Bitcoin Investment: How Safe Is It? - Sourajit Saha

Monday, 12 June 2017

Bitcoin Investment: How Safe Is It?

​Am I the only one too much obsessed about bitcoin? Today bitcoin has crossed $3000 milestone, and its price is roaring continuously. I just found an article on the web; a Norwegian investor sells all of his stocks to buy bitcoin. The investor's name is Kristoffer Hansen, and he is a well-known investor. It's really quite interesting when people is showing more interest in cryptocurrency than traditional investment. Rather than keeping some portion in stock investment, Kristoffer Hansen sells all of his stocks to buy bitcoin. A Bengaluru-based investor named Ashrith Govind started investing Rs 5000 per month since 2014, and now he invests 30000 per month. It seems interesting to me that I started my web journey as a programmer, then blogger, and now I am an investor also. Investing is not about that, I have a lot of money and let's buy some stocks. It's all about study the market, understand it, predict it, and learn as much as you can. 
Bitcoin Investment
Before buying bitcoin, I read a lot from Google. I have read about some desperate people also. One of them is Gingerbreadfutters, who borrows $325000 to buy bitcoin. He stated, “I decided to make my newest lounge, using what equity I have accrued on my estate over the past ten years since the 2008 financial crisis. If Bitcoin reaches the 10k mark— which I see as a distinct possibility, or I would not have taken such a risk— I plan on moving to the West Coast and getting away from all the angry people here where I currently reside.”

I would say it's a huge and risky decision. I am not that much desperate. At the very first, I decided to buy two bitcoins but honestly speaking, I could not afford that amount, so then I reduced it to 1.3 bitcoins. Now all my bitcoins have been saved in a paper wallet at least for 4-5 years. The market is not 100 percent predictable. But as per some experienced investor, I hope it is not such a wrong decision. You can also take a look at what Snapchat's first investor predicts about bitcoin. Daniel Masters, the chairman of XBT provider says, bitcoin may hit $4000 at the end of the year(2017). I found the article on CNBC.

After reading all these articles, I think we should keep at least one bitcoin to us. If their prediction is successful, then you may able to take a coffee from Starbucks every day. Bitcoin's market may be volatile, but it's full of possibility. So don't think again and go for it. People who already owns some bitcoin, I will suggest you not to keep them in a software wallet. It's better to keep them at least in a paper wallet. I use bitaddress.org for this purpose and if you need to take your cash off from your paper wallet then go through this article. One important question why bitcoin price is so rising? There are many issues behind it. The main reason is Japan has given bitcoin a green signal as a currency. The more important bitcoin will become, the value will increase more. And it's like a trend now among marketers to buy bitcoin as many people consider it life changing thing. I would say not to depend so much on bitcoin, rather than start saving also in your bank account and hold the bitcoin up to 4-5 years at least. It bitcoin's price increases, then it's your profit, if not, then forget the loss, and try something different. should I buy bitcoin and I'm from India. Well, as you know bitcoin is a decentralized payment method of money just like Internet is a decentralized network of information and media. And just look, how much we use the internet today rather than books. So we are going into a digital way, and you know our prime minister Narendra Modi is keenly interested on digitalization in all financial related things. He continuously shows interest and asks us to move towards digitalization. From that angle, I can say it's not impossible if Modi gives green signal to Bitcoin within next three years. Bitcoin is neither illegal nor legal in India. But it is expected that we are going to get positive response from our government.

I'm looking for some exciting life for writing my blog. Any travel spot, any interesting place, any festival like sunburn. I posted some pictures of my last sunburn experience on my blog if you need to find that just search writing "Sunburn" in the search box, and you will get that. Honestly speaking, I don't think this blog as a money making machine. Rather I want to turn it into my diary and want to share all my experience from all the field I have touched like programming, web developing, blogging and now investing also. I have no other plan apart from it right now. But I start anything new; I will definitely share my story and experience here. One more advice to new bloggers who wanted to register a domain of their names. Don't share only of your own stories or own thoughts. Because nobody is interested to read about your story unless you are a famous person. So instead of that, start sharing tips and tricks which can help people. Then people will start showing interest in you and will be interested to know your story. Well, no more today. If you have any doubt or question, feel free to contact me here. Just do drop a comment below. If you really really like this post, then please do share it with your friends via social networks like Google Plus, Twitter, Facebook, LinkedIn, StumbleUpon etc. if you want to get all the latest updates of this blog, you can like my Facebook page, follow on Twitter or subscribe my blog feed. Take care. Have a beautiful day.

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Hi, I’m Sourajit Saha, An Online Marketer From Kolkata, India. I Have Been Blogging Since Last Quarter Of 2010. I Started Blogging As A Hobby, And Soon It Turned Into Passion And Later Profession. Click Here To Know More About Me!

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