Bitcoin is known to be one of the most popular of decentralized currencies y that are used for cross-border transactions, and you can trade bitcoin as an asset to earn profit. When it comes to Bitcoin investment, you can keep your investment and transactions away from the praying eyes of your state authority because no government or central bank can monitor or access your bitcoin investment and portfolio. For more detail about Cryptocurrency Trades then look at here.
Moreover, people looking for a currency that can be used online with an anonymous identity and bitcoin can give you such advantages. All transactions made with bitcoin are indeed stored in a public ledger, but you can hide your identity while you transfer your coins. Many people think that using such tokens and coins for transferring funds with anonymous identification can lead to serious problems and people can use their bitcoin for illegal activities.
You must know that without verifying your account with KYC on a crypto exchange, you cannot even buy a bitcoin, and if you use your coin for any money laundering activity then your information can be traced easily through your crypto account. So, it is legal and you can trade bitcoin without any hesitation.
Advantages of investing in bitcoin:
- Anonymity is one of the great advantages of investing in bitcoin because it cannot be monitored or controlled by any central bank or government. For example, you need to share your bank details with a third-party service provider to transfer funds, and they can use your financial information further. Even, your bank account can be hacked by third-party services. In the case of bitcoin investment, you do not need to use your bank account and you can use your digital wallet to trade this crypto.
- You can save transaction fees and intermediatory charges by using your BTC for fund transfers. For example, you need to pay a hefty transaction fee to make an international transaction and it will take a few days to complete the overall transaction process. You can use your BTC to transfer funds and it will be credited to the receiver’s account within a few minutes, and you do not need to pay a hefty transaction fee for the same.
- You can trade bitcoin to earn a sizable profit and you can use it as an asset. Bitcoin has generated a huge profit during the pandemic while the world has gone through the economic recession. So, if you hold your coins for a longer period and use the right trading strategy then you can earn a huge profit. It is similar to stocks, and you need to buy BTC at less price and sell your coins when it reaches the highest value.
- You cannot trade stocks at weekends and national holidays because the stock market is open during official hours only. But you can trade bitcoin 24×7, from anywhere. Crypto exchanges are open 24×7 and you just need an internet connection to buy and sell your coins.
- Apart from that, now you can use your coins for buying goods and services, as major businesses accept bitcoin as a valid payment mode. You can simply scan their QR code at their retain shop with your digital wallet to make the payment or you can buy their goods and service online with BTC.
Finally, if you are planning to invest in Bitcoins, note that they are available in a limited number and it is hard to find out this coin in the market. Supply and demand of this coin can increase or decrease the value of bitcoin, and you can lose your funds overnight due to the high volatility of this market.
It has been seen from the inception of this crypto that BTC has fluctuated several times in a day, and many people have lost their funds. For example, investors made their investment in bitcoin at the beginning of 2017 with a value of $1000 per coin has gained a huge profit at the end of the same year, as the price of bitcoin touched $6,400 in the November of 2017. But investors faced a huge loss in December of 2017, as the price of bitcoin dropped to a huge level. Keeping that in mind, you, as a crypto investor, must gain the required knowledge and step into the field of crypto trading at British Bitcoin Profit.