7 Reasons Bitcoin Trading is Profitable and Worth it
When you are planning to trade Bitcoins it is but evident that you will want to know if profits are a certainty. Without this guarantee you will not feel confident enough to take the plunge. Bitcoin had started off as a hobby amongst the early adopters who managed to get impressive returns from mining it. Adam grunwerg of crypto news publishers Finixio, points out that Bitcoin has reached its heights and more changes can be observed in the near future
Mining may have brought profits but it was found to be far easier to earn Bitcoins by trading them through cryptocurrency exchanges. The crypto craze however came to be split into two camps; on the one hand were people like Bill Gates who were thrilled with Bitcoins and the innumerable prospects offered by the blockchain technology. On the other hands, there were critics like Jamie Dimon, JP Morgan CEO, who felt that Bitcoins where not more worthy than tulip bulbs. So, should one trade in Bitcoins?
- Cryptocurrencies came about to give power to people because these were decentralized peer-to-peer payment systems. The blockchain technology is here to stay and likely to permeate every industry in the future. This is the technology of distributed ledger that is one of the leading disruptive technologies ever and it can dramatically change the manner in which governments, societies and contracts operate. It eliminates the need for middlemen like banks and promotes transparency of transactions. When you trade in Bitcoins you can be certain of high-end security because transactions in the blockchain cannot be tampered with.
- High market volatility may prove to be a challenge even for seasoned investors but Bitcoin trading is here to stay. If you can stay patient, you will reap high returns. The crypto market is steadily growing and people are steadily viewing it as a safe haven for investment. Coins like Ripple, Ethereum, and Bitcoin have gone through many ups and downs but that has not deterred people from investing in them.
- ICOs have been another positive effect of the blockchain and today, groups of entrepreneurs can simply come together for getting investments through crowdfunding platforms. Today companies can start without venture capital, simply through mediums like Kickstarter or IndieGoGo. While all ICOs may not yield profits, the legitimate products will get attention.
- While some feel that crypto regulations may be a hindrance to cryptocurrency adoption, these are actually needed for giving security to investors. Proper controls will guarantee basic protection because many ICOs have turned out to be scams.
- You will also find altcoin technologies growing at a rapid pace. When many early investors made a lot of money with Bitcoins it scared those who were still not trading in Bitcoins. However, this fear was unfounded since altcoin technologies were still in a nascent stage. Bitcoins had been evolving continuously, adding new features. As more value got added, risks became higher. While all coins may not survive, those that do will undoubtedly make you rich. The risk takers are gradually increasing in numbers and they are willing to invest even in things they do not understand.
- Developed countries are gearing up for a blockchain revolution. After Japan that introduced anti-money laundering laws, countries like Denmark, UK, and Switzerland have accepted Bitcoins as a payment method.
- Finally, trading in Bitcoin helps you to have a diversified investment portfolio. You can easily trade using powerful bots available. Browse here https://coincierge.de/bitqt/ to know more about trading app. Besides regular stocks and bonds, you can keep crypto assets for a rainy day. The high volatility makes it possible to reap big rewards.