It is really impossible for a single individual to know, but generally, it seems like the best bet is to use a “high-speed” bitcoin exchange or debit card in a country with low bitcoin exchanges or a country like India which is not so large in volume when it comes to exchanges, and which requires a lot of bitcoin to trade.
If you plan to trade bitcoin for USD, you should choose a country like India where you can easily acquire USD. Otherwise, keep in mind the time frame, there might be many bitcoin users from around the world who wish to trade for USD, but they are not as available as local bitcoin exchanges. However, most of these users are located in Asia which makes it easy for them to trade the bitcoin for USD. This way your bitcoin could be used at one of the top exchanges for USD to sell bitcoins for US Dollars, or for USD to sell bitcoins for Euro to sell bitcoins for British Pounds.
Why is the value of the currency such a volatile?
Bitcoin’s price is so volatile that it can fluctuate by as much as 10x in 24 to 48h periods. It is not easy to predict whether the price of Bitcoin will improve or deteriorate depending on which Bitcoin exchanges you try. As a result, it is really much safer to simply buy bitcoin on a local exchange and sell it immediately on the exchange before any price movement occurs.
What can I do to ensure my bitcoin is safe from the thieves?
The safest way to protect your bitcoin is to keep them in a wallet that you keep under your mattress, or on an external USB stick and keep it in your house or apartment when you go out of town. There also aren’t many risks involved if your wallet is lost or stolen and you can easily recover your bitcoin by downloading the new update. If you don’t want to keep your bitcoin cold, keep it in a hot wallet or a hardware wallet. A hardware wallet is an open source alternative to a “cold” blockchain and that also provides a secure digital identity and keeps track of your private keys. The hardware wallet solution is relatively easy to use and will not get your bitcoin stolen. A warm wallet, on the other hand, keeps the private key safely in hardware and is even more secure than a hardware wallet. If your bitcoin gets stolen or lost, all you need to do is download and install an address recovery plugin on your phone, so that you can easily recover your bitcoin, if your wallet gets lost.
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