There are many conceptions around bitcoin investment. People think that it might not be best for them to invest in bitcoin. Some people are skeptical about bitcoin because both the experts and hackers have made it difficult to start investing in bitcoin. Experts have different opinions about the future of bitcoin, and scammers make people worried about losing their investment. However, there is nothing to worry about investing in cryptocurrencies like Bitcoin as it is one of the best ways to make huge profits as of today.
What are cryptocurrencies and why should you invest in Bitcoin?
What are Cryptocurrencies?
A cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their currencies, often called tokens, and these can be traded specifically for the goods or services that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for cryptocurrency to access the goods or services.
Cryptocurrencies work using a technology called a blockchain. Blockchain is a decentralized technology spread across many computers that manage and record transactions. Part of the appeal of this technology is its security.
According to CoinMarketCap, there are more than 13,000 different cryptocurrencies traded publicly. And cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs. The total value of all cryptocurrencies as of the time of writing this article is more than $2.7 trillion, The total value of all Bitcoins, the most popular digital currency, is pegged at about $1.16 trillion.
Are Cryptocurrencies a Good Investment?
Cryptocurrencies may go up in value, but many investors see them as mere speculations, not real investments. The reason? Just like real currencies, cryptocurrencies generate no cash flow, so for you to profit, someone has to pay more for the currency than you did.
Despite the volatility and fluctuations that characterize the crypto market, crypto investments are seen to be extremely beneficial in the long run. They can act as a reasonable source of savings post-retirement or give you some much needed financial buffer during a sudden economic crisis.
One aspect of crypto that people love is its asymmetric nature. What does it mean? It means that the risk to investing in crypto and the gains are not symmetrical. Whatever you invest in crypto is what you stand to lose. However, the profit you can make from a single investment cannot be underestimated. How does asymmetric investing work?
Let’s say you decide to invest $1000 into Bitcoin. You only stand to lose $1000. However, you can make profits above $1000 with that single investment. With asymmetric investment, you can turn $1000 to well over $100,000 while you stand to lose the $1000 you invested.
What you stand to lose is far less compared to what you stand to gain when you invest in cryptocurrencies. Imagine if you had invested $10,000 in January 2017, you would have $306,404 today. What if you invested in Binance Coin (BNB) in January 2019? Within the space of two years, your $10,000 would be worth $469,956. That’s a huge ROI on your investment from just 5% of your net worth. Do you see why you need to invest in crypto now more than ever?
5 Reasons Why You Should Save In Bitcoin
There are several reasons why you should invest in cryptocurrencies. However, here are our top five reasons why you should invest in Bitcoin.
- Adoption of Bitcoin for Practical Applications: Just like the adaptation of the internet, bitcoin is also being adopted by our society. More and more businesses are ready to use bitcoin as their primary currency. Bitcoin is integrating into our society with the passage of every single day. If you want to take advantage of bitcoin’s growing power, you can visit this bitcoin site right now to have this power in your hands. The story of bitcoin has just started. Conventional fiat currencies are becoming obsolete as they can’t be the ultimate solution to modern-world problems. One has to wait for days to receive an international transaction.
In most cases, the use of fiat currencies brings more taxes and more worries. However, with the rise of bitcoin, all of these problems will eventually alleviate. Bitcoin is the future of money as it brings the most useful solutions that everyone needs. Countries like El Salvador are on the right path as they accept Bitcoin as legal tender.
- Learning About Investing is Free: In conventional investments, one has to spend years learning the basics of investment. You can’t buy some clothes and start selling them to others in a single day. In the same way, a beginner can’t get into the stock market and try their luck. Time is the ultimate money, and to learn about conventional investment, one has to spend a lot of time. This requirement of a lifetime to learn a traditional investment makes it very expensive.
On the other hand, learning about bitcoin investment and making profits is very easy. Using great platforms like the one mentioned in the above paragraph makes it very easy for new investors to learn and understand the hidden bitcoin secrets. It takes considerably less time compared to other investments to learn bitcoin investment and make profits.
- The Price of Bitcoin will Keep on Growing: Seeing the benefits of bitcoin investment, more and more people are ready to invest in bitcoin. This is a very beneficial aspect of bitcoin for bitcoin investors. As the demand and value of bitcoin increases with more people than ever using bitcoin as the primary currency, the price of bitcoin will eventually increase.
With the passage of every single day, businesses understand that bitcoin is the ultimate solution to their everyday problems of handling money. This trend of the usage of bitcoin will eventually attract both small and large businesses to choose bitcoin. The more people love bitcoin, the higher its price in the market. Keeping this aspect in view, it is a matter of time that bitcoin will increase the profits of manifolds for all the bitcoin investors.
- Bitcoin’s Dominance: As you may already know, there are thousands of cryptocurrencies other than bitcoin. Many other cryptocurrencies are using new marketing tactics and present significant benefits to their users. However, bitcoin is on the top because Bitcoin is one the backbone of almost all other cryptocurrencies. Being the first player in the market, bitcoin has the ultimate advantage over other cryptocurrencies trying to make their way to the top. Bitcoin has proven to be a secure and reliable company, while others are still struggling to win people’s trust.
- Control Over Your Assets: The decentralized nature of crypto gives you control to own and store your assets without the involvement of a third party. The value of the assets is not determined by the exchange, or a middleman, giving you the liberty to avail maximum profits from the prevailing exchange rates.
Saving in Bitcoin is becoming the smarter investment choice for a lot of people today. HaggleX allows you to save in Bitcoin however you want. With the CryptoSave feature, you can save in bits with the flexible plan or save for the long term with the fixed savings plan and earn up to 21% APY annually.
With the most secure and updated encryption technology used to make sure users do not have to worry about their crypto assets, HaggleX is the best option for you to save in Bitcoin.
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