**Disclaimer: This article is Not meant to give financial advice. Any investment strategy comes with risk.**
Cryptocurrency is the future of digital commerce and one of the hottest topics in investing. Bitcoin is recognized as the first company to break out into the crypto industry. The concept of cryptocurrency revolutionized how we as a society perceive money. The value of Bitcoin reached its price peak in 2021, gaining respect from investors worldwide. This cryptocurrency is considered to have the top market cap in the industry. Some financialists believe it can eventually replace physical cash.
Current Bitcoin Standings
In the last decade, Bitcoin has risen and fallen in price by tens of thousands. It’s been a wild ride, awe-inspiring people to take the risk. When the right move is made, it results in a tremendous financial pay-off for those who have opted in. The time is NOW to invest in this cryptocurrency. If you play your cards right, this could be one of the wisest financial decisions in your lifetime. When seeking long-term rewards from the stock market, it has been hailed for its effectiveness. High risk equates to a high reward.
The value of one Bitcoin is currently sitting at one of its lowest price points in this fiscal year, under $19,000. Over the course of June, the Bitcoin value has fallen by 40%. Although volatile, experts predict the value of Bitcoin will rise to roughly $100,000 within the eight preceding financial quarters. Despite the significant drop, experts affirm investing while the prices are low.
When it comes to investing in cryptocurrency at a lower value, you must prioritize assessing your risk tolerance and analyze every other aspect of your finances. The unpredictability of the industry requires input from financial advisors to determine the smartest move once you’ve made the decision to go forward.
How to Invest
Here are the steps you must take to invest:
- Open an account with a cryptocurrency exchange.
- Connect a bank account and deposit funds into your exchange wallet.
- Purchase Bitcoin (BTC).
- Buy a wallet (optional).
The three most popular centralized cryptocurrency exchanges are eToro, Coinbase, and BitcoinIRA.
Bitcoin Overview
Bitcoin is defined as a decentralized peer-to-peer electronic exchange. This means people can send and receive money directly to one another without going through the bank or third party as an intermediary. It was created with the intention of eliminating reliance on the government or financial institutions to make transactions. Users transact using the blockchain with proof-of-work methods to track and verify each transaction.
The cryptocurrency was initially launched in 2009 with no legitimate monetary value. It took more than a year for the first economic transaction to take place. Presently, the amount of Bitcoin circulating has a value of over $400 million. The development of the other networks previously mentioned, improved the code behind the blockchain to enable other uses. The wider application base brought in more users and contributed to an increase in Bitcoin’s perceived value. Over time, the number of businesses that accept cryptocurrency has exponentially expanded.
When it comes to Bitcoin, it’s often considered to be worth the risk. Its present value is optimal to maximize financial benefits and profit. Make your move now and invest in the future of modern finances.
References:
https://www.coinbase.com/explore
https://money.usnews.com/investing/articles/the-history-of-bitcoin
https://time.com/nextadvisor/investing/cryptocurrency/should-i-buy-crypto-dip/
https://www.benzinga.com/money/is-bitcoin-a-good-investment
https://www.coindesk.com/price/bitcoin/