Guest Post

How to Beat the Bitcoin (BTC) FOMO

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If you are one of the beginners in the cryptocurrency market  and want to be a part of the Big Show Bitcoin, We are here guiding you various ways  to get  exposure to the cryptocurrency 

If you’re worried about missing the bitcoin bandwagon, there are many ways to get exposure to cryptocurrency. Bitcoin has been the center of attention after touching a high price rate from $4,000 to $40,000 in a short time of less than a year.

So there are several people curious to buy Bitcoin and get in on the hype without buying it directly. For more information visit https://bitcoinequaliser.org/.

Megan Thee Stallion- An emerging Celebrity in Bitcoin Trade 

Last year in November  Megan Thee Stallion released the most welcomed hip hop music album of 2020 for her fans. And surprisingly after one year, she offered her fans   $1m in bitcoin. She expressed her views in her Tweet to send units of the digital currency to those who actively respond to the cash app with their username.

This cash app is a payment app that allows you to trade Bitcoin. She also regarded Bitcoin by saying it to be a smart investment capable to increase over time. This tweet by her got around 10,000 replies and  Megan Thee Stallion became a prominent figure among celebrities to follow cryptocurrency.

Her fans who followed her advice regarding cryptocurrency have been getting richer. By the time when she released her Tweet, in December the price of one single Bitcoin was more than $20,000  after being traded as low as $3,867 in March. During this month Bitcoin almost reached  $42,000, the rate having experienced a fall about a fifth from that peak.

FOMO and Investors in Bitcoin

Watching the ride rapid speed,  more and more experienced investors started to consider the serious case of what the young’uns would like to call FOMO( Fear of Missing Out).

It is right at Bitcoin,s frequent fluctuations in price may shake the trust of several investors. But at the same time, even the most responsible investors could not stop them to be tempted by the onward rise in Bitcoins price.

Contrary to Bitcoin’s previous rise in 2017, it is generally believed that much of the Bitcoins recently really is being driven by institutional investors who are constantly investing millions into the market. 

Bitcoin -A hedge against Inflation

Ruffer, a leading investment management firm famous for its conservative strategy built up a £550m bet on the cryptocurrency. An analyst at JP Morgan commented that  Bitcoin could be a long-term price target of $146,000 and compared it to “digital gold”  for the millennial generation.

The traders who are holding Bitcoin as a hedge against inflation or for security reasons are the main drivers to enforce its supply. There are many different views about Bitcoin and Bitcoins trading platforms.

With every passing day, we see more and more investors participating in the Bitcoin market through relentless marketing campaigns. 

After 2017  Bitcoin lost over 80% of its value within the year. The Financial Conduct Authority has recommended the investors to mentally prepared to face any big loss. It was due to the ban on trading cryptocurrency derivatives earlier this month. 

The investors who are much conscious about their portfolio reserves should also be careful to understand the huge environmental impact of the digital infrastructure behind Bitcoin. The University of Cambridge released data after the calculation in 2019 saying that its energy consumption was far bigger than that of Switzerland. 

For most traders, the biggest hurdle to enter into the Bitcoins market is its uncertainty. Also, several stores do not accept digital payments. So it seems to them rather a useless currency.

This also makes Bitcoin hardly linked to the real economy eventually making estimation of its inherent value more speculative. Also, the process of Bitcoin trade needs different online tools to buy stocks or other currencies. 

Buying Bitcoins Directly

There are several platforms to buy  Bitcoin and other cryptocurrencies including Binance, Coinbase, and Kraken. Also, you can purchase them through share-trading apps including Robinhood and eToro.

These apps help the investor’s exchange pounds and other currencies for multiple bitcoins, a single bitcoin, or a fraction of a bitcoin. Like any of the platforms for trading shares,  they will charge a fee for each transaction.

Conclusion

Each of these platforms has different charges and it also depends on the amount of money you plan to invest. Many people find it convenient to be on an app because they already use it for other services, or perhaps it is the one used by one of their favorite rappers.

 You can also pick the option of Online Blockchain and indirect access to get Bitcoins. The whole procedure is not as much difficult as it seems to be. So There is no need to miss out on any of the steps to trade Bitcoin smoothly. All you need is thorough research and confidence in your trading skills.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Guest Author

Crypto Journalist and Editor of guest articles in CoinPedia. Also, Outreach & Partnerships Manager. Contact me: [email protected]

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