Today, about 17% of the US adult population has at least a share of Bitcoin investment. This equals around 48 million people. What’s more, almost 80% of the new-generation consumers support Bitcoin as a long-term investment vehicle.
Despite this enthusiasm, many people are still skeptical about investing in Bitcoin. For instance, many financial experts don’t have a clear stand on the risks associated with cryptocurrency investing. Even worse, hackers thrive in cryptocurrency scams.
So, should you invest in Bitcoin? Is it a reliable investment vehicle to help you attain your goals? This article helps you understand the benefits of Bitcoin investment, including the associated risks.
What’s Risky About Investing in Bitcoin?
Generally, cryptocurrency investing has its fair share of risks. You never know when an online hacker will wipe out your investment. Again, a crashed hard drive could mean losing all your Bitcoin with no recourse.
However, one of the most known Bitcoin risks is the dramatic run-ups in price. You can lose all your gains in previous investments if the coin plummets.
The Benefits of Investing in Bitcoin
While investing in Bitcoin has its fair share of risk, there are also some benefits.
Here are the benefits of investing in Bitcoin.
1. Bitcoin Commands Authority in Cryptocurrency Investing
As you already know, the options you have for cryptocurrency investing are pretty overwhelming. Even so, Bitcoin is the backbone of all these options. It commands the highest market authority, thanks to its proven track record for stability.
2. Governments Support Bitcoin
Although no one owns or regulates Bitcoin, it’s gaining interest from all levels of government globally. Why? Bitcoin has advanced safety and security features ever witnessed in the technological revolution.
Besides, there are no cases involving duped users or false information to gain masses. On top of that, the laws governing Bitcoin tax are pretty favorable. From the look of things, Bitcoin will likely become the most powerful global currency in the coming years.
3. Bitcoin Prices Will Keep Growing
As days pass by, businesses and consumers understand that Bitcoin is the ultimate solution for their financial needs. Generally, there is increasing demand. It will eventually cause an uptick in prices as more people use Bitcoin as their primary currency.
4. Bitcoin Adoption in Business Applications
Bitcoin application in businesses is gaining traction across the board. While fiat currency offers a widely accepted solution for payments, it’s not the ultimate solution to the millennial consumer needs. For instance, why should you wait for days to process international transactions?
Also, why should you pay hefty fees for wire transfers or credit card payments? Bitcoin addresses all the challenges. Peer-to-peer transfers are almost instant, while merchant payments attract low transaction fees.
5. Learning Bitcoin Investment Is Free
Traditional investment requires years of learning, planning, and consultancy. You can’t wake up one day and decide to start an online business without doing market research. Besides, compliance red tapes can be too much.
On the other hand, you can learn Bitcoin investment today and start making profits the following day. You can access various free education resources and investment tools online. Even better, you can invest anonymously.
Invest Wisely in Bitcoin
Investing in Bitcoin is purely aesthetic. Generally, there are high odds of making good money if you have a high appetite for investment risks. However, Bitcoin risks are insignificant compared to what you can make if the prices shoot.
Check more articles on this website to access more information on Bitcoin as an investment vehicle in millennial times.
The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .