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Have you checked that whether any country has approved Bitcoin or not? In countries like Japan, Germany, Australia, and Denmark, the government holds a positive attitude to Bitcoin. In some countries like Israel, USA, Arizona and Switzerland Bitcoin could be used for paying taxes. So it’s not like no country has approved Bitcoin. Also, don’t forget that Bitcoin being a decentralized concept does not need Warren’s approval or any countries’ approval to operate.
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That’s great news for the natives of Philippines who are interested in and love to invest in Bitcoin. When a government gives approval to something, trading in it become a lot easier and fearless. But there is a drawback of this too. The scammers can fraud the general public by raising money from them in the name of Bitcoin. So be alert and make sure that your money in being invested at the right place.
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Actually, no government has still taken any decision right know, except a few like China, Japan, Germany. Most of the countries are silent on this issue. Yes, they are holding negative views about this crypto coin but have not banned it yet. So chill, don’t worry much about governments and enjoy its advantages.
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There are many advantages of investing in Bitcoins. You can earn a substantial amount of wealth by investing it, sitting at your home. You can pay or send Bitcoins to any person, in any corner of the land within some minutes. There is no need of your ID proof, passport or credit card details. Carrying huge amount of cash is very risky as opposed to Bitcoin, which is totally portable.
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No, Bitcoin can never be replaced by any other cryptocurrency. First of all, Bitcoin was the first of its kind. It will always remain original digital asset. This fact alone makes it all the more valuable. Second, Bitcoin can be easily upgraded. Any new functionality which is provided by any Altcoin can be added to Bitcoin also, as long as it does not affect its decentralization. Third, there are satellites broadcasting the network to the world. This means anyone can participate in Bitcoin without relying on internet functioning.
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With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
There are many risks associated with day trading. It involves costly capital. Like there are many considerable up-front costs like hardware, software, and news services have to be paid before you can begin trading. Ongoing expenses like ECN fees, real-time news fees, and communication charges have to be paid. A lot experience is needed to judge the movement of the market. As future is uncertain, prediction may fail. Also, day trading is much more addicting than gambling. |
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Currently bitcoin and ethereum rule over all cryptocurrencies,especially bitcoin.
If you had some money to invest in another alternative which crypto currency would it be and why do you choose that altcoin.
its fine if you suggest multiple as i dont plan to invest all my extra savings into a single altcoin.
Altcoins have become the best option if you seriously want to become the next cryptocurrency millionaire. Besides Ethereum, there are Ripple (XRP), IOTA (MIOTA), and NEM (XEM) which are good options to invest. All of these are at low cost and will add to your portfolio if you are looking for portfolio growth. So you need to conduct a background check of Altcoins and select the coin to trade with. |
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The main disadvantages of Bitcoin are that many people are still unaware of cryptocurrencies. They do not know what Bitcoin is and how they can use it in their lives. Second, Bitcoin is highly volatile due to the fact that the amount of Bitcoins is limited and the demand for them is increasing. Last, Bitcoin is still in its infancy stage so new features, services, and tools are yet to be added.
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Yes, Bitcoin is secured because of the technology that works behind it, known as blockchain. There are no intermediaries, no need for giving your personal details, fast transactions, which makes it impossible to hack. The math and cryptography have replaced human logic and greed. So Bitcoin is undoubtedly more secured than the existing financial services, including legacy banking platforms like SWIFT.
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As per my experience, you cannot trade without losing. If you are new to trading, which I think you are not, then it’s completely normal but even if you are an experienced investor, then also its normal because trading is all about predicting prices and predictions are not always true. What you can possibly do is, improve your strategies, never overtrade, study the trends carefully and have patience.
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With the intention of earning high amount of profits, I think the obvious coins which everyone will prefer are BTC, ETH, XRP, and LTC. Cryptocurrencies are highly volatile. They could be soaring high at the moment and the next day, you may find them dying. So there is no “favorite currency” kind of thing with cryptocurrencies as all of these are volatile. Do the research; understand the technology that works behind every coin to know that your money will be at a safe place.
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There is a golden rule in economics, “the higher the risk, the greater will be the profits”. So, I guess some amount of risk has to be borne, if you want to earn profits. And here, when you have specifically mentioned “big profit”, you cannot earn them without bearing any risk. But you should invest wisely, don’t invest more than what you cannot afford to lose. And take your losses as your lessons.
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Day trading is a form of dealing in shares or other digital assets in which the individual buys and sells the digital assets over the internet over a period of a single day. This helps the investors who are not willing to bear high risks in earning profits from small price fluctuations. But sometimes, the investors can stuck up in a position because the prices do not move as they expected them to. So, it needs good estimation power.
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This is probably the best time for buying Bitcoins. This is so because the price of Bitcoin is relatively cheap. If you will listen to the crypto experts, they say that they saw a great amount of potential in Bitcoin to grow further. But still take your time, do your research and then invest your hard earned money on Bitcoin.
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With the price starting to creep up again do you think it's a good time to start selling some of my investments or do you think it's worth holding on for a while longer?
We all know how temperamental the market can be but do you think this is just a short term spike?
Keeping the ups and downs in the price of Bitcoin in view, I think you should hold on to it. Bitcoin has a lot of potential as many investors and general users have faith in it. Especially if you want to earn high amount of profits, you should stick to it. As the prices are on the rising slope, you will regret selling it, afterwards. |
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Bitcoin is illegal in many countries like nepal, Bangladesh, Ecuador.
But no big economic power except China has announced it illegal yet. As Every country know its power to change economy so countries like US, Russia, India, Australia etc are analyzing its pro and cons before taking any firm decision on it.
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I knew it is not true. In India corporates are interested in adopting blockchain tech but don't want to come with cryptocurrency yet as the legal status of cryptos is not clear in India. There are some companies India which are coming up with new coins but majorly they are not established name in other sectors. Well established companies are staying away from it right now.
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