Should You Trade Or Invest In Bitcoins?

 

 Should You Trade Or Invest In Bitcoins?

Trading and investing may sound the same, but in reality, they are as different as day and night. Trading refers to a short-term method of trying to profit from buying and selling of bitcoins while investing refers to a long-term strategy where a buyer will hold on to their bitcoins for a long time and ride out any dips in the market price.

The Bitcoin Trader

The Bitcoin trader thrives on the exciting volatility of bitcoins. They’ll try to time the market and buy bitcoins when the price dips and then they’ll wait for the price to go up before they sell their bitcoins. Trading is a high-risk game because you’re betting for the price to go up or down. Not everyone can trade, however. The most successful traders are those who have nerves of steel and can detach their emotions from their trades.

Traders don’t get scared of dips in the price because they are optimistic it’s going to go up again, sooner or later. They are looking to maximize their profits, too, so they’ll mostly invest a lump sum and buy at the lowest price they can possibly go for, and then they’ll wait until the price is high enough for them to make significant profit.

Trading takes a lot of guts. It takes a lot of thought and analysis. If you’re an emotional type of person who gets physically sick with every dip in bitcoin price, then you’re better off investing, and not trading, in bitcoins.

The Bitcoin Investor

Bitcoin investors are different from traders. They’re in it for the long haul. They’re not looking to take advantage of short-term fluctuations in the exchange rate. If the price goes down by hundreds or thousands of dollars, they’re probably going to get worried, but they’re not going to pull out their investment because they’ve already decided they’re going to hold it for the next 10, 20 or 30 years.

A wise investor will practice the dollar cost averaging method to manage risk. This means whether the price goes up or down, they’re going to buy bitcoins and hold them. This strategy is perfect for long-term investments as you’re essentially spreading the risk. Though profits may not be as significant as short-term trading, the bitcoin investor probably sleeps easier at night as they’re not worried how the charts are going to look like tomorrow or the day after.

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Bitcoin Is The Future Of Money In Developing Economies

 Bitcoin Is The Future Of Money In Developing Economies

Bitcoin is fast becoming integrated into the everyday lives of people living in developing countries. With unstable and hyper-inflated national currencies, bitcoins are proving to be a much more viable solution to solving the financial woes of their citizens. Here are 4 reasons why Bitcoin has a massive appeal for the masses in developing countries:

1 – You Don’t Need Banks

In developed countries, it’s relatively easy to sign up for bank accounts and credit cards. But in the developing world, it’s a vastly different story. It’s much harder to get credit and setting up a bank account is no walk in the park. But Bitcoin changes all that. With Bitcoin, you can save your own bitcoins yourself – all you need is a secure wallet to keep your digital money safe.

2 – Fast, Cheap and Borderless Payments

With Bitcoin, you can send any amount of bitcoin to anyone in the world in a matter of minutes. When you send money through banks you not only pay those costly bank fees, you also need to wait for several hours or a few banking days. But with Bitcoin, as we’ve mentioned previously, you don’t need banks to send or remit payments to other people. All you need is their bitcoin address and voila! Your payment should arrive in the next 10 or so minutes.

3 – Bitcoin Can’t Be Manipulated By Anyone

Governments and banks can dictate the production and movement of their national currencies which ultimately leads to inflation. Unlike fiat currency, however, Bitcoin is a decentralized virtual currency. This means there is no controlling entity that tells the Bitcoin network what to do. Everything has been hard-coded into the network and the underlying technology behind Bitcoin, the blockchain, is tamper-proof and can’t be manipulated by anyone, not even its developer, Satoshi Nakamoto.

4 – Bitcoin Will Help Authorities Catch Criminals

Contrary to popular belief, Bitcoin is not anonymous. Rather, it is a pseudonymous currency because while your alphanumeric public keys provide a certain level of anonymity, computer experts can trace who owns which wallets and the amount of bitcoins each wallet contains. Now the masses who make small transactions don’t have anything to worry about. It’s the criminals who move large amounts of bitcoins that catch authorities’ attention, and it’s who they focus their research on, not the millions of people who make minute transactions.

 

 

 
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5 Interesting Facts About Blockchain Technology

 5 Interesting Facts About Blockchain Technology

Blockchain is the technology that makes Bitcoin and other cryptocurrencies very secure. It’s an open-source and distributed database that is stored in nodes or computers within the network.  When new transactions or blocks are added to the blockchain, it will automatically update itself. Here are 5 very interesting facts about this ultra-modern technology.

1 – It’s Tamper-Proof

Once an entry has been added onto the blockchain, it will be nearly impossible to remove or alter it later. If you want to alter an entry, you’d have to basically alter all the transactions that came after it. Doing this is mathematically impossible, so even genius fraudsters would have to look elsewhere to steal bitcoins without too much effort. Being tamper-proof is also the reason bitcoin payments are final and irreversible.

2 – It’s 100% Transparent

Anyone with access to the blockchain can see all the transactions that have ever occurred in the past. You can even look up the first ever block (block 0) that was mined by Bitcoin founder, Satoshi Nakamoto, in 2009. This genesis block contained the message “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

3 – Criminals Can’t Hide Behind The Blockchain

If criminals think they can hide behind the relative anonymity that Bitcoin provides, they’re sorely mistaken. Many have tried to evade the long arm of the law by converting their stolen loot to bitcoins and transferring them to different wallets, but with the transparent nature of the blockchain, computer experts can spot and trace all the bitcoin transactions these criminals have ever done.

4 – Blockchain Technology Is Not Limited To Cryptocurrencies

Many different startups have started to experiment with implementing blockchain technology in various industries. Once such example is Ethereum with their smart contracts technology which basically runs on blockchain. Since the blockchain is decentralized, two parties can make transactions between themselves without needing the services of a middleman. This not only saves you money, but it also saves you a lot of time and conflict.


5 – Blockchain Can Still Be Improved

While this technology has definitely improved the lives of many people, it can still be improved. For one, as time passes by, the blockchain will grow to be several hundred gigabytes of data. This will cause a lot of bandwidth and storage problems on personal computers. Let’s hope the brightest minds in the crypto space can find a solution to this predicament soon.

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