Bitcoin Quick Start Investment Guide 101
Why invest in Bitcoin?
We are at the forefront of another “dot-com” boom. The entire cryptocurrency market is breaking all-time highs across the board. Bitcoin is now one of the 30 or so largest currencies in the world, and all across the world, people are looking to invest in bitcoin.
According to the 2017 study done by the Cambridge Center for Alternative Finance, the Global cryptocurrency benchmark study, the current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 million and 5.8 million and between 5.8 million and 11.5 million wallets are estimated to be currently ‘active’.
Are we in a bubble? Definitely.
But that statement doesn’t say anything, does it? For example, at what stage of the bubble are we at the moment? Well, let’s look at the numbers.
The current adoption of cryptocurrency is less than 1/2 of 1% of the world population. This places us in the very early days of non-technical adoption. Just look at this year-to-date bitcoin chart, bitcoin went from $750 to almost $12.000.
That. Is. Just. Crazy!
We’re witnessing exponential growth, and it has no signs of stopping. Big money will pour into the market as there are plans to add bitcoin futures by CME and NASDAQ in the coming months.
The total market value of cryptocurrency has increased from $18 billion at the start of the year to over $300 billion today. Just a few years ago cryptocurrencies were portrayed by the media as scams, pyramid schemes, medium for money laundering, terrorist financing and what not.
Does Bitcoin have intrinsic value?
Bitcoin is a financial instrument that is based on scientific logic. This logic is derived from the mathematical bases and protocol upon which bitcoin is built. The protocol itself is transparent, and anyone can review the code that’s underlying it. Those who use bitcoin understand the implications.
There are no hidden fees, random fund seizures, blocked accounts, no hassles or declaration forms, or anything like that. The protocol is virtually unhackable and immutable and if appropriately used, entirely private. Bitcoin recognizes no borders, no work hours and no weekend or holidays. Bitcoin put merely is better money than fiat just by the nature of it.
There is a lot of debate in the financial and cryptocurrency world over the real value of Bitcoin so consider everything you read with a grain of salt. An argument can be made that there are several features of bitcoin that give it intrinsic value.
How to Invest in Bitcoin: A Guide for Beginners
.
