The birth of bitcoin in 2009 opened the doors to investment opportunities in a new asset class – cryptocurrency. Many entered space early.
Interested in the great potential of these new but promising properties, they bought cryptos at a cheap price. As a result, the bull run of 2017 saw them become millionaires/billionaires. Even those who do not gamble much reap a good income.
Three years ago cryptocurrencies remained profitable, and the market is here to stay. You may already be an investor/trader or maybe thinking of 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 titled Imagine 2030, published by Deutsche Bank, credit and debit cards may no longer be available. Smartphones and other electronic devices will replace them.
Cryptocurrencies are no longer seen as discarded but alternatives to existing monetary systems. Their benefits, such as security, speed, low transaction fees, ease of storage, and relevance to the digital age, are recognizable.
Concrete regulatory guidelines can popularize cryptocurrencies, and improve their adoption. The report predicts there will be 200 million cryptocurrency wallet users by 2030, and nearly 350 million by 2035.
Opportunity to be part of the Growing Community
WazirX’s #IndiaWantsCrypto campaign just finished 600 days. It has become a major movement supporting the adoption of cryptocurrencies and blockchain in India.
Also, the recent Supreme Court ruling lifting the RBI’s crypto banking ban from 2018 instilled a new rush of trust among bitcoin and cryptocurrency investors in India.
The 2020 Edelman Trust Barometer Report also focuses on increasing people’s faith in cryptocurrencies and blockchain technology. According to findings, 73% of Indians rely on cryptocurrencies and blockchain technology. 60% say the impact of the cryptocurrency/blockchain could be positive.
By becoming a cryptocurrency investor, you stand to be part of a thriving and fast -growing community.
Increased Revenue Potential
Diversification is an important rule of investing. In particular, in these times most of the properties have suffered huge losses due to the economic hardship caused by the COVID-19 pandemic.
While investing in bitcoin has provided a 26% return from the beginning of the year to date, gold has returned 16%. Many other cryptocurrencies have registered three -digit ROI. The stock markets as we all know post poor performances. Crude oil prices famously dropped below 0 in April.
Including bitcoin or any other cryptocurrencies in your portfolio can protect the value of your fund in such uncertain global market conditions. 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 Available at 24X7X365
Unlike traditional markets, cryptocurrency markets move around the clock, all days of a year tirelessly. That’s because digital currency systems are essentially designed using pieces of software code secured by cryptography.
The operational blueprint does not include human intervention. So, you are free to sell crypto or invest in digital assets whenever you want. That is a great benefit! Cryptocurrency markets are very efficient that way.
For example, Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.
No Paper or Formal Required
You can invest in bitcoin or any other cryptocurrency anywhere and anytime without any unnecessary terms and conditions.
Unlike traditional investment options, where an unreasonably high amount of documentation is required to prove yourself as an ‘accredited investor’, crypto-investment is free for everyone. Basically, that’s the intended purpose behind the launch of cryptocurrencies. The democratization of finance/money.
For the purchase of any cryptocurrency on WazirX, you need to open an account where you need to provide some basic details including your bank account information. If they can be proven, within a few hours, you’re good to go.
Sole Proprietorship Investment
If 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 arrangement.
Unlike bonds, mutual funds, stockbrokers, there is no third party that ‘manages your investment’ for you. You call buying and selling shots, whenever you want.
User autonomy is the biggest benefit of cryptocurrency systems that provide incredible opportunities to invest and build a corpus of your ‘independent’ capital.
These are some of the benefits of investing in cryptocurrencies. We hope you find it useful and convincing enough to start your crypto investing journey.