The price of Bitcoin (BTC) has been steadily rising from $0.01 in 2010 to $20000 per coin in 2019. Its value is also expected to rise in the coming years.
But the question is, is BTC worth buying in 2020? Should you make the purchase now or wait? Plus how much Bitcoin should you acquire? All these are tricky questions to most investors.
Even worse, people talking about BTC believe there’s no opportunity left to invest in cryptocurrency. But is this true? Read more here for details on why you should invest in Bitcoin.
What is Bitcoin?
It’s a decentralized digital currency that has been in operation for more than 10 years. Unlike other currencies, no single entity controls BTC. Even better, it costs less to transact with BTC than other forms of debt repayments.
Here are the primary for investing in Bitcoins.
- Better Regulations
The cryptocurrency market has been constantly growing since its inception. Unfortunately, crypto scams have also been on the rise. The scammers pose a huge threat to your investment and the entire market.
But not anymore.
Regulations on the cryptocurrency market are taking shape. They aim at reducing uncertainty to boost BTC trading activities. The presence of these guidelines arrays fears of online crypto scams while providing a clear foundation to make future investments.
- BTC Is Scarce
Scarcity is the main reason why BTC is constantly rising in value. Yes, investors are mining Bitcoins daily. But the maximum amount of these coins will be 21million coins.
Distributing 21million BTC would see every person on the planet get 0.0023 coins. If possible, make 0.0024 BTC as your minimum investment amount.
Well, what sets BTC apart from Gold, which is also scarce? Well, no one knows the value of its final supply. If a new mine was discovered today, the increase in supply would devalue it. This cannot happen to BTC coins. Therefore, if you’re wondering whether you should invest in Bitcoin, you have your answer.
- Extensive Blockchain Adoption
Did you know they are over 1000 digital coins in the market? Probably not. For most people, Bitcoin is the only thing that comes to their mind when they hear of cryptocurrencies. Some people even use these terms interchangeably.
The growth of Bitcoin is attributable to its underlying technology-Blockchain. The technology has been growing in strength appeasing several investors. Its distributed ledger technology prevents cases of daily fluctuations.
Thousands of successful multinationals are investing time and money into BTC and cryptocurrency research. These businesses want to see how to integrate BTC into their successful ventures.
- BTC offers Transparency
As an investor, you want a transparent currency to store value. Unfortunately, several governments across the world cannot embrace transparency in their domestic currency.
Such governments will use anti-bitcoin points to dissuade their citizens from investing in Bitcoin technology. The points include that bitcoin transactions are slow. Or it’s a bad store of value. However, all this isn’t true.
BTC offers transparency and decentralization. The two traits aren’t common in any government or state issued currency. So, are these two reasons adequate for convincing you to invest in BTC?
BTC transparency conflicts with several governments and their central banks. Here, there’s no transparency on the money a government prints in a day. Plus, no one knows whether the government is printing more money that inflates the economy. This would only be possible if the governments use BTC.
If you don’t want the governments to disrupt your investment, BTC is the way to go.
- No Third Parties
Bitcoin is a safe investment. No one on the planet can tamper with it. The reason, the database keeps a redundant copy of every transaction.
As the user, you have absolute freedom on how you use your money. The governmental agencies cannot freeze your money. But that’s not all! Your wealth isn’t subject to any taxation. The governments don’t have a way to implement the taxation system here.
- Ease of Investing
Investing in BTC might seem like a daunting task for aspiring investors. But that’s not the case anymore! Times are changing and there are also fewer barriers to entry.
Thanks to technology, you can buy bitcoin at the snap of a finger.
- Better Privacy
Do you want your wealth data to be secret and secure? Invest in Bitcoin technology. Other than you, no one else knows the number of Bitcoins in your account. With your wealth data being private, how will people steal from you?
Even better, the system doesn’t accept a payment reversal. Once your customers approve the payment, they cannot claim their money back. Payment reversal has seen several traders lose their money after delivering their goods.
- BTC Is Not Censorable
Does the term capital control sound familiar to you? Well, it’s a technique that governments use to censor their citizens using finances. The countries that do this include China, Taiwan, Russia, and Brazil.
Countries like China are also strict on cross-border money movement. The purpose is to manage the money moving out of the nation. So, do you live in a country with stringent capital control like china? Investing in Bitcoin is your only option. Its decentralization allows you to safely store your wealth.
- The Future is Bright
When investing, focus on long-term viability. You don’t want to spend your money based on a short-term analysis or small price changes in the market. Otherwise, you’ll only waste your time and money.
The Bitcoin market is still volatile. The price fluctuations are common in these markets. Don’t dispose of your investment due to these fluctuations, hold on a little longer until the markets recover. Always focus on the medium to long term value of a coin; with this, you might realize true gains in 5 or 10 years to come.
Blockchain technology is the heart of cryptocurrencies. But that’s not all, it’s revolutionizing other industries in the economy. These include insurance, baking, voting and healthcare systems. Investing in this technology today allows taking part in transforming the world.