Cryptocurrency are the “big news” of the digital world and are now recognized as part of the monetary system. In fact, enthusiasts have referred to it as “the money revolution.” Cryptocurrencies are clearly decentralized digital assets that can be traded between users without the need for a central authority. Most of these are created using special computational techniques called “mining.”
The acceptance of currencies such as the US dollar, the British pound and the euro as legal tender depends on their being issued by a central bank. However, digital currencies like cryptocurrencies do not depend on the public’s trust in the issuer. As such, several factors determine its value. Many entered space very early.
Intrigued by the immense potential of those novice but promising assets, they bought cryptocurrencies at a coffee price. Therefore, the Battle of Bull run of 2017 saw them become millionaires / billionaires.
Even those that didn’t gamble lots made decent profits. Three years later, cryptocurrencies are still profitable and also the market is here to remain. Maybe you’re already an investor / trader or even you’re considering giving it a try. In any case, it is smart to grasp the advantages of Investing In Cryptocurrency.
Do the Investing In Cryptocurrency Make Bright Future
According to a report published by Deutsche Bank called Imagine 2030, credit and debit cards will be out of date. Smartphones and other electronic devices are replacing them.
Cryptocurrencies are no longer considered pariahs, but rather alternatives to existing monetary systems. Its advantages such as security, speed, low transaction costs, easy storage and relevance in the digital age are recognized.
Concrete regulatory guidelines would make cryptocurrencies popular and encourage their introduction. The report predicts that there will be 200 million crypto wallet users by 2030 and nearly 350 million by 2035.
Become a Part of Growing Community
The 2020 report also highlights people’s growing confidence in cryptocurrencies and block-chain technology. According to the results, 73% of Asians trust cryptocurrencies and block-chain technology. 60% say the effects of cryptocurrency / block-chain will be positive.
As a cryptocurrency investor, you can be part of a rapidly growing and thriving community.
Diversification is a rule of thumb when investing. Especially at a time when most assets have suffered heavy losses due to the economic hardship caused by the COVID-19 pandemic.
While Investing In Cryptocurrency so far this year have seen a return of 26%, gold has achieved a return of 16%. Many other cryptocurrencies have achieved a three-digit ROI. As we all know, stock markets have performed poorly.
Crude oil prices fell well below zero in April. Adding Bitcoin or any other cryptocurrency to your wallet would protect the value of your fund in these uncertain global market situations.
That fact also impressed billionaire macro hedge fund manager Paul Tudor Jones when he announced his intention to invest in Bitcoin a month ago.
Market runs on 24 *7 * 365 basis
Unlike traditional markets, cryptocurrency markets are open 24 hours a day, 7 days a week, every day of the year, without fatigue. This is because digital currency systems are essentially designed with software code protected by cryptography.
The operational plan does not include any human intervention. Therefore, you can still trade cryptocurrencies or invest in digital assets. This is a great advantage! The cryptocurrency markets are very efficient in this way. I.e., Bitcoin has successfully processed transactions with 99.98% availability since its inception in 2009
Without Paperwork Formality
You can invest in Bitcoin or any other cryptocurrency anywhere, anytime, without unnecessary terms and conditions.
Unlike conventional investment options, which require an absurdly high amount of documentation to prove you’re an “accredited investor,” the crypto system is free for everyone. In fact, that was the goal behind the introduction of cryptocurrencies. Democratization of finance / money.
To buy cryptocurrency on WazirX, you need to open an account for which you only need to provide some basic information, including your bank details. Once verified, it can be up and running within hours.
Investment in Sole Ownership
When you purchase bitcoin or other cryptocurrency, you become sole owner of that specific digital asset. The transaction takes place in a peer-to-peer agreement. Unlike bonds, mutual funds, and brokers, no third party “manages” your investment for you.
You name the buying and selling plans whenever you want. User autonomy is the greatest benefit of cryptocurrency systems, which offer incredible opportunities to “independently” invest and build a corpus of your core capital.
These are some of the benefits of Investing In Cryptocurrency. We hope you find them useful and attractive enough to start your crypto investing journey