The short answer is no. The risk of failure is ever present in the case of operations with cryptocurrencies. All attempts at finding foolproof answers to the popular online search engine query “can I buy Bitcoin cheap” will lead to exchange websites, where users will be faced with the grim reality of having to dive headlong into the difficult and challenging realities of the digital tradable units market. There are many risks associated with the crypto market’s many makings and even more risks lie in store if one wishes to try their hand at trading. These sectors of the digital economy are not for the faint-hearted and cannot be treated lightly, as they will require considerable injections of capital and the fortitude to tolerate inevitable losses.
Exchange service commissions are just one of the issues potential would-be traders have to take into account when deciding to try their hand at scalping or any of the other strategies available to digital unit enthusiasts. The truth of the matter is that risks are everywhere and they extend to almost every aspect of cryptocurrencies. So, when deciding to purchase Bitcoin or NFTs, users have to take into account the potential tradeoff of such an acquisition.
More importantly, every digital currency has a potential lifespan of usability, which means that there might be a terminal threshold of time when this specific asset becomes useless and loses all residual intrinsic value. Though this does apply to virtually any asset, the specifics of the digital units market are much more dynamic, meaning that projects fade from existence faster than they can actually bring in any profits to their investors.
When evaluating a potential cryptocurrency for viability, users must consider the project that released it. This is called fundamental analysis, which involves careful examination of multiple factors that constitute a project. Among them are: The team; The product; The reputation; The capitalization; The potential applications; The prospects.
These and many other factors play a crucial role in shaping a crypto unit. Lest we forget, the law of supply and demand applies to any digital means of payment and means that the price of a cryptocurrency will be decided by the level of its usability. If Bitcoin is to be taken as a benchmark, it would be possible to indicate that the given asset is accepted at over 17,000 retail outlets around the world as a means of payment. It is also important to note that the price of Bitcoin is just as much a product of speculation, which means that application outside the trading scope plays a rather marginal role, since its demand as a trading instrument becomes fundamental in terms of price dynamics.
However, in order to learn more about the inner workings of the digital tradable units market, users have to conduct long and tedious research. As for the popular query “can I buy Bitcoin with PayPal” it is the starting point of many traders in the crypto space, as it allows them to enter an exchange and start off with a small amount of capital. Once users create an account, they can top up their balance using PayPal or a bank card and stock up on some digital assets that they deem suitable for future trading.
There is no such thing as a risk-free unit of digital account and Bitcoin is no exception. Whether users resort to an exchange to buy their first stablecoins or some tokens released by a newfangled Play-to-Earn project, the risk of depreciation and loss of invested capital is omnipresent. Many novice users erroneously believe that the market slump is a good opportunity to enter the market and stock up on assets that have depreciated. In fact, said depreciation is not a guarantee of a price revival. In fact, it could mean that the assets in question are in their death throes and will not survive the crypto winter. Whatever one’s reasons are for entering the cryptocurrency market, they should bear in mind - losses are possible and the chance of a bull run are equal.