What Should Investors Do with Their Bitcoins?
Believe me this is my first ever article but in order to help investors in saving their hard earned money to be wiped off due to the political heat of Bitcoin scaling, pushed me to provide the possible solutions below. Even popular bitcoin Entrepreneur Vinny Lingham who is famous for accurate bitcoin price prediction has nearly sold his 90% of bitcoins. But I don’t say to sell the bitcoins bluntly. I would recommend different methods depending upon different type of investors whichever will suite you best, you can follow it.
a) Convert to safe Altcoins– First and most recommended suggestion is to convert their bitcoins into safer and authentic alt coins which are good enough to be recognised as a cryptocurrency in case of any trouble to bitcoins. I will recommend the currencies which I have converted my Bitcoins into as well as which are good projects. But I would recommend you to do your thorough search before investing into these coins. Beware of some scam coins like Asia Digicoin, Onecoin or any other possible coins which don’t have good technical team or background or market presence. Some recommended coins are Ethereum (ETH), Dash, Monero, Zcash, ethereum classic, and litecoin.
How to convert Alt Coins- To store coins like Ethereum(ETH), Ethereum Classic(ETC), Dash, Zcash, litecoin, you don’t need to look for different apps. Just search for “coinomi” wallet on Android Play Store or Apple’s App Store. It has built in exchange from where you can convert Bitcoins to these alt coins and keep these coins saved.
b) Sell Bitcoins in exchange of fiat currency- Yes you read it right, if you think that converting your bitcoins to alt coins can be a mess for you which actually wont, you can sell your bitcoins to your local exchange from where you bought in exchange of your local currency. I don’t want you to do this until you don’t have any other alternative available. Keep your fiat money saved until bitcoin scaling issue gets resolved.
c) Hold your bitcoins to double the quantity of your bitcoins- Yes again you read it right. But double! How come? Actually if hard fork happens, which anyways is inevitable according to me, the chain will split into two chains as mentioned earlier that means, BTC will split to two coins one is the original BTC and the other one is BTU. But this will be little cumbersome process for most of the people, so I advise to follow either of the two methods as mentioned above.
All in all everybody wants bitcoin to succeed but the lack of formal governance has put a big question mark on future of Bitcoin again but if we go through history of Bitcoin, it has survived many battles very strongly, I hope that it will survive the recent scaling issue too and bitcoin community will solve the problem wisely either through compromise or in some other way.
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