A Review of Bitcoin Investment
Everybody is talking about cryptocurrency right now and the one cryptocurrency which is known better than all others is Bitcoin, the industry-leading cryptocurrency, which at the end of 2017 enjoyed a massive hike in its value, kicking off the whole mainstream interest and coverage of Bitcoin.
If you haven’t heard about Bitcoin yet, then where have you been? Don’t fret, however, because there are plenty of resources such as Crypto Head, which can teach you everything you need to know, including how to go about buying some for yourself. Bitcoin is a digital currency, which can be used like real-world money to buy goods, services, kept as part of an investment portfolio, or used to buy another cryptocurrency.
Here are three reasons why you should consider making an investment.
#1: It Has Made Some People A LOT of Money
Those who invested in Bitcoin many years ago whilst it was still trading for a few dollars per coin have seen a massive return on their initial investment. The price of Bitcoin has risen in value exponentially and is now worth thousands of dollars per coin; not bad for something which people paid fractions of the cost for once upon a time.
This is why investing in Bitcoin is a great idea – nobody knows when the next hike in value is going to be. However, we expect there will be another one as cryptocurrency becomes more commonplace and general trust in banking institutions falls.
#2: You Can Use It Like Physical Currency
You can use Bitcoin and other popular cryptocurrencies, in much the same way as traditional physical currency. Many more places are beginning to accept Bitcoin as a payment method, especially online vendors, and this is expected to grow dramatically over the next couple of years.
Some huge companies such as Microsoft and Expedia now accept Bitcoin as a payment method, and even some physical stores such as Subway take it.
#3: It’s Easy to Buy
All you need is a valid form of government-issued ID and a bank account to buy and sell Bitcoin, or any other cryptocurrency. There are lots of cryptocurrency exchange sites out there which you can use too, making the whole process that little bit easier.
When you do go looking for a cryptocurrency exchange to trade on, ensure you pick a popular one which is trusted and secure. There are many different exchange websites out there and picking the wrong one could put your cryptocurrency at a greater risk from hacking and third-party attacks. Remember, once you lose your wallet, it is gone forever.
We also recommend storing your cryptocurrency locally on your own PC for extra security. There are plenty of different apps out there built for just that, and it is much better than trusting an exchange to keep them safe for you.
The spike in Bitcoin’s popularity has prompted a rise in those investing in it and other cryptocurrencies. So long as you do your research and are careful, there is no reason you cannot make a profit doing it too.