New to Bitcoin? You hear many people "rumor" that investing in bitcoin has a lot of profits!
So real damage like? Let's find out what is Bitcoin investment with Blogtienao? and how to play bitcoins!
What is Bitcoin investment?
Just like you invest gold, or real estate. You buy gold or land in the hope that the price will increase in the next few years to make a profit.
So does Bitcoin!
Bitcoin investment is using your money to put into Bitcoin with expectations Bitcoin price will increase in the future to sell at a higher price than the purchase price.
It's easy to understand, isn't it!
Is bitcoin investment safe?
When reminded of the word "investment", you are also a bit afraid because you are afraid of "losing money" right?
I also made it clear that investing in bitcoin is an item risky investment not secure.
Because the technology that creates Bitcoin is also very new. And Bitcoin itself is also developing day by day to become more complete.
No one knows what Bitcoin will be like tomorrow. Or will there be coins to replace Bitcoin?
So when investing you should only use the money that when lost will not affect your life.
Bitcoin investment risks
Maybe you've heard of "No risk, no rewards"Right.
If anyone has not heard then you can understand simply without risk there will be no reward.
The bigger the reward, the higher the risk.
When investing or playing bitcoin can bring you huge profits. However, the profit is high, the risk is also extremely high.
Blogtienao will present you with some risks that you need to know before investing:
- Price fluctuations: Bitcoin has a large price range. In a day it can fluctuate a few percent but sometimes up to 20-30%.
- Security: Although Bitcoin has never been hacked and it is very difficult to hack, we will not know in the future.
- User: This error is caused by user carelessness. Maybe forgetting or leaving the secret keys to access the wallet, transferring the wrong address, ...
- Exchanges: Many people buy Bitcoin through exchanges and put it on the exchange. Some floors may collapse and you will lose your money.
Should 2021 still invest in bitcoin?
We have just passed the first few months of 2021. Bitcoin price has been continuously breaking high and currently stopping at almost 42000 USD.
The cause is in part due to the event Bitcoin Halving by 2020, the Bitcoin mining rewards are halved. According to historical data, after this event, the price of Bitcoin increased dramatically.
Not only that, Bitcoin is increasingly accepted. Just a few months ago, there were many big companies joining the market such as MicroStrategy, Square, Paypal, ...
MicroStrategy was also known for buying more than 70.000 BTC worth more than $ 1,8 billion in December 12.
This trend is likely to continue into 2021.
With the volatile macroeconomic situation such as: governments constantly launching stimulus packages, too much money printing, low interest rates close to zero, Bitcoin is seen as a safe haven. with all investors.
Since Bitcoin is not issued by a central bank, it is not regulated by any government institution.
So even with strong fluctuations in the economy, Bitcoin's value is not affected much.
Many investors also predict Bitcoin price can be up to 50.000 USD, 100.000 USD or even 200.000 USD.
However, Bitcoin is a venture capital channel, many people get rich thanks to Bitcoin, some also lose a lot.
So if you intend to invest in Bitcoin, you should carefully research and make a decision!
How much money do investing in Bitcoin play?
I think when I first heard about the price of 1 Bitcoin about 200 million VND at the time of writing. Probably you too Bitcoin investment will need at least several tens of millions to several hundred million.
However, you only need 2 million VND to buy 0.01 BTC. So with 2 million, you can also play bitcoin already.
Although this amount is not much, but just participating, I advise you to try only 2-4 million for the first to know.
Instructions on how to invest in playing Bitcoin for newbies
1. Learn about Bitcoin
If you do not know, billionaire Warren Buffett he will not invest in something he does not understand. So you should also understand exactly what Bitcoin is before investing right?
If you already understand, skip this step. Here is a detailed article for you to find out the details.
2. Create a Bitcoin wallet
Bitcoin wallets are places where you can store as well as you can transfer and receive. So understanding and choosing a wallet is essential.
3. Buy bitcoin and how to buy
If you want to invest in Bitcoin, you need to buy bitcoins. If you are still growing, see the article right away Where to buy bitcoins .
4. Reputable exchanges
When investing in Bitcoin, in order to maximize your portfolio diversification or increase the number of Bitcoin, you must trade on major exchanges to buy and sell Bitcoin, Altcoin.
Some famous floors such as:
Blogtienao encourage you to choose Binance floor. Because it is the largest trading platform in the world today and a rich ecosystem of services for you to choose.
4 Tips when investing in Bitcoin
1. New investors should trade in small quantities
Bitcoin trading is unlike any other form of online payment transaction. For example, when you transfer money online via Vietcombank's internet banking.
If you send the wrong account number to someone else, you only need to ask Vietcombank to cancel the transaction.
But not with Bitcoin, you send the wrong Bitcoin wallet address of others is lost.
So when I started Invest in Bitcoin You should trade a small amount as if you are acquainted first. When you are proficient, know the process of all transactions, then trade in large quantities.
Moreover, investment always comes with risks. So you should not use large amounts to avoid affecting daily life.
2. Always keep your account and wallet secure
Some of my experiences so you can be safe:
- Avoid websites that counterfeit your trading floor. Before trading, please check the website address.
- Do not give account information, private key to strangers
- Do not access links that you do not know what it is
- Unable to win the prize, the giveaway asked you to send Bitcoin to them and then they sent again.
- Store keys or restore characters offline to avoid hacking.
3. Do not store Bitcoin for too long on the floor
In addition to storing Bitcoin via Bitcoin wallet, many people choose to store directly on Crypto exchange.
Usually, each exchange will allow us to create a separate Bitcoin wallet address to store directly on the exchange, each of them will provide 1 wallet for that coin.
This is only suitable for your time trade coin or surfing on that floor only, and long-term investment should use the wallet that I mentioned above.
Because of Virtual currency trading platform Big or small, it's almost always being hacked by hackers to steal customers' coins or the collapsed floor, and you'll lose all the Bitcoin you store on it.
The latest example of a hacker is the Japanese MtGox exchange, which was stolen by hackers to steal over 750.000 BTC equivalent to about $ 1,5 billion at the current exchange rate of Bitcoin in 2014.
Or just last month Bitcoin exchange Btc-e.com a large, reputable, and long-standing exchange, was caught in a money laundering incident that led to the owner of the floor being arrested by the FBI, resulting in a shutdown.
A lot of houses up to now Bitcoin investment It's not known where my Bitcoin will go.
4. Regularly updated Bitcoin news
News is an extremely important factor for the virtual currency market. It directly affects the price of any virtual currency and Bitcoin Is no exception.
Therefore, you should regularly monitor and update the news related to Bitcoin to understand the market situation and make a decision to take profits at the right time.
Blogtienao.com is the channel news about Bitcoin You can follow or you can update at major foreign blogs about cryptocurrencies such as: https://news.bitcoin.com/, https://cointelegraph.com/ or https://www.coindesk.com/
Bitcoin investment in particular and the whole market electronic money In general, this is an opportunity to make money for anyone who knows the opportunity.
Bitcoin or Altcoin are the trend of investing in the future instead of Gold or USD.
Currently, this market in Vietnam, though has experienced many turbulence as well as many knowledgeable people.
However, Virtual money blog Still have to note once again please Invest in Bitcoin wisely and strategically, don't apply "blood gambling”Into this market or you will regret it.
Of course as I said Invest or play Bitcoin There is always a risk. You should consider carefully before entering the virtual currency market and investing with an amount "within the ability" can afford, does not affect the financial of the family.
If you find the article useful, please like, share it with more people and give yourself a 5-star rating at the end of the post.
Or any other questions about Bitcoin investment, Altcoin leave below the comment section, I will try to answer you as soon as possible. Good luck.