A lot of people nowadays believe that the ship has sailed when it comes to investing in Bitcoin and other cryptocurrencies. While there is some truth to that statement, it seems that cryptocurrencies and the blockchain technology isn’t yet done disrupting the conventional monetary system.
This doesn’t take away from the fact that there’s a lot of conflicting information out there on the issue. This could definitely cloud your judgement. It’s true that Bitcoin is a new asset and it’s part of a very volatile market. However, as an investor, you shouldn’t make a decision based on fear. It’s better to make an informed decision based on your investor profile, probability and timing.
Sure, it’s hard to avoid the headlines on Bitcoin fluctuations and overall market volatility. Much of the information available can be discouraging to any investor. That’s why an increasing number of people are asking; why should I buy Bitcoin, instead of asking when should I buy Bitcoin.
In this article, we’re going to give you some concrete reasons why you should own Bitcoins in 2019, based on our own research and experience.
1. Improved Regulations
Seeing that cryptocurrencies are becoming increasingly popular over the years, regulations have been introduced to regulate them. This has had a positive impact on the industry. Buyers now have more certainty which has done wonders for the market in terms of improving coin prices and trading activity.
Investors are more interested in buying Bitcoin because it’s harder for criminals to apply crypto scams due to tighter regulations that hold coins and investments to stringent criteria. These regulations have done a lot to strengthen investor confidence. This is one of the reasons why you should own Bitcoins.
2. Blockchain Adoption
Bitcoin is the most famous cryptocurrency in the world because it was the first to come onto the scene but it’s by no means the last. There are currently over 1,600 cryptocurrencies available and counting! The best part is that blockchain technology is rapidly evolving as shown by the release of the Distributed Ledger Technology.
Organizations around the world are starting to take note and are investing considerable time and resources to study how cryptocurrencies work. This is done so they can leverage them in their own businesses. Still, why should I buy Bitcoin? Read on to find out why it’s more than just a passing trend.
3. Simple Investment Form
Another of the many reasons you should own Bitcoin is because it’s a simple investment. For someone with no investment background, the prospect of investing in cryptocurrencies like Bitcoin can be quite daunting. Luckily, times are changing and almost anyone can get their hands on valuable and reliable information on cryptocurrency trends and developments. One of the things you’ll discover is that there are fewer barriers to entry.
If you look at a digital wallet like Coinbase for example, you’ll find that it has over 10 million users who can purchase Bitcoin Cash, Litecoin, Ethereum and Bitcoin instantly and from any device. Even market investment funds include cryptocurrencies as an investment option which makes it that much easier to buy Bitcoin.
4. Great Alternatives
For over a decade, Bitcoin was the leading crypto on the market, but many competitors have risen in response. Crypto investors are spoilt for choice when it comes to the amount of coins they can buy into. Take Litecoin and Ethereum, for example. Both are lucrative alt-coins that are growing rapidly. Just keep in mind that investing in cryptocurrencies comes with a certain level of risk, just like any other investment.
That’s why you should always invest with the understanding that you can possibly lose a huge chunk of your investment. This is if the market tanks and you must be prepared to take that loss. As a result, it’s advisable to invest in crypto as part of your overall investment portfolio instead of making it a standalone investment.
5. Promising Future
As any seasoned investor will tell you, it’s all about the long game. Looking for small price variations and short term wins is a recipe for disaster because it’ll cause you to panic at the slightest variance. Instead, we advise that you invest like Warren Buffet, which entails holding onto your investment over a long period of time no matter how low the price gets. This strategy is based on the understanding that market fluctuations are natural. So what goes up must come down and vice versa. Instead of selling out at a low price out of fear, it’s best to stick out the volatile moments of the cryptocurrency market.
The Bitcoin price went from $20,000 in December 2017, to a low $3,000 about 12 months later. But, the price bounced back again in May 2019, when Bitcoin was valued at over $6,000 and it’s now worth $8,000. The moral of the story here is to always look at long-term gains that are likely to come in 5 to 10 years.
6. Scalable
One of the reasons you should own Bitcoin is because it’s still a reliable and scalable cryptocurrency. Sure, it has faced some reliability issues in the past, but so has the conventional banking system. We all know that bank systems go down all the time, leaving the user to suffer from delayed card payments and online banking issues. Plus, other cryptos like Ethereum and EOS have shown themselves to be unreliable in the recent past.
On the contrary, Bitcoin has proven itself, time again, to be a reliable investment. The last Bitcoin outage that anyone can recall happened back in 2013 and only lasted for a few hours. The group fixed the problem swiftly and the crypto has shown no sign of unreliability since then.
Due to the high demand, Bitcoin systems slowed down in December 2017. This made it extremely difficult to carry out seemingly small transactions and the fees went up to $20 per transaction. These delays didn’t last forever though as Bitcoin solved the problem and bounced back stronger than ever. It’s much cheaper to carry out a Bitcoin transaction than it’s ever been, not to mention faster. Still asking yourself; why should I buy Bitcoin? Keep reading.
7. Market Optimism
There are a lot of reliable and successful people who continue to show optimism in Bitcoin. This includes people like software developer and antivirus creator John McAfee and Chief Commercial Officer at BitPay Sonny Singh. Another Bitcoin optimist is Tom Lee, co-founder of Fundstrat and ex-strategist at JP Morgan. Meanwhile, Galaxy Digital founder Mike Novogratz holds a belief that Bitcoin will reach $10,000 by the end of 2019. Even the famous Winklevoss twins have shown their support for Bitcoin’s future prospects.
8. Fast Transactions
Since Bitcoin is based on blockchain technology, it’s safe to say that it has the potential to create a more reliable and effective payment system when compared to VISA, for example. That’s because Bitcoin offers lower fees, tight technical security and faster transactions. This means you can transact with Bitcoin at a lightning speed, and the transactions will be recorded and stored in the blockchain’s public ledger. This is a great security measure that ensures longevity and integrity for the BTC blockchain.
Is There a Crypto Bubble?
So, what about the purported Bitcoin bubble? Well, it only makes sense that the price of Bitcoin would increase as more people buy into this crypto. Due to this constant price increase, commentators believe that the cost of Bitcoin will reach astronomic levels.
Of course, the whole 2013 debacle didn’t help. This was the first time the price of Bitcoin reached $1,000 and it was a major milestone for the crypto. Soon after though, it plummeted to $300 and stayed there for about two years after.
Of course, the whole 2013 debacle didn’t help. This was the first time the price of Bitcoin reached $1,000 and it was a major milestone for the crypto. Soon after though, it plummeted to $300 and stayed there for about two years after.
The moral of the story here is that Bitcoin might experience some turbulence sometimes but it’ll always bounce back. The onus is on you to make smart decisions as an investor and try to stay calm instead of panicking whenever the pundits say something negative about Bitcoin.
Become Part of the Future
As you can see, there are many reasons why you should own Bitcoin. But, this should be just the start for you. The crypto industry is just getting started and while Bitcoin is still the biggest player, it’s not the only one. The blockchain technology continues to disrupt many industries including medicine, production lines, voting systems, healthcare, banking, insurance, supply chain management and even accounting.
Making an investment in the cryptocurrency industry makes you part of a technology that will continue to shape the future. Just make sure to buy your Bitcoin from reliable merchants with a proven reputation and use a VPN on all your devices (yes, that includes your Firestick and Fire TV Stick too!)
We recommend IPVanish because it’s one of the few VPNs that offer end-to-end encryption technology which hides your identity and they don’t keep any record of user history or transactions.
Did you find this article helpful? Are you no longer asking why should I buy Bitcoin? Drop us a shout out in the comments section below. We would love hearing from you!
