21st century and become so tech-based and advanced and so has our world. We have gone digital long ago, we are using Smartphone, doing video chats with people far away, Skype, texting and what not.
The other thing that has gone digital lately, is the currency. Yes, you heard it right! Digital currency has taken over the financial ecosystem in form of Bitcoin, Litcoin, Altcoin, Libra and ripple among others.
Bitcoin being the most valuable and the most famous among all the other crypto-currency is getting a lot of attention of people and it would not be long before it takes over and beats the government backed paper currency.
It has even replaced the paper currency investment by which I mean stock market. Yes, you heard it right! Bitcoin is hugely used as a form of investment by the people these days. The reason is pretty simple. Bitcoin is highly valuable and it’s price is unstable, so you never know you may wake up one fine morning to realize that you are a billionaire. Won’t it be great!
However, you will be shocked to know that despite it’s popularity, many people have very less idea of what Bitcoin is and how does it function?
Here in this article, I will clear all the doubts of such people and will also give you the reasons that why you should trade Bitcoins.
It is Global
This Crypto-currency is global just like a fiat currency. Bitcoin is not controlled by any third party like fiat currency that is controlled by banks and government. You will be amazed to know that ever since it’s launch a decade ago in 2009, Bitcoin has reacted to various economic based events like China’s devaluation of the Yuan to Greek capital controls. General economic and financial uncertainties have lead to huge hike in price of Bitcoin in the past!
This crypto-currency is unstable
This Crypto-currency like most of the other crypto-currencies is unstable and volatile and this is one of the reasons of huge hike in value of Bitcoin. This is one feature that has attracted the attention of investors and has made Bitcoin their favorite.
Though there is also a negative side of Bitcoin being volatile and that the price of Bitcoin increases and decreases both rapidly. So, it may make you rich and may even make you face a huge loss. So that is the reason why it is advised to always invest something that you can bear losing.
Unlike stock market, there is no single exchange building but Infact there are numerous centers around the world that offer 24/7 exchange service. Also because Bitcoin’s value is unstable, so there is no one fixed price and it keeps changing. It can sometimes create great golden opportunities for the investors.
Risks associated with Bitcoin Trading!
It is not just about Bitcoin, no matter in which ever business you invest, there will always be some risk associated with it. Bitcoin makes you win and many times you have to face losses as well.
All you have to do is to plan all your strategy for Bitcoin trading, stay up-to-date about market trends and have a good knowledge of algorithms. Apart from that it is always advised that whether new or old, invest a small amount in Bitcoin trading that you can bear losing. Even if you are winning, not end up investing huge amount that may your face loss.
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