Jakarta, CNN Indonesia —
Price bitcoin (BTC) is getting ‘crazy’ lately. Currency crypto- with the largest capitalization value, it broke in the range of US$54 thousand per chip. In fact, it had touched US $ 55,147 as of Thursday (7/10).
Quoting coinmarket.com, bitcoin is at the level of US $ 54,479 per chip. The figure rose 0.52 percent in the last 24 hours or 26.35 percent in the last seven days.
The price of bitcoin has soared several times to break records. Reporting from CNN Business, bitcoin had reached its highest level at the level of US $ 20,000 per chip in 2017.
However, the price of bitcoin plummeted to as low as US$3,000 per chip in 2019. This is because China is cracking down on the cryptocurrency business.
Then, the price rebounded to the level of US$8,000 in May 2019. It did not stop there, the price of bitcoin continued to soar to touch US$20 thousand per chip in December 2020.
Bitcoin also looks to be moving faster and penetrated US $ 30 thousand per chip in early 2021. Now, bitcoin is already perched above US $ 54 thousand per chip.
If you look at the trend, bitcoin seems to be growing steadily in the midst of the covid-19 pandemic. If someone bought bitcoin in 2017, the profit would have been more than 100 percent.
This is certainly interesting for people who want to try to invest and enjoy money many times over.
It is known, crypto money is still prohibited as a means of payment in Indonesia. However, crypto is a commodity futures exchange, so it doesn’t matter as long as it is used as an investment or as a commodity traded by market participants.
Crypto money is regulated by the Commodity Futures Trading Supervisory Agency (CoFTRA) of the Ministry of Trade through CoFTRA Regulation No. 2 of 2019 concerning the Implementation of the Physical Commodity Market on the Futures Exchange.
So, what are the things that must be prepared if you want to try investing in cryptocurrencies?
1. Find a Cryptocurrency Trading Platform
The founder and Chief Executive Officer (CEO) of Bitocto Milken Jonathan explained that the public should look for a platform that trades cryptocurrencies legally and is registered with CoFTRA.
Bitocto, said Milken, is one of the platforms that is legal and registered with CoFTRA. “You can go directly to the platform. Basically the crypto exchange platform has done all the functions of the exchange, clearing, and others,” said Milken to CNNIndonesia.com, Thursday (7/10).
Similarly, Indodax CEO Oscar Darmawan explained that people should look for platforms that trade crypto assets to start investing. If you choose Indodax, people can download the application on the App Store or Playstore.
“After that, beginners can register by following the instructions listed on the registration menu,” said Oscar.
Then, the public will receive an e-mail to verify. Once verified, the public can return to the official page of the platform and log in using the e-mail and password that has been registered.
“After that, the novice performs two-way authentication,” added Oscar.
If all processes have been carried out, then the community can immediately carry out transactions.
2. Cold Money
Meanwhile, Milken explained that people should use ‘cold money’ to invest in crypto assets. Cold money means funds that will not be used for a certain period of time.
This is so that the financial cash flow (cashflow) is not disturbed. Thus, the invested funds do not have to be withdrawn in the short term.
3. Choose Blue Chip Assets
In addition, Milken suggested that people start investing by choosing ‘blue chip’ crypto assets. The assets in question are bitcoin and ethereum (ETH).
“Start investing in crypto assets with a focus on bitcoin and ethereum at an early stage as a startup,” said Milken.
According to Milken, blue chips or non-blue chips can be seen from the value of market capitalization, trading value, liquidity, and how many platforms are trading cryptocurrencies.
“The definition of blue chip from my perspective is only two, bitcoin and ethereum only, because from number three down they have started to often go up and down the ranking of market capitalization values,” explained Milken.
