Broke But Want Bitcoin? 3 Emerging Ways to Invest in Crypto
It could be the best investment you make in 2021
Sorry, but the Bitcoin train has long left the station. Bitcoin is hitting record highs around $28,000 and isn’t showing any signs of slowing down. Even when the price pulls back it sits around the mid $20,000s.
So you’re either one of two people right now:
- You’re celebrating because you got in early
- You’re miserable because you fear it’s too late.
Hush that mouth of yours! It’s not too late.
I won’t spend too much time explaining why Bitcoin is booming right now — you can read this here — but I’ll give you a hint: It has something to do with the fact that 35% of all U.S. dollars ever created were printed in the last 10 months.
So, on that note, here are three alternatives to invest in the currency that some predict could one day overtake the dollar.
1. Invest in Crypto Mining Groups
I invested $1000 dollars earlier this week in crypto mining group Riot Blockchain (RIOT). Today I’m sitting $300 richer and that growth likely won’t stop as long as Bitcoin keeps surging.
Think of Bitcoin mining like solving a Rubix cube. After you solve the cube — which in reality is a complex math equation that requires tremendous processing power — the cube releases a prize.
That prize is Bitcoin.
The more times the cube is solved, the more complicated it gets. And the more complicated it gets the rarer Bitcoin becomes. People then pool their resources to solve the puzzle together — and thus mining groups are born!
It’s game theory in a nutshell. Granted, this is a gross simplification of the process.
I invest in Riot Blockchain which gained over 1250% in 2020 and Marathon Patent Group (MARA) which grew 1333%.
2. Freelance For Bitcoin
This year the first NFL player claimed to be paid in Bitcoin. It was sort of true — he isn’t being paid in Bitcoin per se, but he does plan to convert some of his paychecks into crypto.
Good for him.
Lucky for us, we can actually be paid in Bitcoin.
Cryptogrind is the leading website in connecting freelancers with Bitcoin paying employers. I haven’t used it yet, but you can find some insanely lucrative positions on it.
Job options are sparse, however, but you could land a big opportunity if you can graphic design, code, or video edit.
I’ve also explored Upwork which is much more prolific in their Bitcoin paying job postings. I’ll definitely be pursuing more positions like this on Upwork in 2021.
Keep in mind, this is just the start of practices like this, and I’d guess that employers who pay in Bitcoin are very progressive people to work for. Also, I’d much rather take any amount of Bitcoin over crypto at this point.
3. Buy Fractional Shares
Buying crypto has never been easier in 2021.
You can invest in cryptocurrencies through PayPal, Cash App, Robinhood, Webull, Coinbase, and so many other investing platforms today.
Some people would recommend against investing in crypto on platforms like PayPal or Robinhood because Coinbase offers more features like an exchange and digital wallet all in one.
However, the easier, simpler option is still there for many who are just learning about crypto. Maybe you could introduce your friend or relative to the concept of Bitcoin. Or just own some with your freelance earnings on PayPal.
Even if you only have $5 to your name, you can still invest in Bitcoin on any of these platforms. And quite honestly I’d recommend it with the way the U.S. economy is heading.
You could also look into other cryptocurrencies like Ethereum, Litecoin or XR… you know what, just look into those first two. (Read more about the XRP fail)
This is not legalized financial advice. Invest in Bitcoin at you’re own discretion and I thank you for checking out this article. Read more on Yard Couch.