One of the best things about Bitcoin is that it is a good investment. Its rising value has drawn the interest of many investors, traders and speculators. However, Bitcoin can also be used as a form of savings. Some people put their savings in stocks, bonds and mutual funds, but thanks to new platforms and services, cryptocurrencies like Bitcoin are now being used to store, protect and gradually grow personal capital.
There are plenty of platforms that allow people to save Bitcoin. These Bitcoin based platforms offer valuable advice and services to people who want to invest their money in cryptocurrencies. The best ones also offer charts, news reports, commentaries and various other tools that can tell you when to buy, when to sell and when to hold.
In fact, various people and organizations have recently come together to organize new content, services and platforms to help investors and ordinary people alike save their capital using Bitcoin. People, such as Barry Silbert, Will Pangman, MK Lords, Blake Anderson, Jason King as well as certain members of the Digital Currency Group, have even joined together to create a short film discussing this very issue.
How Bitcoin is different
Bitcoin has peculiar characteristics. Despite sharing certain similarities with traditional currencies, Bitcoin operates on a different paradigm that's quite distinct from other mediums of exchange. For example, Bitcoin is not directly affected by Central Banks and interest rates, nor do they have the same weaknesses as other types of investments.
Even speculators cannot wholly manipulate the value of cryptocurrencies because of their decentralized nature, and it is these features that make Bitcoin and other similar cryptocurrencies a good option for storing capital as well as portfolio diversification.
Where to start
For those of you who are interested in using Bitcoin to save or protect your capital, there are several apps that you can use for this purpose. A few good examples include Purse, Fold and Gyft. There are also, communities and organizations, like the World Crypto Network and Blockchain Capital, that can help you track the latest news and information about Bitcoin and other Cryptocurrencies.
Using a good platform can be particularly helpful as they may help you save up to 10% to 20% on your purchases. However, you should also be aware of the risks. Bitcoin can be volatile in certain situations, and you will need a platform that keeps you up-to-date about its latest fluctuations. So it's not enough to find a platform that offers good deals, you will also need to find one that offers honest, up-to-date information.
If you want to buy Bitcoin for the first time, you have several options available to you. There are the apps, like Fold and Gyft, that we've mentioned already, but there are other options as well. Aside from bitcoin and cryptocurrency trading platforms, there are also online communities that can help you find what you're looking for. So if you want to save money using Bitcoin then look at as many options as you can then create a good investment strategy that best compliments your portfolio and investment goals.