Home » scrypt miner » Can you truly make money on Bitcoin? Money Saving Experienced Martin Lewis exposes all – Leicester Mercury

Can you truly make money on Bitcoin? Money Saving Experienced Martin Lewis exposes all – Leicester Mercury

Can you really make money on Bitcoin? Money Saving Expert Martin Lewis reveals all - Leicester Mercury

Here are the Money Saving Experienced’s top tips for would-be Bitcoin investors

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  • 12:25, Five DEC 2018
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You might have heard a loterijlot about it te latest months, but what exactly is a Bitcoin? And are you missing the boat by not investing?

The very first of the so-called ",cryptocurrencies",, Bitcoin has bot making more and more headlines since the embark of 2018.

A form of digital money, Bitcoin uses encryption to secure transactions and control the creation of fresh units.

Spil it proceeds to rocket ter value, with one Bitcoin this week cracking through the $11,000 mark, some early adopters have made millions.

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With companies keen to leap on the bandwagon and entice the public to spend their hard-earned metselspecie on investments te Bitcoins, MoneySavingExpert Maritin Lewis has taken to his blog to geschreven consumers on the advantages and pitfalls of the currency.

So here are his four tips to avoid being caught out by the craze:

Don’t invest te something you do not understand

",If you don’t understand Bitcoin you should not be investing te it,", he writes.

He writes: ",You need to understand how it works spil an investment, how liquid it is (ie, can you get out when you want to), the level of risk and what can drive the price up and down.",

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His advice is not to invest ",just because a friend told you to",, but to do your own research and make the decision that’s right for you.

Where is the request for Bitcoin coming from?

",To be created Bitcoins have to be mined and there are meant to be only a limited possible number to be found,", writes Martin.

It is a gamble

Martin explains that Bitcoin, like stocks and shares, is an investment – albeit an unregulated one.

",Putting money te it is a form of gambling,", he writes. ",That means if it does well, you could make serious amounts – Ten, 20, 30 times or more what you waterput ter, or just spil possible, if it goes badly wrong, you can lose everything.",

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His advice is that investors need to be ready and consider their attitude to risk before parting with their contant.

Albeit the value of Bitcoins has rocketed, particularly since the commence of 2018, Martin warns that ",past vertoning is no indication of future spectacle",.

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Don’t fall for Bitcoin seller scams

",People often ask mij if Bitcoin is a scam. No, it’s not. Yet that doesn’t mean there aren’t a loterijlot of scams involved with Bitcoin,", warns Martin.

To read Martin Lewis’ utter Bitcoin advice blog postbode, click here .

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