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Investing in Bitcoin

Plus: Tips on How to Do It Safely

By Nancy DPublished 6 years ago 2 min read

Bitcoin and e-commerce are always on the rise. Today, it is so easy to buy something online. Not only can you buy things before they are actually made, but some of the things they are trying to sell are totally weird.

So let's talk about investing in bitcoin.

While it may feel weird at first to purchase virtual currency with an actual currency you worked hard for, just try to think of it like this: when you are buying a bitcoin stock, it's like buying a product at a store. This product will increase and decrease in value over time, and you can always return the product when it is at its next high.

I do realize why people may feel uncomfortable investing in bitcoin—after all, Satoshi Nakamoto has never even revealed his true identity. Also, the fact that Bitcoin could be our future is kinda scary. If it makes you feel better, bitcoin itself is probably not the future, just something very similar.

Bitcoin Stock

Feb 21st

If you are still interested in investing in bitcoin, here are a few tips:

  1. It takes five days for your money to be sent to the stocks. The stock value of bitcoin will be different by then.
  2. Don't invest money you can't afford to lose. Bitcoin is way too unpredictable.
  3. Use "Coinbase" to purchase your stocks.Many other methods have been hacked and are deemed untrustworthy.
  4. Use a bitcoin wallet. Another way to keep your investment safe is to use a virtual wallet.
  5. Buy and forget. There will be so many ups and downs for the bitcoin stock. It's best not to stress too much. Buy your first small investment and wait for some big news to break the internet that bitcoin has reached over 11,000 again (I'm not saying this will for sure happen, so please don't hold it against me).
  6. Don't forget that there are other types of virtual currencies out there. It's not just bitcoin.

Ten Fun Facts About Bitcoin!

  1. There isn't an infinite number of bitcoins.
  2. It's impossible to know the sender/receiver details
  3. The Sony hackers asked for bitcoins instead of American currency.
  4. The first tangible things purchased with bitcoins was a 25$ pizza.
  5. Bitcoin has been sent to outer space on a weather balloon.
  6. A bitcoin transfer is irreversible.
  7. Losing a bitcoin wallet means losing those bitcoins.
  8. Bitcoin is changing professionals' thoughts on what currency is.
  9. The American FBI owns the world's largest bitcoin wallet.
  10. No government has any control over bitcoin currency.

What is bitcoin anyway?

So, we know that bitcoin is a virtual currency made by a guy who probably isn't who he says he is. However, does anyone really understand more? The truth is, there is still a huge mystery behind bitcoin itself, which is why you should really consider investing in another type of virtual currency. Even if you don't trust bitcoin, you should probably get behind the online shopping bandwagon.

Just remember, the internet is the future!

Thank you for reading my article. I hope you enjoyed it. If so, please feel free to read my other articles here on Vocal. I write about both personal and political things, so whatever you are looking for, I’ve probably written about it.


About the Creator

Nancy D

Facebook @NancyDBlogging

Twitter @BlogsNancy

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