Cryptocurrency

Is Buying Bitcoin Already Too Late

You’re probably reading this article because you’ve heard about Bitcoin and cryptocurrency causing a huge buzz a few years ago. But now you are wondering if it’s too late to get into the game. You’ve missed out on an opportunity to invest in this new form of currency, so you wonder if there is any point in giving it a shot again.

Well, there is no better time to buy and invest in Bitcoin than now. Lately, there have been lots of new crypto in the market, but none seems to match Bitcoin’s authority and dominance.

But Bitcoin also has its own limitations, including its slow transaction rate and high cost. And lately, the coin has been suffering from some deep falling. But if you ask me, that’s just the best time to make some real investment!

Buying Bitcoin

So if you are wondering if it’s still okay to invest in Bitcoin or if it’s too late, here are some points to help you decide.

Bitcoin market capitalization

When looking at the potential of any cryptocurrency, some traders prefer to consider the market capitalization of such an asset than just its price. So if you are wondering if Bitcoin is still worth investing in, you should carefully consider the market cap of the coin too.

Bitcoin’s market cap is determined by considering the present price of the crypto against the number of it in circulation. This can be a powerful tool to have an accurate picture of what to expect from the coin in the nearest future. Interestingly,Bitcoin market cap is amazing!

Bitcoin presently occupies more than 40% of the entire crypto market with more than 1$ trillion market capitalization. Although the coin has suffered some hit in terms of price lately, many expect Bitcoin’s market cap to top that of gold in the coming years.

Is Buying Bitcoin Already Too Late

Bitcoin is way down from its recent highs

If you’re a believer that the crypto market is another version of the stock market, there might be no better time to buy cryptos like Bitcoin because they are currently on sale. Recently, Bitcoin has experienced a severe drop in price – and other cryptos had fallen by a similar amount or even more.

As the history of Bitcoin has shown, big drops like this are not at all unusual, and yet the cryptocurrency has managed to consistently climb to new highs.

If you were curious about Bitcoin a few weeks ago, the current sell-off might be a chance to dip your toes into the market. Buy now and sell when the price jumps back up because it will definitely do!

Institutional adoption of Bitcoin is increasing

Bitcoin has seen some major institutional backing of late. This is important because it makes the future look incredibly bright.

In June 2020, Grayscale announced that they were buying more Bitcoin than was being mined. They also announced that in 2019, the number of institutional investors in their fund had grown by 874%.

Massive institutions like Square and PayPal have also joined in on the Bitcoin wagon. PayPal offers its account holders the ability to invest and spend Bitcoin, while Square offers its Cash app users similar functionality.

Both services allow users to buy Bitcoin directly from their accounts and spend it with merchants who accept cryptocurrencies.

Institutional adoption is increasing rapidly at an impressive rate right now. The truth is that it doesn’t look like it’s going to stop any time soon. So if you are thinking it’s too late to buy Bitcoin, you might need to shake off that thought and get your feet into the market.

Bitcoin’s real-world use case is a plus

When you’re looking to purchase a home, the largest purchase most people make in their lifetimes; Bitcoin is not the currency you will be using. The realtor will likely not accept it, either.But there are plenty of other ways to use Bitcoin to buy ordinary goods and services. It’s just not as widely accepted as traditional currencies.

For example, if you live in California and own a Tesla Model S or X, you can pay for your car with Bitcoin. If you pay with your Bitcoin wallet, you stand a chance to get free Supercharging for life through Tesla’s referral program.

While you won’t be driving around with a “Bitcoin Accepted Here” bumper sticker on your car anytime soon, there are still plenty of reasons why someone would choose to pay in Bitcoin over fiat currency.

There is a growing infrastructure of products and services

The Bitcoin space continues to grow in terms of both infrastructure and accessibility. The number of ATMs where you can purchase Bitcoin worldwide has exploded over the past few years, and some bigger cities even have Bitcoin debit cards (basically a Visa or Mastercard that is loaded from your cryptocurrency wallet).

While there are still many online retailers who don’t accept Bitcoin as a form of payment, it’s no longer an uncommon sight to see the popular cryptocurrency listed alongside credit cards as a payment option on checkout pages.

There are also now lots of crypto exchanges and brokers working hard to make it much easier for people to buy and sell Bitcoin. Coinbase, for instance, is even allowing customers to spend their bitcoin in ordinary stores while they earn some amazing rewards.

When the transaction process gets easy, there are definitely going to be more people choosing Bitcoin over other currencies. So, now is the time to buy Bitcoin and get yourself a seat on the bus!

Despite the Recent Price Drop, Many People Are Still Bullish On Bitcoin and Investing in It

The founder of Morgan Creek Capital, Mark Yusko, has predicted that the value of Bitcoin will rise to $400,000 within the next five years. Regardless of whether or not this is an accurate prediction remains to be seen, but it will be interesting to see how this affects consumer activity over time.

If you’re interested in investing in Bitcoin for yourself, this is just the right time to do so. Now, you get the chance to buy at its lowest price while you sell when the price pumps back.

What Is the Present Price of Bitcoin

As of the time of writing this post, the price of one BTC is $32,281. That’s way lower than what it was a couple of months back. But experts in the crypto world believe the price will pump back up soon.

This is not the first time Bitcoin will be experiencing this type of dip, and it has always recovered and come back better. That’s why it’s the king of the arena!

How to Buy and Start Investing In Bitcoin

There are many ways to buy Bitcoin. The most well-known exchanges are Coinbase, Anycoin Direct, and Kraken, though there are literally dozens of others. Some of these exchanges take days to deposit money into, so it’s important to do some research in advance.

It’s also possible to buy Bitcoin from a person who owns some through LocalBitcoins. However, this method comes with its own risks, as you may be dealing with an individual who does not have the best reputation for legitimacy or honesty.

There are a number of ways to invest in Bitcoin as well. One could consider buying shares in the publicly traded Bitcoin Investment Trust (GBTC) which is easier than buying coins directly but comes with its own disadvantages.

That includes high fees and the trust being forced to sell at a discount if they can’t offload their coins quickly enough on an exchange such as Gemini or Bitstamp, among many others.

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About the author

Arpita Patel

Arpita Patel is an active tech and food blogger. She has Masters degree in computer science from Mumbai University. She has contributed a number of great and informative articles to the internet. Apart from blogging she loves music, movies, outdoor games, cycling and helping people.