Before moving on to the Bitcoin market, you must know what a Bitcoin is. It is a cryptocurrency or a digital currency. In short, it is a currency that is entirely virtual. It is safe to say that it is an online version of cash. You can buy products using bitcoin as your payment method.
Bitcoin holds a lot of value as people are willing to give away their goods and cash in exchange for it. Talking about its security, each transaction made is recorded publicly, which makes bitcoin difficult to copy or make their fake copies.
Some Bitcoin Investment Tips By Eric DaliusMiami
Eric J. Dalius is a Miami based marketing expert and a reputed entrepreneur. If you are willing to invest in bitcoin and looking forward to entering the marketing world, Eric Daliusis someone whose advice you should consider.
- Why invest in Bitcoin?
Bitcoin is amongst the most trusted and recent cryptocurrencies which use encrypted data to proceed with transactions. It would be best if you considered investing in bitcoin because of its availability, which is around 21 million bitcoins—leading to the conclusion that it is hereto stay for a long time. To maintain the economy in these tough times of Covid-19, the bitcoin market has been on the rise.
- Investing options in Bitcoins
Here are the following places from where you can either buy or invest in bitcoin-
- Bitcoin trusts and funds: You have an option of buying shares in a bitcoin trust if you don’t wish to handle it on your own. It is similar to mutual funds. It would be best to choose a bitcoin trust that tracks the digital currencies and uses the conventional financial market for trading. The only con here is that you will have to pay a high fee to the fund or trust.
- Buy from cryptocurrency exchanges: Investors ready to handle it all by themselves can buy bitcoins and deal with the transactions on their own. But it will all work only if you have experience with digital currencies. By investing on your own, you will also get to withdraw bitcoins and transfer them to any other account of your choice.
Impact of Covid-19 on the Bitcoin Market
The beginning of March 2020 was a huge disaster for many global markets. As the pandemic spread like wildfire, the stock market also saw an extreme fall. It was a huge blow for the hospitality and the tourism sectors, as the nationwide lockdown was implemented everywhere. But the cryptocurrency bounced back. As the economy went on a low, people who never thought of using the online mode of the transaction were forced to try it out. Bitcoin made the most out of the pandemic because people started facing a lot of financial fraud, and bitcoin being a secure method gained people’s trust.
Cryptocurrencies have always been the town’s talk, which is why investors keep showing interest in it. If you wish to invest in bitcoin, follow the wise suggestions of Eric Dalius Miami, and grow your bitcoin empire.