Investing in Bitcoin is really risky and If you want to invest in it you should know the risks so here are 4 things you should think about before you invest:
Never invest more than you are able to lose – Bitcoin is a very risky investment and you should keep in that in mind at all times.
After buying Bitcoins make sure to move them into your own personal wallet and never leave them at the exchange. My personal recommendation is to use a hardware wallet which is a bitcoin wallet that uses a physical piece of hardware in order to operate and keep it more secure. Examples of hardware wallets are TREZOR, LedgerWallet and Keepkey. A hardware wallet is usually more secure since it's considered to be a form of cold storage. If you can’t afford a hardware wallet, try a paper wallet which is a type of physical Bitcoin wallet. Instead of keeping the private keys on a piece of hardware, it is written down on a piece of paper.
Make sure to buy Bitcoins only from exchanges that have proven their reputation.
Buy Bitcoins through Dollar cost averaging – This means that you don’t buy all of your Bitcoins in one trade but instead buy a fixed amount every month, week or even day throughout the year. This way you average the price over the course of a whole year.
It is really risky but the great risk hides great success.
