It’s never too late to purchase your first bitcoin. And you can always remember the adage that says, the best time to get into bitcoin was eight years ago and the next best time is today.
If that’s the case, you may be wondering on, why you should purchase your first bitcoin.
People buy bitcoin for various reasons. Some buy bitcoin for investment purposes. Others buy believing that the price will go up, and they can sell them for more than they bought them. This could be based on them thinking that “Bitcoins are awesome so the price will rise” or “there’s always a greater fool, willing to pay more than I am.”
People also buy bitcoin to facilitate private online purchases, others use crypto as a sort of savings account, and others as a hedge against inflation that is devaluing their national currency.
Another reason to buy bitcoin is because it is easy. Bitcoin transactions are subject to few regulatory oversights, which makes transactions fast and headache-free.
Moreover, because of It’s low-cost, you should consider purchasing your first bitcoin. Bitcoin exchange fees are minimal — usually on the order of 0.2% of the value of a transaction. By comparison, U.S. banks usually charge about 3% in fees when you use a credit card to buy something in foreign currency. If you want to speculate on currency, Bitcoin offers a cost-efficient way to do it.
On our next article, we’ll discuss more about bitcoin and other cryptos.