How to Invest in Bitcoin.
Today’s post is based on investing in Bitcoin.
When Bitcoin was started it was just an experiment by Satoshi Nakamoto to a cashless business world. After that people started trading in this digital currency experiment. At that time the price of 1BTC was around 1 cent (Approx value). In 2009 it came into the existence and since then it is growing rapidly.
Looking at the rapid growth rate in Bitcoin more and more individuals, as well as bitcoin investors, are willing to invest in Bitcoin.
Also cryptocurrency mostly Bitcoin has already set a milestone in every particular area. In this year Bitcoin and cryptocurrency are the second most searched global news on the Google’s 2017 trending list. Bitcoin was established in the year of 2009 itself. This year the cryptocurrency sets a new Benchmark in digital currency world by crossing over $18,548 USD. bitcoins gains growth with more the X50 rate.
If you are thinking to invest in Bitcoin, there are certain things and a clear process you need to know. So that you can easily decide that how and when to invest in Bitcoin?
In this post, we are going through some important things which will help you to invest in Bitcoin.
This Bitcoin investment review will help in these particular areas.
- Bitcoin investing guide
- When to invest in Bitcoin
- Investing in Bitcoin
- Can you see Bitcoin as an investment
- Can you invest in Bitcoin
Before that let us quickly see,
What is Bitcoin?
Bitcoin was created in the year of 2009. After that several cryptocurrencies are also created. They are known as Altcoins. Bitcoin is a decentralized technology platform used for the secure payments and storing money that does not require any Bank or People’s name.
Bitcoins allow you to send computing system, that store value, referred to as Bitcoin. It can be transferred from one user accounts to another user accounts without a mediator.
Bitcoins is the most famous as well as most anonymous cryptocurrency that is only available at online exchange platforms. It is just a currency designed to pay for goods and services just like any other national currency.
The only differences are limitation, decentralization, and anonymity makes it unique from other normal currencies. you can read more about this in our video tutorial.
Why is Bitcoin Gaining so much attention?
Actually, there are some strong reasons behind this because of that it is attracting more bitcoin investors day by day.
- First of all, Bitcoin is limited
- When Bitcoin and blockchain technology was introduced to the world, at that time the amount of Bitcoin which was created was limited.
- The fact is that there are not that much Bitcoins are available.
- The number of Bitcoin investors are increasing day by day but the amount of Bitcoin is limited.
- Blockchain technology is the key feature
- The main reason why Bitcoin has so much strength in the investment field is the Blockchain technology behind it.
- Today many Bitcoin investors are trying to make exact same technology by putting ample amount of resources for their own business purpose.
- Bitcoin can be managed easily and accessible everywhere
- All you need to purchase Bitcoin is an internet connection, buying platform, and some verifications.
- Today there are lots of online trading platform where Bitcoin can be purchased easily.
- Bitcoin cannot be hacked or stolen
- It is next to impossible to hack or stole Bitcoins.
- The blockchain technology gives more strength to the security.
- This colossal ledger can never be broken into parts, as a hacker would have to hack every person’s system at the same time.
- Decentralized platform
- The main playing card of Bitcoin is the decentralization.
- Here no data is transferred to any ce8ntral government or authority or anyone.
- Users are free to trade from one account to another account without the need or interruption of a mediator.
- Bitcoin can be used for Goods and services
- The number of online stores, established company and service that accepts and supports Bitcoin is increasing day by day.
- Allowing e-commerce business adds more variety to the user.
Read, more: 58 Instance fact about bitcoins
Bitcoin’s price Growth
Bitcoin price has been skyrocketed the value of digital currencies in digital assets world.
When it was started 1BTC was around worth of 1 cent.
The price of 1 BTC in the year of 2013 was around $750USD. So the growth is just awesome and unexpected to every Bitcoin Investor.
The current price of Bitcoin (at the time of writing) is $18,548 USD.
Now the most crucial topic of Bitcoin, especially when the price of Bitcoin is just increasing day by day,
When to invest in Bitcoin?
As per today the way how Bitcoin is doing nothing is expected.
In my personal opinion when I started trading in Bitcoin, I had never though ted that I will buy Bitcoin at the price of 2 or 3 lakhs, But as I said nothing is expected. So at that time doing some research and reading market analysis I get to know that the price of Bitcoin will increase more. So I started investing in Bitcoin over the price of 8 or 10 Lakhs also.
According to a famous investor, ‘Warren Buffet’ that those people who say that “it is not the right time to invest in a particular thing or the time of investment in that thing are gone than those people are not the real investors”
Same goes for Bitcoin. Over the years it is not stable. It increases sometimes as well decreases also. But the ratio of increment is exactly double as compared to downfall. It is the ability of traders to see Bitcoin as an investment or utilize the profit criteria from it.
How to invest in Bitcoin and where to Buy?
The complication of buying Bitcoins or investing in Bitcoins totally depend upon your country.
You can buy Bitcoins with hard cash, credit or debit cards and via wire transfers.
Before that, you will need to create or own a secure Bitcoin wallet to store your Bitcoin safely. You will also need a good Bitcoin exchange platform to trade in it. Previously it was the Coinbase who was the biggest Bitcoin trade platforms in terms of volume, but recently in this year, it has been defeated by Bitfinex from the margin exactly double from Coinbase.
Should you invest in Bitcoin mining?
Unlike Bitcoin, the Bitcoin mining industry is also growing rapidly.
You can also mine it. It’s just like digging for gold online. That’s why it is been referred as ‘mining.’
Bitcoin miners use a special software to solve math problems (for that your computer must correctly come up with the right combination of 64-digits) and are issued a certain amount of Bitcoins in exchange for solving that Algorithm. As the amount of Bitcoin is limited to 21 Million only. Once it reaches that value then it cannot be created more than that.
The Algorithms are not easy to solve and require special tools and software to solve it or you can say to mine it. Most of the people with proper tools and software are also not able to solve the Algorithm.
Mining Bitcoin is not an easy way to get rich. It is possible that you would have to invest more on specialized computer equipment and software and the result could be less than that or it is also possible that you would never be able to mine that Algorithm.
Is Bitcoin only a Bubble?
The second name of any cryptocurrency or a digital asset in a cryptocurrency world is ‘Risk’.
If you don’t have that much faith on Bitcoin and now as it has crossed the price over $18000 USD so if it is you beyond of scope than you could invest in other top 5 cryptocurrencies that are:
These are the cryptocurrencies that you can go with instead of Bitcoin. If you don’t have that much knowledge in cryptocurrency than don’t go for any other cryptocurrencies other than this.
How to secure your Bitcoin?
Ledger Nano S is the ledger’s most secure wallet. It lighter and cheaper than any other hardware wallet available in the market.
Trezor also a well-known hardware wallet brand. It is same as Ledger. Both wallets come with a high level of security features that are required by every Bitcoin Investor.
Bitcoin can be trusted as most of the company are started supporting it like Amazon and eBay (starting direct support).
The reason behind writing this post is to aware our all users. There several ways to invest in Bitcoins such as mining, trading or by holding. There are also some online gambling sites where you have to invest your Bitcoins and play according to it. Examples are an online casino, online faucet, rummy but most of them are fake and not real. these are just piracy of your Bitcoins.
So be a smart Bitcoin investor.
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