Obviously, the world is becoming digital. Now more and more people from all over the world have access to the internet and all kinds of businesses are going to make money online.
As the world becomes more dependent on the Internet, the need for a global, secure and digital currency is becoming increasingly challenging. This is exactly what bitcoin and other cryptocurrencies offer. Bitcoin is open to anyone who wants to invest in it.
However, unlike traditional investment opportunities, which are simple and well understood, investing in bitcoin requires time and effort to understand how it works and to understand it properly. Due to lack of knowledge and a lot of conflicting information online investing in bitcoin is scary for many people.
This article will put your mind to focus on whether to really invest in bitcoin in 2019 or not, but before that ”
Why invest in bitcoin?
Only 21 million bitcoins are available worldwide; and as people continue to mine, coins are born. In essence, this means that bitcoin is valuable. Take for example gold. There is a limited amount of gold; and as more of it is mined it becomes little, and hence more valuable.
The same goes for bitcoins. The value of bitcoin can be checked by anyone. You can tell when new bitcoins are being created and how many are in circulation. You can send your bitcoins globally, and no bank, government or financial institution can freeze them.
Bitcoin has an impact on the global economy; and as more people go online, its usefulness continues to increase.
How to secure your bitcoin
Investing in bitcoin is a serious business that needs to be taken as such. Hackers and fraudsters who want to get valuable information and cryptocurrencies from unsuspecting people are common on the Internet.
Because this type of investment is the Internet and is the most valuable investment on the Internet, it is exposed to many risks. It is wise to take steps to secure your investment.
In the past, there have been cases where hackers have broken bitcoin wallets. There are some best practices you can follow to ensure the security of your bitcoin. Here are some things you need to do:
- Keep only a small amount of bitcoins in each wallet
- Encrypt your wallet with bitcoins for an extra level of security
- Use a password that is extremely difficult to understand even for people who know you
- Always maintain the software
- Take a backup of your wallet and store it in various safe places
- Use an offline wallet to save bitcoin
Before investing in bitcoin, take your time to understand how it works, how you can secure your bitcoin, how it differs from regular currency and how bitcoin affects the world. With all this in mind, you will be able to make the right decision as to whether investing in bitcoin is right for you or not.