Why is it important for YOU?

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Avatar for Partho1120
3 years ago

"Nothing in life is to be feared, it is only to be understood."

– Marie Curie

Like most things tech, the realm of cryptocurrency can be a bit complex to

master and is still new to many. But the benefits of purchasing this currency

are surely worth your investment in both time and money. Experts have also

predicted that it may be the next big thing in finance.

1. Crypto Trading and Investing

Bitcoin trading can be very profitable for both professionals and beginners. The

market is new, where arbitrage and margin trading is widely available. The

currency’s high volatility has also played a major role in bringing new investors

to the trading market.

Compared to other financial currencies, Bitcoin has very little barrier to entry.

If you already own Bitcoin, no verification is required and you can start trading

almost instantly. Moreover, Bitcoin is not fiat currency. This simply means the

price is not related to the economy or policies of any single country.

And unlike stock markets, there are no official Bitcoin exchanges. Instead,

hundreds of Bitcoin exchanges operate 24/7 around the world. Because there

are no official exchanges, this results in no official Bitcoin price andthe

currency is known for its rapid and frequent price movements.

2. Personal Spending

Secondly is personal spending. There are millions of items now being sold for

Bitcoins and this number is only increasing. You can use Bitcoin to purchase

almost anything! From buying cars (Tesla) to travelling the world (Cheapair).

From buying a Microsoft product to paying Estate Agents.

3. HUGE potential

We could well be in the midst of the next Gold Rush. If that is the case, do you

really want to miss out?

For me personally, I wouldn't want to be the one who said "I knew it was going

to be big, but I was too lazy to do anything about it and yet again I missed out

while everyone else made a fortune" AND "What if everything I have learned

so far has led me up until this point." I even had the thought “What if I become

the Warren Buffett of cryptocurrencies? Someone has to – why not me?" LOL.

4. Don't need a lot of money

You don’t need a lot of money to make really sizeable profits – even a few

hundred could turn into tens of thousands.

Have you heard of Erik Finman? The teenage Bitcoin millionaire who started

picking up Bitcoin at only $12 a piece back in May 2011, when he was just 12

years old. He received the Bitcoin as a tip from his brother and a $1000 gift

from his grandmother.

He now reportedly owns 403 Bitcoins, which holds a value of roughly $4000

where it has accumulated to a stash of just over $1.6 million and change.

I personally bought £850 worth of Antshares (now called NEO) and turned that

into over £40,000 in three months. Where else can you get 4000% return in

three months?

5. Volatility

You might have thought that Forex was volatile. You haven't seen anything yet.

There are days when the portfolio is down by -15% and the next up by 15%.

Individual coins can fluctuate by 50% in one week. One of my coins went up

over 100% in just one day. In stocks, this kind of volatility would take an entire

year!

Volatility is our friend – most people are scared of it because they feel they

can’t control it, but it is great. How else can we buy low and sell high? An idea

is to wait for the coin to go down and start buying into it in order to lower our

average price.4. We are just at the start

The majority of people haven't heard of cryptocurrencies and even less about

the blockchain, meaning the value will increase as they become mainstream.

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3 years ago

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