Bitcoin (BTC) has been around for a while, but it is still one of the most popular and talked about cryptocurrencies. Many have asked: Should I buy bitcoin? Or even wondered Is it too late to buy bitcoin?
The concept of bitcoin and cryptocurrency have faced many criticisms and challenges that have threatened its existence. But it still stands strong, as the world’s most popular cryptocurrency. It was created in 2009 by an unknown person and released as an open-source software in 2010. Bitcoin can be used to purchase goods and services from stores, or it can be traded for other currencies on cryptocurrency exchanges.
There are many reasons why people are buying bitcoin. Some buy it for investment purposes while others buy it for its future potential as a digital currency. There are also those who hope to make money by “HODLing” or holding onto their bitcoins until the price goes up. However, there are also those who think that it is too late to buy bitcoin and it is better to wait until the price has come further down and the best time to buy bitcoin presents itself again.
The best time to buy bitcoin in the ICON ecosystem is now, as BTCB has become available on ICON’s decentralized finance projects. You can buy a partial bitcoin or save up and become a one-coiner. Bitcoin is available on ICON, so it’s worth considering whether now is the right time to buy bitcoin for cash.
Decentralized Finance and BTCB
Decentralized finance projects on ICON are using blockchain interoperability technology and leveraging the BTCB token in order to make buying Bitcoin available and easy for community members in the ICON ecosystem.
“BTCB is a BEP2/BEP20 asset wrapped (pegged) on BNB Beacon Chain/BNB Smart Chain with a 1:1 peg to BTC locked on the Bitcoin blockchain. BTCB operates on a centralized and trust-based model.” Read more about this here.
Balanced Network and the Nexus Portal allow users to interact with Bitcoin on the ICON blockchain. Users can bridge and/or buy a partial Bitcoin within a few clicks. It is easy to find out how much bitcoin is $100 on the Balanced Network decentralized exchange. At the time of writing, a user will receive 0.006 BTC in exchange for $100. How much is 10 bitcoin worth? At the time of writing, this will set you back roughly $170,000.
Creating a crypto wallet
A crypto wallet is a digital wallet that stores the public and private keys which are used to identify the owner of the cryptocurrency. If you’re wondering how to create a crypto wallet, you can read this post about creating an anonymous crypto wallet.
Once you have set yourself up with a crypto wallet address, you can log into a decentralized exchange. Decentralized exchanges and other decentralized finance projects offer access to anonymous crypto wallets and enable the buying and selling of crypto coins like bitcoin.
Users of the ICON blockchain can easily create a crypto wallet with Hana Wallet. If you’re wondering if this is the best time to buy bitcoin, be sure to consider the high volatility of cryptocurrency and the overall macroeconomic climate.