Bitcoin’s recent price boom has spiked interest in crypto, hailing a new wave of adoption that creates a kind of snowball effect. The current bull run likely stems, at least in part, from the news that big tech firms are increasingly moving towards crypto. Facebook’s Libra announcement undoubtedly contributed to the price of BTC rising past $13k for the first time in 18 months. Apple announced the iPhone CryptoKit at the Worldwide Developers Conference in June, and Samsung has already integrated a crypto wallet into the Galaxy S10.
The fact that these flagship companies are nailing their blockchain colors to the mast and pushing up the value of crypto is also helping to attract an influx of newcomers to the space. A recent survey by HBUS, part of the Huobi exchange, showed that awareness of crypto has more than doubled since 2018. Even the uber-rich are getting in on the act — Bloomberg recently reported that billionaire investor and philanthropist Henry Kravis had made his first foray into cryptocurrency investing.
Fortunately for crypto newcomers, the options for entering the world of crypto are now far more diverse than they used to be. After all, even as late as 2017, the main entryway was to use Coinbase to buy one of the leading cryptos such as BTC or ETH. Anyone wanting to diversify their portfolio then had to send coins to a crypto-to-crypto exchange. Of course, Coinbase has now expanded its footprint into a broader range of altcoins. However, there are now also other avenues for getting into cryptocurrencies.
Depending on how you want to invest in crypto or blockchain, there are plenty of options to choose from. One way is an index fund for cryptocurrencies.