6 Smart Ways to Bet on Bitcoin Without Buying It

Can I bet on Bitcoin without buying it?

Let’s say you’re confident Bitcoin is going up, maybe because of upcoming ETF approvals, macroeconomic trends, or just good ol’ hype. But here’s the catch, you don’t want to actually own Bitcoin.

Maybe it’s because:

• You’re not comfortable storing crypto
• You don’t trust crypto exchanges
• You don’t want to deal with wallets or private keys
• Or maybe you’re just a traditional investor who likes to keep things simple

If that sounds like you, then you might be asking:

“Can I bet on Bitcoin without buying it?”

And the short answer is: Yes, absolutely.
In fact, there are several smart, legal, and accessible ways to bet on Bitcoin without buying Bitcoin directly, and without needing a wallet or even a official crypto exchange account.

In this post, I’ll walk you through six of the best ways to do it, plus the pros, cons, and what kind of investor each method suits best.

Read: 5 best crypto trading bot

Quick Summary Table

Let’s dive into each.

6 Smart Ways to Bet on Bitcoin Without Buying It

1. Bitcoin Futures – Speculate Without Ownership

Futures contracts are one of the oldest and most direct ways to bet on Bitcoin without buying it.

What are Bitcoin Futures?

You agree to buy or sell Bitcoin at a fixed price on a future date. It’s a financial contract, not actual Bitcoin. You don’t need to hold the coin; you just profit (or lose) based on the price difference.

Example:

• You agree to buy BTC at $65,000 in one month.
• If BTC hits $70,000 → You profit $5,000.
• If BTC falls to $60,000 → You lose $5,000.

Platforms like the CME Group offer regulated Bitcoin futures. Crypto-native platforms like Delta Exchange India, Binance, Bybit, and OKX, offer higher leverage and flexibility, but often come with more risk.

Pros:

• High potential profit
• No need to own Bitcoin
• Can go long or short

Cons:

• High risk due to leverage
• Complex for beginners
• Margin calls can liquidate your position

2. Call Options – High Upside, Limited Downside

Call options give you the right (but not obligation) to buy Bitcoin at a set price before a deadline. It’s like placing a low-cost bet that Bitcoin will go up, and if it doesn’t, you just lose the premium.

Example:

• You buy a call option with a $65,000 strike.
• You pay a $1,000 premium.
• If BTC hits $75,000 → You earn $10,000 – $1,000 = $9,000.
• If BTC stays below $65,000 → You lose only $1,000.

Call options are available on Deribit, LedgerX, and some brokerages with advanced crypto products.

Pros:

• Limited downside risk
• High upside potential
• Doesn’t require owning Bitcoin

Cons:

• Options can expire worthless
• Requires understanding of pricing
• May not be beginner-friendly

This is one of the smartest ways to bet on Bitcoin without owning it, especially if you want to risk a little to potentially gain a lot.

3. Bitcoin ETFs – Easiest for Stock Investors

Don’t want to set up a crypto account at all? You can still bet on Bitcoin through ETFs (Exchange-Traded Funds) that track the price of Bitcoin, either through futures or direct holdings.

Popular Bitcoin ETFs:

• BITO – Futures-based ETF (by ProShares)
• IBIT, FBTC – Spot Bitcoin ETFs (backed by actual Bitcoin)

These trade on traditional stock markets like the NYSE or Nasdaq, meaning you can buy and sell them from your regular brokerage account (Fidelity, Robinhood, etc.).

Pros:

• Super easy to buy/sell
• Regulated and safe
• Works in retirement accounts (IRA/401k)

Cons:

• Small management fees
• May not match BTC price 1:1
• No true ownership (can’t send or store it)

If you’re a long-term investor looking to profit from Bitcoin without buying Bitcoin, this might be your best bet.

Read: Best trading strategies

4. Crypto Stocks – Indirect Bitcoin Exposure

Some public companies have massive Bitcoin holdings or rely heavily on Bitcoin’s success. Buying their stock is like placing a side-bet on Bitcoin’s rise.

Top Bitcoin-Related Stocks:

• MicroStrategy (MSTR): Holds billions in BTC
• Coinbase (COIN): Major crypto exchange
• Riot Platforms, Marathon Digital: Bitcoin mining companies

When Bitcoin goes up, these stocks often rise (sometimes even more than BTC itself).

Pros:

• Easy to access via any stockbroker
• Great for stock-focused investors
• Can be part of a diversified portfolio

Cons:

• Stock prices are influenced by other business factors
• Indirect, not purely tied to BTC price
• Can be very volatile

This is a sneaky but effective way to bet on Bitcoin without buying it, especially if you already trade stocks.

5. Contracts for Difference (CFDs) – For Non-US Traders

If you’re outside the U.S., CFDs offer an easy way to speculate on Bitcoin’s price movement, both up and down, without actually owning it.

You basically enter into a contract with a broker. If BTC’s price goes up, you’re paid the difference. If it drops, you owe the difference.

Where to Trade CFDs:

• eToro
• Plus500
• IG Markets

(Again, not legal in the U.S., but common in Europe, Australia, and Asia.)

Pros:

• No crypto wallet needed
• Can go long or short
• Fast and simple setup

Cons:

• High leverage = high risk
• Not beginner-friendly
• Not available in the U.S.

If you live outside the U.S. and want to bet on Bitcoin without buying Bitcoin, CFDs are worth exploring, but only if you fully understand the risks.

6. Prediction Markets – Bet on Bitcoin Outcomes

Sites like Polymarket or Kalshi let you place bets on specific outcomes, like:

“Will Bitcoin reach $150,000 before Jan 1, 2026?”

You just choose yes or no and place a small wager. If you’re right, you profit, just like a sportsbook but for markets.

Pros:

• Very easy to use
• No crypto knowledge needed
• Fun way to bet on long-term trends

Cons:

• Limited bet sizes
• Platforms may require US or non-US residency
• Often not tied to real market exposure

Think of this as a lightweight, casual way to bet on Bitcoin’s future without technical analysis or trading experience.

FAQs

Final Thoughts: You Don’t Need to Own Bitcoin to Win Big

Yes, you can bet on Bitcoin without buying it, and there are multiple smart ways to do it.

Whether you want to go all-in with futures and options, or keep it simple with ETFs and stocks, you’ve got legit ways to profit from Bitcoin’s rise without ever touching a wallet.

My advice?
Choose the method that matches your comfort level, risk tolerance, and investing style. And always remember: these are bets, even if they’re smart ones, so manage your exposure wisely.