When it comes to investing your hard-earned cash, it is easy to follow the herd into share dealing or the Forex market. In truth, that is not a negative approach because both can make you a lot of money if approached correctly. However, what if you are already doing that and want to diversify your portfolio? Or simply fancy investing in something different and a little more interesting? If this applies to you, then you need to hunt down some alternative investments to consider.
But what exactly are alternative investments? They are pretty much what it says on the tin – anything that is not your standard investment route of buying shares, investing in currency or joining a managed fund. If you are looking for the best investment options around that offer something different, the below should help.
Cryptocurrency is now a big player in the field of alternative investments with Bitcoin being the one most people opt for. If you fancy taking a different path though, why not invest in Litecoin? Buying Litecoin in the UK can be done via cryptocurrency exchanges and in a variety of ways. You could simply pay for some in Sterling, use an existing Bitcoin balance to purchase some or even buy direct from a peer via Escrow. Litecoin is worth investing in over Bitcoin as it has faster transaction speeds and is more affordable. By buying now while the price is low, you could make a decent profit over the long term.
Peer to peer investing
This is another fairly recent type of alternative investment that has really caught on. It essentially means you are lending money to businesses that need it to start or to grow. You do this via easy to use online platforms. The business that you lent the money to then pays it back, with interest, over a set period. This can make you a profit on the initial investment you make. The added bonus with this type of investing is that you get to help entrepreneurs who cannot get the investment they need from traditional sources like the banks.
Housing and commercial property
Property has always been a solid UK investment as long as you buy in the right area at the right price. The great thing about property investment is that you can approach it how it works best for you. Many investors buy properties to rent out and in that way they build up a property empire that provides a regular income. If that is too much administrative work, you could simply buy property to sell on at a profit. If you have the skills or contacts to renovate a property that was originally in poor repair, it can net you some handsome gains upon sale.
Don’t be afraid to be different
While many people stick to the same investment types, there are in fact many ways you can put your money to work. The above ideas show just what else you can invest in and what the best alternative methods are right now. If you have some spare cash and want to make it work for you in the long term, finding some new ways to go about it makes sense.