Should I buy Bitcoin? What steps one needs to consider before buying Bitcoin?

Frequently asked questions “Should I buy Bitcoin?” and “What steps one needs to consider before buying Bitcoin?” We did not put together these two questions by accident. 

Before you start wondering if you should buy Bitcoin, take a few necessary steps, for the beginning learn about Bitcoin, and educate yourself, you should know at least the basics about this cryptocurrency.

It is very important to properly take care of your cryptocurrency. To be sure that it is safe and secure. For starters, learn how to safely store your cryptocurrencies. Learn as much as you can about Bitcoin Wallet, how to use it, and which one is the best for you to buy cryptocurrency. 

If you don’t learn those basics you can easily lose your cryptocurrencies, for example, you can lose your private key or give it to the wrong person.

After you learn safety basics, the second thing you need to know is that Bitcoin as well as other cryptocurrencies is a very unstable asset. 

It means, that its price changes very often. You need to know, that changes like this are typical for cryptocurrencies and it is important to be patient not to panic, and hold on chosen investment strategy.

 It might look like the Bitcoin price goes up all the time but in fact, it’s not. When you look at the Bitcoin chart for a month or a year period, you will notice, that Bitcoin price fluctuates.

Of course, our goal isn’t to discourage you to invest in this cryptocurrency, we believe, that it has great potential. We just want you to be aware of the risk related to it.

Beginner investors very often make the same mistakes: they panic very quickly when the price is unstable. We need to remember that emotions have never been and will never be a good advisor to any investor.

You need to ask yourself why do you want to buy Bitcoin? Do you want to diversify your investment wallet, do you want to have money in case of emergency or do you just want to become rich and put a lot of hope in the next Bitcoin halving? 

Regardless of what motivation you follow, keep in mind that Bitcoin isn't just a speculative asset. Bitcoin can also be used as money. What is the difference between it and real money then? First of all, it is not controlled by any centralized organization. 

Bitcoin is decentralized. No one can go to Bitcoin headquarters because it simply doesn’t exist. This cryptocurrency like all the others does not have a central point, but it is distributed, located on thousands of servers from around the world.

How it is reflected in the real world? Well, let's say that your bank has frozen your funds for some reason. You do not have money for living. 

In the case of Bitcoins that are gathered in your cryptocurrency wallet, nobody except you can access them (if only he doesn’t know your private key). Such a situation of your funds getting blocked can not happen in the cryptocurrency industry. 

Another difference is character inflationary character of real money. Governments can produce more and more of these - till infinity. 

In some countries like Venezuela, this may cause hyperinflation. In the case of Bitcoin, it’s totally different because supply is limited.

Cryptocurrencies can be bought at Wellcoinex, or directly from another person. Each method requires a dose of protection - you must be careful all the time. 

We will go through all of these potential options to help you find the best place to buy Bitcoin.