Should I invest in Bitcoin? That must be pretty high on the list of Google searches. The reality is, as is the case with any investment opportunity, the answer is only clear after the investment opportunity has past. So far, it has stood the test of time and useful additions such as a Bitcoin ATM map have made buying and selling even easier.
Is Investing in Bitcoin a Good Idea?
This is the question that everybody wants to answer. If you want to know whether or not it is smart to invest in Bitcoin, you will be able to find highly respected experts who will either tell you that it is the smartest thing you will ever do, or the stupidest thing you will ever do. As such, it is about accepting that it is risky and understanding your own personal risk tolerance. That is what will determine whether or not investing in Bitcoin is a good idea.
How Investing in Bitcoin Works
If you have calculated your risk tolerance and you have decided that you want to have a go at it, you’ll have to first get to know what Bitcoin actually is. It is a type of cryptocurrency that exists in a decentralized digital world. No Central Bank or government is involved in it, which means that they cannot influence its value, but it also means that they cannot protect it’s owners. For many, the fact that it is decentralized is precisely what makes cryptocurrency so appealing and they feel that the lack of protection from a government is in no way a disadvantage. However, because it is decentralized, it also means that standard brokerage account and other investing tools cannot be used for these purchases. Of course, this is where a Bitcoin ATM map comes in handy. No matter where you are, you can use that map to find a Bitcoin ATM where you can buy or sell you Bitcoin.
If you wish to invest in cryptocurrency, the first thing you will need is a wallet. There are numerous highly respected websites that offer these wallets and you need to make sure you compare them to find one that offers you the functionality that you need. Many people have multiple wallets so that is also an option. Whether you have a single digital wallet or multiple once, the accounts must all be connected to your personal payment source such as a debit or credit card or bank account. It requires two factor authentication if you want to protect yourself from cyber theft