We all know the importance of Bitcoin, with no central bank regulating and deciding the amount of money to be printed one can get them limitless. Yes, there can be adverse effects also but if the quantum of this currency could be limited then those adverse effects can be minimized and become more valuable than other currencies like Euro and Dollar.
Let’s read this story of James and John who were two friends and one fine day decided to invest in Bitcoin, what happened next let’s see!
James and John both thought that they are too late to invest in Bitcoin because it was already the year 2022 and whether it will be good to take risk of Bitcoin investment as who knows “Will Bitcoin still exist in 2030 or more”.
Now, both friends went to Jenny, one of their advisors to ask whether they should put money in Bitcoins and if yes then how they were naive in this field. So, let’s see what ways Jenny told them to invest in and what was his point on their main question” will Bitcoin still exist in 2030 or more”.
Firstly, she advised that they can trade and invest in the crypto trade/exchange/swap market. This can be done even without possessing any cryptocurrency on your own, this will be like investing in physical assets like gold in the stock exchange market.
Secondly, they can use their crypto coin which they already have to lend and stake coins to different users or systems.
Thirdly, they can also partake in the system or blockchain technology by receiving rewards in the form of crypto coins for working in the network or mining directly.
Jenny further explains to them that based on this above mechanism, they can invest their money in cryptocurrency with the six strategies given as follows:
- Crypto Social Media
- Staking and Lending
- Forks and Airpods
Till now we all know that John and James both were novices and there was a high chance that they could be trapped in the crypto market and incur high losses themselves. Knowing this fact Jenny shared a few magical tips with them on how to be a careful investor, these tips are as follows:
1. Don’t Invest All Your Hard-earned Money
Crypto can make you greedy with its profits but it is not the same all the time. Having a little profit you might think to put much of your money into it and get a high profit but this can be your biggest mistake if you lose. Therefore she told them to invest a little money first and learn algorithms and further invest the profit and not new money!
2. Secure Your Account
Crypto being a high technology thing can also be hacked and even today many of its users face profiles daily. Follow seed backup which is a set of words to secure your wallet and have access to it.
3. Hype Can Incur Loss
Filtering the noise out and shunning the hype is very important when investing in crypto similar to other conventional investments. Making decisions based on hype is very risky and not at all-wise.
The value of the currency may suddenly crash and can lead you to great losses. Yes, earning money by investing in Bitcoin seems easy but it isn’t, your simple mistake can lead you to great financial troubles. Being patient and having the correct knowledge to make worthy profits.
So, Jenny’s advice makes them realize that it is never too late to invest in Bitcoin unless you invest it carefully. There are going to be innovations in this technology that can’t be imagined right in this place and time and these innovations will most probably create new and many ways to earn money from cryptocurrencies.
James and John both started investing in bitcoin after knowing all such strategies with being very careful but still were a little confused about whether “will Bitcoin still exist in 2030 “, are you also worrying about the same and want to know the answer? So, there is not any clear-cut answer to this straightforward question because different people have different opinions in the market but don’t worry we’ll try to understand the trend with the help of a little data. Let’s see what can be comprehended with the below-given data:
According to some Bitcoin predictions, there can be an increase of over 65,140 USD in the median value during the initial half-year and enter 90,200 USD till the year ends. The average value of the coin may continue to be 340,400 in the year 2025 accordingly, say the specialists. Along with all this, the Bitcoin value may attain a value of 734,350 USD which is quite high in the year 2030.
Now, with the above stat, anyone can predict that yes there are many chances that Bitcoin will exist till 2030 and more because people are interesting and still investing facts being the same. But nobody knows what happens next because after all, these are only stats and nothing can be completely predicted just based on stats.
Moreover, it should also be noted here that after the crash it is very hard for Bitcoin to rise again but some people still have faith and interest in the currency and investing even after this. Yes, this is a huge crash but cannot be completely said as the worst global crash that crypto has confronted till today!
This up and down in the value of Bitcoin will keep on continuing, the only thing you can do is be careful as Jenny told John and James to be while investing in any cryptocurrency.
This was James and John who invested in Bitcoin but in real life also there are many examples. Erick Fineman 2011 borrowed 1000 USD to invest in Bitcoin when each one was worth 12 USD from his granny. He was just 11 years old at that time and invested money in Bitcoin with his brother’s help till the year 2013, his destiny turned when each Bitcoin value reached $1200 from $12.
So, go and invest your money, take risks, and don’t forget that no currency disappears suddenly overnight, there will always be signs before it that you will need to catch and understand! Yes, don’t forget to use right tools to help you in the process of money making through investing.