Is bitcoin worth the investment ? How hard is it to sell bitcoin and receive money (currency) transfer or cash back ?
i am hesitant to say yes, but i can give you a brief glimpse into my experience with bitcoins.
I purchased 10 bitcoins when the market price was 310$ canadian.. i was in a hurry to sell when they reached 1000$, and sold all 10. I thought i made out like a bandit lol. When i saw the bitcoin value reach 10k, i was thrown into a long enduring state of rage and regret and remorse, it was very hard for me to accept the potential payout i let fly by me..that 90,000$+ that i missed out on could have literally changed my life, i could never accept that i was already in the game with a tiny investment and my apprehension and greed to make a quick cash-out turned out to be such a massive mistake!!!!.. i was certain i had to make another move but not understanding what influences bitcoins value or the technical aspect behind it, i was still scared to jump back in at 12,000$/btc..so i fucked up once again by waiting. Then came the price jump to 14,700$ and i pulled the trigger. I decided not to risk losing the amount i put back in at such a high btc price rate and said to myself i will watch it like a hawk and get out when it reaches 22k..with what i put in, at 14.7k per btc i knew i would be satisfied even if btc prices somehow reach upwards of 30k, it wouldn't bother me one bit!!. ..then came my chance, a solid window, the computer gods were smiling down at me, i sold each unit at 24k.
Just like that i was at double a years salary in profit out of something invisible that i had little to no understanding of. So as i prepare to take a year off to finally finish a bunch of personal projects and to be able to just live life and relax for once in my life, i couldnt sit here and tell you not to risk it.. i can however say that as of jan 1 2018, i stop all rrsp contributions and i will be putting the exact same amount in various smaller crypto currencys
..it is the future as far as im concerned!
Oh and p.s, cashing out is wayyy easier than one would assume.
P.p.s..please be extremely cautious, like literally EXTREMELY cautious on how you buy crypto currency and especially how you store it. Theft and fraud is a regular occurance and very easy for hackers to pull off, plus you have no legal recourse or even any ways to recoup your crypto coins if something as stupid as losing a cold storage ledger or phone would occur.. its wildly simple to lose for something so insanely complex to understand and purchase lol.
Good luck and please, PLEASE do research and read before ever involving yourself in this high tech world.
P.p.p.s lol.. even though it is not yet an accepted or recognized currency, any profits or 'gains' that are withdrawn that go undeclared on your yearly income tax is considered tax evasion or fiscal fraud, dont believe those that say its legal to not declare it because crypto currencys are totally apart from the international financial system!!
(How to declare this is anyones guess lol, but when tax time comes around i will find out how to go about declaring this in my investment portfolio)
P.p.p.p.s.. dec 15th bitcoin will be traded on the stock market or be able to be purchased, i wouldn't put to much faith in btc after that date..plus the canadian gov will be implementing changes regarding bitcoin specifically or crypto currencys as a whole early in the new year, so that also will take this from the free web into the paper gangsters and old men in suits playground and out of the hands of every regular joe, jack and jill..just my humble opinion of course
