Why is buying Bitcoin is so important?
The world’s first-ever cryptocurrency is bitcoin. No one knows who made bitcoin by name, and the creators are going by the name of Satoshi Nakamoto. Some say that’s their team’s pseudonym name. Users powering the bitcoins decentralized peer-to-peer payment system, and it grew exponentially in the last decade. Buy bitcoin if you want to protect your wealth from inflation.
Why should you consider buying bitcoin?
Bitcoin’s price has increased about 57000% in the last decade. And it’s 833% up over the last year alone. Most investors say Gold is the best way to save your wealth, but Gold is only up by 6.44% last year. Bitcoin’s higher volatility is a concern for many investors around the globe. But that higher volatility is the one that is giving bitcoin the edge over other asset classes like precious metals. One bitcoin has 100 million satoshis. It’s like cents in pounds. So you can buy satoshis and stack it until you have at least a whole bitcoin.
What are the pros and cons of buying bitcoin?
Easy to access – Because of Cryptocurrency exchanges, it’s easy to buy bitcoins.
Higher liquidity – Buying and selling are more straightforward than other assets.
Higher ROI(return on investment) – If you bought 1000$ worth of bitcoin in 2011 now, 1000$ could be worth millions of dollars.
Secure Transactions(Security) – There isn’t any middleman to handle your transactions, and no one can hack and take your bitcoin away. Suppose you are storing them in cold storage.
Higher Volatility – Compared to other traditional investments, bitcoin is highly volatile. That volatility is a conference for many investors.
Unregulated – Governments don’t regulate bitcoin. So you can’t take any legal action against bitcoin fraud.
Limited usage – Bitcoin is still 12 years old, so the use cases are limited for bitcoin.
Impossible to Reverse the transactions – You can’t recover your bitcoins if it’s stolen from you.
What are the best two ways to buy bitcoin?
This is one of the best advanced and beginner-friendly cryptocurrency exchanges out there. It uses 2fa(2-factor-authenticator) to protect users’ accounts. It’s more suitable for non-us users because the US has Coinbase Pro exchange which is also an excellent cryptocurrency exchange.
It’s is the best way to buy cryptocurrencies if your countries banks don’t support direct bank purchases. it’s a trustworthy company with over 6 years of history. Paxful has over 350 ways to buy and sell Bitcoins. You can buy bitcoin as a P2P service as well. Some of them are
- Bank Transfers
- Online wallets
- Gift cards
- Cash payments
- Debit/Credit card
- Digital currencies
- Goods & services
So if your country doesn’t support direct cryptocurrency transactions you can easily use Paxful.
These are the essential things that you should know before buying your first bitcoin. Do your research and learn cryptocurrency with us.