It is obvious that the world is being digitized. More people around the world now have access to the Internet and all kinds of businesses go online to make money.
As the world becomes more reliable on the Internet, the need for a global, secure and digital currency does nothing. That’s what bitcoins and other cryptocurrencies offer. Bitcoin is open to anyone who is willing to invest in it.
However, unlike traditional investment options that are straightforward and well-understood, investing in bitcoin requires time and effort to understand how it works and get it right. Due to the lack of knowledge on the internet and conflicting information, investing in bitcoin is frightening for many people.
This article is about whether or not to invest in bitcoin in 2019 is very safe but not before. ”
Why invest in Bitcoin?
Only 21 million bitcoins are available worldwide; and while people follow mine, coins are rarer. It basically means that bitcoin is so valuable. Take gold for example. A limited amount of gold is available; and as it is further exploited, it becomes scarce and therefore more valuable.
The same goes for bitcoin. The value of Bitcoin can be verified by anyone. You can find out when new bitcoins are created and how many are in circulation. You can send your bitcoins all over the world and no bank, government or financial institution can freeze them.
Bitcoin has an impact on the global economy; and as more people join the network, availability increases.
How to secure your Bitcoin
Investing in Bitcoin is a serious project that should be taken as follows. Hackers and scammers are prevalent on the Internet looking for people who don’t want to get offensive information and cryptocurrency.
As this type of investment is the most valuable investment that can be made online and on the Internet, it has many risks. It is prudent to take steps to secure investments.
In the past, there have been cases where bitcoin wallets have been hacked by hackers. There are several good practices you can follow to ensure that your bitcoin is safe. Here are some things you should do:
Store a small amount of bitcoin in each wallet
Encrypt the bitcoin wallet for more security layers
Use a very hard password for those who know you
Always keep your software up to date
Make a backup of your wallet and store it in different safe places
Use an offline wallet to save your bitcoin
Before investing in Bitcoin, take your time to understand how it works, how you can secure your bitcoin, the difference between the conventional currency, and the impact bitcoin has on the world. With all of this in mind, you will have the right opportunity to decide whether or not to invest in bitcoin is for you.