Is Bitcoin Legal? How can I make money with it?
If you’re searching for this the chances are high that you are new to the cryptocurrency space but are interested in making money by investing in new digital assets such as Bitcoin, Ethereum and other Altcoins (coins or tokens relating to other blockchains or applications). The digital assets as a new class of investments have been highly productive for investors and traders. Bitcoin, by some measure, has been the best performing asset globally for a few years now. It has continued to generate returns for investors and traders consistently.
The question you have is, will I get in trouble if I invest in Bitcoin? Is it legal to buy Bitcoin and hold it for gains?
In most situations it is best advised that unless you are 100% sure about your country’s regulations allowing you to buy and hold Bitcoin or other digital assets such as Ethereum or Altcoins, stay away until you are sure. Potential legal hassles though do not mean that you cannot profit from these markets.
The question you really should be asking is, how can I make money from Bitcoin without buying it? Can I make money when Bitcoin is falling, and Bitcoin prices are crashing?
The traders have made good returns from Bitcoin; however, it has not always been a straight line up. There have been several price crashes wherein the same investors and traders have lost a lot of money. Sometimes more than they can afford. It is also technologically challenging for most newcomers to the space to understand how to keep their Bitcoin and Ether safe from malicious attacks.
Most investors, who buy and hold an asset like Bitcoin, do not understand how they can make money while the prices are dropping. Not unless they understand complex derivative products and risky highly leveraged swaps and futures. This leaves the traders exposed when the markets are falling.
If you want to always be in a position to profit from the market price movements, you need to find a platform that will allow you to earn a return and make money whichever way the market is moving.
Most of the websites and platforms out there today will offer you highly sophisticated, extremely leveraged products that get 76% of all traders in hot water.
You need to enter products that are easy for you to understand and do not expose you to leveraged positions. Best is to not have any leverage whatsoever, so you can never lose more than you put in and you are not required to top-up your margin money every so often.
CloseCross solves all these problems for you and allows you to participate in peers-to-peers or people-only markets, where you can predict the price movements or exact price of Bitcoin at a time in future and make money without needing to buy Bitcoin itself.