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5 Reasons You Should Not Get into Bitcoin Trap

We are your friend, philosopher and guide in this financial world and thus we will suggest all to keep away from the frenzy of Bitcoin or virtual currencies. If it is your hard earned money than it is better to keep it safe in the bank which will give you interest but will also keep your capital safe. The main problems which one faces while undertaking transactions with Bitcoin are as following:

(a) Buying Bitcoin is easier but when you are going to sell it to get the hard cash that is the time, you will hit the real hard wall.
(b) Only people hallucination backs the bitcoin.
(c) There is a report that around 1000 people own 40 per cent of all Bitcoins. And these people are artificially keeping bull run of Bitcoins going by not selling them.
(d) You might be undertaking the transactions in a non legal way and tax authorities may soon catch up with you. The money entering Bitcoin is mostly hawala money or drug maphia lords money.
(e) Lastly, wide gap between buy and sell price suggests that liquidity is poor.

So, keep away from this mad virtual currency and it may rise further also as their is no end to greed. However, if it is your hard earned money keep it safe and donot get carried away by greed factor. People may say you that I told you to buy at $3000 mark and now it is $17000 and it may even hit $40000 mark but it is better to be safe than sorry as no tool exists to arrive at a correct value of Bitcoin.

You can understand all about Bitcoin mining here and can understand that how a small policy change affects Bitcoin rate here.

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