I'm new in the world of Bitcoin yet, and my first toght was that I my buy BTCs for dollars and then sell them if the exchange rate is bigger.
Would it be worth? Or I shouldn't even give it a try?
2 Answers
It would seem alot of people may have made money with it.
On the other hand, you are prone to alot of risks. Many bitcoin exchanges have gone bankcrupt, after having their clients' bitcoins stolen or after being accused of various crimes, typically violating anti-money laundering rules or failing to have the proper government licenses for handling money in the way they do. And their banks often seem to limit their transactions, meaning that getting money on to an exchange and back off again can often be surprisingly difficult.
Also consider that nobody knows if Bitcoin is here to stay or if it is just another manifestation of the famous Tulip bubble. If you view it as a big gamble, be prepared to lose all, either by hanging on to it until Bitcoin become valueless (say because something better or more fashionable appears) or by buying high and selling low (if you try to avoid the other alternative by selling, only to see the price rebound).
In any case, good luck!
Well there are certainly a lot of people making money like that. But you should be aware of a few things:
1st BTC is a high risk investment so you can easily loose all the money you invested for a couple of reasons. So don't invest any money that you need.
2nd money on a Bitcoin exchange is not equals money in your bank account. In fact it can be very difficult to transfer money from an exchange back to your bank account, depending on which exchange you are using and where you live.
