@scottcbusiness
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What’s The Best Way To Invest In Crypto?
The 3 mainstream ways to invest in crypto are: directly, via an exchange or payment processor that holds it for you, or via the stock market through an ETF or trust. Let’s go through the pros and cons of each! https://lbry.tv/@ScottCBusiness:4/Crypto-Investing-Methods:c **Direct Crypto Investing** · Is the safest given you also withdraw your crypto, · Incurs the most fees and your gains will be fully taxed · You can trade anytime and buy any amount · If you withdraw to a wallet and follow all good practices, this will be more challenging and require more responsibility, but will be more rewarding · Can be done as easily as other methods if good practices aren’t followed – ease of use is a choice **Fiat Stock Exchange Or Payment Processor (Paypal or Wealthsimple)** · You will be taxed fully · Little to no security and lack of insurance · You also lack the freedom to use your cryptocurrency as you wish. · You can trade anytime and buy any amount · It’s the easiest to do · It’s the most unsafe way to trade with the least benefits **Crypto Stock Investing** · Investing in a crypto ETF or trust gives you direct exposure to crypto, but can be done within a retirement account or a tax-free savings account to avoid taxation and fees while still having insurance over your stocks · This is the safest way to trade · You can only trade during stock trading hours and can only buy whole stocks depending on what country you live in and the exchange you use (in Canada, you cannot). · Note that I personally feel an ETF is much more reliable than a trust and would opt into investing in a Bitcoin ETF over a Bitcoin trust for example You can also trade peer to peer and many other ways, but this is really only meant to cover what new crypto investors and beginners would actually get into. That’s also somewhat covered in the direct crypto investing method. Did I miss anything? How do you like to invest in cryptocurrency? What’s your favorite exchanges to use? Let me know what you think about this in the comments below and don’t forget to subscribe! This is a LBRY first video meaning it shows up on LBRY before it gets published anywhere else. If you’re not on LBRY, sign up and get started here: https://odysee.com/$/invite/@ScottCBusiness:4 Check this video out on LBRY to support me with monetization and no ads: https://odysee.com/@ScottCBusiness:4/Crypto-Investing-Methods:c ***Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated***
9 comments
Hello, my friend, I am impressed with how many places you are. Creating content demands a lot of energy, and doing it well in a didactic way with value for viewers and readers, a challenge. Thanks. I have learned a lot from your videos, although to be honest, not being an English speaker, the reading format is my favorite.
That's why unlike most creators, I include a blog with every post
> That's why unlike most creators, I include a blog with every post It is a wise form of action when the audience is global. Keep up the great work.
Dear @Scot,there should be complete info about the sites for investing.Because it was risky for me as a trader And I lost my token on Bitcoin.Exchange as there was limit of 10$ or more withdraw that I can't afford to exchange my crypto.So I expect next time you would give the detail of each site on your video and here as well..Thank you💚
Like I said, I will do a video that goes through different exchanges etc. That's too much information for one video. Bitcoin.Exchange seems like a random one I've never heard of, but also almost all exchanges have minimum withdrawals
Thank you my dear.I shall wait. You are right but I have no idea about Crypto limit.
I'm getting a lot of ideas about cryptos and exchanger because of this article, sir. I am happy to read this. :)
I've just joined in this platform a week ago. And had not enough knowledge this Crypto things, so I really find time to read one your articles about it. So it happens that this article of yours, given me some new knowledge the world of Crypto. Thanks a lot.😁
Right now I personally only use Coinbase, aside from the separate wallet I use here on read, and it seems to be useful enough and safe enough that I don't currently see a reason to do it any other way. That could change, of course. BTW, heard you mentioned "music royalties" on another post. Any links? Spotify...YouTube?