Is there any disadvantage of investing on Bitcoin

[Tariq Shehzad]

By contributing I figure you didn't mean purchasing bitcoin. In the event that thus, at that point trick probldm might be the most indispensable inconveniences you may confront. In the event that you mean purchasing bitcoin, at that point cost going down to the outrageous underneath for the season might be a tremendous misfortune.

 

[Aniwhyte]

I really don't think that there is any disadvantages in investing on bit coin, a lot of people seems to be investing on it lately, bit coin seems to be the new gold in town. I have heard about bit coin all this years but never gave it much interest until now.

 

[Adeyoola7]

If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery.

 

[Irfanali]

Which number

Of course, cryptocurrencyICOs are much more volatile when it comes to investing in the stock market or even in real estate. Matters such as hacking can cause investors to lose all their investments quickly.

 

[Luckboy]

Invest in Bitcoin have disadvantage and one of the disadvantage is potential of mismanagement
Ultimately, every cryptocurrency is a startup and has a team of founders running it. In order for the cryptocurrency to effectively navigate from ICO phase to mass-market levels, it needs a solid founding team. Before choosing to invest in a cryptocurrency ICO, make sure to look into the team's background and evaluate whether they have the skill sets and capabilities to execute the project.

 

[Mastercoded]

If bitcoin has an advantage then it must always have a disadvantage. The truth about cryptocurrency which people involve in it fails to tell new bees who aspire into the trade that, cryptocurrency is not a get quick rich scheme, it requires patients, and calculation. Most people will invest their entire saving on bitcoin and at the end of the day will get nothing in return...

 

[Asma]

There are manu disadvantage of investing in bitcoins because it is only coins not physical appered and the value of this curency is continuously up and down this factor will b any time give you profit and some time lose this may suffer you investment and amount.

 

[Chris]

If a bitcoin hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins will be lost and there is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery.

Post automatically merged: Feb 9, 2021

If a bitcoin hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins will be lost and there is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery.

 

[Ayokex]

I think the only disadvantage to bitcoin investment now is the uncertainty of prove movement. Bitcoin trading is like forex trading where you don't actually know where the market is moving. Most people act on the past experience in trading.

 

[mizzzlotam]

As a general rule whatever has an advantage has also a disadvantage. Bitcoin being one with numerous advantages will definitely have a disadvantage. However the advantages of Bitcoin outweighs its disadvantage.

 

[Aumeabbas]

Like we all know, everything that have advantage also have a disadvantage. Please what is the disadvantage of investing on Bitcoin?

Well Bitcoin is really unpredictable crypto crruncy, its highly risky but it no doubt jumping profit too. Its depend on luck too. So if you want to do invest in Bitcoin. You must do safe trading.

 

[Roysnickz]

Bitcoin investments are very rewarding. The Advent of bitcoin or crypto currencies in general has usher in a window of investment opportunity. As a matter of fact, the, the crypto is the new oil money.
There are however, some down sides. One of which is that hence crypto is stored in digital wallets, a lost of the password to the wallet means a total lost of your investment.

 

[Georgeadawara]

Today in all crypto currency the most expensive is the Bitcoin. Bitcoin is the currency that more rapidly and can grow farster it you are strong and capable to invest in the crypto currency you need to start with the Bitcoin and for to the rise but be careful of investing so that they will not scam you.

 

[Debola]

Con No.
Of course, when compared to investing in the stock market or even real estate, cryptocurrency ICOs are much more volatile. Issues such as hacking incidents can cause investors to lose all of their investment quickly.

 

[Bookwormlux]

Like we all know, everything that have advantage also have a disadvantage. Please what is the disadvantage of investing on Bitcoin?

The disadvantage is that prices could drop whenever you need money for something urgent and then you sell at a rate Lower than the amount you invested. To avoid this, make sure you invest only money that you would not be needing in a short time.

 

[Judee201]

LACK OF REGULATION FACILITATES BLACK MARKET ACTIVITY

Probably the biggest drawback and regulatory concern around cryptocurrency is its ability to facilitate illicit activity. Many gray and black market online transactions are denominated in Bitcoin and other cryptocurrencies. For instance, the infamous “dark web” marketplace Silk Road used Bitcoin to facilitate illegal drug purchases and other illicit activities before being shut down in 2014. Cryptocurrencies are also increasingly popular tools for money laundering – funneling illicitly obtained money through a “clean” intermediary to conceal its source.

The same strengths that make cryptocurrencies difficult for governments to seize and track allow criminals to operate with relative ease – though, it should be noted, the founder of Silk Road is now behind bars, thanks to a years-long DEA investigation.

 

[Olahab]

Similar to any speculative investment, buying bitcoin carries some well-known risks: The price could drop precipitously and a single online hacking or crashed hard drive incident can wipe out your stash of bitcoin with no recourse.

 

[Onachukwu]

The risk and volatility of Bitcoin have always been one of its biggest issues. Some say that volatility is an advantage and disadvantage of trading bitcoin and cryptocurrencies. It is usually what scares people away from investing in Bitcoin

 

[jimmann247]

Like currently now, I don't know and I have not seen any disadvantage in investing in bitcoin, people who invested in bitcoin from late last year till this moment has not regretted for investing, and more people are coming on board. No disadvantage for now.

 

[Thosynho]

Like we all know, everything that have advantage also have a disadvantage. Please what is the disadvantage of investing on Bitcoin?

One disadvantage of investing in Bitcoin is that you could lost all your investment in less than a day especially when you are not a professional or trained crypto currency trader. This is because crypto currency trading is volatile.