When new technology comes up, you can almost be sure that a billion-dollar economy is going to spring out of it. Although digital currency has been around for a while, its strength has gained more traction in recent times.
Bitcoin is the father of all digital currencies. The Bitcoin network facilitates value transactions between peers without involving third parties, for instance, banks.
Bitcoin’s market cap of around $20 billion is a substantial amount considering that the market price is low, players are few, and the whole batch isn’t in circulation yet.
Obviously, there’s great potential for growth, and the earlier you climb onboard the better your prospects of getting rich through digital currency. Digital currencies necessitate complementary technologies, and service industries, both of which are virtually untapped as yet.
Even though bitcoin is still in its developmental stage, you can make a profit off of it. Actually, you can make a living. You’ll need only a brain and a heartbeat. O, and the internet connection.
Bitcoin price is volatile
This is the main reason bitcoin is such a trading gold-mine. The price of a bitcoin against the dollar keeps fluctuating, so one day it’s high, and the next day it’s down, and then it’s further up. This volatility scares the hell out of everybody.
In a worst case scenario, you would buy bitcoin today at price X, and then tomorrow the market price would crash, so if you wanted to sell back you’d only make a loss. You’d even be tempted to think you’re unfortunate, but a real trader would count himself lucky, though, and rather than sell his bitcoin at a loss, he’d instead buy more bitcoins!
Such a trader understands that the bitcoin is still in its developmental stage and it is yet to hit its all-time high. So, when the prices are low, he buys in bulk, anticipating that someday prices will go up, so he might sell high.
You should not be discouraged by the price volatility of bitcoin, only get a new perspective.
There are many trading platforms out there that you could sign up for, but the best platforms should allow for automatic settings, so that you can buy when prices are down, and sell when prices go up.
Most trading platforms have put in place tight security measures. And so, you shouldn’t be worried about encountering a thief.
Whaleclub is one of the best considering that it has even a training program.
Peer to peer lending
Another way you could invest your bitcoins is by joining a peer to peer websites and loaning them. You’ll loan them your bitcoins on your terms and you can expect payment with interest.
You should conduct extensive research before you join a platform, as you might loan someone and they effectively disappear, and since digital currencies are not regulated, you’ll have no one to cry to.
Btcjam.com has great security measures.
Online peer to peer marketplace
The above online peer to peer exchanges will allow you to trade with people from your country of residence! Sign up and begin making profits!