The high bitcoin exchange rate can make people who see it tempted and countless times to start investing.
Especially with the berandai, if the first buy bitcoin worth Rp 1,000 US dollars, or about Rp 13.3 million only, its value now has jumped to the range of 39,000 US dollars or equivalent to Rp 518 million.
Supposing like this is certainly in the heads of many people. But that does not mean it's the right thing to do.
As reported by Kompas.com from CNN, Friday (20/05/2018), if you are looking at investments in bitcoin, you should first consider these three things.
1. Bitcoin is like a lottery
Your chances of earning big profits from purchasing bitcoin just like your chance to win money from the lottery. The level of success is difficult to gauge.
If you really want to try bitcoin investing, according to Grealish, you must first prepare mentally. Set the mindset like an angle investor who sincerely pours money into new stubs.
"You must be prepared to lose everything," Grealish said.
2. The value of bitcoin is difficult to predict
Bitcoin is a digital currency, not a company. Therefore there is no money flow that can be analyzed or financial statements to determine the time of investment.
The bitcoin volatility was so wild. For example, in December 2017, there was one condition that showed that bitcoin exchange rate dropped to 1,000 US dollars or equivalent to Rp 13.3 million in one hour.
However, people who believe bitcoin assume that the digital currency will be used by many people in the future. Either when it happened.
"Bitcoin is a new thing to be prompted by speculation, and we advise high-level awareness of it," Grealish said.
3. There are other investment options
If indeed you have the funds and are eager to invest, there are still many other ways to choose.
For example, you could make a special savings for emergency situations or make a pension fund savings, which is safer.
"If your money is limited, playing bitcoins is risky, speculative, you can allocate the money to something else," advises Chantel Bonneau, a financial planner from Northwestern Mutual.
"Something interesting does not mean good to be approached," he concluded.