Cryptocurrencies are growing in popularity across the globe and India is no exception. The prices of some of the cryptos like Bitcoin are soaring and are a favorite among investors. There is a huge potential for future growth especially after the latest market corrections and hence a product that is worth holding in your portfolio. If you are still not convinced why you should be investing in Bitcoins then here are some compelling reasons:
Since its launch in the year 2009, Bitcoin has always posted strong returns and that has encouraged customers to adopt it. Compared to all the other cryptos Bitcoin has given greater results, especially in the last 5 or 6 years. Not just in terms of digital currencies, the payouts that Bitcoin has given is better than any stock, currency, asset or derivative. It makes more sense to invest in this rather than any other product.
The Bitcoin price had reached its all-time high in the year 2017 and after that, there has been a price correction. Later in the year 2019 BTC was bearish and reached its lowest of $3200. Again it is recovering its value and is one of the main reasons one should buy Bitcoin now when the buying rate is low. The INR to BTC currently in India is 0000019 Bitcoin and is reason enough to purchase them in India.
Bitcoin Halving Will Increase Value
The supply of Bitcoin is limited and is only going to get fewer as the creation gets cuts into half. The circulation of digital currency is exactly the opposite of the way the FIAT currency works. In FIAT currency the banks keep creating money whereas in digital currencies it is reduced. For example, the Bitcoin is going to get halved in the mid of 2020 and the 18 million coins that are in circulation will be reduced. When that happens the price will rise at a rapid rate globally. If you are wondering if there will be an increase, well, the answer is yes. To leverage this situation, buy Bitcoin in India from reputed and trusted exchanges like Coinswitch. It offers low transaction and withdrawal fees and is safe and secure.
Is a better Long-term Investment
Experts opine that this year will be a good year for Bitcoin in terms of price rise. This opinion may well be true as per the recent trading volume trends seen in the exchanges. With a supply of 18 million coins in the market and its halving expected to happen soon, the BTC price is surely going to surge. The next mining is expected 2 decades later, and hence even if you don’t sell it now, you can sell it at a later date and earn more profits. That can act as a long-term investment or a retirement option.
Best among the Cryptocurrencies
Bitcoin is working on becoming more robust. The network that works underneath this form of currency is becoming more intelligent, reliable and secure. As the popularity of Bitcoin is soaring again, many wallet services, applications, etc are being built around it. That has made this digital currency more user-friendly and fast. So it is time to invest in Bitcoins to make the most of it. But do so by choosing the right exchange like Coinswitch as they are reliable.
If you want to invest in cryptos, Bitcoin must and should be part of your investment portfolio.