One cannot deny the fact that the value of Bitcoin has increased massively. The question is whether this is the right time to invest money in Bitcoin. Bitcoin is a crypto currency that functions on the blockchain technology, and it is international in nature.
In April 2017, Bitcoin made a big headline with a massive all time high Bitcoin exchange price above $4000. It was almost four times the increase in the value of Bitcoin that was just a few months back, and almost seven times the worth of Bitcoin in 2016.
For example, if you had invested around $1000 in the stocks in April 2017, it would give you around $1040. But, if you have invested the same amount in the Bitcoin, it had worth around $4000.
There are several reasons that ensures that there is a joy in investing Bitcoin, and is also a good time to do so. Let us have a look at them briefly.
The transaction cost is really low
Perhaps the low and cost effective transaction fees is one of the prime reasons that gives so much joy in crypto coin investing. The cryptocurrency transactions fees are very minimum. It is usually 0.2% of the value of the transaction, when compared to the 3% of the fees charged by the US banks while using a credit card and buying a product in the foreign currency. Crypto currency is no doubt a cost effective and affordable means to transact money from one nation to the other.
The whole process is so easy and simple
The Bitcoin money is free from the unnecessary centralized power and authority, unlike the traditional paper and coin currency. The traditional currency always functions on the authority of the banks and the regulations of the central government. Hence, they have to abide by certain regulations and laws. On the other hand, investing in Bitcoin is hassle free without any challenges.
In fact, the transaction process is absolutely simple and easy without the complicated bank processing. You can send and receive Bitcoin money of any amount at any time of the day and night. There are no strict regulations like the traditional currencies.
Bitcoin doesn’t depend on the financial market
You don’t have to depend on the government services and a stable financial institutions of a country when you invest in crypto coins. This is because it works independently and is not bound by government laws and regulations. It has been found in some cases, that instability in the government in terms of political unrest can be good for the Bitcoin price rise. In 2017 when there was an unrest in the Asian political scenario, there was an upsurge in the price of Bitcoin.