This post is sponsored by Diamond Bloggers. All opinions expressed are my own.
One of the largest trends in the investment industry over the past few years has involved the trade of Bitcoins online. The popularity of this trend is based solely on the commodities high value of the trade. As Bitcoin’s value has increased four-fold since spring.
Bitcoin, for those who may not know, is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Making them popular with investors domestically and abroad.
It goes without saying that Bitcoin, of course, is a blockchain-based cryptocurrency. It’s decentralized, anonymous, and global. Which for those who trade online makes the currency all the more desirable.
Bitcoin made big headlines this past winter when its price on exchanges surged to an all-time high above $4,000. That was about a four-fold increase from Bitcoin’s value just a before Thanksgiving, and about seven times what Bitcoin was worth a year ago at this time.
For example, if you had $1,000 dollars invested in stocks this time last year, you’d now have something like $4,000 today. A seemingly simple way to invest in your family after becoming debt-free at home. Which begs the question: Is now the time to invest in Bitcoin?
For those who are thinking about investing in Bitcoin, here are three reasons to consider the trade:
Bitcoin is not affected by political unrest:
Unlike many traditional investments, global unrest is not good for the financial market because investment values are closely tied to established companies that depend on government services, stable financially backed banking institutions, and a dependable workforce.
Bitcoin, on the other hand, is not undervalued because of political unrest and global insecurity. Because Bitcoin is not a government-backed currency. In fact, there’s evidence that recent unrest in Asia contributed to the Bitcoin price surge.
With the current political divide occurring in many first-world nations, you might find uncertainty to be a compelling reason to invest in the long-term prospects of Bitcoin.
Bitcoin is easy to invest in:
Investing in Bitcoin is simple. Because transactions are subject to few regulatory oversights, they often make for headache-free online transactions.
They have a lower investment cost:
Due to few investment costs, Bitcoin exchanges offer lower investment points for entry, with as little as 0.2% of the value of a transaction required on various Bitcoin exchanges. Platforms seemingly out-of-reach for traditional families at home. By comparison, U.S. banks usually charge about 3% in fees when you use a credit card to buy something in foreign currency or to purchase traditional portfolio stock online.
For those looking for quick, first-time currency speculation, Bitcoin offers a cost-efficient way to do so.
There is also a lot of credible financial counselors and authors who praise the use of the currency. Mark Dukas, a renowned financial analyst who works within the Bitcoin industry praises plunging into this surging investment profile for working families and millennials alike. Mark Dukas Charlotte is a great source for information on Bitcoin investments for yourself this season.
With that said, are you considering investing in Bitcoin this season? Share your reasons for investment below!
