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Why I will NEVER buy Bitcoins to Hold
At this time of writing, bitcoin is around $8000 per coin. Predictions are that the value will keep going up and many experts suggest it shall get to $10,000, $100.000 and even $1 million per coin.
Bitcoin did not just start up with a value of $8000 per copin. It did take some years for the value to grow from a couple of cents to $8000 per coin.
How long it will take for the value of bitcoin to reach $10.000 is foreseeable, but what about it reaching the $100.0000, $200.000 or the $1million mark? The timelines are very unpredictable, and that alone is the #1 reason, why I would not buy bitcoins to hold at this time, given what is possible nowadays.
I do not have $8000 now to buy a single bitcoin, and I guess many people too do not. Even, if I had the $8000 I would not still buy. You will understand why soon.
While I will disagree with many who claim it is late to invest in bitcoin, I will just not recommend to anyone to buy bitcoins at the present price with the sole purpose to hold onto them till they gain more value.
Instead, what I will recommend is that you EARN the bitcoins, and after earning them, you can then hold onto them. Earning bitcoins to hold onto them to grow in value is more profitable than buying them at this point, and the good news is that, there are many ways to earn bitcoins today for free. Today it is quite possible to grow your bitcoin or cryptoCurrency Portfolio without spending a dime, and this is how!
Though it is quite possible to EARN bitcoins today for free, if you really want to be a serious bitcoin investor and grow your bitcoins portfolio faster, you will need to combine the free option with putting in some money and work.
So, if I had $8000 today, instead of buying a single bitcoin to hold, I would spread it out and invest in multiple ICOs (initial Coin offerings).
ICOs is the greatest disruptive wealth re-distribution you will ever experience in your lifetime.
Though bitcoin remains the main, most powerful, most valued and stable dominant crypto currency, there are a vast number of other cryptocurrencies that address particular issues and solve known or emerging problems.
Acquiring some of these cryptocurrencies early, especially during the ICO period, will no doubt, most certainly put you in great profits, when the cryptocurrency or coin finally launch. Some cryptocurrencies double in their value immediately after launch, before settling at some value.
Even if you miss getting into an ICO early, you could still participate in such cryptocurrency, by buying them, when they get listed at the cryptocurrency/coin exchanges. Thy do trade for pennies initially, but as time goes on, they also increase in value.
I would not recommend you put $8000 in a single ICO. Instead, you spread the money out, putting only say $200 in each ICO or towards buying the coins at the Exchanges. By doing this, you can certainly multiply, triple or even quadruple $8000 many times a year within very short intervals.
This strategy will be more profitable short or long term, than is you put $80000 towards buying a single bitcoin and then waiting for years for its value to grow.
There are known documented case, where $100.000 has been generated from a mere $100 - $200 investment in ICOs.
There are many ways to profitably invest and grow any amount in cryptocurrencies. Some of these methods include investing into ICOs and also Trading the coins at the exchanges.
Some of the free methods of growing your bitcoin portfolio involves getting into the ICOs early, and then promoting those that have affiliate options to get more coins that can then be converted to the more established cryptocurrencies like bitcoin, Ethereum and Litecoin.
For some basic approaches on how to grow your cryptocurrency Portfolio even without investing a single Dime out of pocket, read this: http://icovirus.com/
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God luck and have fund
