Investing in Bitcoin for Beginners
Read on for a beginner’s guide to deciding whether Bitcoin investment is right for you, and how to get started investing with the Coinconnecter.com Start Investing guide.
Is investing in Bitcoin right for you?
The first rules of investing is: don’t invest in anything you don’t understand.
Before you invest in Bitcoin, it’s important to understand how it works and why people think its value will grow. Do your own research!
Bitcoin’s value stems from the improvements it aims to make to financial transactions across the globe.
- Using blockchain technology, Bitcoin aims to make financial transactions faster, more private and more secure.
- It’s a borderless currency meaning there are no huge fees to pay when using to send money overseas.
- Perhaps most importantly, there are no central banks governing it.
- The speed at which Bitcoins are mined are controlled by a digital algorithm and there is a finite amount that can be mined. Essentially, this means that the value of Bitcoin is not vulnerable to the effects of inflation.
Many investors believe that this is such an improvement compared to fiat currency that Bitcoin will eventually become the global currency of choice. Others play the market to make quick short-term profits.
Still, if you don’t believe in the intrinsic value that Bitcoin provides to the world, it’s probably best to avoid investing in it.
The financial value of Bitcoin rises and falls with great volatility. If you don’t have the stomach for such a volatile investment, you might want to put your money into something a little safer and stable.
How to invest in Bitcoin
To invest in Bitcoin, you’ll need to start with setting up an account on an exchange and a digital wallet. For example the most used is Coinbase.
A Cryptocurrency exchange is a platform which automatically connects those who want to sell Cryptocurrency with those who want to buy, automatically finding the best market price for both parties.
A digital wallet is a secure space where Cryptocurrency investors keep their funds. Coinbase.com provides an exchange and a digital wallet, making it simple for people to invest in Bitcoin and other two other top market capital Altcoin Cryptocurrencies.
You can find a intuitive guide on our Start Investing page which provides steps from A through Z on how to start investing in Bitcoin on your own. Also how to get into the next steps of investing in other Cryptocurrency options, and markets.
Coinconnecter Disclaimer: Nothing published by Coinconnecter.com should be considered investment advice. Any investment options published or recomended by Coinconnecter.com should only be invested in after consulting with your investment advisor and only after researching and reviewing the prospectus or financial statements of the company. All investment information,and any Analyst or Professional Trader past or present published performance is not an indicator of future results. All trading and investing involves risk. Coinconnecter considers all Bitcoin, Crypto currency, Mining, and Fintech investing High Risk Be advised that most all of these investment options are decentralized, unregulated, and unconfirmed. Whether it be Bitcoin an ICO/ITO, Staking/Lending Coins, Mining, or Cloud mining. Only risk capital you are prepared to lose.
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