World BTC Review: How reliable it is?

World BTC Review
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World BTC Review:

Thinking of investing in Bitcoin? This article will help you to understand how RELIABLE Bitcoin is.

World BTC Review
World BTC Review

I believe Bitcoin is the future of monetary exchange. Trading goods with a universal currency without any complications would make our lives and jobs much easier. Bitcoin is very popular nowadays, but there are some very serious risks that are very much involved in dealing with Bitcoin. With the recently gained popularity, there are huge numbers of people who are willing to invest in Bitcoin, but before doing so I would suggest you to be aware of the concerns and risks involved in investing in Bitcoin. Here are a few points to take note of before investing.

 

  • Extremely volatile and fluctuating environment

The first high risk of Bitcoin investing is the prices. As the Bitcoin prices are highly volatile, it involves huge risks as well. Honestly, there is no possible way to analyze Bitcoin before investing. With such a volatile market, there are no guarantees on return on investment. It is highly recommended to keep a watchful eye on the market. I would suggest you to make small investments that would be more beneficial in the long term.

 

  • Cyberattacks

I believe hacking is a serious risk that comes along with the cryptocurrencies like Bitcoin. As Bitcoin is a technology-based currency, it opens up threats like cyberattacks. As well as there is no way to retrieve your lost or stolen Bitcoin. I have gone through several reports that says most of the investors incur losses while exchanging and mining. Exchanges are more likely to be hacked even with smart wallet.

 

  • Fraud

Along with the cyberattack threats, many of the investors fall prey to fraud as well. Buyers and sellers trade online and some of the exchanges can be fake. The lack of security is a huge factor in Bitcoin exchange. However, I believe that new systems have been created to stop this nature of frauds but security still remains the biggest concern. Warnings have been issued to the investors to be aware of these kinds of fraud transactions.

 

  • Few or no regulations

As the Government does not have any fair stance of the cryptocurrency, there are few to none regulations. The market is just too new to prepare the regulations. It is not taxed as well, which makes it attractive for investments. As of now, Bitcoin is not a universally accepted currency, but the future is ever-changing and nobody can say what the future has in store for the market.

 

  • Technology Dependency

Bitcoin is technologically dependent and the coins are mined and exchanged digitally through smart wallets and various systems. Without this technology I believe the value of Bitcoin is nothing. Unlike any other form of currency and investment, Bitcoin has no physical presence. With the other forms of currencies or investments, you own something that can be exchanged. Bitcoin is 100% technology-driven and always has risk of shutting down and fraud and cyberattacks.

 

  • Loss of Finances

As many people buy into Bitcoin, it creates a Bubble Economy. But when the bubble bursts the Bitcoin will become useless, there will be so many people holding the cryptocurrency, unable to sell. There is no return on investment and they will be incurring heavy loss because of this. Bitcoin is referred to as Ponzi scheme, the people at the top are just benefiting from the ignorance of others.

 

  • Limited Usage

Bitcoin has very limited usage. Few companies like Whole Foods, Starbucks, Nordstrom, and few other companies accept Bitcoin but it is still not accepted most of the companies around the world and it is still not legal in many countries. Bitcoin is already taking steps towards a new monetary revolution but at the current state it or pace I have no idea as of when this will be widely accepted.

Let me make this extremely clear, that it is very difficult to track illegal activities in the cryptocurrency space. Since there is very little information about the trading parties and the exchanges I highly recommended you to think and consult multiple times with Bitcoin experts before you plan on to invest in Bitcoin. You may consult with others and research online but do not believe anyone blindly. Not even me! In the end, you are the best judge to decide upon your own investments.

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