Cryptocurrency is a relatively old concept that gained immense popularity over the last few years. Incidents, where some people earned thousands of dollars in a few days while some lost their entire investments, caused confusion and misconception about crypto investment. Profitbird provides you with a safe and convenient platform for investing money.
The Volatility of Crypto Prices – An Introduction
Bitcoin cryptocurrency, a completely decentralized electronic cash system, revolutionized the concept of money itself in 2009. For a few years, bitcoin investment was not universal, and cryptocurrency mining was a hobby for trend chasers and tech enthusiasts. Cryptocurrency prices were high and a high-risk investment in popular opinion. This opinion did not last long as the cryptocurrency exchange rates for bitcoin went from $750 to $10, 000 in 1 year. This massive boost in crypto prices gained enormous media attention and attracted global investments. The best investments fructified before this drift as the flooding of investments led to the falling of cryptocurrency exchange rates. The downfall of crypto exchange rates led to huge losses to investors and the affected economy at large.
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Why Invest in Cryptocurrency?
Experts have varying opinions for investing money in cryptocurrency. Some find cryptocurrency trading a high-risk investment as crypto prices fluctuate daily and at a larger magnitude than regular currencies. Others believe that it is the future of finance. Following are the benefits of Cryptocurrency trading:
- Cryptocurrency is a relatively new investment asset and therefore provides high-profit rates, unlike traditional assets.
- Although crypto rates are unstable and fluctuate daily, a long term investment can lead to a significant return.
- High liquidity rates allow easy buying and selling for maintaining profits and avoiding huge losses.
- Some experts predict it to dominate the market shortly with growth in cryptocurrency rates.
Taxing of Cryptocurrency
Cryptocurrency is not tax-free. The provisions for taxation of cryptocurrency vary from country to country. Additionally, there is no broad practice of tax consultancy for cryptocurrency as it is relatively old. Although, in most states, bitcoins and other altcoins are exempt from Value Added Tax (VAT). Cryptocurrency trading profits are taxable as assets, but earnings from any crypto sold after being held for one year are non-taxable.
Cryptocurrencies need consideration as a new investment option, unlike traditional assets. It is the reason why there are no universal policies for governance and management of cryptocurrencies. Taxation on profits from cryptocurrency trading depends on the country, which usually fails to distinguish between bitcoin and altcoin. On the other hand, crypto currency’s daily fluctuations and high liquidity allow higher profits than any other asset.
Unique Reasons Why Investing In Cryptocurrency Is Better Than Investing In Stocks
- Few Professional Traders: Bitcoin cryptocurrency trading is a relatively new market, which means there are very few professional traders involved. That means fewer experts, and which translates to less competition and more profit for the investors.
- Highly Volatile: The cryptocurrency market is still in its’ infancy stages and needs to grow a lot. Hence, it equates to increased volatility, which sometimes touches 50% in a single day, which is a trader’s absolute wet dream.
- No Barrier to Entry: The lower trading fees allow virtually ANYONE to enter into the Bitcoin cryptocurrency It can range from a wealthy person in business, to a regular kid in South America who only has a little to invest.
Why Choose Profitbird As The Primary Crypto Exchange Link For Bitcoin Investment?
ProfitBird makes investing money in cryptocurrency simple, smart, and secure with the following features:
- Investment starts with just € 50 so that anybody can begin investing money.
- ProfitBird invests funds automatically for users to save them from the hassle.
- Online dashboard to control and track investments
- Risk management to invest and secure profits based on market analysis
- Transparency features to provide users with real-time updates on your investment
- Security features to keep their finances secure
- Users can start and stop investments at any time from the dashboard.
Users can register online to set up an account for investment and start investing in a few minutes. The smart trading technology invests its funds optimally into cryptocurrencies in a transparent manner. ProfitBird optimizes these funds into a portfolio of cryptocurrencies to manage risk and gives users full control to start or stop the investment.
ProfitBird simplifies the investment process for users by making smart, secure, and reliable investments using smart technology that invests when it’s right. Additionally, it secures profits when the market is at risk while giving users complete control of their funds. Thus, picking the ideal platform which connects to the major cryptocurrency exchanges, can be the best way possible to start investing in cryptocurrencies for many users. Remember, you’re never too late when it comes to starting to invest and securing your family’s future.