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Should I Invest in Bitcoin now


Oct 15, 2017 Posted /  25806 Views


Should I Invest in Bitcoin now

Launched in the year 2009, Bitcoin is the first digital currency, popular worldwide. It is an open source, decentralised electronic currency. At its core, Bitcoin is not governed by the federal government or any banking institution. Here, no transaction cannot be manipulated or hidden, since, all the purchases are validated on a sort of international ledger known as the ‘Blockchain.’ It is a digital technology, which acknowledges each acquisition transaction of this cryptocurrency and bitcoin received and send on the network.


1.      Bitcoin in 2017- The Current Scenario

 

Bitcoin, explosively gained in popularity in every nook and corner of the world, specifically, when the price of Bitcoin seen a massive upswing from 216.91 US dollar in the year 2015, January to 697.37 US dollars for the month October 2016. Additionally, from 538 ATMS’ in January 2016 to 838 November month of the same year, Bitcoin is reaching the masses, thanks to its length of advantages for both businesses and commoners.

 

2. Bitcoin- Still a Long way to Go

 

Contrary to the above stats, a recent survey throw light on the lack of popularity of Bitcoin among the common people, it reported 39 percent of Americans have never heard of the term ‘Bitcoin,’ while 76 percent don’t know how it works. Light at the tunnel, Bitcoin transactions are most safe and secure, compared to other digital or cryptocurrencies, and the transaction fees are quite low. The future of this virtual currency is prosperous if it overcomes all the hurdles, and people worldwide trust Bitcoin to carry out their daily transactions. In the coming years, it will become one of the trusted online payment means.

 

3. Bitcoin- An Ocean of Opportunities

 

Bitcoin, continue to evolve with every passing day, till the first half of 2017, the value of Bitcoin has reached an all-time high. However, many of us still wonder is now the time to invest in Bitcoin?

 

As a cryptocurrency, Bitcoin has proven perks, it’s digital nature makes it durable, divisible, and hyper-portable. Since, its decentralization, it doesn't behold the vulnerabilities of national currencies, and perfectly transferable across the democracies.  

 

4. Bitcoin- Defying the Odds

 

Ever after facing great resistance from stubborn governments and conventional-minded people, Bitcoin is heading the right direction with value soaring. In the year 2014, it succeeds to defy the campaign of US Internal Revenue Service to stop Bitcoin invading the economy of the United States of America by the ruling, taxes which are applicable on property transactions will also apply to every cryptocurrency sale and purchase. Overcoming this barrier, it was recently reported that many of the US states are going to introduce a bill to promote Bitcoin currency, and its nucleus technology, Blockchain. Vermont, located in the northeastern United States has already passed the cryptocurrency law. To quote the official website of Bitcoin, the law stated that this electronic currency is recognized as permissible to carry out financial transactions in the state. Arizona, the southwestern U.S. state also working on a bill that will term Blockchain and smart contracts legal.

 

Bitcoin Is a Flexible Investment

 

Bitcoin is a flexible investment, as it can spend and send anywhere and everywhere. Plus, you can do international monetary transactions with utter ease and 100% safety, no limitations as such. With Bitcoin, you are in total command of your financial assets, not going to the bank, no holidays, in simple words, Bitcoin is a metaphor for the quote ‘convenience meet comfort.’

 

With Bitcoin operating on the technology Blockchain, all the finalised transactions are transparent for you to see any time and anywhere, just need a personal computer with an Internet connection.

 

Bitcoin Has Less Inflation Risk

 

One of the single biggest perks of Bitcoin is, unlike, other robust currencies like the Dollar and Pound, this digital currency doesn't lose its purchasing power with time. Since Bitcoin is not printed by Bitcoin, its value doesn’t dip significantly. Supply and demand coordination defines the value of Bitcoin, by 2050 it is stated that there will be 500 bitcoins for one person.

 

 Bitcoin Has Seen High Appreciation Value

 

If you go through the Bitcoin exchange graph for the recent years, you will observe that with time the volatility of the value of Bitcoin is coming under control, stabilization is seen in the last six months, steadily rising on a daily basis.

 

5. Risks Associated with Bitcoin

 

Bitcoins Transactions Are Not Regulated

 

Bitcoin and all the other cryptocurrencies are not administered or regulated by governmental or central banking authority. Therefore, think twice before making a bitcoin investment. The bottom line, Bitcoin, tick all the boxes safety and surety to termed as a mine of financial opportunities.

  

Bitcoin Transactions Are Finalised

 

Unlike, credit and debit cards, bitcoin transactions are irreversible, irrespective of the fact you have an account on Bitcoin or not, or even kept in a virtual locker. Here, spenders don’t have the luxury of back charges. So, as stated above, think more than once before making a bitcoin investment.

 

Fraud Agents and Websites Dumping People of Bitcoins

 

Fraudsters are everywhere, cryptocurrencies are easy for them to exploit.  Today, there are thousands of fraudster agents and websites dumping people of bitcoins in the name of delivering high returns. So, if you want to keep your Bitcoin safe, know where you transact.

At the End of It All

 

To sum up, the above opportunities and risks will help you make up with mind  whether you should invest in Bitcoin or not. 


Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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