Bitcoin and Cryptocurrency

To buy, or not to buy: that is the question.

It’s easy to be intimidated with the idea of trading tangible US dollars for alternative digital currencies. Should bitcoin be used as a form of electronic cash or as an investment? The short answer is “Yes” but with a caveat.

Our humble opinion is that bitcoin can be a volatile asset that is worth exploring but with caution. Due to it’s unpredictable value, nobody should purchase more bitcoin than they are prepared to lose, just like any other investment that has risk. It is also important to know, that very few cryptocurrencies pay dividends.

That said, there is room for bitcoin and other cryptocurrencies in your wallet and investment portfolio. Based on the current market (which can change overnight), the benchmark seems to be $6,000 for a bitcoin. If the price drops below this point, we would recommend you purchase as much as possible within your comfort zone.

Coin Stats is a cryptocurrency research and portfolio trading platform

At this point, either hold onto your cryptocurrency for years as an investment or you can make online transactions. Of course, the value of your digital wallet is always at the mercy of the current exchange rate. I always search “bitcoin price” before buying or selling. For reference, one of the best apps to help with seeing the market trends of bitcoin is Coin Stats. They offer live pricing and investment information so you can make the best decision on their mobile web platform.

Secure online platform for buying, selling, transferring, and storing digital currency

That brings up the question, what are the best platforms for managing your crypto currencies? Checkout the most popular app called Coinbase for a cryptocurrency exchange. They were one of the first digital asset exchanges for bitcoin and offer excellent account security.

Instantly send money between friends or accept card payments for your business

Finally, our favorite app to manage your bitcoin is Square’s Cash App. The company has been a champion for small businesses with the point of sales system and ability to process mobile transactions. They added the ability to buy and sell bitcoin to their arsenal in 2018 via the popular money transfer service, the Cash App.

Have more questions about bitcoin and cryptocurrencies? We can help with tech financial advice. Call us today for a consultation to see how your business could start accepting bitcoin for payment, or if you need cryptocurrency investment advice from an experienced source!

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