November 23, 2020

6 Benefits of Investing in Cryptocurrencies

The birth of bitcoin in 2009 opened doors to investment opportunities in an completely new kind of asset class — cryptocurrency. Lots entered the space way early.
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Intrigued by the immense possible of these fledgling but promising assets, they bought cryptos at inexpensive prices. Consequently, the bull operate of 2017 saw them turn out to be millionaires/ billionaires. Even those who did not stake much reaped decent profits.

Three years later cryptocurrencies still remain profitable, and the market is here to remain. You may already be an investor/trader or maybe contemplating trying your good fortune. In both cases, it makes sense to know the advantages of investing in cryptocurrencies.

Cryptocurrency Has a Vivid Future

According to a report titled Picture 2030, published by Deutsche Financial institution, credit and debit cards will become outdated. Smartphones and other electronic devices will substitute them.

Cryptocurrencies will no longer be seen as outcasts but alternatives to current monetary systems. Their benefits, like security, speed, minimal transaction charges, ease of storage, and relevance in the digital era, will be recognized.

Concrete regulatory guidelines would popularize cryptocurrencies, and boost their adoption. The particular report forecasts that there will be 200 million cryptocurrency wallet users simply by 2030, and almost 350 million by the year 2035.

Opportunity to be part of an increasing Community

WazirX’s #IndiaWantsCrypto campaign recently completed 600 days. It has become a massive movement supporting the re-homing of cryptocurrencies and blockchain in India.

Also, the recent Best Court judgment nullifying RBI’s crypto banking ban from 2018 has instilled a new rush of self-confidence amongst Indian bitcoin and cryptocurrency investors.

The 2020 Edelman Trust Barometer Report also points out individuals rising faith in cryptocurrencies and blockchain technology. As per the findings, 73% of Indians trust cryptocurrencies and blockchain technology. 60% declare the impact of cryptocurrency/blockchain is going to be positive.

By being a cryptocurrency investor, you stand to be a part of the thriving and rapidly growing community.

Improved Profit Potential

Diversification is an important investment thumb rule. Especially, over these times when the majority of the assets have sustained heavy losses due to economic challenges spurred by the COVID-19 pandemic.

While investment in bitcoin has provided 26% returns from the starting from the year to date, gold has returned 16%. Many other cryptocurrencies have registered three-digit ROI. Stock markets even as we all know have posted dismal shows. Crude oil prices notoriously crashed beneath 0 in the month of April.

Including bitcoin or any other cryptocurrencies in your portfolio would protect your fund’s value in such uncertain worldwide market situations. This fact seemed to be impressed upon by billionaire macro hedge fund manager Paul Tudor Jones when a month back this individual announced plans to invest in Bitcoin.

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