Where is it profitable to buy bitcoin

Similar to any speculative investment, buying bitcoin carries some well-known risks: The price could drop precipitously and a single online hacking or crashed hard drive incident can wipe out your stash of bitcoin with no recourse. Bitcoin has seen dramatic run-ups in price followed by some painful crashes but has consistently retained a significant portion of its previous gains every time it plummets.

Since its inception, Bitcoin was the 1st digital asset to beget the current ecosystem of cryptos. For quite a while, it grew an underground following of investors who saw its future as a possible replacement to the physical monetary system.

The decision to invest in bitcoin comes down to your appetite for risk.

Investing in bitcoin is similar to investing in stocks, but it is far more volatile due to the daily swings in bitcoin. Here are the steps to invest in bitcoin: Open a brokerage account with a company that allows crypto investments. Deposit funds into your brokerage account.

Buy BTC. Later sell the crypto for a gain or loss.

Here are some top brokerages to invest in bitcoin.