Epidemic growth of Bitcoin is making a crypto world bigger and bigger. Bitcoin is a part of the discussion among peoples these days. Who so ever wants to invest in cryptocurrency, here are the five essential facts one must not avoid before purchasing any coin.
- Satoshi Nakamoto:
Bitcoin’s founder Satoshi Nakamoto himself is a mystery because there’s still doubt about his real identity. Nakamoto is believed to own almost 1 million bitcoin which is unremarkable and unbeatable. Although the Bitcoin founder is Satoshi Nakamoto, He can’t control the currency himself. No single entity represents Bitcoins, but in fact, it is managed by everyone who logs and validates activities of bitcoins across the world.
- Limited Number of Bitcoin:
Although there are many Bitcoin minors which mine the bitcoins, they are very slowly approaching to a limited number of bitcoins, i.e., 21 million bitcoin but World’s population is a way more than it. According to a record, almost 33 million peoples are a millionaire who has the power to purchase bitcoin and that’s the case more awareness will increase the cost of bitcoin over a period.
I don’t think it’s not a big deal for BTC, if you see bitcoin at the cost of $20000 over next 2-3 years.
- BTC Network is extremely powerful than any supercomputer:
Even you combined the power of 500 supercomputers, you will get a 274 Pflop/s, but Bitcoin network is having the ability of 2,046,364 Pflop/s.
- BTC Transfer is irreversible:
If you made a payment or any illegal payment sent to any address, you can’t get it reversed, and that’s the part no one could control in the crypto world.
- Highly Volatile:
Over a period, we are finding extreme growth in the price of BTC. Even it touched to $10000 mark, and predictions over BTC are infinite.
- Don’t Lose your Wallet:
There is no way to get back your wallet so always remember or securely save your wallet.
- No Government Control:
Either it’s govt of India or any other country; they have full control over bank transactions but no government can control transaction over sending and receiving money on the blockchain, and that’s the reason illegal payment is also payment via bitcoin.
- Vancouver is the first Canadian city where the World’s first Bitcoin cash machine was installed.
- Lamborghini was the first car company who accepted Bitcoin in exchange for cars.
- Kreuzberg is a first Berlin city where you can shop any products in exchange for bitcoin.
- 2,00,000 is the lowest amount of bitcoin transaction per day.
- Black Friday sales and purchasing held on bitcoin in more than 200 business companies.
Bitcoin is No. 1 currency in the crypto world and will be leaders for the next few years. That’s the reason; we always prefer to purchase Bitcoin or to invest in Bitcoins for long-term gains.
BUT! BUT| BUT!
As it’s popular saying “Don’t put your all eggs in one basket” and in the same way, I will recommend you to diversify your investment in cryptocurrency. Invest in a certain number of percentage between Bitcoin and Alt coin is preferable like if I talk about myself, I have diversified my portfolio between 6 coins, i.e., Bitcoin, Ethereum, Dash, Neo, But connect, OmiseGo with the percentage ratio of 40:10:10:10:20:10 respectively.
Diversifying your cryptocurrency Investments In a ration given above is not an investment advice. Please do your diligence before deciding about the coin investment. I am a trader and keep changing the ratio of my portfolio according to the situations, short-term, and long-term gains.
Few challenges in front of countries are money laundering, terrorist financing and no supervision over blockchain address and that’s the reason Bitcoin is not legit in the majority of nations, but G8 (Canada, France, Germany, Italy, Japan, UK, US, EU) legalize the transactions in Bitcoin.
K.C. Chakrabarty, Deputy Governor of RBI, also stated that they have no plan on regulations of Bitcoins and it’s legal in India.
I hope my information will help you a lot to pick the right investment coin at low risks.
Here is a question for you:
- What will you hold back before investing in a crypto world and how are you assuring about same?
In case, you have any question or want to drop feedback; please let us know in a comment box. We will be more than glad to assist you with our information.