Although the craze may not be as exciting as it was say a few months back, Bitcoin still manages to catch people’s attention. I know of friends and aquanitences that have invested in Bitcoin or other cryptocurrencies and believe that they will end up with a quality return. I have also heard of others saying to stay away from it and other cryptos due to not being backed by gold or other forms of existing currency. That was a few months back. I believe that Bitcoin specifically was attempting to get backed, but not sure if it has yet.
Despite the initial excitement and overall risk, cryptocurrencies in my opinion are the future. I mean everything is becoming more digital and it is just a matter of time before cryptocurrencies replace the common penny or dollar. Although they are still relatively new and can potentially have positive affects on our way of life, they are still new and undergoing regulation and security protocols. Just like anything else “new” things, take time before they are able to be utilized to their potential. In other words, they are very risky when it comes to trading and or investing.
If you are going to invest in Bitcoin or other cryptocurrencies, from what I hear from a good friend, it is best to store your cryptocurrencies on separate drive or drives until you are ready to sell. This can prevent theft from hackers and anyone able to access your computer or phone to steal any of your personal information. Again this is from what I hear but it makes sense. With anything digital it is possible for people to gain access to personal information. I mean how many times has someone’s credit card information been stolen or used by unauthorized individuals e.g. criminals.
Whether or not you should invest in Bitcoin or not, is not up for me to say. Some people have made a profit off of it, I’m sure some have either lost, or will lose from it as well. I feel that is with any investment. If this is something you are going to look into at all I highly advise you to speak with a professional and do so with extreme caution. Some people have money to spend, invest, or even gamble, while others cannot afford to lose a penny. I guess it all just depends on the person and the circumstances. Either way I would say that Bitcoin as well as other cryptocurrencies are a very interesting and exciting topic when it comes to thinking of new technology leading forward into the future.