6 Advantages of investing in cryptocurrency

The birth of Bitcoin in 2009 opened the door to investment opportunities in a whole new class of assets – the cryptocurrency. Many entered early on their way to space.

Fascinated by the tremendous potential of these new but promising assets, they bought the cryptocurrencies at an affordable price. As a result, the 2017 running of the bulls became millionaires / billionaires. Even those who did not have a large stake got decent profits.

Three years later cryptocurrencies are still profitable, and the market is about to stop. You may already be an investor / trader or you may be thinking about trying your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.

Cryptocurrency has a prosperous future

According to a report published by Deutsche Bank called Imagine 2030, credit and debit cards will become obsolete. They will be replaced by smartphones and other electronic devices.

Cryptocurrencies will not be seen as marginalized, but as an alternative to existing monetary systems. Their benefits, such as security, speed, minimal transaction fees, ease of storage, and their importance in the digital age, will be recognized.

Specific rules would introduce cryptocurrencies and encourage their adoption. The report predicts that by 2030 there will be 200 million cryptocurrency users and by 2035 nearly 350 million.

Opportunity to be a member of a growing community

WazirX’s #IndiaWantsCrypto the campaign has recently completed 600 days. India has become a massive movement that supports cryptocurrency and blockchain adoption.

Also, the Supreme Court’s recent ruling overturned the RBI’s ban on cryptocurrencies has led to a new confidence in 2018 among Indian bitcoin and cryptocurrency investors.

The 2020 Edelman Trust Barometer report also highlights people’s faith in cryptocurrency and blockchain technology. According to the findings, 73% of Indians have confidence in crypto-currency and blockchain technology. 60% say the impact of the cryptocurrency / blockchain will be positive.

By being an investor in cryptocurrency, you get to be part of a growing and fast-growing community.

Greater profit potential

Diversification is the key investment rule. Mainly due to the economic difficulties caused by the COVID-19 pandemic, most of the assets have suffered significant losses during these times.

Although investment in Bitcoin has yielded a 26% return since the beginning of the year, gold has returned 16%. Many other cryptocurrencies have recorded a three-digit ROI. As we all know the stock exchanges have released disastrous performances. Crude oil prices fell below 0 in April.

Incorporating Bitcoin or any other cryptocurrency into your wallet would protect the value of your fund in situations that are less secure in a global marketplace. 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 24 hours a day without tiring every day of the year. Because digital currency systems are basically designed using pieces of software code that secures cryptography.

The operating plan does not involve human interference. So you are free to trade crypto or invest in digital assets whenever you want. That’s a big benefit! Cryptocurrency markets are very efficient in this way.

For example, Bitcoin has successfully processed transactions with a duration of 99.98% since its inception in 2009.

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No paperwork or formality required

You can invest in Bitcoin or any other cryptocurrency anywhere and anytime, without unnecessary terms and conditions.

Unlike conventional investment options, which require a senseless amount of documentation to prove that you are a “verified investor,” cryptoinvestment is free for all. In fact, that was the goal behind the creation of cryptocurrencies. Democratization of finance / money.

For the purchase of any cryptocurrency WazirX, you need to open an account and for this you need to provide some basic data including your bank account information. Once verified, within a few hours, you are able to go.

The only property in the investment

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 organization.

Unlike bonds, mutual funds, stockbrokers, a third party does not “manage” your investment for you. You call them buying and selling whenever you want.

User autonomy is the biggest benefit of cryptocurrency systems, offering you the perfect opportunity to invest and build your corpus “independently” in your core capital.

These were some of the advantages of investing in cryptocurrency. We hope they will be useful and compelling enough to get you started on your cryptocurrency investment.