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| Bitcoin Investor |
How much will I get if I invest R1000 in Bitcoin? Is Bitcoin investment in South Africa still profitable? If you are here looking to invest in Bitcoin, we got your back. After going through this article, you will discover if you invest R100 in Bitcoin how much you will get.
Cryptocurrency investment has recently become one of the popular ways to make money online at the comfort of your home. There are several people out there who have made millions of dollars through cryptocurrency investment.
The most popular cryptocurrency is Bitcoin. Bitcoin has gain the attention of many investors in recent years due to its price. However, it is essential to understand that Bitcoin investment is highly risky just like any other investment. Keep reading to learn if you invest R100 in Bitcoin how much you will get.
What is Bitcoin Investment?
Bitcoin investment refers to the selling and buying of Bitcoin on a supported cryptocurrency exchange platform. The most popular cryptocurrency platforms to buy and invest your Bitcoin are Binance, Luno, Coinbase, and many others.
With Bitcoin investment, investors usually buy Bitcoin at a lower price and sell it later when the price goes up. Bitcoin investors mostly take advantage of the price fluctuations since Bitcoin is a highly volatile coin.
If I invest R100 in Bitcoin how much will I get?
The truth about this question is that there is no accurate or concrete answer. Why? Bitcoin is a highly volatile coin which means the price fluctuates wildly. Therefore, it is almost impossible to tell how much profit you are gonna make if you invest R100.
This means that how much you are going to get will depend on the price of Bitcoin at that time. So, if you invest R1000 or more in Bitcoin, how much you will get will depend entirely on the price of Bitcoin at the time of selling it.
For instance, as at the time of writing this article, R100 Bitcoin is about 0.00018. If you buy R100 worth of Bitcoin which is 0.00018, how much you will get in the near future will depend on the price at that time.
There are many experts who have predicted that Bitcoin is likely to cross $50,000 by the close of 2023. This means that if you buy R100 worth of Bitcoin now, you are much likely going to get twice of your investment.
Note: Since Bitcoin is highly volatile, we cannot confirm whether you will make profit or not. Investing in Bitcoin is highly risky. Therefore, you must understand the implications before investing. Most Bitcoin investors have lost their money due to the price fluctuations.
Useful Tip on Bitcoin Investment
Before investing in Bitcoin, it is essential to consider the following:
1. Security
Security should be one of the factors to consider when investing in cryptocurrencies. As a digital currency, Bitcoin is not backed by any financial institution or government. This means that if you lose your Bitcoin, you cannot get guarantee from any financial institution or the government.
2. Volatility
Another factor to consider is the volatility. Bitcoin price rises and falls wildly within the shortest possible time. Therefore, understanding this will help you lose any large sum of money.
3. Regulation
Bitcoin price, like any cryptocurrency, depends on several factors. The price is not regulated by any financial institution. There is also risk of non regulation that could affect its price since it is a new and emerging asset.
How to Buy Bitcoin in South Africa
Before purchasing your Bitcoin in South Africa, you need to consider the following:
- Do thorough research to understand everything about Bitcoin trading or investment
- Get a reliable Bitcoin wallet (Binance, Trust wallet etc)
- Create and validate your account using your government issued ID
One you have successfully created your Bitcoin wallet, you will need to add payment information to start buying and selling Bitcoin through direct purchase or peer-to-peer transaction. You must follow all the terms and conditions to avoid getting your account suspended.
FAQs
Below are some of the frequently asked questions about investing R100 in Bitcoin in South Africa:
If I invest R1000 in Bitcoin how much will I get?
As I indicated earlier, Bitcoin is highly volatile. It is not easy to predict the amount you will make if you invest that amount. The amount of profit you are going to get will depend on several factors such as the price of Bitcoin at that time and the strength of the dollar.
Is Bitcoin investment profitable?
Yes, investing in Bitcoin can be profitable if done correctly. I have personally invested in Bitcoin and earned profit. You just need to understand how it works.
Conclusion
Investing in Bitcoin is highly risky. You can either gain or lose. It is therefore important to consider the risks. We hope we have answered your question ‘if I invest R100 in Bitcoin today how much will I get?’ if you do not understand anything you can drop your question in the comments section.