Invest in Bitcoin 2017
Bitcoin is an innovative digital currency which falls under the category of ‘Cryptographic Currencies’ or also known as ‘Cryptocurrency’. It has been around for over eight consecutive years ever since it was founded by Satoshi Nakmoto, the alleged creator and mastermind behind Bitcoin.
Currently, Bitcoin is the most popular and widely recognized cryptocurrency in the world with its first position in terms of the overall market cap. It is mostly used to purchase other cryptocurrencies as with its position as one of the main ‘trading pairs’ on online exchanges.
The value of Bitcoin is highly speculative in the sense that its price fluctuates according to the value speculations input by its users – the users of cryptocurrency. Recently, Bitcoin has soared in its value and many became millionaires over the first half of 2017.
Bitcoin can be stored, sent, and received through online exchanges where users are also able to purchase them. In order to purchase bitcoins, users will need to register on online Bitcoin exchanges such as Bitfinex and Kraken. Most popular would be Poloniex but this exchange does not have the option allowing users to purchase cryptocurrencies via fiat currencies such as USD or KRW.
Credit cards and bank wires can be utilised to purchase Bitcoin, although there are some processing fees involved on most of the exchanges. When it comes to choosing your online exchange, be sure to go for the most popular or widely recognized exchange as there are various risks involved.
You will need to register for a Bitcoin wallet. Investing in Bitcoin is probably one of the smartest choice you will be making in 2017 as with the growing popularity of this cryptocurrency, resulting in heightened demands. Simply purchase bitcoins through online exchanges to either trade them riding on price fluctuations or simply keep them until the value has increased – which is highly likely.
Some big investing companies have speculated the increase in Bitcoin’s value to over $4,000 USD by the end of 2017. However, it must be noted that your own due diligence is essential when it comes to investing and this article should not be treated as a financial advice.