6 benefits of investing in cryptocurrencies

The birth of bitcoin in 2009 opened the door to investment opportunities in a completely new type of asset class – cryptocurrency. Many went into space early.

Intrigued by the huge potential of these younger but promising assets, they bought the crypto at cheap prices. So in 2017, they became millionaires / billionaires. Decent income was received even by those who did not bet much.

After three years, cryptocurrencies are still profitable, and the market is here for a long time. Maybe you are already an investor / trader or maybe you are planning to try your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.

Cryptocurrencies have a bright future

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

Cryptocurrencies will no longer be seen as outcasts, but as an alternative to existing monetary systems. Their benefits, such as security, speed, minimum transaction fees, ease of storage and relevance in the digital age, will be recognized.

Specific regulatory guidelines would promote cryptocurrencies and facilitate their adoption. The report estimates that by 2030 there will be 200 million cryptocurrency wallet users and nearly 350 million by 2035.

An opportunity to become part of a growing community

#IndiaWantsCrypto from WazirX the campaign recently ended 600 days ago. This has become a massive movement in support of the adoption of cryptocurrencies and blockchains in India.

In addition, a recent Supreme Court ruling that lifts the ban on RBI cryptocurrencies from 2018 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 results, 73% of Indians trust cryptocurrencies and blockchain technology. 60% say the cryptocurrency / blockchain impact will be positive.

As an investor in cryptocurrency, you become part of a thriving and fast-growing community.

Increased profit potential

Diversification is an important rule for investment. Especially at a time when most assets have suffered heavy losses due to economic hardship caused by the COVID-19 pandemic.

While investing in bitcoin has yielded 26% of profits since the beginning of the year to date, gold has returned 16%. Many other cryptocurrencies have registered three-digit ROI. Stock markets, as we all know, have shown sad figures. In April, oil prices are known to have fallen below zero.

Including bitcoin or any other cryptocurrency in your portfolio will protect the value of your fund in such uncertain global market situations. This fact was also impressed by the head of the macro-hedge fund billionaire Paul Tudor Jones, when a month ago he announced plans to invest in bitcoin.

Cryptocurrency markets operate 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 provide for human intervention. This way, you are free to trade crypto or invest in digital assets if you wish. This is a great benefit! Thus, cryptocurrency markets are very efficient.

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

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No documents or formalities are required

You can invest in bitcoin or any other cryptocurrency anywhere and anytime without preconditions.

Unlike conventional investment options, where an absurdly large number of documents are required to prove yourself as an “accredited investor”, crypto-investments are free for everyone. In fact, this was the intended purpose of generating cryptocurrencies. Democratization of finance / money.

To buy any cryptocurrency on WazirX, you need to open an account for which you just need to provide some basic information including your bank account information. Once they are checked, in a few hours, you can go.

The only property in the investment

When you buy bitcoin or any other cryptocurrency, you become the sole owner of that digital asset. The transaction takes place in a peer agreement.

Unlike bonds, mutual funds, stockbrokers, no third party “manages your investments” for you. You buy and sell when you want.

User autonomy is the biggest advantage of cryptocurrency systems, which provides incredible opportunities to invest and build a case on your 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 journey in cryptoinvestment.