There are plenty of crypto-currencies to invest in, so why choose Bitcoin? Well, we are going to look at a few reasons, maybe more, as to why you might want to go that route. It is the most widely known digital currency. That doesn’t mean you have to be an investor for that reason. Yet if you’re going to invest in crypto-currencies, there are other reasons why you might want to choose BTC.
BTC is the ticker of cours bitcoin, and let’s just say it has seen some action lately. This currency soared all the way to nearly $20k per coin, then it went back down to around $7.5k recently. Considering it has already shown how high it can go, just for now, it is making many investors pay attention. Some of the other digital currencies have yet to prove themselves. In fact, some of them are viewed like penny stocks.
There are crypto-currencies that cost a pretty penny, but they aren’t as well-known as BTC, not even Litecoin and Ethereum. Two of the most interesting coins that I like are actually ones that don’t cost a lot at all. Just remember though that even when it comes to currencies that cost quite a lot, you don’t have to have that kind of money to invest.
In other words, let’s say you want to buy BTC. You can invest small increments at a time. Think of it like buying partial shares of a stock. In the stock world, most brokers are going to make you pay for an entire share. So if you wanted to buy one share of Warren Buffet’s Berkshire Hathaway, for example, you would need almost $300k for one Class A share.
Yet when it comes to digital currencies, you can invest a little at a time, building up to one Bitcoin for example. With coins like Ripple, you only have to pay about $1 to get one. Then there is my favorite, Dogecoin, which costs less than a penny. There are people that make fun of Dogecoin, but it really was never supposed to catch on and is quite interesting.
Another reason to invest in BTC is the fact that the whole digital currency world has yet to really catch on completely. So if you are going to invest, it makes more sense to perhaps choose the most stable cryptocurrency. It’s still up to you, but you have to think about digital currencies in terms of real investments.
You can invest just a little bit of money in them, but you don’t want to ‘play’ investing. All money is real money, so in other words, you don’t want to waste your dough. You want to be confident that you’re making a good investment. That is why BTC and its track record perhaps represent the best opportunity when it comes to investing in digital currencies. You also have to decide how you’re going to invest, as you have choices. Check out the brokers, learn about digital wallets and figure out if BTC is an investment you want to make.