A practical guide to investing in bitcoin for savers recalls the precautions to take before investing in this risky market and reserved for techies. Click here for bitcoin faucets.
Bitcoin exchange platforms must be approved
Regarding platforms for the purchase and resale of bitcoinsit is essential to check the reputation and reliability of these sites. Before choosing a platform, it must be checked whether it is accredited by the concerned authority to carry out this activity (it must be a credit institution, an electronic money institution or an institution payment). Visit this site for bitcoin faucets.
No official course or legal tender
Then, the very high volatility of the price of bitcoin makes it a risky asset on which we can win but also lose a lot. And given the fact that virtual currencies are not legal tender, they do not benefit from central bank guarantees and nothing protects savers in the event of bankruptcy of the intermediary.Bitcoin is aimed at sophisticated investors: a minimum of technical and financial appetite is necessary in order to understand the protocol on which it is based and its risks. This is a basic principle of investment, namely to invest only in areas that we understand.
The 5 points before investing on bitcoin
> Understanding the transaction protocol (the blockchain) on which the cryptocurrency is based
> Know that you can lose all your bet or more
> Check that the bitcoin platform is approved
> Make sure the bitcoin storage medium (your electronic wallet) is secure