An increasing number of people are starting to wonder; is it safe to invest in Bitcoin in 2021? Look, there’s no shortage of investors who brag about making serious bank from their Bitcoin. This has been especially true in the last few years. Since it came onto the scene in 2009, Bitcoin has increased in price from $0.01 to $20,000 for a single coin! This means someone who invested $50 in Bitcoin in 2009 could have cashed out $100 million when the crypto reached its peak.
There are no other assets in the world today that can give you the same returns.
In the following guide, we’ll seek to clear up much of the confusion surrounding Bitcoin investments today. Especially when considering the amount of misinformation available on the subject out there. We’re going to answer one of the most burning questions about this famous cryptocurrency; is it safe to invest in Bitcoin in 2021?
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The Huge Potential of Bitcoin
If you’ve ever done research about the monetary system and the creation of money, you’ll find that both are in the hands of a very small group of people. As part of the top 1%, these people are completely out of touch with the needs of the majority. Their policies usually reflect this. Bitcoin has completely turned this dynamic on its hands by returning the power back to the people. This is why it’s considered a disruptive force.
1. Fair Monetary Policy
Most of the economic instability that we experience happens because the creation and the control of money are determined by a small group of people. Things like inflation wouldn’t exist if this wasn’t the case, because fiat money wouldn’t lose its value as rapidly as it does each year.
Hyper-inflation is the worst type of inflation there is, and it happens when the circulation of money increases to the point that it gets out of hand. A few good examples of this include countries like Zimbabwe and Venezuela.
By design, Bitcoin cannot over-inflate like regular fiat currency because its creation is decentralized. Plus, the monetary policy which Bitcoin is based on is virtually bulletproof and cannot be manipulated or violated by anyone.
The fact that Bitcoin has a capped 21 million coin supply is a clear indication of the effectiveness of its hardcoded monetary supply.
2. Better Gold Alternative
Bitcoin is often referred to as “digital gold” due to the following reasons:
- Cheaper Transport: The cost of transporting gold that’s worth $100 million from one part of the world to another is astronomical. But, you can easily do the same with Bitcoin and with no price tag attached. You just have to pay a small fee.
- Verifiability: To prove that you own gold, you’d have to take someone to your vault and physically show them. Bitcoin doesn’t come with the same verification requirements because it works according to a completely transparent blockchain ledger. This makes it easy for anyone to verify transactions at any time.
- Easy Storage: Bitcoin isn’t a physical asset which makes it super easy to maintain without the use of security vaults and other measures. All you need is a reliable cryptocurrency wallet and a good VPN like IPVanish. A VPN offers end-to-end encryption technology to keep all of your online activities private and secure.
- Small Environmental Impact: There’s no denying that gold mining is one of the most destructive industries in the world because it erodes natural landscapes while using dangerous chemicals. In comparison, Bitcoin mining only consumes a small amount of electricity which can be generated through many different means.
It’s worth noting here that if Bitcoin were to achieve a similar valuation as gold, its price would reach $340,000 per coin with a market cap of $6 trillion.
3. Uncensorable Money
As we mentioned, the Bitcoin network is decentralized which means no one can roll back or stop the ledger. This means there’s no chance of an authoritarian figure manipulating it from the “background” because everything is out in the open.
Why is 2021 a Great Time to Buy Bitcoin?
Are you still asking is it safe to invest in Bitcoin in 2021? Consider this; Bitcoin is one of the most popular cryptocurrencies in the world, even though it has been around for almost a decade and has about 1,600 competitors.
Plus, the amount of praise that reliable figures have for Bitcoin is astounding.
- Thousands of merchants from different industries now accept Bitcoin as a form of payment.
- Pension Funds and Investment Banks are starting to adopt Bitcoins.
- Bitcoin is set to solve the scalability issue courtesy of the Bitcoin Lightning Network.
So, is it safe to invest in Bitcoin in 2021? The resounding answer is yes. As you can see from the evidence presented above, Bitcoin is safe, reliable, very valuable and you can access and track your transaction from any device that allows you to go online.
Let us know in the comments section below if this article has taken you one step closer to investing in Bitcoin this year.