2 Reasons to Buy Bitcoin Now & 3 Reasons Not To

By now you’ve probably started to hear about Bitcoin and digital currency like litecoin and etherum. Bitcoin is the most popular of the cryptocurrency and with values skyrocketing, you may be tempted to buy Bitcoin. There are some good reasons to buy Bitcoin right now, but there are also good reasons to wait and see what happens or sit out of Bitcoin entirely.

After doing a lot of research into Bitcoin due to the massive interest and growth over the last year, I’m sharing what I’ve learned so you can decide if buying Bitcoin is the right move for you. If you are still new to Bitcoin and cryptocurrency, the video below outlines the biggest things you need to know about what it is and how it works.

You can buy something with Bitcoin, which is what separates it from some of the other digital currencies that you need to convert into dollars or other conventional currency before you use them. While you can use Bitcoin to buy stuff, many people are treating it as an investment to see where the value goes and to try to make money buying it at the right time.

Here’s a look at why you should buy Bitcoin now, and why you should wait and see what happens. If you take the plunge, here are the best Bitcoin apps to install on your phone.

Buy Bitcoin as an Investment

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At this stage, buying Bitcoin to buy something with it immediately isn't the best idea, but buying it as an investment is a valid reason to buy. Similar to how stock prices rise and fall, you can buy Bitcoin when it is low and then sell when it is high, or hang onto it for the ride.  Like the stock market, past performance is not indicative of future results. The Bitcoin price could go up, or it could go down. The swings are becoming more pronounced, so if you buy low, you may even find yourself selling a few days later at a new high.  Instead of buying Bitcoin to use as a currency at the local pub or to buy a car with it, look at it as a speculative investment that you could lose without losing your house.  It's fairly easy to buy Bitcoin with Coinbase, and so you can buy it that way and keep your money stored there to easily see what the price is.

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