Investing in bitcoin is something most people do to gain financial freedom. If you read our article on bitcoin, then you should probably also understand how to get and use bitcoin. But just in case you missed that write up, not to worry, you can still get the chance to read it by clicking HERE.
however, as bitcoin prices dominate headlines, you might be wondering whether you should invest in the popular cryptocurrency called “Bitcoin” or not.
So many people are still pondering over the idea of investing in Bitcoin; if it’s a good or bad idea. But never to worry, this article will enable you to facilitate your decision in no time.
Let’s try to understand what caused the unprecedented surge in price of Bitcoin
At first, Bitcoin didn’t really have any traction. It was reserved solely for the early adopters, and there were very few businesses that accepted it as a payment method. In fact, the first transaction ever made in Bitcoin was for two pizza trays, which cost 10,000 Bitcoin in 2010. Today, those pizzas would have been worth around $9 million! As more and more businesses accepted the currency, it gradually went up in value. At the same time, people were starting to embrace the idea of a decentralised currency, and as more people jumped on board, prices began to soar.
many investors that are investing in bitcoin, saw Bitcoin as a haven asset, similar to gold. Unlike traditional currencies, which are affected by changes in their respective economies, Bitcoin is not affected by changes in the field. Therefore, some traders use it as a hedging tool when their own currency is on the decline. A good example of that is the fact that many Chinese investors turned to Bitcoin recently when the Yuan was declining.
Furthermore, know that Bitcoin isn’t some magic money making scheme, nor is its existence a secret. In fact, you’ve probably heard of this asset before and said, “No way, too risky, not for me.”
But in doing so you unfortunately would have been wrong. You would have passed up the chance at what’s been a truly historic profit run, possibly because you may fear things that you don’t understand yet… possibly because you’re afraid of things that are new.
However, know that in times of economic uncertainty, Investing in Bitcoin has so far proven a safe haven for investors, just as has always been true with gold. But Bitcoin has also proven to be more than just a fallback because, unlike gold, when stocks are rallying, Bitcoin rallies too.
Are you still thinking twice about investing in bitcoin?
Well I guess not, but probably thinking about what platform to invest in to get more bitcoin for yourself. There are lots of platforms out there that you could probably invest in and make much more bitcoin for yourself.
In our neat post n bitcoin, w e will be looking at some of the platform that you could invest in and grow your bitcoin