Cryptocurrency or Crypto-currency is a digital form of currency used as a medium of exchange internationally using cryptographic functions. In simple layman terms, its digital form of money, and can be easily converted into any form of currency such as Rupees, Dollars, Pounds, and all other forms of currency in the world. It has no physical presence and can only be traded online. All titles and transfer records are stored digitally in computerized ledgers and databases.
Now that you understand what cryptocurrency is, the next question that may come in your mind is where and how to trade it. You can trade crypto in India at a range of forex exchanges and platforms that are growing day by day. If you take some time and research the different types of cryptocurrency available in India, you will find multiple options to choose from, such as Bitcoin, Ripple, Ethereum, Litecoin, among others. You can decide which variant of cryptocurrency you want to trade according to your choice and preference.
You may ask why you should trade in cryptocurrency when you can trade in traditional modes of stocks. In this article, we are going to break down for you why switching to cryptocurrency is a smart decision.
Read: How To Make Money From Home During Lockdown?
Top Ten Reasons You Should Consider Trading Cryptocurrency
1. Flexible Market Hours
Unlike the traditional stock market variants that operate for a limited time, you can trade cryptocurrency 24 hours a day. This means you have more time to trade, giving you a higher chance of making a profit. You can also decide the best time of the day is most convenient for you to make the most return on your trade without hindering the rest of your day.
2. Volatile Nature
Cryptocurrency has a very volatile nature. It’s a little hard to predict which stock value may go up or down. But this also means you can make huge profits on the currency that you were not expecting. Stocks that you may be holding for a long time without much increase may overnight turn in huge profits for you.
3. Decentralized Market
Cryptocurrency has no centralized markets, unlike the traditional stock markets. This means the value of crypto is free from the impact of any economical events in the country or the world. So any recession, election time, or any other event around you doesn’t impact the value of your cryptocurrency.
Important: 5 Multi-Crore Indian Businesses Started Out of Small Shops and Tiny Workspaces
4. No Middleman Involved
When trading in cryptocurrency, there are no brokers or agents involved in the process. You have ultimate control and where and how much to trade without paying anyone any kind of extra fee or charge. You are the only person making a judgment on your stock and not a third party member.
5. No Need To Disclose Your Identity
While trading cryptocurrency, you don’t have to disclose your identity completely to the world. You can trade crypto anonymously, which a lot of people may prefer. With just as few important details needed, the verification process can be completed in a few minutes, and you can start trading cryptocurrency in no time.
6. No Limit on How Much To Invest
When it comes to trading cryptocurrency, there is no limit on what amount you should start with. You can start with as less as 50 or 100 rupees, which are not an option with other stock market options. With cryptocurrency, you don’t need a big capital to start with, just a small amount with your good instinct will do the job for you.
15 Manufacturing Business Ideas in India
7. Trade or Invest, Your Choice
With cryptocurrency, not only do you get the option to where and how much to trade but you also get to decide for how long you want to hold your cryptocurrency. You can keep the stock for long periods like years to get great returns or just trade your stock overnight and still make good money in return. So whether you are looking for a long term investment or a quick turnaround capital cryptocurrency is a great option.
8. More Technological Advancements To Come
As time passes on, we are seeing more and more improvements in the trading of cryptocurrency. Faster transactions, more secure end to end encryption and a lot of other developments are just a few to name. With constant improvements being made trading, cryptocurrency has become even more simple and easy to handle for everyone.
9. High Intrinsic Value in The Real World
Cryptocurrency has a very high intrinsic value in the real world irrespective of their investment value. It can also be a great asset to you if you are involved in the business of international trade. As they are not subject to interest, transaction fees, and exchange value, a lot of cross border transactions can be easily made using cryptocurrency.
WhatsApp is a Popular Tool For Small Startups Business?
10. High Liquidity
cryptocurrencies have high liquidity, which means that you can easily convert your cash into cryptocurrency and your cryptocurrency into cash very easily. When trading crypto, you just have to find a buyer for your stock at your agreed price, and you can complete your transaction with a few clicks, and your money will be transferred to your account in a matter of seconds.
So after reading all the advantages of trading cryptocurrency, we are sure that you will now agree on how easy and highly profitable trading cryptocurrency is. And also how you can easily try your hand at it without much external assistance. Just like any other form to stock, cryptocurrency is very volatile, and you will need to rely on your judgment and intuition to make a sound decision. But with cryptocurrency, there are better and higher chances of returns for you with minimal investments.
We are sure that after reading this article, you are convinced that trading in cryptocurrency is a smart decision. With just a little research to find the best cryptocurrency to suit you, and a little time you can get started on trading crypto. We truly hope that now you are ready to start trading in cryptocurrency.
