If you have seen the risk of Bitcoin in the past 12 months then you will have no doubt thought about investing in crypto to try and profit from your investments. Much is being said and written about cryptocurrencies, Bitcoin especially, because there is a lot of fear about this new type of currency, and the lack of government control. If you have been discouraged from investing in Bitcoin because of such reports, it is important that you ignore them, and instead give it a try, even on a small scale. Don’t be discouraged, here are just a few reasons why you should invest in Bitcoin.
Implementing a taxation system with Bitcoin is almost impossible as it is a decentralized currency. What this means is that the government has no control over what happens with Bitcoin, as the currency is not coming from a central bank or government. The only taxation that could be conceivable would be for users to voluntarily donate money, but that seems incredibly optimistic and near-impossible to enforce.
Having a diverse portfolio of investments always makes the most sense and through Bitcoin you can add another type of investment to your portfolio. The reason behind this is so that if one are alf your investments goes wrong, let’s say Wall Street crashes for example, your money will not all be at risk because you will have placed it in different types of investment.
Unlike when you set up a bank account or manage a credit card, with Bitcoin there is no paperwork involved. You are not required to prove your address, your ID or any other personal information. The only info you will need before investing in Bitcoin is a wallet number, and an online address, that’s it.
What caught the world of investment out last year was the fact that Bitcoin shot up in price from around $2,000 at the start of the year, to around $20,000 in August. Whilst the price may have subsided somewhat, currently sitting at a cool $6,000, many analysts predict that the price of Bitcoin in the future could rise as high as $100,000. With this kind of speculation, it is no wonder that so many people are looking to get involved with this form of investment.
Because of the anonymous nature by which Bitcoin operates, as well as its numerous layers of encryption, this is a very secure form of investment. Some will allude to the anonymity of the service as a flaw, but in actual fact it is here where its greatest strength lies. Credit cards can be stolen and cloned, bank accounts can be hacked, but Bitcoin does not pose any of these risks and is one of the most secure ways of investing your cash.
What are you waiting for, go and buy some Bitcoin today.