Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain says William Schantz. Bitcoin is unique in that there are a finite number of them: 21 million.
Here are 23 reasons to invest in Bitcoin:
1. it’s deflationary, meaning there’s a finite amount of them – only 21 million will ever be created. This makes them more valuable over time.
2. They’re easy to transfer – bitcoins can be transferred anywhere in the world in a matter of minutes.
3. They’re divisible – you can buy or sell fractions of a bitcoin, making it affordable for everyone.
4. They’re global – bitcoins are accepted in nearly every country.
5. They’re secure – bitcoins are stored in a digital “wallet,” and can only be accessed with the correct key.
6. They’re anonymous – unless you disclose your identity, no one knows who owns any bitcoins.
7. They’re fast – transactions are verified and recorded quickly, usually within minutes.
8. They’re non-governmental – bitcoins aren’t subject to government regulation or interference.
9. They provide privacy – bitcoins aren’t linked to your personal information like bank accounts or credit cards.
10. The value of bitcoins has been steadily increasing over time – they were worth around $600 at the beginning of 2017, and now they’re worth over $4000 each.
11. You can use bitcoins to purchase goods and services – many online and offline businesses accept bitcoins as payment says William Schantz.
12. Bitcoins can be used to invest in other cryptocurrencies, which could give you exposure to a wider range of assets.
13. You can use bitcoins to buy gold and other precious metals, which can provide a hedge against inflation and economic instability.
14. The number of people using bitcoins continues to grow – more than 24 million people worldwide are now using them.
15. There are many different ways to store bitcoins, making them convenient and versatile for investors.
16. Bitcoin is a relatively new asset, so there’s potential for greater price appreciation in the future.
17. Many financial institutions are beginning to invest in bitcoins, which could help to legitimize them and increase their value.
18. The global bitcoin market is worth over $100 billion, so there’s plenty of room for growth.
19. Bitcoin has a very low correlation with other asset classes, meaning it’s a good investment for diversifying your portfolio.
20. Bitcoin is not subject to government or central bank manipulation, making it an attractive investment choice.
21. There are many different ways to use bitcoins, giving you flexibility as an investor.
22. Bitcoin is easy to understand and trade – even if you don’t have any prior experience with investing.
23. Bitcoin is a volatile asset, which can provide investors with the opportunity for high returns if they’re willing to take on the risk.
Here are ten reasons to stay away from Bitcoin:
1. Its highly volatile – the value of bitcoins can fluctuate significantly from day to day.
2. There’s no guarantee that the value will continue to increase – the price could drop precipitously at any time.
3. Bitcoin is a relatively new asset, so there’s significant risk involved in investing in them.
4. Bitcoin is not regulated by any government or central bank, so there’s no guarantee that it will be around in the future.
5. The value of bitcoins is based on pure speculation – also no one really knows what will happen to the price.
6. Bitcoins can be stole easily – if someone gets access to your digital wallet, they can also steal all your bitcoins.
7. There’s a lot of scams involving bitcoins – be careful when investing in this asset.
8. Bitcoin is not very practical – it’s difficult to use them for everyday transactions.
9. The number of bitcoins is limit, so they could become more valuable over time, which could lead to price bubbles explains William Schantz.
10. There are many better investment options available than Bitcoin.
Conclusion:
There are both pros and cons to investing in Bitcoin, so investors should carefully weigh the risks and rewards before deciding whether or not to invest. While there is potential for high returns, there is also significant risk involve, so it’s important to be mindful of the risks and potential downsides. Overall, Bitcoin is an interesting investment option that could potentially provide high returns, but investors should exercise caution before investing.