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NEW UPDATED EXTENDED VERSION HERE!! NEW NARRATION NEW EDITING NEW UPDATED MATERIAL FACTS UPDATED. Bitcoin's inception in 2009 paved the way for investment possibilities in an entirely new asset class dubbed cryptocurrency. Many individuals reached the room extremely early. They purchased crypto at bargain rates, attracted by the enormous potential of these fledglings yet promising properties. As a result, they became millionaires/billionaires during the 2017 bull run.
Even those who staked a small amount earned respectable income. Three years later, cryptocurrencies continue to be lucrative, indicating that the industry is not going anywhere. You may already be an investor/trader or you may be considering it. In any case, it makes sense to understand the advantages of cryptocurrency investment. According to a Deutsche Bank study titled Imagine 2030, credit and debit cards will become redundant.
Smartphones and other mobile devices will supplant them. Cryptocurrencies would no longer be considered outcasts but rather as viable alternatives to established monetary structures. Their advantages will be recognized, including security, speed, low transaction fees, ease of storage and relevance in the digital era. Concise regulatory guidance will help popularize and accelerate the acceptance of cryptocurrencies.
By 2030, the study predicts, there will be 200 million cryptocurrency wallet users and nearly 350 million by 2035. The #IndiaWantsCrypto campaign launched by WazirX has developed into a huge movement supporting cryptocurrency and blockchain adoption in India. Also, the recent Supreme Court decision reversing the RBI's 2018 crypto banking ban has sparked a new wave of optimism among Indian bitcoin and cryptocurrency investors.
Also, the 2020 Edelman Trust Barometer Report highlights growing public confidence in cryptocurrencies and blockchain technology. According to the results, 73% of Indians have faith in cryptocurrencies and blockchain technology.60% believe that cryptocurrency/blockchain would have a positive effect. By investing in cryptocurrencies, you will become a member of a vibrant and rapidly growing group. Diversification is a critical investment rule of thumb.
Particularly now, most assets have sustained significant losses due to economic difficulties exacerbated by the COVID-19 pandemic. Though bitcoin has returned 26 percent year to date, gold has returned 16 percent. Many other cryptocurrencies have achieved three-digit returns on investment.