The birth of bitcoin in 2009 opened the door to investment opportunities in an entirely new type of asset class – cryptocurrency. Many entered the space path early.
Intrigued by the enormous potential of these nascent but promising assets, they bought crypto at cheap prices. Therefore, in 2017, they became millionaires / billionaires. Even those who did not gamble much made a decent profit.
Three years later, cryptocurrencies still remain profitable and the market is here to stay. Maybe you are already an investor / trader or maybe you are considering trying your luck. In both cases, 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 exiles, but as an alternative to existing monetary systems. Their advantages such as security, speed, minimum transaction fees, ease of storage and relevance in the digital age will be recognized.
Specific regulatory guidelines would promote cryptocurrencies and accelerate their adoption. The report estimates that by 2030 there will be 200 million users of the cryptocurrency portfolio and almost 350 million by 2035.
Opportunity to be part of a growing community
#IndiaWantsCrypto on WazirX campaign recently ended 600 days. This has become a massive movement supporting the adoption of cryptocurrencies and blockchain in India.
Also, a recent Supreme Court ruling lifting RBI’s 2018 ban on crypto banking has brought a new surge of confidence to Indian investors in bitcoin and cryptocurrency.
The Edelman Trust Barometer report for 2020 also points to people’s growing faith in cryptocurrencies and blockchain technology. According to the findings, 73% of Indians trust cryptocurrencies and blockchain technology. 60% say that 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 a basic rule for investment. Especially during these periods, when most of the assets suffered heavy losses due to economic difficulties caused by the COVID-19 pandemic.
While investments in bitcoin have given a 26% return since the beginning of the year, gold has returned 16%. Many other cryptocurrencies have registered three-digit returns on investment. Stock markets, as we all know, have posted grim results. Crude oil prices fell below 0 in April.
Including bitcoin or other cryptocurrencies in your portfolio would protect the value of your fund in such uncertain global market situations. This fact was also impressed by the manager of billionaires macro hedge funds Paul Tudor Jones, when a month ago he announced that he plans to invest in bitcoin.
The cryptocurrency markets are at 24X7X365
Unlike conventional markets, cryptocurrency markets operate around the clock, all days of the year without fatigue. This is because digital currency systems are essentially designed using pieces of software code that are protected by cryptography.
The operational plan does not include human intervention. So you can 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 99.98% uptime since its inception in 2009.
No documents or formality required
You can invest in bitcoin or other cryptocurrency anywhere and anytime, without unnecessary conditions.
Unlike conventional investment options, where an absurdly large amount of documentation is required to prove yourself as an “accredited investor”, cryptoinvestment is free for everyone. In fact, this was the goal set for the creation of cryptocurrencies. The democratization of finance / money.
To purchase any cryptocurrency WazirX, you need to open an account for which you simply need to provide some basic information, including information about your bank account. Once checked, within a few hours, you are good to go.
Sole proprietorship in investments
When you buy bitcoin or another cryptocurrency, you become the sole owner of that particular digital asset. The transaction takes place in an equal agreement.
Unlike bonds, mutual funds, stockbrokers, no third party “manages your investment” for you. You can call the sales photos whenever you want.
Consumer autonomy is the biggest advantage of cryptocurrency systems, which provides incredible opportunities to invest and build a corpus on your fixed capital “independently”.
These were some of the benefits of investing in cryptocurrencies. We hope you find them useful and compelling enough to launch your crypto investment journey.