So What is Bitcoin?
What is Bitcoin?
How Do People Make Money With BitCoin?
- In 2010, 1 Bitcoin (BTC) was virtually useless.
- In 2011, 1 BTC were equaled to 1 USD
- In 2013, 1 BTC reached up to 1000 USD
- In 2015, 1 BTC went down to 500 USD.
- In 2017, 1 BTC reached 9000 USD.
So how do you make or lose money with BitCoin?
Why Is The Price of Bitcoin Going Up?
- Because more and more governments, businesses and everyday people worldwide are willing to accept it as a currency.
- Because people are buying it to make money.
Will BitCoin withstand the years and become more popular as the years go by?
Cryptocurrency is virtually new and we don’t really know if they will still be present in the future and outdo “real” currencies.
However, I am expecting that the value of BitCoin will go up, simply because of reason no. 2. Demand for BitCoin will go up, since people speculating on it will want to make more with it.
Until the craze dies down and the value will go to its actual worth as a currency.
So for the meantime,
For beginners, I am recommending that you may use bitcoin as a currency like I do with with Coins.ph.
But! Do not treat it as an investment.
If you are financially literate and would like to explore the world of BitCoins, treat BitCoin as a speculative investment. Invest in BitCoin only money that you are not afraid to lose and make sure you already have an emergency fund, regularly saving and investing.