You have probably had the famous tagline off Bitcoin exchange (Bitflyer Inc.) born in Japan & raised in Silicon Valley. Though there are different risks involved in investing or using virtual currency, Joel Edgerton, the Chief Operating Officer of the United States business for Bitflyer Inc., firmly believes that this is an exciting era for the cryptocurrency world. Some of these risks include liquidity, system failures, and fluctuating price of cryptocurrencies.
However, Edgerton believes that if done right, cryptocurrencies can be an essential catalyst for wealth generation. How does bitcoin work? Why is it so popular? And what should potential and current investors know before they invest their money in Bitcoin? Before you start finding a reliable bitcoin converter to convert your BTC into fiat currencies, here is what you should know about bitcoin investments.
Bitcoin is all the rage now…
Bitcoin originally began after the financial crisis of 2008. Its developers set it up as a response to the loss of trust within the financial system and the collapsing of most financial institutions such as banks. Bitcoin allows users to successfully bank themselves and have their own store of currency just like precious metals like gold.
Traditionally, when there is a substantial level of risk in the markets, most investors turn to gold as an effective way of protecting themselves from the uncertainty associated with financial markets. Bitcoin is seen as a much more effective way of doing that. This cryptocurrency protects investors from the risks in the current financial markets. Currently, these risks are increasing as more governments continue printing trillions of dollars of new money. So, many people see bitcoin as something that could effectively protect their wealth and their savings.
Getting started with bitcoin investment
If you are new to the world of Bitcoin and any other cryptocurrency trading, getting started is easy. The first step is to choose a company that you can trust. The company should be licensed by the relevant authorities and has been operating for a while. Such a platform can protect you and your financial information. After all, you have had countless cryptocurrency trading scams or frauds.
There are many people trying to take your money, which is why you should choose a trustworthy company with proper security measures in place. Bitflyer is one of those reputable companies, and it has been around since 2014. This is a traditional and decentralized exchange. Any customer can just sign up. According to Edgerton, there is some kind of ‘know your customer’ (KYC) because Bitflyer is fully regulated, which means it must pay attention to the regulations it must adhere to.
Customers can successfully add their company into the platform and purchase bitcoin and the other coins on sale. It is very simple and easy to use. Indeed, they can hold the bitcoin they purchase, use it for exchanges, or even take it from the platform and add it to their wallet whenever they want. Bitflyer is basically a centralized exchange platform for investors to purchase bitcoin and other cryptocurrencies.
This is an example of how one of the many Bitcoin trading platforms works. Basically, you should pay attention to the trading platform’s infrastructure and determine if it can protect your interests as an investor. Keep in mind that you will put your money in the platform, and the last thing you want is to get involved in a cryptocurrency trading scam!
Benefits of investing in bitcoin
There are many misconceptions about bitcoin investments, but one thing is for sure: Bitcoin has been around for many years and has successfully demonstrated stability in the financial markets. As much as some analysts want to believe that bitcoin is volatile, statistics confirm otherwise. So why should you invest in Bitcoin?
Bitcoin is being adopted for practical applications. Just like the internet has been adopted in nearly every aspect of human life, bitcoin has made its way into modern society. An increasing number of businesses already use bitcoin as a way of payment. This cryptocurrency is successfully integrating into the business world, which means it is going to be around for a very long time.
Another reason to invest in bitcoin is that its prices are projected to keep on growing. This is a beneficial aspect to cryptocurrency investors. As the value and demand for bitcoin increase with a higher number of people than ever using this cryptocurrency as a payment method, the price of bitcoin will continue to increase. This trend is attracting both small, medium, and large businesses.
You probably know that there are many cryptocurrencies out there. Bitcoin remains to be one of the most popular cryptocurrencies as it is the backbone of nearly all other cryptocurrencies. It is also supported by most governments, and that means its popularity and use will continue to increase.