One of the most frequently asked questions we at the Merkle get, is whether or not people should invest in Bitcoin. Although we are not financial or trading advisers, the simple answer is how there is never a bad time to buy Bitcoin. The best opportunity was yesterday, but the second-best option is today. Interested parties always need to keep in mind they should never invest more money than they can afford to lose.
There is Never a Bad Time to Buy Bitcoin
Everyone would love to buy bitcoin at the cheapest price possible. Preferably at the price of $0.01 per BTC or lower, which was effectively the real price when Bitcoin was first created. Despite the gains Bitcoin has made over the past few years, there is no reason to think the price has peaked already. The third wave is coming for Bitcoin and other cryptocurrencies, and it is only a matter of time until it happens.
People who have missed out on the early days of Bitcoin may find it hard to justify investing at this point in time. That is understandable, as over $2, 500 per Bitcoin is quite a steep price. At the same time, people have to keep in mind the current value of all bitcoins in existence pales in comparison to the trillions of dollars being moved around the world through banks and other financial institutions. Bitcoin may never achieve that high level of value, but for all we know, it could happen in five years from now.
The best time to invest in Bitcoin was yesterday. One should not contemplate whether or not to invest for too long. Opportunities will come and go with Bitcoin. Even if you would buy today and the value dropped by 20% overnight, there is still a good chance one will score a profit by just holding onto this Bitcoin balance for the foreseeable future.
If you have done your own research into Bitcoin and think it might be worth trying, there are few reasons to wait. It is important to keep in mind one does not necessarily need to buy a full Bitcoin either. Unlike most other currencies in the world, Bitcoin can be divided up to eight digits after the decimal. Even purchasing a fractional amount of a Bitcoin is a smart idea right now, as it will most likely appreciate in value if you have some patience.
You can buy Bitcoin from ATMs, exchanges, brokers, or trading platforms. Buying mining equipment or cloud mining contracts will not give you much of a profit unless you are extremely lucky. The most convenient way to invest is to purchase cryptocurrency instead of trying to mine it or use facuets. Also make sure to use a proper Bitcoin wallet of which you control the private key, rather than keeping the funds in an exchange wallet.
One strategy a lot of investors rely on is buying small amounts of Bitcoin every week and simply store them in an offline wallet. Even fractional amounts of Bitcoin will eventually add up to a good chunk. Keep in mind there will only be 21 million coins by 2140, making it impossible for everyone on the planet to own a full Bitcoin. Scarcity makes Bitcoin valuable to a lot of people. Always do your own research before trusting a company with your funds to buy Bitcoin.
This is not investment or trading advice, always do your own independent research.