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Buy Bitcoin Stock (Invest, Stock Symbol, Price, Stocks and Shares)

Buy Bitcoin Stock

Buy Bitcoin Stock

If you’ve been investing for any amount of time, you’ve probably heard of Bitcoins. Heck, if you’ve been watching the news or using the internet for any amount of time, you’ve heard of the currency. So you may be interested in learning about bitcoin stock.

What exactly is Bitcoin, and how can you invest in it? Let’s take a look at a few Bitcoin basics.

Is Bitcoin on the Stock Market?

To begin, we’ll answer a simpler question – what is Bitcoin? Bitcoin is a currency which was created in 2009 by someone (or a group) who used the alias Satoshi Nakamoto. It’s a form of currency that can be used to buy products and services on the internet.

Using Bitcoins to buy everything from physical merchandise to cloud computing services has certain appeal. First, those who use Bitcoins can remain anonymous. Had your eye on a really fast router but don’t want to tell your wife? Newegg accepts Bitcoin. Cheating on your Weight Watchers plan and want to keep it a secret? Even Subway accepts Bitcoin as currency.

But all joking aside, the biggest benefit to using bitcoins as currency is that it’s not subject to any regulation. It’s an international currency, and instead of setting up a traditional bank account, bitcoins are held in a user’s “wallet.” Consumers and business alike like to use bitcoin because it’s a fee-free and unregulated way to initiate transactions.

So is bitcoin on the stock market? Yes and no. Bitcoin is considered by most regulators to be both a currency and a commodity. It’s like a cross between dollar bills and gold, in that it can be used to purchase goods and that it is created via mining.

But the SEC has continually shot down attempts to trade Bitcoin as an ETF, citing both its lack of regulation and its volatility. Most recently, in March of 2017, the Securities and Exchange commission denied the attempt.

Bitcoin Stock Symbol

Bitcoin Stock Symbol

The most common way that you’ll see bitcoin listed on exchanges is BTC. Any broker which deals in Forex will likely also deal in BTC. You may also see it listed as XBT. Bitcoin is a hugely volatile commodity (or currency), and some brokers will refuse to have any part of it. Be sure that you check with your broker before you sign up for an account.

How to Invest in Bitcoin Stock

Even though you can’t find Bitcoin listed as a stock right now, there are certainly other ways to invest in bitcoin. The most popular way to do this is through use of an app called Coinbase. It acts sort of like a Bitcoin bank account, and is used for buying, selling and storing Bitcoin.

Interestingly, there are ATMs which also allow investors to purchase Bitcoins. These are called Bitcoin Depot, and they’re available in Alabama, Florida, Georgia, Massachusetts, Tennessee, and Texas. Investors deposit cash, scan a QR code, and are the proud owners of bitcoin currency.

How to Buy Stocks With Bitcoin

Technically speaking, if you can find a broker which will accept bitcoin, you can buy stocks using bitcoin. But to date, we’ve not heard of any brokerages which will do that. Frankly, it’s just too risky for the brokerage.

If you already have Bitcoin and would like to buy stock, consider converting your Bitcoin to United States dollars or another more widely accepted currency, and use the proceeds to open your account.

Bitcoin Stock Price

Bitcoin Stock Price
Bitcoin is insanely volatile. In fact, it’s 10 times more volatile that the US dollar. There are a few reasons for this. First, Bitcoin value is frequently impacted by external factors. WannaCrypt, for example, recently had Bitcoin holders in a panic because the currency is so intimately connected with technology and security breaches.

Bitcoin value is also a frequent victim of bad publicity. This can take the form of news releases, or just rumors of regulation or other changes to the currency. The Bitcoin currency has also been frequently used for drug transactions and other illegal activity, and thus has a slightly marred reputation.

Finally, Bitcoin is just plain hard to trade. It’s not a popularly exchanged currency, so if an investor is holding a large sum of Bitcoin, there’s not any viable means of liquidating it. Bitcoin holds little option value for investors.

Again, there’s no real Bitcoin stock. But if you’re looking for a rough idea of how valuable the currency is, at the time of this article 1 BTC was equal in value to about 2,566 USD.

Bitcoin Stock Market/Exchange

If you’re looking for a type of a bitcoin stock market, you’ll probably have use for a platform like Coinbase. Coinbase is, as mentioned, an app that investors download to their mobile or other device, and it acts as a wallet for bitcoin.

Within the app, investors can buy and sell Bitcoin, as well as initiate purchases with merchants which accept the currency. Also within the app, users can track the current value of the bitcoin they own, as well as have access to Bitcoin price history and Bitcoin price alerts. In a manner of speaking, Coinbase is like a centralized portfolio for your bitcoin investments.

There are other wallet apps available. Paxful is one example, and Blockchain is another. Be sure that whichever application you choose allows you to both buy and sell bitcoin. Some will only act as a wallet for storage of your money.

Best Bitcoin Stock

Even though it’s not possible to buy Bitcoin stock, you can indirectly do so by investing in other ways. The best Bitcoin stock options are well known companies which have backed, even invested in, Bitcoin.

Goldman Sachs (NYSE:GS) is one of these companies. In 2015, Goldman Sachs partnered with a Chinese firm to create a Bitcoin startup, Circle Internet Financial. Via this investment, Goldman Sachs aimed to capitalize on the technology used to initiate bitcoin transactions.

Investors may also choose to invest in companies who are among the first to accept Bitcoin as currency. Microsoft (NASDAQ:MSFT) is one of these companies, as do Overstock.com (NASDAQ:OSTK), Expedia (NASDAQ:EXPE) and Dish Network (NASDAQ:DISH).

Bitcoin has seen prices of over $3,000 and as low as $250 in just a short time. Some analysts forecast that bitcoin will see a $100,000 price in just 10 years. If you’re game for a very risky investment, bitcoin may be a good choice for you.