What do you need to prepare to buy Bitcoin? (Can you make money by buying Bitcoin?)

What do you need to prepare to buy Bitcoin? What do you need to prepare to buy Bitcoin?

1. Hardware equipment for purchasing Bitcoin. Computers, laptops, or personal computers all require these hardware.

2. Before buying, first understand some technical details. For example, Google Cloud and Alibaba Cloud, and then use your phone for operations (such as fingerprint recognition).

3. Install software. You can choose the version of the Apple system or the plug-in version of the Android platform and connect to a wallet.

4. Download a free browser application.

5. Install a free application to run Bitcoin nodes.

Can you make money by buying Bitcoin?

Today, I will tell you about the two questions of whether you can make money by buying Bitcoin:

1. Why should you buy it?

2. Is $10,000 a reasonable price?

Let’s look at the difference between the two.

1. If you bought $1 million at a certain point in time, would the price go up or down?

Because there is now a large amount of new capital entering to invest in this currency (of course, institutions and major holders are among them). These people will choose to hold Bitcoin or other tokens for long-term investment. So from the current situation, if you only buy Bitcoin for about $100,000 and then buy 500,000 coins before May 30th next year, it will most likely be in a state of loss by the end of June this year.

2. Since the price is so high, you cannot sell it, so should you hoard these Bitcoins?

First of all, if there is no large amount of chips entering the market during a certain period and it is unable to make a profit, what should you do?

If the market has been unfavorable during this period and you still want to continue buying, then your principal will be affected and you will incur many risks, such as being trapped or losing money. However, with the recent continuous rise in the market, investors have gradually turned their attention to the field of digital currency, especially digital assets. In this process, some minor events have occurred that have caused collective panic and crash in the entire digital currency field.

3. For those who want to make quick money through short-term trading, they often need to go through a long waiting period before they can truly enter the market and make a profit. Therefore, when people increasingly feel that their capital is sufficient, they are naturally more willing to take risks. So there are people who are willing to take such risks and start getting involved in trading. At this time, they begin to consider the digital currency projects they are in contact with, rather than just using idle funds in their hands to make purchases.

4. If you bought some Bitcoin before 2018 but have not fully invested in it and have been speculating on this project, then you have to treat this situation early and not focus too much on the development prospects of this project itself and the investment logic behind it. It is important to manage the risks to ensure that your investment ideas are executed correctly. 2

3. As for whether this project can be successfully implemented, I think it is still not very certain at the moment. However, even so, it is impossible to guarantee its eventual realization because the current blockchain technology is still immature and lacks regulation, making it difficult to bring substantial breakthroughs to the industry.