We live in a world where most of our life chores depend upon the internet. Digital currencies are trending these days and surely they will be the future of financial transactions. The virtual assets will change the way we do monetary dealings. Bitcoin is the pioneer of all digital currencies and assets and is one of the most stable ways of investment among virtual assets.
From the start, bitcoin has gained a reputation as the most valuable asset in the digital financial world. Due to its secure nature it has attracted a lot of investors worldwide. It is open, anyone can buy bitcoin.
At the start of this year the COVID affected all areas of life including digital currencies. Bitcoin plunged rapidly and went under $4000. But now as the time goes and everything seems to be getting back to where it was before especially after the announcement of vaccines.
The ray of light that vaccines have generated also caused a positive effect on the trading markets. Similarly, bitcoin has also got stabilized and stocks are up now for you to invest in.
So here are five reasons for you to invest in bitcoin to get profit in 2020.
Initially, there were only a few currencies were there in the crypto currencies world but now we have approximately more than 7000 currencies. You may find it difficult to make a decision as to why you should buy an expensive currency, i.e., bitcoin when there are other cheaper alternatives available.
But remember digital currencies are highly volatile if they are not established well including the risk involved in trading. It is always recommended to put your best bet on a highly established currency having the best architecture and infrastructure.
And bitcoin checks all the boxes for a secure investment, plus it has a better liquidity than others. Therefore, it is a top pick by experts.
Bitcoin started as a digital currency but it is now an asset due to its scarcity. Just like gold is a scarce resource on earth, bitcoin is a scarce resource in the online world. According to one study, if we look closely at demand and supply of bitcoins there is a huge gap and with time they will be more difficult to mine, ultimately the gap will increase. This will make it a more valuable asset than any other resource of the planet.
According to experts in the ten years’ bitcoin may cross the rate of one million dollars and take up market share of gold.
The stocks plunged down due to the corona outbreak all across the world, and made the bubble of the market burst. The GDPs went down and unemployment increased and we are still facing a little better but the same situation.
The bitcoin did go down with the stocks but it has recovered more speedily than other stocks of the globe and is expected to rise more. Therefore, it is a safe investment that will never put you in loss.
The Best Return on Your Investment:
Bitcoin has recently plummeted and as history of this coin shows whenever it goes down the prices skyrocketed after that. For example, when it first went down in 2012, just in a year it recovered with an increase of 9600%. In 2016 when the value decreased it went up by 3000%.
So this time too it is predicted to increase rapidly in a year, i.e. to put a safe bet surely it will double and maybe it would increase more. So, if you want a best return on your investment in the short or long term, investment in bitcoin is a good option.
Inclusion in Society:
Bitcoin is trending and societies all across the globe are adapting to the bitcoin ecosystem. With every passing day bitcoin is incorporating itself into the society as a solution to modern world problems. The conventional fiat currency comes with a lot of problems that bitcoin claims to solve.
For example, it could be transferred to any part of the world in just a few seconds with negligible or no surcharge. As on the other hand traditional currencies take days for processing, besides transaction charge a considerable amount as a fee of transaction. No doubt bitcoin is the future of financial transactions.