People in their 20s think they have their whole life to think about investment. However, there is no correct age to start investing. The correct approach would be to start investing as soon as possible since, with the progressing time, money starts losing its value. Therefore, it becomes essential to start saving and investing in a market that can give maximum profits. We see our parents or elders investing in a bank; however, the bank does not give you back profits. It just keeps the money at its present value. For example, if you deposit $100 in your bank today, it would give you a maximum of $110 at the end of the year. This $10 is not profit. Over time, money’s value also keeps decreasing, and the prices of products and everything keeps increasing, so earlier what you could have bought with 100$ bill can now be bought only with 110$. Although this is also not a nasty form of investment since, at least, your money is not losing your value, the thing is, no one has become rich by just saving in a bank, and that’s where the cryptocurrency market, bitcoin particularly, comes into play. If you want to start trading in bitcoin just simply click this link to get started with your Bitcoin trading.
To give a brief about bitcoin, Bitcoin is the first decentralized currency originated in 2009 by pseudo-anonymous Satoshi Nakamoto. It came as an answer to the inflation faced in 2007 and 2008, but it started gaining popularity much later. Now, bitcoins do not exist in physical forms. These are virtual coins kept on a public ledger that is transparent and is accessible to all. Every transaction made using bitcoin is verified by a massive amount of computing power. More importantly, bitcoins are not government regulated, nor does any bank or individual exercise authority over them. Blockchain technology is what bitcoin is based upon. Blockchain is a system that has the information of all the transactions made using bitcoin across the entire network system. Bitcoin also uses peer-to-peer technology which means that you can transfer bitcoin from your wallet to any person’s wallet without any other middlemen such as a bank. It is a direct transfer between 2 individuals.
You are now coming to the question of why you should consider investing in bitcoin? The answer is simple: the profit return is high; however, it all depends on the market. If you would have bought a bitcoin, say 4 to 5 years back then today, you would be pleased with your decision as to the return that bitcoin gave in just 3, 4 years was sort of like someone won a lottery, but as it is said it’s never too late to start investing so you can start your investment journey today. However, there are some points that one should keep in mind before entering the crypto market, such as.
• Do not invest all your money or take loans to invest. This will probably be one of the most critical pieces of advice. The Crypto market is volatile, and there are high risks involved. Although the market can give high returns because of the increasing value, it can still dip too, and in that case, you can lose all your money.
• Do not invest your money based on speculation. Most people invest solely based on speculation that the price will rise. This is not the correct approach. Instead, you should do your research and know beforehand why there are chances of a price rise which is usually attributed to the feature or characteristic of the coin.
• Lastly, one of the most important pieces of advice would be to remain patient if you have invested any money in the crypto market. As this market is prone to risks and rises or falls within minutes, therefore, remaining patient with your investment is the key. Hold your money for as long as you want to, and don’t start selling if the market falls. You are bound to get higher returns if you hold it for sometime