Things to Consider before investing in Bitcoin

Unlike other currencies; Bitcoin is a decentralized currency created and owned by individuals or groups of individuals. Being a real currency like dollars, pounds, and euro; it was invented back in 2008 as a digital currency to invest and trade globally.

Hundreds and thousands of people are trading and investing in Bitcoin. It has proved itself as the best digital investment ever. Bitcoin got take off in 2013 when a single bitcoin was equal to $13.50 in April and got the highest price in November 2013 which was equal to $1075.

Currently, 1 bitcoin is valued at $8725+. These historical based facts clearly indicate that it would increase in the future once any govt. officially holds and declares it to be a legal entity like Euro, Pounds, and Dollars. If you’re the one who is looking to invest in it.

Things to look before investing in Bitcoin

All investors do make investment decisions for the sake of making money. There are hundreds of online or digitally profitable investment options that brought investors interest in building their digital properties. Crypto trading is also considered the best investment option and from all the available currencies, bitcoin is the best option. There are the most important things you must know before making a buying-selling or investment option.

Demand and Supply Difference

The major reason for the increasing price is that Bitcoin has a low supply over its demand. Investors are stocking in wallets and supply is very limited that can suddenly fluctuate its prices. One bitcoin dollar reached its peak price of $20,000 back in 2017.

Different Prices

There are different prices of each bitcoin everywhere as bitcoin is being traded by different exchangers and price calculate on recent transactions. Always check bitcoin stock price today at one exchanger you trust before making any decision.

Different Investment Behaviours

Every investor has different behavior. Few make long terms investments and others are willing to get an instant or quick return. This uncertain bitcoin buying-selling behavior leaves no hint to predict the future. Anything can happen in the next few seconds. Things may bring positives for you but if suddenly people start selling – it will reduce prices

Wallet Security

Bitcoin is traded and stocked in digital wallets. Keeping your cryptocurrency secured is big trouble for less tech-oriented investors. There are many tools, password storing apps, encrypted hardware that make it a little tricky.

Decentralisation

Bitcoin is not centralized by any Govt. to date. As being decentralized, which means there’s no involvement of anyone but you – makes it vulnerable for cyber attackers to steal your assets.

Other Currencies

Currently, there are 4900+ digital currencies across the world. Bitcoin is the best trading option among all of them. As said earlier, cryptocurrencies are unpredictable and unstable – investing in only bitcoin or any single currency can be risky.

Set your targets

Bitcoin investment is like the forex or other trade investments which has both profit and loss. Being investor; a clear target of investing, making profit/loss from the invested is highly appreciated. Making unplanned investments can take everything off.

Criticism on it

Bitcoin’s invention has an unclear origin which makes it a debatable topic in various markets. It is a digital asset or investment which any investor and creator as unable to touch.