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Why you should invest in Bitcoin

Why you should invest in Bitcoin

We’ve all heard about bitcoin (BTC) in recent years and how fast it has grown. However, we know that it is an electronic currency / virtual currency that is not printed, and you cannot have it in its physical version.

It is a currency developed by people and businesses worldwide on computers using programs that solve mathematical problems.

This is where the mining part comes from if you read the answers to the questions below.

It is the first and most famous cryptocurrency in the world.

Anyone or any entity does not control the Bitcoin network. The network is controlled by all its users, who buy or sell.

What are the advantages and benefits of investing in bitcoin?

  • It can be a way to invest and make a sale – you can make money, but you can also have a good chance of losing it – it’s all about your ability to understand the system;
  • You can buy products/services with them; businesses worldwide started to accept Bitcoin as a payment method for purchasing their products or services.
  • Low fees at the level of payments, Bitcoin usually does not have very high commissions, but in a certain period of times, fees can be quite high;
  •  Merchants are more secure because, at the time of payment via bitcoin, personal data is unavailable. Thanks to this process, payments are more secure.
  • The Cryptographic system is transparent and neutral. No one can intervene to change it.
  • The payments you make can be made 24/7 – without worrying about the banks and their schedule.

Is investing in bitcoin a method of short-term get rich scheme without losing money?

Certainly, this answer is NO. You can lose a lot of money in the short term if you are not careful. And in the graph with more game statistics, if you notice, there are very long periods of growth and periods of sudden decrease.

Unfortunately, bitcoin has had a chaotic promotion. Many said you would make a lot of money overnight. You usually find these notions in pyramid schemes.

In the case of bitcoin, the system works differently. It is not pyramidal. It’s all about your ability to analyze, understand and invest.

The more you hurry, the more you risk losing money. The rules are the same as for stock market investments.

How has the price of bitcoin fluctuated in recent years?

Investing in bitcoin is risky if you are looking for quick gains without analysis. A little news about 2 Chinese companies that stopped using bitcoin as a payment currency affected the market by 15-20%.

The market is volatile. In 2013 a coin costs a few dollars and immediately increased to $ 900-1000

It is currently over $ 40,000, has increased by over $ 30,000 since I wrote the article in less than one year.

You have to analyze very well when you want to enter the “choir.” Therefore, I recommend more long-term investments, but with a start in a minimum period.

However, if you are a more active type of investor, you can make monthly purchases and sales of coins on good returns.

What is the total number of bitcoins in circulation?

It increases from year to year depending on the interest of investors.

From 2009 to 2017, it reached approx. Seventeen million bitcoins and, as you can see, the trend is growing quite well. So this would also be a pretty good reason why bitcoin could be a long-term and safe investment.

If I make a profit from the sale, do I pay taxes?

Investments are taxable, as are all other investments. Any gain is taxed according to the state you belong.

Where to buy Bitcoin?

You can use certified cryptocurrency brokers such as Binance to buy Bitcoin and other cryptocurrencies.

More like this: bitcoincryptocurrency

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