Bitcoin has been trending for a while now as the currency for the digital age and perhaps you are trying to understand how it works. Since its invention in 2009, it has gradually grown to be one of the most discussed currencies throughout the world today. The numerous benefits of trading with this currency have made a lot of people embrace the bitcoin lifestyle while they constantly look forward to the day bitcoin is accepted everywhere and we can go fully digital with payments.
Investing in bitcoin is a great idea, considering its growth in recent years and as of June 16, 2020, one bitcoin was worth about £7,531. The future for this cryptocurrency looks promising and this article highlights a few more reasons why you should invest in Bitcoin.
Prices Will Keep Growing
More people are willing to invest in Bitcoin now than ever before due to the returns some older investors reported to have gotten over the last decade. The rate especially skyrocketed between 2015 and 2020 and if you had invested 5 years ago, you would have up to 2,015% in profit today. A recent comprehensive analysis predicts that the price of bitcoin would rise to almost $400K by 2030.
The demand and value for bitcoin keep increasing, as more people seek to know and understand how it works and it is also being accepted as a form of payment in certain places. More businesses are also realizing how bitcoin payment might be the best option for them. This growth doesn’t seem to be ending anytime soon and you don’t want to wake up someday ten years from now and wish you had invested in it today.
Bitcoin Has Some Authority
There are other cryptocurrencies available today but bitcoin still gets talked about the most, as it has established its authority in the crypto world. It has proven over the years to be secure and you can trust your investment in it based on its track record. If you are considering investing in cryptocurrencies, starting with Bitcoin might be a great idea.
Everyone Should Invest in Something
Learning about the basics of investing is free and you can take advantage of all the free and helpful resources you can get to help you get started. Whether it is bitcoin or stocks or real estate, everyone is encouraged to invest in something to make better returns in the coming years. There are many platforms today that make the process seamless, so that anyone, regardless of their level of knowledge on investments, can get on the train.
Investing in bitcoin is one of the easiest to learn, which is why it is mostly encouraged for beginners in investments.
It Has Its Risks Too
Like every other form of investment, investing in bitcoin has its risks. This includes possible loss of investment, the absence of a third-party body to regulate your money, cybertheft, and more. However, you can prevent or reduce the possibility of it happening by keeping your details secure and also gaining new knowledge on how bitcoin works and the best way to invest in it without losing.