Three things to know before investing in Bitcoin

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With bitcoins, popularity more and more mainstream investors are beginning to show interest in investing in bitcoins as well as other cryptocurrencies. But just like any other investment you need to know the ins and outs so you don’t lose out in the end.

In today’s presentation, you’ll learn three very important things which you need to understand before you start investing in Bitcoin.

Number one: You don’t need to buy one whole Bitcoin. Bitcoin prices have gone up astronomically in the last few years and many experts are saying the prices could stay up for the next several years before you start worrying about. Whether you can afford to invest thousands of dollars for a few bitcoins
you should know that each bitcoin is composed of 100 million satoshis. A Satoshi is the smallest Bitcoin unit, pretty much like cents to a dollar. This means that you can invest $10 $100 $10,000 or any other amount you like of course the smaller the dollar amount the smaller your Bitcoin value.

Number two: Price is highly volatile just like investing in the stock market bitcoins are also high-risk and high-reward. Investment prices can fluctuate wildly and go up and down by thousands of dollars in a matter of hours. If you don’t have the stomach for this it’s best to stay away from Bitcoin investing. But if you like to take calculated risks and you can afford to lose a few thousand or a few million then go ahead
and invest. Experienced investors can ride out a dip in the market price and patiently wait until the price goes up again. The best strategy when investing in Bitcoin is to invest only what you can afford to lose. This way you don’t get physically sick when you suffer a huge loss.

Number three: Don’t leave your investment on an exchange when buying bitcoins. Most people usually leave their digital on the exchange platform. While many think this is safe, it’s not it’s true. You can easily access your money from anywhere with an internet connection but it’s also an easy way for hackers to steal your coins. With Bitcoin becoming more commonplace, more hackers are getting into the Bitcoin game. Therefore it’s best to check out other more secure wallet options to make sure your investment is safe.

Here you can find an article with ways to get free bitcoins.

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past. Also, pro-local, pro-global and anti-national.

Disclaimer: All content found on 7bitcoins.com is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

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