5 Vital Tips to Consider when Investing in Bitcoin in South Africa
Cryptocurrency pundits claim that the best time to invest in bitcoin was a few years ago. But, did you know the next best time is now? That is right – when bitcoin was introduced a few years ago, the whole tech universe was taken by storm. And bitcoin continues to gain increased traction across the globe.
Are you thinking of investing in bitcoin in South Africa? Here are top reasons why you are dead right on the spot.
Why Invest in Bitcoin?
- Bitcoins are scarce – the value of bitcoins will continue to soar as their demand goes through the roof, returning great value for your investment.
- Bitcoins are Useful – Bitcoins were designed to be incredibly useful. They offer a predictable and sound monetary policy that can be verified anywhere and by everyone.
- You can trade bitcoins for about any currency in the world
- You can mind bitcoins – if you can get the best bitcoin mining hardware, you can quickly make oodles of cash.
For the new crop of investors, bitcoin is next big thing. Invest in bitcoin – the new era gold. Well, finding the right ways to buy bitcoin is no picnic. Herein, we’ll walk you through important tips to invest in bitcoin.
#1. Use whatever you’re willing to Lose to Buy Bitcoin
This is very important. Don’t invest more than you’re willing to lose. After all, investing in bitcoin is quite a risky business. Sure, it can return so much more money. But same goes for the other side of the coin.
#2. Stash Your Bitcoin in Your Own Personal Wallet
Many people have fallen prey to bitcoin scammers online. Once you invest in bitcoin, move it right away to your wallet. It’s recommended that you use a hardware wallet to do so. That is another good reason you need to buy the best bitcoin mining hardware.
#3. Buy Bitcoin from Exchanges with Good Reputation
Again, you should be careful not to be conned of your hard-earned cash by online scammers. Invest in bitcoin with exchanges have shown a clear track record of honesty and delivery. Don’t go for less – your investment is at stake.
#4. Buy Best Bitcoin Mining Hardware
Many people are mining bitcoin out there. It’s no easy task, either. But with essential training and best bitcoin mining hardware, you can do it without much hassle.
#5. Buy Bitcoin through Dollar Cost Averaging
Don’t invest in bitcoin all at once. Buy bitcoin in a fixed amount every day, week or month year-round.
AUTHOR: Bitcoin Mining Hardware