The birth of Bitcoin in 2009 opened the door to investment opportunities in a whole new type of asset class – the cryptocurrency. Enter the space path much sooner.
Interested in the immense potential of this new but promising asset, they bought crypto at a cheaper price. As a result, they became millionaires / billionaires in the 2017 Bull Run. Even those who did not participate much have made decent profits.
Even after three years, cryptocurrency remains profitable and the market is here. You may already be an investor / trader or you are thinking of trying your luck. In either case, knowing the benefits of investing in cryptocurrency means
Cryptocurrency has a bright future
Credit and debit cards will become obsolete, according to a report titled Imagine 2030 published by Deutsche Bank. Smartphones and other electronic devices will replace them.
Cryptocurrencies will no longer be seen as excluded but as an alternative to the existing monetary system. Their advantages, such as security, speed, minimal transaction fees, ease of storage, and relevance in the digital age, will be recognized.
Concrete regulatory guidelines will popularize cryptocurrencies and increase their acceptance. The report predicts that there will be 200 million cryptocurrency wallet users by 2030 and about 350 million by 2035.
Opportunity to be part of a growing community
WazirX’s #IndiaWantsCrypto The campaign has recently completed 600 days. It has become a huge movement in India supporting the adoption of cryptocurrency and blockchain.
Also, the recent Supreme Court ruling lifting the RBI’s crypto banking ban from 2018 has given new confidence to Indian bitcoin and cryptocurrency investors.
The 2020 Edelman Trust Barometer Report also points to people’s growing confidence in cryptocurrency and blockchain technology. According to the results, 73% of Indians believe in cryptocurrency and blockchain technology. 60% said that the effect of cryptocurrency / blockchain would be positive.
By being a cryptocurrency investor, you can be part of a prosperous and fast-growing community.
Possibility of increased profits
Diversity is an essential investment thumb rule. Especially at a time when most of the resources have been severely damaged due to the economic hardships caused by the Kovid-19 epidemic.
Although investing in Bitcoin has returned 26% since the beginning of the year to date, Gold has returned 16%. Many other cryptocurrencies have registered three-digit ROI. The stock market has posted disappointing performances as we all know. Crude oil prices dropped infamously below zero in April.
Incorporating Bitcoin or any other cryptocurrency into your portfolio will protect the value of your funds in such uncertain global market conditions. This fact was influenced by billionaire macro hedge fund manager Paul Tudor Jones when he announced plans to invest in Bitcoin a month ago.
The cryptocurrency market is open 24X7X365
Unlike normal markets, cryptocurrency markets operate throughout the year, all day of the year without fatigue. This is because digital currency systems are primarily designed using pieces of software code that are protected by cryptography.
Operational blueprints do not involve human intervention. So, you are free to trade crypto or invest in digital assets whenever you want. That’s a great advantage! Cryptocurrency markets are very efficient in that way.
For example, Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.
No paperwork or formalities required
You can invest in Bitcoin or any other cryptocurrency anywhere and anytime without any unnecessary terms and conditions.
Unlike conventional investment options, where unreasonably high amounts of documentation are required to prove yourself as a ‘recognized investor’, crypto-investment is free for all. In fact, this was the purpose behind the introduction of cryptocurrency. Democracy of money.
To buy any cryptocurrency WazirX, You need to open an account for which you need to provide some basic details including your bank account information. Once they are verified, in a few hours, you can 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 takes place in a peer-to-peer system.
Unlike bonds, mutual funds, stock brokers, no third party ‘manages your investment’ for you. Call buying and selling shots whenever you want.
User autonomy is the biggest advantage of a cryptocurrency system that provides an incredible opportunity to ‘independently’ invest your core capital and create a corpus.
These were some of the benefits of investing in cryptocurrencies. We hope that these are useful and reliable enough for you to start your crypto investment journey.