Once you choose your bitcoin portfolio, the operation is very similar to that of buying and selling shares . The difference is that, depending on the payment method, the order will take more or less to execute. But as with a typical broker, you can enter your portfolio and see the evolution of bitcoin and its translation into euros. What does change is that there is no need to buy 1 whole bitcoin, just choose the amount to invest. That will translate into a bitcoin portion. In the case of these bitcoin trading platforms (Claim United Bitcoin Electrum), the transactions are controlled by a third party, which is the platform. That is, security depends on them and it is they who have the private keys of bitcoins.
To follow the bitcoin quote, simply connect to your virtual wallet. There you can follow the evolution of the virtual currency and see how it fluctuates. In fact, you should look at the price marked by your platform, since the price of the virtual currency varies depending on the purse you use. If you do not mind that the data is not 100% accurate, you can use platforms such as Coinbase or Coingecko. Even specialized media such as El Economista will give you this information.
In this sense, there is one thing you should be clear about when investing in bitcoin : it is a very volatile asset. It is normal to see large swings in the price of bitcoin within a single day. At this point it is easy to have read news about the profitability of bitcoin and how a person who had invested 1,000 euros in 2009 today would have more than 2.5 million euros. The data is real, but to put it in context, just remember how much the first two pizzas purchased with the virtual currency cost. Investing in bitcoin at that time was to make it into a promise. So much so that you just have to think of other cryptocurrencies of the time like Dogecoin, whose evolution has been mixed.
Advantages and risks of investing in Bitcoin
The benefits of invertie in cryptocurrencies (Claim United Bitcoin Electrum) are evident. The first is the huge profitability you can get , provided you bet or bet at the right time. As with any other asset, and more after becoming a trend, the timing of the bitcoin investment is critical. From there, everything is a matter of whether or not you believe in your future as an alternative to traditional currencies or fiat currencies . If you are confident that this type of system and the blockchain in general will end up having a gap, the long-term investment will be interesting.
That speculating with bitcoin is interesting does not mean that it is not free of risks. The most important is that bitcoin is very volatile. In fact, it is extremely volatile. Its price can suffer variations of more than 10% in the same session, so speculating with the classic rules can be complicated. To this is added that there is no tangible asset that supports the value of the cryptocurrency. In fact, chay who claim that it is zero and that towards that value will tend the price.
Bitcoins in the Wealth Tax
As long as you have the bitcoins in your Bitcoin Wallet you will not have to pay taxes on them in the rent, but in the Tax on the Patrimony. As with stocks, investment funds and other savings, the money you have will be added to calculate this tax and determine if you are subject or not to submit it.
Buy physical bitcoin
Can you buy a real bitcoin coin? As paradoxical as it may seem, there are many people interested in getting physical bitcoin and as always when there is demand, it ends up appearing offer. There are basically two formulas to get a real bitcoin. The first is to buy a bitcoin coin collector. In the market you can find many replicas and interpretations of the cryptocurrency, none of them official. At this point it is more about a world of collectors than about investments in cryptocurrency.