Benefits of Investing in Cryptocurrencies

The start of bitcoin in 2009 opened doors to investment opportunities in an entirely new kind of asset class – cryptocurrency. Tons entered the house way early.

Intrigued by the immense potential of these fledgling but promising assets, they purchased cryptos at cheap prices. Consequently, the bull run of 2017 noticed them grow to be millionaires/ billionaires. Even those that didn’t stake much reaped respectable profits.

Three years later cryptocurrencies still remain profitable, and the market is right here to stay. You might already be an investor/trader or perhaps contemplating attempting your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.

Cryptocurrency Has a Vivid Future

Based on a report titled Imagine 2030, printed by Deutsche Bank, credit and debit cards will grow to be obsolete. Smartphones and other digital units will replace them.

Cryptocurrencies will not be seen as outcasts however alternate options to present monetary systems. Their benefits, equivalent to security, speed, minimal transaction charges, ease of storage, and relevance in the digital era, will be recognized.

Concrete regulatory guidelines would popularize cryptocurrencies, and increase their adoption. The report forecasts that there will be 200 million cryptocurrency wallet customers by 2030, and nearly 350 million by the year 2035.

Opportunity to be part of a Growing Community

WazirX’s IndiaWantsCrypto campaign recently accomplished 600 days. It has grow to be a massive movement supporting the adoption of cryptocurrencies and blockchain in India.

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

The 2020 Edelman Trust Barometer Report additionally points out peoples’ rising faith in cryptocurrencies and blockchain technology. As per the findings, 73% of Indians trust cryptocurrencies and blockchain technology. 60% say that the impact of cryptocurrency/blockchain will be positive.

By being a cryptocurrency investor, you stand to be a part of a thriving and quickly rising community.

Elevated Profit Potential

Diversification is an essential investment thumb rule. Especially, throughout these occasions when the majority of the assets have incurred heavy losses as a result of financial hardships spurred by the COVID-19 pandemic.

While funding in bitcoin has given 26% returns from the starting of the year so far, gold has returned sixteen%. Many other cryptocurrencies have registered three-digit ROI. Stock markets as we all know have posted dismal performances. Crude oil prices notoriously crashed beneath 0 in the month of April.

Including bitcoin or every other cryptocurrencies in your portfolio would protect your fund’s value in such unsure world market situations. This truth was additionally impressed upon by billionaire macro hedge fund manager Paul Tudor Jones when a month back he announced plans to spend money on Bitcoin.

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