Cryptocurrencies are rising in popularity across the world, and India is not untouched from this burgeoning phenomenon. The prices of some of the cryptos, such as Bitcoin, are soaring and a favourite among investors. There is a tremendous potential for future development, particularly after the most recent market corrections and therefore, a product worth holding in your portfolio. If you're still not sure why you should be buying Bitcoins in India, then here are some convincing reasons to get started:
Massive returns
Since its introduction in 2009, Bitcoin has steadily reported high returns, attracting consumers to embrace it. Compared to all other Bitcoin cryptos, the results have been higher, particularly in the last 5 or 6 years. Not only in terms of digital currencies, but the payments made by Bitcoin are also better than any stock, currency, resource or derivative. No wonder, it makes much more sense to invest in it than in any other asset.
Price Correction
The Bitcoin price had hit its all-time peak in 2017, and there was a price correction after that. Later in the year 2019, BTC went a bit bearish and hit its lowest point at USD 3,200. Again, it recovered fast in 2020. INR to BTC currently in India is 0.0000006 Bitcoin and is enough justification for investing in it in India.
Better Long-term Investment
Experts predict that the upcoming year is going to be even better for Bitcoin in terms of the price increase. This view could well be true in the light of recent developments in trading volumes seen in exchanges. With a supply of 18 million coins on the market and a halving anticipated soon, the BTC price is likely to jump. The next mining is anticipated to take place two decades later, so even if you don't exchange it now, you can offer it at a later date and make more money. This can serve as a long-term investment or a viable retirement option.
Best amongst the Cryptocurrencies
Bitcoin is working to become more resilient. The network that operates under this type of currency is becoming smarter, efficient and more stable. As the popularity of Bitcoin is growing high, a lot of wallet services, apps, etc. are being developed around it, making it favourite amongst traders.
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