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Is Bitcoin Still a Valuable Investment in 2016?

By: Elite Legacy Education, October 3, 2016

Is Bitcoin Still a Valuable Investment in 2016?

 

Bitcoin has become a hot topic since it debuted in 2009 as a valuable investment opportunity for the digital age. There are entire websites and guides on investing in Bitcoin and profiting from it. Is it still a valuable investment in the current year or will it fade away?

Bitcoin is a form of currency that is 100% digital. It is not controlled by anybody and it is not printed like every other currency that exists on the planet. In other words, it is completely decentralized. The original purpose behind the concept of Bitcoin was to keep power away from governments and central bankers.

Setting up your own address to receive Bitcoin takes no time at all and you can own multiple anonymous accounts. This effectively makes Bitcoin the world’s first universally accessible currency.

No other currency in the world has these features, making Bitcoin an incredible investment in the current day and age. Its value has appreciated all around the world by 50% since last year and this trend won’t be stopping anytime soon. 

There are only three potential downsides to investing in Bitcoin. The first is that it is fully transparent – every single transaction is recorded and people can see how much Bitcoin is stored at your address. However, it is not public information that it is YOUR address. The second downside is that once you send Bitcoin, you cannot get it back. The other person has to willingly return them to you. Finally, there is a finite number of Bitcoin in existence – 21 million to be exact. That is the maximum amount that can be created by miners (special computer hardware that solves cryptographic problems to generate Bitcoin).

In the future, you can expect to see a push for scaling Bitcoin and improving its functionality to compete with credit cards. Changes such as improving the user experience and providing protections for customers are just some of the things in store for the future of Bitcoin. Many companies such as Amazon and Expedia have already started accepting Bitcoin as a form of payment. People are still trying to learn more about how Bitcoin works and how it can become part of a solid investing strategy. Those who are currently investing in Bitcoin will likely reap great rewards within a few years from now.

Do you use Bitcoin as part of your investment strategy? Share your thoughts on social!

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