I am often asked questions about Bitcoin, and cryptocurrencies in general, on whether they make a good investment.

Bitcoin is just one of over 4,000 different cryptocurrencies globally, according to investopedia.com. While many of these cryptocurrencies have little to no following or trading volume, some enjoy immense popularity among dedicated communities of backers and ‘investors’. Some of the leading cryptocurrencies outside Bitcoin are Ethereum, Litecoin and the new favourite of many, Cardano.

Bitcoin is a form of digital money, meaning that unlike physical money, it’s a currency traded online across a computer network of thousands. That makes it difficult to have a common record of all the transactions, but a technology known as blockchain makes this possible.