Back in 2017, the price of Bitcoin topped $19,000, and thousands of early supporters became millionaires basically overnight. Since then, Bitcoin never managed to bounce back. This made a lot of people start thinking that cryptocurrencies are nothing more than a dying trend.
Is that the truth? As of this writing, Bitcoin is worth approximately $9,400, will this stay the same? Is investing in Bitcoin still a valid option in 2020? If yes, then how can one even get into the world of Bitcoin investing? These are the questions we aim to answer today.
Let’s start from the beginning and see are there any Bitcoin investors left and why they’re still investing their hard-earned cash into this cryptocurrency…
Why Are People Still Investing in Bitcoin?
The first thing you need to understand is that Bitcoin – like any other cryptocurrency out there – is extremely volatile. That means the price goes up and down on a daily basis. The price is mainly affected by supply-and-demand, but since Bitcoin is still new, a lot of things affect it.
For example, world-changing events like the recent COVID-19 outbreak affect it as well as small things like extensive media coverage.
Even though Bitcoin hit a three-year low in March, the cryptocurrency managed to get out of the slump and bounce back pretty quickly. So much so that many experts are now predicting that 2020 will be a record-breaking year for Bitcoin.
As a matter of fact, recent Bloomberg research indicates that Bitcoin could be worth as much as $28,000 by the end of the year. A more modest expectation is that the price will hit $20,000. Nonetheless, increased interest in Bitcoin will surely have a positive impact on its price.
That’s why so many people are still investing in Bitcoin. Now, let’s see what’s the best way for a person to get into Bitcoin investing.
What’s the Best Way to Invest in Cryptocurrencies?
Companies have a number of different ways to get in the crypto game: they can start accepting Bitcoin payments, invest in a Blockchain company, or even launch their coin. For individuals, however, options are a bit more limited. Bitcoin investment works similarly to stock investing.
You buy a certain amount of Bitcoin at a low price then sell it when the price goes up. Repeat the process for as long as you want to invest. Simple as that. There are two ways of doing this:
- Through a Bitcoin broker
- Directly through an exchange
A broker can help inexperienced investors break into the market and start their career easily. But most brokers charge a substantial fee. That’s why the best way to invest in Bitcoin is through an exchange. Of course, you need to find an exchange that’s both trustworthy and user-friendly.
If you’re looking for ease-of-use, transparency, coupled with premium technology, you can’t go wrong with NordikCoin. Let’s see how the platform can help you start off your investment career the right way.
How to Invest in Bitcoin Using NordikCoin in 3 Steps
First off, let’s say a few words about NordikCoin. Established in 2019 by a team of financial experts, lawyers, and security specials, NordikCoin holds all the licenses one needs to buy, sell, trade, and store several cryptocurrencies, including Bitcoin.
The company’s main aim was to create a hassle-free experience for new users and to allow them to start purchasing Bitcoin in less than 5 minutes. They offer pretty low fees as well as MasterCard and VISA support. This creates a seamless experience for their users and keeps them coming back.
Here’s how to start trading Bitcoin using NordikCoin in 3 simple steps…
1. Create a Bitcoin Wallet
The first thing that separates NordikCoin from the rest of the pack is the wallet they offer. Unlike most companies that provide only online wallets, NordikCoin’s wallet is software-based and can be used when your device is offline. This gives the user another layer of security and ensures that their coins are stashed safely when they’re not using them. All you need to do in order to get a NordikCoin wallet is gone to their website, register an account, and you’re all done.
2. Connect Your Account
Next, you need to connect your wallet to a bank account. Another good thing about NordikCoin is that it supports multiple credit companies such as Visa and MasterCard. Even if you get stuck at some point during the process, you can contact their customer support via phone or email to help you. The exchange even allows users to purchase Bitcoin in their local currency, which means that you don’t have to exchange your money into Dollar before making a purchase.
3. Start Buying Bitcoin
After you connect your wallet to your bank account, you’re free to purchase as many coins as you want. Now, since one Bitcoin is rather expensive, how can you start investing if you don’t have tens of thousands of dollars stashed away? You can purchase a fraction of Bitcoin at first and only when you earn enough money through smart investments you can buy a few Bitcoins.
Start Making Smart Investments Today
Even in 2020 Bitcoin is still a good investment option. There’s a good chance Bitcoin will be worth as twice as it is now. Now is the right time to get into Bitcoin invents, especially if you were already thinking about it before.
If you want to make the entire process easier, you should give NordikCoin a try. The exchange allows you to create a wallet, connect to your bank account, and make your first purchase in just a couple of minutes. Sign up for NordikCoin and make your first investment today.