Author: Doris Kelly

Should You Invest In Bitcoin Going Into 2018?

Ever since the first investors of Bitcoin (back in 2008) became overnight millionaires, many people have at least contemplated investing in Bitcoin.

In 2017, Bitcoin is trading at around $10,000+ and the trend has been a rising one although not as exponential as it was for the first investors.

Before you actually put your money on Bitcoin investments going into 2018, there are various things to consider including what it really means to invest in Bitcoin.

Please note this is not financial advice, but this brief review of bitcoin in 2017 will help you clarify a few things:

What does it mean to invest in Bitcoin?

There are various ways to invest in Bitcoin.

The first and obvious one is buying and holding where you buy and hold onto Bitcoin in hopes that the value will rise.

This is the same strategy early investors used and they surely made a fortune from their exploits.

However, the Bitcoin value does not rise as significantly as it did in its early stages.

It also faces competition from other altcoins that may have a better change of increasing in value.

Nonetheless, Bitcoin is still the most popularly used cryptocurrency and its value is expected to rise.

It is important to do your research and lookup how Bitcoin has been performing over the last years.

The value may have shot into the $10,000 mark in 2017 and is steadily rising, but this does not predict a rise in 2018.

If you choose to buy and hold onto Bitcoin anticipating a rise in value, keep the following in mind:

  • Do not invest more than you can afford to lose (this is a basic investment principle).
  • Move your Bitcoin to a wallet, preferably a hard wallet (e.g Ledger Nano). If you cannot afford a hard wallet, use a paper wallet instead.
  • Only buy Bitcoin from reputable exchanges that have been in the industry longer (GDAX, CoinBase, Gemini etc)

Bitcoin Trading

This is another form of investing in Bitcoin.

Any review of Bitcoin in 2017 will tell you that only a few experienced people can effectively make profits from trading Bitcoins.

It involves buying Bitcoins when the price is low and trading them when the price rises.

It requires experience, knowledge and a keen eye on the market. It is more like stock trading albeit done with more frequency.

The price of Bitcoin at any one time is the average price across all exchanges.

Having knowledge of the price and using analytics to gauge trends can help you invest wisely and make substantial profit from your trade.

Since newbie investors are often ready to spend money on buying Bitcoins, investors take this opportunity to target and exploit them by trading for prices than the current market value.

Investing in Bitcoin Mining

This is another way to invest in Bitcoin.

It involves investing in expensive equipment used in mining Bitcoin and then trading the coins for dollars.

Although it has the potential to provide an endless stream of income in the long haul, the huge upfront cost of buying equipment outweigh its benefits at least for newbies.

As an alternative, most people invest in Bitcoin companies that own these equipment and share profits made when the Bitcoins are traded.

This kind of earning through interest is an obscure scheme that requires keen review before you trust such companies.

There are a lot of these companies out there like USI Tech and BitConnect. BitConnect actually has a coin that they launched through an ICO and their market cap is now over $1 billion which is quite impressive, although some publications have outed BitConnect as a scam. See this review exposing BitConnect: http://nobsimreviews.com/bitconnect

There is a fairly new category of Bitcoin mining known as cloud mining.

These are companies that allow you to mine Bitcoin through them. One of the biggest ones right now is on the Bitcoin.com website: https://pool.bitcoin.com. I haven’t tested this however it does look like an interesting investment vehicle.

Most cloud mining offers are scams that will escape with your money while the genuine ones are bad investments.

Why should you spend on a cloud mining company when you can spend the money to buy actual Bitcoins?

Is it safe to invest in Bitcoin into 2018?

From the review of Bitcoin in 2017, investing in Bitcoin is not only a matter of whether you should, but also about how to do it.

Like any other investment, it is important to first find out how it really works and what potential is available.

Bitcoin offers opportunities to make profit on various ends, but it does not come as easily as most people assume.

2017/2018 is very different from 2008-2014.

Bitcoin currently trades at around $14,800 which is a lot of money compare to the $20 of 2008.

In order to make profit, you will need to think long term and explore other forms of investing other than buy-and hold.

Nevertheless, Bitcoin still presents your best opportunity to make money in the cryptocurrency world.

Learn Bitcoin from experts

Check out this video and see how you can learn more about Bitcoin from experts:

Gameflip – A Company Worth Investing In?

Gameflip is a new company that is going to ICO in order to raise funds.
ICO’s launch all the time (see ICO reddit thread) but it’s hard to know which are good and which you should avoid.
How does it all work? Well, you probably know that the gaming industry is a huge business.
On their website, Gameflip says that there are over 2 million gamers selling and purchasing gaming items, that they have more than 10 million views monthly, and millions of dollars in transactions monthly.
Their goal as a company is to have a transparent platform for gamers.
The digital market is a huge area but it’s not always he best. Digital goods are often locked into a game. For those who are avid gamers, you probably know how serious this can be. Some gamers will pay hundreds or even thousands of dollars to increase skill levels, purchase weapons, or unlock boxes. In a lot of ways, they live an alternate life.
But what happens when they decide to give that up and go back to reality? What does that person do with the investment that they put into the game and the hours that they spent? Well, if there isn’t a way to make money from their investment, then it’s not worth anything. That means when they decide to shut off their game and cancel their monthly subscription they’ve lost a great deal in the process.
It would certainly be beneficial if they could sell their digital goods or transfer crypto-token to another game and let someone else benefit from their skills.
That’s where Gameflip comes in. There is a huge market for something like this and it has not existed until now. Savvy gamers have, in the past, sold their accounts through public forums, third party sites, and community markets but this system isn’t ideal.
These gamers often face friction and may lose accounts. They also can end up with nothing. Fraud in this area is commonplace which is why some gamers have turned to Steam Community Market. This is more of an official marketplace where gamers make transactions. While fraud is not a huge problem here, it does have the following problems: * No cash provided
* Money earned can only be spent for other games on Steam
* Transaction fees up to 15%
* Zero transparency
* Some associate with illegal gambling
* Only supports Steam digital goods
FLIP is a crypto-token that’s used by Gameflip and can be thought of as a limited supply. It’s easy to understand by its three primary characteristics:
1. Fractionally divisible
2. Units are fungible and transferable
3. FLIP runs through Ethereum blockchain tokens
Gameflip Pricing and Distribution FLIP base rate is: 1 FLIP is equal to 0.005 ETH 1 ETH is equal to 200 FLIPs. ETH = Ethereum (see ethereum.org)
It’s important to understand that FLIP is capped to only have a supply of 100 million. When all of these tokens have been issued, no new ones will be created.
How Does Gameflip Help?
Gameflip is trying to expand the oversight of gaming digital goods. They’re trying to create benefits for both gamers and game publishes by helping gamers to buy, trade, or sell digital goods. One of their methods for doing this is using smart contracts to eliminate fraud. While this could be more of a problem until people adapt to digital currency, gamers will be able to send goods and FLIP to each other if they have Ethereum compatible wallets like Trezor.io
The benefit of using FLIP is that gamers will be able to sell more of their digital goods at a high price, increase the longevity of games, and create new streams of revenue.

Gameflip Conclusion

 After reviewing their website, Gameflip does not appear to be a scam.
They have worked hard to bring together a team of gamers, technology experts, and entrepreneurs.
For those that may be cautious when it comes to investing, it may be beneficial to wait for a while. Since it can take time for businesses to iron out the kinks, it may be a good idea to watch Gameflip and then use their website in the next few months.
Additionally, keep in mind that when you make investments, don’t spend more than you feel as though you can lose.
It’s possible that with limited supply, Gameflip tokens may go up in value but this is certainly not guaranteed.
For more reviews of upcoming ICOs check out The Token Investor