How to Invest in Bitcoin
Learning how to invest in Bitcoin is becoming more popular. It has become the most valuable and popular cryptocurrency in the world. In today's market, the value of Bitcoin is increasing rapidly. As a result, many investors are investing in Bitcoin.
In this article, we'll look at how to invest in Bitcoin and guide you on how to begin investing in Bitcoin.
What is Bitcoin investment?
Bitcoin investment is as simple as investing your money in the stock market or elsewhere. Now the process may look a bit different but in principle, you’re investing in an asset. Not the same as a stock but again it’s still an asset. You can buy Bitcoin using euros, dollars, or any fiat currency, depending on the country you live in.
However, the liquidity is more in developed countries like the USA, Canada, UK, etc. Also, countries like the Philippines and Singapore are doing pretty well in Bitcoin investment. There are various factors that affect the country where you are investing so always be sure to see what rules affect your ability to invest depending on where you live.
How to invest in Bitcoin?
Let's take a look at four simple steps on how to invest in Bitcoin. The short and dirty of it all is this:
- Firstly, register in a Bitcoin exchange app or legit website to convert your money or other crypto asset to Bitcoin.
- After joining, you can create your Bitcoin wallet.
- The next step is linking your bank account with your Bitcoin wallet.
- Finally, you can order your Bitcoin in exchange for your money and start managing your Bitcoin investments. Note: you “can” buy fractions of the coin especially if you’re unable to buy a whole coin.
Bitcoin market and price
The Bitcoin market (or more accurately the crypto market) is a roller coaster ride. The price of this asset can fluctuate up and down depending on the value of its market and the activity of the investors. So, if you want to know how to invest in Bitcoin price, there is no definite answer. While this is a question that some people ask, it’s not really about investing in the Bitcoin price but the asset itself.
With that said, the Bitcoin price was not very high when it was first introduced. At it's introduction it was fractions of a penny. However, in the year 2017, its price skyrocketed, and by 2018 reached what some may thought was its peak, but we know today at the time of writing this article that it’s peak has only continued to grow and fall and it’s anyone’s guess what will be it’s ceiling.
Looking at the rise in Bitcoin price, many people started looking for ways on how to invest in Bitcoin 2019. Unfortunately, over the years, the Bitcoin price began fluctuating even more.
However, in recent times, many institutions and individuals are taking Bitcoins or cryptocurrency quite seriously. They are taking the risk and looking for ways on how to invest in Bitcoin crash or also known as the Bitcoin dips.
How much to invest in Bitcoin
As for any investment advice, that is personal preference. No investment advice will be given here, but always remember this. Invest with caution regardless of the asset and never invest more than you can afford to lose.
With that said, it is ultimately your choice. However, like any other investment, there is “always” some level of risk assumed. You can become a millionaire overnight and still lose it all within few seconds or overnight as the cyrpto market never closes as it is currently constituted at the time of writing this article. No one can predict what Bitcoin or any other crypto will do.
In addition, many people invest in Bitcoin using different amounts. Some invest everything they have to try their luck and that is extremely risk on an already risk asset class. On the contrary, others take on other investment strategies.. but it is still all personal preference and the decision on what to invest is 100% your decision to make.
How safe is it to invest in Bitcoin
It is essential for you to understand that investing in cryptocurrencies such as Bitcoin is indeed completely legal. While the cryptocurrency market itself is unregulated, the activity of investing in these assets is legal.
As for how safe it is to invest. What you need to understand is that crypto is very volatile. Bitcoin even though it is commonly referred to as the “father coin”.. e.g. the first coin. The coin that started it all, but does that mean it’s safe ?
It depends on who you ask. Some holders of Bitcoin would say that it’s the safest investment in crypto and there are others that don’t share the same position.
So there’s no definitive answer here. When you do your own research you will ultimately land in a place where you will either feel more confident about investing in it which will likely lead you to feeling more safe about it. However, on the other hand you may do your research on Bitcoin and find yourself feeling that it’s not safe and therefore will remove it’s consideration from your investment strategy.
There are opinions out there that say that Bitcoin is akin to digital gold. Again your research will form your opinion and that will help you develop your perspective on how safe you think it is.
Keep in mind that while Bitcoin can make an investor a lot of money, it can also do the exact opposite as fluctuations in crypto are wild in every direction.
How to invest Bitcoin in the Philippines
The Philippines and Singapore are becoming the hub of the Bitcoin industry. There are many ways to invest in Bitcoin in the Philippines. You can buy Bitcoins through peer-to-peer marketplaces, ATMs, and crypto exchange websites or apps.
Some steps on how to start investing in Bitcoin Philippines are as follows:
- First, create a free account on a licensed cryptocurrency exchange website or app.
- Sign up and link your bank account with the cryptocurrency website. You can easily do everything with your smartphone.
- Create a Bitcoin wallet by choosing the Bitcoin currency from the official website.
- Transfer your money to your cryptocurrency account.
- Buy Bitcoins from the website with the money in your account.
- Manage your investments.
How to invest in Bitcoin gold
While there are questions about how to invest in Bitcoin Gold, you would do so following the same parameters as you would with nearly any other crypto asset. Always understand with these assets that you won’t always find the same ones on every exchange.
Once you have found the exchange where BTG is located that will lead you down the next steps to getting ahold of the crypto. The most common place according to the markets where BTG can be found is going to be Binance.
You’ll need to set up your account there. Once you have your account established, you should be allowed to use fiat currency to get it or swap another coin to enable to you to acquire the asset.
This asset has experienced a lot of volatility over the years and that is something to keep in mind if this is a currency that you’d like to pursue.
Keep in mind the fluctuation that happens in the market. There are days where the volume is great and the value of your holdings are increasing and there are days where the volume is low and everyone is selling and the value of your holdings decrease greatly. This will happen for any Bitcoin asset that you hold in your wallet.
Information on this website is gathered through public and private sources. While this website believes the information to be reliable informationally, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and Investment Honey disclaims any liability for the accuracy and completeness of information contained in this website. Investment is done and participated in at personal risk and responsibility.
This website is distributed for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice.
The information, opinions and views contained herein have not been tailored to the investment objectives of any one individual and are current only as of the date hereof and may be subject to change at any time without prior notice.
Investment Honey does not have any obligation to provide revised opinions in the event of changed circumstances. Please note that all investment strategies and investments involve risk of loss. Nothing contained in this website should be construed as investment advice.
Any reference to an investment’s past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.
Any ideas or strategies discussed herein should not be undertaken by any individual without prior consultation with a financial professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal financial objectives, needs and risk tolerance. All individuals reviewing this information are highly advised to do their own research.
Investment Honey expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.
The information contained herein is not, and shall not constitute an offer to sell, a solicitation of an offer to buy or an offer to purchase any securities, cryptocurrencies, precious metals, stocks etc., nor should it be deemed to be an offer, or a solicitation of an offer, to purchase or sell any investment product or service.