How to buy bitcoin without buying bitcoin

Some of my family and friends have been complaining about the involved process in buying cryptocurrencies. From finding a custodian that supports their local currency, depositing fiat, buying a crypto, transferring to a hardware wallet, and to keeping their private keys safe. Who said engineers understood UX?

From a user experience perspective it's a failure in the most basic form. As a crypto community, we ought to learn to become a little more education focused rather than yell 'boomer' in their face and run away.

If you came here because your 16-year-old niece made more on their investments in crypto than you did from your entire 401k savings plan since its inception, then you are not alone.

Here is a list of alternative methods to building a position in cryptocurrencies without necessarily owning crypto.

TSX:HUT

TSX: GLXY

TSX: QBTC

TSX: QETH

OTC:GBTC

NASDAQ:MSTR

AMEX:ARKK

TSX:BITC.U

TSX:BTCC.B

Some thoughts

I am more than certain that by 2022, banks, funds and money managers will continue to add and increase their allocations into Bitcoin and other cryptocurrencies – they will have to. I would go as far as say that many investors will fire their managers if they refuse to create a position into crypto for them.

Not investment advice

Please do your own research, this is not investment advice.

Ownership

You must remember, if you don't hold the keys, they are not your coins. Keep this in mind because if you invest with any of these companies, they custody your crypto. Which means they hold the private keys and you basically have to trust that they are handling security properly. In most cases this is completely fine but companies can get hacked (so can you). If you do not want this, buy your own crypto.