“Nothing in life is to be feared, it is only to be understood.”
– Marie Curie
Like most things tech, the realm of cryptocurrency can be a bit complex to master and is still new to many. But the benefits of purchasing this currency are surely worth your investment in both time and money. Experts have also predicted that it may be the next big thing in finance.
1. Crypto Trading and Investing
Bitcoin trading can be very profitable for both professionals and beginners. The market is new, where arbitrage and margin trading is widely available. The currency’s high volatility has also played a major role in bringing new investors to the trading market.
Compared to other financial currencies, Bitcoin has very little barrier to entry. If you already own Bitcoin, no verification is required and you can start trading almost instantly. Moreover, Bitcoin is not fiat currency. This simply means the price is not related to the economy or policies of any single country.
And unlike stock markets, there are no official Bitcoin exchanges. Instead, hundreds of Bitcoin exchanges operate 24/7 around the world. Because there are no official exchanges, this results in no official Bitcoin price andthe currency is known for its rapid and frequent price movements.
2. Personal Spending
Secondly is personal spending. There are millions of items now being sold for Bitcoins and this number is only increasing. You can use Bitcoin to purchase almost anything! From buying cars (Tesla) to travelling the world (Cheapair). From buying a Microsoft product to paying Estate Agents.
3. HUGE potential
We could well be in the midst of the next Gold Rush. If that is the case, do you really want to miss out?
For me personally, I wouldn’t want to be the one who said “I knew it was going to be big, but I was too lazy to do anything about it and yet again I missed out while everyone else made a fortune” AND “What if everything I have learned so far has led me up until this point.” I even had the thought “What if I become the Warren Buffett of cryptocurrencies? Someone has to – why not me?” LOL.
4. Don’t need a lot of money
You don’t need a lot of money to make really sizeable profits – even a few hundred could turn into tens of thousands.
Have you heard of Erik Finman? The teenage Bitcoin millionaire who started picking up Bitcoin at only $12 a piece back in May 2011, when he was just 12 years old. He received the Bitcoin as a tip from his brother and a $1000 gift from his grandmother.
He now reportedly owns 403 Bitcoins, which holds a value of roughly $4000 where it has accumulated to a stash of just over $1.6 million and change.
I personally bought £850 worth of Antshares (now called NEO) and turned that into over £40,000 in three months. Where else can you get 4000% return in three months?
You might have thought that Forex was volatile. You haven’t seen anything yet. There are days when the portfolio is down by -15% and the next up by 15%.
Individual coins can fluctuate by 50% in one week. One of my coins went up over 100% in just one day. In stocks, this kind of volatility would take an entire year!
Volatility is our friend – most people are scared of it because they feel they can’t control it, but it is great. How else can we buy low and sell high? An idea is to wait for the coin to go down and start buying into it in order to lower our average price.
4. We are just at the start
The majority of people haven’t heard of cryptocurrencies and even less about the blockchain, meaning the value will increase as they become mainstream.