Searching for info about Bitcoin on the web can be an infuriating experience. There will be a ton of promotional videos and people pushing Bitcoin It can be hard to tell the difference between reasoned investment advice from the experts and people just trying to sell more Bitcoin.
About Bitcoin Cryptocurrency
A lot of people will tell you to buy Bitcoin before it’s too late – that’s the kind of fear-mongering that can turn a lot of people off. But there are some real compelling reasons to invest in cryptocurrency that you shouldn’t discount just because of a few bad actors.
Here are some of the things you should know abut Bitcoin before you invest in BTC:
#1 There Are 1,500 Digital Currencies
Bitcoin is the most well-known of a dazzling number of cryptocurrencies: over 1,500 cryptocurrencies are believed to be in circulation right now. With the exception of small ICOs and niche cryptos, the major cryptocurrencies almost all move in tandem when it comes to prices. Bitcoin leads the way on the cryptocurrency market, and it’s almost the most valuable of all cryptocurrencies.
#2 Cryptocurrency Is Mined
Cryptocurrency is mined – figuratively. Bitcoin was designed to mimic gold in a way. There is a finite number of Bitcoins that can ever exist – a number that’s shrunk considerably due to a large number of Bitcoins simply missing. They’re the result of many early buyers forgetting their passwords before Bitcoin was worth $20,000. Bitcoin is mined by computers often in parts of the world where electricity is cheap.
#3 Bitcoin Is An Investment Tool
Bitcoin was originally designed as a way to conduct financial transactions without the banking system. The idea was to reduce the costs of sending money, and the currency may be back on track to achieving those goals thanks to lower transaction fees and faster transaction times. You can trade fractions of Bitcoin – called “satoshis” after the founder.
However, Bitcoin has by and large become an investment tool – a way to grow and accumulate wealth. There are Bitcoin exchanges and brokers, and the future looks poised to introduce Bitcoin futures and index funds. The idea is to make money by buying low and selling high – classic Wall Street advice.
#4 Bitcoin Is More Like Gold Than Stocks
There is one important caveat; Bitcoin is not quite like stocks and bonds. Investors put their money into stocks and bonds because they can expect cash flows, interest, and principal income.
With Bitcoin, you only profit from increased price, so you can sell it for more than you bought it for. In this way, Bitcoin much more closely resembles gold. With increased investment coming from cryptocurrency exchanges, it’s getting easier and easier to buy Bitcoin. Canadian cryptocurrency exchange Bitbuy recently announced its acquisition of Blockchain Markets Inc., which held important proprietary technology that will allow the company to revamp its platform and launch a state-of-the-art exchange.
Using BCM technology like a low latency order matching engine that will enable faster transactions. The company is planning its renovated platform Bitbuy Pro, featuring increased security, greater liquidity, and easier trading and on-boarding.
Buy Bitcoin And Build Wealth
If you’re interested in buying Bitcoin, you can learn more online about how you can save time and money doing so. There are plenty of reason to buy Bitcoin, as well as plenty of other cryptocurrencies. The price correction in recent years has proven to be a major opportunity for anyone who missed out on the skyrocketing prices Bitcoin holders enjoyed in years prior. Invest now and hold – when Bitcoin prices bounce back, you will see why.
I hope you enjoyed this blog post about the most important facts that you need to know before investing in Bitcoin or other crypto.
Interested in more articles about Bitcoin and cryptocurrency?
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• Why Cryptocurrency Could Become The Future Of Hedge Funds
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