The birth of bitcoin in 2009 opened the door to investment opportunities in a whole new kind of asset class – cryptocurrency. They entered space many mornings.
Intrigued by the enormous potential of these nascent but promising assets, they bought the cryptography at cheap prices. As a result, they became millionaires / billionaires in the 2017 running of the bulls. Even those who didn’t have much got decent profits.
Three years later cryptocurrencies are still profitable, and the market is here to stay. You may already be an investor / trader or thinking about trying your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.
Cryptocurrency has a bright future
According to the Imagine 2030 report published by Deutsche Bank, credit and debit cards will become obsolete. They will be replaced by smartphones and other electronic devices.
Cryptocurrencies will no longer be seen as marginalized, but as an alternative to existing monetary systems. Their benefits will be recognized, such as security, speed, minimal transaction fees, ease of storage, and their importance in the digital age.
Specific regulatory guidelines would popularize cryptocurrencies and encourage their adoption. The report predicts that by 2030 there will be 200 million cryptocurrency wallet users, and nearly 350 million by 2035.
Opportunity to be part of a growing community
WazirX’s #IndiaWantsCrypto The campaign has just ended 600 days. It has become a massive movement that supports the adoption of cryptocurrencies and blockchain in India.
Moreover, the recent Supreme Court ruling overturning the RBI’s ban on crypto banking from 2018 has sparked new confidence among Indian bitcoin and cryptocurrency investors.
The 2020 Edelman Trust Barometer Report also highlights people’s growing faith in cryptocurrency and blockchain technology. According to the findings, 73% of Indians rely on cryptocurrency and blockchain technology. 60% say the impact of cryptocurrency / blockchain will be positive.
As a cryptocurrency investor, you will be part of a growing and growing community.
Increase your earning potential
Diversification is a key investment rule. Especially in these times when most assets have suffered heavy losses due to the economic hardships caused by the COVID-19 pandemic.
Although investment in Bitcoin has yielded 26% since the beginning of the year, gold has returned 16%. Many other cryptocurrencies have recorded a three-digit ROI. The stock markets we all know have had bad returns. Crude oil prices fell below 0 in April.
The inclusion of bitcoin or any other cryptocurrency in your portfolio would protect the value of your fund in a challenging state of the global market. This event also surprised billionaire macro hedge fund manager Paul Tudor Jones when he announced his intention to invest in Bitcoin a month back.
Cryptocurrency markets are at 24X7X365
Compared to traditional markets, cryptocurrency markets operate around the clock, tirelessly every day of the year. That’s because digital currency systems are basically designed using pieces of software code that are protected by cryptography.
The operational plan does not involve human interference. So you are free to invest in cryptocurrency trading or digital assets. That’s a great benefit! Cryptocurrency markets are very effective in this way.
For example, Bitcoin has successfully processed transactions with a time of 99.98% since its inception in 2009.
No formalities or formalities are required
You can invest in Bitcoin or any other cryptocurrency anywhere and anytime without any unnecessary terms and conditions.
Unlike traditional investment options, where a huge amount of documentation is required to prove yourself as an “accredited investor,” cryptocurrency investment is free for all. In fact, that was the goal behind the creation of cryptocurrency. Democratization of finance / money.
To buy any cryptocurrency WazirX, you need to open an account and provide some basic details including your bank account information. Once verified, within a few hours, you are ready.
Sole investment property
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 arrangement.
Bonds, mutual funds, unlike stockbrokers, a third party does not “manage your investment” for you. You call it buying and selling whenever you want.
User autonomy is the biggest benefit of cryptocurrency systems, which offers tremendous opportunities to invest “independently” in your core capital and build a corpus.
These are just some of the benefits of investing in cryptocurrencies. We hope you find it useful and compelling enough to launch your crypto-investment journey.