Bitcoin’s introduction in 2009 cleared the path for investing opportunities in a completely new asset class. At the event, a large number of individuals arrived early. They bought cryptos at bargain prices because they were enthralled by the enormous potential of these immature but promising assets. They became millionaires and billionaires due to the bull market in 2017. Even those who didn’t put much money on the table came ahead.
According to cryptocurrencies news, cryptocurrencies are still profitable, and they are here to stay. You could be a trader or an investor already, or you might be considering it. It makes sense to grasp the benefits of investing in cryptocurrencies in both cases. Check out the benefits of investing in cryptocurrency:
- Cryptocurrency Has a Bright Future
Credit and debit cards will be outdated by 2030, according to a Deutsche Bank research titled Imagine 2030. Smartphones and other modern devices will replace them. Cryptocurrencies will no longer be seen as outliers but as legitimate alternatives to existing monetary systems. Their benefits will be acknowledged, such as security, speed, cheap transaction fees, storage simplicity, and relevancy in the digital era. If clear regulatory regulations were implemented, cryptocurrencies would grow in popularity and usage. By 2030, there will be 200 million bitcoin users, and by 2035, there will be more than 350 million.
- An opportunity to be a part of a growing community
The use of cryptocurrencies and blockchain technology has become a significant movement in India. Furthermore, the recent Supreme Court judgment rejecting the Reserve Bank of India’s (RBI) crypto banking restriction, enacted in 2018, has inspired a new surge of excitement among Indian bitcoin and cryptocurrency investors.
According to the 2020 Edelman Faith Barometer Report, people’s trust in cryptocurrencies and blockchain technology has increased. Seventy-three percent of Indians trust cryptocurrencies and blockchain technology, according to studies. Sixty percent feel that cryptocurrencies and blockchain will have a positive impact. If you invest in cryptocurrencies, you will become part of a vibrant and rapidly growing community.
- Improved profitability
Diversification is a crucial financial principle. Especially now, when the COVID-19 pandemic’s economic troubles have resulted in massive asset losses. Since the beginning of the year, investing in bitcoin has provided a 26 percent return, while gold has yielded a 16 percent return. Several other coins have returned three digits. The stock market has had a rough year, as we all know. For more information, check out the latest cryptocurrency news.