The idea of investing for the average person can often seem like a daunting prospect. Many people may be put off by the idea of investing their hard-earned cash, let alone what they should invest in. Not only that, but the rise in digital currencies such as Bitcoin is further adding confusion as to whether this is a good place to start an investment portfolio.
Yet, it doesn’t have to be that way.
But, even though the currency is susceptible to fluctuating prices, some may still consider it a viable asset for investment. Investing in Bitcoin is not for the faint-hearted. Knowing when to buy is crucial as you will want to buy low and then sell high, but be prepared for massive swings in value.
Considering its relatively short lifespan, new investors may only be just discovering cryptocurrencies and the possible benefits it can provide, which can pose the risk of knowing what to look out for.
As there are hundreds of altcoins available waiting for you to swap your fiat money for the cryptocurrency, we recommend that you become a sponge and learn as much as possible about the space.
Since it’s so new, it’s very easy to believe in promises made by not so reputable companies due to lack of know-how or having nothing else to compare to.
If there are any digital coins you’re thinking of investing in, you should prioritize with Bitcoin and then Unobtanium (UNO).
To buy cryptocurrency you do so via online exchanges and platforms. If you’re interested in bitcoin you can buy the currency in fractions or ‘bits’ instead of the whole bitcoin with investment starting as low as $10 on out beginner-friendly exchange www.tradefada.com.
As bitcoin has a finite supply, which is capped at 21 million bitcoins, the system will stop producing new coins. Every four years the number of bitcoin halves with the cap expected to be reached by around 2140. However, it’s not known what impact this could have on the value of the currency.
Unobtanium also has a finite supply which is capped at 250,000 Unobtanium Coins that will exist ever. UNO just like bitcoin was never pre-mined and is managed by a community and does not belong to anyone. UNO has been in existence since 2015 and uses the SHA256 encryption just like bitcoin.