There are many benefits to using Bitcoin, some of the most important are as follows:
There are only 21 million Bitcoins in existence, 3 million of which are lost forever.
If you were to divide the 18 million bitcoins equally amongst the current world population you’d have less then 0.0023 Bitcoin per person..
Every intelligent investor should have a piece of this scarce asset in their portfolio.
This is actually easier then it seems. We recommend Gemini or Coinbase for safe and secure Bitcoin investments.
These exchanges charge a small fee which is currently unavoidable.
They will also give you $10 in free Bitcoin for your first purchase that is over $100!
We personally use and trust both of these exchanges with our Bitcoin purchases.
You are now in control of your funds, therefore you must keep them safe!
It is important to note that although we use exchanges to purchase our Bitcoin we are responsible for making sure that our assets are safe. Exchanges are third parties and trusting them often comes with risks. I personally have never had an issue with an exchange but we have seen many situations where exchanges have screwed over investors.
It is best to hold your crypto assets in your own private wallets. Before you do this you need to understand what your public key is, and what your private key is.
Public key: This is your Bitcoin address. After you have set up your Bitcoin wallet and secured all the important data you will send your Bitcoin from the exchange to this address.
Private key: This is a code that only you should ever have access to. This needs to be stored securely. If you do not keep this information safe and accessible to yourself you will not be able to access your Bitcoins.
This will allow you to access your assets. Never share this with anyone else.
Altcoins are alternative cryptocurrencies that launched after Bitcoin had started to become successful.
At the time of writing there are 5,693 altcoins in existence according to coinmarketcap.com.
Many of these are absolutely useless and many of them are scams. There is obviously no need for so many of them.
Because of this it is very important to be cautious when investing in altcoins and to do a significant amount of research before making any investment.
There are plenty of altcoins that are fantastic invesments. It’s all about picking the right ones!