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To buy Bitcoin or not to buy Bitcoin? It is one of the biggest dilemmas young investors are facing across the world today. While a lot of positives about Bitcoin have been touted in the market, many negatives have been discussed as well. We understand if you are worried about if you should invest in cryptocurrency or not. All you need to do is read ahead before you learn how to buy bitcoin in Canada.
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To buy Bitcoin or not to buy Bitcoin? It is one of the biggest dilemmas young investors are facing across the world today. While a lot of positives about Bitcoin have been touted in the market, many negatives have been discussed as well. We understand if you are worried about if you should invest in cryptocurrency or not. All you need to do is read ahead before you learn how to buy bitcoin in Canada.
The first benefit is that its rules are rigidThat too, in a positive way. The makers of the cryptocurrency have announced that only 21 million Bitcoins will be circulated in the market. No more Bitcoins over that number will enter the cryptocurrency market. It is very different from what other forms of currency do, wherein they can be printed without any cap on it. On another level, it is a cryptocurrency that is going to remain scarce, which is why its value is only going to increase with time. As an investor, this is something that should attract you to invest in it.
The second benefit is that Bitcoin is transparentWhen you look at traditional institutions of finance, they have a lot of systems in place that do not make it transparent. On the other hand, Bitcoin works on blockchain technology. So, you can see exactly where your funds are going. It also has the added advantage that it is not owned by any institution. So, you can rest assured that there is complete decentralization in the cryptocurrency market as well.
The third benefit is that no country can ban BitcoinWhat they can do, however, is stop institutions within their country from accepting it as a form of payment. But they cannot ever truly ban it. You, as a user, will still be able to access the cryptocurrency as it was never controlled by any particular institution, to begin with.
The final benefit is that it will not cost you a lot to transfer BitcoinAs opposed to other currencies, where international payments can cause a heavy burden on your pocket, paying in cryptocurrency is more cost-effective. While transferring Bitcoin also does have a fee, depending on the value and usage of the block, the fees are still cheaper when compared to the fees levied on international transactions of traditional currency.
Now, let’s start to tradeYou are probably now thinking how do I buy cryptocurrency in Canada. As it is a new form of trading altogether, you might have many questions in your mind. However, you do not have to worry much as the process is fairly simple.
The first thing you need to do is find a reliable exchange like Netcoins. When you trade on such a platform, you can rest assured you will have a smooth trading time. The next thing you need to do is open an account and register. Transfer your money into this account, and you can begin trading.SOURCE CREDIT: https://netcoins.tumblr.com/post/655325654081994752/if-youre-hesitating-about-buying-bitcoin-read
