Easy methods to purchase Bitcoin ETF — the most secure solution to dabble in crypto
Observe: This isn’t monetary recommendation. That is for academic functions solely. Bitcoin ETFs are dangerous; solely make investments what you’ll be able to afford to lose.
“Easy methods to purchase Bitcoin ETF” is likely one of the hottest search queries on Google as new and established buyers develop an curiosity in Bitcoin-linked exchange-traded funds. So what, precisely, is an ETF? In layman’s phrases, it is a basket of securities (e.g. shares) that may be purchased or offered on a inventory alternate like Robinhood. As such, a Bitcoin ETF is a hodgepodge of Bitcoin-focused belongings.
For instance, as a substitute of shopping for Apple shares, you should buy a tech ETF with publicity to many shares of Apple’s ilk, together with Microsoft, Google, Samsung, Fb and extra. That is advantageous as a result of if Apple tanks, better-performing tech shares offset the loss.
In the identical method, Bitcoin ETFs could also be extra interesting than shopping for Bitcoin itself as a result of buying a basket of Bitcoin-linked securities minimizes threat. Nonetheless, it is vital to notice that Bitcoin ETFs nonetheless have securities inside the identical class (i.e. cryptocurrency). Bitcoin ETFs have a melange of various holdings, but when the crypto market plummets, there’s an opportunity Bitcoin ETFs will comply with.
Easy methods to purchase a Bitcoin ETF
A Bitcoin ETF that’s presently out there for buy is the ProShares Bitcoin Technique ETF, which is buying and selling beneath the BITO ticker image. One other Bitcoin ETF to be careful for is BTF (out there on Oct. 22). You should purchase BITO on the Robinhood app now. This is how you can get began.
1. Obtain the Robinhood app and undergo the onboarding course of.
2. Subsequent, you will must fund your Robinhood account. Click on on the pockets icon on the underside taskbar (it is between the chart and magnifying glass icons).
3. Faucet on Deposit Funds. If that is your first time, you will be prompted to pick your financial institution and enter your credentials (on-line banking username and password). This data is critical in order that Robinhood can hyperlink your financial institution to the app. You may additionally must confirm your identification by inputting a code despatched to your telephone quantity.
4. After deciding on which account you wish to be linked to the Robinhood app (e.g. checking), a window ought to pop up saying, “Success! Account is linked.”
5. Click on on the pockets icon once more and deposit how a lot cash you are prepared to put money into the Bitcoin ETF.
6. After inputting your required quantity, click on on Evaluation adopted by Submit. Now that your account is funded, let’s get that Bitcoin ETF!
7. Faucet on the magnifying glass icon and sort in BITO into the search bar. Click on on ProShares Bitcoin Technique ETF.
8. Faucet on Purchase. Enter the variety of shares you should buy in response to your out there funds. BITO is buying and selling at round $40 as of this writing, so for those who funded your Robinhood account with $500, you should buy a most of 12 shares.
9. Faucet on Evaluation, swipe as much as submit and, voila, you now have your first Bitcoin ETF
Not like the cryptocurrency market, which is open 24/7, it is best to make purchases when the inventory market is open (Mon – Fri, 9:30am ET – 4pm ET).
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