A few months into the year 2021 and cryptocurrencies in general and Bitcoin in particular have seen monumental gains and a ton of promise. Let us explore a few reasons why you should invest in Bitcoin.
Contrary to popular opinion, Bitcoin and cryptocurrencies are not reserved for those who are computer or tech savvy, rather they are for everyone. Beginners can benefit from investing in Bitcoin just as much as seasoned traders. In fact, the currency exchanges that Bitcoin is bought and traded on are designed to be extremely user friendly, with many operations taking place with a simple push of the buy or sell button. This beginner-friendly experience lines up Bitcoin to be a suitable investment for many unlike stock markets and their hefty commissions, fees, and complex trading ways.
Bitcoin also has what is referred to as a first to market advantage. It was the first cryptocurrency ever created, and it remains the worlds largest. This gives this digital asset an edge that other cryptocurrencies may never gain. Almost synonymous with the world cryptocurrency, Bitcoin has what is seen as a brand name appeal in the world of technology which has primed it for continued growth and trust from investors. A well established coin lowers the chances of scams or data leaks. Additionally, the technology that makes Bitcoin possible (blockchain technology) is one that allows for decentralized, fast, and secure transactions that protect your privacy as well as your money. This technology is quickly becoming more vital particularly in situations where banking transfer fees have skyrocketed, and data privacy continues to be compromised.
We are also witnessing a very crucial point in time for cryptocurrencies wherein institutional adoption and investment are ramping up at unprecedented speeds. This is akin to the dawn of the internet when some key business savvy folk saw a ton of promise (think, Jeff Bezos with Amazon) in an industry that was laughed off as useless by many. This level of institutional investment is yet another vote of confidence for Bitcoin, signaling that widespread adoption is around the corner. In just the past few months, giant corporations and financial institutions like Tesla, HSBC, Goldman Sachs, JP Morgan, and so many others have either put money directly into Bitcoin, or Bitcoin-adjacent products and platforms. Investors will want to be on this train as it keeps picking up steam!
Finally, Bitcoin promises gains and returns like no other. Due to its volatile nature, the price of Bitcoin can increase dramatically as we have seen in the past few months. This lines up Bitcoin investors for impressive gains should they be able to weather the ebbs and flows of the market. In fact, Citibank has projected that the price of Bitcoin will increase by 800% in 2021 this price projection is to translate into impressive gains for investors and even an early retirement for a wise few who made it in early.