New to Bitcoin? You hear many people “rumor” that investing in bitcoin has a lot of profits!
So how bad is it? Let CHK learn what bitcoin investment is? and how to play bitcoin!
What is Bitcoin investment?
It’s like investing in gold, or real estate. You buy gold or land hoping the price will rise over the next few years to make a profitable sale.
So is Bitcoin!
Investing Bitcoin is using your money to put your money in Bitcoin with expectations Bitcoin price will increase in the future to sell at a price higher than the purchased price.
It is also easy to understand, right!
Is bitcoin investment safe?
When reminded of the word “investment”, you are also a bit afraid because you are afraid of “losing money”, right?
I also made it clear that investing in bitcoin is a sum risky investment but not safe.
Because the technology that creates Bitcoin is also very new. And Bitcoin itself is also developing day by day to become more complete.
No one knows before tomorrow what Bitcoin will be like. Or will there be any currencies to replace Bitcoin?
So when you invest, you should only use money that when losing will not affect your life.
Risks when investing in Bitcoin
Maybe you’ve heard of “No risk, no rewards“Right.
If anyone has not heard, you can roughly understand without risk there is no reward.
The greater the reward, the higher the risk.
Investing or playing bitcoin can bring you huge profits. However, if the profit is high, the risk is also extremely high.
Here CHK will present you with some risks that you need to know before investing:
- Price volatility: Bitcoin has a large price volatility. In a day it can fluctuate by a few percent, but at times it can be as high as 20-30%.
- Security: Although Bitcoin has never been hacked and it is very difficult to hack, in the future we will not know.
- User: This error is caused by user carelessness. It could be forgetting or leaving the secret keys to access the wallet, transferring the wrong address, …
- Exchanges: Many people buy Bitcoin through exchanges and leave it on the exchange. Some floors may crash and you will lose all your money.
Should 2021 still invest in bitcoin?
We have just passed the first few months of 2021. Bitcoin price has consistently broken high and currently stops at almost 42,000 USD.
The reason is partly due to the event Bitcoin Halving by 2020, the Bitcoin mining rewards are halved. According to historical data, after this event, the price of Bitcoin increased dramatically.
Not only that, Bitcoin is increasingly accepted. Just a few months ago, there were many big companies joining the market such as MicroStrategy, Square, Paypal, …
MicroStrategy was also known for buying more than 70,000 BTC worth more than $ 1.8 billion in December 2020.
This trend is likely to continue into 2021.
With the volatile macroeconomic situation such as: governments constantly launching stimulus packages, too much money printing, low interest rates close to zero, Bitcoin is seen as a safe haven. with investors.
Since Bitcoin is not issued by a central bank, it is not regulated by any government institution.
So even with strong fluctuations in the economy, Bitcoin’s value is not affected much.
Many investors also predict the price of Bitcoin can be up to 50,000 USD, 100,000 USD or even 200,000 USD.
However, Bitcoin is a venture capital channel, many people get rich thanks to Bitcoin, some also lose a lot.
So if you intend to invest in Bitcoin, you should learn carefully and make a decision!
How much money do investing in Bitcoin play?
I think that when I first heard about 1 Bitcoin, it was about 200 million VND at the time of writing. Surely you too Bitcoin investment will need at least a few tens of millions to a few hundred million.
However, you only need 2 million VND to be able to buy 0.01 BTC. So with 2 million VND, you can also play bitcoin already.
Although this amount is not much, but new to join, I recommend trying only 2-4 million to get used to it first.
Instructions on how to invest in Bitcoin for newbies
1. Learn about Bitcoin
If you don’t know, billionaire Warren Buffett won’t invest in something he doesn’t understand. So you should also understand exactly what Bitcoin is before investing, right?
If you already understand, skip this step. Here is a detailed article for you to find out in detail.
What is Bitcoin? [Thông tin toàn diện nhất về đồng tiền ảo BTC]
2. Create a Bitcoin wallet
A Bitcoin wallet is where you can store it as well as you can use it to transfer and receive. So understanding and choosing a wallet is essential.
What is Bitcoin Wallet? Top 9 reputable, safe and best wallets
3. Buy bitcoin and how to buy it
If you want to invest in Bitcoin, you must buy bitcoin, right. If you are still on the rise, see the post immediately where to buy bitcoin Please!
4. Reputable exchanges
When investing in Bitcoin, to maximize your portfolio diversification or increase the number of Bitcoins, you must trade on major exchanges to buy and sell Bitcoin, Altcoin.
Some famous floors such as:
CHK encourages you to choose Binance floor. Because it is the largest exchange in the world right now and the ecosystem is rich with many services to choose from.
4 Tips for investing in Bitcoin
1. New investors should trade in small quantities
Bitcoin transactions are unlike any other form of online payment transaction. For example, when you transfer money online via internet banking of Vietcombank.
If you send the wrong account number to someone else, you only need to ask the Vietcombank bank to cancel the transaction.
But not with Bitcoin, you send it wrong Bitcoin wallet address of others is considered irrecoverable.
So when I first started invest in Bitcoin you should trade small amounts as getting acquainted first. When mastering, grasping the process of all transactions, we can trade in large quantities.
Moreover, investment always comes with risks. So you should not use in large quantities to avoid affecting daily life.
2. Always keep your account, wallet safe
Some of my experiences for you to be safe:
- Avoid websites that fake your trading floor. Before trading, please check the website address.
- Do not give account information, private keys to strangers
- Do not access links that you do not know what it is
- Don’t believe the winnings, giveaway asks you to send them Bitcoin and then they send it back.
- Store keys or recovery characters offline to avoid hacking.
3. Do not store Bitcoin for too long on the floor
In addition to how to store Bitcoin via Bitcoin wallets, quite a few people choose to store directly on cryptocurrency exchange.
Normally, each exchange will allow us to create a separate Bitcoin wallet address to store directly on the exchange, each coin they will provide 1 wallet for that coin.
This is only appropriate for your time trade coin or surfing on that floor only, for long-term investment, you should use the wallet that I mentioned above.
Because of the virtual currency exchange Whether big or small, hackers are almost always “stalking” to steal customers’ coins or when the floor goes down, you will lose all the Bitcoin you store on it.
The most recent example of a hacker is Japan’s MtGox exchange, where hackers stole more than 750,000 BTC, or about $ 1.5 billion at Bitcoin’s current exchange rate in 2014.
Or just last month the Bitcoin exchange Btc-e.com A large, reputable and long-standing exchange got involved in a money laundering case that resulted in the exchange’s owner being arrested by the FBI, leading to a shutdown.
Up to now a lot of houses Bitcoin investment still not know where his Bitcoin will go.
4. Regularly updated Bitcoin news
News is an extremely important factor in the cryptocurrency market. It directly affects the price of any virtual currency and Bitcoin Is no exception.
Therefore, you should regularly follow and update Bitcoin related news to understand the market situation and make a decision to take profit at the right time.
CHK.com is the channel news about Bitcoin You can follow or you can update at major foreign crypto blogs such as: https://news.bitcoin.com/, https://cointelegraph.com/ or https://www.coindesk.com/
Invest in Bitcoin in particular and the market electronic money in general is opening up opportunities to make money for anyone who knows how to seize the opportunity.
Bitcoin good Altcoin are tend to be profitable investment in the future instead of Gold or USD.
Currently, this market in Vietnam, although it has been through many waves and waves as well as a lot of knowledgeable people.
However, Virtual currency blog Still have to note again please invest in Bitcoin In a smart and strategic way, don’t apply “gambling blood“Enter this market or you will regret it.
Of course like I said invest or play Bitcoin there is always a risk. You should consider carefully before entering the virtual money market and invest with an amount “within your reach” that can not affect your family’s finances.
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Or any questions about investing Bitcoin, Altcoin, leave a comment below, I will try to answer you as soon as possible. Good luck.
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