Here is Why You Should Not Doubt Your Investment in Cryptocurrencies

Despite the growing popularity of cryptocurrencies across the globe, there is still a sect of people who are in dilemma whether to invest in cryptocurrencies. Digital coin trading is very lucrative because of the high returns it has to offer but having said that the cryptocurrency market also remains highly volatile, which is the main cause for a lot of people to hold back from investing in crypto. If the trends are to be studied, the future of cryptocurrency in India looks bright with the younger generation showing their interest in gravitating away from traditional investments and exploring the whole new world of cryptocurrencies.

If you have an interest in crypto trading but have your doubts, then read on because we present below some strong reasons for you to stop doubting and start investing in digital coins.

1. Cryptocurrencies are new generation investments: The introduction of Bitcoin marked a new phase of technological advancement in the history of mankind. As we all know cryptocurrencies are hosted using highly sophisticated, and secure blockchain technology. The open-source and publicly verifiable technology makes the transaction transparent, and quick. This particularly impresses the millennials who are all things digital and cryptocurrency trading fits their need because it can be bought, sold, or held only digitally.

2. Increased acceptance of cryptocurrencies: Though crypto was introduced a decade ago, it is only in the last few years that a lot of people are now accepting cryptocurrency as a mode of investment and transaction. There has been a substantial increase in the number of investors investing in digital currencies and also in the recent past we have noticed a lot of vendors/merchants beginning to accept cryptocurrencies as a mode of payment.

3. You can control your assets: The characteristic decentralized nature of cryptocurrencies gives you the power to control how you own, store and trade the digital coins without the involvement of a middleman. The traders get to avail maximum profits from the current exchange rates, as it is not determined by any exchange platform.

4. Deflationary assets: If you have narrowed down the top cryptocurrency to invest, then keep in mind that most of the cryptocurrencies including Bitcoin are circulated in limited supply. This means that the purchasing power increases with passing time, and each cryptocurrency has a cap to the total supply making it highly valuable.

5. Great option for long-term investment: Crypto market is often considered synonymous with fluctuation and volatility, but despite these characteristics, investing in cryptocurrencies has proven to be very beneficial in the long run. It makes a great choice if you are trying to create a reliable source of savings after your retirement. No wonder people who have been holding Bitcoins for a very long time are called ‘Bitcoin Billionaires’.

6. Flexible and Scalable: The USP of cryptocurrency trading lies in its being highly flexible and convenient. It gives access to investors to trade 24/7 with ease from any part of the world. Blockchain technology makes buying and selling cryptocurrencies extremely easy, and all one needs is a valid bank account. There are several reputed crypto exchange platforms like Coin Switch that allow a person to start a crypto investment with just 100 rupees. With no governance from any bank or the government, only a peer-to-peer network is established, and you have access to your complete money.

7. Create employment opportunities: Once the government of India lays concrete rules on cryptocurrency trading, India will see a surge of cryptocurrency trading start-ups, because it requires minimal infrastructure and has a reach pan India.

8. Immunity to inflation: Fiat currency always carries a fear of inflation under its wings if the government decides to stop printing it. On the other hand, cryptocurrencies are not bound by any government regulations, and hence such an act will not create an inflation situation for them.

9. Low transaction amount: The transaction fee for crypto trading is considerably low, and there are no taxes associated with Bitcoin. However, when you convert the crypto into fiat currency, the tax will get deducted from the profits you make.

Hope the above points have given you enough confidence to take a plunge into a crypto investment, however, always remember to do your research and proceed prudently with the crypto investment. There are a lot of myths and biases that revolve around cryptocurrencies. It’s in the best interest if you read about it thoroughly, discuss it with a person who has the experience, and get rid of all the incorrect information that surrounds it. It’s wise to understand the technology behind the assets, so that you know what to expect from it in future. Remember to explore all the different cryptocurrencies beyond Bitcoin to reap maximum benefit. Each digital currency has its own liquidity, so make a wise decision. 

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