Bitcoin (BTC) has become increasingly popular, but if you feel uncomfortable investing in it, you’re not alone. With terms like bear market, HODL, and Day Trading constantly being thrown around, investing can feel intimidating. With its prices reaching all-time highs in the past few years, it could even feel like it’s too late to dive into BTC.
While it might feel like you’re behind, the truth is: you’re right on time. There’s no better time than the present to start investing. So if you’re feeling doubtful about crypto, we’ll break down why it’s not too late to invest and how you can get started.
Why it’s not too late to invest
If we’ve learned anything over the past few years, it’s that BTC is only just starting to grow to its full potential. After years of people shaking their heads at decentralized currency, governments and investors are finally starting to pay attention.
Countries are beginning to love crypto
The list of countries where BTC is accepted as a usable form of currency is expanding. Right now, African and Asian countries are leading the pack towards crypto adoption. Nigeria, Singapore, and Japan are some of the leading nations that have welcomed cryptocurrency with open arms, with the United States and other European nations looking into it as well. Recently, United States SEC Chairman Gary Gensler told the European Parliament that crypto could have an impact as wide as the internet.
Investors and companies who love crypto
Governments are not the only ones to invest their energy in crypto. Major investors, like the famous Winklevoss Twins, are all-in as well. Here’s a list of well-known investors and companies that have taken to the crypto market.
- Cameron and Tyler Winklevoss: The Winklevoss Twins were known for their college investment in Facebook, but they’ve since moved more towards the fintech industry and crypto funding. The brothers own about 1% of all BTC in current circulation and are even the founders of a popular crypto exchange.
- Tesla: Tesla, the popular electric vehicle manufacturing company owned by Elon Musk, owns about 42,902 BTC—which, at the time of writing, is equivalent to over 2.6 billion USD. With the big moves it has made on the crypto market in the past and with how much crypto it currently owns, Tesla has firmly presented itself as a believer of the industry.
- Barry Silbert: Silbert is the founder of Digital Currency Group, a venture capital that aims to build a global financial system and drive global economic and social change. It invested in over 125 crypto-based companies to prove it. They create and support companies that focus on Bitcoin and blockchain technologies. Silbert also owns a BTC trust whose market capitalization is worth over 26 billion USD.
- Dan Morehead: Similar to Silbert, Morehead is a founder of a massive asset managing company, Pantera Capital. It’s the first investment firm to focus solely on cryptos, making 38 major investments into Bitcoin-centered companies—investments that eventually paid off. It’s reported that Pantera Capital’s Bitcoin fund earned a 24,000% return for investors.
If influential people and companies like these believe in crypto, it might be a sign that things are changing for the better and just because these people got in on the action first doesn’t mean that it’s too late for you.
Crypto is for everyone
As an everyday BTC investor, you’d have a lot of opportunities too. You don’t need to be a major venture capitalist to see how applicable crypto is around the world. After all, crypto is starting to develop its real-use cases.
From local merchants to major movie theaters (like AMC), more people are accepting Bitcoin as an exchange for services and goods. With BTC, there are so many possibilities besides using it as a payment method. This includes cheaper remittances, wealth preservation, and the decentralization of financial systems.
Things are just getting started as more people are understanding Bitcoin’s potential. Some people may think the crypto boom is on the way out, but it seems that crypto adoption is growing steadily upwards, which means it’s really not too late to start.
Tips for buying Bitcoin:
To start your crypto journey, you’ll need to buy Bitcoin. There are many techniques you can use when buying. Here are some tips to help you get started:
- Buy low, sell high: Like with anything, you want to buy Bitcoin at a low price. It’s recommended you hold on to it then sell it once it reaches a higher price. This will help you gain the most out of your coins.
- Avoid FOMO: FOMO is an acronym for fear of missing out. When Bitcoin investors worry they may be missing out on a great deal, they panic and start buying coins even if it’s at an outrageously high price. This is often an emotional response and can lead to investing problems. We recommend avoiding emotional reactions to the market and recognize FOMO before you start investing.
- Avoid FUD: FUD is short for fear, uncertainty, and doubt. It’s a way for non-Bitcoin enthusiasts (known as FUDsters) to influence the Bitcoin market. They do this by spreading FUD and disrupting Bitcoin’s momentum. It’s unclear whether FUDsters spread fear purposefully but regardless, try to stay away from emotional impulses when it comes to investing.
- Do your research: To avoid FOMO and FUD, it’s essential that you do your research on Bitcoin before you start buying. This will help you stay in the loop and ensure you can back up your investments.
- Be diligent: It’s also important to be thorough when buying crypto. If you’re trading on a peer-to-peer (P2P) exchange, make sure you read all the trading terms and vendor reviews. No matter where you buy your crypto, always check out the company, the fees, and the overall price you’ll be paying.
Of course, even if you’re the most careful buyer out there, there will always be risks involved. The best you can do is stay informed about Bitcoin and not make any decisions based on emotion. To lessen risks, you should read more tips for buying cryptocurrency.
Bitcoin is growing
Over the years, BTC has become more than just an investment tool. It’s become a solid form of currency for many worldwide. From smaller international merchants to large corporations like AMC, BTC has the potential to be used every day. Whether you want to use BTC for investing, building a business, or simple transactions, it’s not too late to start your Bitcoin journey.
*The content of this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. You should carry out your own independent verification of facts and data and may want to seek professional advice before making any decisions.