Do you want to invest in the BITO ETF but don't know how? but also where to buy it?
Today I have a detailed step-by-step guide for you on how to invest in the BITO ETF and get dividends as well.
Let's start with the basics.
Table of Contents
What is BITO ETF?
The BITO ETF, with a name ProShares Bitcoin Strategy ETF, is the first ETF approved in the United States that aims to mirror its performance Bitcoin.
However instead of investing directly in Bitcoin, you can invest in BITO (Bitcoin futures contracts). This means that the price of BITO is affected by the price of Bitcoin futures, which may differ from the actual price of Bitcoin.
Advantages of BITO:
- First US Bitcoin Future ETF: BITO offers investors an easy and adjustable exposure to Bitcoin.
- Transparent transactions: ETFs are well-known exchange-traded investment vehicles, offering investors familiar trading processes.
- Purchase from stock exchange: BITO can be bought and sold through a traditional account (Broker) for example on freedom24, eliminating the need for a cryptocurrency account or wallet that many investors find confusing.
How to buy the BITO ETF
To buy the ETF you need to find a trading platform, after a lot of research one of the best trading platforms is Freedom 24 and you can get a free share from $7 up to $700 if you are over 25 years old.
However if you want to know more information we have written detailed review on Freedom24.
Registration & Deposit
Then after you have completed your registration and certification you will have to deposit the money you want to invest.
You will press the category Add money and you will choose the money you want to deposit and you will choose the payment method.
But if you want, it also has the option of Bank transfer where you can make a bank deposit which has much less Fee, however the money will appear within 2 to 3 days.
Buy BITO ETF
To buy the ETF what you need to do is go to the category trade and in the search you will write it BITO, and you will press on BITO ProShares Bitcoin Strategy ETF.
and you can press Open a session and make the BITO purchase easy and fast.
Technical analysis at BITO
In general BITO as we said before you rely on bitcoin if Bitcoin goes up BITO will go up too.
Now the basic analysis we have and the levels we would like to buy the ETF would be at $25,89 and $19,12 with a distant DCA.
However, the main goal at the moment for the BITO is the month to close over the $28,66, from there I would look for higher prices.
LIABILITY DISCLAIMER:
Cryptocurrency trading is VERY risky. Make sure you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your money
Affiliate Disclaimer:
The above links to the services mentioned may be affiliate links. If you use the service through them then you help the BitsounisProject to continue to exist, at no extra cost to you.
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