6 benefits of investing in cryptocurrency

The birth of Bitcoin in 2009 opened the door to investment in a whole new type of asset class – the cryptocurrency. Plenty of space entered early.

Concerned about the immense potential of this new but promising asset, they bought crypto at a cheaper price. As a result, they saw the 2013 bull run become a millionaire / billionaire. Even those who did not share much made a profit.

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

Cryptocurrency has a bright future

Credit and debit cards will become obsolete, according to a report titled Imagine 2030 published by Deutsche Bank. Smartphones and other electronic devices will replace them.

Cryptocurrencies will no longer be seen as an outflow but as an alternative to the existing financial system. Their advantages, such as security, speed, minimum transaction fees, ease of storage and relevance in the digital age will be recognized.

The concrete regulatory guidelines will popularize cryptocurrencies and increase their acceptance. The report predicts that there will be 200 million cryptocurrency wallet users by 2030 and about 350 million by 2035.

Opportunity to be part of a growing community

WazirIX’s #IndiaWantScript The campaign has ended 600 days. It has become a huge movement in India to adopt cryptocurrency and blockchain.

Also, the recent Supreme Court ruling lifting the RBI’s crypto-banking ban from 2018 to 2018 has sparked a new wave of confidence among Indian bitcoin and cryptocurrency investors.

The 2020 Edelman Trust Barometer report also identifies people’s growing trust in cryptocurrency and blockchain technology. According to the survey, 3% of Indians believe in cryptocurrency and blockchain technology. 60% said that the effect of cryptocurrency / blockchain would be positive.

By becoming a cryptocurrency investor you stand out to be part of a prosperous and fast growing community.

The chances of profit have increased

Diversification is a necessary rule of investment. Especially, at a time when most of the resources have suffered heavy losses due to economic problems fueled by the COVID-19 epidemic.

Investment in Bitcoin has returned 26% since the beginning of the year to date, while gold has returned 16%. Many more cryptocurrencies have registered three-digit ROIs. The stock markets have posted annoying performances as we all know. Crude oil prices crashed below 0 in April.

Incorporating Bitcoin or any other cryptocurrency into your portfolio will protect the value of your funds in such uncertain global market conditions. The incident also caught the attention of billionaire Macro Hedge Fund manager Paul Tudor Jones when he announced plans to invest in Bitcoin a month ago.

Cryptocurrency markets are at 24X7X365

In contrast to the general market, cryptocurrency markets operate 24 hours a day, six days a year without fatigue. This is because digital currency systems are primarily designed using pieces of software code protected by cryptography.

Operational blueprint does not involve human intervention. So, you are free to trade crypto or invest in digital assets whenever you want. This is a great advantage! Cryptocurrency markets are very efficient in that way.

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

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No paperwork or formalities required

You can invest in Bitcoin or any other cryptocurrency at any time and at any time without unnecessary conditions.

Unlike conventional investment options, where an unreasonably high amount of documentation is required to prove oneself as a ‘recognized investor’, crypto investing is free for all. In fact, this was the goal behind the introduction of cryptocurrencies. Democracy of money.

To launch any cryptocurrency WazirX, You need to open an account for which you only need to provide some basic information including your bank account information. Once they are verified, it is best to leave within a few hours.

Sole proprietorship of the investment

When you buy Bitcoin or any other cryptocurrency, you are the sole owner of that particular digital asset. The transaction takes place in a peer-to-peer format.

Bonds, mutual funds, any third party other than stockbrokers ‘do not manage your investment’ for you. Buy and sell calls whenever you want.

User autonomy is one of the biggest benefits of cryptocurrency systems that provide an incredible opportunity to invest your capital ‘independently’ and build a corpus.

These were some of the advantages of investing in cryptocurrencies. We hope you find them useful and convincing to embark on their crypto investment journey.