Are you fascinated by the incredible rise of Bitcoin? Are you planning on making a Bitcoin investment but always hold due to the lack of essential insight? Then you have come to the right place. Here we have discussed the paramount factors that – as a potential Bitcoin investor – you will need to know.
The particulars we have covered here include:
- Why Is Bitcoin Gaining Worldwide Popularity?
- Why invest in bitcoin
- When is the right time to buy?
- How to secure bitcoins?
Why Is Bitcoin Suddenly Gaining Worldwide Popularity?
Ever since the internet took over our lives, everything is becoming more and more reliant on it. And to make online transactions, we needed a currency that was more secure and less exposed to theft.
Several digital currencies tried to claim that spot, but Bitcoin is the only one that emerged as the victor.
The reason behind Bitcoin being the primary mode of online transactions is the security, reliability and complete anonymity that it gives to users.
Bitcoin is open to everyone and is not tied to a particular country; which makes it quite an exciting investment opportunity.
Why Invest in Bitcoin?
A bitcoin is worth well over a thousand USD. It may sound silly to some people but this is what the truth is.
Let’s take an example of gold to understand why bitcoin investment is a good idea.
Gold reserves on our planet are in a limited. The more we mine, the less is left and it becomes harder and costlier to find and mine.
Same is the case with bitcoins. They are finite and become harder to mine over time. Here are some key reasons as to why you should invest in bitcoins.
- The monitory policy is predictable and can be verified by anyone.
- Due to this predictability, it becomes possible to know how many bitcoins are in circulation and when new coins are created.
- They can be transferred to any part of the world without government restrictions.
- More corporations are starting to accept bitcoin as a form of payment.
- If you understand Bitcoin, you would know that future belongs to this virtual currency.
When Is the Right Time to Buy Bitcoin?
As with any market, nothing is for sure. Throughout its history, Bitcoin has generally skyrocketed in value, followed minor, steady downfall until it settles.
If you want to understand current market trends and risks involved in the investment, go with the tools like Cryptowatch and Bitcoin Wisdom. These tools help you analyze charts and understand the price history of cryptocurrency.
Lastly, How to Secure Bitcoins?
As with anything valuable, thieves, con artists, and hackers are after your coins, so it’s necessary to keep them secured. But the question is, how to do so?
To gain maximum security, keep your coins in trustworthy wallets, such as Trezor and Ledger Nano S.
- Trezor – it’s an offline wallet that generates private keys offline to keep your assets secure.
- Ledger Nano S – a Bitcoin security company. Ledger Nano S offers a wide range of Bitcoin wallet addresss, and the wallets associated with this company are considered to be one of the safest out there.
You can discover more about these wallets on their official sites.