Bitcoin has been going through quite a turbulent time recently. At the beginning of September, this crypto was introduced as legal tender in El Salvador: a real world first. But despite this considerable progress, the introduction of this digital currency has not been welcomed in the same way by everyone and has not gone smoothly: not all Salvadorans are delighted with such a change. . And to top it off, Bitcoin lost a large chunk of its value in an hour. From a very positive momentum to a mega disappointment?
The situation described above is a good illustration of why opinions are so divided when it comes to owning bitcoins. Some enthusiasts swear by this crypto, buying punctually to resell as soon as possible and earn money or by investing over a longer period while waiting to reach a certain amount, or the goal they have in mind, before asking for payment. For others, the fluctuations in its price are a real nightmare, so much so that this element alone is enough to prevent them from investing in this currency. It is true that the price of bitcoin can skyrocket as quickly as it can fall… So which camp do you belong to?
The pros and cons of investing in bitcoin
There is a lot of talk about Bitcoins and how to acquire them, but research shows that many people actually know very little about it. This tells us, in fact, how important it is to dig deeper into the subject of Bitcoins and explain to you the advantages and disadvantages you might encounter if you want to acquire it. Let’s not forget that buying this crypto-currency requires being able to invest large sums of money: it is therefore not a game. That is why we are going to list you below all the advantages and disadvantages of this currency.
- The price can fluctuate wildly, which can lead to huge spikes
- Transaction fees are minimal and transactions are fast
- Bitcoin allows you to pay anything anywhere in the world, all day, and even between different continents.
- This crypto can also be used to pay for your small daily transactions, such as your purchases at the supermarket, for example.
- This currency belongs to an extremely well-protected system. Also, unlike physical money, you can’t have it stolen, provided you take the right precautions.
- The price can fluctuate wildly, which can cause huge falls
- Many structures do not yet accept bitcoin as a method of payment. So even if it is possible to carry out small transactions with this crypto-currency, the supermarket where you want to make your purchases must still accept it.
- It is important to have sufficient knowledge of the market
- As soon as you validate a transaction with bitcoins, it can no longer be undone.
- Payments using this currency depend exclusively on the Internet, as offline payments are not (yet) possible.
Make a wise choice
Are you one of those who want to invest by buying bitcoin today when its price is at its highest, or do you prefer to play it safe by keeping your physical silver? Whatever group you belong to, you most certainly have good reasons for making this choice. The whole thing is always to have the necessary information and to benefit from sound advice. And this is all the more important if you decide to invest, a decision that requires taking advice from a professional. In any case, take the time to make a wise choice and, who knows, maybe very good things will come out of it!