Bitcoin has been on the news a lot lately. It’s a form of digital currency which can now be used to purchase goods in the real world. For many people, though, it is best to keep it as an investment. What are the biggest reasons for investing in this kind of cryptocurrency?
You Can Make A Lot Of Money
The price of bitcoin has rocketed, and seems to grow more every day. In fact, there are thought to already be10 bitcoin billionaires who have made all of their impressive wealth through investing in bitcoin. Investing $2,000 could have netted you a return of $16,000 in just six months. The growth is fast and doesn’t seem to be slowing down. So if you want to make a lot of money, investing in bitcoin could be the way to do it. There are no guarantees though, and you should only invest money that you can truly afford to lose. Although bitcoin is gaining steadily and rapidly for now, anything can happen. Trading is a tricky thing to predict. If you want to invest in bitcoin but you would like to spread your trading on other things as well, trading in foreign business such as that in Ras Al Khaimah, as recommended by https://www.thebusinessyear.com/, could bring you a good return. When you have the money that you have gained from carefully investing, you can start your own business, or buy a property, for example.
You Can Actually Buy Things With It
Bitcoin could be a great investment, as noted above, but that’s not all. Whereas with most investments you need to ‘cash out’ and could lose some of your revenue through exchange rates and broker fees, with bitcoin that’s not the case. Bitcoin itself can be used to buy items. Although it is still only a minority of physical and online shops that will accept this particular type of cryptocurrency, the number is beginning to grow as bitcoin becomes more and more popular. The demand for being able to use bitcoin as a standard currency is rising dramatically, so it is likely that we will soon see the bitcoin symbol in many a store window. Microsoft and Expedia already accept bitcoin, as do a handful of London pubs, and there is a branch of Subway that has started to take it as well. This is only the beginning.
Digital Is The Future
Everything changes. Look back fifty, twenty, even five years, and the world was a completely different place. It only makes sense that currencies and the way we are able to buy things will change as well. With the world in such a strange state of flux, there is little trust left in traditional currencies which seem to rise and fall at whim whenever there is even the hint of a new angle on world issues such as the financial crisis of 2008, war on terror, or Brexit amongst a plethora of other problems. Bitcoin – and other cryptocurrencies – are holding their own, though, and in a world of uncertainties, they seem a sure bet. As well as this, people are increasingly happy to do all of their transactions (and interactions) online, which makes a digital currency a good idea. The problem with bitcoin, however, and one that may need to be addressed before it can be more widely used, is that there is no centralized authority controlling it. This can make fluctuations impossible to predict so bitcoin is unstable.
If you want to buy or invest in bitcoin, it is an easy thing to do. If you have the funds available and you are looking to invest in something, bitcoin is far simpler to buy than many other currencies or trades, which is why so many people enjoy it. As well as the big return that is currently happening, the fact that there are many bitcoin brokers around who are vying for your business means that you can get a good deal if you shop around. Try to get a fixed price deal if you can because a percentage deal could mean a large amount of money going the broker’s way instead of yours if the prices continue to increase the way they have been recently.
It Is Becoming Mainstream
Whereas once upon a time, right back at the beginning, bitcoin was more of a fantasy than a reality, it is now considered much more mainstream both in terms of how it can be used, and how it is traded. If more people are taking it seriously, that means there are more and more opportunities opening up. We don’t know exactly where the future of bitcoin lies, so getting in at the start rather than getting in much later when everyone else has already secured some great deals is probably a good option for you. Bitcoin is not an endless supply; there are ‘only’ 21 million bitcoin which means that eventually they will run out, and then the real trading can begin. If investing in bitcoin is something you want to do, and if you have the money available to do it, investing for the long term sounds like the perfect goal.
Paper Money Is Disappearing
More and more frequently people are turning to digital methods of payment rather than cash. Cash used to be king, but this is no longer the case. Payment methods such as Skrill and PayPal are being used online because they are deemed to be more secure than using a bank card, and bitcoin is becoming another method of buying goods in this way. It is also, as mentioned earlier, becomingrecognized out in the real world too, and experts predict that it won’t be long before more mainstream stores will accept the cryptocurrency. It is likely that smartphones will have apps developed for them to make these transactions easier; you can already use your phone to pay for goods using PayPal or your bank account. The interesting point will come when creditors start to accept PayPal as a way of settling debt. Could this new currency be a way of setting thousands of people free from the debt cycle that they find themselves in?
The Global Demand Is High
Across the world, the demand for bitcoin, and cryptocurrencies in general, is growing exponentially. The United States, South Korea, Brazil, Japan, and China have some of the biggest bitcoin economies in the world, and the demand in other countries including India. The Philippines, and South America has surged. This is because countries across the planet can see that bitcoin is the currency of the future, and they want to be involved in this upsurge. It will help those countries struggling financially, and in times of economic uncertainty, countries will have something in reserve to fall back on. At some point, however, the currency will stabilize, but for now, it is growing all the time.
Governments Are Increasing Their Acceptance
Due to the fact that there is no centralized regulation for bitcoin, it will come as no surprise that governments were skeptical of how it would work, and even if it would work, when bitcoin started to be used as a payment method. Now that the system is tried and tested, and has been proven to be successful, their opinion (for the most part) has changed. Japan has officially recognized bitcoin as a legal form of payment since April 2017, and Australia and Russia are both close to agreeing the same thing. Even some banks have helped to finance bitcoin startups so that these businesses can develop new ways of making paying with bitcoin much easier and more widely recognized.
Bitcoin’s Image Is Improving
In the past, bitcoin had a problem. Its image was one associated with criminal activity for a lot of people. This was due to its anonymity, which allowed someone to send money to someone else without the need to disclose his or her identity. The proceeds of crimes, therefore, could be sent and received around the world, and the authorities would have no way of finding out who the culprit actually was. Bitcoin had another image problem on top of that as well, though; it was also thought to be ‘geeky’ or ‘nerdy’ and not something that really made sense in the real world. Wasn’t it all just an online role-playing,make-believe currency? Now the image of bitcoin has improved dramatically. It is no longer considered morally corrupt, and no longer thought of as something gamers use to buy spells with online (although, if they want, they will be able to do just that in the future, and possibly already can). Now people are understanding and realizing that bitcoin is a good way to buy goods, and is becoming much more accepted across the world, and in all aspects of life. Since so many people and so many reputable institutions are becoming involved in bitcoin, the chances are that it will even replace standard currency over time.