Standing in 2022, you can expect to be filthy rich with Bitcoin Investment. However, you can lose all of your money as well. When the discussion is about Bitcoin investment, we must say that it is indeed risky but, at the same time, potentially extremely profitable.
Bitcoin is the first-ever Cryptocurrency that was launched in the market back in 2009. It had started its journey with a value price of around US$0.0008 in July 2010. By the end of the same month, the value price was increased to $0.08.
Now, look at the records Bitcoin has already made.
By November 2021, it had broken all its records and reached the maximum value price ever with a stunning more than $68,000. So, in case you are looking to gain direct exposure, you should consider Bitcoin as a good investment.
Still, most people often encounter a single question, and that is, “Is Bitcoin a growing investment opportunity?”
“Should you invest in Bitcoin via the best platforms, like Immediate Edge.”
Here, in this article, we will talk about that only.
Is Bitcoin Safe?
The concept of Bitcoin is not that clear among the common people. They think it is just a scam.
Well, it is not.
There are a number of factors for which some financial experts do not consider Bitcoin as an entirely safe investment option. At the same time, there are also a lot of investors who claim that Bitcoin is here to stay; it is the future of the global financial sector.
Let’s check out the possible risk of Bitcoin investment.
Risks Of Bitcoin
All those Cryptocurrency exchanges are really vulnerable to being hacked and also becoming the targets of other criminal activities. Several security breaches have already led to considerable losses for investors who have had their digital currencies stolen.
So, now a lot of exchanges, along with third-party insurers, have started offering protection against hacks. Storing Bitcoin safely is actually a lot easier than owning bonds and stocks. Bitcoin is backed by an amazing closed ledger technology, Blockchain.
Still, Bitcoin is considered to be a risky investment.
Volatility is the most prominent nature of Bitcoin. So, in case you are thinking about investing for a short-term period, it might make you lose all the money that you have invested. You never know what is waiting for you the next day.
Apart from that, if you lose your hard wallet for any reason, you will also lose all your Bitcoins. Just the way, you can not get back the money that you have kept in your wallet once you lose your usual wallet.
Is Bitcoin A Good Long-Term Investment?
It keeps a record of each and every transaction that is occurring in a network. And the record is visible to everyone who is present in the network. So, there is no scope for manipulating the data.
Apart from that, as Blockchain does not have any central point or regulatory body, it is really tough to hack the network. In order to do so, a cybercriminal has to hack each node of the network; switching is almost impossible.
Now, come to the currency you are holding. You are going to store your Bitcoin in a digital wallet. Until and unless you’re sharing your private key with someone, no one will be able to get access to your coins.
A lot of people also worry about how the government will treat Bitcoin and most Cryptocurrencies. There was a time when countries used to treat Bitcoin as an illegal asset. But at present more and more countries are changing that.
El Salvador has become the first country to make Bitcoin one of its official currencies. Also, a lot of retailers and businesses accept payments with Bitcoin. More institutional investors are investing in Bitcoin.
More giant organizations are putting their money into several projects related to Bitcoin and Blockchain-based projects. So, we can say that Bitcoin indeed has a great future. Experts also believe that brighter days for Bitcoin are on the way.
In case you are thinking about investing in Bitcoin, you first should have a clear understanding of the market. Then you need to determine the amount of money you can afford to lose and invest only that part of your finances.
Ensure that you are planning on a long-term basis.
As long as you are keeping all these things in mind, Bitcoin will be a growing investment option for you.