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Probably not. Bitcoin is an immature technology and holding it is extremely risky. Bitcoin’s value is highly volatile. If you buy at the wrong time, you could lose as much as 80 percent of your investment in a matter of days.
Even worse, bitcoins are difficult to store securely. You can save bitcoins using an online wallet service, but this type of service hasn’t had a great security record. Several wallet firms have gotten hacked or gone out of business, taking their customers’ deposits with them. You can also store bitcoins on your own hard drive, but then you’re vulnerable to hackers, hard drive failures, and other technical glitches.
So unless you have significant technical expertise and a healthy appetite for risk, you should probably leave this to the pros.
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What is Bitcoin?
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Can you explain bitcoin in a 2-minute video?
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What’s the case for optimism about bitcoin?
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What will people be able to do with Bitcoin that they can’t do with conventional financial systems?
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Who is in charge of Bitcoin?
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How does the Bitcoin network process transactions?
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Why does the Bitcoin network use such a crazy scheme to process transactions?
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What incentive do people have to help process Bitcoin transactions?
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How do people get bitcoins?
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Is volatility going to be a fatal problem for Bitcoin?
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Isn’t Bitcoin just a currency for criminals?
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What’s up with Bitcoin competitors such as Litecoin and Dogecoin?
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Isn’t Bitcoin’s fixed money supply going to create deflationary problems?
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Is using Bitcoin a good way to fight inflation?
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Does Bitcoin have a security problem?
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What is the future of Bitcoin?
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