Why Is Bitcoin a Smart Investment?

Posted on: 7 April 2021

If you are looking for new ways to invest, you've surely come across the option of buying Bitcoin. This virtual currency has been around for over a decade now, and while it used to be an investment only for the most tech-savvy of folks, banks, and investment venues are now making it easier than ever for the everyday person to invest in Bitcoin. But why should you invest in Bitcoin?

1. It is not released by a government agency.

National currencies are released by governments, and as such, their value can be changed by governments. The U.S. mint can decide to print more currency, which changes the value of that currency, for example. Bitcoin is independent of any government. More is produced as more people mine it, but this is a private enterprise—not bound to the regulations or decisions of any agency. And there will only ever be 21 million Bitcoins produced. After that, no more can be mined, so the value won't fluctuate based on new releases as it does with a national currency.

2. Bitcoin is the way of the future.

People have moved further and further away from paper money and closer and closer to digital currency. Chances are that you spend far more money by swiping a debit card or tapping your smartphone than you do by handing over cash. Eventually, all money will probably be digital, which is why a digital currency like Bitcoin just makes sense. By investing in Bitcoin, you are investing in this future.

3. The fees are low.

So many investments come with high fees when you decide to take your money out. Selling real estate comes with high closing costs on each property. Invest in the stock market, and you'll pay capital gains tax on your earnings along with a broker fee. The fees associated with Bitcoin are really low by comparison. You'll pay little to transfer money in and out of Bitcoin in most cases, and this is even if you buy tens of thousands of dollars' worth.

4. The value sometimes skyrockets.

The value of Bitcoin climbed really high in 2013, and anyone who bought it before this and sold it at the peak made a near fortune. Chances are that there will be another spike like this again in the future, and if you invest right now, you could stand to make quite a profit from that spike.

Learn more by reaching out to a company that can help you buy Bitcoin.