Should I add some bitcoin to my portfolio

 Should I add some bitcoin to my portfolio

Bitcoin (CRYPTO: BTC) is the most popular investment on the planet right now and it is causing a lot of buzz in the markets. This digital currency has been around since 2009 but recently hit record highs, which has helped many investors double their profits in just a few months.

As the world's first decentralized currency to hit the market, many believe that Bitcoin and its blockchain technology could revolutionize financial services. If you're wondering if you should get involved in bitcoin action, here are a few points to consider to make your decision easier.

Earn while you study

If bitcoin sounds crap to you, now is the time to learn more about this digital currency. Don't automatically write it off as a scam because you don't understand it. Try to learn as much as possible, and then draw your own conclusions.

Often the motivation to learn something completely new is put on the back burner if you don't have a skin in the game. So, invest where your curiosity is and get ready to enter the bitcoin learning lab. There are no restrictions on when you can study because the cryptocurrency market operates in real time 24 hours a day, unlike the stock market.

Start with fractional parts

If you do a quick search for the price of bitcoin, it is easy to get intimidated and automatically assume that you have no chance of becoming an investor. This month, the price of bitcoins topped $ 50,000 for the first time. It is the largest cryptocurrency by market value and enjoys a lot of support from big companies like Tesla, PayPal and Mastercard.

But that doesn't mean you don't have the opportunity to continue participating. The good news is that you don't have to pay the full price to become a bitcoin investor. Let's say the bitcoin price is $ 50,000 and you only want to set aside $ 1,000 for investment. It is possible. You can take advantage of fractional stocks and use your $ 1,000 to get 0.02 bitcoin. As the price of bitcoin rises, so does the value of your prorated share. The mechanics of investing in bitcoin are similar to investing in the stock market, but there are some nuances (like cryptographic transformations) that can make it a little tricky.

Create a winning opportunity

When it comes to investing, there is a simple rule of thumb: Don't invest what you cannot afford to lose. On the other hand, don't be afraid to lose enough to miss out on an incredible learning opportunity.

Adding bitcoins to your portfolio allows you to diversify your assets. You never want to find yourself in a position where you only need to rely on one asset class to survive. This is one of the biggest risks you can take. By diversifying and delving deeper into asset classes to learn more, you give yourself a chance to win, no matter what the outcome is five years from now.