The birth of bitcoin in 2009 opened the door to investment opportunities in a completely new type of asset: cryptocurrency. Many entered space very soon.
Intrigued by the immense potential of these fledgling but promising assets, they bought crypts at cheap prices. As a result, the 2017 bullfight saw them become millionaires / millionaires. Even those who did not bet much got decent profits.
Three years later, cryptocurrencies are still profitable and the market has come to stay. You may already be an investor / trader or you may be looking to try your luck. In either case, it makes sense to know the benefits of investing in cryptocurrencies.
Cryptocurrency has a bright future
According to a report entitled Imagine 2030, published by Deutsche Bank, credit and debit cards will become obsolete. Smartphones and other electronic devices will replace them.
Cryptocurrencies will no longer be seen as marginalized, but as alternatives to existing monetary systems. Its benefits will be recognized, such as security, speed, minimum transaction rates, ease of storage, and relevance in the digital age.
Specific regulatory guidelines will popularize cryptocurrencies and promote their adoption. The report predicts that by 2030 there will be 200 million users of cryptocurrency portfolios and almost 350 million by 2035.
Opportunity to be part of a growing community
#IndiaWantsCrypto by WazirX recently completed campaign for 600 days. It has become a massive movement that supports the adoption of cryptocurrencies and blockchain in India.
In addition, the recent Supreme Court ruling overturning RBI’s ban on cryptocurrency banking since 2018 has instilled a new crisis of confidence among Indian bitcoins and cryptocurrencies investors.
The Edelman Trust 2020 barometer report also points to the growing faith of people in cryptocurrencies and blockchain technology. According to the findings, 73% of Indians rely on cryptocurrencies and blockchain technology. 60% say the impact of cryptocurrency / blockchain will be positive.
As a cryptocurrency investor, you are part of a thriving and fast-growing community.
Increased profit potential
Diversification is an essential rule of investing. Especially during these times when most assets have suffered heavy losses due to the economic hardships caused by the COVID-19 pandemic.
While investment in bitcoin has yielded a 26% return since the beginning of the year to date, gold has returned 16%. Many other cryptocurrencies have a three-digit ROI. The stock markets, as we all know, have undergone unfortunate developments. Crude oil prices fell sharply below 0 in April.
Including bitcoin or any other cryptocurrency in your portfolio would protect the value of your fund in such uncertain global market situations. This fact was also impressed by billionaire macro hedge fund manager Paul Tudor Jones when he announced plans to invest in Bitcoin a month ago.
The cryptocurrency markets are up and running 24 X 7 X 365
Unlike regular markets, cryptocurrency markets operate all day long, every day of the year without fatigue. This is because digital currency systems are basically designed using cryptographically protected pieces of software code.
The operational plan does not involve human interference. Therefore, you are free to trade crypto or invest in digital assets whenever you want. This is a great benefit! Cryptocurrency markets are very efficient in this way.
For example, Bitcoin has successfully processed transactions with a 99.98% uptime since its inception in 2009.
No paperwork or paperwork is required
You can invest in bitcoin or any other cryptocurrency anywhere, anytime without any unnecessary terms and conditions.
Unlike conventional investment options, where an absurdly high amount of documentation is required to prove yourself an “accredited investor,” cryptoinvestment is free for all. In fact, this was the goal behind the launch of cryptocurrencies. The democratization of finance / money.
To buy any cryptocurrency WazirX, you must open an account for which you only need to provide some basic information, such as your bank account information. Once verified, in a few hours, you are ready.
Unique property 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 agreement.
Unlike bonds, mutual funds, stockbrokers, no third party “manages your investment” for you. Call to buy and sell whenever you want.
User autonomy is the biggest benefit of cryptocurrency systems that offers incredible opportunities to invest and build a corpus in your core capital “independently”.
These were some of the benefits of investing in cryptocurrencies. We hope you find them useful and compelling enough to start your cryptocurrency investment journey.