Trading News since 2005

Bitcoin – 4 good resolutions for 2020

Bitcoin - 4 good resolutions for 2020

0

The countdown to the turn of the year has started. Do you already have good resolutions? If this is not the case, we have some ideas for you.

Stop smoking

We have known for many years that smoking is unhealthy. Since nicotine is addictive, we can imagine that quitting can be difficult. So we were looking for another incentive for you.

Let’s imagine that you spent 50 euros a month on cigarettes. What would have happened if you had invested that $ 50 instead in Bitcoin? Then you could have bought Bitcoin worth 600 euros. Your coins would have increased in value over time, so your investment would now be worth 660 euros.

Series marathon, ade

Yes, we know that too. With some series like Haus des Geldes, Stranger Things or The Walking Dead you just have to know how to go on and watch one episode after the other. The time you lose when watching a series could also be used more sensibly. In addition, the costs for streaming services should not be underestimated if you use several providers such as Netflix, HBO or Disney +.

For example, if you did without Netflix, you could invest more in Bitcoin. A subscription to Netflix costs you 7.99 euros per month, i.e. 95.88 euros per year. If you had bought Bitcoin for € 7.99 a month, you would now have BTC worth € 114.50.

Manage your Bitcoin yourself

If you’re a hardcore Bitcoin fanatic, there is something you can do to get the New Year off to a good start. It is best to manage your Bitcoin yourself. This means that you yourself have your private keys. Your private keys give you access to your coins. When you save your Bitcoin at an exchange, the exchange has these private keys.

This can go well until a hacker targets this exchange. Unfortunately, nearly $ 200 million worth of cryptocurrencies were stolen this year alone. As long as you manage your coins at a crypto exchange, you have to rely on the security measures of the exchange.

When you buy a hardware wallet, you have complete control over your cryptocurrencies. In this case you do not have to rely on anyone and you are responsible for the security of your coins.

Do not constantly check the course

Cryptocurrencies can also be addictive. There can be a kick if the price rises by ten percent in one day. But don’t let crypto rule your life. Keep a cool head and take time for your friends and family. If you really believe in Bitcoin in the long run, you don’t have to control the rate every five minutes!

Leave A Reply

Your email address will not be published.