IF YOU BOUGHT $5 OF BITCOIN 7 YEARS AGO,YOU’D HAVE $4.4 MILLION TODAY
Monday marked the seventh anniversary of what is said to be the first recorded instance of Bitcoins being used in a real-world transaction. Over the course of seven years, Bitcoin’s value has multiplied 879,999 times. If an investor had decided to spend five dollars on about 2,000 Bitcoins back then, that stake would be worth $4.4 million today. With $1,200 spent on some 480,000 Bitcoins, the investor would be worth at least $1.1 billion today.
At first, Bitcoin didn’t really catch on, and it was solely the domain of the early adopters. There were very few businesses which accepted Bitcoin as a payment method, and it was something which was almost frowned upon by most governments. As more and more businesses and governments accepted Bitcoin, it gradually went up in value, more and more people were starting to embrace the idea of a decentralized currency, and as more people jumped on board, the price began to rise. At the beginning of 2017, the value of Bitcoin spiked after gaining legitimacy in countries like Japan.
The main advantage of Bitcoin is that it is decentralized – meaning, there’s no central bank or government which controls it. This freedom is the main reason why Investors have come to see the currency as something of a safe-haven-asset in a problematic geopolitical world — and there’s been plenty of that in recent months in Europe, Russia, Brazil and the United States. There is also an additional advantage in Bitcoin – there is a mathematical limitation to the number of Bitcoins that can be created, which means – no printing money, so the rules of economy work perfectly. Where there is a limited supply of something, and the demand goes up, the price goes up along with it.
The Argentinian-born Simons has founded an internet service provider, a video game company, and a bank, plus he sits on the board of PayPal, but it’s Bitcoin that Simons says he’s dedicating the rest of his life to, and he now runs a startup called Xapo that stores Bitcoin. At a dinner organized by the cryptocurrency policy group Coin Center in New York last night, Simons delivered the keynote speech, including some advice about how to get into Bitcoin.
The formula, according to Simons? Take 1% or less of what you own, buy Bitcoin with it, and then forget about it for at least the next five years; ideally the next decade. “You either lose one percent of your net worth, which most people can take, or you make millions.” he told a room of cryptocurrency advocates at the Westin in Times Square.
Simons estimates the odds of Bitcoin failing completely and going to zero dollars at 20%. “If it fails, it will be worthless,” he says. “If it succeeds, in five to seven years a single Bitcoin will be worth more than a million dollars.” He puts the chances of success at greater than 50%. But even if one Bitcoin being worth a million dollars sounds like a far-fetched scenario, at the price it is at the day of writing this article (around $1200), even $5,000 worth for one Bitcoin could make a lot of Bitcoin investors a huge return. .
Simons has an interesting reply for those people who believe they have already “missed out” on the Bitcoin train and are afraid that they are joining too late. He said he’s seen peoplewho bought Bitcoin at high prices just a month ago have done “spectacularly well” by simply buying and holding. who bought Bitcoin at cheap prices—as low as $13 who lost money because they tried to trade their way to profits, while those high prices just a month ago have done “spectacularly well” by simply buying and holding.
If you think you’ve already missed out on Bitcoin, there is a new crypto-currency just slightly below Bitcoin in terms of volume and also much more secure than people think called “Ethereum”. In the last 6 months, it went up more than 5000% in value. Its price grew from $7 at the beginning of 2017 to over $450 in June 2017, and it’s not just plain luck. If Bitcoin is ruling the consumer world – Ethereum caught the attention of the corporate world, with companies such as Microsoft, Toyota, Intel, J.P Morgan as well as many others as official members of the EEA (Ethereum Enterprise Alliance). This acceptance by the corporate world gives a lot of legitimacy to Ethereum, and many people choose to invest both in Bitcoin and Ethereum in case only one of these cryptocurrencies rises in value.
With all the latest coverage in the news about the rise of the Cryptocurrency market, specifically Bitcoin and Ethereum being featured in the main headlines, you might want to be part of it as well. If you’re not quite sure where to start, keep reading. Everything you need to know to get started is right here. Crypto currencies, unlike what most people think, are not only bought by tech-savvy people who use words like “Mining” and “digital wallets”. Regular people with basic computer knowledge are also getting involved too.
We found a platform which makes it easy and safe for anyone to invest in Bitcoin, Ethereum, and many other crypto currencies. But not only that, it also allows you to join a community of other crypto-traders in active discussion, see the investments they make and exchange ideas. So, if you haven’t yet invested in Bitcoin or Ethereum, here is an easy guide on how you can get started in just a few steps:
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How to invest in Bitcoin – step by step guide:
Click this link to register a free account with CryptoSoft
CryptoSoft is a reliable platform and a brand you can trust. There are endless reviews about CryptoSoft worldwide, and people are very happy with their services. It is much safer to buy Bitcoins with a regulated brand like CryptoSoft than any other service.
Make the minimum deposit of £ 250 or more, depending on the amount you wish to invest.
Once you’ve made your deposit, click the “CFD” button like the arrow shows below, a search bar will open, simply search for the word “Bitcoin,” and select it.
Now that you have come to the “Bitcoin” screen, put the amount you wish to invest in the Stop Loss / Investment field (marked with a red arrow), this is the amount you will invest in Bitcoin. Set the “Take Profit” field to the amount of profit you want to make, assuming the Bitcoin price rises as expected, for example, in the image below we invested €500, and as soon as the Bitcoin we’ve bought is worth €150,000 – we will sell it back for cash. But of course, feel free to set it according to your own personal financial goals.
Click the “Apply” button, and you’re done.
You are now part of the Bitcoin community. If the price of the cryptocurrencies you have invested in rises – you can withdraw your money from CryptoSoft as cash… whenever you want. Think about this – the most you can lose in the deal above is your initial deposit, but if you invest in Bitcoin for example, the profit you can make can be as high as $200,000 if the value of Bitcoin rises as expected. As an example, if you were to buy Bitcoin 6 years ago, your $250 investment would now be worth over $2,000,000. So how much will you have this time next year?