Do you hate risks?: How to securely invest in Bitcoin
Bitcoin, and cryptocurrency in general, is a hot topic in 2021. People who invest in bitcoin seem to get wealthier day by day and share their success stories on social media platforms. As a result, bitcoin is an enticing investment opportunity and those who are not investing in it feel left out. However, there are several risks of investing in bitcoin that nobody can avoid.
Does this mean that you should completely steer clear of it? No, there is a way to go about it. Here are 3 tips that you should follow when investing in bitcoin if you hate risks.
Always focus on the bitcoin market
Just like the days, the price of bitcoin is ever changing. On August 1st 2021, the closing rate of 1 bitcoin was $ 41,746.57. On the other hand, the price was $ 39,106.31 on August 5th while on 10th August the price was $ 45,639.42.
The price of bitcoin changes within minutes. Due to this, it is difficult to predict what you will receive in return when investing in bitcoin. Consequently, you may end up making a huge loss if you don’t keep an eye on the bitcoin market.
Although investing a large amount of money in bitcoin seems like a good deal, a small investment is better. This is because the bitcoin price market is unpredictable. As such, you are likely to lose a lot of money if you made a huge investment. The only way to avoid this is by investing a small amount. Better safe than sorry. Right?
Allow third parties invest in Bitcoin for you
There was a time when bitcoin investment was a secretive transaction. The only way you could take part in it was through the dark web marketplaces. Hence, many had to use tor web browser and darknet. Things are different now and there are a number of financial institutions which take part in bitcoin investment through different cryptocurrency funds.
Investing in any cryptocurrency is an uphill task for beginners especially when they have to buy the cryptocurrencies by themselves. First, they will need to maintain a cryptocurrency portfolio. This involves handling a number of wallets and taking part in numerous exchanges while keeping an eye on the market. A newbie who has no clue where to begin will have a hard time despite going through a number of articles as a guide. Luckily, there are third parties who can solve the problem.
The main role of these third parties is to build and maintain your portfolio. As a result, you will receive high returns. There are a number of bitcoin hedge funds, trust funds and index funds that will be of great help. Examples are Pantera Bitcoin Fund and ARK Invest.
Bitcoin investment poses a number of risks like privacy and security risks. However, this does not mean that bitcoin investment is not worth trying.
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