Is Now the Best Time to Buy Bitcoin?

When should I buy Bitcoin? Should I invest in Bitcoin today, or tomorrow?
These are the questions that kept me from buying for a long time. I kept waiting for the price to either go up -- a sign that it would keep going up -- or go down -- so I could buy the bottom.
I never timed my buy “correctly.” So instead, I employed a few strategies.

Here are a few highlights. The best time to buy Bitcoin is:

1. When the adoption is low. The lowest was, of course, in 2010. But, if you think about it, the adoption is still low.
2. When the price is low. The word ‘low’ is relative, of course. In 2013 Bitcoin’s all-time high was $1,400. But in 2019, Bitcoin’s lowest price was $3,300. So it’s all relative. My point is: don’t buy when the price has been rising every single day for a month. Instead, buy when the price has been low for a long time. The price should also influence how much you should invest in Bitcoin.
3. Before major updates and improvements. Bitcoin will have amazing new technologies built on top of it, including lightning network and atomic swaps. These will improve BTC, make the news, and inspire more people to buy.
4. Before each Bitcoin “halving.” The halving is when BTC miners get paid half as much Bitcoin as before. This happens like clockwork -- once every 4 years. Because supply is trimmed down -- and demand stays the same or increases -- the price is bound to go up!
   And of course the most crucial part: buy Bitcoin when you feel comfortable spending that money. So is Bitcoin a good investment? Don’t invest more than you can afford to lose -- because then you become prone to making bad decisions!

Is it Safe to Buy Bitcoin?

I won’t lie, plenty of scams and hackers still exist in the cryptocurrency space. Buying Bitcoin and keeping it secure requires a little bit of effort.
If you own gold, you can stuff it in a safe and, if you forget the key, you can hire someone to break into it. But with BTC, if you lose your private key, you lose the BTC forever. Steps need to be taken to prevent loss.

The basics can be summed up in four points:

1. Buy only from reputable exchanges with a good reputation.
   

2. Enable 2-Factor authentication (2FA) and use strong passwords.
   

3. If you keep your BTC offline -- get and use one of the best hardware wallets available.
   

Who is Buying Bitcoin?

Since Bitcoin is an industry with hype surrounding it, it's no surprise that many celebrities chose to invest.
Some famous people who own Bitcoin are billionaire investors -- others are celebrities, athletes or actors. Several famous musicians have even begun to offer their music in exchange for Bitcoin or other cryptocurrencies.
Gwyneth Paltrow joined Abra, a company used to help buy and sell BTC, as an advisor during an episode of Planet of the Apps. In 2016, Mike Tyson launched a Bitcoin wallet during his partnership with Bitcoin Direct.
Other celebrities who bought Bitcoin and cryptocurrencies include Paris Hilton, Snoop Dogg, Ashton Kutcher, and Jamie Foxx, as well as many other stars.
That can show us one more reason to invest in Bitcoin and follow the trend from famous people.
But you don’t need to be a rockstar to own BTC.
A recent survey shed some fascinating light on the demographics of those who are buying Bitcoin.
The survey said that those between the ages of 25 and 34 were the most likely to invest in Bitcoin as an investment for the future, or to be open to using Bitcoin for purchases.
The survey also pointed out that, while most owners of BTC are male, a recent shift has begun as more women own cryptocurrencies.

How Much Bitcoin Should I buy?

When I invested in Bitcoin for the first time, I put only tiny amounts of my paycheck in to dip my toes in the water.
As I grew comfortable buying, selling, and storing my BTC, I invested more. So the answer to “how much Bitcoin should I buy” … depends on where you are in your journey, along with many other factors.
Since each person’s situation is incredibly different, satiate your curiosity by checking out our full guide on how much to invest in Bitcoin, based on all the lessons we learned along our investor’s journeys.

How much money do you need to buy Bitcoin?

Since Bitcoin is divisible up to 0.00000001, your minimum Bitcoin investment can be as small as an exchange is willing to accept. Coinbase, for instance, will accept as little as $2.