If you’re seriously considering investing in Bitcoin but are uncertain about the future of digital currencies such as Bitcoin, continue reading to discover why you can’t go wrong when you invest in Bitcoin.
Bitcoin Investment: Why you can’t go wrong investing in Bitcoin
1. You can take advantage of various tax breaks by starting a Bitcoin IRA account
Did you know that it’s possible to purchase Bitcoin, without having to pay tax on your purchase? If you’re interested in purchasing Bitcoin in order to save for your retirement, you may be interested in opening an IRA retirement account, which will allow you to purchase and store Bitcoin, which you can purchase tax-free. The only drawback is that you will be liable to pay tax on any profits which you make when it comes time to withdraw funds from your Bitcoin IRA account.
2. In the past Bitcoin offered an unbeatable return on investment
If you had the foresight to invest $100 in Bitcoin in 2010 and were brave enough to keep all of your Bitcoins without being tempted to sell some of your Bitcoins, your Bitcoins would now be worth a staggering $75 million dollars. Which is enough money to set you and all of your immediate family members up for life.
However, while it may be too late to earn $75 million dollars by becoming one of the first investors to back Bitcoin, Bitcoin is nowhere near reaching its peak and it’s still possible to make an incredible return on your Bitcoin investment. After all, whilst most investments make their investors a small return of 5-20%, in the past year countless Bitcoin investors have made a return on investment of over 50%. So if you’re looking to set yourself up for a comfortable life, it’s well worth finding out more information about Bitcoin investment. An investment, which has a proven track record!
3. Bitcoin’s popularity is likely to continue to soar as cryptocurrencies continue to rise in popularity
In today’s technology-obsessed society, individuals are becoming more unwilling to have their assets controlled and monitored by large financial corporations and governments. As a result, digital currencies such as Bitcoin are expected to continue soaring in price, over the next 1-2 years. After all, not only has Bitcoin achieved unprecedented success in the past couple of years but a wide variety of copycat digital currencies have achieved great success on the stock market. Examples of which include Ethereum, Litecoin, and Dash. If you’re concerned about the longevity of digital currencies, you may be surprised to learn that Litecoin was launched in 2011 and that Ethereum was launched back in 2015. So you don’t have to be concerned about cryptocurrencies being a fly by night trend as cryptocurrencies are definitely here to stay!
So if you’re tempted to invest in Bitcoin, you simply can’t go wrong choosing to invest in Bitcoin as whilst investing in Bitcoin is still a risk, Bitcoin is one of the safer investments which you can purchase on a forex website or through an experienced forex broker.