Want to invest in bitcoin? Is It Too Late to Start Investing in Bitcoins and other CryptoCurrencies?
Since its launch, in past one decade bitcoin has become one of the most important phenomenon in the digital world. Its price has touched thousands of dollars. (see here Bitcoin Live Price)
Bitcoin is buzzing all around news and media, and might seem to be the future of finances, so it is a smart decision to start investing in it.
IQoption (Website/Review) is yet to comment on its stance on accepting cryptocurrencies (CFD) as a deposit method, probably due to the anonymity aspect, but as of now it has created a new and easy way to invest in it.
cryptocurrencies (CFD)quoted against the US dollar, in case of IQOption – you can trade in the currency of your account.
Basically, you’re opening a position that will increase in value as the cryptocurrencies (CFD) of your choice enhances its price, but will lose a part of your investment if a sudden price drop happens.
It is a smart and user friendly way to easily invest in many of the most famous and promising crypto coins, with a chance to liquidate your assets in an instant.
Let’s see how you can trade cryptocurrencies (CFD) on the IQ Option platform.
1) First off, you’re going to need to open the platform.
2) Then, proceed with clicking the assets.
3) Almost done, simply click “Crypto” and choose one of the desired currencies.
4) Don’t forget to use a wide range of technical indicators for analyzing the chart and making precise investments.
And last, but not least – always practice your trading patterns using a demo account, before investing. Once you think you are ready – you can invest by clicking the “Deposit” button.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
5) To invest in 6 most famous crypto representatives you can to input the amount you want and click “Buy”.
While the whole world learns about cryptocurrencies you can improve your trading experience
Oh, and don’t forget that you can liquidate your Zcash, Bitcoin or Ethereum in an instant by simply clicking the “Close” button anytime you’d want to cash out.
Blockchain based assets are quite remarkable asset and they have made news a lot, during their life course.
Let’s take Bitcoin as example.
Over the years, Bitcoin has gone through a hard road, experienced insane jumps and similar sharp drops, started at $ 0.003 for a single.
It’s fun to remember, the first recorded purchase made with Bitcoin was made for buying pizza worth $25 in 2009.
To do so, 10,000 bitcoins were spent. If the pizza salesman has kept his bitcoins for 8 years, that pizza would have earned him a staggering 27,000,000 dollars.
Bitcoin asset is one of the most volatile assets out there and here are couple of reasons why.
Basically, Bitcoin cost is very much based on the perceived value of the cryptocurrency.
Perceived value is a price that the customer thinks a thing costs, to put it in other words – a desirability of an asset.
Here is a simple example – not only Apple makes products of the highest quality, but everyone wants their products, which affects the price of a product greatly.
But Bitcoin is a very peculiar asset and has properties that are similar to gold, as well as to the fiat currencies, that don’t have intrinsic value.So on one hand, you can literally “mine” Bitcoin, which furthers the gold comparison, and there is a literal cap on the total amount of produced Bitcoin – 21 000 000. There are about 17 000 000 mined Bitcoins at the moment.
At the other hand – Bitcoin has no real value, no physical commodity, backing it’s price.
Other important thing is that large sums of Bitcoin are allocated among very few people and it is unclear how they can liquidate such a huge amount of Bitcoin without a risk of moving the market.
As you can see, even though Blockchain and cryptocurrencies are without the doubt a future and the technology of smart contracts will change the world, it is still in a very early stage, which makes the currency be severely affected by the news.
For example, as a recent fake news about the creator of cryptocurrency Ethereum, Vitalik Buterin, coincided with the overall market value of Ethereum falling by around $4 billion.
However Ethereum is back on track, working it’s way back to it’s previous evaluation, since Ethereum might be even more ground-breaking than Bitcoin, since it is not only a cryptocurrency, but also a blockchain based smart contract platform.
Vitalik has recently said in an interview, that smart contracts will change the world, just like Internet did.
Well, if we take a look at the charts, i would start to believe him.
Because as of March 2017 it costed approximately 20 USD, and by June of that same year it already costed 390 USD, which makes up to 2000% increase over the course of 4 months.
We can a ll speculate if Bitcoin or other cryptocurrencies are in bubble now, but it’s hand to deny that they are becoming mainstream.
The more we hear about them on the news, the more people learn about them, all of that increases the desired value of them, so we are almost positive, that we will see even more record-setting spikes in the future.
People are already going crazy over “mining’. That is literally extracting Bitcoin by using the computing power of your PC.
On the wave of the first successes, many tried to beat the bitcoin on the most common PCs, the savvier started building “farms” out of powerful game graphics cards, because the GPU (graphics processing unit) turns out to be much more productive than the CPU (central processing unit). Such farms consume a lot of electricity, but with proper assembly, there is possibility that they pay off. It has become a source of passive income for a lot of people, especially if we take the constant growth of the cryptocurrency into account.
There is an unprecedented deficit in the graphics cards happening right now in Europe, China and Russia, triggered by the second “gold rush” and the general hype around bitcoins.
Video cards are swept off the shelves by the miners in a second, and as a result, in some regions, the price of components has more than doubled.
IQ Option gives you the way to invest in 12 most popular cryptocurrencies.
At this point you almost can’t argue that this technology is yet to shine and just like any groundbreaking know-how it needs time to be figured out and being implemented.
If things go the same way, cryptocurrencies will may earn more interest than banks.
General Risk Warning: 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money