Thinking About Investing In BitCoin..Is It a Viable Investment?

zackd Level 1

July 14, 2017, 9:26 am

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Thinking About Investing In BitCoin..Is It a Viable Investment?

I have always been intrigued by BitCoin however, I don't really understand the concept and I see it's always changing value by a drastic amount. So is it smart to invest in bitcoin or not? Have any of you guys tried it?

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Tronia

Tronia

I haven't tried it because I don't really need it. I don't know the BitCoin in-depth and therefore I prefer not to. Instead of investing you should focus on trading BitCoin - less risky and easier to make a profit. However, since you've said that you don't even understand the concept or how/why it's value changes, I suggest that you first look up some guides and experts that discuss different strategies on how to trade the cryptocurrencies. Before you trade or invest, you truly want to understand what you're doing

but yes, it is possible to make money, 100%.

7 years ago

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PedroP

PedroP

While I'm no expert, from what I could gather Bitcoin mining MIGHT be a viable investment IF you have a very good hardware (PC with a powerful graphic card) Because it is very intensive on your PC. Also, you'll need to study a lot to understand how mining works. If you have the necessary money, time and will to learn it might be good.

7 years ago

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airfightermax

airfightermax

Also, I don't even think mining for Bitcoin is viable, because most of the time, the electricity costs you'll incur outweigh the amount you'll be able to mine.

I think buying Bitcoin and waiting it out to increase it's price then selling it is a better way.

7 years ago

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Bat362

Bat362

At this moment,I would not invest.
Bitcoin price went up from 400$ to almost 3000$ in the very few months.Just googled BTC price,and now its 2200$.
Investing right now its insecure.The market price can go downside any time.Or you may even wait for a profitable price to resell BTC.
You can buy low amounts of bitcoin,if you are really curious to see how it works.
I have never invested,but know people who did,and they were successful.

7 years ago

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JoeMilford

JoeMilford

Bat362,
This is exactly the answer I was needing concerning bitcoin. I knew that the price had skyrocketed recently, and I guess I wish I would have gotten in on this earlier on, but, alas, hindsight is 20/20, as they say. I am thinking, actually, on looking into medical companies who want to invent 3-D printing of biological materials for human prosthetics...

7 years ago

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Laibrown

Laibrown

I have heard a lot about bitcoin. And from the little I know there are different dimensions to it. There's bitcoin mining part, trading and investment part. Actually the less technical aspect is the bitcoin mining and trading.
but in my opinion I don't think it is viable option. Because similarly I have heard and read stories about how the market is not stable and could crash. So before you get into the market do your research and be sure you can do the right thing

7 years ago

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ajlancer

ajlancer

Hi there thanks for your query. I do not have good idea about bitcoin or cryptocurrency. But, I heard some one who purchase or trading for bitcoin and earning good amount of money. But, I never ask him how he earns money by investing on bitcoin. But, as per as I know their has so many time rising trend and now it is too high against USD. So, in general if any trade make to high recent situation, you must to wait for next step what will happen. Because, any time it may fall down.
My suggestion is gain your own idea on it than come on for investment for bitcoin. But, be careful lot of fraud proactive to gain money offering something attractive for bitcoin.

Regards by Ajlancer

7 years ago

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wallet

wallet

Hi, I am a person who doesn't want to invest in anything. My goal is to win money and not to lose, and every investment has its risk to lose our money. BitCoin investment is very tricky as there are a couple of factors you should consider before investing, like the time frame, your risk attitude and your level of knowledge what are you investing in. I would not recommend it!

7 years ago

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hermessantos

hermessantos

If you search on youtube, you can find several videos of people who make a living just by investing in Bitcoins. I particularly believe that it is possible to make money from this type of investment, but I can not say how.

I also believe that this strategy will require a full dedication on your part to be able to operate your investments.

7 years ago

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Webguy2024

Webguy2024

I have been involved with bitcoin since 2011. I am part of a team that meets on zoom.us that discusses all aspects of bitcoin. If needed contact me for one on one help. I will open your eyes to the endless possibilities bitcoin has to offer the world.

7 years ago

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kgord

kgord

People who invested in Bitcoin early on reaped great rewards. I think it is Ok to invest in as long as you keep it to a relatively small amount..because who knows what the long term outlook is for this crypto currency. It could crash.

7 years ago

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galegatling

galegatling

You need a good and strong custom built computer if you want to try Bitcoin specially the mining part. You should also invest in a decent GPU because most bitcoin minings are GPU intensive. And you might want to search for the risks bitcoin mining gives. Cheers!

7 years ago

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harmony4love

harmony4love

The most important rule for anybody who sees themselves as a professional investor is to use the rule of compound growth, if you're planning to treat your account or wallet as a current account you just aren't likely to see anywhere near your potential.

7 years ago

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JackDan

JackDan

I never tried investing on Bitcoins but I heard that it is trending nowadays over the market. I do forex trading and do work with currencies marketing over Forex broker. As we all know that online trading is very risky if we don't have good knowledge about currencies and stocks in the market.

7 years ago

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overcast

overcast

The current rate of the bitcoin is 1BTC = 1100USD. So you can guess yourself how much profitable it is going to be for you. As you can see that you may have to work harder on the earning and then selling part. It may not be legal in your country. In such case you have to find other means for paying for the bitcoin. I have seen that some people do make investment into Bitcoin and for them it works out.

7 years ago

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giovanniiiii

giovanniiiii

Right now, it probably isn't. I believe it has reached it's peak or highest point that anytime soon I wouldn't be surprised if it's value decreases. Although it's enticing at first to invest if you have already read about the increase in value of bitcoin, but I believe the opportunity for great returns in bitcoin has already passed. I am no expert and I don't know everything about investing but there will always be risks in these investments, and of course, the returns will always be proportional to the risk.

7 years ago

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thart

thart

Bitcoin has reached all new heights, attracting the interest of investors and non-investors alike. Many people are more interested in trying to sang a piece of this crypto-currency's astronomical gains than really enjoy the unique attributes of an anonymos digital money. So it will good to invest in Bitcoin.

7 years ago

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arachnophobik

arachnophobik

It depends, be careful. Be careful because there are a lot of "investment' sites which will claim they will double your investment back or give it back to you with half as much profit, but there's a lot of scams out there. Typically they would let you invest once there's still a small pool of investors, trying to prove to you that they're legit and they will pay you, but once there's a lot of investors that come in, then they will suddenly shut down the site. Got scammed by those twice.

7 years ago

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amazingsteven

amazingsteven

I have not try it but I know people who make a lot killing from it, when the Bitcoin price was low back then. But now, it's very risk.

7 years ago

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mark8625

mark8625

I never tried too. I heard bitcoin in the internet and I have no idea how it works. I will do more research about it for sure.

6 years ago

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MariaC

MariaC

It would be smart to invest but not at the moment. There is a rumored fork to likely take place in August. So wait to see what pans out. In the meantime, search bitcoin on duckduckgo search engine and read any article you lay your hands on. Stay safe.

7 years ago

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rage35

rage35

It is a good investment because bitcoin's value keeps increasing but there are times that the value also depreciate but nonetheless, it is still a viable investment. Before you start investing in bitcoin or any cryptocurrencies, you should first study them so your investments will not go to waste.

7 years ago

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mcbryan080990

mcbryan080990

I tried Bitcoin a few months ago and I can say that it's not worth it. It is recommended by my friend and he said that I can easily earn money by collecting Bitcoin using captcha and other similar things. I tried it and believe it or not it's not worth it because it's like you're earning a little amount of cent wasting your 1 hour. As a result, I stopped it and instead find another way to earn money. I don't suggest Bitcoin to anyone because I don't want you to be like me. It's a useless way of earning money. They just taking advantage of man power.

7 years ago

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remnant

remnant

I suppose that bitcoin is a good investment going by the exchange rate
to the dollar. Further, as less block chains become available, the
thing is its value will increase exponentially in the foreseeable
future as more people and businesses adopt its use.

7 years ago

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zeedollar

zeedollar

Bitcoin is actually good for investment, but right now, the market is currently unstable and i will suggest you hold on a bit till it stabilizes. I still see it overcoming it current challenge and heading upwards again, but it might take a while. But when you notice its recovery then you can invest so money.

7 years ago

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galegatling

galegatling

Bitcoin is already falling low now and people are panicking already. It may continue to go low in a couple of weeks and we don't know if how long it will take to keep on falling. I have a lot of news lately from different sources saying the same thing.

7 years ago

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goldlady

goldlady

I think it is! I have heard a lot of possitive reviews about it. I have a couple friends that are experts in all of this stuff of digital selling, buying and saving money. They say it's a great way to save money. I think it works like the stock markets. Recently I invested in BitCoins, it might turn out to be a great way to have an universal coin to make payments without borders.

7 years ago

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PinkTurtle

PinkTurtle

Hi there! So I think it's not a safe investment. I look at it like a bit of a bet. It's risky and the value could change from one day to another. So I wouldn't recommend doing so. Also the process of selling and buying of the coin is really treacherous and you can end up losing all your money if you don't do it with a verify person.

7 years ago

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hermessantos

hermessantos

I've heard a lot about investments in Bitcoins. Some say it's worth it, others claim it's not a good deal. I would particularly like to get more information and test this type of investment to evaluate.

7 years ago

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augusta

augusta

Trading in Bitcoin now is the best,,you could invest now because it quite viable now.I have been getting free bitcoins(satoshis) from free faucet,but hope to invest greatly in it with time.So you could go ahead with your investment.

7 years ago

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jaymish2

jaymish2

I also have been thinking of investing in Bitcoin. I also don't really understand it. The more I read up on it, the more familiar I get with it. I also think that's it's not a bad idea to invest in it. Bitcoin is a risk for sure because it is always going up and down in value. Lately, it's value is rising higher and higher.Many analysts from investment companies are predicting that it will continue to rise and may even take over from Gold as an alternative currency, to keep your money, when the value of the dollar is decreasing.

I have decided to invest in it, because true the value may drop, but what if it continues to rise and becomes an alternative currency?Those who didn't invest will regret it big.

7 years ago

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blackmist

blackmist

If you are planning to invest now I don't think that it is a good Idea. Bitcoins price are drastically decreasing and who know if it will increase soon. But maybe if the price will slowly go up then it's wise choice to invest.

6 years ago

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Kakashi2020

Kakashi2020

If you have some spare money then Bitcoin in my opinion is a good investment. Just buy it when the price is down and not when it's bullish and it's price is going up.

6 years ago

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Corzhens

Corzhens

I am not against Bitcoin and other crypto currencies but my take on them is like a commodity. The Bitcoin is actually an intangible commodity that you only hear and see but you cannot touch it. In fact, I don’t think there is a real coin just like the US dollar coins. Anyway, investing in Bitcoins is like investing in the stock exchange so you have to be vigilant in the market. Buying and selling is a tricky business.

6 years ago

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