If someone asks you to name the first decentralized digital P-2-P cryptocurrency in the world, then your answer will be none other than Bitcoin. It has been regarded as a revolution in the present financial market. Created in 2009, it is based on Blockchain technology. Are you in a fix whether to invest here or not? If you are going to invest for the first time, then this blog is for you.
Security is a Vital Aspect to Consider
In terms of practical application, Bitcoin is nothing different than any investment comprising high risk. The decision regarding investing in this specific application is determined in terms of risk tolerance and objectives related to investment. Before moving ahead and halting to the best decision, it is essential to consider the bright as well as dark sides
Some of the bright sides associated with Bitcoin technology include the following:
- Potential high returns promised – Investing in the Bitcoin technology ensures a high return in investment after a certain period. According to recent reports, the equity has compounded at 14.5% annually. The price rate of the same has raised compounded annually to a high percentage.
- Fast and inexpensive transaction assured – If you are looking for a channel that will help in ensuring fast and inexpensive transactions, then visit official crypto trader will be the right choice. Regardless of the amount and destination, you need not depend on any third party for completing the task. With limitless geographical limitations, carrying out smooth transactions can be assured.
- ï Zero transaction charge associated – This is another exclusive benefit associated with Bitcoin technology. As no bank or financial institution is involved at the time of carrying out the transaction, you need not pay any extra charge while carrying out any transaction. Hence, you need not bear the hassle of paying additionally against any transaction.
- Decentralized issuance – Bitcoin technology is neither regulated nor valued by any government. The currency here is created by people that help in removing the power of money that exists over the population. With zero interference from the third party, there is no risk of the currency getting stolen or seized by someone. Also, none of the confidential information will get disclosed to any third party.
These are some exclusive advantages associated with investing in Bitcoin technology. Also, these help in ensuring that overall, investing in Bitcoin will be a great idea.
Some Cons Associated with the Bitcoin Technology
Want to know what repels investors from investing in Bitcoin technology? If you are also an investor, then it is recommended to keep these vital points in high consideration for your own benefit:
- High volatility associated – Volatility is one of the riskiest characteristics associated with investing in Bitcoin technology. To be precise, the value of the same rises and falls rapidly. After investing in Bitcoin, you must be expecting a favorable return on investment. But at the time of maturity, if the market goes down; then you may have to take a low return.
- High risk associated in terms of risk – Seems a bit surprising! Isn't it? But it is a fact! Due to the crashing of the hard drive or the corrupting of the record of the virus; all the Bitcoin records will get poorly affected. With the lack of a backup facility, the coins may remain unattended. There are higher chances of bankrupting within a fraction of seconds.
- No in-charge to sort out the problems – This is one more disadvantage associated with investing in Bitcoin technology. If any issue takes place during the entire transaction and you are looking for assistance, unfortunately, there will be no one. The problem will remain unattended that may result in huge financial loss.
These are some of the trivial disadvantages associated with investing in Bitcoin technology. Still, if you are planning to play with the decent technology of Bitcoin, better play at your own risk.
From the above, it is crystal clear that investing in Bitcoin technology is all about playing with money. If you are having extra money and do not mind incurring losses, then do not think twice about investing here. For better outcomes, it is advisable to start investing with a low amount of money. As it is a new technology, one must not refrain from enjoying its benefits.