Why you should invest Bitcoin? The expected amount of 1 Bitcoin by 2030 could be worth $500,000. Cryptocurrencies are catching people’s attention that is why they are thrilled to buy bitcoins. We now live in the digital world and the internet. Everything can be given or taken online including money. But money has evolved in the world wide web.
In this post, I’m gonna share the reasons why you should start investing bitcoin. But first, let me give a brief info what Bitcoin is.
What is Bitcoin?
Bitcoin (BTC) is a digital currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and there is no need to give your real name.
More and more online transactions are beginning to accept Bitcoin because of the speed, anonymity, less limits and lesser fees compared to other payment schemes like credit card, online banking and Paypal.
Bitcoins are stored in a “digital wallet” a.k.a. Bitcoin Wallet which can exist either online or offline.
Because there is no central bank or government, people compete to “mine” bitcoins using computers to solve complex math puzzles. Through this, bitcoins are created. Bitcoin miners also help in keeping security, stability and fairness in the Bitcoin network.
Why You Should Invest Bitcoin
As you already know, I always encourage investing than trading. Even to stocks and equities, it’s the same, I always prefer passive income. With Bitcoin, I also encourage people to invest than trade because Bitcoin is riskier than stocks. It may be volatile and it requires a freakin’ technical know-how. Meaning you also need to invest enough computer literacy to maintain and protect your bitcoins.
However, I do not recommend investing much of your money to Bitcoins because of the huge risks. I recommend investing only around 1% of your money. Why? Because Bitcoin is a digital currency, there is a huge risk to your account when your computer is online or when you accidentally open a fake email. Bitcoins are easy to be stolen anonymously. You should protect your bitcoins by storing them offline as much as possible. We discuss the ways how to do in another page.
Because of the web, Bitcoin has a potential. On July 2010 bitcoin price was around $0.08. A guy who bought $25 worth of bitcoin back then is now an instant millionaire having $1,752,500 as I write this post.
Other digital currencies are now emerging like Ethereum (ETH), Litecoin (LTC), Zcash (ZEC), Dash, Ripple (XRP), Monero (XMR), NEM, IOTA and Ethereum Classic. Apparently, six of the world’s biggest banks have joined a project to create a new digital currency which is expected to launch next year 2018.
Bitcoin’s value is quite interesting. One time, it even exceeded the value of gold this 2017. This chart seems like shooting for the stars.
People ask me why I buy bitcoin? What’s my 1% gonna lose if by 2030 1 BTC would be worth $500,000? I don’t want to miss this chance. Bitcoin is a privilege and the tech world is unstoppable. Besides, I seldom buy BTC. I’m still focused on my stocks. I keep my BTC and let’s see the charts in 2030. 🙂