New to Bitcoin? You hear many people "rumor" is investing in playing bitcoin very badly!
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 you mention the word "investment" you must be a little 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 created Bitcoin is still new. And Bitcoin itself is growing day by day to improve.
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 that "No risk, no rewards"That's 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 a measure of user carelessness. Maybe forget or leave the secret keys to access the wallet, transfer 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 Bitcoin investment in 2020?
Surely everyone knows that 2020 is an extremely difficult year when the COVID-19 pandemic is raging all over the world.
Many businesses as well as financial markets tumble. Bitcoin is like a ray of light in the dark night, it seems to go against the stock market.
The US government is constantly printing money and pumping it into the market. Many people have chosen Bitcoin as a store of value against inflation.
For example, billionaire Paul Tudor Jones (the 320th richest ranking of the US with an estimated net worth of US $ 5.1 billion) has stated that he owns Bitcoin with 1-2% of his net worth.
Author of the book "Rich father, poor father" - Robert Kiyosaki also announced the death of the economy and advised that buying Bitcoin, Gold and Silver to fight inflation. He also predicted that the price of Bitcoin would increase from $ 9800 (May 16, 05) to $ 2020 in the next three years.
ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @ $ 1700. Predict $ 3000 in 1 year. Silver @ $ 17. Predict $ 40 in 5 years. Bitcoin @ $ 9800. Predict $ 75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.
- therealkiyosaki (@theRealKiyosaki) May 2, 2017
Here I do not recommend investing or not, the decision is up to you!
If you accept the risks of investing in bitcoin, you can consider investing in this currency!
How much money does a Bitcoin player need?
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 optimize the diversification of your investment or increase the number of Bitcoin, you have to 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 Virtual currency trading platform.
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/, https://www.coindesk.com/ or https://www.cryptocoinsnews.com/.
Predict Investment Trends In 2020
It is almost a conclusion, my personal prediction about the investment trend of playing bitcoin in 2020.
Cryptocurrency , and Blockchain is still the investment trend of the future when a series of big banks and banks continue to jump in.
Practical applications will be launched, investment funds will focus on further research and development.
Although the current period is still very difficult, but I believe that 2019 will be the year when the bitcoin market will prosper again.
The industries continue to stand out in Vietnam:
- Blockchain startups, the system that applies blockchain in practice - releasing tokens to the public - call for capital to grow.
- Trends to open trading floors: centralized trading floor and exploit Exchange services, Margin Lending
- Virtual Money Excavator New technology will appear with many outstanding technologies, which will help to dig faster and bring more profits.
- Bitcoin Investments - Surfing will still be the dominant investment channels in 2020-2021.
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.
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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.