Are you in the crypto world and still haven’t heard about the new buzzing term ETF? No worries—we have come up with the ins and outs of this new ETF method in crypto and what crypto guru Bitcoin Ben thinks about it.
Ben is all over the place, sharing his crypto wisdom! You can catch him on all the major social media channels, plus streaming services like Amazon Prime and Roku. He’s even a regular guest on cryptocurrency shows and even dives into some political discussions.
So, Ben’s take on this hot topic, ETF, is definitely worth reading. Let’s check out everything about Ben and his opinion on the new ETF—Exchange Traded Funds.
At First, Let’s Know about Bitcoin Ben
Benjamin Semchee, popularly known as ‘Bitcoin Ben’is a social media crypto influencer who helps people with cryptocurrencies. Basically, Ben is on a mission to make cryptocurrencies cool! This influencer and entrepreneur,
Ben is trying to simplify each phase of Bitcoin, Litecoin, and other digital coins. He wants to make this platform so that you can learn the ropes of this exciting new way of dealing with money and the tech behind it.
Simply put, Ben wants to break down the barriers and show you how to navigate this “decentralized shareable economy”. Apart from this, Ben has also done various live shows, standup comedy shows, and live streams on different social media channels such as YouTube, Facebook, and Rumble.
Let’s know when and how he came into this world and more about his life.
Bitcoin Ben’s LifeStory- From Truck Driver to Crypto Musketeer
Before becoming a crypto rockstar, Ben was a truck driver for a decade. But his life took a sharp turn in 2016 when he bought his first cryptocurrency. A video of him went viral later in 2017, and he got a massive following on Facebook, then Ben knew it was time to share his crypto knowledge with the world.
Since then, he has started doing more live videos sharing his ideas and thoughts regarding crypto. In 2019, he became a full-time crypto influencer, performing live shows and comedy shows on various social media channels.
In an interview with Fox2 News, Ben has said,
“We want to increase awareness and adoption of cryptocurrency, blockchain and related technology. We want to show the world the ‘New Rich Revolution.”
To maintain your privacy while trading, consider using an anonymous cryptocurrency exchange that ensures secure and private transactions without compromising your personal information.
Bitcoin Ben’s Crypto Club
On March 25, 2023, Ben hosted the grand opening of his very first cryptocurrency-focused networking & education club, named Bitcoin Ben’s Crypto Club, in Sarasota, Florida, United States.“Join,
Learn, Share, and Earn” is the motto of this club. It basically means you can bring your friends and relatives and get rewarded for each referral.
Plus, there’s something for everyone! They offer different membership levels, each giving you access to all the cool stuff they have going on. To celebrate their grand opening, they’re even letting everyone in for free! That’s right, a free chance to dip your toes in the crypto pool.
Ben, the founder and managing partner of the Bitcoin Ben Crypto Club, has built it mainly as a fun and friendly hangout where people can learn about this exciting new kind of economy.
In a word, Ben, through his crypto club, is trying to help businesses get the full potential of blockchain technology and make more money with Bitcoin and other cryptocurrencies.
However, if you come across the term ‘ben app bitcoin’, then let me tell you the club also features a mobile app where you can get all the access to your account, learning and sharing benefits.
Ben’s Thought on ETF & How Do Bitcoin ETFs Work?
In 2018, Business Cloud magazine declared him as the “world’s most unlikely cryptocurrency expert.” So, his opinion really matters to adapt this new technology in the blockchain world.
In simple words, Bitcoin ETFs are virtual baskets filled with Bitcoin. Envision can purchase a portion of this bundle via the stock market. In this manner, you may participate in Bitcoin without owning any of it.
A unique sort of investment connected to the digital currency known as Bitcoin is called an exchange-traded fund (ETF). They are simple to use and offer several astonishing advantages over Bitcoin. Ben, a specialist in cryptocurrencies, discusses the pros of Bitcoin.
There are different types of crypto ETFs. According to Investopedia,
“Crypto ETFs—a type of exchange-traded product—enable you to add crypto exposure to your investment portfolio. Like typical ETFs, they are traded on exchanges and held in traditional brokerage accounts.”
Some cryptocurrency ETFs, called spot Bitcoin ETFs, directly hold Bitcoin. The SEC approved the first of these in January 2024.
Investing usually involves buying the asset directly, which is fascinating. In contrast, Bitcoin ETFs allow you to purchase a portion of a group holding Bitcoins. This simplifies becoming involved in the Bitcoin community, even if you need clarification on virtual currency.
If you’re wondering about the current state of Ethereum and whether it’s still a viable investment, you should check out our latest analysis. Our detailed article delves into the question: Is Ethereum Dead?.
Bitcoin Ben Review for ETF Method
While hosting a TV program, Ben discussed this new investment method, Bitcoin ETFs. According to Ben, Bitcoin ETFs are unique in bridging the gap between traditional investment and the emerging digital currency space, such as Bitcoin. Because they facilitate the handling of digital currency, ordinary people may easily invest in Bitcoin.
So, how ETF can be beneficial according to Ben-
Simple Accessibility for New Investors
Trading Bitcoin ETFs is more accessible than trading the cryptocurrency directly. Digital wallets and the blockchain behind Bitcoin are optional. For those just starting out, it’s similar to purchasing average stocks.
More Secure against Theft
Because Bitcoin is an internet asset, hackers might steal it. However, investing in a Bitcoin ETF prevents you from possessing real Bitcoin, making it more difficult for hackers to take your money. This is significantly positive for many newbies.
Regulatory Impact
Since Bitcoin ETFs must follow specific government regulations, investors consider them more trustworthy. According to Coinbase Ben, this boosts investors’ confidence in Bitcoin ETFs.
Beneficial for Variety
It makes sense to invest in various markets, and Bitcoin ETFs allow you to achieve this. They bring something fresh to your usual mix of equities and bonds. Coinbase Ben suggests this might be beneficial to your entire investing strategy.
Easier with Taxes
Purchasing and selling Bitcoin might have complex tax implications. On the other hand, because people handle Bitcoin ETFs like stocks, it’s simpler. Your tax computation will be more straightforward as a result.
Bitcoin Ben Review Highlighting ETF Demerits
You can invest in Bitcoin using Bitcoin ETFs, but you don’t own any of it. Instead, you own a portion of a fund that tracks the price of Bitcoin. Coinbase Ben, an expert in cryptocurrencies, points out several drawbacks with these ETFs:
You Do Not Get Bitcoin
Investing in a Bitcoin ETF does not result in acquiring genuine Bitcoin. All you own is a stake in a fund that tracks the value of Bitcoin. This implies that you will miss out on some benefits of owning actual Bitcoin, like access to the Bitcoin community.
Possible Failure to Accurately Track Bitcoin’s Price
Though they may not always be accurate, these ETFs attempt to mirror the price of Bitcoin. We term this a tracking error. Coinbase Ben says this occurs for several reasons, including scheduling conflicts or the expense of managing the fund. As a result, the performance of the ETF may deviate from the price of Bitcoin.
Maintenance Costs
Investing in Bitcoin ETFs entails paying fees for administration and running the fund, among other things. These costs may negatively impact your investment’s profit margin. As Bitcoin Ben points out, these expenses don’t end when you purchase or sell actual Bitcoin—instead, they remain continuous.
Bitcoin Ben’s Overall Review on Bitcoin ETFs
The Coinbase Ben feels that, like a two-edged sword, Bitcoin ETFs offer advantages and disadvantages. They are secure from internet theft and simple for novices. They simplify purchasing, selling, and taxation, adhere to regulations, and provide various investment options. They are excellent for those looking to diversify their assets or are new to digital money.
Ben does, however, perceive certain drawbacks. Bitcoin ETFs do not give you ownership of Bitcoin. Rules that change, recurring expenses, and minor inaccuracies in pricing monitoring are the hazards. Ben tells friends’ tales concerning Bitcoin exchange-traded funds. While it was safe to obey the regulations, one could have done better to possess Bitcoin. Another person mentioned that they found the ETF easy to use but worried that fees might reduce their investment.
Ben’s views rely on his experiences and those of others in cryptocurrency. Bitcoin ETFs, he claims, make digital currency more accessible to the general public. However, he adds that it is vital to comprehend all aspects of these transactions, even the less favorable ones.
Wrapping Up
Bitcoin Ben, like always, says to do your homework before diving in. So, this applies to everyone, newbies and crypto veterans alike.
Ben sees both the bright and not-so-bright sides of Bitcoin ETFs. He likes that they could make Bitcoin more manageable for everyone to invest in and attract big investment firms. But he also worries they might make the market even bumpier.
Bitcoin ETF is bringing a bigger impact on trading, and thanks to Bitcoin Ben, we have a better idea of what’s coming. Stick around for more updates, and let’s keep learning about the wild world of blockchain!
For those looking to trade digital currencies, it’s crucial to choose the right platform. Check out our guide on the best cryptocurrency exchange in the UK to find the most reliable options available.
Frequently Asked Questions (FAQ)
Is Bitcoin mining still feasible for the average person?
Because mining Bitcoin requires a lot of computing power and electricity, it is no longer affordable for the ordinary individual. It’s a game now, played by well-known sportsmen with expensive gear.
Which cryptocurrency is most suitable for mass adoption?
Ethereum is the cryptocurrency best suited for widespread use. Security, scalability, transaction speed, and user-friendliness are some of the variables that will decide which cryptocurrency is most suited for broad adoption.
Is it safe to invest in bitcoins on the Bitcoin Profit website?
Any website, including Bitcoin Profit, where you may invest in Bitcoins, has some risk. We cannot guarantee safety. That’s why we need to research a lot and take caution. It would be beneficial if you constantly discussed investments with a financial advisor.
