3 things you need to know before investing in Bitcoin

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#3 Things you should know before investing in Bitcoin

Bitcoin vs Traditional Investments

– Difficult to make comparisons
– Usually compared to gold due to limited supply and mining which takes time, energy and resources.
– Unlike gold which has had perceived value for millennia, Bitcoins exact value is yet to be determined.
– This makes bitcoin an equally exciting and uncertain prospect.

Is there interest?

– Bitcoin does not gain interest over time.
– If you bought 1 bitcoin in 2015, you will still only have 1 bitcoin in 2019.
– The only difference is that the monetary value of 1 bitcoin has increased since 2015.

Are there transaction fees?

Yes, there are transactional fees to keep bitcoin operational.

Visit bitcoinfees.info for the latest fees on the bitcoin network.

Bitcoin fees are so that your transaction can be processed by a miner and confirmed by the bitcoin network.

What does it do?

– Bitcoin was not designed specifically to be an investment,
– but rather as a functional borderless digital currency.
– Created as a reaction to the 2009 financial crisis (global recession).
– It was meant to be a solution to the shortcomings of a centralised financial system.

Sign up for a free Coindirect.com account & get a free bitcoin wallet

This wallet allows you to buy, sell, store, deposit and withdraw bitcoin.

Sign up with the link in the description to get 5XRP after your first transaction.

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