Investing in bitcoin - Finding a way to buy bitcoin in Canada

Bitcoin, the world's largest cryptocurrency, is seemingly everywhere these days. As an investment, its spectacular how there's a rising the curiosity of the non-initiated speculation of this cryptocurrency. In 2021 alone, Bitcoin's price has more than doubled. Here is a way to buy bitcoin in Canada.


The easiest way to bet on Bitcoin is, of course, to buy it. But there are many reasons you might not want to take such a direct route. Maybe you know nothing about Bitcoin and want to get involved but prefer the familiarity of more traditional kinds of investments. Or maybe you know a lot about Bitcoin and don't want to touch it, cautious about seemingly random price swings. Or you own Bitcoin already, and you're looking to invest more broadly in the future of cryptocurrencies. The good news is, there are more ways than ever for U.S. investors to gain exposure.

Here's a rundown of the alternatives:

ETFs

Usually, exchange-traded funds that track the price of Bitcoin have been available for a while in countries such as Canada. Importantly though, these exchange platforms help you invest in Bitcoin futures, which track Bitcoin's spot price indirectly through the use of contracts.

The ETF industry is also hoping to see a fund that actually holds Bitcoin - more than a dozen issuers are interested in launching the products - but reluctance from the SEC means this is likely a ways off.

Buying Traditional Stock in a Bitcoin-Related Company

Companies have structures that might be more familiar to the average investor, such as executive teams that make decisions and financial results that have to be disclosed. That's one reason some prefer this route to get indirect exposure to Bitcoin.

With companies that do things other than hold Bitcoin, you have to also evaluate their sector and individual product performance. The stocks' performance will be influenced by a range of factors that individual companies have to contend with, not just the price of Bitcoin.


Bitcoin gives control back to the people. In a traditional money system, only the government and people of great power get to control the supply and worth of money.

The fact that it’s a new asset class is also exciting. You’ll find that a lot of people buy bitcoin for investment purposes and as an alternative to hard assets like gold. If you had purchased bitcoin at the time of its launch, your return of investment would have been over 6,000% in 2020.

Bitcoin is also great for online payments because of the low fees and its ability to go across borders quickly.

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