Bitcoin is one of the cryptocurrencies that has been dominating the financial market for the last couple of years. Many investors are still skeptical when it comes to investing because they are not sure what the future holds. Considering that Bitcoin’s price has risen, you need to be careful when putting your money out there. If you are thinking of investing, then in this post we are going to help you discover all the things you need to know before buying it. We are going to explain the basics and help you make the right decision.
What Bitcoin is getting a lot of attention
The world has become more dependent on the internet, so it’s no surprise why people have become so interested in it. This currency is open to everyone and offers the same opportunities to everyone who is ready to invest. You might feel intimidated while working with Bitcoin, but remembers, it will take you some time while you get all the ropes and understand how Bitcoin works.
Why should you invest money in Bitcoin?
It might seem silly that one bitcoin can cost thousands of dollars, but what makes it so valuable? Let’s look at gold, for example. There is a limited amount of gold on earth when new gold is mined, the amount is decreasing and becomes expensive to find and mine new gold supplies. The same rule applies to Bitcoins. Nowadays, there 21 million of Bitcoins available on the market and as the time goes by, it is harder and harder to mine them. The great thing about Bitcoin is that it offers sound and predictable monetary policy and anyone can verify it. The sound policy is one of the most important features because it’s possible to how they are created and how many of them are in circulation.
The price of Bitcoin
There is no official price. Basically, people determine the rate and how much they are ready to pay for one Bitcoin. The price is represented as the cost of one Bitcoin. On the other hand, exchanges will allow you to buy any amount, and you can even buy less than one Bitcoin. Many experts state that people who invested in Bitcoin in 2009, now they are millionaires.
When should you buy?
Compared to any market, nothing is guaranteed. When we look at the beginnings of Bitcoin, the price has increased rapidly and followed by a slow downfall, until it stabilized. Considering that Bitcoin is global, it is not influenced by the government situation and stability. Compared to physical currency, any disturbance that happens on world’s financial market can only contribute to the price of Bitcoin because not any state or government can influence its progress.
Where to buy
It all depends on your native country or country where you reside. If you want to purchase Bitcoins, then we suggest the Coinbase, this is the most prominent broker, and it covers the U.S., UK, Singapore, Canada, and majority of European countries.