We are sharing them every day through social media. We created the most significant stocks of them on 4chan, 9GAG, BuzzFeed, Reddit. Yes, we talk about memes which became an exceptional kind of religion.
Do you remember favorite memes of 2008-2009?
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I am totally convinced, you don’t, not including another thing – Bitcoin.
Why Bitcoin was, is and will be worth using?
Due to its Internet, “non-burner phone” and multitasking nature.
The 21 million Bitcoins come to be hard-mined, but this cryptocurrency is created to:
- provide transparent monetary policy;
- be verified by anyone;
- wipe out currency world borders;
- be censorship resistant;
- make cross-border payments easy and possible;
- be non controlled by local governments and political systems.
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These reasons captured millions of brains and forced people to make substantial investments.
You may know the “genesis-block” close standing millionaires: Gavin Andersen, Yifu Guo, Winklevoss twins, Tony Gallippi, Jered Kenna, Dave Carlson, Charlie Shrem, Roger Ver, Ross Ulbricht. All of them were not in two minds while deciding to invest in Bitcoin.
So, I think, it won’t be a great deal for you to understand why investing in Bitcoin is enough said.
What is investing in Bitcoin?
Most of the cryptocurrency users will say that investing in Bitcoin is buying it.
The reality is that the answer has variants, owing to who you ask: hodler, miner, trader, etc.
Hodling
HODL (“Hold On For Dear Life”) – the definition of a person who buys cryptocurrency and holds it, because of believing it will be more profitable in the future. This term appeared in Reddit post of user GameKyuubi on December 18, 2013.
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Hodlers buy Bitcoin when they believe it will appreciate in value, or, in simple terms, it will rise against the $.
Yes, you are right, it is only a guessing game. The price of btc can’t be predicted.
I have already published an article Will ETH beat BTC someday? with the answer about the future price.
Hodling is about considering btc to become a long-term trusted store of value.
If to your mind the price of btc will be near zero, you’d better not invest.
But if it seems to you that the price will have at least 5% chance to become valuable, why not to invest in? It is not dicing with death, but a calculated risk.
Mining investments
As you may know, Bitcoin – is a non-paper currency, it is just a computer code lines. Thus Bitcoin can’t be printed, it is mined.
Nowadays Bitcoin mining is profitable only in case it is done in significant amounts. For that end, you will first need to buy suitable and expensive equipment and have access to a constant and free source of electricity.
IMHO, you’ll spend less while buying and not mining cryptocurrency.
Bitcoins trading
Trading Bitcoins is similar to trading with other things. You just buy it at the lowest price and try to sell at the highest or middle cost.
Successful traders are not only smart people, they are professionals with in-depth knowledge of what they do, and they have a great experience in their business.
Be aware of traders, because if you are a newbie in this question, they will probably wait for your clear mind and will puzzle you just in seconds.
Are there some risks in Bitcoin investments?
It is common knowledge, and risks are present everywhere in our day-to-day lives.
I suppose you to remember the following words before investing into Bitcoin:
Volatility
Or, again said, guessing game. The volatility of Bitcoin can be traced in it’s Market Cap numbers.
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Bubble nature
Lots of experts consider Bitcoin to be a short-term bubble (for instance, Jamie Dimon).
Some of them think that Bitcoins do not worth your attention if compared to fiat money.
Legal challenges
The problem is that not all the countries and governments understand the nature of Bitcoin and respect it in a right way.
They consider Bitcoin and other crypto assets to be the biggest enemy of the local economy and fiat money. Also, Bitcoin using impose paying high taxes and fees on you in some countries.
NB: never invest more than you can lose.
When is the right time to invest in Bitcoin?
Bitcoin rules and price change just in the blink of an eye. Bitcoin price depends on the public supply and demand. It means that you have no chance to predict the right time for investment.
Some tools are helping you to understand and to analyze the history of Bitcoin’s rises and falls. However, here comes on of the risky points: volatility. There is no room for the precise prediction.
Where can I invest in Bitcoin?
I mean where I can buy Bitcoin?
Here come different options: buy/sell Bitcoin through the exchange, buy/sell directly with your family or friends, use TRASTRA solutions.
Currently, TRASTRA allows Bitcoin users to get free Bitcoin and Ethereum wallets, and to buy/sell btc and eth with IBAN accounts through SEPA wire transfers.
Read the full description of TRASTRA options here.
