I Took A Chance On Bitcoin And It Worked

jdarcio02 (23)in #investing • 7 years ago (edited)

I first saw bitcoin in April of 2017 when it was at $1,100 a coin, at the time I was very skeptical of the coin. I thought how could an intangible currency be worth of $1000 dollars. To my surprise the coin kept going up in value and I still didn't buy. Bitcoin finally hit around $3k a unit and I bought $550 worth at $3,200 a coin, I also bought 5 litecoins at $27.55 (Yes, I should have went bigger lol). I played it cool cause I still doubted these cryptocurrencies. As I started doing more research on Twitter, Google, and YouTube I started to understand what these coins were about. The bigger picture is a decentralized community of investors being their own bank and gaining their freedom. As I learned more I started invest more and trying new platforms to make more bitcoin.

Bitcoin Is More Than A Currency

Bitcoin is bigger than you or myself, it is a strong network of people coming together to take down corporate greed. A chance for us "little guys" to get a head start for once. I believe blockchain and bitcoin will be how corporations do business via blockchain and bitcoin is how we will make payments (cash and credit cards will still exist). Bitcoin offers faster transactions, a secure network, and a currency that will add us value in the long run.

Bitcoin Profits

I started with an $810 investment and I have turned that into $7600 in just 115 days. For me this has been an amazing return in such a short time. This isn't enough to retire on or quit my job, but this has been a great side hustle and a great opportunity in a few years by buying low and holding. I really started maximizing my money when I joined Bitconnect, this is a bitcoin lending platform that has helped me get more fiat money that I have turned and stored in bitcoin. I don't want to get off topic in my post but you can learn more about Bitconnect in the links below.

Bitcoin Risks

With every investment there is the possible risk of losing money. I always recommend to only invest the amount of money you can afford to lose. It's usually best to start with $100-$200 and then add more as you see fit (only if this is in your budget). Again there is risks involved and if bitcoin was to disappear you would lose this money (very unlikely, but always think worst case scenario before you invest in ANYTHING). I am my very happy with return on investment so far and I look forward to buying more. By the way I'm just getting started and so is bitcoin! ;)