Cryptocurrency trading isn’t for everyone.
In fact, there are a good deal of traders that shy away from it.
After all, not only can cryptocurrencies be difficult to understand, the volatility is unnerving. Then again, what if I told you there was a safer way to trade the direction of cryptos, like Bitcoin, without ever trading actual Bitcoin?
There are actually two ways to do just that.
| 10-Minute Trader [One Easy Option Trade] |
All you need are two exchange-traded funds (ETFs), including BITO and BITI.
Company: The ProShares Bitcoin Strategy ETF (BITO)
When Bitcoin pushes aggressively higher, we can look at the Pro Shares Bitcoin Strategy ETF (BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.
BITO is mimicking the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO is that investors don’t need to deal with cryptocurrency wallets and private keys but can instead invest through a broker they already use.”
| Here’s Why Bitcoin Could Rise to $165,000 Starting Exactly On April 22, 2024. |
Company: The ProShares Short Bitcoin (BITI)
Or, if you believe Bitcoin will drop in price as it has been doing, or if you want to hedge a long bet, there’s also the ProShares Short Bitcoin (BITI). This one follows the S&P CME Bitcoin Futures Index, with profitability computed daily (before fees and expenses) as the inverse (-1x) of the index’s daily performance. BITI has an expense ratio of 0.97%.
How I lost $65k trading like a rookie Hi, I’m Sami Abusaad, I started trading at the bottom of the tech bubble burst in 2003. With $15K cobbled together…I began trading stocks on the side. Within a year…I had turned $15K into $50K. I thought I was king. By 2007, I was down $-15K! Why? I got lucky buying at the bottom, rode the market up, but instead of selling and waiting for the next bottom…I kept buying into the Great Recession. As much as I acted like a rookie doing that…ironically, this very pattern is what I use DAILY to successfully swing trade stocks under $10. Learn more HERE. |
