Keep the Faith in Using Bitcoin

The mad scramble by people over the last couple of days to sell their Bitcoin holdings has spooked a lot of people, however just keep in mind that Bitcoin is going to be here for the long term, and as such you should be not worried about any you have in your digital wallet or forced to sell any Bitcoin you have!

The main problem with Bitcoin is that due to its huge rise in value over the last year, many first time investors have been purchasing it, for they too want to profit from the rise in its value.

However, there is one thing that inexperienced investors in any digital or for that matter fiat currency are always going to be at risk of doing, is panicking when they see the value dropping on any currencies they hold.

As the price has quite significantly dropped over the last 48 hours that has been the perfect opportunity for the more savvy investors to start buying Bitcoin at a much reduced cost and that is possibly something that you should consider doing too.

Ignore all of the doomsayers who have been talking down Bitcoin, for with a little bit of research on those people who are playing down that digital currency and proclaiming to anyone who is prepared to listen to them, you will very quickly discover many of them have a vested interest in Bitcoin failing, which it most certainly isn’t going to do.

If you have been completely spooked by the drop in the value of Bitcoin, then also keep in mind that to be able to turn it back into a fiat currency you are going to have to make use of the services of Bitcoin Exchange.

By doing so right now you are going to often find a delay in your order to sell Bitcoin being processed and you will certainly be hit with all manner of fees and charges too.

With that in mind I would urge you to reconsider any decision you have made to sell Bitcoin, for there is always going to be a demand for it, and any losses you may have with any Bitcoin you have purchased very recently could very easily be  recouped in the not too distance future.

Also, keep in mind that Bitcoin is there to be used and not just invested in, and you are going to find all manner of retail outlets that accept Bitcoin and plenty of casino sites that accept Bitcoin deposits too, so consider using it rather than just sitting on it.

In fact, by using your Bitcoin wallet to buy goods, pays for services or even gamble online with you are not going to be faced with fees and charges for turning it into cash and then spending that cash in the same way as you would when using your Bitcoin holdings!