You may be thinking of investing in cryptocurrency, but side by side, you are always a bit scared about the risks and losses one has to face after investing. But you will not have to be worried about it anymore. There are plenty of other ways to dip your toe into crypto marketing by using traditional investment techniques such as mutual funds, stocks, ETFs, etc.
Initially, when the person purchases the cryptocurrencies, they must download the unique cryptocurrency software and save the keys. Most importantly, they need to save the passcode on the computer. And, of course, you cannot forget about its risks.
However, there are other ways, too like this website through which you can invest in cryptocurrency indirectly without actually purchasing it, which even reduces the risks. So, let’s dig a little more about indirect cryptocurrency and the remarkable ways one can invest money.
What do you mean by Indirect Crypto?
Sometimes, people are not just interested in opening a crypto exchange or buying cryptocurrencies because they think they are out of luck. No one can argue with that fact, which is why, for those people, indirect crypto investment takes place in which they can invest in cryptocurrency indirectly and will gain exposure to it also, but they will not be buying it.
However, there are a few merits and demerits which you have to consider, including the security, fees, and risk of losses.
Ways to invest in cryptocurrency without actually buying it
Here are some fantastic ways to invest your money in crypto without actually buying it.
Blockchain stocks are one of the ways through which you can hold cryptocurrency assets. Coinbase, one of the crypto exchanges you can find, allows investors to buy stocks. When you purchase the stocks from the crypto platform, you may invest in crypto, and every gain will be reflected in your investment.
You may not own any cryptocurrency, but whatever happens in the market will affect your investment, and that change can be positive or negative.
Future ETFs (Exchange Trust Funds)
The one way to invest your money in crypto is ETF, an Exchange Trust Fund, an entirely different type of entity you can find. If you know how this future trading works, you can trade futures without buying the underlying asset, such as gold.
In this, you will enter the contacts of buying or selling the assets in the future at a price set already, irrespective of the trading price of the time when the trade will be executed. It works the same way, but in this, the underlying assets on which you will make the contract will be cryptocurrencies such as Ethereum, Bitcoin, and others.
Credit Card Rewards
People can even get their hands on cryptocurrencies by using credit cards with cashback rewards. If you use these cards, you can get many benefits from the cashback. There are a plethora of credit cards out there that offer you rewards when you make payments on any crypto site.
You may not get the rewards directly but can choose the crypto as an option where you can redeem the cashback rewards. These rewards may be small, but if you keep gathering them, they will add up quickly, and you can have a substantial crypto portfolio in no time.
If you still have a few years until retirement, consider incorporating crypto into the 401K. It is the option that is available for people who want to invest their money in the long-term as their savings for their retirement.
You can choose the crypto IRA similar to the 401k; you will not require your employer’s permission. You can swap your 401k account into the IRA and then use it to invest in the cryptocurrency you want.
If all the above options are impractical, then crypto mining is the only option left. It can be very demanding, but mining Bitcoin has become much more complicated. To do the mining, the person needs an advanced mining computer known as ASIC so they can see mine successfully.
Some people can even do things on a laptop computer. If you are not buying the assets instead of the role of the miner, then they may get some rewards for that.
The Final Words
These are the best ways to invest money in cryptocurrency without buying it. The person can choose the method that suits them and works best for them.