it's too late to buy Bitcoin. Its value is increasing day by day.We should have bought it couple of years ago. In 2025 people will say it again, it's too late now. It us said that the future economy will depend on bitcoin.
Digital currencies like bitcoin, ethereum, dogecoin and SafeMoon might be all the rage right now but are they wise asset group to invest your money in?
What exactly is bitcoin, and how does it function?
The idea of people sending digital money over the internet isn't all that difficult — after all, moving money from one online bank account to another is just that.
Cryptocurrencies, such as bitcoin, are a form of payment that sends data over the internet using blockchain technology.
Each bitcoin must be mined using a computer.
It is restricted – there are only 21 million bitcoins available for mining.
Cryptocurrencies are "decentralised," which means they are not governed by a financial body such as the government or central banks.
PROS: Cryptocurrencies are universal, which means they have the same value in all countries and are not subject to exchange rates.
CONS: Cryptocurrencies have a high level of volatility, making them a high-risk investment. People have also mentioned having to wait for their money due to technical difficulties.
Is it wise to invest in bitcoin?
Bitcoin is considered to be at the (extremely) risky end of the investment continuum.
The value of cryptocurrencies fluctuates a lot.
You could end up losing money.
Many of them are largely unknown.
Some businesses may go out of business, while others may be scams.
Due to technical difficulties, some people have had difficulty accessing their income.
Occasionally, one's value will rise, resulting in a profit for investors.
Mark Hipperson, CEO of cryptocurrency platform Ziglu, makes the case for digital currencies being mainstream. “With more and more major brands embracing crypto, such as Tesla and Starbucks, there seems to be little chance that crypto will soon be embraced in as many places as conventional currencies.”