You don’t need an introduction about this word Bitcoin. You would have probably heard of it hundreds of times till date. But if you are wondering if Bitcoin is a good option to put your money in, then you are in the right place. Here I would clarify all your doubts about Bitcoin and help you to figure out if you could invest in it.
If you transfer your money online, the one thought that chases you is its security – if it reaches the right person or it gets hacked in the middle. No matter how secure the app you are using, you at least get this thought once.
Bitcoin eliminates this fear. Bitcoin is cryptocurrency which is completely encrypted. It uses Blockchain technology which makes Bitcoin fraud-proof. All the transactions are noted in a digital ledger which is public to all. All transactions are irreversible and cannot be duplicated once a transaction is done. Since the transactions are public, they cannot be manipulated or overwritten. This makes Bitcoin transactions extremely secure from hacking. It doesn’t reveal the information of people involved in transaction ensuring the privacy.
Conventional paper currency is regulated by the government. When you transfer money from a bank account to another, it is not happening from your device to another. There are banks involved in the process, which means on every transaction some of the commission would be shared to them.
Bitcoin is decentralized, which means it is not regulated by any authority. When you transfer Bitcoin, it transaction occurs directly from wallet to another with no middle man involved in the process. It simplifies the transaction process.
Today, Bitcoin is nothing less than Gold. It is seen as digital gold. Its value is increasing miraculously day-to-day. Recently, Tesla has announced that it would accept crypto as a mode of payment to buy Tesla Electric cars. Slowly, all companies would turn to this mode. With the increasing acceptance of Bitcoin, its value also increases with time. Most probably, they are going to be future currencies.
Easy to access:
At a point of time, the value of Bitcoin remains the same globally. Unlike we have Indian Rupees, US Dollars, and many more currencies across the globe. There are no such divisions in Bitcoin. You can buy, sell, and trade with Bitcoin from anywhere from the world. The value of Bitcoin would be the same everywhere.
Diversify your portfolio:
Lastly, if you are someone who is already into investments and trading, Bitcoin is a good choice to invest in to diversify a portfolio. Investing in Bitcoin is no different to investing in the stock market. There are multiple Bitcoin trading platforms available, do your research to find a suitable app and try to invest a part of your amount into Bitcoin. Bitcoin has the potential to be a game-changer in your life. There are risks everywhere, but it doesn’t mean you should avoid it. Get yourself educated about it and then try your luck. You never know what is going to be the next major change.
These are major advantages of Bitcoin. But, like every other thing, there are some potential risks involved in it. Bitcoin is highly volatile in nature. Its value is difficult to predict. The fall in value might land you up devastating losses as well. So, to play Bitcoin safely, you need to keep yourself updated with the latest Bitcoin news regularly. www.novinite.com helps you to get updated with up to date and accurate Bitcoin news. Subscribe to it, learn about Bitcoin, invest in it and make profits with Bitcoin.