- It's a quick way of moving money
(It's pretty expensive moving money, especially if you want to do it quickly. Whereas to buy Bitcoin from a bank account in one country and to sell it with the money going to a bank account in another country is, depending on a few things, free of admin charges, currency charges and banking delays)
- It is untraceable and untrackable up to the point when it is sold for real money.
- Its unit price absolutely depends on more people wanting it than have it and a belief that will always be the case. If not supply & demand will drop it through the floor.
- Faith that it can always be exchanged for real money. Countries/banks are likely to step up the focus on the source of funds converted from bitcoin et al as part of money laundering and proceeds from crime legislation and regulation.
It is as close to gambling as one can get and thus should be done only with money that you can afford to lose. Not my sort of investment at all. Risk/reward ratios are a thing for a reason.
That said, it is possible to win big, though knowing when to quite would be smart.
Last edited by: No FM2R on Mon 11 Jan 21 at 15:08
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