By Ofir Beigel Last updated on January 2, at As a result I get about 2 emails a day from people around the world who are asking one very simple question: So when you want to invest in Bitcoin you are basically buying the currency. However, there are also some other forms of investing in Bitcoin.
Why Bitcoin is Gaining Traction
What does it mean to invest in Bitcoin? In order invest answer this question the first thing you need to answer is what do you mean when you say you want to invest in Bitcoin. Do you want to buy the currency in hopes it will appreciate it value?
Do you want to invest in Bitcoin related companies? Are you looking to day trade with Bitcoins? If this is the case then you need to decide for yourself jobs you think this is a good time to buy. Meaning, do you think the price will continue to rise. A few pointers for buying and bitcoin Bitcoins: My personal recommendation is to use a hardware wallet to store your Bitcoins. Make sure to invest Bitcoins only from exchanges that have proven invest reputation. This way you average the price over the course of a whole year.
Trading bitcoin Bitcoins Bitcoin trading is different than buying and holding. Trading successfully requires knowledge and practice.
Why Invest in Bitcoin?
The trading market is occupied by very jobs players who are just waiting for newbies to come bitcoin and throw their money away by trading aimlessly. Investing in Bitcoin mining Some people would like to invest their money into mining Bitcoin.
For the past few years mining Bitcoin is only profitable if done at large scales. This means you will need to get expensive mining bitcoin and hopefully have access to free electricity. Some of you may have heard of all sorts of sites that allow you to mine Bitcoins through them. This is known as cloud mining and these sites fall into one out of two categories: If you want to learn more about my take jobs cloud mining read this post.
So should you invest in Bitcoin?
These sites can be categorized mostly as scams or HYIPs high yield investment programs. What these sites usually do is they take money from people around the web and promise to give them good returns.