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Bitcoin Investment 2021: [Instructions On How To Play Bitcoin Effectively]
New to Bitcoin? You hear a lot of "rumors" that investing in Bitcoin will bring you lots of profits!
So real damage how? Let's find out what bitcoin investing is with Blogtienao. and how to play bitcoins!
What is a Bitcoin Investment?
Just like you invest in gold or real estate. You buy gold or land in the hopes that the price will rise in the next few years to make a profit.
Bitcoin investing uses your money to invest in bitcoin with expectations Bitcoin price will rise in the future to sell at a higher price than the purchase price.
It's easy to understand, isn't it?
Is Bitcoin Investment Safe?
When the word "investment" reminds you, you are also a bit scared because you are scared of "losing money", right?
I also made it clear that investing in Bitcoin is an issue risky investment not sure.
Because the technology used to create Bitcoin is also very new. And Bitcoin itself is evolving day by day to become more complete.
Nobody knows what Bitcoin will be like tomorrow. Or will there be coins to replace Bitcoin?
So when you invest, you should only use the money that, if lost, will not affect your life.
Bitcoin Investment Risks
You may have heard of "No risk, no rewards"Correct.
If someone hasn't heard, then you can just understand Without risk there is no reward.
The higher the reward, the higher the risk.
There are huge profits you can make when you invest or play bitcoin. However, the profit is high, the risk is also extremely high.
Blogtienao shows you some risks you need to know before investing:
- Price fluctuations: Bitcoin has a wide price range. In a day it can fluctuate a few percent, but sometimes up to 20-30 percent.
- security: Although Bitcoin has never been hacked and it is very difficult to hack, we will not know in the future.
- user: This error is caused by carelessness of the user. It could be that you forgot or left private keys to access the wallet and transfer the wrong address ...
- Exchanges: Many people buy Bitcoin through exchanges and put it on the exchange. Some floors can collapse and you will lose your money.
Should you still invest in Bitcoin in 2021?
We have just passed the first few months of 2021. Bitcoin price has been consistently high and is currently close to $ 42,000.
The reason is partly due to the event Bitcoin halvingBitcoin mining rewards will be cut in half by 2020. According to historical data, the price of Bitcoin rose dramatically after this event.
In addition, Bitcoin is becoming increasingly accepted. Just a few months ago, many large companies such as MicroStrategy, Square, Paypal, ...
MicroStrategy was known for buying 70,000 more than 1.8 BTC worth more than $ 12 billion in December.
This trend is likely to continue through 2021.
Given the volatile macroeconomic situation such as: governments constantly putting stimulus packages on the market, printing too much money, low interest rates close to zero, Bitcoin is seen as a safe haven. with all investors.
Since Bitcoin is not issued by a central bank, it is not regulated by any government institution.
Even with strong economic fluctuations, the value of Bitcoin is not significantly affected.
Many investors also predict that the price of Bitcoin could go as high as $ 50,000, $ 100,000, or even $ 200,000.
However, Bitcoin is a venture capital channel, many people get rich thanks to Bitcoin, some also lose a lot.
So, if you want to invest in Bitcoin, you should do your research carefully and make a decision!
How Much Money Does Investing In Bitcoin Play?
I think when I first heard about the price of 1 bitcoin it was around VND 200 million at the time of writing. Most likely you too, Bitcoin investment will need at least a few tens of millions to several hundreds of millions.
However, you only need VND 2 million to buy 0.01 BTC. With 2 million you can already play Bitcoin.
Although this amount is not much, just a participation, I advise you to try only 2-4 million so that the first one knows about it.
Instructions on how to invest in Bitcoin gambling for newbies
1. Learn more about Bitcoin
If you don't know billionaire Warren Buffett, he's not going to invest in something he doesn't understand. So you should also understand exactly what Bitcoin is before investing properly?
If you already understand, skip this step. Here is a detailed article that will tell you the details.
What is bitcoin [The Most Complete Information About BTC Virtual Currency]
2. Create a Bitcoin Wallet
Bitcoin wallets are places to store, transfer, and receive them. Hence, it is important to understand and choose a wallet.
What is a Bitcoin Wallet? Top 9 Reputable, Safe, and Best Wallets
3. Buy bitcoin and how to buy
If you want to invest in bitcoin, you have to buy bitcoins. If you are still growing, read the article right away Where can you buy bitcoins? You're welcome
4. Serious exchange
When investing in bitcoin to maximize your portfolio diversification or to increase the number of bitcoins, you need to transact on major exchanges to buy and sell bitcoin. Altcoin.
Some famous floors like:
Blogtienao encourages you to choose Binance Floor. Because today it is the largest trading platform in the world and has a rich ecosystem of services to choose from.
4 tips when investing in Bitcoin
1. New investors should trade in small quantities
Bitcoin trading is unlike any other form of online payment. For example, if you transfer money online using Vietcombank's internet banking.
If you send the wrong account number to someone else, all you have to do is ask Vietcombank to cancel the transaction.
But don't send the wrong thing with Bitcoin Bitcoin wallet address from others is lost.
So when I started Invest in Bitcoin You should trade a small amount as if you were familiar first. If you are knowledgeable you will know the process of all transactions and then trade in bulk.
In addition, investments are always associated with risks. So you shouldn't use large amounts so as not to interfere with daily life.
2. Always keep your account and wallet safe
Some of my experiences, so you can be sure:
- Avoid websites that fake your trading space. Please check the website address before trading.
- Do not give any account information or private keys to strangers
- Don't access links that you don't know what it is
- The giveaway couldn't win the prize and asked you to send bitcoin to them and then they sent it back.
- Save keys or restore characters offline to avoid hacking.
3. Do not store Bitcoin on the floor for too long
In addition to storing Bitcoin through the Bitcoin wallet, many people choose to store directly on Bitcoin Crypto exchange.
Usually with each exchange we can create a separate Bitcoin wallet address that can be stored directly on the exchange. Each of them provides 1 wallet for this coin.
This is only for your time Trade coin or just browse this floor, and for long term investments, the wallet mentioned above should be used.
Because of Trading platform for virtual currencies Big or small, it is almost always hacked by hackers to steal customer coins or the collapsed floor, and you will lose all of the bitcoin you store on it.
The most recent example of a hacker is Japan's MtGox exchange, which was stolen by hackers to steal over 750,000 BTC, which is about $ 1.5 billion at Bitcoin's current exchange rate in 2014.
Or bitcoin exchange just last month Btc-e.com A large, reputable, longstanding exchange was implicated in a money laundering incident that resulted in the FBI's arrest of the owner of the floor, which resulted in a closure.
Lots of houses so far Bitcoin investment It is not known where my Bitcoin will go.
4. Regularly updated Bitcoin news
News is an extremely important factor in the virtual currency market. It directly affects the price of a virtual currency and Bitcoin There are no exceptions.
Hence, you should regularly monitor and update the Bitcoin news to understand the market situation and make the decision to take profits at the right time.
Blogtienao.com is the channel News about bitcoin You can follow or update on major foreign blogs about cryptocurrencies, e.g. E.g .: https://news.bitcoin.com/, https://cointelegraph.com/ HOAc https://www.coindesk.com/
Bitcoin investment in particular and the entire market electronic money In general, this is an opportunity to make money for anyone who takes the opportunity.
Bitcoin There Altcoin are the trend to invest in the future instead of gold or USD.
Currently, this market in Vietnam has seen a lot of turmoil as well as a lot of knowledgeable people.
However Virtual Money Blog I have to pay attention to it again Invest in Bitcoin wisely and strategically not apply "Blood game“In this market or you will regret it.
Of course as I said Invest or play bitcoin There is always a risk. You should think carefully before entering the virtual currency market, and an investment of an amount "within the ability" can afford will not affect the family's finances.
If you find the article useful, please share it with other people and give yourself a 5 star rating at the bottom of the post.
Or any other questions about bitcoin investing, leave altcoin below the comment section, I will try to answer you asap. Good luck.
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