The particular birth of bitcoin in 2009 opened doorways to investment opportunities in an entirely new kind of asset class – cryptocurrency. Lots entered the space method early.
Intrigued by the immense potential of these fledgling but promising possessions, they bought cryptos at cheap prices. Consequently, the bull operate of 2017 saw them become millionaires/ billionaires. Even those who did not stake much reaped decent income.
Three years later cryptocurrencies still stay profitable, and the market is here to stay. You may already be an investor/trader or maybe contemplating trying your luck. 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to a report titled Picture 2030, published by Deutsche Financial institution, credit and debit cards will become outdated.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 since outcasts but alternatives to existing monetary systems. Their benefits, like security, speed, minimal transaction fees, ease of storage, and relevance in the digital era, will be recognized.
Concrete regulatory guidelines would popularize cryptocurrencies, and boost their adoption. The report forecasts that there will be two hundred million cryptocurrency wallet users by 2030, and almost 350 million by the year 2035.
Opportunity to be part of a Growing 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 offers instilled a new rush of confidence amongst Indian bitcoin and cryptocurrency investors.
The 2020 Edelman Rely on Barometer Report also points out individuals rising faith in cryptocurrencies and blockchain technology. As per the results, 73% of Indians trust cryptocurrencies and blockchain technology. 60% declare the impact of cryptocurrency/blockchain is going to be positive.
By being a cryptocurrency trader, you stand to be a part of a thriving and rapidly growing community.
Increased Profit Potential
Diversification is an essential investment thumb rule. Especially, of these times when the majority of the assets have sustained heavy losses due to economic challenges spurred by the COVID-19 pandemic.
Whilst investment in bitcoin has given 26% returns from the starting from the year to date, gold has returned 16%. Many other cryptocurrencies have registered three-digit ROI.
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Stock markets once we all know have posted dismal performances. Crude oil prices notoriously crashed beneath 0 in the month of Apr.
Including bitcoin or any other cryptocurrencies in your portfolio would protect your fund’s value in such uncertain worldwide market situations. This fact was also impressed upon by billionaire macro hedge fund manager Paul Tudor Jones when a month back this individual announced plans to invest in Bitcoin.