Overview: In this article, I have put my experience from 2017-2021 about Bitcoin. You may have a question, should I buy Bitcoin in 2021? When to buy? I have discussed my experience so you won’t lose money.
I never wrote any articles on this site related to Bitcoin or any other Crypto Currencies, the reason behind this was I don’t consider myself as a Crypto Guru yet even after 3.5 years of Crypto trading and learning blockchain technology and every related term.
When I started writing tech articles it took me 4 years of geeking and knowledge that’s why you find my articles unique and useful.
I have seen people who monitor CoinMarketCap for a week and become crypto Gurus.
I came to know about Bitcoin back in 2012 for the first time when I was playing CS GO and was offered to buy CS GO skins for Bitcoin but didn’t buy a single coin since I had no idea about cryptocurrencies.
When BitCoin made news during Mt Gox crash in 2014 I started learning about it but went into deep learning in 2016 and bought my first Bitcoin for $1.5K back in April 2017. (I had a chance to buy BTC at $650 but had less knowledge and Hard earned money which I didn’t want to put at risk).
I spent a lot of time learning, came to know about Blockchain, Mining, POS(Proof of stake), and many other related terms.
Then learned trading did mistakes, lost money, recovered and today I am holding more than 24 Altcoins, Altcoins which have a strong roadmap and they seem to be future-proof projects.
If you are new to cryptos and want to buy Bitcoin and Altcoins then I am here to guide you, my learning and knowledge will help you to make a quick decision.
Should You Buy Bitcoin Now?
If you have bought some Bitcoins in 2011 you may have a millionaire by now but at that time no one knew that Bitcoin will skyrocket in 2017.
But what if you came to know about Bitcoin late?
No problem, Blockchain technology is still an emerging technology there is very little real-world application of blockchain at this time, it will grow in coming years.
Even if you don’t find Bitcoin a future-proof investment there are several other altcoins and Etherium based tokens with future-proof projects.
Most of the time you need to buy Bitcoin in order to buy other coins and tokens, so you have to buy Bitcoin for Fiat currency because most of the Exchanges offer to buy bitcoin with real-world money.
Although there are exchanges that offer Etherium, Bitcoin Cash, Litecoin, and few other Altcoins.
So the main question is Should you buy Bitcoin in 2021?
If you are totally against Bitcoin then no one can convince you, but if you think for the future you definitely want to buy Bitcoin and other good Altcoins.
Let’s go back to December 2017 when Bitcoin and almost every altcoin skyrocketed many people were interested in buying Bitcoin and they all were optimistic about it.
100 Thousands of new buyers bought Bitcoin at that time around the globe by looking at the skyrocketing price.
But was it clever buying? I don’t think so.
It was greed buying when people saw the price is going up and they bought coins so that they can make a good amount of money overnight.
But what? As of now in Feb 2018 BTC price dropped down to $7000/BTC. So did they made money?
Most of them lost it and blaming Bitcoin and not buying when the price is lesser than half of what it was in Dec 2017.
That is totally wrong move.
Is Bitcoin Really Crashed?
If you compare it to the price it had 2-3 months ago then Bitcoin really crashed.
But, is it Crashed compared to the price it had last year?
NO, Cryptos are not going to make you rich overnight, if you are trading even from 4-5 months you may have realized it. Buy and give it time HOLD till you make a good profit. (Don’t buy scam coins and HOLD you gonna lose it).
Just look at the crash in Jan Feb 2017 and the Highest price.
It was traded at around $1200 in Feb which was the highest price in Feb 2017, is the current price(Feb 2018) lower than the highest price of Feb 2017?
So where is the crash?
It is still 6 times higher than what it was last year in the same time period.
By the time you may have understood that cryptos are long-time investments.
Here is what I have learned trading cryptos and you can apply it too in your crypto journey.
Bitcoin In 2021?
This article was originally written in 2018, but the Bitcoin price skyrocketed to more than $55K, that’s crazy. But should you jump and start buying Bitcoin now?
If you have read my analysis back in 2017-18 then you will realize that after an all-time high Bitcoin crashed and this is going to happen again.
Do not buy when the price is high, wait for the crash or dip then you can decide. Don’t follow Guru’s who are asking you to buy when prices are high. Don’t fall for FOMO.
As of today, 28th May 2021, Bitcoin and other Altcoins are recovering from the steep crash, you could have bought it when Bitcoin dropped to $32K. But hey, it is all about if and but.
Still, this is a good time to buy Cryptos when the prices are down.
You can buy them from WazirX which offers tons of coins to buy.
Tips to Buy Bitcoin and Altcoins
- Do proper research before buying any Crypto Coin.
- Read actually read I repeat read their whitepaper or just take an overview of it and check their roadmap.
- Check the authenticity of the people behind the projects.
- Look for the team behind the projects.
- Check their technology.
- Check for their community portal and support center.
- Never buy just because peoples are buying it.
- Never buy any Crypto Coin at an all-time high price. (You may lose it) The price will go down for sure.
- Don’t be greedy, you won’t get rich overnight.
- Don’t panic if the price is going down.
- Never do Greed Buy.
- Never do Panic sell.
- Buy coins that have future-proof projects.
- Don’t buy shitty coins and useless ERC20 tokens.
- Only buy coins (Projects) that have real-world applications.
- Proof of Work and Proof of Stake coins are beneficial.
- Last but not least, HOLD and keep Patience. (Most of the people lack this so they lose).
Remember Crypto Market is still to grow much, these dips are not Crypto death.
Did you buy Cryptos at a high price? Not to worry give it time you won’t regret it since there is much more to happen in the coming years.
But you bought without doing any research your investment may be at risk.
So this was all about buying Bitcoin and Altcoins in this post, I will write more on cryptos in the coming days and I will also do research for you guys to make a quick decision.
Disclaimer – The above suggestion is based on my experience and research, do your own research too before buying any Crypto Coin. The mentioned Exchange WazirX is one of the top exchanges to buy cryptos, I use it as well.
Also Read –
- BitBns Review – Best Bitcoin Trading App for Indian Users
- Common Internet Scams You Should Be Aware Of
- Your Crypto Wallet Is Not as Safe as You Think. Learn to Protect It