Ponzi schemes have been around so long that even a novice financial expert can confidently identify and explain how they are doomed. After Bernie Madoff got caught duping well-educated and affluent victims, the general public got scared about making investments in financial products that weren’t regulated by the government. Bitcoin has changed things. The cryptocurrency has already made people millionaires several times over, usually against the advice of their financial planners. People with little experience in financial planning or management have used their computers to mine for bitcoins, and have literally struck gold. So, why is this scary to financial experts? Simply put, Bitcoin is unchartered territory that could go boom or bust.
Anyone Can Invest
Bitcoin is incredibly simple to obtain. Of course, you have to know which trading companies are reputable and have an idea of where you will store your coins, but the actual act of buying and selling couldn’t possibly be any more straightforward. Historically, if you bought Bitcoin at any time other than the last two weeks of 2017, you’ve already made money. There are pretty much no other known financial products that have produced such incredible returns on investment. That’s why there are hundreds of thousands of new Bitcoin investors every month.
Bitcoin Isn’t Difficult to Understand
It is kind of weird at first to think that Bitcoin, the world’s first cryptocurrency is becoming more popular than the stock market with all age groups, but it is the real deal. If you want to buy Bitcoin, you can do so quickly and anonymously. When you go to sell Bitcoin, all you have to remember is that your profits are taxable. There isn’t a lot of history, so there isn’t really much for investors to learn, at least not at the present. What you need to know is how much you want to invest.
Bitcoin is Leveling the Playing Field
Before stock trading accounts could be signed up for online with minimal initial investments, you basically had to rely on stock traders and financial advisers to even get involved in the stock industry. To make a trade, you had to get on the phone, get a hold of your stock trader, and push a trade through, and all of those steps took time. Now, all you have to do is type in some numbers and click the ‘confirm’ button to either buy or sell stocks.
Bitcoin started out as an alternative to what is sometimes regarded as non-inclusive financial areas. The average person doesn’t have a financial adviser, but you don’t need to listen to anyone’s advice to do well with Bitcoin. In fact, it appears that people who have done the best are the ones who didn’t listen to naysayers about Bitcoin a year ago.
You can find a lot of speculation about Bitcoin all over the internet, but remember, up until a few years ago no one was talking about it in the mainstream. Bitcoin has existed for a decade. So, chances are that if it was going to go up in smoke, that would have happened a very long time ago.