Should You Invest In Bitcoin

Should You Invest In Bitcoin

Even though Bitcoin is widely hailed as the global currency of the future, the potential drawbacks or risks should not be overlooked.
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest. – Bitcoin News source since June 2011 –
Is Bitcoin a risky investment?
Considering the positives of Bitcoin, the drawbacks are seemingly less. So you need to balance both and then decide whether you really want to go ahead with buying Bitcoins or not. Risks are a part of any investment, but you need to exercise your own judgment, do solid research and then invest. And also remember that Bitcoin is somewhat different from other financial assets.
The phenomenal performance of Bitcoin both as an investment option and a currency has attracted institutional as well as conventional investors in the same way. However, when it comes to deciding whether you should invest in Bitcoin, what matters is your investment portfolio and risk tolerance. Of course, adequate groundwork also matters in making informed decisions based on your current financial standing.
What are the drawbacks?
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What are the advantages of buying Bitcoin?

  • Liquidity – Today, Bitcoin is one of the most liquid assets for investment. You can instantly exchange this cryptocurrency for cash or gold; the fees involved are also surprisingly low. Being a high-liquidity asset, this is ideal if you wish to make a short-term profit. But it can also be good for long-term investments, due to the ever-increasing demand for cryptocurrencies.
  • Zero or low inflation – Unlike traditional currencies, Bitcoin is resistant to inflation. There is no way your invested value in this cryptocurrency will lose its worth. This is because there is no centralized governance for Bitcoin, unlike traditional currencies that are regulated by the government.
  • Simplistic trading – Trading in Bitcoin is relatively simpler than trading in stocks. There are no licenses or certificates needed for this, you can just buy or sell Bitcoins on a cryptocurrency exchange, and use a crypto wallet to store them. Moreover, the transactions involved here are instantaneous.
  • Chances for major gains – The entire cryptocurrency ecosystem is still evolving. Newer cryptocurrencies are still emerging, thereby creating newer opportunities for investors. This, in turn, generates volatility in the crypto market with sudden price swings that bring chances of making significant gains.

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Again, there are certain advantages to buying Bitcoin.

  • High volatility – If you have followed the price movements of Bitcoin, you will agree that it experiences tremendous fluctuations. Towards the end of the year 2017, Bitcoin was valued at $20,000, while after some weeks it dipped to as low as $7500. But then again this year, Bitcoin is going at its all-time high. So if you can hold on to your investment for a very long time, it can fetch better profits.
  • Hackers – While you must only go with reliable crypto exchanges, you must be extra cautious with your private keys. That is why it is essential to seek a robust crypto wallet as well.

More than ever, people are now interested to know where is the best place to buy bitcoins, with hopes of making it big. And this automatically sets the others thinking, is Bitcoin is a legit investment. Should they also invest in Bitcoin?
The thrill of raking in millions from an investment also brings with it the fear of losing millions. And when it comes to highly speculative investments like cryptocurrencies which undergo dramatic price swings, the risk factor becomes significant.

To answer the question, yes, Bitcoin is certainly a good investment. But, it needs proper management, like any other investment. If you invest in Bitcoin to feel trendy and then fail to manage it the right way, then it will soon turn out to be your bad decision.
From the very beginning, Bitcoin has been a matter of speculative interest; just like the initial days of the Internet, it had also received much flak. But today, the rate at which investors are adopting Bitcoin has far surpassed the rate of Internet adoption.
The global craze for Bitcoin has been prevailing for more than a decade now. Investors and experts all over the world are wide-eyed when it comes to the expectations that Bitcoin has set over time, comparing it to the world’s reserve currency i.e. gold.
Well, let us explore here if Bitcoin is really a good investment or not.

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