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The birth of Bitcoin in 2009 opened the doors to investment opportunities in a completely new type of asset class – the cryptocurrency. Many entered space early on.
Fascinated by the huge potential of these nascent and promising assets, they purchased cryptocurrencies at cheap rates. As a result, the year 2017 has seen them become millionaires / billionaires. Even those who haven’t invested much in making decent profits.
Three years later, cryptocurrencies are still profitable, and the market is here to stay. You may already be an investor / trader or maybe considering trying your luck. Either way, it makes sense to know the benefits of investing in cryptocurrencies.
Cryptocurrency has a bright future
According to a report titled Imagine 2030, published by Deutsche Bank, credit and debit cards will be obsolete. Smartphones and other electronic devices will replace it.
Cryptocurrencies are no longer seen as pariahs but rather as alternatives to the current monetary systems. Their advantages, such as security, speed, minimum transaction fees, ease of storage, and their importance in the digital age will be learned.
Concrete regulatory guidelines would popularize cryptocurrencies and boost their adoption. The report predicts that there will be 200 million cryptocurrency wallet users by 2030, and about 350 million users by 2035.
An opportunity to be part of a growing community
WazirX’s #IndiaWantsCrypto The campaign was recently completed 600 days. It has become a huge movement supporting the adoption of cryptocurrencies and blockchain in India.
Also, a recent Supreme Court ruling nullifying the RBI banking ban on cryptocurrencies has led to a new surge of confidence among bitcoin and cryptocurrency investors in India.
The Edelman Trust Barometer 2020 report also indicates people’s growing faith in cryptocurrency and blockchain technology. According to the results, 73% of Indians trust cryptocurrency and blockchain technology. 60% say the cryptocurrency / blockchain impact will be positive.
By being an investor in cryptocurrencies, you will be part of a thriving and fast-growing community.
Increase your chances of winning
Diversification is an essential rule in investing. In particular, it is during these times when the majority of assets have incurred heavy losses due to the economic hardships caused by the COVID-19 pandemic.
While investing in Bitcoin has given returns of 26% year-to-date, gold is back 16%. Many other cryptocurrencies have a three-digit ROI. The stock markets, as we all know, have performed poorly. Crude oil prices dropped significantly below zero in April.
Including Bitcoin or any other digital currency in your wallet will protect the value of your money in such uncertain situations in the global market and this fact was also influenced by billionaire hedge fund manager Paul Tudor Jones when he announced plans a month ago to invest in Bitcoin.
Cryptocurrency markets work 24X7X365
Unlike the usual markets, cryptocurrency markets operate around the clock, all days of the year without getting tired. This is because cryptocurrency systems are primarily designed with bits of code secured by encryption.
The operating diagram does not involve human intervention. Therefore, you are free to trade cryptocurrencies or invest in digital assets whenever you want. This is a great benefit! Cryptocurrency markets are very effective in this way.
For example, Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.
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It does not require paperwork or formalities
You can invest in Bitcoin or any other digital currency anywhere and anytime without any unnecessary terms and conditions.
Unlike traditional investment options, where a large amount of documentation is required to establish yourself as a “certified investor,” investing in cryptocurrencies is free for everyone. In fact, this was the ultimate goal behind creating cryptocurrencies. Democratizing money / money.
To buy any cryptocurrency WazirXIn order to open an account, you only need to provide some basic details including your bank account information. Once you check it out, in a few hours, you’re good to go.
Sole proprietorship in investment
When you buy Bitcoin or any other cryptocurrency, you become the sole owner of that particular digital asset. The transaction occurs in a peer-to-peer arrangement.
Unlike bonds, mutual funds, and stock brokers, there is no third party that “manages your investment” on your behalf. You can call up the buy and sell shots whenever you want.
User autonomy is the biggest benefit of cryptocurrency systems that provide incredible opportunities to invest and build a pool on your own “base capital independently”.
These were some of the benefits of investing in cryptocurrencies. We hope you’ll find it useful and convincing enough to start your crypto investment journey.
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