Cryptocurrency 101: What The Future of Bitcoin Looks Like
News about cryptocurrency has always been hot. This industry has been booming for years, especially now that almost everyone has an access to the internet. People get to read more about cryptocurrency that also encourages them to invest in it. Bitcoin is still the most popular cryptocurrency these days. It has its ups and downs for the past years. But what does the future look like for cryptocurrency, especially Bitcoin? Let’s go ahead and find out.
Introduction to Bitcoin
Bitcoin (BTC) is the very first cryptocurrency that was created and introduced in January 2009. This cryptocurrency promises lower transaction fees compared to online payment methods. And unlike the government-issued currencies, Bitcoin and other cryptocurrencies are being operated by a decentralized authority. This means that they are not issued or backed by banks or governments. Because of its popularity, it triggered the launch of other cryptocurrencies or also known as “altcoins.”
Buying Bitcoin can be done through exchanges and stockbrokers. Others prefer to purchase them directly from owners. No matter what way you get it, you should think about whether or not this is a good investment for you. As of July 2021, the price for 1 Bitcoin (BTC) is $33,425 USD. But remember that the BTC price fluctuates so you have to be ready for the rise and dip of its value.
Bitcoin and Long-Term Investment
As the most widely known cryptocurrency, Bitcoin investment comes with benefits mainly from its network effect. More and more people want to know more about Bitcoin. In fact, the majority of those who are highly interested want to own Bitcoin and many consider this ‘digital gold.’ Bitcoin investors believe that it will gain more value over time. In fact, many investors believe that soon, Bitcoin has a huge potential to become the first global currency.
Cryptocurrency: Should You Invest?
If you have a strong belief that cryptocurrency usage will continue to rise over time, then there is a sense in buying some as part of your diversified portfolio. Remember that cryptocurrencies have shown that they have no price correlation with the stock market. But before you decide to invest in any cryptocurrency, make sure that you have proof that this will stand the test of time.
But if you think that buying cryptocurrencies are too risky, then you can profit from it by purchasing stocks from companies that offer them. Cryptocurrency adoption has also become a trend these days. However, you have to remember that there is a possibility that buying instead of investing directly may not gain you the same profit.
Learning more about the economy and reading about the latest news in this field is crucial. So if you want to read more about the stock market, global markets, and news about gold and currencies, then you should visit the Rum Rebellion at https://www.rumrebellion.club/. Here, you can update yourself about what’s happening not only about cryptocurrency, but also about money, stocks, politics, and economics.