Bitcoin: Whether to invest or not? Following presentation will help you decide. Cheers!
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If you are wondering whether to make investments in bitcoins or not, it is necessary to understand that this form of investment is fast becoming popular across the globe and have been in the financial news off late. It is also considered to be among the well-known cryptocurrency. Popularity of bitcoins
Financial experts suggest that bitcoins are safe to be invested in. but to make profits, you are to understand better about bitcoins, what they are and how they work, etc. Taking hasty decisions will only mean unwanted losses, which no investor would like to experience. A safe option
It is called digital currency or cryptocurency. Basically, it is online money. Similar to any type of currency, bitcoins can be exchanged with the other currencies, like purchase bitcoins using American dollars or vice-versa. Related to other currencies, it fluctuates. But it is decentralized, which means there is no single central bank, government or country regulating it. This also means, it is not susceptible to central or bank mismanagement. About bitcoin
Since it is decentralized, it means that bitcoin (money) can be sent across to a friend residing at any part of the world within seconds. There is no need to go through any bank intermediary or pay banking fees. It makes bitcoins popular among investors. Payments all over the worlds can be made within seconds or minutes. Easy to send across money
Total of 21 million Bitcoins are to be mined only. This automatically limits the bitcoin amount to be produced. It is just like the government having a limit to print money, due to limited bill supply and not print anymore. With set supply, purchasing power gets preserved and currency gets immune to any runaway inflation. Limited supply
Limited supply of bitcoins also has helped towards contributing rise in bitcoin price. Current which can be inflated or printed will not be preferred by investors, especially those who do not want to become victims before the whims of any greedy government. More profits
There are many who assume it to be completely anonymous, which is not. Rather, it is more private. It is on the Blockchain that all bitcoin transactions can be noticed, which is public Bitcoin ledger. Private
For staying competitive, businesses are required to take MasterCard or Visa, which comes with substantial fees from sales transactions made. But bitcoins accepted by merchants are free from hefty fees. Affordable transaction
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