Is Investing in Bitcoin a Good Idea?

Lots of Bitcoin scams around , including those quoting Martin Lewis and Good Morning Britain - totally untrue . I have been investing for many years and wouldn't touch Bitcoin even through a "legit" site . How can something worth nothing and backed by thin air be worth anything ? As an experienced investor I just don't get it .

I suspect your link is or similar to the ones going around to invest $250 and it will be auto traded using a "secret algorithm " to make you a fortune (only very limited opportunities ) ?

There are legit Bitcoin sites , at least not out and out scams . But I would leave Bitcoin well alone unless you are an experienced investor . When you are you will know to leave Bitcoin well alone .

I bought BTC worth £250 and now it's worth... £198 (that's not counting the hardware wallet which cost £50 itself). If or when it recovers back to £250 I'll just withdraw it and be done with it.

No.. I don't recommend anyone investing in BTC. If it were today I'd not have done it and instead I'd have put it forward for food and physical items instead.

I was lucky enough to have an amount given to me as a Christmas gift in 2017 and it was £631 for one bitcoin at the time and I have just left it in my account and it has gone up to highs of £48,000 per bitcoin in November 2021 and lows of £2,900 per bitcoin in Nov 2018 and now hovering around £22,500 per bitcoin so you can see its been volatile! If you'd bought early on then just hang on to it but as for investing now I really wouldn't

I think Bitcoin was great to invest in during the early stages however I agree with the others I wouldn't now - most of my money I invest into stocks & shares through Vanguard which are recommended by a lot of people - it's still a risk but you can manage how high

I dont think I would as I have heard lots of stuff about Bitcoin being a scam.

I actually do have money to waste , unlike many folks . If I actually thought there was a chance of a return I'd be into Bitcoin . Sadly the only "value " in bitcoin is what folks are prepared to buy it for (influenced by Social Media ) . Sadly the actual bitcoin is worthless - yet it is traded , which makes scams widespread and inevitable . I have seen so many scams referencing "auto trading " -just give us your money and you will make profits with no effort . Would be nice wouldn't it ?

If enough people can be fooled . then perhaps a reasonable bet ? Certainly if you are a criminal or drug dealer , not wanting your ill gotten gains to be tracked .

Looked at it often but can see no rhyme or reason how it can be valued at anything above zero .

It's hugely damaging to the environment with all the bitcoin mining with a huge number of computers validating highly encrypted transactions. It would be good if it just collapses. As with most of these schemes the real rewards are for those that get in early but again if you are trying to help the environment its best avoided.

I bought some about 10 years ago, but sadly spent it not long after.

Hanging onto it would mean it would be worth thousands now.

This ship has well and truly passed. In the beginning it may have been worth a go. Nowadays it's just a glorified pyramid scheme. Avoid avoid avoid!

I don't trust it. Think it's had its heyday

I got given some free bitcoin from a company called coinbase I just kept looking at it from time to time when it went up I took it out its worth having ago but only put a few quid in at 1st and find your feet keep a eye on the bitcoin valve only put in what your willing to lose and remember it can go up as well as down always use a well known company such as coinbase or PayPal if you want want to Google it you can also get free bitcoin from doing surveys ect. There's also a bitcoin group UK on Facebook some say its not a bad time to invest in bitcoin as the price is low right now so the price is going to be going higher soon