What You Should Know About Bitcoin Before Investing

2017 was a profitable year for those who invested in bitcoin. They were rewarded with over 1,000 percent yields, and the returns increased up to $20,000 by December of the same year. Nonetheless, in 2018, crypto prices took a turn for the worse with its value dropping below $4,000 by the end of the year. The abrupt decline in cryptocurrency value made many people think that the crypto balloon may have finally burst. However, according to research, there are plenty of reasons why you should still invest in Bitcoin in 2019.

Before deciding on whether to invest in Bitcoin or not, you must familiarize yourself with some basics about bitcoins. Here are some facts about bitcoins:

  • Bitcoin is a digital or virtual currency that offers lower transaction charges than traditional online payment techniques. It was created in January 2009 by an unidentified person whose codename is Satoshi Nakamoto.
  • The crypto market and cryptocurrency are entirely independent and are not regulated by government authorities such as central banks.
  • The value of bitcoins depends on the faith of the investor.

Moreover, the number of bitcoins is uncertain at any one moment, making it very volatile.

  • Before purchasing crypto coins, you need to have a connected digital wallet to your bank account, credit card, or debit card.
  • Traders can join the exchange market to trade bitcoins for traditional currencies or vice versa.

Some of the main reasons why you should invest in crypto coins include

1. It is the Simplest Way to Invest

At first, investing in bitcoins can be quite tricky, hectic, and you risk incurring terrible losses if you are not careful. Nonetheless, the emergence of companies such as nakitcoins.com has made the process of investing in Bitcoin smoother and more manageable.

Investors can quickly acquire information and knowledge on how to invest in cryptocurrencies, hence avoiding being shortchanged by existing cons and fraudsters.

2. Cryptocurrencies Have A Bright Future!

Experts cite that for one to become a successful investor, you must focus on the long-term viability of your investment. Two common characteristics of the cryptocurrency market are that it is very volatile, and price fluctuation is continuous. It means that depending on the market environment, you can earn huge profits or incur significant losses.

For example, the value of a bitcoin hit its all-time highest of $20,000 on December 2017, followed by substantial price depreciation to $3,000 in December 2018. As of May 2019, the value of a bitcoin was estimated to be about $6,000.

3.Availability of Alternative Options

Bitcoins have dominated the market since 2009. It has enabled people to learn the best techniques and strategies to invest in crypto coins. The emergence of other digital coins such as Ethereum and Litecoin allows investors to not only invest in bitcoins but also try other digital currencies.

However, it is vital to keep in mind that every investment is a risk and having a portfolio of investments helps you to minimize losses.

Conclusion

Hopefully, you’ll get the ideas and thoughts in your mind should you invest in the Crypto in 2019, if you? then do share this post with your friends who are also into crypto and bitcoins and let them know when you should start investing in the crypto.

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