Bitcoin Useless: Nowadays cryptocurrency is on the trend especially everywhere people are talking about the bitcoins which are nothing but the digital currency. Six years ago it was a cheaper coin. But it is spiked to the unexpected level as 17,000 dollars at the end of 2017. It seems to reach as high as 20,000 dollars in 2018 and also expecting the fall off period of bitcoin after that.
Swedish co-founder of Bitcoin.com, Emil Oldenburg, claims that Bitcoin is “as good as useless” and has no future as a tradeable currency. Bitcoin is one of the oldest websites to establish cryptocurrency resources which increased profitably this year with good explosion. Swedish co-founder of bitcoin.com has said in an interview about investment on Bitcoin at this time is risky.
Why Bitcoin is Falling Down?
Bitcoin COE has currently sold all his bitcoins and moved over to Bitcoin Cash which is also a digital currency. The transaction fee for the bitcoin is too high as 26 dollars which is higher than the regular bank for international transfer. The main reason for his change to Bitcoin Cash was a high transactions cost in recent times and it also takes several hours for bitcoin transaction. Bitcoin.com co-founder Emil Oldenburg said:
“I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,”
People see bitcoin as a digital gold. The old bitcoin network is as good as unusable. But now people started trading it and they came to know how it works and hence they started to sell. So he suggests that rather than Bitcoin, Bitcoin Cash is feasible for lower transaction fees and for quick transfer. It has recently increasing high in recent times and it will have a better growth in the upcoming years.
Newcomers who are willing to invest in Bitcoin will definitely end up in losing all their money as Bitcoin spike timing is at the edge. It will definitely fall off in next few months. So it is suggested to invest in some other developing currencies.
How to Buy Bitcoin Cash?
The best way to buy bitcoin or Bitcoin Cash is from Binance website or Bitfinex website which are safe to buy and sell the cryptocurrencies. Currently, Bitcoin Cash keeps on increasing which can be viewed in the Bitcoin Cash Live Chart. To buy these cryptocurrencies, first to sign up on the ethx website where one can transfer the money from bank account to invest in the cryptocurrency.