The advent of bitcoin in 2009 opened up investment opportunities in cryptocurrency, a brand-new asset class. Parts entered the space way early.
They bought cheap cryptos because they were intrigued by the enormous potential of these new but promising assets. As a result, they became millionaires or billionaires during the 2017 bull market. Indeed, even the people who didn’t stake a lot of procured good benefits.
After three years, the market is here to stay and cryptocurrencies continue to be profitable. You might be an investor or trader already, or you might think about trying your luck. Knowing the advantages of investing in cryptocurrencies makes sense in both situations.
Credit and debit cards will become obsolete, according to a Deutsche Bank report titled Imagine 2030. Cryptocurrency has a bright future. They will be replaced by smartphones and other electronic devices.
When it comes to monetary systems, cryptocurrencies will no longer be seen as outcasts but as alternatives. They will be recognized for their advantages, which include their relevance in the digital age, speed, security, minimal transaction fees, and ease of storage.
The acceptance of cryptocurrencies would rise as a result of more stringent regulatory guidelines. By the year 2035, there will be almost 350 million people using cryptocurrency wallets, according to the report.
Chance to Join a Growing Community WazirX’s #IndiaWantsCrypto campaign has now been running for 600 days. It has turned into an enormous development supporting the reception of cryptographic forms of money and blockchain in India.
Also, the RBI’s crypto banking ban from 2018 has been overturned by a Supreme Court decision, which has given Indian bitcoin and cryptocurrency investors new confidence.
People’s growing faith in cryptocurrencies and blockchain technology is also highlighted in the 2020 Edelman Trust Barometer Report. According to the findings, 73% of Indians have faith in blockchain technology and cryptocurrencies. 60% believe that cryptocurrency and blockchain will have a beneficial effect.
Investors in cryptocurrencies stand to benefit from being a part of a community that is flourishing and expanding rapidly.
An essential investment rule is to diversify your portfolio for increased profit potential. Particularly during these times, when the majority of assets have suffered significant losses as a result of the economic difficulties brought on by the COVID-19 pandemic.
From the beginning of the year until now, bitcoin investments have returned 26%, while gold investments have returned 16%. ROIs in the triple digits have been recorded for many other cryptocurrencies. We all know that stock markets have performed poorly. In April, crude oil prices notoriously fell below zero.
In such uncertain global market conditions, including bitcoin or any other cryptocurrency in your portfolio would safeguard your fund’s value. When billionaire macro hedge fund manager Paul Tudor Jones announced plans to invest in Bitcoin a month ago, he also emphasized this fact.
Cryptocurrency markets are open around the clock, 365 days a year. Unlike traditional markets, cryptocurrency markets are open around the clock. This is due to the fact that digital currency systems are essentially constructed from cryptographically protected pieces of software code.
There is no human intervention in the operational blueprint. Therefore, you can trade cryptocurrency or invest in digital assets at any time. That’s a huge advantage! That makes cryptocurrency markets very efficient.