Bitcoin value has risen dramatically in recent months and it may be a good time to be considering making a Bitcoin investment now.
Bitcoin Investment Opportunity
Bitcoin maybe not be what you think. It is a virtual currency sometimes also described as a cryptocurrency. It does not exist in a physical sense like a coin or a note, it only exists on on computers and the internet. Hundreds of computers around the world operate to form the digital currency chain known as Bitcoin. That chain involves using some very secure software to solve mathematical problems. Trading in Bitcoins relies on mathematical proof.
Bitcoin was invented by a software developer called Satoshi Nakamoto. He set up the protocols for the Bitcoin chain to operate securely as a virtual currency. Bitcoin does not even have an office, it is not an organisation, it was just an invention that seems to work very well.
The Bitcoin Market
In recent months such is the popularity of Bitcoin, prices are going through the roof. The price today is approaching 800 dollars but three months ago it was only around the 600 dollar mark. The trading price of the Bitcoin has far outstripped the rise in gold prices during that period and since it was first traded. The Bitcoin was only valued at 10 dollars back in 2012 so the growth in value has been enormous. Some traders are predicting that the value will top 800 dollars by the new year.
You can visit here to see our live Bitcoin currency converter which also shows historical trading rates for the major currencies. Seeing is believing.
Recent increases in Bitcoin value have been attributed to people needing to move away from hard cash because of restrictions being introduced. Unexpectedly, India, Venezuela and China are all moving away from high value notes in an attempt to prevent money laundering. Are we going to move away from paying for anything in cash?, it looks that way at the moment.
Owning Bitcoins is now being seen as an alternative to having cash in the bank. There are some advantages, the main one being that there are no bank charges. The disadvantages are that you are limited to where you can spend your Bitcoins. However, more and more businesses are accepting payments in Bitcoin. There are also an increasing number of bitcoin ATM’s being installed in major cities around the world. Maybe there is one near you, check that out here.
The future of virtual currency investment seems to be set for a bright future as the world catches up with the concept of it. You might have expected the banks to have jumped on the bandwagon with their own virtual currencies. Apparently, they have been sitting on the fence because they cannot see how to make money out of it. The Bitcoin may become the first global currency of the world if things continue the way they have. Imagine if Bitcoin did become the leading currency of the world, maybe that could happen but what would the banks think of it? Interesting perhaps, something they cannot control could perhaps prevent them from participating.
Please note we are not investment advisers. We are just passing on knowledge we have gained and we do not accept any responsibility for any Bitcoin investment you might make. In conclusion, if you had purchased just one Bitcoins four years ago you would be sitting on a profit of 770 dollars. That would have have been a hell of a Bitcoin investment.
Update: During June 2017 the value of a Bitcoin rose to more that $2,500 dollars.
Update: By August 2017 the value rose to more than $3,000 dollars.
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Disclaimer: This article only represents the author’s opinion and should not be taken as investment advice.