I’ve always had an interest in the financial world, but had always been put off by high initial investments and fees.
Whilst traditionally investors would place their money with the likes of gold and oil, there’s a newcomer; Bitcoin.
Launched in 2009, Bitcoin is a ‘crypto-currency’, which isn’t backed by any government and is what is known as a ‘de-centralised currency’.
Wouldn’t you much rather invest in Bitcoin and see a 7-10% profit in a week (98%/mo), than invest in oil/gas, where you’ll have to wait years for any noticable profit?… Where’s the fun in that?! Here’s the chart for Bitcoin value on the Mt. Gox exchange over the past year:
Of course, being a ‘de-centralised currency’, there are high risks associated with it, but there’s also the possibility of an incredible ROI. For example, there was a recent story of a Norwegian man who bought $27 worth of Bitcoin in 2009, and until recently had forgotten about it when he realised it was now worth around $800,000!
It’s very possible that all of the major money has now been made, but the value of Bitcoin still seems to rise.
I’ll be regularly investing small amounts of £GBP into Bitcoin as I’ve already had great results. One of the things that I find incredible about Bitcoin is that it was created from nothing. By comparison, stocks/shares are backed by an initial IPO.
Another big benefit is that when you decide you’d like to sell your ‘stash’, there are a number of Bitcoin exchanges such as Mt.Gox, Bitstamp and LocalBitcoin through which you can sell your coins. Bitcoin transfer fees are negligible (usually under £0.01), and you could transfer a million dollars worth of Bitcoin for less than a dollar!
Even if it’s just £5, I’d recommend giving it a go!