Ask Experts » Finance and Investments » Investments »

Investment with Bitcoin is really profitable?

Date: 28 Jun 2016   Posted By: Christopher Milller     Group: Finance and Investments    Category: Investments   

Now a days,cryptocurrency become very popular in investment programs. Importantly Bitcoin is the very famous and rapidly growing crypto currency. At present it's price is above 600$ and it is growing very rapidly. Can any one clarify me if it is really long lasting and profitable investment?

Author: Mahesh    29 Jun 2016      Member Level: Gold     Points : 3  (Rs 3)    Voting Score: 0

Bitcoin is crypto currency. it is not being accepted in the government around the world. So the investment here is in grey region. So in such case you have to understand that if you try to hold some bitcoins, then you're likely to loss issues too. It all depends on the amount of demand for the bitcoin from the market. If there is not much demand then it's not worth investing.

There are some of the online and offline shops in US and India that accept the bitcoin. However you have to check the fluctuation. Also when you're exchanging the Bitcoin for local money, you have to understand if the money being sent from both party in monitored platform. often the investment goes down when the other party does not pay.

So my suggestion to you is that only invest into bitcoin if you find it affordable to lose. Currently the pound is going down so the bitcoin can be purchased and later when pound gets stronger you can sell the bitcoin for pounds to convert into INR.

Post Answer

You must Sign In to post a response.

Post Answer        

Related Questions
  • Return to Question Index
  • Ask Question to Experts

  • Awards & Gifts
    Top Contributors
    TodayLast 7 Daysmore...

    Online Members

    ISC Technologies, Kochi - India. © All Rights Reserved.