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Why Bitcoin is not a good investment?

By Mabla | nick07 | 20 Jun 2020


Bitcoin is a decentralized crypto currency launched in 2009 by Satoshi and was valued at $0.02. When it was launched it was a good and lucrative investment but a lot of people did not realize its importance and how rich it can make them. It maybe because people did not trust the crypto currencies since this was the first crypto currency to be introduced.

There are a few brave ones who never wasted time and invested into bitcoin. When the opportunity knocked on their doors they grabbed it and some few years later they enjoyed the profits of their investment as the price had surpassed $10,000 per coin.

What made Bitcoin stronger?

Later on people realized the power of bitcoin, they enjoyed the fact that it was decentralized and there was freedom of use without any restrictions, and it was just amazing. So as time went on people started adopting crypto currencies and this led to the increase of its capitalization and it price started rising. Online merchant were now accepting it as a method of payment and it made it even stronger.

Will it keep on getting stronger?

Currently it is the strongest crypto currency with a huge market capitalization of more than $170 billion and with daily turnovers of more than $17 billion. It earned itself to the top position and with the size of its capitalization it’s likely to remain there but that doesn’t make it a good investment.

Its recognition and adoption led it to being used as a payment method by online merchants and that’s were its strength is but there are other good crypto currencies with better features and helpful uses. Ethereum has proved to be more useful than bitcoin as it is now into smart contracts, Dapps, new crypto tokens now use its blockchain on top of being a payment method.

Besides it uses its price is higher and if you invest in it you will not make riches. With one bitcoin costing more than $9000 you won’t be able to buy more bitcoin because its expensive but let’s say you buy Loopring (LRC) at $0.09 and you invest $500 then buy 5.555 coins and then if the price hits let’s say $5 then the $500 investment will get you more than $27000, that’s the best investment.

What else to check on when investing in coins?

  • Supply
  • Price history
  • Capitalization
  • Other services offered apart from being a payment method.

Conclusion

Bitcoin is a good crypto currency and will always the best but at this stage it’s no longer a profitable investment as compared to other new coins on the market with brighter future. You can invest it if you want but it won’t make you much money as compared to others out there. If you would like check my next article, I will write about other crypto currencies with possibilities of making you rich.

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Mabla
Mabla

I most the definite


nick07
nick07

The Path-Finder

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