Investing in cryptocurrency such as making a bitcoin investment has been possible for some time, but it took a long time to gain traction by the masses for several reasons – bitcoin was new, it was technical and, for many, it was hard to understand. Additionally, it was unregulated and decentralised, tax implications were unknown, and for many investors, bitcoin was too different and too untested.
In fact, the inventor or founder of bitcoin was even unknown! Though recognised as Satoshi Nakamoto, it is not clear if that is a person, a group of people or something else altogether! Even some 10 years since its founding, its creator has still not been identified, which, for some investors, might be another reason to stay clear, at least for now.
Bitcoin drew the attention very quickly. It was an intriguing payment method for millions of investors, and it promised a revolution for finance. The most exciting thing about bitcoin is that payment transactions do not require to go through the intermediary. Thus, it eliminates the bank role, making all transactions processed directly from one user to another. Another significant benefit of this digital currency is that all the transactions are verified through cryptography. It ensures bank-level security (since banks also use cryptography) and does not give anybody access to funds of other users.
Thanks to security, transparency, and distributed model, bitcoin has become a valuable asset. People get bitcoins by mining – the process when the hardware is programmed to do calculations for the Bitcoin network. This process allows miners to receive digital coins as rewards. At the same time, it increases security. However, it is a complex way to receive bitcoins. But more and more traders prefer a more accessible option – bitcoin investments.
During its 10-year history, the idea of a bitcoin investment has become more widely accepted, especially by less risk-adverse, more technical-leaning traders.. At the tail end of 2017, when the price of the cryptocurrency climbed higher and higher, investors were investing! The crypto coin reached a high on 20 December 2017 at $19,783.21, having bounded up quickly in the preceding months.
But that is the way it often is: when prices are going where you want them, whether up or down, it can look like a great time to invest. And it might be: but choosing when to invest, when to buy and when to sell, should be based on many factors. These include a lot of analysis (fundamental analysis and technical) as well as thoughtful preparation and understanding of your trading goals – and not just rising (or lowering) value. You might want to ask yourself:
Whatever your answers, many people do choose to make a bitcoin investment based on emotion, which experts generally recommend against. So, when would be a good time to invest in Bitcoin? When you’ve evaluated the data, understand the technology and perhaps the alternatives, and after careful study have a good sense that the time is right based on, largely, analysis.
Bitcoin and the other cryptocurrencies – and there are scores of them – are considered quite volatile, with prices changing often, sometimes modestly, sometimes more wildly. As we know, volatility can be a useful tool for certain investors, such as day traders. But if you considering making a bitcoin investment or are thinking of investing in cryptocurrency in general (or any other asset, actually), it makes sense to study, read, talk to experts, analyse, and then decide if investing in a crypto is right for you. Because while investing in bitcoin might be a great move, it might not be. Better to have as much info as possible before you decide to jump into a bitcoin investment.
When you’ve decided bitcoin investment is right for you, you have a few choices. You can open a cryptocurrency wallet or buy a mining rig, or you can choose to invest in bitcoin via a CFD. CFDs let you trade on the price of an asset without being bound by having bought the asset, and CFDs also provide traders with the added benefit of being able to trade on a rising or falling asset.
Investing in cryptocurrency or making a bitcoin investment might be right for some traders. It’s cool and it sets out to do something that would change the world. It makes sense that some people are going to want to invest in it.
If you think you might be one of them, do you research, learn all you can, and then decide if a bitcoin investment is right for you. If it’s a go, check out the bitcoin CFD offering here at ROInvesting, where you can trade bitcoin via CFDs with leverage and other benefits including not needing to worry about those pesky bitcoin wallets.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||71.2%||55||$42 499.74||-1.69%||3.90%||$804 612 153 299|
|2||ETH||Ethereum predictions||67.2%||67||$3 240.18||-3.24%||7.66%||$386 221 666 258|
|3||BNB||Binance Coin predictions||71.2%||55||$471.64||-5.87%||13.52%||$78 669 453 462|
|4||USDT||Tether predictions||93.6%||1||$1.000291||-0.01%||0.01%||$78 422 379 350|
|5||ADA||Cardano predictions||74.8%||53||$1.48||4.97%||33.24%||$49 641 760 562|
|6||USDC||USD Coin predictions||92.8%||1||$0.999982||0.02%||-0.02%||$45 408 574 979|
|7||SOL||Solana predictions||60.4%||78||$142.41||-5.01%||7.28%||$44 738 935 131|
|8||XRP||XRP predictions||71.2%||58||$0.760679||-2.17%||5.13%||$36 256 323 649|
|9||LUNA||Terra predictions||71.6%||59||$80.99||-5.64%||18.07%||$29 003 031 725|
|10||DOT||Polkadot predictions||75.6%||53||$26.06||-6.24%||12.03%||$25 733 903 487|
|11||DOGE||Dogecoin predictions||75.2%||46||$0.168009||-5.80%||17.84%||$22 289 819 399|
|12||AVAX||Avalanche predictions||65.6%||76||$88.17||-6.02%||6.34%||$21 545 510 909|
|13||MATIC||Polygon predictions||70.8%||54||$2.27||-2.65%||14.59%||$16 595 998 407|
|14||SHIB||SHIBA INU predictions||72.8%||59||$0.000029||-5.71%||7.80%||$15 821 241 817|
|15||BUSD||Binance USD predictions||94%||1||$1.000713||0.14%||-0.01%||$14 457 507 802|
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