The cryptocurrency market is characterized by high volatility and risk for investors. Failure to understand the pricing of digital assets will result in loss of funds. For example, in April 2021, BTC hit $64,000 but lost 50% by the summer. Such volatility is associated with processes in the global economy and the policy of states concerning cryptocurrency. Therefore, before deciding whether to buy Bitcoin with credit card in 2022 or not, you need to assess the current situation in the market.
The value of coins depends on the trust of users. Real assets don’t back BTC, and quotes fall after every negative statement by world leaders, big business owners, or investors about cryptocurrency.
So, before you buy BTC with credit card for USD, you need to:
- Determine why you need it — whether it is a long time investment or trading tool;
- Consider actions in case of a sharp collapse in the exchange rate;
- Determine the levels of fixing losses and profits;
- Remember that you can’t make rash decisions in emergencies.
If you want to know whether it is profitable to buy BTC with debit card, you have to understand what advantages this cryptocurrency has. Therefore, we are listing the following Bitcoin features:
- No dependence on any place. There is no control over it from the state and the banking system. The commission charged for transactions by services for the exchange or storage of funds is minimal. Also, transactions that are made with Bitcoin can not be canceled.
- Restrictions in the issuance of this currency raise its demand in the world market for most people. They want to start investing in this currency earlier so that there is a high probability of receiving income in the future since the demand for it increases significantly.
- All app transactions are anonymous, allowing people to keep all their card information about themselves secret if a person doesn’t want to disclose it.
- Easy start. There are no age restrictions if you want to buy Bitcoins with credit card no verification anonymously. Registration is much more simple than you think. All you need to work with Bitcoins is access to the Internet.
- Inaccessibility to sanctions. No one will be able to limit transactions with Bitcoins with the help of sanctions.
“For” and “Against” Arguments when Buying Bitcoin
Despite price rallies, the main cryptocurrency still attracts investors, increasing attention from states’ central banks. The main arguments for buying it:
- Expert statements about the new “digital gold” role provide great support for Bitcoin;
- High popularity;
- The maximum rate among other coins;
- High capitalization;
- The almost complete absence of inflationary risks, despite the strong volatility.
Arguments against buying it can make you seriously think before investing:
- Sharp jumps in the Bitcoin rate bring large losses to the investor;
- The price is influenced by careless or intentional statements of influential people on social media;
- High commissions when withdrawing assets from the exchange app;
- The risk of being left without investment if the financial regulator decides to ban cryptocurrency or changes the legislation;
- Lack of clear legal definition in most countries of the world.
Whatever they say, Bitcoin is the best digital currency for investment. According to analysts and crypto-experts, the production of Bitcoins will be stopped in 2040. A limit of 21 million coins will be fixed. Then people who buy them now on crypto exchanges like Switchere will be able to get a fortune when they sell them. In addition, Bitcoin has many advantages that are a good reason to buy Bitcoins with debit card instantly. Nevertheless, it is important to understand that investments in cryptocurrency are risky, and each person decides whether to buy Bitcoins with debit card or take the risk of investments.