By now, many would have heard about bitcoin. Many people might have different perspective and views about bitcoin. For some, is bitcoin investment risk high? For others, is bitcoin opportunity fund now? With the search term bitcoin usd growing every day, how is bitcoin long term going to be? While for some, is bitcoin mining a good investment?
Here are some reasons why bitcoin is good. And is now a good time to buy bitcoin?
When is the best time to invest in bitcoin? Is now a good time to invest in bitcoin? Is bitcoin a smart investment?
The best time to invest in bitcoin is in the past. The second best time to buy is now. So it is worth buying bitcoin if you are thinking in the future, for the long term.
Should you invest in bitcoin? Is bitcoin bad investment? Should you buy bitcoin? Is bitcoin worth investing?
Like venture capital investing, with high rewards come with high risks. The price may be volatile in the short term, but in the long term, the price will rise if there is more adoption.
So should you invest in bitcoin? The answer can be yes and no. Yes if you believe and understand the underlying technology and economics, that bitcoin will be adopted in the future. And No, if you are only planning to get rich quick. It’s because in the short term, the price might plunge 70% or more but it might also increase ten-fold or more in the future.
Does bitcoin have a stock?
No. Bitcoin is a currency and not a stock. Like all currencies, it may go up or down in value when it is traded with other currencies. If people perceive the US dollar (USD) to be stronger and therefore buy USD and sell bitcoin, the price of bitcoin will fall in relative to USD. Vice versa, if people view bitcoin as a better currency (higher demand) and buy more of it and sell USD to buy it, the price of bitcoin will increase in relative to USD.
Is bitcoin on the stock market? Bitcoin vs stock market
Depends on how you view it, there are many exchanges available online for you to trade bitcoin worldwide. So yes, it is on the stock market. It’s on the international stock market where globally everyone can trade 24 hours without limit.
Bitcoin bad investment?
Yes and no. Yes, if you do not understand the underlying technology and use. And No, if you really understand the potential of bitcoin or blockchain technology will have in the future. If you understand how money works, such as how money is transferred from one person to another, you will think of bitcoin differently.
Why you should invest in bitcoin
There are many use cases for bitcoin at the moment and even more in the future. Currently, you can use bitcoin to transfer money without borders. What does this mean? It means that you can send money to anyone anywhere in the world with low fees.
If you tried to send money overseas, you would have experienced paying very high fees and waiting many days for the funds to clear. With bitcoin, you can send funds instantly and with low fees.
And in the future, you can use bitcoin for micro transactions. What does this mean? It means that you can buy an article online or buy an image instantly using lightning network. And its use case in the future is endless.
Why invest in cryptocurrency? Should you invest in cryptocurrency?
No, if you do not understand it. And yes, you should only invest in the ones you know and understand. Most cryptocurrency or altcoins are fraud in nature. You lose money feeding the early creators. But it’s different for bitcoin and ethereum.
Is bitcoin a good idea? Is bitcoin good? Is investing in bitcoin smart? Is it smart to invest in bitcoin? Should I buy bitcoin now?
Yes. Why invest in bitcoin? Here are the reasons to invest in bitcoin. With bitcoin, you can
- Send money to anyone online anywhere
- Send money instantly, unlike wire transfer where you have to wait many days
- Use for micro-payments in future with lightning network
- Bring money cross-border, you do not have to worry being caught carrying large sum of money when going overseas (eg. money confiscated, paying heavy tax)
- Keep money in your own bank account (eg. ledger – hardware wallet, paper wallet) instead of being held ransom by a bank corporation
- Freedom to use your money the way you want, not as deemed what you can do or cannot do with your money if it is kept by a bank
- Supply is limited, you cannot print more bitcoin as it has limited number of supply. Unlike fiat currency such as USD
- Secure. It’s the most secure way to store money currently. And of course, do not store your money in an exchange or you risk losing your money in hacks. Store in hardware wallets
What currency to invest in?
What is the bitcoin stock exchange symbol?
Any bitcoin investment advice?
While it is still at an early stage, you should buy bitcoin via the dollar cost averaging method. As the value is volatile, your strategy is to accumulate more bitcoin in the longer time frame and not to day trade.
For dollar cost averaging, you should set to buy for example USD 100 per month regularly. Therefore, if the price of bitcoin goes up, you buy lesser bitcoin with your USD. And if the price of bitcoin goes down, you buy more bitcoin with your USD. In the future, you would have accumulated more bitcoins.
That way, you will not be carried away with your emotions when the price drops in the short term.
How much bitcoin should I buy? How many bitcoins should I buy?
It varies from person to person. You should only buy with excess money that you have. Meaning, do not spend money that you need to buy for food and shelter today. You can view buying bitcoin like investing in the stock market.
You should never buy bitcoin on a margin or leverage. This is because if you do, you will lose money when the price of bitcoin falls and you will not be able to recover when the price increases after that.
So how much? Also depends on how much you understand the technology and its impact in the future. If you think it is going to change the way people use money in the future, buy more. If you think the future is bleak, sell.
Invest in bitcoin or ethereum?
Bitcoin and ethereum.
Is it safe to invest in bitcoin?
Yes. However, you should always keep your funds in a hardware wallet and not keep in an exchange. Exchanges get hacked every day. Why do exchanges get hacked? Because it is money! Bitcoin is currently a currency that is digital aka internet’s currency of money.