6 Benefits of Investing in Cryptocurrencies

𝑻𝒉𝒆 𝒃𝒊𝒓𝒕𝒉 𝒐𝒇 𝒃𝒊𝒕𝒄𝒐𝒊𝒏 𝒊𝒏 2009 𝒐𝒑𝒆𝒏𝒆𝒅 𝒅𝒐𝒐𝒓𝒔 𝒕𝒐 𝒊𝒏𝒗𝒆𝒔𝒕𝒎𝒆𝒏𝒕 𝒐𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝒂𝒏 𝒆𝒏𝒕𝒊𝒓𝒆𝒍𝒚 𝒏𝒆𝒘 𝒌𝒊𝒏𝒅 𝒐𝒇 𝒂𝒔𝒔𝒆𝒕 𝒄𝒍𝒂𝒔𝒔 - 𝒄𝒓𝒚𝒑𝒕𝒐𝒄𝒖𝒓𝒓𝒆𝒏𝒄𝒚. 𝑳𝒐𝒕𝒔 𝒆𝒏𝒕𝒆𝒓𝒆𝒅 𝒕𝒉𝒆 𝒔𝒑𝒂𝒄𝒆 𝒘𝒂𝒚 𝒆𝒂𝒓𝒍𝒚.

Intrigued by the immense potential of these fledgling but promising assets, they bought cryptos at cheap prices. Consequently, the bull run of 2017 saw them become millionaires/ billionaires. Even those who didn't stake much reaped decent profits.

Three years later cryptocurrencies still remain 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 benefits of investing in cryptocurrencies.

𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐇𝐚𝐬 𝐚 𝐁𝐫𝐢𝐠𝐡𝐭 𝐅𝐮𝐭𝐮𝐫𝐞

According to a report titled Imagine 2030, published by Deutsche Bank, credit and debit cards will become obsolete. Smartphones and other electronic devices will replace them.

Cryptocurrencies will no longer be seen as outcasts but alternatives to existing monetary systems. Their benefits, such as 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 200 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 adoption of cryptocurrencies and blockchain in India.

Also, 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 also 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 rapidly growing community.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐏𝐫𝐨𝐟𝐢𝐭 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥

Diversification is an essential investment thumb rule. Especially, during these times when the majority of the assets have incurred heavy losses due to economic hardships spurred by the COVID-19 pandemic.

While investment in bitcoin has given 26% returns from the starting of the year to date, gold has returned 16%. Many other cryptocurrencies have registered three-digit ROI. Stock markets as we all know have posted dismal performances. Crude oil prices notoriously crashed below 0 in the month of April.

Including bitcoin or any other cryptocurrencies in your portfolio would protect your fund's value in such uncertain global market situations. This fact was also impressed upon by billionaire macro hedge fund manager Paul Tudor Jones when a month back he announced plans to invest in Bitcoin.

𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐀𝐫𝐞 𝐎𝐧 𝟐𝟒𝐗𝟕𝐗𝟑𝟔𝟓

As opposed to usual markets, cryptocurrency markets operate round the clock, all days in a year without fatigue. That's because digital currency systems are essentially designed using pieces of software code that are secured by cryptography.

The operational blueprint doesn't involve human interference. So, you are free to trade crypto or invest in digital assets whenever you want to. That's a great benefit! Cryptocurrency markets are very efficient that way.

E.g., Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.

𝐍𝐨 𝐏𝐚𝐩𝐞𝐫𝐰𝐨𝐫𝐤 𝐨𝐫 𝐅𝐨𝐫𝐦𝐚𝐥𝐢𝐭𝐲 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐝

You can invest in bitcoin or any other cryptocurrency anywhere and anytime without any unnecessary terms and conditions.

Unlike conventional investment options, where an absurdly high amount of documentation is required to prove yourself as an 'accredited investor', crypto-investment is free for all. In fact, that was the intended goal behind the inception of cryptocurrencies. The democratization of finance/money.

For buying any cryptocurrency on WazirX, you need to open an account for which you just need to provide some basic details including your bank account information. Once they are verified, within a few hours, you are good to go.

𝐒𝐨𝐥𝐞 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐢𝐧 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭

When you buy bitcoin or any other cryptocurrency, you become the sole owner of that particular digital asset. The transaction happens in a peer-to-peer arrangement.

Unlike bonds, mutual funds, stockbrokers, no third party 'manages your investment' for you. You call the buying and selling shots, whenever you want to.

User autonomy is the biggest benefit of cryptocurrency systems that provides incredible opportunities to invest and build a corpus on your principal capital 'independently'.

These were some of the benefits of investing in cryptocurrencies. We hope you find them useful and convincing enough to kickstart your crypto investment journey.

Read more about what is a Cryptocurrency and things to know before investing in crypto at wazirx.com, one of the most trusted cryptocurrency exchange platform.