Why are investors rushing towards crypto?
Cryptocurrency is new but has already caught many eyeballs; it could be the future of finance. Just like the internet revolutionised communication over the years, cryptocurrencies are revolutionizing money.
Rather, “why not crypto, boss?”
More than 1 crore Indians are on CoinSwitch Kuber, making it India’s largest and simplest cryptocurrency app.
Still not convinced about investing in crypto?
Alright. Rewind your memories back to the time when the Internet had just seen the light of the day. Skepticism, confusion, and debates about the Internet were at their peak. Can you imagine what today’s new world of Social Media Networks and Work From Home would be like without the Internet? Would you still have been reading this article?
Cryptocurrency is new but has already caught many eyeballs; it could be the future of finance. Just like the internet revolutionised communication over the years, cryptocurrencies are revolutionising money.
Now, here are a few reasons why cryptocurrency is a better investment choice:
- Hack Resistant: Crypto, backed by the powerful Blockchain technology makes it nearly impossible for the hackers to go about their evil deed as they have to encrypt and get access to each block which is a heavy time consuming, and extremely expensive process.
- Robust: System failure is rare. In fact, Bitcoin has experienced sero network failure over the past decade.
- Transparent: Every transaction ever made on the blockchain can be traced back to its parties. And most importantly, unlike RBI controlling INR, there’s no middle-man or center of authority between you and cryptocurrencies.
- Global: Its decentralised nature allows cryptocurrencies to be a truly global currency. For instance, one Bitcoin in India is the same as one Bitcoin in the US.
But the most important characteristic of crypto is its store-of-value proposition. Cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, etc., are also being seen as store-of-value assets by investors worldwide, much like gold or other physical commodities.
You talk to a room full of people about cryptocurrency and they will either debate on its legality or its volatility.
Yes! The crypto market is volatile but No! It’s not illegal Anybody Can Crypto!
The cryptocurrency market is highly volatile, proving to be a downside for investors looking to day trade in cryptocurrencies or someone who wants to invest for a short run. However, this risk is curbed for investors who wish to stay in the game for the long run.
Now let’s talk about profits. Interesting, huh?
Current market trends say Bitcoin, Ethereum, Binance Coin, and many others have garnered profits over time but they have seen enough market dips too. For instance, 1 Bitcoin bought in 2019 for around ₹3 lacs will now be valued at around ₹36 lacs.
Investing in cryptocurrency is no rocket science; all you need to do is research as much as you can and know your investment goals. Dodging the market volatility is impossible but dealing with it is a smart man’s task. So, skip the wait and start investing in crypto with CoinSwitch Kuber, India’s simplest crypto trading app.