Do You Understand Bitcoin?

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Bitcoin Cash, BCH

Are you confused by bitcoin, still? Not too many people now, are asking, “What is bitcoin” as much as they are asking how to get involved with it. Bitcoin is getting much easier to understand and now there are firms basically setting up their own “mutual fund” style offerings for investors. Crypto CopyFund is one of these firms.

The investment vehicle is offering access to some of the world’s biggest digital currencies in a single portfolio. Investors are able to make or lose money with the rise and decline in value of myriad digital currencies in a way that someone would invest in a stock portfolio.

Investors wouldn’t need to go anywhere near an exchange to invest in more of this “fund-style” option. They would not need to really understand blockchain technology nor would they have to know about mining and what that means.

There’s no reason to know what forks or hard forks are and there would be little need for them to be able to decipher between each digital currency or why one is better or worse than another. Realistically, all they would need to do is know where to send money and remember something about how bitcoin is reaching new highs each month.

Etoro is a company that can allow this as well. But it is not the only company making the efforts to offer a one-stop-shop for exposure to cryptocurrency. U.K.-based firm Hargreaves Lansdown is also offering something similar where they issue exchange traded notes that follow the performance of bitcoin, for instance. XBT Provider is the issuer of the notes and explains how exciting of a time this is.

In the end, cryptocurrencies are an asset class and though they are not linked to anything physical, they do offer some kind of store of value based on what the market dictates. During times of meteoric rise that is being seen now, investment firms have quickly been trying to capitalize on the investment opportunity as quickly as possible.

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