When it comes to investing in cryptocurrency, I am a long-termer. That is, I believe in buying and holding what I believe are solid cryptocurrencies.
If one does not invest in any of the more than 5400 cryptocurrencies, Bitcoin – in my opinion – should be a cryptocurrency everyone should own; whether it is a whole Bitcoin or a fraction of a Bitcoin.
I have several thousands of dollars invested in Bitcoin. I do nothing with it but just hold it. I believe the price of Bitcoin one day in the future will reach six-digit figures.
As of this writing, Bitcoin sits around $9700. It could decrease from this point. It could continue to up. I do not fret the ups and downs. I look at what the price could be in years ahead.
If all one can afford is $10, $50, $100, $500, $1000 worth of Bitcoin, they should. I recommend buying some and forget about it. One could take a little bit out of each paycheck and build up their Bitcoin. Assess your budget and determine what you could reasonably set aside each month to invest in Bitcoin and do it. Do not be tempted to cash out your Bitcoin when you see bearish activity in the marketplace. Likewise, do not be tempted to cash out when you see bullish activity in the marketplace. Think long-term. What is long-term? In my view, five, ten, fifteen, or more years ahead … or in the event Bitcoin surges to a six-digit figure. If it does, you should take some profit by selling some of it, but keeping some as well.
Anyone can buy and hold Bitcoin. It is very easy. The easiest way is via Coinbase.
You can even have Coinbase automatically deduct from your debit, credit, or bank account a certain amount bi-weekly or monthly to purchase Bitcoin for you and added it to your Bitcoin wallet.
A retired Information Technology Specialist and Foreign Service Officer with a large U.S. Government Federal Agency, Technical Instructor, Blogger, WordPress Instructor, Web Designer, Internet Marketer and Cryptocurrency Investor and Mentor.