Can I Trade Bitcoin to Make Money?
As the price of Bitcoin soars people in the UK are asking : how can I buy a bitcoin with a uk debit card?
Bitcoins are one of the most unique forms of currency in the world; mainly due to the fact that in some regions they aren’t recognised as a form of tender and even within those that do – they are only ever transacted with in a digital environment. Since their initial introduction in 2009 roughly 15 million coins have been created (mined), with only 6 million left before the currency reaches its peak of 21 million. Many people buy, sell and trade in bitcoin and as a result they can be a valuable asset.
How much are bitcoins worth?
This will depend on a variety of factors; such as the current demand, the availability of bitcoins in circulation and the sellers’ expectations. Although not everyone might be willing to receive payment in bitcoin – those that are will typically be willing to pay physical cash in order to acquire them. What this means is that for those that want to make money by trading in bitcoins, the potential to do so is certainly something worth considering.
How much can you make?
As things stand in the third quarter of 2017, to buy a bitcoin in the UK will typically cost f £4000 to about £4200. Those that purchased their coins years ago at a lower rate will undoubtedly be sitting on a potential gold mine – and as the demand for this form of currency is increasing with the years; so too is their value.
Some traders might want to keep hold of their coins until the time is right to sell, while others may wish to buy cheap bitcoins and then sell them on as soon as possible for a profit. In any event, and with the hike in value every few years, those that have access to these coins right now will already be on their way to seeing a comfortable return on their investment by 2020 alone.
What this also means is that anyone that is keen to buy a coin (or a collection of them) in the near future will likely be able to do so now at their current price, and then enjoy the potential for a profit over the course of the next decade. With a cap of 21 million and blocks manufacturing bitcoins at a high rate – it’s estimated that by 2140 the very last one will have been mined.
And the closer to this year that the trade is made for a physical currency such as GBP, USD, or AUD; the greater the profit should be.