The king of crypto, Bitcoin is the numero uno cryptocurrency ever since the launch of the crypto asset industry. Bitcoin is the first crypto and still commands the ruling stature in the crypto world among the 10,000 cryptos today. The coin reached its second ATH in 2021, touching a whopping sum of around $69,000- although bitcoins have plummeted down below $20,000 currently yet the crypto is poised to make a surge in the coming months. If you are aspiring to begin your journey in the crypto world, it is suggested that you start with bitcoins. Mex group
Bitcoins currency
The vision behind Bitcoin was to offer a revolutionary payment system that can democratize the current financial world. The traditional financial world is rife with inequality where the rich seem to have all the advantages- while the underprivileged ones lag behind. A lot of people are unable to afford the bank charges that are common in the traditional finance sector. Moreover, many people stay afar from banks and hence are unable to reach their for fiscal services. As a result, a huge section of people around the world are still unbanked, including adults from the developed countries as well.
The bitcoins currency is designed to resolve problems by offering a fair and even ground for all. Built on blockchain, the crypto operates in a decentralized environment that maintains a P2P approach and eliminates the need of intermediary and hence the middlemen charges. Bitcoin-based transactions are always more affordable and faster than traditional transactions. Then, as Bitcoin is a virtual money, there is no need for bitcoins users to travel to a physical institution to execute Bitcoin services.
Bitcoin is the first crypto ever to receive legal tender. There are two countries that have acknowledged bitcoins as legal tender. This revolutionary step has placed bitcoins at a similar status with fiat currency. Like any fiat currency, Bitcoin can be used as both store-of-value and payment mode. But, unlike fiat currency, Bitcoin never had the status of legal tender until 2021. People of these countries can now pay taxes with bitcoins as well.
The post below offers a brief on why and how to invest in bitcoins.
Why should you put your money in BTC?
The #1 crypto
The first reason to put money in bitcoins is the numero uno stature of the crypto. As the #1 crypto, the coin commands the highest market cap ($323.52 billion) and highest trading volume in the crypto scape. As a result, Bitcoin offers the highest returns of all cryptos out there.
Widespread adoption
Bitcoin is the most widely used among all cryptos. All businesses that accept crypto payments, except NFT and metaverse platforms, accept bitcoins.
From pizza to flights, you can buy and book goods and services from all industries with bitcoins today. As of now, over 15,000 businesses around the world accept bitcoins. Given the rising popularity of BTC, the number is only about to surge in the coming years.
Bitcoin has been able to attain attention from both retail and institutional investors. Even after over a decade of its launch, Bitcoin is the crypto that receives the maximum chunk of investment made in the crypto sector.
Faster recovery rate
Bitcoin has been through terrible bearish phases ever since its inception. But each time, bitcoins have come up stronger and with surging prices. Bitcoin has already reached 2 ATHs and even though the coin is down currently, bitcoins are predicted to touch the $100,000 mark by the final quarter of 2025.
Deflationary coin
Bitcoin is predicted to rise in market value and price owing to its deflationary nature, among other things. The coin comes with a finite supply and almost 90% of the coin has already been minted out. In other words, BTC is only getting scarce with each minting session. On the other hand, the demand for bitcoins is only rising with each passing year. Lack of supply and rise in demand would automatically result in higher prices for bitcoins.
Easy divisibility
Another reason to put money in bitcoins is high divisibility.
Bitcoin allows investment in its fractions or Satoshis that come at a much affordable price than 1 whole BTC. This way, bitcoins make investment accessible even for small and medium cap investors. In other words, Bitcoin has brought a fairground for investment in the investment area.
How to put money in Bitcoin?
Decide how much to invest
The first step is to decide how much money you would put in bitcoins.
There are two things you can do here. You can make a one-time investment. Allot 2% of your investment capital initially and buy as many Satoshis as possible. The other option is to opt for a recurring investment scheme. In this case, you will divide your whole investment capital for bitcoins and allot a fixed portion out of it every single month. It will help to establish a disciplined approach to investment.
Find a credible exchange
The next step is to find a reliable crypto exchange for investment in bitcoins.
You have a long line of crypto exchanges out there but not all such platforms would be able to offer you a safe and credible experience. There are various points to mind before choosing a compatible exchange to invest in bitcoins.
First, you should check the market reputation of the exchange. Check the team behind it and what the users and experts have to say about the platform. Don’t just rely on the testimonials posted on the exchange website. You should also study the reviews posted on independent review websites.
Read more about how you can buy cryptocurrency from the exchange
Then, check the geographical limitations followed by the exchange. In other words, make sure your chosen exchange allows traders from your country.
Finally, don’t forget to check the security measures taken by the exchange. A trusted exchange will always follow 2FA authentication. If the exchange doesn’t allow fund transfer, then the platform should at least adopt cold wallet storage.
