Over the past few years, cryptocurrencies have really started to emerge. More and more people are interested in investing in digital currencies, especially in the most established one – Bitcoin.
It certainly is a risky investment, its price can vary hour by hour, but in general, Bitcoin’s price is on the rise, and doesn’t show any sign of slowing down. Here is why you should consider investing.
They are here to stay
The short history of Bitcoin shows that the investors that will gain the most profits are those that are patient. The market just keeps on growing, with more digital currencies emerging all the time. More and more things can be purchased with cryptocurrency, so you can use it for everything from booking a hotel to gambling, (one of the very first uses of the cryptocurrency). The list of options is growing every day. As the adoption of the Bitcoin grows, it ensures that coins bought today are likely to have huge value in the future.
At first, people may be confused about how to go about purchasing bitcoins, but the truth is, it is actually very easy. You simply have to find an online exchange and purchase the amount you want. Transactions are fast and require very little effort, unlike some other types of investment.
The exchange fees required for buying bitcoins are minimal. On average, the charge is around 0.2% of the value of the transaction. In comparison, a bank is likely to charge around 3% in fees when you want to buy something in a foreign currency using a credit card.
Instability is good
With the majority of currencies, political unrest is not good, and prices are likely to plummet. Seeing as Bitcoins are not tied to government services and financial institutions, this does not apply. In fact, political unrest has, in some cases, actually seen the rise in Bitcoin price.