I jumped on the Bitcoin Bus 3 months ago, prompted by a combination of the following factors:
- Borrowing was and is becoming more difficult for property investors.
- Crypto Currency caught and held my attention for longer than other fleeting investment strategies.
- I was fortunate enough to meet some who I connected with, who I could trust and learn from, that is involved in Crypto Currency.
Before reading, please note that I am not an expert on Bitcoin or Crypto Currencies. I speak from a position of a buyer of varies Crypto Currencies.
Now fast forward to the present moment and Crypto Currency is up there with one of my favourite things to talk about. What’s exciting about Crypto Currencies is the total world revolution that is expected to take place. It’s like the Internet all over again, but potentially more impactful and widespread.
What’s come up for me that makes me think this:
- The blockchain technology behind Crypto Currencies allows for greater security and control over your finances. It’s a decentralized currency system, that is controlled by the people.
- It is becoming more acceptable for everyday use because it’s faster and allows for peer to peer transactions. We have already seen Properties for Sales in Australia advising they accept Bitcoin.
- The banks are slow at processing (transfers or lending money) and for what reason is unknown and who is behind this (i.e. banks or regulators). However, in recent announcements, the banks will be implementing same-day transfers from bank to bank early next year.
- I see it as a ‘set and forget’ investment for the future as oppose to the quick returns you can make if you play the volatility of the market.
- There are some big players, that is, the likes of Richard Branson and Bill Gates, announcing their involvement in Bitcoin, which brings further awareness and interest.
- In the US money markets, we have seen the introduction of trading Bitcoin Futures, which again, increases awareness and investment, and value perception.
- The opportunity for Crypto Currencies to be a first step into building a deposit that can than help you enter the property investment market – I believe is a very appealing strategy to first time property investors.
If you would like to know more about Bitcoin and Crypto Currency, I will be running an information session on Thursday Night at 6.30pm, 14 December.