Is It Time to Buy or Sell Bitcoin?

Is It Time to Buy or Sell Bitcoin?

The global economy is ever-changing, with cryptocurrencies being the leading vanguard in recent years. Dogecoin, Cardano, Eteherium, and most important of all, Bitcoin, are taking a solid spot in online transactions, thanks to their versatility and security. A trend that is continually on the rise, cryptocurrencies are here to stay with us for a long time. Yet the question is obvious, should I start selling or buying Bitcoin?. Today dear readers, we will answer this essential crypto enigma basing our analysis on the work and opinion of experts in economic analysis.

First of all, what is Bitcoin and how can I own Bitcoin?. Bitcoin is a cryptocurrency, a virtual currency created using logarithmic encryption security, allowing its use on the web, and with a higher security rate than physical currencies. Bitcoin began its online incursion in 2009, initially thought to be a doomed investment, Bitcoin and its creator, Satoshi Nakamoto, have proved detractors and non-believers wrong, for Bitcoin’s current worth is 33,768 Dollars per Bitcoin and raising. With it being such an attractive offer, the next question is obvious, how can I get Bitcoin?

Obtaining Bitcoin, the How-to Guide

Currently, there are two ways of getting your hands on Bitcoin, mining, and buying Bitcoin. While both methods present their own pros and cons, for the purpose of today’s article we will focus mainly on the second method. Although maybe a bit daunting due to its sheer worth, buying Bitcoin is actually quite simple. For starters, you will need to create a virtual wallet that allows the use of Bitcoin, second step is to find an exchanger or broker whose price matches your budget. You may be thinking, how can I buy Bitcoin with its price being so high? the answer is, you can, but not a whole Bitcoin. Brokers and exchangers sell to you the equivalent percentage of a Bitcoin to the amount you can pay, let’s say you have 1000 dollars that you want to invest in Bitcoin, and your broker gives you a price of 33.000 dollars per Bitcoin, then your broker will sell to you the percentage of 1 Bitcoin equivalent to the 1000 dollars you are paying, in this case, 0.03 of one Bitcoin or 3% of its total value. You can also opt for a third-person broker, who will manage your Bitcoin investment for a percentage of your income. Many trustworthy broking sites offer investment management options, some percentages being as low as 0.2%. 

Bitcoin Online Banking

Though virtual, Bitcoin is still an accepted currency, and as such provides online banking services, not unlike physical currencies. Deposits, transfers, payments, and much more is possible with Bitcoin, albeit with the added obstacle of acceptance. While Bitcoin is widely accepted, and its acceptance continuing to grow day by day, a prime example of this change being online casinos, some services or providers are reluctant to accept cryptocurrencies. . While at the beginning not accepted as a form of gambling payment, Bitcoin today is accepted in almost all of the best online casinos, with Canadian bitcoin casinos or “Cryptocasinos” taking the lead in popularity. Cryptocurrencies are here to stay, and with more and more online services opening up to Bitcoin, online banking of Cryptocurrencies is an ever-increasing reality.

The Big Question Answered

Now, it’s time for the big reveal of the article. We have talked about what are cryptocurrencies, the way to obtain them, their versatility, and continuous growth, so the final topic to tackle is, should I buy or sell Bitcoin? Let’s hear the answer from one of the biggest names in the economy, Award-Winning author and businessman Robert Kiyosaki ” I bought Bitcoin at $9,000 and I thought I was being fleeced but the reason I bought it at $9,000 was that COVID shut down the world economy, but now I look like a genius because today it is around $55,000. I think it’s going to $1.2 million in five more years”. Though he still prefers gold and silver over Bitcoin, the business tycoon is optimistic about Bitcoin in the future. If his insight and experience are to lead our opinions, then this is the time for investing in Cryptocurrencies.

Closing Words

Though still a newish form of currency, Bitcoin and its siblings are here to leave a long-standing mark in the way we handle business, and with digital shopping and trading becoming more and more common, the future for cryptocurrencies and their investors seems as bright as ever.

About the Author

Iman Baig