How cryptocurrencies remain profitable

The advent of bitcoin in 2009 opened the door to investing opportunities in a completely new type of asset known as cryptocurrency. A lot of investors entered the space in the early days.

Intrigued by the immense potential of these new but promising investments and cryptocurrencies, investors bought them for a low price. Consequently, the bull run of 2017 saw them turn into billionaires and millionaires. Even those who didn’t stake many times reaped decent profits.

Three years later cryptocurrencies still remain profitable, and the market is set to continue. Perhaps you are already an investor/trader or maybe contemplating the possibility of trying your hand at. In both cases it is sensible to learn about the benefits of investing in cryptocurrencies.

Cryptocurrency Has a bright future

According to a research report titled Imagine 2030, published Best crypto insurance company by Deutsche Bank, credit and debit cards are set to become obsolete. Mobile phones and electronic gadgets will replace them.

Cryptocurrencies won’t be considered outcasts, but instead as an alternative to current monetary systems. The advantages they bring, like reliability, security, minimal charges for transactions, the ease of storage, and importance in the age of digital, will be recognized.

A set of clear regulations would help popularize cryptocurrencies, and boost their use. The report predicts that there will be around 200 million cryptocurrency wallet users by 2030, and almost 350 million by the year 2035.

Opportunity to be part of an Growing Community

the #IndiaWantsCrypto campaign recently completed 600 days. It’s now a huge movement supporting the adoption of blockchain technology and cryptocurrency in India.

Furthermore, the recent Supreme Court judgment nullifying RBI’s crypto banking ban until 2018 . It has brought a new excitement of confidence among Indian bitcoin and cryptocurrency traders.

In 2020, the Edelman Trust Barometer Report also points out peoples’ rising faith in cryptocurrencies and blockchain technology. According to the report, 73% of Indians believe in blockchain and cryptocurrency technology. 60% say that the impact of cryptocurrency/blockchain will be positive.

If you are a cryptocurrency investor You will be part of an active and fast-growing community.

More Profitable

Diversification is an essential principle. Particularly during times when the majority of the assets have incurred large losses due to the economic difficulties caused by the COVID-19 pandemic.

Although bitcoin investment has produced returns of 26% since the beginning of the year, to date gold has given 16%. Other cryptocurrencies have also registered three-digit ROI. Stock markets as we all know have recorded poor performances. Crude oil prices notoriously crashed below 0 in the beginning of the month in April.

Incorporating bitcoin or other cryptocurrencies within your portfolio could help protect your fund’s value in these uncertain market situations. This idea was also commented on by billionaire macro hedge fund director Paul Tudor Jones when a month ago, he announced his plans for investing in Bitcoin.

Cryptocurrency Markets Are On 24X7

In contrast to normal market conditions, cryptocurrency markets are operational 24 hours a day, 7 the time, without fatigue. That’s because digital currency systems are constructed using bits of software code that are secured with cryptography.

The operational plan doesn’t require humans in any way. Thus, you’re free to invest or trade in crypto in digital assets at any time you want to. That’s an amazing advantage! The cryptocurrency markets are extremely efficient in this way.

 

No Paperwork or Formality Required

The ability to buy bitcoins or any cryptocurrency from anywhere and at any time, without needing limitations and restrictions.

As opposed to traditional investment options which require a hefty amount of documentation is required to establish yourself as an accredited investor the crypto-investment option is totally free for all. Actually, this was the intention behind the creation of cryptocurrency. The goal was to make money more accessible and affordable.

For buying any cryptocurrency on WazirX You must establish an account. For this, you will need to supply some basic details including the details of your bank account. After they have been verified, within a few hours, you are good to go.

The sole ownership of an Investment

If you buy bitcoin or another cryptocurrency you become the sole owner of this particular digital asset. The transaction happens through a peer-to-peer transaction.

Contrary to mutual funds, bonds or stockbrokers. No third party manages your investment on your behalf. You call the shots to buy and sell anytime you wish to.

The autonomy of the user is the main benefit of cryptocurrency systems that offers incredible opportunities to invest and create an accumulation of your primary capital , ‘independently’.

These are just some of the benefits of investing in cryptocurrencies. We hope that you will find them useful and convincing enough to begin your crypto investment journey.

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