Bitcoin Trading: Should You Invest in Bitcoin?

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http://cryptocurrencydepot.com/articles/should-you-invest-in-bitcoins/
There are many considerations in whether to invest in altcoins such as Bitcoins. This presentation examines bitcoin trading and the pros and cons of investing in bitcoin. Click the link above for more information.

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  • 1. Should You Invest in Bitcoins? http://CryptoCurrencyDepot.com
  • 2. A Big Plus • Not owned by any one bank or government! • Transfers and exchanges of Bitcoin are done directly by users and miners – this is a peer-to- peer system. This process results in much lower transaction fees.
  • 3. Acceptance by Retailers Increasing • Retailers that accept Bitcoin as payment for goods and services on the rise, including: • Overstock.com • Fiverr.com • And many more…. • Bitcoins can also be traded in a Bitcoin Exchange.
  • 4. Overall Cap • There will be a cap of the number of Bitcoins that are mined. This number will stop at 21 million, and it is expected that this number will not be reached until around 2140. • This means that the value of Bitcoin will only increase from here on out.
  • 5. Safety • All Bitcoin transactions are recorded in a public ledger known as a Blockchain. Any user can see this record in order to verify transactions; it is this availability or access to the ledger that helps keep the currency relatively safe. • However, there are potential pitfalls to consider.
  • 6. Your Wallet • Once a Bitcoin transaction is verified, it cannot be stopped or refunded. In addition, if you lose your access to your electronic wallet, your funds will be lost. • This is why it is important to protect your wallet or back it up to another device.
  • 7. Volatility • The biggest downside to investing in Bitcoin could be its volatility. The value of Bitcoin fluctuates like crazy on some days—depending on when you invested, this could be a good or bad thing. Last year the price quickly went from around $14 to $1,200 USD, but it then dropped again to $632.
  • 8. Conclusion • Investing in Bitcoin can be a significant part of one’s investment portfolio, but knowing the possible pitfalls is a necessary step before embarking upon this strategy. • Always weigh the risks vs. potential of any investment before proceeding. • We have lots of information to share on our website—come visit!
  • 9. http://CryptoCurrencyDepot .com Click the link to find out more about Bitcoin and other altcoins.