Hi Bitcoin fans, Bitcoin has recently exploded in value and is being covered extensively by the media. Here’s a quick guide for new Bitcoin investors on how to invest just like a pro! Further, you can check Meta Profit, a very authentic site, and the reason behind the pro techniques of many bitcoin investors.
1. Don’t think about Bitcoin as an investment asset
I know this sounds completely counter-intuitive, but hear me out: Bitcoin isn’t a company that creates value through profit sharing or dividends. Bitcoin doesn’t have its own quarterly earnings report. As such, you shouldn’t assess Bitcoin’s success by looking at it from the perspective of financial metrics investors typically use to measure the growth of stocks they hold in their portfolios.
Rather, Bitcoin should be treated more like a commodity with its own set of rules within which price will fluctuate based upon supply and demand. Bitcoin is a lot like oil in this respect. Before you invest, you need to answer the question: What am I trying to accomplish? Bitcoin is great for certain things but terrible for others. Bitcoin makes an excellent currency because Bitcoin has no borders and Bitcoin transactions are quick, cheap, and easy. Bitcoin makes sending money abroad very easy as Bitcoin can be sent across any border with ease without getting held up by long lines at the bank or forex exchange offices. You can visit https://bitcoinupapp.com/ for more details.
Bitcoin could potentially make it much easier to pay for purchases online without needing to use services such as PayPal or credit cards because Bitcoin sits on top of internet protocols just like email does- therefore transferring Bitcoin amounts internationally is nearly instantaneous. Bitcoin was also intended to function as a decentralized currency, which means Bitcoin transactions should always remain free from the fees and charge-backs associated with credit cards. Bitcoin can still be used as a currency to purchase goods and services, but Bitcoin also acts as a speculative asset.
Bitcoin’s price has been very volatile for several years now. Bitcoin is known to have wild swings of over 5% in either direction on any given day, making Bitcoin an excellent vehicle for day traders who are looking to make quick profits by buying low and selling high (or “shorting”). Bitcoin’s volatility makes Bitcoin attractive because people who buy Bitcoin today could quickly sell at a profit tomorrow if they know what they’re doing. There are many ways that someone could benefit financially from this volatility without necessarily having to hold onto Bitcoin long term. Bitcoin, like other currencies, is also used to denominate Bitcoin-based derivatives such as Bitcoin futures and Bitcoin options.
Bitcoin futures are contracts that allow people to buy Bitcoin at a future date at a predefined price (for more on Bitcoin futures, click here). Bitcoin options allow people to purchase the right to sell Bitcoin at a certain price in the future; essentially allowing people who think that Bitcoin’s price will fall soon to bet against it for short-term gain (more on Bitcoin derivatives coming later in this article!). If you understand what I’m saying- then congratulations! You’ve just determined how you can invest in Bitcoin if you want to.
2. Is now really the time?
As long as there is demand for it Bitcoin will continue to be Bitcoin. Bitcoin’s price has been very volatile for several years now, but Bitcoin’s value is constantly increasing as Bitcoin gets more and more market attention from the media, and Bitcoin exchanges are seeing record volume numbers in trading Bitcoin daily. Bitcoin fans claim that Bitcoin is a “store of value” because Bitcoin prices have gone up exponentially over time despite Bitcoin being extremely volatile.
If you understand what I’m saying- then congratulations! You’ve just determined whether or not Bitcoin may be right for you.
3. Decide between a paper wallet, hardware wallet, exchange-hosted wallet, or a software wallet?
When people first start buying Bitcoin they typically purchase it from another person either face to face or through an online website that allows people to buy Bitcoin with their debit or credit cards. After they buy Bitcoin, they store it in a Bitcoin wallet. There are many different Bitcoin wallets available but the most popular ones are Bitcoin paper wallets, hardware Bitcoin wallets, exchange-hosted wallets, and software Bitcoin wallets that need to be installed on your computer or smartphone.
Hardware Bitcoin Wallets Hardware Bitcoin wallets like Trezor and Ledger Nano S were designed to make Bitcoin security simple and user-friendly while preventing users from accidentally losing all of their money through human error.