Undoubtedly, digital media has taken giant leaps in the delivery of information, communication, and of course technology in the past few years. This leap has also made way for the digital currencies/payments to take the center-stage amid the rise of e-commerce and digital banking/financing products.
Bitcoin is the hottest digital currency around the globe and is the most lucrative product in the finance and investment industry. BTC is up by 64% from January 2020 as the gravity-flouting performance of the crypto market is cornering the investor’s attention. Even though Bitcoin investment has a lot of things to prove to the financial regulators, it has exhibited a lot of real benefits to its users and these include; direct transfers for immediate settlement, protection from payments cam, lower transaction fees, reduced possibility of identity theft, lastly, access to historically inaccessible markets.
The question arises here is why should an investor invest in digital currency, especially in Bitcoin? Here are some of the reasons which have made BTC a more attractive and lucrative alternative investment.
The adoption for Bitcoin is skyrocketing across the world
In the year 2020, a lot of factors have come into play to influence the adoption of Bitcoin. One of the main reasons has been the outbreak of the COVID-19 pandemic where people have been advised by governments to use cashless means of making transactions (digital payments). This has led to the rise in the adoption of digital currencies especially BTC.
Since the most territorial borders have been closed, the movements have been limited. This has pushed many investors, businessmen, and clients, to invest in the cryptocurrency market for higher gains.
There are many issues associated with the transactions of fiat currencies and traditional money like it causes more worries, stress, and huge taxes, thus several businesses globally are now using Bitcoin as their primary virtual currency.
There are several cryptocurrencies that exist in the crypto industry but Bitcoin is the first and the most successful of them. The Bitcoin blockchain technology has been growing rapidly which has helped its global adaptation rate remarkably. Due to this reason, BTC has managed to build its credibility in the market. Due to the rise of the demand for BTC, several bitcoin exchanges in India have been established to meet the customers’ demand.
The Value of Bitcoin is on the Rise
When the COVID-19 lockdown was imposed on countries around the globe, the number of people showing interest in BTC has increased to 100%. This gives a clear indication of how much this cryptocurrency is loved.
In 2020, BTC has managed to jog through the memory of many investors and reminded them of the role played by gold back in the 1970s. Moreover, due to the crash of other financial markets, people have started trusting bitcoin as a safe haven.
Although bitcoin’s price is highly volatile, its value has been growing over the last ten years. So it is very clear that it will give you a high return on investment in the future as the value is increasing.
Learning about Bitcoin investment is easy and free
In today’s world, most of the people have access to the internet and that’s what is required to learn how to invest in cryptocurrency. And this process takes a shorter period to learn the concept of investment. Generally one has to spend a lot of time and resources to learn investing in other financial markets, hence making it more expensive than learning Bitcoin investment.
Using reputable bitcoin platforms, experts, and cryptocurrency trading & investment books, it takes a few days for one to learn how to invest in BTC and make profits out of this investment.
However, there are many bitcoin exchanges in India like PCEX Member which teach their clients about the cryptocurrency and its basics.
Governments embrace the use of Bitcoin
While many governments are still trying to develop their own central bank digital cash (CBDC) to end the hegemony of BTC, others have come up publicly to recognize Bitcoin inheritance as legal. The government supports the concept behind bitcoin, but it wants to make the legal rules strict about making it more secure and safe for the citizens.
No taxes and low transaction fees
Finally, the biggest advantage of investing in BTC is that investors don’t have to pay any tax(*1). All the transactions made by the Bitcoins are free (except on exchanges as they charge maker and taker fee). Also while making bitcoin transactions, the fees that are charged on the transactions process are comparatively lower than fiat currencies. In the same way, one can save a good amount of money from lesser fees.
WHERE CAN WE BUY BTC IN INDIA?
There are many Bitcoin exchanges in India. However, when talking about the best, PCEX Member, WazirX, CoinDCX are the few. These exchanges take the center stage Indian crypto market. With more than 10 cryptocurrencies available as an option to trade, these platforms provide huge liquidity on the digital assets.
However, there is a huge possibility that the prices of coins shown on webpages of these platforms may differ from the final ones. This is because there are various AMC, maker, and taker charges on transactions. In such a case, PCEX Member is proved to be a better option as it has no extra charges on the transactions (depositing and withdrawal).
Moreover, PCEX Member accepts payments through all wallets, credit & debit cards. You can also convert fiat money to digital currency or vice-versa all in one place. The user-friendly interface of the exchange provides a super fast and convenient platform to exchange your digital assets.
PCEX Member also consists of an added layer of security which ensures credibility for the end-user. The platform is soon going to launch its futures trading, that one means one can go for futures trading too!
Editor Note (*1): Cryptocurrency tax regulations may vary from country to country, some countries have taxes for cryptocurrency gains.