Cryptocurrency Investing (6.3 Minutes Read)
The development of bitcoin in 2009 paved the way for investment opportunities in a brand-new asset class: cryptocurrency. A large number of people arrived early in the room.
They bought cryptos at low prices because they were intrigued by the enormous potential of these fledgling but promising properties. As a result of the bull market in 2017, they became millionaires and billionaires. Those who didn’t put a lot of money on the table made a fair profit.
Cryptocurrencies are already lucrative three years later, and the demand is here to stay. You may already be an investor or trader, or you may be considering it. It makes sense to understand the advantages of investing in cryptocurrencies in both situations.
The Future of Cryptocurrency Is Bright
Credit and debit cards will become obsolete, according to a study published by Deutsche Bank titled Imagine 2030. Smartphones and other mobile devices will replace them.
Cryptocurrencies would no longer be considered outcasts but somewhat viable alternatives to current monetary structures. Their advantages will be recognized, such as security, speed, low transaction fees, ease of storage, and relevance in the digital age.
Cryptocurrencies would gain popularity and acceptance with clear regulatory guidelines established. According to the study, by 2030, there will be 200 million cryptocurrency wallet users, and by 2035, there will be nearly 350 million.
a chance to be a member of a burgeoning community
The #IndiaWantsCrypto campaign by WazirX recently reached 600 days. It has developed into a massive movement in India to promote the adoption of cryptocurrencies and blockchain technology.
The recent Supreme Court decision overturning the RBI’s crypto banking ban, which went into effect in 2018, has sparked a new wave of optimism among 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.
Being a cryptocurrency investor, you stand to be a part of a thriving and rapidly growing community.
People’s confidence in cryptocurrencies and blockchain technology is growing, according to the 2020 Edelman Trust Barometer Report. According to the results, 73% of Indians believe in cryptocurrency and blockchain technology. 60% believe that cryptocurrency/blockchain would have a positive effect.
You will be a part of a vibrant and exponentially rising ecosystem if you invest in cryptocurrencies.
Under such volatile global market situations, including bitcoin or other cryptocurrencies in your portfolio will preserve your investment valuation. When Paul Tudor Jones, a macro hedge fund manager, announced plans to invest in Bitcoin a month ago, he emphasized this fact.
Cryptocurrency markets are open 24 hours a day, seven days a week, 365 days a year, in contrast to traditional markets.
The organizational blueprint doesn’t require human intervention. So, you are free to trade crypto or invest in digital assets whenever you want to. That’s a fantastic advantage! In this way, cryptocurrency markets are highly effective.
Since its launch in 2009, Bitcoin, for example, has successfully handled transactions with a 99.98 percent uptime.