The popular misconception that exists is bitcoin is not safe. This is one of the several myths that exist in the popular mainstream, about bitcoin, and cryptocurrency. The origin of the myth stems from the fact that cryptocurrency, blockchain, and bitcoin operate on a private or public cryptographic key system that is devoid of a centralized authority. What is unsafe is the trading platforms of bitcoins. Investing in bitcoins, or bitcoins, as such, are exceptionally safe. You just need to be aware of the trading platforms you’re using.
Whenever you’re making any financial investments, there’s risks involved. Even if it is market funds, you know the statutory warning it comes with: market funds are subject to market risks. It is the same with any investment. If you think your money is safe with your bank, and the year is 2020, you’re living a lie. Your bank can declare bankruptcy, you’d lose all your life’s savings. Or, the country might come under a seize, and you’d not see your money again! Safety is a bubble, we’ve created, which we live under.
But when we talks about bitcoins, they are relatively safer than the rest. There’s no middleman, involved, no third party interests or fees. You’re in entire control of your bitcoin, you determine who you send it to, and who you receive it from. Being in the driver’s seat, being in complete control of your bitcoin and its value, makes it the safest. Though it is a digital currency, a public ledger saves all of its transactional history, makes it a reliable and transparent source of income. Bitcoin exists in a volatile market, and is subject to market ups and downs. As it is a currency, the only way to invest in bitcoin is by buying it. It is not a company or a stock you purchase, but the bitcoin itself!
Whenever you’re investing, do not invest more than you can afford to lose. This stands true for all investments. Never leave bitcoin on an exchange, make the effort, and move it to your Bitcoin wallet. This makes your bitcoin safe! Paper wallet is good for starters, but the one most recommended by experts on the field, especially, for considerable value of bitcoin, is using a hardware wallet. It has numerous benefits, and increases the safety of your bitcoins, in possession, way more.
Whenever you’re buying bitcoins, make it a point to only buy it from exchanges that are reputable and renowned. Do not buy from shady investors, as they are not reliable. Take recommendations from friends, bitcoin pools you’re in, do market research well and basically, do your homework. To further proceed safely in your investments, we suggest you try Dollar cost averaging (DCA). With dollar cost averaging, you can buy a fixed amount every month for a fixed period of time. Now you might be wondering how this is beneficial, at all. You could rather buy all of the bitcoin value at once. But doing it via DCA makes you average the price better, for your bitcoin, over the entire period of a year.
Now, investing is basically buying, and you can hold on to your bitcoins. If you want to trade your bitcoins, you’ve to buy them at a lower price, and sell them at a higher one, making a profit. Trading requires research, trading requires knowledge. There are some trading software that you can access, and take aid from. Bitcoin Era is one such leading BTC software that can help beginners, and experts alike, in leveraging profits. Their algorithms help you trade well, by investing in risk-free zones, and their results are accurate. You’ve nothing to lose when you invest with good algorithms. Even if you’re an expert in trading, you can always use help. And, with proper trading platforms and successful algorithms, you can increase the chances of your profits.
Another way to invest is to mine bitcoins. Now mining is profitable, only when you do it on an exceptionally large scale. Rather than using mining equipment which needs considerable investment from your end, it is better to use your financial resources and buy bitcoin directly! Other ways to make money, while investing in bitcoin, is to do some good old online gambling, writing about bitcoin, providing services that are bitcoin related, being a part of affiliate programs, owning a faucet, having access to micro earnings, doing signature campaigns, and doing bitcoin lending.
The value of bitcoin in 2009 was $0.0009. The value has increased multiple folds, by now. If you’re wondering if you can convert bitcoin to cash, the answer is yes. Most people think you cannot, and hence think it is not safe to invest in bitcoins. You can find buyers of bitcoin through sites, and they can pay you in cash for the transaction. You can also change them to your fiat currency, for an exchange rate. The promises Bitcoin has is numerous. Do your research well and get started!