Bitcoin is going crazy, with the latest Bitcoin prices topping $15,600 or more. The “manic rally” of Bitcoin, as the Wall Street Journal calls the latest price surges of Bitcoin on Thursday, witnesses Bitcoin prices hitting new highs each day. Bitcoin has been dubbed a volatile cryptocurrency that could make millionaires out of early adopters and beyond – depending on how much of a surge continues with the digital currency.
With the Bitcoin cryptocurrency booming, more average consumers are wondering how to get in on the digital cryptocurrency boon. Bitcoin is just one of the many cryptocurrencies, which include Bitcoin, Ethereum, and Lightcoin, that have experienced unprecedented growth in 2017. As a result, more people in the mainstream sector have reached out to figure out how to invest in Bitcoin. According to financial expert and author James Altucher, plenty of cryptocurrency scams and Ponzi schemes exist, but there are legitimate ways to invest in the Bitcoin fever, even if the investor doesn’t have a lot of money to do so.
For example, an investor could use a website like Coin Base to connect their bank account, credit or debit card to their “BTC Wallet” – or Bitcoin wallet – and purchase the smallest amount of Bitcoin. At one point in time on Thursday morning, a $5 investment would secure 0.00025676 worth of Bitcoin, or BTC, with $4.01 buying the Bitcoin and $0.99 going towards a Coinbase fee.
Bitcoin, according to Forbes, has experienced eight days of surging, with the new all-time high representing a gain of more than $3,500 in a mere 48 hours. The price surge is being blamed on a likely coming price correction, although the surge in Bitcoin is being called gravity defying by the publication. Once an investor purchases digital currency via Coinbase, their investment is instantaneous with the firm based in San Francisco, which allows customers to place a specific dollar amount into their website that they would like to purchase, with the site determining the amount of Bitcoin that can be purchased without difficult calculations needed.
Bitcoin, at the moment, is a cryptocurrency that is more of a buy and hold market at the moment, according to Forbes.