The Three Point Checklist Before Getting into Bitcoin

In the recent months, Bitcoin has turned into a popular commodity. In late 2017, the worth of a single bitcoin surpassed USD 10000, fourteen days after USD 20 000. In the event that you had purchased bitcoin per year ago it might have cost you 21 times less than today.
The great development of the flagship digital money is a result of a number of things. The most powerful one is the shifting perception of bitcoin; A money considered a couple of years ago a child ‘s toy is presently a normal investment prospect. The expanding demand pushes the cost of bitcoin up. Individuals who a year ago didn’t even know that such a currency existed are now keen to get it. Just, for example, in December 2017, about 180000 Czech citizens searched bitcoin on Google and for this small country, it’s a lot.
Crypto Mining does no longer pay off
To become the owner of bitcoin you can use several ways, to get it described in our previous articles. The main process of creating bitcoins is mining. Today, bitcoin mining is a business for large corporations and organisations with thousands of miners. The mining of blockchains is increasingly demanding for computing capacities requiring hundreds thousand to millions spent on hardware and power. There are some countries in the world where bitcoin mining is a loss-making business even with suitable equipment.
More info about this topic, you can find in this article — Cryptocurrency mining.
Side by side with powerful players
The question whether investing in bitcoin pays off is being answered by large multinationals through their actions. Tesla, the world’s leading maker of electronic cars, is pumping gallons of dollars in bitcoin. After closing down the Silk Road (a network used for illicit trafficking of drugs and other commodities), FBI has become one of the biggest bitcoin holders with 144000 bitcoins.
In December 2017, the bitcoin rush escalated after bitcoin’s entering a “actual ” stock exchange. Despite of some voices warning that this bubble may burst as quickly as it emerged, the vast majority of investors hopes that the boom will continue. So far, there are no indications for bitcoin’s soon collapse.
Main method how to get bitcoin: Buying
Trust, but test: Sale of bitcoins is offered by hundreds of entities, of which only a minority is trustworthy. The huge demand for digital currencies as we can see lures various shady characters and crooks parasiting from the gold rush.
Be cautious when considering your future trading partner. Read the security protocols at the websites and servers as well as reviews written by well-known investors. Conduct a thorough investigation. The validity of “Time is money” applies today more than ever before.
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