A Guide to Bitcoin in Dubai

Bitcoins have come with a bang. The new form of payment in the world is really interesting as it includes payment of anything and everything in digital form. This is a new way which is being embraced by a large population of people in the world. Bitcoins is a new form of currency that is being referred to as cryptocurrency.

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It is one of the first means of cryptocurrency with it working very differently from the normal currency we have. It does not have any central bank or an administrator. This is very different from our normal currency which is controlled by the World Bank, so simple even a court reporter Seattle would find it easy. Bitcoins are normally used to buy items or can even be exchanged for other currencies in any form that the user wants it to be.

Bitcoins Value

Bitcoins are of a higher much value than the normal currency rates hence making them a conflict of interest with some people very adamant to accept the new form of currency to pay for their products and normal endeavors. Although some have acknowledged the use, some may not take the change very lightly as they do not understand this new form.

Growth in Dubai

Bitcoins have rapidly grown to fame in each and every country including India which one can buy bitcoins. This is where one buys bitcoins with their current form of currency and attains bitcoins of the value of the money.

Dubai has not been left behind in the trade as they also are on the for front in accepting the new form of currency for trade. One can buy bitcoins in Dubai and use it for the normal purchase and sale of their products. Although one may think that one must be an Indian to transact the same, the case is not so as anyone can transact using bitcoins in Dubai. You can read more about this here!

Exchanging Bitcoins

Exchange of any currency to bitcoins is happening in India and is very much alive. In order for one to buy bitcoins in Dubai, one requires to have a bitcoin wallet. This is a virtual wallet where one keeps his/her bitcoins. It is like a virtual bank for bitcoins. With this wallet, one will be able to transact with bitcoins either being emitted from the wallet or being increased. Transfer of funds is possible from one wallet to another after the business is complete. There are various platforms that have been created to enable one to transact via bitcoins. These platforms can enable one to buy bitcoins in India.

Platforms such as Zepbay and Coinama have been established to enable people who wish to transact using bitcoins to do so. Also these platforms are there for those who would like to change their currency and obtain bitcoins. In these sites, one is able to buy bitcoins straight to his virtual wallet. Such sites in Dubai have enabled the residents and foreigners to indulge in the new cryptocurrency and enjoy the transaction services.

This new form of currency has come with a bang and seems to be taking over the world. Although it has made transaction easier, we are yet to see how long it will last.

Effective Bitcoin Investment Strategies

Creating an Effective Bitcoin Investment Strategy

Are you thinking about hopping on the Bitcoin freight train? With cryptocurrencies getting more and more popular each day, it’s shouldn’t come as a surprise why so many people want to test the waters and see what the hype is all about. The thing is, Bitcoin isn’t all hype. It has come so far over the years, and now many digital coins are being accepted as a form of payment in thousands of establishments across the globe. Still, you should learn how to create a solid Bitcoin investment strategy to increase your chances of success.

Why is Bitcoin Popular Among New Investors?

This year, Bitcoin and cryptocurrency, in general, have skyrocketed in popularity. It’s amazing to think that back in January, Bitcoin is valued at $800. But right now, a single bitcoin is equivalent to a whopping $17,000 and the year isn’t even over! This means if you invested in Bitcoin in January, you have grown your money by 20 times. This level of growth is virtually unheard of in the realm of traditional investing. In digital currencies, however, it’s truly possible to double your money overnight.

As you can see, the rewards are high in investing in cryptocurrency. But this also means that the risks are equally as high. While it’s possible to double your money almost in an instant, you could also lose it just as quickly. Such is the volatile nature of the cryptocurrency market. It’s not uncommon to see a particular coin rise in value by over 200% and then plummet back down all of a sudden. If you miss the ride up, you’ll surely get hurt in the fall.

bitcoin investment plan

How to Minimize Risks?

The most important thing to keep in mind is that once you put your money in digital coins, you should accept the risks that come with it. The risks are considerably higher compared to investing in stocks, but the rewards are also higher. As a general rule, it’s recommended to invest in digital coins that have real-world applications. In most cases, these are the coins that rank in the top 10 to 15 in market cap. Bitcoin, for instance, ranks number one, and it has proven to be useful in the real world.

You can think of Bitcoin as digital gold. It is an excellent choice for a long-term store of value, but it’s not what you’d use for day to day transactions. For this reason, a huge chunk of your money should go into a Bitcoin investment strategy and a smaller portion of the other coins you want to invest in.

If you choose, you can try day trading. Since it’s common for many coins to rise in value by 10% or more, it’s easy to see how much money you could make daily. But again, the risks are always there. Never trade more than you could afford to lose. It’s a safer choice to hold on to your coins for the long term and wait until their value increases.