The five things you should keep in mind before investing in bitcoin

The bitcoin is triggered and reaches $ 7,361 dollars per unit; although it seems to give a good return it still has many detractors for th...


The bitcoin is triggered and reaches $ 7,361 dollars per unit; although it seems to give a good return it still has many detractors for the risky thing that is to invest in this cryptocurrency.
                                         
After having a stable job and getting a good savings, the best option is to work the money to get more income for the future and thus have a better quality of life. The options for investing are many, however whoever you choose, it is necessary to be well advised, this in order to be aware of how risky is the investment, how it works, how much profitability it can have, which are the external factors that make you do well or badly and to what extent you can put your money in order not to fail or end up bankrupt investing in cryptos.

Better said, you must be clear about what you are getting into and take responsibility for the risk you are going to acquire, so if you are going to get into a business that promises great returns in a short time, you'd better think twice, because you can be without money to enter a pyramid.

The good news is that according to a survey conducted by BlackRock about 4,000 people, 26% of respondents have considered investing at some point and 64% say they would be more confident in moving their money in cash to an investment if they gave it an endorsement that will have a guaranteed capital.

The survey indicates that Colombians definitely want to make their money to fulfill their dreams and expectations; the problem is really, what to do? To have a better chance of winning instead of losing large sums of money.

And this is why in this opportunity we are going to talk about bitcoin , but do not believe that we are going to invite you to invest or, on the contrary, we are going to tell you not to do it. In fact, although cryptocurrency was created eight years ago (2009), there is currently a debate about whether it should be regulated and accepted by the financial system in different countries, if it should be declared illegal because it has no support or if it simply should be kept alegal as a form of investment.

Supporting oneself on one of 'the two sides of the canoe' is very difficult, even more so when it has received so much acceptance among thousands of people and the governments of the world have not presented a clear regulation that indicates how to handle the issue.

What is certain is that there are already several companies in the world that receive this cryptocurrency as a means of payment, such as Microsoft, Dell, Steam, Overstock, Cheapair among others, and there is talk that Amazon will soon be joining them, According to El Economista magazine, this company has acquired three new domains that refer to digital currencies: amazonethereum.com, amanzoncryptocurrency.com and amanzoncryptocurrencies.com. According to El Economista de México, Amazon already has registered amazonbitcoin.com, the url that redirects to the home of the company.

On the other hand, detractors such as Jordan Belfort, the former stockbroker who lasted 22 months in prison for the frauds he committed, say that cryptocurrencies are "a gigantic scam that will explode at any time in the face of many people." However, this type of criticism seems to go unnoticed by people interested in investing these currencies.

And it is not for less, since the bitcoin is increasing more and more its quotation; in recent days for example it reached a record when it touched the $ 7,361 dollars, when just a month ago it was close to $ 4,300. The impulse of the cryptocurrency is due to the announcement made by the Mercantile Exchange of Chicago (CME) about generating future contracts (it is a contract or agreement that obligates the parties to buy or sell a certain number of goods or securities at a certain future date) about the digital currency.

Meanwhile in Colombia, those who have spoken out against this type of investment, such as the Bank of the Republic and the Financial Superintendency, have assured that "operations with virtual currencies are not covered by any type of private or state guarantee". 

The Superintendency has also reiterated on several occasions against the risks associated with the operations carried out with these currencies, since they are not considered as a currency in the country and therefore do not constitute a means of payment of legal tender.

In several of the circulars issued by the Superintendency, it is explained that the pseudo-anonymity, the difficulty in identifying the final beneficiaries, the lack of traceability and the lack of support from the central banks led the International Financial Action Group (FATF) ) and the European Police Office (Europol) indicated that the operations carried out with cryptocurrencies can become an instrument to facilitate illicit activities.

But if after having read both sides of this currency, you are still interested in investing in bitcoin, we advise you to pay attention to these five recommendations before putting your money in this option, thus mitigating the risks of losing a lot of money despite Make it a high risk investment :

#1. In Colombia it is not regulated: as we mentioned before, cryptocurrencies are not backed by the Central Bank, are not allowed by the authorities and there is no entity that regulates and monitors this type of investment. So you should be aware that if you lose your money, no one will answer you or at least not the State.

#2. Bitcoin is a high-risk investment: in an interview with the newspaper La República, economics professor Wilson Sánchez of the Central University warned that "before buying bitcoins, people should know that the level of risk is very large, due to volatility and inability to predict its price. "

#3. Do not get into debt to buy cryptocurrencies: this really should not be done with this or with another investment, if you are going to work your money with extra money you got. It is as simple as understanding that investments are sometimes earned and sometimes lost, so it is possible that you do not get enough profitability to cover the debt you acquired with friends, family or even a financial institution.

#4. Do not invest more than you are willing to lose: do not mortgage your home, do not pledge things of value or risk family assets or money from fixed expenses. If you are going to invest in bitcoin, says Ariel Aguilar, of the NGO bitcoin Argentina, to the newspaper La República, "it is advisable that you do not invest your savings in this currency; on the contrary, invest 1% of your assets, something that really is willing to lose.”

#5. Use reliable pages: many people take advantage of the ingenuity of people who are eager to make more money and put them in pyramids disguised as a good investment, so before invest read and talk with experts. And since transactions in bitcoin are handled through electronic wallets, we advise you to use secure sites to navigate and also only use reliable devices such as your cell phone, your computer and your home wireless network. Never use public networks neither to make investments nor for any type of financial consultation.

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