you want to sell them or exchange them for other cryptos.
Once you've got accustomed to buying cryptos through Coinbase, you can also use Coinbase Pro. And no, you don't need to be a pro to use it. It's a more advanced and feature rich exchange platform designed for experienced users. The one advantage is smaller fees. So it's definitely worth using if you're a big crypto buyer.
Tip: You should download Coinbase Wallet on your phone. This is a regular crypto wallet that lets you store coins securely on your own and is a seperate app to Coinbase. Although you can store coins in Coinbase's Cloud Wallet, I recommend keeping control of the coins yourself. The mobile coinbase wallet, which is just called “Wallet” is a good option for this and lets you control your keys. The coins are stored on your device and not accessible via the cloud.
Sign up for Coinbase here (you'll get a bonus $10).
eToro – Best for trading
If you're looking to make a lot of trades and potentially trade with leverage and utilize short positions, then eToro is a good platform for this.
eToro is a traditional trading platform. They have been around for many years offering forex and stock trading. They were one of the first big platforms to move into Crypto trading as well.
You can now trade all the major cryptos on eToro. You can open both long and short positions and even copy the trades made by more experienced traders. Depositing onto eToro is easy – they have a host of options including credit card, paypal, bank transfer and more.
They have just also launched a seperate exchange and mobile wallet for crypto as well called eToroX. While you can trade crypto on both platforms, you can deposit crypto on eToroX for trading against other cryptos and stablecoins.
Disclaimer: 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Coinbundle – Best for managed investing
Are you looking to invest in cryptocurrency buy don't want to work out what to buy and how much of each coin you should hold? Well Coinbundle is the best option for you. As the name suggests, Coinbundle bundles up a number of different coins into one investment.
For example the Conservative bundle has just Bitcoin and Ethereum, but you can also invest in Emerging Coins and The Top 20 among others. Coinbundle will automatically rebalance your portfolio to keep the ratios correct. Depositing is easy – you can use a credit card and the fees are quite low. And to withdraw you just link a bank account.
Tip: Use this link to get $5 free on Coinbundle when you invest $100. While not a lot, every little bit helps!
Binance – Best for Altcoins
While Bitcoin is king, there are literally thousands of other crypto coins. Some of them are very similar to Bitcoin while others are designed for completely different things. Investing in Altcoins can be super rewarding but it's also very risky.
If you are looking to invest in Altcoins, the best place to do it is through Binance. Binance has emerged over the past 12 months as a leading exchange. You can trade a huge variety of coins. I don't think Binance is a good option for beginners, but it also isn't super hard to use and more people can get to grips with the interface.
To trade on Binance you can either buy coins using a credit card directly on the site, or you can deposit any cryptocurrency and then use that to trade. I often buy Bitcoin through Coinbase and then said it to Binance to trade altcoins.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.