“Invest in Bitcoin” – the pocket-book to becoming a XXIst century investor

If you’re thinking about awesome investment stories, you’ll most picture “The Wolf of Wall Street” in your head. Yeah, sure, you won’t have a few million dollars lying around to “hit it big”, but that doesn’t mean that you can’t start learning how to make money from investing. Bitcoin investment has proven to be one of the most lucrative investment avenues of the past decade and it’s no wonder! All major investment funds have given a green light to bitcoin & cryptocurrency investments. Now we’re going to walk you through what investing in bitcoin actually is and how you can start to make XXIst century returns for yourself.

Bitcoin – is it worth it?

Before you start with your bitcoin-success story, know that bitcoin, as well as any other cryptocurrency, is bound by the same market laws as any other assets, be it gold, oil, stocks and whatnot. Its price is influenced by demand, scarcity, and events.

You might feel that this cup is too hot to drink, but don’t worry. You don’t have to be a professional trader or a “Wolf of Wall Street” to consider Bitcoin investment. You just need to learn to weigh in the risks and benefits that Bitcoin investments feature.

Here’s a short checklist of those risks vs. benefits to get your bearings straight:

1. Cryptocurrency prices are highly volatile and they can drop or go up really fast.
2. You should do your own research on bitcoin and see if you can find any patterns that can help you predict the ups and downs.
3. As with any kind of investment, you shouldn’t put in money you can’t afford to lose.

How do I invest in Bitcoin?

First things first – if you want to invest in Bitcoin, you should consider researching how to manage your investments so that you can mitigate any associated risks. After all, your objective is to make sure that you position yourself on the winning side.

There are generally two ways of doing so – you either invest with cash or you invest using other cryptocurrencies.

To invest with cash you need to:

1. Create/buy a crypto wallet or an account on a crypto-exchange
2. Verify your identity and bank account in order to deposit the money
3. Deposit your funds
4. Start buying Bitcoin

Using crypto to buy Bitcoin can happen when you already have a wallet/account and possess other crypto assets like Ethereum, DAI, BCH, then exchanging them for bitcoins.

But what about strategies? Here are some of those awesome tips that will help you decide what’s best for your style.

Hodling – This is one is for those who are in it for the long-haul. You buy Bitcoin at one point and hold onto it for a long time, so that when its price increases significantly over that time, you will generate a nice, long-term profit.

Day trading – This one is for the active ones who like to make short term profits. You speculate on the small (or big) spikes in prices that occur daily or across a short period of time and make a profit by selling at highs and buying at lows. 

Where do I invest?

When you are considering your investment platforms, there are a few options that you can choose from:

1. You can buy on a crypto exchange and then store on your digital wallet. However, this is not secure and prone to hacks, especially if you use the exchange’s built-in wallet where you don’t even have ownership of your bitcoin.
2. You can buy your crypto on the exchange and then store it on a hardware wallet. Although secure and ownership-assured, this is not the most user friendly of options and can sometimes be a bit of a hassle for beginners.
3. You can buy directly on Ledger Live through your hardware wallet (Ledger Nano S or Nano X). Ledger Live is a crypto management app that works in sync with the Ledger hardware wallets. The app provides the same functionalities as an exchange (buy, sell, swap, lend, stake etc.), with the added benefit of ownership, while the wallet provides the safest storage for your crypto assets.

Mining bitcoin – is it worth it?

In order to mine Bitcoin the first thing you need to consider is that it will require a hefty amount of investment. Since bitcoin has been getting scarcer, it has also become harder to mine and the requirements for an effective mining equipment have become more expensive.

When considering whether to start mining or start investing bitcoin, the best way for you to approach it is to research the matter thoroughly. You should weigh in your options and take the most calculated decision according to your budget and your short-term vs. long-term objectives.

In conclusion

We now think that you have what it takes to start your Bitcoin investment adventure. Remember to take a step-by-step approach, conduct thorough research and weigh in your options diligently before jumping in the Bitcoin-pool.