The birth of bitcoin in 2009 opened up investment opportunities in a new type of asset – cryptocurrency. There were many investors who entered the space at a very early stage.
Incredulous at the potential of these new but promising investments and cryptocurrencies, investors bought them at cheap prices. Therefore, the bull run of 2017 saw them becoming billionaires and millionaires. Even those who did not stake many times reaped decent profits.
Three years later , cryptocurrencies remain lucrative and the market will continue to grow. You could already be an investor or trader or perhaps thinking about having a go. In both cases it’s sensible to know the benefits of investing in cryptocurrencies.
Cryptocurrency has a Promising Future
According to a research report titled Imagine 2030, published by Deutsche Bank, credit and debit cards will become obsolete. Mobile phones and electronic gadgets Best crypto insurance company will take over.
Cryptocurrencies will no more be seen as outcasts but alternatives to existing monetary systems. The advantages they bring, like safety, efficiency, low charges for transactions, the ease of storage, and their relevance in the digital age will be acknowledged.
A set of clear regulations would help popularize the use of cryptocurrency, and encourage their use. According to the report, there will be 200 million users of cryptocurrency wallets by 2030, and close to 350 million by the year 2035.
Chance to be a part of an Growing Community
AzirX’s #IndiaWantsCrypto campaign just completed 600 days. It’s grown into a massive movement to encourage the adoption of blockchain technology and cryptocurrency in India.
In addition an earlier Supreme Court judgment nullifying RBI’s cryptocurrency banking ban for 2018 has instilled a new optimism among Indian cryptocurrency and bitcoin investors.
The 2020 Edelman Trust Barometer Report also exposes the rising trust in cryptocurrency and blockchain technology. As per the findings, 73 percent of Indians are adamant about cryptocurrencies and blockchain technology. 60% say that the impact of cryptocurrency/blockchain will be positive.
When you invest in cryptocurrency you will be part of an active and rapidly growing community.
Diversification is a crucial investment guideline. Especially, during these periods when the majority of assets have experienced massive losses as a result of economic difficulties caused by the COVID-19 pandemic.
Although bitcoin investment has returned 26% from the starting of the year, to date, gold has returned 16%. A variety of other cryptocurrency has registered three-digit ROI. Stock markets, as we are aware have had poor performances. The prices of crude oil have been notoriously falling to below zero in the month of April.
The inclusion of bitcoin or other cryptocurrencies in your portfolio would ensure the value of your investment in these uncertain market situations. This idea was also commented upon by the billionaire manager of macro hedge funds Paul Tudor Jones when a month ago, he announced that he was planning to put money into Bitcoin.
Cryptocurrency Markets Are On 24X7X365
Contrary to traditional markets, cryptocurrency markets operate 24/7, all days in a year without fatigue. This is because cryptocurrency systems are designed with bits of code in software that are secured with cryptography.
The operational plan doesn’t require human interference. Therefore, you’re free to trade cryptocurrency or invest in digital assets any time you want to. That’s a major benefit! The cryptocurrency markets are extremely efficient that way.
No formal or paper work Required
Bitcoin or other currency can be purchased at any time and at any time without having to adhere to any or limiting conditions.
In contrast to traditional investment options, where a ridiculous amount of documentation is required to prove yourself as an ‘accredited investor’ crypto-investment is open to all. In fact, that was the intention behind the introduction of cryptocurrencies. The democratization of finance/money.
For buying any cryptocurrency on WazirX, you need to sign up for an account. you just need to provide some basic details including the details of your bank account. After verification, within a few hours, you are good to go.
The sole ownership of an Investment
If you purchase bitcoin or any other cryptocurrency it becomes the sole owner of that particular digital asset. The transaction happens in a peer-to-peer arrangement.
In contrast to bonds, mutual funds and stockbrokers, there is no third party ‘manages your investment on your behalf. You call the shots to buy and sell, whenever you want to.
Autonomy of the user is the most significant advantage of cryptocurrency systems. It gives you the opportunity to build and invest a corpus on your principal capital “independently”.
These are just some of the advantages of investing in crypto. We hope that you will discover them to be useful and convincing enough to kickstart your crypto investment journey.