Investing in Bitcoin can be a hairy and stressful experience. So I’m going to go through the different ways you can invest in Bitcoin or Cryptocurrency. Firstly the simple way – buy Bitcoin and hold it in a wallet. NEVER use an online wallet to hold Bitcoin.
Buy and Hold
Firstly the simple way – buy Bitcoin and hold it in a wallet. NEVER use an online wallet to hold Bitcoin.
Always hold it in an offline wallet and make sure it’s backed up and you have the latest Anti-Virus and other protections – even store your wallet on a USB key wallet (but BACK IT UP).
Remember you only really need a 15 word passphrase to get into a Bitcoin wallet.
Using a Broker
You can use a Forex Broker to trade Bitcoin but this is a bit of a different way of doing this as you will create leverage and you could lose all your Bitcoin just by leaving the trade in too long or if you buy at the wrong price.
However brokers will provide you with the brilliant MetaTrader 4 or 5 charting software.
My favourite broker at the moment is InstaForex. This type of trading allows you also to use indicators to show you the direction of the Market.
Investing in Mining
I generally steer clear of this now although I have used Genesis Mining in the past I think the returns are far less than if you just hold crypto.
Many of the so-called mining sites especially those with higher returns are scams and although they pay out initially you never get your money back let alone make any profit. Probably because they are not actually mining.