The birth of bitcoin in 2009 opened the door for investment opportunities in a completely new type of asset class – cryptocurrency. A lot went into space early.
Interested in the enormous potential of these young but promising assets, they bought the cryptophone at cheap prices. So in 2017, they became millionaires / billionaires. Even those who did little reaped a decent income.
After three years, cryptocurrencies still remain profitable, and the market remains here. Maybe you are already an investor / trader or maybe you are thinking of trying your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.
Cryptocurrencies have 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 outcasts, but as an alternative to existing monetary systems. Their benefits, such as security, speed, minimum transaction fees, ease of storage and relevance in the digital age, will be recognized.
Specific regulations promote cryptocurrencies and increase their use. The report predicts that by 2030 there will be 200 million users of cryptocurrency wallets, and by 2035 – almost 350 million.
The opportunity to be part of a growing community
#IndiaWantsCrypto from WazirX the campaign recently ended 600 days. It has become a mass movement that supports the adoption of cryptocurrencies and blockchain in India.
In addition, a recent Supreme Court ruling that lifted RBI’s ban on crypto banking from 2018 has instilled a new surge of confidence among Indian investors in bitcoin and cryptocurrencies.
The Edelman Trust Barometer 2020 report also notes the growing people’s faith in cryptocurrency and blockchain technology. According to the results, 73% of Indians trust cryptocurrencies and blockchain technology. 60% note that the impact of the cryptocurrency / blockchain will be positive.
As an investor in cryptocurrency, you remain part of a thriving and fast-growing community.
Increase profit potential
Diversification is an important investment rule. Especially at a time when most assets have suffered heavy losses due to economic hardship caused by the COVID-19 pandemic.
While investing in bitcoin has yielded 26% return since the beginning of the year to date, gold has returned 16%. Many other cryptocurrencies have a three-digit ROI. Stock markets, as we all know, have published horrible results. In April, crude oil prices are known to have fallen below 0.
Inclusion in your portfolio of bitcoin or any other cryptocurrency will protect the value of your fund in such uncertain situations in the global market. This fact also impressed billionaire macro hedge fund manager Paul Tudor Jones when a month ago he announced plans to invest in bitcoin.
Cryptocurrency markets operate 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 software code that is provided with cryptography.
The operational plan does not provide for human intervention. This way, you are free to trade cryptocurrencies or invest in digital assets if you wish. This is a great benefit! Cryptocurrency markets are very efficient.
For example, since its inception in 2009, Bitcoin has successfully processed 99.98% uptime transactions.
No documents or formalities are required
You can invest in bitcoin or any other cryptocurrency anywhere and anytime without any unnecessary conditions.
Unlike conventional investment options, where an absurdly large amount of documentation is required to prove yourself as an “accredited investor,” crypto-investments are free for everyone. In fact, this was the goal behind the creation of cryptocurrencies. Democratization of finance / money.
To buy any cryptocurrency on WazirX, you need to open an account for which you just need to provide some basic data including your bank account details. Once they are checked, within hours, you are ready to go.
The sole ownership of the investment
By buying bitcoin or any other cryptocurrency, you become the sole owner of this digital asset. The transaction is peer-to-peer.
Unlike bonds, mutual funds, stockbrokers, no one “manages your investments” for you. You call for a sale whenever you want.
User autonomy is the biggest advantage of cryptocurrency systems, which provides incredible opportunities for self-investment and building a fixed capital.
These were some of the benefits of investing in cryptocurrencies. We hope you find them useful and compelling enough to begin your crypto-investment journey.