Is It Feasible To Invest In Bitcoin?
Chances are that you are reading this article after the latest frenzy of Bitcoin value jump that saw it just shy of the $20,000 mark. Now you are looking for reasons to invest in this cryptocurrency and the blockchain technology. Here are some of the reasons you should:
MORE TO COME
The first thing many people think, when they hear of the current price, is that they are too late and people who are still buying Bitcoin are just jumping the bandwagon. In truth, with years of mining to come and the currency is still in infancy (more like teenage years), the value of it is still to rise and it is a sound investment.
Blockchain is not just about cryptocurrency. Cryto It is the future of supply chain and fighting counterfeiting. Super smart protocols such a DAO (Decentralized Autonomous Organization) and Smart Contracts are a few things to stem from blockchain that automate workings of an organization and transaction of money.
Every day people are robbed and bank heists are done. Bitcoin and Blockchain ensures that the money stored in your digital wallet is at a security level that is extremely safe than the virtual number depicting your cash in your local bank.
Ever had the bad experience where you need to send some money to the other side of the world and the amount of charges for currency conversion, opening Letter of Credits, banking charges etc. made you cringe? Bitcoin does away with all that. Since there is no banking system when it comes to cryptocurrencies, there is no intermediary like a bank. You can avoid all these excessive charges by sending money directly to the intended recipient.
TIME IS MONEY
Did we mention you can send the money directly yourself? That saves you the time since you do not have to fill in forms and applications. Just ask for the receiver’s public address and click away the required amount.
Since Bitcoins are limited in number (only 21 million will ever be produced), the value of this cryptocurrency cannot be devaluated as the limited supply but an ever increasing demand means that it is self-floating currency. No inflation translates to an excellent investment.
Remember the Greek financial crisis where the city councils were asked to hand over extra cash to the central bank? With normal currency, the central bank is the owner, not you, and can force you to give it back to them. Bitcoin is owned by no one, but yourself for the amount in hand. No one can force it away from you.
It is not too late to invest in Bitcoin and Blockchain, but like any other currency, the future cannot be predicted. Study the charts of your preferred bitcoin exchange soundly before committing to an investment.