Should I Buy Bitcoin? 10 Reasons Why Bitcoin is a Good Investment in 2023

I’ve been where you are.

I heard of Bitcoin a long time ago. And for years, I’ve asked myself: should I buy Bitcoin? Is Bitcoin a good investment? And what are the reasons to buy Bitcoin now?

I couldn’t just hear about it and pull the trigger. No, I kept debating, questioning, putting it off. Perhaps you’re in the same boat. 

You’ve heard of Bitcoin for a while now, and the profits early investors made -- but you still can’t make the decision.

After all, since Bitcoin was created in 2009, the price has kept going up, from $0.01 to $20,000 per coin. Through all the ups and downs, if you or I held 1 BTC, the average growth over 9 years would have been 28% per month.

So, is Bitcoin worth buying in 2023? Is it safe? Why you should buy Bitcoin right now, or wait? And how much Bitcoin should you buy?

As a full-fledged Cryptomaniak with years of experience in the space -- I’d like to share my answers with you.

And for the most skeptical of you, I’ll even share some reasons why NOT to buy Bitcoin. I’m sure that will get you thinking.

Let’s dive in!

What is Bitcoin? A Short Intro

Simply put, Bitcoin is digital proof.

For the first time since the birth of the internet, we can prove that we own something digital without anyone’s help.

Source: The Guardian YouTube Channel
 

Before Bitcoin -- and blockchain

technology upon which it is built -- the only way you could prove you owned digital money was by trusting a third party: a bank, a credit card company, etc.

With Bitcoin, you don’t need anyone to prove you own it. It’s yours. It’s decentralized

.

Why Should I buy Bitcoin? 10 Reasons Why You Should buy Bitcoin

So, is Bitcoin a good investment? I get that question from friends and family alike. It needs a little patience to develop and understand -- especially because you want to make an informed decision, don’t you?

#1 Bitcoin’s rules are permanent

This is number 1 with a bullet. Although new coins are mined

and added to the circulating supply

Circulating Supply

The volume of coins being held and spent at a given time for a given cryptocurrency.

View full glossary

regularly, Bitcoin will never cross over its 21 million coin supply cap.

That is a permanent rule that is also public. Everyone can check that rule, and no one can change it.

This rule is in contrast to all world governments -- who print more money every day. The U.S. does it, and they call it Quantitative Easing -- which is fancy speak for ‘we’re printing more money because it’s somehow good for you.’ But with Bitcoin -- No company can make more.
So, is it safe to buy Bitcoin in regards to transparency? If you like your investments not to be manipulated by governments, banks, or companies, and if you like verifying it by yourself (through a public ledger) -- then yes, you should buy Bitcoin.

On a separate note, here are my top recommendations to buy Bitcoin in 2023: 

 
#2 Bitcoin is and will be scarce

One of the main reasons Bitcoin has risen in value so dramatically is its scarcity.

There will only ever be 21 million Bitcoins. That is fact, and it cannot be changed.

If all the Bitcoin supply in existence were to be distributed evenly across the people of the earth, then there would only be 0.0023 BTC for each person.

If you own more than 0.0023, you will own more than most people will be able to own and that should be one more good reason to buy Bitcoin. So perhaps your minimum Bitcoin investment should be at least 0.0024 BTC? As of today, that would only be $22.

Gold is also scarce. But, funny enough, we don’t know what its final supply will be. If another San Francisco Gold Rush happened -- and a huge deposit was discovered somewhere -- then the supply of gold would increase quickly, and its value would go down.

Moreover, gold has a $6 Trillion market cap. If Bitcoin becomes a form of digital gold or a new asset class -- if it reaches the same total valuation as gold ($6 Trillion) -- that would put the Bitcoin price at approximately $340,000 per coin.

If that happens, then is Bitcoin worth buying right now? Of course! Perhaps that sounds too good to be true -- but remember that Bitcoin used to be worth $1.

So could Bitcoin increase from where it is today to $340,000? It’s in the realm of possibilities. And the answer to your question “should I buy Bitcoin?” becomes quite simple.

#3 Bitcoin is transparent

Bitcoin is more transparent than the Federal Reserve.

The Federal Reserve Chairman Janet Yellen decried Bitcoin at a Canadian finance conference. She went through the typical anti-Bitcoin points that “Bitcoin is a bad store of value,” “Bitcoin is slow,” and “Bitcoin is not accepted anywhere.”

But Bitcoin has two things that no other currency in the world has, not even the U.S. Dollar: Decentralization

and Transparency.

Why buy Bitcoin, if not for those two reasons alone?

Bitcoin’s transparency is in direct conflict with the Federal Reserve. Not only do we have no transparency into past transactions in the fiat

currency system -- i.e., where our taxpayer dollars go -- but we don’t even know how much money is being printed.

The Federal Reserve prints money every day, inflating the economy. We have no insight into future monetary policy, and we don’t have a way to audit the Federal Reserve.

How do we know the Federal Reserve is printing and using the money for what they say they are doing? We don’t. But if the government used Bitcoin -- we would know.

So, is it smart to invest in Bitcoin? If you like your assets not to be manipulated by governments, banks, or companies, and if you like verifying it by yourself (through a public ledger) -- then yes, you should buy Bitcoin.

#4 Bitcoin is uncensorable

America is supposed to be the land of free speech. It’s in the Bill of Rights. But many countries, such as China, don’t offer such protection.

If you’ve heard of capital controls -- they are a way of censoring people through finances. The worst countries are Brazil, Russia, Taiwan, and of course, China.

In China, for instance: “Buying gold and foreign currency is very limited for both consumers and enterprises. Using the gambling hub of Macau to bypass these controls is no longer a viable option either [...] Cross-border money movements are being monitored closely as well, ensuring no one has an easy time getting money out of the country.”

But Bitcoin cannot be censored. Decentralization guarantees that.

Even when China banned cryptocurrency exchanges and mining farms in 2017 -- the network remained very much alive.

So I ask, is Bitcoin worth buying? If you live in China or other countries with such strict capital controls -- absolutely. And even if you don’t -- why not hold a store of value that no one can take away from you so that is a good reason to invest in Bitcoin.

#5 Transfering BTC incurs low fees

International payments can be time-consuming and surprisingly expensive. Fees can range from 3.5% to above 10% -- and take days to process.

Bitcoin has fees too. And to be fair, the fees can go quite high as the value of Bitcoin rises or the Bitcoin blockchain experiences heavy use.

Nevertheless, Bitcoin often offers lower fees than many foreign transfer institutions.

Take a look at these examples from the world’s leading banks:

Bank of America = $35
Chase = $40
HSBC Bank = $35
Wells Fargo = $45

On the other hand, Bitcoin transaction fee was $3.4 on May 22, 2019. Plus, some cryptocurrencies offer much lower transfer fees:

Monero = $2.587
Dash = $0.363
Ethereum = $0.347
Litecoin = $0.198
Bitcoin Cash = $0.097
EOS = $0.0105
Ripple = $0.0037
TRON = $0.0000901

So, is Bitcoin a good investment? If you believe banks offer slow and outdated money transfer services -- like I do --, then Bitcoin is a good investment. Bitcoin is also worth buying for those of us who need to make international transfers and don’t want to pay outrageous fees or wait a long time so that's why you should buy Bitcoin.

#6 Bitcoin regulation is developing positively.

Back in 2010, regulation on Bitcoin was nonexistent. Then came countries banning Bitcoin and cryptocurrencies.

These days only a few countries outright ban Bitcoin, including Egypt: "Egypt’s Dar al-Ifta, the primary Islamic legislator in Egypt, has issued a religious decree classifying commercial transactions in Bitcoin as haram (prohibited under Islamic law).”

Overall, however, countries are adopting Bitcoin as a way for people to transact and store value. The SEC, for instance, published a framework for digital asset classification. Improvements like these help legally define Bitcoin and cryptocurrencies -- which in turn helps mass adoption.

* eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Now, we don’t have mass adoption yet. But with regulation being clarified rapidly -- we could undoubtedly have mass adoption soon.

#7 Bitcoin Offers Potential Profits

After its creation in 2009, the Bitcoin price has been on a parabolic uptrend.

Yes, there have been dips, peaks, and valleys, but zooming out we see a clear uptrend. That has pushed its price from less than $0.01 to where it is today.

A $50 investment in 2009 would have netted you $100 Million at Bitcoin’s peak in 2017.

Even people who bought at the ‘peak’ of $200 in 2011 and the ‘peak’ of $1400 in 2013 would still be well in profit if they didn’t panic sell -- but held onto their BTC.

After all, if you own a home and housing prices go down, you don’t panic sell your home. You know that in 10-20 years the price is bound to have gone up. It’s the same with Bitcoin.

So, should you invest in Bitcoin? If you intend to hold it for as long as a home, then yes, why not?

#8 Bitcoin inspires philosophical choices

For some investors, the question “should I buy Bitcoin?” is less about the price action and more about the ethos behind Bitcoin. For these people, Bitcoin is a movement.

The fundamentals of Bitcoin mean so much more:  

• Transparency means less government “big brother” control and oversight.    
• Decentralization

  Decentralized

  Distributed amongst its users rather than controlled by one group or within one certain area.

  View full glossary
  means big banks and governments can’t censor or confiscate your money   
• Immutability

  Immutable Ledger

  The term used to refer to blockchains to describe the way in which blocks cannot be changed after they are recorded.

  View full glossary
  means no “fudging the books” or shady business since transactions can’t be changed.

The early adopters of Bitcoin were not drug dealers or money launderers. They were visionaries and philosophers. They wanted financial liberty.

Satoshi Nakamoto

himself, the inventor of Bitcoin, created it for a philosophical cause. He signed the genesis block

Genesis Block

The first block mined on a blockchain.

View full glossary

-- the first block in the Bitcoin blockchain. Inside the data, he put the headline: “Chancellor on brink of second bailout for banks.”

The headline which Satoshi used referenced an article published on January 3rd, 2009 in the Times about the financial crisis which was gripping the world:

“Alistair Darling has been forced to consider a second bailout for banks as the lending drought worsens. The Chancellor will decide within weeks whether to pump billions more into the economy.”

As many now know -- the financial crisis was caused by big banks playing fast and loose with people’s money. And now governments around the world wanted to help those big banks, bail them out -- using taxpayer dollars!

Source: thetimes.co.uk
 

What did governments use? Your money. My money. Our hard earned money was used to give “golden parachutes” --- exit bonuses worth tens of millions of dollars -- to the top fat cats who screwed it up!

That’s why Bitcoin is a good investment: because with its transparent and decentralized blockchain, it gives us financial liberty.

This financial liberty also comes with financial gain. Since Bitcoin’s meteoric rise in price, many early investors made considerable wealth and decided to share the love by setting up charities and funds.

The best known is the Pineapple Fund. The main donation remains anonymous, with the simple sentence “I’ve donated $55 million of Bitcoin to charities because once you have enough money, money doesn't matter.”

The Pineapple Fund was an experiment in philanthropy with cryptocurrency wealth. “What happens when your 'play-money' becomes a treasure chest, and you're past the satiety point of money?”

He or she decided to donate the majority of their cryptocurrency to charities around the world, with an open application process, funding charities of all sizes.

So what is Bitcoin, if not a great philosophical belief? A belief towards financial liberty -- and a little good-hearted charity.

#9 Bitcoin is an excellent alternative to gold

Everyone loves gold jewelry, but is gold the best investment you can make in today’s digital world?

President Nixon dropped the gold standard in the 1970s -- making the U.S. Dollar float. Granted, it held strong, but that doesn’t mean gold will.

We’re living in a digital world. Bitcoin represents a new financial era -- digital scarcity.

A gold bar weighs around 25.7 pounds, but Bitcoin is weightless and can be bought, sold, and transferred as easily as a swipe or two of your fingers.

Since we spend so much time in our digital world -- shouldn’t we demand a form of digital gold? We need something electronic, fraud-resistant, portable, and accessible to everyone.

And guess what -- Bitcoin solves these digital problems, and still retains good “money” qualities that gold doesn’t and that's why you should buy Bitcoin.  

• BTC = easily portable  
• BTC = not confiscatable    
• BTC = more accepted at restaurants, hotels, etc. than a gold brick    
• BTC = Capable of international transfer

These are more reasons why Bitcoin is a good investment. Lots of people and companies see Bitcoin as the new gold, digital gold. Maybe this is our generation’s ‘San-Francisco Gold Rush’?

#10 Bitcoin is a new asset class - Great for diversification.

If Bitcoin is truly positioned to disrupt gold -- perhaps even to replace it as a store of value, it is also a new asset class.

This is what Chris Burniske, blockchain analyst at ARK Investment Management and co-author of the paper, “Bitcoin: Ringing the Bell for a New Asset Class” says:

“If an investor who holds bonds and equities swapped a percentage of their prior holdings into Bitcoin, because of Bitcoin’s low correlation and superior absolute performance, they could have decreased the volatility of the portfolio while simultaneously increasing absolute returns.”

Diversification is another reason why you should invest in Bitcoin and cryptocurrencies.

4 Reasons Why NOT to Buy Bitcoin

Although I believe Bitcoin is a good investment, it’s not all white, and there are a few reasons why not to buy Bitcoin.

Bitcoin has been around for a decade now. Many reasons to not buy it have slowly been solved. A few remain though -- let’s examine them.

#1: Bitcoin could undergo technological obsolescence

The most troubling problem on the horizon for Bitcoin may not be hackers, government shutdowns, or similar problems -- it could instead be that Bitcoin becomes obsolete.

I’m sure you’ve heard of Quantum Computing. It’s certainly on the lips of every major action movie star. Slowly but surely, quantum computing is moving from the fictional Hollywood sci-fi universe into reality.

Source: medium.com/quantum1net
 

A recent MIT Technology Review reported: “The massive calculating power of quantum computers will be able to break Bitcoin security within 10 years”

Who are these security experts? And why did they say this?

Divesh Aggarwal at the National University of Singapore and his security colleagues have been developing quantum computing for a while now.

They say “the only way to cheat [the Bitcoin blockchain] is to calculate the private key

using the public key

Public Key

An address that individuals share with others to receive cryptocurrency.

View full glossary

, which is extremely hard with conventional computers. But with a quantum computer, it is easy [...] Bitcoin is much more at risk, and could be completely broken by a quantum computer as early as 2027. ”

So, is Bitcoin a bad investment? Right now no -- because quantum computing is still extremely early in development. But in ten years? Maybe. Or maybe not.

Bitcoin and its blockchain are a technology -- and technologies are dynamic. Adapting and improving technology is the reason we don’t need to unplug our phone line just to plug in a modem anymore.

Bitcoin’s blockchain can adapt and improve its public and private keys to become even more secure and quantum-proof.

#2 Bitcoin may not be the best option to transfer value

Users of cryptocurrency exchanges like Coinbase can be charged high transaction fees on rare occasions when transferring Bitcoin to an external address.

Some people may not use BTC if it incurs such fees regularly -- especially if they want to pay for small things like a cup of coffee.

Source: bitinfocharts.com
 

Yet perhaps we’re looking at this the wrong way. Perhaps Bitcoin’s high transfer fees are a good thing.

After all, gold is difficult and costly to move too (due to security and weight) -- and this encourages people to hold it.

The same could happen with BTC. High fees could prompt people to hold it and use it only as a store of value -- much like gold.

#3 Bitcoin is still somewhat early in development

Bitcoin has been around and being improved upon for 10 years -- but in the grand scheme of things, that’s not long at all. The stock market is over 300 years old. Bonds are even older. And gold, of course, is the oldest.

The ecosystem around Bitcoin is at the heart of the matter. Storing your Bitcoin is still somewhat risky. People forget their private keys

and lose their cryptocurrencies forever. Exchanges get hacked and lose millions.

With time, these steps will be shorter and Bitcoin will be more secure.

Bitcoin wallets will be integrated into your phone and numerous applications, allowing you to send Bitcoin to another wallet like you send a message to your friends on Whatsapp.

#4 A coordinated government crackdown would affect BTC

Bitcoin price decreased by 2% after China's state planner added Bitcoin mining to a draft list of activities it wants to ban, according to Reuters.

The decision was made by the Chinese government who continues to crack down on cryptocurrency trading platforms, cryptocurrency mining

, and new cryptocurrencies based in China and abroad.

A coordinated crackdown on BTC by major world governments would certainly make the price fall.

But keep in mind that Bitcoin is decentralized

. The Bitcoin blockchain would remain unharmed.

Even though the news would generate fear for many users and investors -- hitting the price and people’s beliefs -- it would not kill the Bitcoin blockchain, and users will still be able to store and transfer Bitcoin without a problem.

The only way to kill Bitcoin would be if every government on earth confiscated everyone’s computer -- and shut off everyone’s electricity in case they hid a computer. Obviously, this will never happen.

Source: imgflip.com
 

In any case, a coordinated crackdown is unlikely to happen. Instead, most governments create laws and taxes around Bitcoin. That way, they can also make money from it so that's another reason to buy Bitcoin.

#5 Bitcoin is still very volatile

Volatility. Depending on where you are and what you do in the crypto space, volatility may mean a lot of joy or heartbreak.

Some people find the volatility as vital to growth. After all, volatility makes headlines and sparks interest in cryptocurrencies.

Others, however, see it as the reason that cryptocurrencies will fail. They argue that Bitcoin needs to be stable to become a functional and viable digital currency.

But does Bitcoin need to be a digital currency? It could simply be a store of value. After all, gold is also quite volatile. One ounce sold for $370 in 2001 -- it then rose to $2,000 by 2010 -- and now it sits at $1,300. From a store-of-value perspective, Bitcoin is a good investment too.

My Opinion and Story

I traveled around the world for 1 year -- on 1 Bitcoin. It’s this experience that inspired me to become a Cryptomaniak.

Before my journey, I was brand new to Bitcoin and cryptocurrencies. I bought my first Bitcoin -- the one I would use -- just 3 months before launching on my grand expedition.

I had questions. I had doubts. I feared Bitcoin’s volatility, government crackdowns, and being hacked.

But as I traveled, my fears abated. The people I met along my journey were some of the best people I’ve ever met.

These Bitcoin and cryptocurrency enthusiasts opened my mind and heart to financial freedom, human rights, and grabbing life by the horns.

I wrote a book about it: Stolen Wallets and Where to Buy them.

Would I do it all again? Looking back … I just might.

Where Should I Buy Bitcoin?

Each of us at CryptoManiaks has been in the crypto sphere for a good long while.

We experienced countless issues when trying to get Bitcoin. Issues with liquidity, security, and customer service.

As we’ve made mistakes, we’ve also learned and improved our cryptocurrency investment strategy.

Since this info will benefit everyone, we compiled a shortlist of the best Bitcoin investment sites.

For more information about these cryptocurrency exchanges, check out our full article: The 5 Best Ways to Buy Bitcoin. 

Is Now the Best Time to Buy Bitcoin?

When should I buy Bitcoin? Should I invest in Bitcoin today, or tomorrow?

These are the questions that kept me from buying for a long time. I kept waiting for the price to either go up -- a sign that it would keep going up -- or go down -- so I could buy the bottom.

I never timed my buy “correctly.” So instead, I employed a few strategies.

Here are a few highlights. The best time to buy Bitcoin is:

1.  When the adoption is low. The lowest was, of course, in 2010. But, if you think about it, the adoption is still low.
2.  When the price is low. The word ‘low’ is relative, of course. In 2013 Bitcoin’s all-time high was $1,400. But in 2019, Bitcoin’s lowest price was $3,300. So it’s all relative. My point is: don’t buy when the price has been rising every single day for a month. Instead, buy when the       price has been low for a long time. The price should also influence how much you should invest in Bitcoin.
3.  Before major updates and improvements. Bitcoin will have amazing new technologies built on top of it, including lightning network

   Lightning Network

   A network layer that functions on top of the Bitcoin blockchain and allows for a huge number of low-fee microtransactions.

   View full glossary
   and atomic swaps

   Atomic Swap

   The exchange of one coin or token for another coin or token that takes place without the need for a third party. Atomic Swaps rely on smart contracts to ensure both parties hold up their end of the agreement.

   View full glossary
   . These will improve BTC, make the news, and inspire more people to buy.    
4.  Before each Bitcoin “halving.” The halving is when BTC miners get paid half as much Bitcoin as before. This happens like clockwork -- once every 4 years. Because supply is trimmed down -- and demand stays the same or increases -- the price is bound to go up!

And of course the most crucial part: buy Bitcoin when you feel comfortable spending that money. So is Bitcoin a good investment? Don’t invest more than you can afford to lose -- because then you become prone to making bad decisions!

Is it Safe to Buy Bitcoin?

I won’t lie, plenty of scams and hackers still exist in the cryptocurrency space. Buying Bitcoin and keeping it secure requires a little bit of effort.

If you own gold, you can stuff it in a safe and, if you forget the key, you can hire someone to break into it. But with BTC, if you lose your private key

, you lose the BTC forever. Steps need to be taken to prevent loss.

The basics can be summed up in four points:

1.     Buy only from reputable exchanges

   Exchange

   Online platforms on which individuals can buy and sell cryptocurrencies.

   View full glossary
   with a good reputation (check our list here).
2.     Enable 2-Factor authentication (2FA

   2FA

   Two Factor Authentication. A protective measure that uses one-time passwords to prevent keyloggers from gaining unauthorized access to accounts.

   View full glossary
   ) and use strong passwords.
3.     Avoid keeping your crypto assets on an exchange.
4.     If you keep your BTC offline -- get and use one of the best hardware wallets available.

Who is Buying Bitcoin?

Since Bitcoin is an industry with hype surrounding it, it's no surprise that many celebrities chose to invest.

Some famous people who own Bitcoin are billionaire investors -- others are celebrities, athletes or actors. Several famous musicians have even begun to offer their music in exchange for Bitcoin or other cryptocurrencies.

Gwyneth Paltrow joined Abra, a company used to help buy and sell BTC, as an advisor during an episode of Planet of the Apps. In 2016, Mike Tyson launched a Bitcoin wallet during his partnership with Bitcoin Direct.

Other celebrities who bought Bitcoin and cryptocurrencies include Paris Hilton, Snoop Dogg, Ashton Kutcher, and Jamie Foxx, as well as many other stars.

That can show us one more reason to invest in Bitcoin and follow the trend from famous people.

But you don’t need to be a rockstar to own BTC.

A recent survey shed some fascinating light on the demographics of those who are buying Bitcoin.

The survey said that those between the ages of 25 and 34 were the most likely to invest in Bitcoin as an investment for the future, or to be open to using Bitcoin for purchases.

The survey also pointed out that, while most owners of BTC are male, a recent shift has begun as more women own cryptocurrencies.

How Much Bitcoin Should I buy?

When I invested in Bitcoin for the first time, I put only tiny amounts of my paycheck in to dip my toes in the water.

As I grew comfortable buying, selling, and storing my BTC, I invested more. So the answer to “how much Bitcoin should I buy” … depends on where you are in your journey, along with many other factors.

Since each person’s situation is incredibly different, satiate your curiosity by checking out our full guide on how much to invest in Bitcoin, based on all the lessons we learned along our investor’s journeys.

How much money do you need to buy Bitcoin?

Since Bitcoin is divisible up to 0.00000001, your minimum Bitcoin investment can be as small as an exchange

is willing to accept. Coinbase, for instance, will accept as little as $2.

We also recommend this guide here from Invezz which gives you a great overview and comparison of the different platforms when buying Bitcoin.

Should I Buy Bitcoin or Ethereum?

Bitcoin and Ethereum serve different purposes and act in different ways during ups and downs.

Bitcoin is used as a store of value and cryptocurrency. Ethereum is used to power smart contracts

and decentralized apps (dApps

dApps

Distributed Apps. Applications without centralized control.

View full glossary

).

Bitcoin is used as a way to store and transfer value. Ethereum is used to build apps that allow such BTC payments to take place. Bitcoin may be the new digital gold. Ethereum may be a new world computer.

Source: visualcapitalist.com
 

So, should you invest in Bitcoin or Ethereum?

Buying Ethereum is a great way to diversify. So, once you’re comfortable investing in Bitcoin, consider buying Ethereum as well.

If you want to invest in only one, be smart and invest in Bitcoin. They don’t call it the King of Crypto for nothing!

Should I Buy Cryptocurrencies apart from Bitcoin?

Good investors diversify.

Your 401k, IRA, and other retirement portfolios are all diversified. After all, you don’t just keep all your money in Apple stock. You diversify with excellent alternatives such as Facebook, Nike, and more. It’s just plain common sense.

By the same token, it’s good to diversify your crypto portfolio and look for potential gems.

The crypto space is very diverse. There are crypto assets like IOTA that focus on IOT

technology. Ethereum and Tron focus on smart contracts

Smart Contracts

Agreements between two parties that self-execute when their terms are met and automatically cancel when their terms are not met.

View full glossary

. Nexo focuses on cryptocurrency lending.

There are thousands of cryptocurrencies with innovative ideas like those I mentioned. A great place to find investment ideas is to look at Coinmarketcap.

So, Why Should I Buy Bitcoin?

I did. I’m buying more each paycheck -- a percentage of my paycheck that I feel comfortable with.

Remember -- there is only enough Bitcoin supply for each person to have 0.0023 BTC.

As Bitcoin gains global adoption, as people try to acquire more and more of it, the opportunity to own a whole Bitcoin might become a ‘once in a lifetime opportunity.’

Granted, investing in Bitcoin comes with risks -- such as forgetting your private key

or leaving your BTC on an exchange

Exchange

Online platforms on which individuals can buy and sell cryptocurrencies.

View full glossary

that gets hacked, or even a better Bitcoin coming along. But most of these risks can be guarded against.

Life can be risky. But take a chance, buy a little BTC, and see what all the fuss is about.

More Awesome Resources:    

• The 5 Best Sites To Earn Interest On Bitcoin   
• Can You Make Money From Bitcoin?    
• The 24 Best Places To Spend Bitcoin    
• The 10 Best Cryptocurrencies To Invest In Right No