Crypto-currency is the rave at the moment. It is the most trending happenings in the world at the moment. One would, therefore, wonder how they can partake in this multi-billion-dollar trend. One would readily ask, is Bitcoin trading profitable?
Yes, Bitcoin trading is profitable.
Bitcoin trading can be tremendously profitable for both professionals and beginners. The market is still new and extremely split with huge spreads. Middleman and margin trading are broadly available. Hence, a lot of people can make profits trading Bitcoins. But you should read the reviews such as https://elitetrading.de/trading-software/bitcoin-revolution-review/ before investing in bitcoins
Bitcoin’s antiquity of bubbles and instability has perhaps done a lot to bring in new users and investors than any other facet of the crypto-currency.
Every Bitcoin fizz creates publicity that puts Bitcoin’s name in the news around the world. The media rave causes more people to become interested, and the price tends to rise until the hype diminishes. These single acts make a lot of person do Bitcoin trading to get Bitcoin profits.
Bitcoin is one of the foremost cryptocurrencies. One of the motives Bitcoin develops high popularity is that Bitcoin is the first cryptocurrency that is peer-to-peer and highly decentralized. It depends on cryptography, typically alongside a show of work structure, in order to make and manage the e-currency.
A worthy way to look at Bitcoin is to take it like “gold/money that you will only teleport one way” (or, “email protocol for cash”). Dependent on your view of Bitcoin, you can take it as “gold” or “cash”.
One can make Bitcoin profit through worth speculation. It is just like how you can invest and profit from gold as also in currency trading.
Bitcoin acts like “gold” as it shares lots of similar natures like scarcity. Only about 21 million units of BTC would be produced and it will be more be any more. Bitcoin offers single features such as low-cost currency transfer, decentralized protocol. Just like how gold got some of its value through its unique features. Assumed that our fiat currency is not tied with gold, gold is being treated as a substitute asset class/investment system.
However, different from gold, Bitcoin is never stable in daily transactions. Hence, Bitcoin, as a currency, can and represent some percentage of the world trade. This is what a lot of people are banking on. Calculating the long-term value of Bitcoin, 1 BTC (currently valued at $10000) would equal to about $16K or higher. Pretty much a “die or fly” situation. This is the risk early adopters are taking. [Germany says Bitcoin a currency; subject to 25% cap gains tax]. People are making lots of money off of Bitcoin trade.
People might say Bitcoin trading is a waste because its price fluctuates a lot. That is where the money is made when the price fluctuates. However, we cannot ignore the fact; that Bitcoin is the first decentralized cryptosystem which we have ever seen, that Bitcoin is a “currency” itself. When given some time the trade price will be stabilized.
Lots of Bitcoin profits are being made daily by trading Bitcoin on the exchange sites made available to us today. However, one should be careful and also utilize the fluctuating prices to make more profits.
Narendra Sharma is a Freelancer Writer, Entrepreneur and passionate blogger. A writer by day and a reader by night.