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.
Table of Contents:
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 little 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 2019.
Bitcoin’s value is quite interesting. One time, it even exceeded the value of gold in 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. 🙂
UP NEXT: How to Buy Bitcoins
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@Mark.. thank you for your help.. I wanted to try this. Im totally new to this so maybe I need to read the FAQ’s so that it would also help me. By any chance do you need to buy a Ledger Nano S in order to secure whatever gains youll have when investing sa Bitcoin?
A Nano Ledger S, when ordered from the region’s authorised distributor in Singapore, costs around 4k-5k, which includes shipping here to the Philippines. I think that unless you plan on letting your bitcoin investment reach into the 6-figure mark, you don’t really “need” the added security of the Nano Ledger S. Of course, if you have an extra 4-5 thousand pesos just lying around and you have no immediate use for it, even if you haven’t invested a huge amount of money yet, it’s your money, so feel free to buy it.
Also, it’s an issue of trust. Do YOU trust that the coins.ph servers won’t be hacked in the next few days, weeks, months, year? Have they ever been hacked before? Out of all the huge bitcoin online exchanges in the world, what are the odds that they will specifically choose a new bitcoin online exchange based in the Philippines? If you don’t trust their security enough, then feel free to buy the Nano.
Also, even if you only have a little amount invested now, but you plan to regularly invest in the long-term until retirement (which means eventually, your money will reach the 6-figure equivalent in pesos) then buying the Nano would likewise be a wise investment for the future.
Personally, I plan to invest in the long-term, and even if I haven’t yet reached the 6-figure mark, I plan to reach it eventually in the future. I ordered the Nano several weeks ago from Singapore and expect it to be delivered late Dec./early January .
Hello Mark, Thank you for your response. I really, really appreciate it. I think I am now convinced to try it the soonest possible time. I have already created an online profile at coins.ph and I am getting ready to invest an amount on it..just to try. Hopefully, I would be able to find some FAQs thru their website which would help us out (newbies on this) to make it a lot easier for new users/investors. Is it okay to solicit you opinions if I have additional questions?
No problem. 🙂
per my research, coins.ph do not have private keys. we need to get private keys for every bitcoin that we purchase. if we do not have private keys, it means we really do not have bitcoins.
where do you get your own private keys?
Some online wallets give them, like Bread (which gives the option of a cold storage, i.e. gives you a list of words to write down on a piece of paper to act as your lock-and-key when accessing your bitcoins). The safest though are hardware wallets, like the Nano Ledger, Trezor, etc.
You are correct, when you store your bitcoin in online wallets like wallets offered by bitcoin exchanges (coinbase, coins.ph, etc.) you are storing them on their servers. This does not mean that you don’t own them, however. You do own them, you just don’t have them “in your possession”. It’s somewhat like keeping your money in a bank. The question is, do you trust that your bank won’t be robbed in the next few months, years, etc.? It’s the same thing with online exchange wallets- Do you trust that the exchange servers won’t get hacked in the next few months, years, etc.? Getting a hardware wallet (or at least keeping your bitcoins in “cold storage” using a list of keywords is like “not trusting banks so you bury your treasure under the ground in a remote location and the only way that you can find it again and access the bitcoin/s is/are if you have the “map” with you- which is the list of words”). The downsize to the private keys is that if you LOSE that list of words you wrote down on paper, you will NEVER be able to get back/use those bitcoins. No one, not even you, in the world will ever be able to use them. Online exchange wallets may be “less safe”, in that there is a possibility that the site’s servers could be hacked, but if you forget your account/wallet’s password, you can still access it by “resetting” your password.
Hello,
Thank you for the information you have provided. So, in other words. (please correct me if I am wrong….. I just would like to confirm….).. it is better to have a drive and/or a say…… hardware if you would like your bitcoins to be safe and/or to be stored thru that means/platform…right? I have gotten a response from one of the users here that IF say.. you have such a hefty amount of Bitcoin already, it would be better to have a drive where you can store it. I guess it a matter of trust issues :). I am interested to explore in this type of venture and of course, it would be better to consult and hear opinions from others who have been on it for quite a while now…. Thanks and I am looking forward to your response.
Hi, Jonel 🙂 There is a significant reason why I recommend the Ledger Nano S in this post because it’s very unpredictable how much bitcoin can grow in value even if you only have .50 BTC it’s still valuable. And offline storage is the best way to protect our bitcoins. Cheers!
share ko rin ung short experience ko sa trading ng bitcoin bago lng ako sa bitcoin last month nagsimula ako 150 usd at ang platform na gamit ko ay ang cex.io para pwde mag trade sa iphone anytime 24/7 ang target profit ko lng is 1 dollar per day masaya n ko para lang matutunan ung trading concept iba sya sa stock market wla syang board lot , min buy is 0.01 bitcoin min sell is same. positioning investor ka kpag trade ka everyday kase grbe sya mag fluctuat ng price. and wallet na recommend ko bread wallet kase rank number 2 sya open bitcoin privasy project, kung altcoin nman jaxx kse meron n syang built it na shapeshift .
thanks for sharing 🙂 but I’m not into active trading BTC
Hello Kraud,
How do you do the trading at cex.io? I wanted to try it thru that platform as well. I hope you can walk em thru on some of your insights..Looking forward to your response.
sir jonel una bago ka mag register sa cexio i check nyo po ung site mabuti kase kapag sa desktop ka mag register meron fake na cexio na nag phising ng info natin tpos hahackin ka. the safe option is to download the cexio app sa apple store if your using ipone. kung wla naman ok lng basta ingat. after you register u have the option to choose kung panu ka mag deposite either by bank or debit/credit. ako pinili ko is debit card kse matagal mag credit kapag bank to bank aabutin ng araw. and credit instant lahat pero may charge po masakit ang mga charges ng mga crypto exchanges tulad ng cexio kse mahal ang transfer fee ng bitcoin malalaman mu yan kapag nag transfer ka sa wallet ng exchanges to other wallets. kapg verified and ready to deposit na deposit ka muna na kahit 100 usd den punta ka sa trade nila madali lang gamitin ung app nila parang fb lng hehe. there are 2 ways to buy is either by market or by limit order. bago po kayo bumili check nyo ung chart kung san kaba poposition. kase kpag pataas ang price mhirap magbenta antay lng kayo bumaba ng konti bago ka bbli at ang price nila iba sa price ng coinbase. ang kitaan dyan antayin nyo mag change by 100’s ang like ex: buy ka 0.02btc at 6700 gastos mu is 98 den after 15 mins ung price nging 6800 kita ka na ng 2usd. min 0.01btc kpag nagbago ang price kahit 100 kita ka na 1 dollar haha. kaya mhirap mag trade ng bitcoin pag di mu matututkan ung change ng prices kase mabilis mag iba. kaya and strategy is positioning ng price hatiin mu ung mga buy mu kase ung mga postion nyan pwde mging top at botom. pag nag bago ung botom nging top benta na and vise versa.
sa bitcoins po ba walang chance mag negative balance?
Any type of investment has a chance of negative balance or loss
can’t wait for your next article about the bitcoin.. More Power! ????
This is such a cliffhanger hahaha! Can’t wait for the how-to article!
hahaha it’s posted now 🙂
Cant wait for the next update! I was eyeing with BTC and Gold. Both instruments will surpass stock growth daw.
Not a good time to buy right now. I got a tip something will happen on Oct. 25 with BTC so I’m expecting after that time, it’s good to buy 🙂
Thanks Ella 🙂 Majority of my investments are in stocks pa din. Bitcoin is just an opportunity I don’t want to miss and I only invest so small with it, very risky kaseh
How to buy Bitcoin please
Next article will be posted later or on Monday 🙂
Thank you
hoping and waiting more on this cryptocurrency… I bought a DIX assets for 10M DIX coins at 900 pesos only. Just waiting for it to grow.
Nice move 🙂
Following this post!! Very much interested with bitcoin but dont know where to start.. Thank you 😀
Hello Elaine 🙂 No worries, I will be posting Bitcoin guides here in Dailypik, too 🙂
Hi ms.fehl
i want to ask if there is mutual fund for bitcoin.Thank for sharing this information
Hi Daniel. There is no MF for Bitcoin that I know so far. My pleasure 🙂 I will be posting the next article how to buy bitcoin the most secure way so see ya there!
I’m using coins.ph…is this reliable and safe to buy and store bitcoins? thank you. I’m your avid follower.
Hi, Rowena 🙂 It’s reliable but it lacks more security features and protection. My next post will be about securing and protecting bitcoin wallet. See you there!
mam magkakaroon na ng index fund ng crypto check out nyo po ung crypto20 na website sya p lng ang index fund ng crypto currencies. kung ma review nyo po sila kase mag end na ung ico ng nov 2017
Hi, in terms of Index Funds (international) meron na dati pa but it seems to be hard for them to exceed the performance of BTC or their benchmark. In terms of MF here in the Phil., wala pa
Hello @Rowena,
Can you please help me out on how to invest in Bitcoins using the coins.ph platform. I have already created an online profile there but I do not know how to proceed. Looking forward to your response.
Investing in Bitcoins via coins.ph (I use it as well for long-term bitcoin investing plans) is easy. You just press “Cash in” on the app, choose the method (I personally prefer Cebuana Luillier if you’re depositing bigger amounts as their rate is cheaper. 7-11 is probably one of the most accessible, but they charge a freaking 100 pesos per 5,000 you “cash in”.) You then input the amount to “cash-in” and choose the target wallet. I just choose the peso wallet. Once you confirm, the app sends you details via email/text on the details to write once you’re at Cebuana/or 7-11 (or whichever place you chose on the list). After the cash-in, when the amount appears on your peso wallet, you can “convert” the peso to bitcoin. This basically means you are buying “parts” of a bitcoin. If you check your bitcoin wallet, the bitcoins (or technically, the percentages of a bitcoin) appear there. You can see below the amount of bitcoin the approximate value in pesos if you were to convert/sell them all back to coins.ph.