In a Rush? Buy BTC HERE and earn $25 after depositing $100 !
You might have heard about bitcoin or cryptocurrency, the stories of people making ridiculous amounts of money by investing in it, countries adopting it as legal tender, and mentioned as one of the best ways to fight inflation. However, you've also probably heard that Bitcoin is incredibly volatile and risky meaning that it fluctuates in price quite regularly. This probably scares you away from understanding when it's the right time to buy Bitcoin.
In this guide, I will try to explain in simple terms why and how to buy Bitcoin in case you've been thinking about it!
First of all, WHY is it good to buy bitcoin in the first place?
Bitcoin is a digital asset that is compared to Digital Gold, why? Because there will ALWAYS ONLY BE 21 MILLION BITCOIN. Never more, possibly less ( because the bitcoin that gets lost will never be replaced). Why invest in the first place?
Well, it is a great way of hedging against FIAT (USD, EUR, GPB etc...) especially in times of inflation as we currently experiencing. FIAT is constantly losing value which is the reason why cryptocurrency was invented in the first place, to create a BETTER financial system that protects the capital and wealth of its users.
So WHY is NOW a great time to buy bitcoin?
Assets like Bitcoin go through different cycles - A Bull Market, where the trend of the asset is generally in an uptrend ( gaining value) and a Bear Market, where the trend of the asset is generally in a downtrend ( losing value).
Currently, Bitcoin is in a Bear Market and has actually been so since 2021. History has shown that these periods are usually the best times to buy Bitcoin as it will eventually rise to higher prices to guarantee the best return on your investment.
The chart below can give you a better understanding of how this has played out for Bitcoin in the past.
The Green circle indicated the best buying opportunities for Bitcoin whereas the Red circles indicate the best selling opportunities. As you can see this dates back to 2011 and has ALWAYS proven to be correct ( as an estimate of course)
This is not to say that Bitcoin cannot go lower than it currently is - $27k but it has definitely entered the BUY Range that is guaranteed to give you a solid return IN THE LONG RUN. Please, do not expect to invest in Bitcoin and become rich in the following weeks. It takes quite a lot of time for Bitcoin to reach its peak. However, when it does, you would thank yourself for having bought yourself some bitcoin.
Where to buy Bitcoin
There are multiple ways that allow you to buy BTC with ease.
- Nexo - Register here and earn 25$ in BTC for free after depositing $100! I love to use NEXO as it gives you an interest rate of up to 12% on your crypto simply for keeping your crypto on Nexo. So even in times like this when the market is in a downtrend you are earning a bit more ! Nexo also has other advantages such as the ability to get a NEXO Visa card that will allow you to use your crypto as collateral and get a credit line!
- KuCoin - My favourite Exchange. Although it may look complicated if you are a beginner, KuCoin offers a HUGE majority of tokens and features as it is a top 3 exchange worldwide. Check them out HERE
- Revolut - If you like to keep things simple without getting too involved with downloading other apps or you prefer to use a company that you've probably already heard of then you can Register here and earn up to 50$ on Revolut! You can easily buy Bitcoin on there, HOWEVER, I would personally go for Nexo instead as Revolut do NOT allow you the option to move your Bitcoin elsewhere right now, Nexo does. But If this doesn't bother you and you just want to have some Bitcoin to keep for the long term then this option could work for you !
Frequently Asked Questions
- Do I need to have $27,000 to buy bitcoin?
Not at all, many people are under the impression that you can only buy 1 bitcoin. Bitcoin sells at fractions and you can buy as many dollars' worth of bitcoin as you'd like! For example, If i buy $100 in Bitcoin when it is trading at $27,000 I would get around 0.004 BTC.
- When can I expect to see a profit?
Bitcoin cycles tend to last 3-4 Years. However, you might see a return on your investment MUCH earlier than that. It is always good to have a long-term mindset when investing, especially in Bitcoin. Even though it fluctuates in price, Bitcoin will always trend higher with time due to its limited supply!
- Is Bitcoin really used by people?
Yes. Bitcoin can be sent around the world with ease. It has been incredibly useful in the current ongoing war in Ukraine and is also starting to become legal tender in some countries. I suggest that you watch the following video to understand what bitcoin really is!
