Ever since its origination in 2009, Bitcoin has been making a splash around the globe. Lots of individuals have been on the fence about making an investment into crypto. Some people remain on the fence forever, and this is mainly due to confusion.
There is a great deal of confusion on how to invest, how to trade and sell, where to buy, and even what cryptocurrency actually is. The good news is there is no need to feel confused about cryptocurrency investment thanks to this advice from the top cryptocurrency PR company of 2019.
The Basics of Bitcoin Cryptocurrency
The digital currency known as Bitcoin has been around for a full decade, but it gained most of its traction within the past 5 years. Unlike other forms of tangible currency, Bitcoin is always held within digital means. This means you cannot visit an ATM to withdraw Bitcoin funds like you would with your traditional country’s currency. Here is a full rundown of what makes Bitcoin different from other currencies according to The Balance:
“Bitcoin is a method of payment or transfer of value that is independent of governmental authorities like central banks that traditionally control money supply and the availability of currency in the global market…Transfers are made via computer immediately with low transaction fees. Bitcoin does not flow through the traditional banking system; rather it flows from one computer wallet to another.”
Why Invest in Bitcoin
Some people find Bitcoin investment to be a fruitless endeavor, but that’s actually not the case. Simply put, the main reason to invest is that it is an investment. Just like the stock market, if you make an investment at the right time and do your research, you can double, triple, or skyrocket your Bitcoin investment to be worth a fortune.
Other than the potential for a fortune, another reason to invest is that Bitcoin is actually useful. Contrary to popular belief, you can actually use Bitcoin to make purchases from retailers around the globe. You can now use Bitcoin to purchase houses, flights, cars, and home goods. As long as you find a retailer that accepts Bitcoin as a payment method, your bits are 100% useable. And worse comes to worst, you simply sell your Bitcoin in exchange for more traditional currency.
How to Invest in Bitcoin
Now that we’ve cleared up what Bitcoin actually is. Perhaps you’ve hopped off that fence and finally decided to invest. But how? There are plenty of ways to invest in Bitcoin these days, and the number of investment methods continues to grow. In the past, it was uncommon to purchase Bitcoin through any other method than a bank transfer. Now, Bitcoin investors can use a credit card, debit card, cash, and even e-wallet transactions. The complete steps on investing depend on a few things, such as your country of residence. First world, highly developed countries like the US, Canada, and Australia have the greatest number of investment options.