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Benefits of Investing in Cryptocurrencies
The birth of bitcoin in 2009 opened doors to funding opportunities in an entirely new kind of asset class - cryptocurrency. Heaps entered the area way early.
Intrigued by the immense potential of those fledgling but promising assets, they bought cryptos at low cost prices. Consequently, the bull run of 2017 saw them turn out to be millionaires/ billionaires. Even those who did not stake a lot reaped first rate profits.
Three years later cryptocurrencies still stay profitable, and the market is right here to stay. Chances are you'll already be an investor/trader or perhaps contemplating making an attempt your luck. In each cases, it makes sense to know the benefits of investing in cryptocurrencies.
Cryptocurrency Has a Bright Future
In keeping with a report titled Imagine 2030, revealed by Deutsche Bank, credit and debit cards will turn into obsolete. Smartphones and other electronic gadgets will change them.
Cryptocurrencies will now not be seen as outcasts but options to current monetary systems. Their benefits, akin to security, speed, minimal transaction fees, ease of storage, and relevance within the digital period, will be recognized.
Concrete regulatory guidelines would popularize cryptocurrencies, and increase their adoption. The report forecasts that there will be 200 million cryptocurrency wallet users by 2030, and almost 350 million by the yr 2035.
Opportunity to be part of a Growing Community
WazirX's IndiaWantsCrypto campaign lately completed 600 days. It has become a massive movement supporting the adoption of cryptocurrencies and blockchain in India.
Also, the latest 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 factors 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 quickly growing community.
Elevated Profit Potential
Diversification is an essential investment thumb rule. Particularly, throughout these instances when the mainity 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 12 months thus far, gold has returned 16%. Many different cryptocurrencies have registered three-digit ROI. Stock markets as all of us know have posted dismal performances. Crude oil prices notoriously crashed beneath 0 in the month of April.
Including bitcoin or any other cryptocurrencies in your portfolio would protect your fund's value in such unsure world market situations. This fact was additionally impressed upon by billionaire macro hedge fund manager Paul Tudor Jones when a month back he introduced plans to spend money on Bitcoin.
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