Should I Invest in Bitcoin?

Here are some pros and cons of investing in Bitcoin to help you decide.
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Should I Invest in Bitcoin? Discussing Facts and Theories

‘Should I invest in Bitcoin?’ is a question that comes up a lot. Whether you should or you should not invest in Bitcoin is really up to you. All we can do is lay out the facts to help you figure out what you should do.

We also cover how to invest in bitcoin and make money.

A Short Anecdote – What You Should not Do

Recently I met up with a friend. We don’t tend to see each other that often. However every time we meet up we spend some time talking about Bitcoin, blockchain and crypto.

My friend sees some good in blockchain technology, but underestimates the true potential value of it. He confessed to me that he lost money on Bitcoin.

I was taken aback. I also had to excuse myself and walk off as I was called by someone else in the group. So I did not have time to ask any further questions.

What I realized later on is that my friend bought Bitcoin and must have panic sold. It is literally the worst thing you can do.

My friend is not that knowledgeable about the crypto market and not used to the volatility. When he saw the price of Bitcoin go down past the price he bought it for, he sold.

Bitcoin Returns

In my mind at the time when I met my friend, losing money on Bitcoin was an impossibility. Especially considering that Bitcoin is doing very well. It has outperformed all other asset classes over the last 10 years.

The odds are really in our favour. All you have to do is have a look at the Bitcoin returns for 2010-2021:

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Source Charlie Bilello Twitter account. Posted on 22nd August 2021.

How to Invest in Bitcoin and Make Money

So – what can you do to avoid losing money?

One of the things you can do is to start learning about crypto in general.

You don’t have to know everything there is about the crypto space. Frankly I don’t know everything even though I am in the space! It is becoming far too vast to know everything anyway.

To clarify you would need to know some basics. Firstly you need to read the cryptocurrency tips article.

This article mentions one of the golden rules which is not to panic sell. This will avoid the situation my friend was in. Moreover you should time your investment into Bitcoin when there is a dip in the price.

One way to know when dips are coming is by reading the bitcoin halving article. It is also linked in the cryptocurrency tips article.

This does not mean that dips happen only at specific times. There were other moment that dips occurred. However Bitcoin has less percentage losses outside the halving times. Note that even though you might lose less, you still lose a lot. Remember Bitcoin is volatile.

So Should I Start Buying in Bitcoin?

Why Invest

If you want to know why you should get into Bitcoin, you can read a couple of articles. Why is crypto a revolution and what is behind the crypto revolution.

By reading these articles you will get a better understanding on why ideologues have pivoted towards crypto.

You can also get more justification on why to buy Bitcoin from Real Vision Crypto. Real Vision Crypto is made up of a knowledgeable team of financial experts in crypto and outside of crypto.

They will help you understand what Bitcoin and the crypto space is about. You can have a look at the Real Vision Crypto review or subscribe to Real Vision Crypto for free.

Reality Check

The positives of course do not mean that cryptocurrency is going to always do well. I’m pretty sure at some point there will be a crash much like the dot com bubble.

However there will always be those companies or coins that will flourish after the bubble bursts. The key is for you to do your research and know what is going on.

Crypto experts are writing or video blogging online constantly. So it’s not that difficult to keep up with what is going on. There are a couple of advisors we recommend on this site which we will get to in a moment.  

Suggestions

What we do suggest is that you do not trade or keep Bitcoin for a short time. Aim to time your investment when the price is low and hold it for some years. As Dan Held the director of growth marketing at Kraken says:

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Source Dan Held Twitter account.

Expert Advice on Bitcoin

Additionally we suggest you start following some people that are in the crypto space. One of our recommended advisors tends to warn their subscribers when there could be dips. Of course no one has a crystal ball, but they have been fairly accurate in the past.

If you would like to subscribe to the newsletter you can have a look at The Crypto Vigilante review. They have many team members, however you should especially look out for what Ed Bugos says in his writings.

If you want you can subscribe to The Dollar Vigilante which is cheaper, you will still get notification newsletters. You just won’t be able to access the trades and other coins that they suggest other than Bitcoin and a few others. You could always try it out and upgrade should you wish to later.

Disclaimer: We may make money from the products or services we recommend from this website. Note that the information on this page is a matter of opinion that has been formed after extensive research. This is not financial advice. Do your own research to verify the content on this site.

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