6 Benefits of Investing in Cryptocurrencies

Fascinated by the enormous potential of this young but promising asset, they bought cryptocurrencies at an affordable price. As a result, he became a millionaire/billionaire in the 2017 Bull Run. Even if you don’t take a lot of risk, you can get a significant profit.

After three years, cryptocurrencies are still profitable and the market remains. Perhaps you are already an investor/trader or want to try your luck. In either case, it is good to understand the benefits of investing in cryptocurrencies.

Cryptocurrency has a bright future

Credit and debit cards will be deprecated, according to a report called Imagine 2030 published by Deutsche Bank. Smartphones and other electronic devices will replace them.

Cryptocurrency is no longer a marginalized entity, but an alternative to the traditional monetary system. Benefits such as security, speed, minimal transaction fees, easy storage and relevance in the digital age are recognized.

Specific regulatory guidelines will popularize and increase acceptance of cryptocurrencies. The report estimates that there will be 200 million cryptocurrency wallet users by 2030 and nearly 350 million by 2035.

Opportunity to be part of a thriving community

WazirX’s #IndiaWantsCrypto campaign has ended in the last 600 days. This was a huge move supporting the adoption of cryptocurrencies and blockchains in India.

A recent Supreme Court ruling to lift the RBI cryptocurrency banking ban in 2018 has sparked renewed confidence among Bitcoin and cryptocurrency investors in India.

The Edelman Trust Barometer Report 2020 also shows the growing public trust in cryptocurrencies and blockchain technology. Results show that 73% of Indians trust cryptocurrency and blockchain technology. 60% said the effects of cryptocurrency/blockchain would be positive.

By becoming a cryptocurrency investor, you become part of a thriving and fast-growing community.

Increased profit potential

Diversification is an important principle of investing. Also, most of our assets suffered heavy losses during these times due to the economic hardships triggered by the COVID-19 pandemic.

Investments in Bitcoin have returned 26% so far since the beginning of the year, while gold has returned 16%. Many other cryptocurrencies have published 3-digit ROIs. As we all know, the stock market underperformed. As is well known, crude oil prices fell below zero in April.

Including Bitcoin or other cryptocurrencies in your portfolio protects the value of your funds in uncertain global market conditions. This fact was also impressed when billionaire macro hedge fund manager Paul Tudor Jones announced plans to invest in Bitcoin a month ago.

Active Cryptocurrency Market 24X7X365

Unlike the regular market, the cryptocurrency market operates 24 hours a day, year-round without fatigue. This is because digital money systems are primarily designed using cryptographically protected software code.

Operational planning does not involve human intervention. So you can always trade cryptocurrencies or invest in digital assets. That’s a big plus! The cryptocurrency market is very efficient.

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

No paperwork or paperwork required

You can invest in Bitcoin or other cryptocurrencies anytime, anywhere with no unnecessary conditions.

Unlike traditional investment options that require a lot of documentation to prove you are a “accredited investor,” crypto investing is free for everyone. In fact, this is the intended purpose of the creation of cryptocurrencies. Finance/monetary democratization.

To buy cryptocurrency on WazirX, you need to open an account where you only need to provide some basic information, including your bank account information. Once confirmed, you can get started in a few hours.

sole ownership in the field of investment

When you buy Bitcoin or any other cryptocurrency, you become the sole owner of your digital asset. Transactions occur in a peer-to-peer environment.

Unlike bonds, mutual funds and stock brokers, there is no third party managing your investments. Each time W calls buy and sell.com.

User autonomy is the greatest asset of the cryptocurrency system, providing the opportunity to invest “independently” and build a corpus in the capital.

Here are some of the benefits of investing in cryptocurrencies. We hope this is useful and convincing enough to start your crypto investment journey.

Read more about what cryptocurrencies are and what you need to know before investing in cryptocurrencies at wazirx.com, one of the most trusted cryptocurrency exchange platforms.

You can also download the app and start trading now!