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Why cash is better than bitcoin? As what they say? There are many factors why. Let us distinguish first what is cash and the other, the bitcoin. Cash is a form of real money. It can be used in the market to buy, used as a exchange when selling, and others while in the other hand, bitcoin is another thing, it is somehow an commodity, it is not a real money, but it represents money. Just like stocks or shares, marketable securities, etc. Bitcoin only represents a value, a fluctuating one. We should never make this an distinguishement because at the first place, cash is already been used in the market since then even bitcoin was not yet born or existed, even at those hoe many thousand years ago. We should always remember that bitcoin is a cryptocurrency, a digital currency representing a value and is used for an investment. An asset indeed.
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What is its difference? How does bitcoin differ from a fiat? From a currency used in different countries? Like dollars, philippine peso, yen, euro, why? First let us define it. Fiat, or money, coins or paper are used in one country, it is the economy's medium in order to buy goods in the market. In the order hand, what is bitcoin? It is an cryptocurrency. One of the cryptocurrency and the first in its kind. It is made to help people access the world without less fees through remittances. Rather than having a remittance center from where you came from to the country where you want to deliver your money. Why am I saying this? These cryptocurrencies are like stocks. The do not have value in the real world. They do not have physical sense of monetary value but they repressnt value. How? Example a share from a company. Buying a share will cost you 10$ each. But you cannot received any goods reciprocal to what you bought but you have bought a part of their company. What you bough represents a value. So why bitcoin? Bitcoin's price fluctuates. Investing in bitcoin is like investing in forex or foreign exchange. That is why those who are veteran in forex are also the ones who are too good in bitcoin also.
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Well it is the truth. As a new year starts, a new journey will also be starting. The cryptocommunity will be increasing this year. That is for sure. But we should not just say the year will be for bitcoin alone, but also for all other alternative coins living and existed. It is somehow excited and how the community of crypto has drastically increase for the past years, it is because if bitcoins benefit and advantages given to the whole community, earning and making money with it. Soon, bitcoin together wilth other alternative coins will become a mode of payment in our daily living.
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The decision should be in your hands. You should decide for your own. But why? Because if you believe and act to the ones who advises you to maybe hold or sell such bitcoin or alternative coin, you might end up regretting believing in him or her. That is how it is. So should you decide, be curious and wise. Why would you sell? If you sell because there is a drastically breakdown of price of bitcoin, well do not worry because its just a correction. It happens every early month in the start of the year. Also be a researcher. Never always ask questions, the best answer is researching it and learning with it.
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There are so many benefits or advantages of having bitcoin. Not just bitcoin or other alternative coins but the all the tokens and coins, the cryptocurrencies as a whole.
1st advantage is appreciation of wealth. Technically speaking if bitcoin as an investment for you, then congratulations! You recognize bitcoin as an asset of yours, buying low and selling high even for short term trading or long term trading. The money or gain accumulated will be another source to buy other coins or tokens. Every moment you do, you wealth appreciates.
2nd is an additional source of income. If you are currently working and still bitcoin is one of your part time doings, then congratulations also. You made the right choice. Some people tend to say its better to focus on cryptocurrrencies but on my own opinion, if you you just started, do not yet quit your job. Make yourself have a building or dynasty of earning before quitting your job.
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You should always remember that you are in the cryptocurrency community. You need to be knowledgeable and educated before any actions you should take. Let me give some advises and put it in order.
1st if your primary objective or goal for long term hold of bitcoin, then you should probably missed the chances of profit in the near future. I am not saying or predicting it will increase but the chances it has to increase its price but to say the event of regrets once you made to sell your bitcoin.
2nd never be an emotional trader, trading needs to be tough. Not physical or mentally but also emotionally. Do not be distracted by your ego that when the price decreases slowly, you’ll sell it immediately, Do not do that. Its normal in the field we have entered.
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What plans I have in bitcoin? Well first, I will study more not just in bitcoin but the cryptocurrency as a whole. Because educating yourself is not just that when you learned something, you then stop. It should be an everyday education and learning. As what they say, education is a continuous process. You might not know in the future what your learnings may do or benefit unto you. Bitcoin with other cryptocurrencies will soon be mooning and be a legit and regulated with all governments around the world. Yet not today, still there are many arguments and talks happening in order for it to be happened.
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Yes you can be a millionaire. But how? When? Why? The first thing you need to do is to have a mindset of becoming a millionaire, through it, you can be whatever you want. To become a millionaire through the use of bitcoin and cryptocurrencies? You need to first study them. Study everything about cryptocurrencies. How does it value changes, what are the factors to its price movement, candlestick techniques, trading, exchanges who are legit, secured and other beneficial factors, everything that should be done for your success. Ask someone to become your mentor, or adviser, who will help you to guide you along the way. With these being educated and knowledgeable, everything will be conquered. You will become a millionaire. Stay positive. Stay a dreamer. You will what you want.
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