There are quite a bit of talk going around about investing in the future of Bitcoin and how the Bitcoin rate may rise sky-high over the next few years. While there is much truth to the hype, investing in this form of currency doesn’t make much sense simply because the supply is not unlimited. And, even if it was, would you really make money?
What about those who say they will invest in the future because someday, either Litecoin or Bitcoin will be a standard form of money? Well, let’s be realistic here. It’s hard to say if either will be accepted everywhere. It’s equally hard to say if either will have anywhere near the staying power that the traditional dollar has right now. But there are several things about these other virtual currencies that you should keep in mind, such as their pros and cons.
The Future of Bitcoin
There is one thing that Litecoin and / or bitcoins have in common that the United States government has yet to figure out: privacy. Although it hasn’t hurt them to have an open-lip style public face, they have been reluctant to reveal any information regarding the inner workings of their trading platform. For this reason, many people aren’t comfortable with using a trading platform based on something they don’t know and can’t control. The US government will most likely find a way to keep these factors a secret.
Now, let’s talk about what some consider to be the major benefits of investing in the future of bitcoins and litecoins. First, you have to consider the fact that Litecoin and bitcoin are both digital currencies that track the US dollar and the Euro. These two are the more “online” currencies, meaning they have the advantage of not having to deal with the problems that come with a traditional “real world” currency. For instance, with conventional trading, if something happened to go down in one currency, the others would be affected too. With these two digital currencies, however, because they are managed differently, you can invest and make money even when there is a dip in one of the currencies.
This is great news for anybody who wants to get into the world of investing, but doesn’t have a lot of money to invest in the traditional stock market. When you buy bitcoin, you’re buying one of the few truly global currencies out there, which gives you many advantages over traditional investments. By opening an account with one of the top five digital wallets, you’re essentially getting yourself a credit card. But instead of putting your credit card number on the line, which means you might not get the full amount back (since there is no exchange rate), you are instead putting your money on a secure and dependable line of credit.
Benefits of Bitcoins
You can use your GDAX account to buy and sell any of the currencies listed on the virtual exchange, just like you would with your standard bank account. That means you can keep all your money in your own pocket for your personal needs, whether it is paying for dinner out or buying groceries. Even if you want to do just a little bit of research online, you can pay with your standard bank account, since those virtual currencies never need to be printed. All you need is your smart phone, internet connection, and a bit of patience.
Many people who are attracted to investing in the virtual world are leery of how easy it is to lose money on these types of investments. This is because the great majority of people who trade using a traditional bank account are using professionals who know exactly how to analyze the market and make trades with extreme confidence. There is very little room for error, which is why the professional traders have such a strong edge over amateurs. However, with the use of a high quality GDAX coinage trading platform – like those provided by HandyDeck – you can significantly reduce the risk of losing your money while still being able to earn a good return on your trades. With the Coinbase IPO on the horizon, Coinbase shares will soon be ready to enter the stock market
Another advantage to using GDAX platform to trade with the major cryptosystems is the fact that it allows you to withdraw your earnings immediately. With most of the lesser known currencies out there, this is not possible, which is why using the popular GDAX trading bots can allow you to receive your earnings faster than you could from a regular traditional trading account. All you need to do is open an account with HandyDeck and download their trading bot software. Once you get started, you will begin making trades like you would with any other investment style. The best thing about these types of trading bots is that they are designed to make the analysis very easy, so you don’t have to worry about understanding technical indicators – all you have to do is follow the suggested instructions and let the robot do the rest.