Recently, there has been an increased interest in cryptocurrency. One of the most popular of which is Bitcoin. It is a self-regulated algorithm that does not require credit cards, bank loans, or currencies. Bitcoin can be used to transfer funds to another person, it can be used to purchase online, and it is often used to trade rather than investing in stock trading.
These two are unique strategies for growing your money. Their main difference lies in the period covering the assets being withheld. Investment is a long term commitment to assets, while trading is a medium to long-term activity.
There are key reasons why millionaires prefer Bitcoin trading.
No Bank Involvement
If you are financially literate, you know how banks work. They earn through money lending, and the person who borrowed is a victim. Most rich people own these banks, so they do not help people financially despite lending money because interests on borrowed money are high. It is harder for the borrowers to save money because a bigger portion of it still goes to the bank.
Bitcoin is Highly Volatile
Bitcoin’s price volatility is famous, which makes it attractive for short to medium-term trading. Its volatility would mean a rapid change in its price up to 20% daily. This is what aggressive traders look forward to as compared to a 1-3% volatility for stocks. This just gives traders more wealth if they trade in Bitcoin. Even when volatility would mean rapid decrease as well, say, for example, you trade $5000 in Bitcoin and earn $1500, and it suddenly drops tomorrow by $500, you will see that you earned in this case.
There is a risk, but once you know how to predict the market price, you can easily play around. You are likely to earn more once you get to know how to predict the market trends.
Bitcoin is Revolutionary
Bitcoin is a long term investment, and it being revolutionary, no matter if its market value drops on a single day, traders believe that it still increases up each day. The best thing about it is that it is not a result of corruption, your money will grow based on the market. No person leads and makes money from it. For first time traders, you can seek help from a community of traders who uses a Bitcoin revolution app so you can easily understand the mechanics behind trading. Since it is still in its infancy stage, there is also a greater chance of profit because there are a few professional traders.
Fat and Easy Payments
As a beginner, you can also see some benefits like ease of electronic payments and transfers. A bitcoin wallet is readily available for download as an application on your mobile phone, and you can make transactions to and from your wallet quick and hassle-free anytime. All you need is your address, and you can send money to a recipient at a low transfer cost.
Bitcoin trading is a great tool for investment, and it is accessible worldwide without the need for currency conversion, also, there is no third-party intervention, thus, no hidden transaction charges. In general, cryptocurrency investment like Bitcoin trading is a good investment.