publish2017-09-16 4:34 pm

Should I invest in cryptocurrency?

cryptocurrency should i invest?

This rather simple question about if you should invest in Cryptocurrencies or not. It is a common matter of discussion by investor worldwide. The current quote for a Bitcoin is more than three times the quote for an ounce of gold. It has overpass the 4200 USD. The widely acceptance of the Bitcoin by the general public and retailers across the globe has made bitcoins to be used as a payment method in over 100.000 stores and service providers. It has generated an unpreceded interest for this type of assets making its price skyrocketing. The Bitcoin revalorization is beyond expectation and the profits it has generated, make dream anybody. An inversion of a couple of hundreds back in 2009 or 2010 has a current market price of more than 15 millions USD. This kind of return is every investor’s dream and of course a lifetime opportunity.

What are Cryptocurrencies?

A cryptocurrency is a digital created payment method or a digital legal money. It is a legitimate asset, similar to a Bank note or a regular metallic coin or paper bill. You can use it to pay for goods or service where it is accepted, or to save, or trade, or invest. A private person creates the cryptocurrency, with no official ties to a Central Bank; therefore, this digital currency is free from Central Bank regulation. There are currently more than 900 cryptocurrencies with the Bitcoin as the king of them.

Why should you invest in cryptocurrency?

Investing in cryptocurrency had been proven a lifetime opportunity when you do it at the right time with the right price. Those who spend back in 2009 less than 30 USD bought around 5000 units. On 2012 the quote was 14.5 USD, making the 30 USD worth more than 71.500 USD. Now, if the investor kept it for a couple of year in 2014 the quote for it reached the 1.200 USD, and today it is 4.235 USD. It is a return of more than 70.660 times your inversion.

After reading the preceding paragraph, you must agree that investing in a cryptocurrency such as Bitcoin is an excellent idea. However, here the same market principles apply; you need to know what you want and what your goals are. Additionally, this is a highly volatile and speculative market.

What you should consider when investing in Cryptocurrencies

·Investing buying cryptocurrencies and holding then over time, requires that you buy them very low and wait until it price reaches a desirable high.cryptocurrency bitcoin

·Trading trade cryptocurrencies is a helpful approach to the current Bitcoin market condition, buy low and sell high in a couple of hours or days. Trading bitcoins is part of the portfolio of hundreds of professional brokers and expert traders. The same theories and strategies used for other assets trade or the stock market apply to Bitcoin and other cryptocurrencies.

·Cryptocurrencies values are determined by the market alone the offer and demand are the kings for the asset’s price. No government agency or central bank interfere or help to stabilize the cryptocurrency price. Therefore, its price can go to the sky one moment and fall to the floor the very next.

·Highly speculative market. The open market theories and laws apply to this asset. You must do a technical analysis to understand where the asset’s price is and where it will be in the near future if you are a trader. On the other hand, if you are an investor you must do your analysis to be sure the price will be higher or keep moving upward by the time you expect to get the dividends.

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What you should know before investing in cryptocurrencies

  • Be sure it is legit. After the extraordinary Bitcoin performances and it is widely accepted. Several new cryptocurrencies have been offered. There are more than 900 hundreds different cryptocurrencies on the market today. Therefore, you need to do your fundamental analysis and go over each one you want to trade or invest and be sure, it is legal, how popular it is, who and where it is accepted, etc.
  • Learn how fast you can exchange it for a government money since you are an investor your primary goal is to get profits from your transaction. Therefore, you need to be ready to exchange it when you desired or if you are a trader when your asset reaches your expected level.
  • Buy only from reputable brokers apply the same safety measurements as you may need for any inversion, or trading and be sure you are getting what you pay for. Buy cryptocurrencies from certified seller or broker with good trajectory.
  • Keep them in your wallet,anybody who has access to your Bitcoin is the owner and can trade it. Additionally,I highly recommend you to open hardware wallet and also write your Bitcoins wallet on a notebook and keep it safe. If you lose your wallet number, you cannot access or trade your bitcoins or other cryptocurrencies.
  • Invest only the money you won’t needif you are buying to hold them over time; you need to be sure you will not need the money and can wait until it reaches your expected point or the maturity time you wish for it.
  • Be aware of the bear market. There had been several occasions when the cryptocurrency’s price crashed after the bubble burst. You need to consider this if you are buying at a high price.

Benefits of investing in cryptocurrency

·Excellent dividends, buying cryptocurrencies at the right time could be your lifetime investment opportunity. The massive profits Bitcoin has given to its owners are above any imagination.

·Encrypted inversion only you will know how many bitcoins have, or how much they worth, or where they are held. No government agency has access to your bitcoin wallet. Your cryptocurrency money is kept secret.

·It is widely accepted as payment by merchants more than 100.000 stores, and service providers accept cryptocurrencies as a payment method.

·Limited supply there is a fixed amount of cryptocurrencies which keep a good demand from the buyers in the market.

In a nutshell, a cryptocurrency is a digital payment with is made by a private person or entity, without the control or governance of any Central Bank, It can be trade and sell. The market determines its nominal value. It is an excellent trading asset.

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