It is no surprise that billions of investors love Bitcoin — it is a secure and global digital currency with so much to offer. It is open to everyone and provides exciting opportunities to those that wish to delve into the world of cryptocurrency.
However, if you are a beginner, knowing where to go can be daunting and often confusing. With the plethora of exchanges available, it is important to know which ones are the most trusted and offer the best rates.
Why invest in Bitcoin?
There are many reasons you may want to invest in Bitcoin, but people are often attracted to the growing price. Cryptocurrencies are volatile, so you should always be aware that prices will fluctuate. However, if you want a long-term investment, history has proven that Bitcoin might be a worthwhile cause.
Bitcoin is also a pioneer in terms of payments. It allows for fast, cheap, and global transactions for all. It is also decentralised, meaning no government is behind it. This also means that third parties are not needed, which makes payments quicker and cheaper. Bitcoin is also becoming more and more mainstream in terms of who accepts it as a payment option. From travel to retail and even real estate, using Bitcoin as a payment option is becoming more popular.
Finally, if you are interested in becoming a long-term trader, Bitcoin is a great asset to add to your portfolio. Investments can be tricky to manage at the best of times due to market volatility, so this makes diversity key when trading or investing. Adding Bitcoin alongside other cryptocurrencies to your portfolio may just give you a better chance of making profits. In theory, investing in more than one cryptocurrency will help to minimise risks in the event that one coin suddenly plummets.
How to invest in Bitcoin
To buy, trade or hold Bitcoin, you’ll need to use an exchange. There is a large variety of exchanges available, based on your investment needs. If you’re brand new to cryptocurrency, you’ll want to invest in Bitcoin by buying it with your fiat. Many exchanges facilitate this type of purchase, allowing you to use your credit or debit card. Be aware, however, that this method can often lead to high transaction fees and charges from your bank.
Now you know how to invest in Bitcoin and whether it is the right decision for you. Bitcoin is, and probably will always be, one of the most popular cryptocurrencies, so many will invest in this diverse digital asset. So, is it time you invested?