Login to your account

Username *
Password *
Remember Me

Create an account

Fields marked with an asterisk (*) are required.
Name *
Username *
Password *
Verify password *
Email *
Verify email *
Captcha *
Reload Captcha

Why holding BTC can sometimes be advantageous

Written by  (Guest Contributor) Mark Hughes - Crypto Trader Jun 19, 2020

Bitcoin has been around for nearly 11 years now and even though it hit a mainstream all-time high in 2017, it has never been able to return to such Heights.

In 2009, when the digital asset was created and released to the world, not many people saw it as a serious investment opportunity, just more of a fad. Of course, back then bitcoin was going for mere pennies compared to now. Over the next few years, many people so owning bitcoin as a fun thing to own with one person buying two pizzas for 10,000 bitcoins back in the early days of the asset's life.

One person on the popular social media network Reddit has confessed to using almost 57 bitcoins to pay for peanuts back in 2012, which seems farcical now.

So it probably came as a surprise to these users when bitcoin hit $20,000 in 2017. Funnily enough, though the same person who bought peanuts with 57 bitcoins in 2012 recently logged into his USB hard drive (which he luckily backed up his details on), and found that he had two BTC left to his name. Looking at the price of BTC today, that’s almost $20,000 in itself.

Of course, if he had kept all of his BTC originally and didn’t buy the cursed peanuts, he could have potentially more than half $1 million in his bank account right now.

Advertisement

So what is the point of this? Why am I telling you this?

I suppose the question of whether you should hold or sell when it comes to bitcoin is an age old query. Is it worth holding your assets or selling them off and profiting on what you can as of now. Of course it all depends on the investor in question but, there has been a lot of debate recently as to whether buying and holding is better than actively using BTC and other crypto assets.

Looking outside of regular investors and into the institutional world, there have been big companies such as Grayscale who have been aggressively buying bitcoin in recent times.

crytpo_directionAlso see: Ways to invest in the cryptocurrency market

Before we go finish, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

It will be interesting to see how this situation plays out.

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

What do you think? Comment below or follow us on Facebook or Twitter.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Cryptosavvy.co.uk. Readers should do their own research before investing funds.

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

Follow Us

Advertisement

Help and Advice

May 06, 2020

Beginners Guide To Cryptocurrency

Cryptocurrency has been around since 2009 and has grown in popularity ever since. But if you’re a beginner in the cryp...

Feb 10, 2020

Tips To Trade The Volatile Crypto Market

The expected economic impact of the coronavirus has resulted in crashing stock markets across all the globe. ...

May 08, 2020

What is Cryptojacking?

'Cryptojacking' is a term used to describe the action of secretly using a computer to mine cryptocurrency for profit. ...

May 26, 2020

Ways to invest in the cryptocurrency market

Bitcoins huge price movement back in 2017 attracted many investors who wanted to profit from the emergence of this new d...

May 11, 2020

What is an ICO?

An ICO stands for Initial Coin Offering, it is a method for teams to raise funds for a project in the cryptocurrency spa...

Jun 24, 2020

The difference between Bitcoin, Altcoins and Tokens

The cryptocurrency market is well established, but then there are new people discovering the benefits of crypto trading ...

Feb 20, 2020

How VPN Services Protect Your Data

Wherever you are, a virtual private network is still one of the best ways to secure your crypto data on the internet. ...

Jan 31, 2020

Tips on keep your mobile banking apps secure

If you are buying and selling cryptocurrency and need to fund your investments or withdraw your money, it always pays to...

May 11, 2020

How to protect your Gmail account

Technology is constantly changing and at a pace which is hard to keep up with, but 'safety first' always applies. ...

Jan 13, 2020

Be wary of shoulder surfing

When you are trading in the office this is rarely a problem as you know your colleagues and you are in an enclosed envir...

Apr 06, 2020

Every new crypto computer needs protecting

All those crypto files you’ve saved through the years that you can’t remember what they are? Goodbye, it wasn’t me...

Jan 08, 2020

What you need to know about filing Crypto taxes in the UK

For some time, Governments across the world have been cracking down on crypto taxes.

Feb 07, 2020

Is 2 Factor Authentication Enough?

The technology and security controls in every example is different and therefore, the time, effort, and cost required to...

Feb 21, 2020

Proton Mail: The Best Secure email Provider there is

Proton Mail offers a comprehensive level of security, while also locating its data centres ‘underneath 1000 meters of ...

Feb 17, 2020

What is a Trojan?

As the name suggests, Backdoor Trojans are designed to grant an external user full control over a system by creating a b...

Jan 15, 2020

How to secure your router from Cyber Attacks

Hackers nowadays are seen using routers as botnets to launch cyber attacks on large companies and organisations. ...