So you are thinking about investing in Bitcoin?
For years now, people were watching over the cryptocurrency situation, waiting for the whole thing to die off. But it never happened, and what’s been called a “collective insanity” just grew and became pretty much normal.
With Bitcoin market growing and gaining more and more traction, it is no surprise that a secure global and digital currency has claimed the interest of investors worldwide. Pretty much, having BTC is equivalent to holding share in this venture. In the past investors in cryptocurrencies have been ridiculously successful.
So we’ve created a short guide that includes 3 things you need to know, in order to enter the market.
Just like with any other investments, you need to be fully aware of its price dynamics. Cryptocurrency is no exception here. There are entire books written on financial investments and university courses dedicated to it, so there is no short answer to the question, when is the right time to buy and when to sell.
Historically speaking, Bitcoin had seen rapid spikes in its price, making it very hard to predict. Also, it is a global currency. Therefore it will be not affected by any single country’s financial situation or stability.
How to Invest in Bitcoins and Where to Buy
The difficulty of Bitcoin trading is related to your country. For the residents of the USA, UK and Canada, as well as Singapore, and most of Europe, the best option would be to utilize exchanges, such as Coinbase.
Buying BTC is easy today, you can go as far as to link your bank account to the Coinbase wallet.
How to Secure Bitcoins
As with any other valuable asset in your possession, BTC requires some measure of security. In today’s world, hackers and cyber-thieves present a real threat to your BTC investment. So, securing the investment should be one of your largest concerns.
Luckily there are companies, dedicated specifically to it. Ledger Nano S is a great example of a firm, specializing in offering its customers a wide array of secure Bitcoin storage devices. It is probably the most advanced BTC wallet to date.
But there are of course other options, like TREZOR. A company that produces a hardware wallet, exclusively for storing cryptocurrencies. One of the main advantages of TREZOR is that it generates your unique private keys offline, with no room for hacking opportunities.
Obviously, BTC, like any other asset, needs to be placed in wallets that you have full control over. Standard security procedure, that every bank in the world tells you “DO NOT share your personal financial information with anyone!”.
Invest in Bitcoin Mining
Another option to invest in BTC assets, without actually buying cryptocurrency itself is by investing in Bitcoin mining. The crypto-mining industry has grown at a rapid pace. There are data centers all over the world that utilize large arrays of ASICS and take advantage of cheap electricity bills to mine BTC very efficiently.
By investing in such mining farms, you essentially own a share of the company and therefore own part of the profit.
Alternatively, you can invest in BTC, by actually buying ASICS yourself and mine cryptocurrency, from the convenience of your house or garage. If so, you can contact us at Bitmainmasters, where we specialize in the retail of first-in-class mining equipment. We offer a great range of miners for sale at most competitive prices, including Antminer S9.