Are you looking to get started investing in Bitcoin? While Bitcoin can seem a little complex to get your head around at first, the good news is that it's easier than ever to buy bitcoin. In fact it's now easier and faster to buy bitcoin than it is to buy stocks.
Bitcoin has a huge potential upside. It may be volatile, but if you can afford to, adding just a small investment in Bitcoin could pay off big time in the future. Here are 3 easy ways to get started as a beginner investing in bitcoin.
In my opinion the easiest way to buy bitcoin and other cryptocurrencies is through Coinbase. Coinbase is the largest seller of cryptocurrency in the world. They have a very easy to use interface and have built a good reputation over the last few years. Coinbase is one of the few crypto companies that I really trust and am confident in using.
On Coinbase you can buy crypto using a credit card or bank account. And most purchases are instant. This means you don't need to worry about the price changing while waiting for funds to be deposited in your account.
As well as Bitcoin you can also invest in a few of the other popular cryptocurrencies including Ethereum and Litecoin. Coinbase has also just introduced a new feature where you can exchange cryptocurrencies from one to another. For example, changing Bitcoin into Ethereum.
Coinbase offers cloud wallet – this is great for storing smaller amounts of cryptocurrency, however I always recommend storing large amounts of bitcoin in your own hardware. But for most people, who just want to dabble in Bitcoin, the cloud based wallet will suffice.
The reason why I recommend eToro for beginners is that they make trading really simple. You don't need to worry about wallets and bitcoin addresses. All you need to do is buy and sell. eToro also has a unique copy trading feature. This lets you copy the trades of more experienced traders. So if you're looking to trade Bitcoin and not just HODL, then this is a great option. Trying to time trades yourself is really difficult, so it's best to leave it up to the experts.
On eToro you can buy Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Cardano and more. What I like about eToro is you can trade these cryptocurrencies alongside traditional assets like stocks and forex. On eToro you can fund your account using PayPal, Credit Card or your bank account so it's really easy to go from fiat into crypto.
Coinbundle bundles up a number of different cryptocurrencies into the one investment. It makes it really easy to invest across all different cryptocurrencies without having to pick which ones to invest in.
Coinbundle is a bit like a fund, but for cryptos. You can currently choose to invest in 6 different funds that are made up of different types of coins. One fund contains the big coins – Bitcoin and Ethereum. Another has Emerging coins that could be big in the future.
Coinbundle is a really good choice if want to invest in a broad range of cryptos but don't want to worry about having to pick and choose. Instead you're letting the crypto experts at Coinbundle put together quality portfolios.
You can invest on Coinbundle using a credit card. I found the process to be super simple. I was able to buy into a portfolio within a matter of minutes. You can sell your stake at any time and cash out to a bank account.
Coinbundle is working on features to allow anyone to create crypto portfolios. This could be really interesting.
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.