Diwali 2021: 5 reasons to Invest in Bitcoin instead of Gold
Diwali 2021 is here and if you are looking forward to investing in gold, think again.
Diwali is the most celebrated festival in India and is considered to be one of the auspicious festivals in the Indian calendar. While people consider buying gold, silver, diamonds in the season, the two of Bollywood’s superstars are pitching another option during India’s annual gold shopping spree: cryptocurrencies.
Bitcoin was the first cryptocurrency that took the world by storm ever since its launch in 2009, and this month Bitcoin rallied to a record, topping $66,000 for the first time in history.
A study conducted by the portal Broker Chooses Analyze shows that over 10cr people own a cryptocurrency which is the highest in the world. And this number seems to be rising continuously. The rising interest in the NFT and cryptocurrencies is revolutionizing the traditional investments in India and becoming one of the best Diwali 2021 investments.
If you are ready to ride this cryptocurrency craze and still don’t know how to hop in, here’s a list of quick reasons why you should invest in Bitcoin.
Ownership: The decentralized nature of bitcoin trading gives you control to own and store your assets without a third party involvement. The value of the assets are not determined by the central parties giving traders liberty to avail maximum profits from the current exchange rates.
Limited assets: Bitcoins and other cryptocurrencies have a limited supply. This makes them deflationary assets.
Transparent and Secured: Cryptocurrencies are popular due to their evident nature and open-source and publicly-verifiable technology. The blast of cryptocurrency exchange is offering a safe and secure platform for trading in cryptocurrencies.
Long term investment: Despite the volatility and risky fluctuations that characterize the crypto market, crypto investments are seen to be highly beneficial in the long run. For example, they can act as a good source of savings in your retirement plans or give you some much needed financial independence during a sudden economic crisis.
Independent trading: It’s not like stock market trading where the market functions for certain hours in a day. The easy and whole day accessibility of crypto trading makes it highly flexible for traders to organize their trading during a certain part of the day. If bitcoin is a costly affair you can look at the altcoins like Ethereum, Dogecoin, Ripple, which increase the potential of gaining wealth and help traders diversify their portfolios.
Seems interesting right?
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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.