Topic: Why can't I buy stocks with Bitcoin anywhere?! - page 2. (Read 662 times)

I think Cameron Winkelvoss (The Twins) wanted to do something like this with their Gemini Exchange. In December 2017, Gemini partnered with the CBOE which launched the first-ever cash-settled bitcoin futures contract whose prices are based on Gemini's auction price for bitcoin, denominated in U.S. dollars. Source : https://www.investopedia.com/tech/gemini-winklevoss-bitcoin-exchange/

I also saw this article last year, https://bitcoinist.com/bitcoin-buy-stocks-150-countries-abra/  - I think this is for US citizens only, so just check on the site. https://www.abra.com/

The thing is, these organizations are very regulated, so your anonymity will go out the door, the moment you register for these services. We pride ourselves for the pseudo-anonymity of this technology, but we destroy it by signing up for over regulated services linked to the Fiat system. 

It should be accepted by many countries and then the transfer of bitcoin to Fiat is very easy and efficient. So you can buy the stock with the exchange of bitcoin. I had another idea for you. You can exchange your holding bitcoin at the peak market to your own fiat and then further you can buy assets with that fiat itself. The process which I had shared will be seems lengthier ,but now we have no other option. You may use the cryptocurrency to buy stocks may be in future .

Historically it would be a step into circles we walked before, dollar of course used to be gold in exchange on demand not domestically but effectively it was that the world wide.   Still that legacy lives on despite not being true over 40 years, thats how we got right here.     A return to assets, commodities in reserve even crypto rather then FIAT seems possible however the hard liners will say BTC is FIAT hence we have a battle ahead and a long road.

Because no such project has been done yet. Moreover since crypto are not completely legalized we might not see something like that soon. However if @o_e_l_e_o is correct then you should check those sites out and see if they suit you. May vary depending on which country you are in and depending on what stock you actually want to buy since it will be listed on separate exchanges.

Point is that you are not the first person to think of this, I am sure someone has thought the same and hit a wall trying to develop a project in similar objectives. Quite possibly the failed in my assumption.

But you can sell your bitcoins for fiat and use that to pay your broker. But it is thus the long route and not the streamlined one.

Actually it depends on the broker and in which country we will buy stocks. Because in some countries bitcoin is considered illegal,
therefore rarely can we buy stocks with bitcoin. But there are some websites that accept the purchase of stocks with bitcoin, you
just need to a little diligent just search on the internet. Even in my country there are several brokers that accept payments with
bitcoin.

It is good that you can't buy stocks with bitcoin. For two main reasons to me, one makes sense to everyone I suppose and one is just pure morony by me. The one that is accepted by many people is the fact that bitcoin could not be traced that well, you can't just buy stocks from a company and be anonymous, you need to come out and that requires KYC, when you get that formal and that legal, you might as well use dollars to buy it as well.

Moreover, there are legal reasons why some people can't buy stocks as well, like being from another country means you need to first get clearance on buying it which takes time. All in all legally speaking it is not that easy to buy stocks with bitcoin, doable but very hard. The silly reason is that I do not want more bitcoin money to go to stocks, I already hate stock market as it is, might as well stay away from bitcoin itself.

If the state (government) accepted cryptocurrency, then I think that there would be no problem buying shares for cryptocurrencies. Once this happens, the cost of bitcoin will increase at times, most likely

US Companies priced at USD has nothing to do with them not being able to accept Bitcoin as a payment it is more related to stock brokers not accepting Bitcoin for their clients to be able to do so. Traditional stock brokerage services often accept traditional payments such as direct cash payments or via bank deposits, it has been in that way for a long time now and I don't think they will accept anymore new methods anytime soon. But like what others have said online brokerage services like eToro has the option to accept Bitcoin as payment. @OP if you don't mind putting in an extra added step for your BTC payments I would suggest you having a custodial wallet where you can liquidate your BTC via bank deposit, the money you receive can be use to fund your account.

Then what is the point of converting the bitcoins to a local currency, the OP is asking for a direct way of investing in stocks with bitcoins.
I believe this to be a KYC issue as the user has to provide many national documents and have to pass many checks for opening a DMAT account and also the legibility of bitcoins as currently bitcoins are in a grey area and many companies aren't accepting bitcoins as a mode of payment for their services just because of the government not legalizing the cryptocurrency sector as a whole.

It's actually very simple. Because the price of each of these stocks are denominated in fiat currency. For example, the Apple stock (AAPL) is listed in NASDAQ exchange. Now we know that all the shares that are listed in NASDAQ are priced in US Dollar. There are crypto stock exchanges such as BitFunder, where you can purchase stocks for Bitcoin or other cryptocurrency.

Unfortunately if you do want to buy stocks with Bitcoins right now , you have to first convert them in the local currency and then proceeded with buying stocks normally like you do with money .

Problem is :

1. Government and companies see Bitcoins as a Competition and therefore allowing people to trade in Bitcoins regarding the stocks wouldn't be profitable for them.

2. Bitcoins is in no way related to fiat , bank accounts in many countries ban buying and selling of cryptocurrencies , conversion of Bitcoins does take time and at the same time the softwares right now are not equipped to handle this simple task , no one is interested in making them .

This is undoubtedly easy , but it does involve added risks. There will be concerns regarding the privacy.

The fee will double and at the same time it would take a lot of time (time is gold in the stock market) . Plus people who are interested in stock market and people who are interested in Bitcoins , it might seem the same but they are on two opposite poles .

3. It is much easier to actually just buy stocks and Bitcoins separately without hampering your privacy

Maybe in the future they will allow the same but right now you should keep your Bitcoins secure and try using the traditional way , till we have a solution.

I actually thought of Etoro quickly but I think it's not that you can buy and pay it directly with bitcoin with any stocks you want. It is needed to be converted to USD first before purchasing stocks and vice versa.

It's a strategy for investors that you have to diversify so whenever the other is in loss, you can still have time to recover with your other investment. Diversification is good if you have various investments and it is scattered to bitcoin, stocks and other investment vehicles.

For any platform to offer that kind of service, it would require a lot of legal work and it might be difficult for them to handle. They will have to calculate the stocks worth in dollars and then also calculate in Bitcoin. So, my advice would be to just focus on one; if you want to be investing in cryptocurrency, then you should be focusing on that and if you like stocks, then focus on that.

Moreover I don’t see anything wrong with buying stocks with fiat, I do that all the time I invest in gold. My cryptocurrency stays as cryptocurrency and I don’t bother myself in this kind of situation. Buying stocks using bitcoin does not sound right for me. Because, you are spending a high yield investment for the sake of another investment which may not match with bitcoins in terms of ROI.

He said he can buy stocks with bitcoin, he just doesn't want to overpay 5% which is absolutely understandable.
Bitcoin is really associated with illegal activities, like hacking and everything in "darknet" regular person doesn't understand.
It doesn't mean bitcoin has a real connection to illegal activities tho

Hi Op,

I belive the below news will help you to some extent,

https://news.bitcoin.com/bitcoin-suisse-users-can-now-trade-gold-against-bitcoin-and-ethereum/

Not stocks but gold. A step forward I believe!

CFD or spreadbet platforms is one avenue (these are not available in every country), you could short BTC and go long a stock which is basically very similar to the idea of exchanging BTC for company shares.   This is all very risky, hence its often classed as gambling and they usually want to extend leverage and charge some interest on that.    But gambling is far more accessible then the idea of using plain BTC as a currency for a regulated industry like stocks, they have to track who is buying for purposes of insider dealing and all kinds of tracking hence they want an audit trail.

BTC can very easily outperform any stock perhaps later on I will produce a chart  on AAPL priced in BTC and priced in gold for YTD and then vs Dollar, Euro, Yen.    Swiss bank back their currency by holding apple stock in reserve as an asset I've read, they used to use gold of course.

There are CFD platforms which offer this option. I used to buy stocks on 1broker (and even receive dividends) , but unfortunately this website is no longer available.

Yes but as soon as you sell your crypto coins into fiat you need to pay capital gains tax. If you would be able to buy stocks with crypto same way as you can buy gold with crypto you would avoid paying capital gain tax.

It takes less than one hour to get your btc into lbc get to the bank get a new bank account, visa and trading options, by when you finished you can have the money instantly by several ways and the btc already confirmed, that excluding any service that might let you buy stocks with crypto, idk where i read about it.

I think you haven't done enough research because there are various services where you can buy stocks with Bitcoin. Moreover, these services also allow leveraged transactions. I don't want to advertise the services I mentioned, but there are 2 popular services that I can suggest. One of these services will be "e-Toro" and the other will be "Koinpro". These two services are popular in their fields and they have teams that can easily find solutions to your problems in case of any problem. On the other hand, I advise you not to opt for websites that are not used much and have started new service while doing this type of service research.