The birth of bitcoin in 2009 opened the door to opportunities to invest in an entirely new type of asset class – cryptocurrency. They entered space very early.
Intrigued by the huge potential of these emerging but promising assets, they bought crypto at cheap prices. As a result, during 2017, they became millionaires / billionaires. Even those who did not gamble much reaped decent profits.
Three years later, cryptocurrencies are still 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 alternatives 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 will promote cryptocurrencies and increase their acceptance. The report estimates that there will be 200 million users of the cryptocurrency portfolio by 2030 and almost 350 million by 2035.
Opportunity to be part of a growing community
#IndiaWantsCrypto on WazirX the campaign recently ended 600 days ago. This has become a mass movement supporting the adoption of cryptocurrencies and blockchain in India.
Also, a recent Supreme Court ruling lifting RBI’s 2018 ban on cryptocurrency has sparked a new surge of confidence among Indian investors in bitcoin and cryptocurrencies.
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 the 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 in these times, when most of the assets have suffered heavy losses due to economic difficulties caused by the COVID-19 pandemic.
While bitcoin investments have given a 26% return since the beginning of the year, gold has returned 16%. Many other cryptocurrencies have registered three-digit ROI. Stock markets, as we all know, are reporting 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 the macro hedge fund billionaire Paul Tudor Jones, when a month ago he announced plans to invest in bitcoin.
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 involve human intervention. So you are free to trade cryptocurrencies or invest in digital assets whenever you want. This is a great benefit! Thus, cryptocurrency markets are very efficient.
For example, Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.
No documents or formalities are required
You can invest in bitcoin or other cryptocurrency anywhere and anytime without any unnecessary terms and conditions.
Unlike conventional investment options, which require an absurdly large amount of documentation to prove yourself as an “accredited investor”, crypto-investing is free for everyone. In fact, this was the goal behind 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 confirmed, within a few hours, you can leave.
Sole proprietorship in investments
When you buy bitcoin or another cryptocurrency, you become the sole owner of that particular digital asset. The transaction is carried out in an agreement between partners.
Unlike bonds, mutual funds, stockbrokers, no third party “manages your investment” for you. You decide to buy and sell whenever you want.
Consumer autonomy is the biggest advantage of cryptocurrency systems, which provide incredible opportunities to invest and build on their fixed capital “independently”.
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.