With all manner of speculations and news on bitcoins, most investors are often left wondering whether to invest in cryptocurrency or not. Should you invest in bitcoins in 2018? Today, a bitcoin retails at three times the price of an ounce of Gold. Also, the bitcoin price is quite volatile and has suffered multiple crashes in recent years. The good thing about bitcoins is that they always bounce back. That said, here are some reasons bitcoins makes a decent investment choice.
The Cashless Trend
From the look of things, cashless transactions are increasingly becoming more appealing than paper transactions. This is evidenced by the rise of mobile payments and a host of other digital payment solutions like PayPal. With this in mind, cryptocurrencies like bitcoin have caught the attention of investors across the world, thus increasing its demand. The good thing about bitcoins is that they double up as a currency and an investment.
One of the significant reason Bitcoins are a force to reckon with is that their demand is ever high with major economies like China, Japan, and the US experiencing the highest demand. The weakening of local currencies or instability is also believed to be a key driver behind the increased demands from some middle-income countries. The more the demand continues to increase, the more its value will increase.
When it was first launched, economists and governments were very skeptical about its value and acceptance due to its decentralized nature. Things have since changed, and policymakers are willing to use it as a way of improving the lives of their citizens. The ever-increasing official acceptance will undoubtedly continue pushing bitcoin prices higher.
In the past, bitcoin was associated with fraudulent activities. For that reason, it was associated with criminal dealing, which affected its value in a way. Bitcoin has been able to withstand the tests of time, and it is now viewed with no bias. This change of image and increasing acceptance have since this currency stabilize and reach new heights.
There are a host of other reason investors should invest in bitcoins this year. If you need to buy bitcoins this year, you need to do it in a way that will not get you scammed. If you are looking for a fast and realizable way of completing bitcoin transactions, see more about LocalBitcoins. If you aren’t careful with how you transact, especially with some unknown dealer, you might pay dearly.