People usually enter the wide world of cryptocurrencies after having learned about Bitcoin. The digital currency has a range of appeals which cater to all kinds of tastes. For a start, the cryptocurrency is decentralised, which means that no institution or entity can control it. Secondly, this derives from the previous point, it is universal. Bitcoin used in the UK will be the same as the one used in the US or Japan, or South Africa. There are no borders for this type of money. It exists online and is ubiquitous as the Internet itself. Thirdly, an advantage of Bitcoin is that it doesn’t require high fees, as there is no third party to monitor its circulation.
One way to obtain Bitcoin is to buy it, either as an investment or a tradable asset. Another side to this will be how to cash Bitcoins, but it will be covered in the current article later.
There is a frequent query on the web, “how to invest in Bitcoin stock” – and we are here to clear some information. First of all, the category ‘stock’ cannot be applied to Bitcoin. It may be rather called a commodity, but above all, Bitcoin is a currency. There is no consensus in the world as to how to define cryptocurrencies, and every country has its own legislation (or doesn’t have any) regarding it. While some national governments negatively deem crypto ‘surrogate money’, other equal it to a financial asset which, just like cash or any other foreign money, can be traded and/or converted into national currency.
Although Bitcoin is not a stock, it can be viewed as a commodity or a security, and it can also serve as an investment. “How do I invest in Bitcoin?” you might ask, and it would be a fair question. The first thing to do would be to obtain some crypto and either hold it hoping for its price to rise, or trade it while aiming at multiplying their financial means.
(Via CX IO)
Richelle Sibolboro 