Bitcoin has surged in popularity ever since it exceeded the $1000 mark. I have received more emails than I can count asking me whether investing in Bitcoin this year would be a good option. To all of those whom I have yet not been able to address directly, consider this my answer.
Yes. Bitcoin is a good investment option for those looking to earn money quickly. However, as is the case with everything, high reward comes with high risk. This means that you will risk a loss and if successful, you will make profit. So, with that in mind, I am going to tell you the three basic ways you can profit from Bitcoin.
How Will My Bitcoin Investment Benefit Me?
Before I answer the above question, I want to talk about the idea of investing itself. There are basically three ways of doing that. They are –
- Invest in the currency
- Trading the currency
- Invest in companies founded on the basis of the currency
All the three have their own advantages and shortfalls. However, it can be said that investing in one or all of these different ways is a sound decision. Nevertheless, you should be ready to suffer some loss and take a calculated risk rather than a wild gamble.
Are There Any Other Alternatives?
Yes. The cryptocurrency market is rife with options and new ICOs are coming up every week. However, choosing the right one requires detailed research and analysis. For your benefit, I have already done that. So, here are the top 3 most promising cryptocurrencies on the market:
In essence, Loci is a patent research tool based cryptocurrency. The tool itself, InnVenn, allows the sale and purchase of intellectual properties using LOCI coin. So, innovators can make money easily through this cryptocurrency.
Like the name suggests, this cryptocurrency has to do with renting places for the long haul. By automating contracts, it saves tenants and landlords time and money. At the same time, it also eliminates the need for security contracts.
Built by exceptionally smart people with names like Amazon, Microsoft, and Google on their resume, Cypherium is one to watch. This platform will supposedly allow limitless scaling and if true, can easily be the reason blockchains go mainstream.
All in all, you have many investment options to choose from. Bitcoin might be popular but that doesn’t make it the best investment option. It has its pros and cons. It would advise you to keep an eye on the market and know which coins offer what features. Then you can make a good decision. If in doubt, you can always write to me and I will help you as best as I can.