Bitcoin is on the rise right now. But what about the other cryptocurrencies? In this article I will explain you how to invest in crypto currencies other than Bitcoin.
You have probably been hearing a lot about Bitcoin, Ethereum and Litecoin these days. These are the most hyped cryptocurrencies in our community at the moment. Most people have their eyes set on Bitcoin and Ethereum because of the huge gains they have made over the last year.
But as you can see in this chart, there are a lot more crypto currencies out there. It is hard for me to keep track of all of them.
Especially when it comes to investing in crypto currencies, I get a lot of questions about what the best way is to buy crypto related stocks.
People know that there are a few major companies that accept Bitcoin, but where can you buy stocks from smaller companies?
For example: Which cryptocurrency related stocks can you buy on a regular stock market exchange like Nasdaq or NYSE?
There are many ways to invest in cryptocurrency and blockchain technology.
For this blog post, I am going to cover the best ways on how to buy crypto currency related stocks.
These are not the only methods to invest in this space, but they represent the easiest and most accessible way to get involved without having to do a ton of research into a particular coin or token.
I know that the best ways to invest in cryptocurrency is to buy BTC and ETH. But what about the rest of the crypto market? What about coins like Ripple, IOTA, Cardano, Stellar Lumens, Bitcoin Cash, NEM, NEO?
I know that a lot of these coins are going up in value and I want to get exposure to them. But how do you do that? Should I buy each coin individually? Do they have stock symbols?
I guess I could use an exchange like Binance or Bittrex to buy some of these coins but even if I bought every crypto related stock out there it wouldn’t be enough for me. Is there another way to get exposure to these other altcoins?
So maybe buying individual altcoin stocks isn’t the best idea. There has to be another way. Well there is but it does require a little more work on our part. We’re going to need to make an investment that will give us exposure to all of the other cryptocurrencies out there.
There are more ways to invest in the crypto currency market and related stock than most people think. The crypto currency markets are still quite new and there is a huge discrepancy in valuations and product/service offerings between crypto projects. Additionally, there is much more to crypto than just bitcoin. There are thousands of other crypto currencies that have different use cases and technical implementations.
The best way to invest in the crypto currency market is directly by buying Bitcoin, Ethereum or Litecoin. However, it is good to diversify your portfolio with investments into other blockchain based services. This article will cover the top 5 other ways to invest in the crypto currency market without buying Bitcoin, Ethereum or Litecoin.
Grayscale Bitcoin Trust (GBTC)
The Grayscale Bitcoin Trust (GBTC) was launched as a traditional investment vehicle with shares titled in the investors name just like any stock or ETF share. The trust holds approximately 173,014 bitcoins which equates to roughly $700 million dollars worth of Bitcoins at today’s prices. GBTC trades on the OTC markets under the symbol GBTC and trades at roughly $6 per share right now giving it a valuation of around $3 billion dollars.
For More Information: Investopedia Article About Grayscale Bitcoin Trust
After the dot com bubble burst in 2000, many people lost a lot of their savings. The NASDAQ Composite Index fell from a high of 5,048.62 to a low of 1,139.90 (not adjusted for inflation) and took 15 years to recover (not adjusted for inflation).
The good news is that there are ways to invest in cryptocurrency related stocks that are not as risky as investing directly in cryptocurrency. Here are some examples:
Overstock.com Inc (NASDAQ: OSTK) – Overstock was one of the very first major companies to start accepting Bitcoin and other cryptocurrencies as payment, and it has been doing so since 2014. The company has a market cap at $1 billion and is one of the most well-known companies in the crypto space. Overstock’s CEO Patrick Byrne is also one of the biggest advocates for blockchain technology, and he has even been quoted as saying that “by 2025, we will live in a world where there will be no more stock exchanges or Wall Street.” If you want to learn more about Byrne’s vision for blockchain technology check out this interview with him on YouTube: Overstock CEO Patrick Byrne Talks Bitcoin And Blockchain
Square Inc (NYSE: SQ) – Square was one of the first major payment
If you’ve been looking to invest in crypto stocks, you are going to love this post.
The Crypto market has seen explosive growth over the last year.
While some believe that the best investment opportunity is investing directly in cryptocurrencies like Bitcoin, Ethereum or Litecoin (which I agree), there are many people out there that would rather invest in crypto stock.
If you are one of those people, then you will love this list of stocks.