Every start-up entrepreneur knows how limited resources can be a major strain on their new businesses. While you have to look at multiple areas of the business, raising finance, and infusing capital can get a bit overwhelming.
Add to that the pressures of looking after your family, securing your financial future, and other challenges and you are looking at a long road ahead.
However, what if there was a solution, which would allow you to both the things at the same time- secure your future and raise capital for your new business?
In this article, we are going to look at why start-up entrepreneurs should look to invest in Bitcoins as the perfect side-hustle. We speak to leading financial experts and ask them to shed some light on the issue.
Investing in Bitcoins: Here is what you need to know
In the past few months, Bitcoin has rallied strongly beyond any imagination. With investors bullish for the last month of the year, you are looking at the cryptocurrency overshooting the $20K mark easily.
Just to give you a bit of content of what could have been-
Imagine you are a start-up entrepreneur in March 2020. With the pandemic casting doubts on your new business, you are strapped for resources. If you had invested in One Bitcoin, which was trading at around the $3000 USD mark at the time, you would be looking at ‘six times’ the returns in November 2020. Meaning, you could use so many funds for your business and your personal concerns!
In other words, the growth rate in Bitcoins is what start-up entrepreneurs should be looking at. This would not only allow them to create new capital for their businesses but also reduce the dependency on high-interest rates being offered by lenders.
In addition, you could also set up a separate personal savings fund for your own personal self and your family, without any ties to your new business.
How Start-Up Entrepreneurs should start Trading and Invest in Bitcoins?
The fear and doubts surrounding cryptocurrencies are motivated to say the least. It has been pushed by other people and entities who seem to have lost out on the rising wave. Apart from bad mouthing crypto, they cannot do anything.
In recent years, a number of credible platforms like the programminginsider.com and exchanges have come to the aid of people who are not too familiar with Bitcoins. The simplicity of the entire process is such that you might be forgiven for thinking that you are using a stock market trading platform.
You do not need to have an inclination towards computers, software of advanced tech. All you need to possess is a balanced and rational outlook towards making investments. Needless to say, you need to have the risk versus rewards issues playing out in your head.
Is Now the Right Time for a Start-Up Entrepreneur to Take the Plunge?
You might be wondering that you are late to the party and it is already too late. With Bitcoin being traded at $18K and above, many of us do not have the resources to start investing. However, there are two things, you need to take into consideration-
- You can go for a fraction of One Whole Bitcoin.
- There are other credible cryptocurrencies in the market
These two things are important to know and are aware of. If you do not have the resources, you can start with cryptocurrencies, other than Bitcoin. Ethereum, Litecoin, and others are also showing great progress and you can easily go for them.
Or, you can go for a smaller denomination of Bitcoins, which are referred to as Satoshis. This will ensure that your exposure is less, that you learn things in the process, and familiarize yourself with the crypto ecosystem.
If you have been too hesitant and waiting for a long time in order to make the judgment, you need to start acting now. Every day you waste, might be taking away several hundred dollars from probable profits! You can also check this bitcoin up review for more reviews.
The Final Word
It is tough being a start-up entrepreneur, especially after the Coronavirus pandemic. Looking at high growth rate assets like Bitcoins can help you open up a credible and genuine source of income to power your new business and secure your financial future.