The Benefits of Buying Cryptocurrencies Like Bitcoin in 2022

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2020 and 2021 have been pivotal years for cryptocurrency investments. The total trading and investment volume in certain cryptos like bitcoin and Ethereum had taken the market by storm so much that countries like El Salvador accepted the adoption of bitcoins as legal tender. Slowly, other assets like NFTs made their way into the market and they helped reinforce the already established culture of investing in aspects other than land, gold or stocks. The decentralized market and the lack of authoritarian governance has been a major factor for most people even in India to start exploring this market. Bitcoin has been in the news and most people enter the crypto market after witnessing the growth of bitcoin. the bitcoin price reached its all-time high in 2021 where it earned $67,000 in the month of November. Believers are on track for the value to hit nearly $100,000 this year.

Why invest in cryptocurrencies – Besides the rapid growth of cryptocurrencies over the past two years, there are many other reasons why the market is so attractive to new and old investors. Every day we are able to uncover something untapped in the market and the mystery can become intriguing to many. Especially with people with a higher risk tolerance, market volatility may not be a deciding factor. Long-term crypto enthusiasts have already reached the point of becoming millionaires, and experts believe that this year’s investments would produce a new batch of millionaires, if not billionaires. Cryptocurrencies have revolutionized the way the market works and are considered a safe haven for many people. The value of cryptos cannot be diluted due to interference from government regulations or authorities.

The benefits of bitcoin – Not only is it the oldest crypto on the market, but it also has the highest market capitalization since its introduction. These aspects speak volumes about the desirability of bitcoins to investors. Although not immune to erratic fluctuations, the BTC to INR the current value is significantly high. This means that the dramatic rise and fall may not be a huge concern for long-term investors.

Here are some of the main reasons why bitcoin is expected to remain popular for years to come:

  • Adoption as an asset – It is expected that more people will adopt and integrate bitcoin as a digital investment asset in 2022. Better understanding of this industry will lead to more widespread adoption by industries, businesses and even countries. El Salvador has already expressed interest in using BTC as legal tender to better facilitate the country’s economy.
  • Regulations – With growing popularity, several market analysts believe that cryptocurrency will witness more regulations in different countries. Several government authorities will likely seek to streamline the process of buying, selling, and trading crypto to maintain a uniform protocol. Clearer regulation can help build confidence in the industry as a whole.
  • Market share – Bitcoin now holds a total market share of 70% of all cryptocurrencies. According to analysts, the value would have increased by 40% more after January 2021. With the advent of metaverses, NFTs and more digital currencies, it would be interesting to see how the value of bitcoin is affected.
  • Support from banks – Even though global banks were previously skeptical about adopting bitcoins into their flow, they have now recognized the value and benefits of introducing bitcoin-related services in 2022. Major banks around the world are looking to undertake projects that would revolve around customer needs. to exchange bitcoins.
  • Increase in ownership opportunities – Bitcoin and cryptocurrencies can create a lot of property-related opportunities as people look for newer and more innovative ways to invest in businesses and technologies. Big tech companies and their reliance on bitcoins would also snowball more people into the arena with full force.

Buy cryptocurrencies in the current market: Buying cryptocurrency is as easy as following a few simple steps.

  • Select a trading platform — An exchange is a mechanism through which buyers and sellers can meet to exchange cryptocurrencies. In India, various platforms, like CoinSwitch, allow willing and potential investors to meet and trade securely.
  • Create an account — Create an account on one of these websites and activate it by registering for KYC, providing relevant documentation and information, and submitting banking information. To start trading, you must first deposit funds into your account.
  • Place the crypto order — After researching and deciding which currency(s) to exchange, place the order. Some platforms allow you to do this with a value as low as INR 100.

There is no doubt that cryptocurrency is an area of ​​lucrative opportunities and endless growth. Most people who have made smart investments in this sector have seen their savings increase in several ways. Make sure you do an analysis of your risk tolerance and the money you would be willing to invest in an industry with no defined pattern. Although this is promising, you can never be too careful. Find the best advice and platforms before you start your investment.

Featured Image Credit: Aleksi Raisa on Unsplash



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