Many crypto veterans have been betting high on bitcoin and cryptocurrency for quite long, mainly because these types of currencies are virtual and decentralized in nature. Besides, these assets use cryptography for its security, making it almost impossible to make a counterfeit of it.  

With the fact that deadly virus has urged the world to be more reliant on the internet, the spike in interest of cryptocurrency is no surprise. In contrast to physical notes, investors are preferring Bitcoin or cryptocurrency to during the times of uncertainty. 

Cryptocurrency Is Entering Into Our Everyday Lives

Although cryptocurrencies have been here for a good number of years, most people are still skeptical about the whole idea of what it stands for. With the rate of adoption growth over the years, the majority of the global population still looks to crypto cautiously without a full idea of what it is. Interestingly, cryptocurrencies are one of the most interesting topics to learn about as you can sit in your home and take insights off the internet during this coronavirus pandemic. 

However, a vast number of the total population know about cryptocurrencies but adoption is a topic they would rather not talk about. Recent studies have shown that investing in cryptocurrencies can be one of the best things to do in terms of Investment in 2020. Even though with the presence of high risk, the return is usually high which might have covered the whole risk involved. With the movement of the global economy towards a digitally inclined future, cryptocurrencies are one asset that would bridge the gap. From investments to payments to exchange of services and so on. With cryptos already threatening to enter into our everyday life in the coming future, this post would take a quick look at 11 reasons why you should invest in cryptocurrencies in 2020.

Legitimate investment

Since the inception of cryptocurrencies, all transactions that have been confirmed are always stored in a public ledger. Identities of the owners of the wallets are always encrypted to enable a legitimate way of keeping records. Since the digital assets in the wallet are yours, no other person has access to it hence the decentralization. Even the government or bank do not have control over your transactions and your funds or the way you choose to manage them. Even with the biting implications of the coronavirus pandemic which has driven most people to run scams, crypto provides you with a way to fully secure your assets and not fall victim to frauds or scams.

Secure transactions

With the ledger present for ensuring transactions between two virtual wallets, a holder of the wallet can be able to calculate how much he has spent and his balance. With the usage of the new Blockchain technology that has received praise from major big investors in the help, it has rendered in this time, encryption of transaction is one thing that is present. With most countries planning to launch a virtual CBDC with the use of Blockchain, it is only a matter of time before it becomes something we use in our everyday life.

Vast accessibility

Statistics show that about two billion people use the internet but as we know the majority of them do not have access to the traditional exchange system. About half of that population will gladly accept cryptocurrency because it can be readily available and can be made use of provided you are connected to an internet service provider. Majority of the population who work in different countries and have their families in another country adopt crypto especially during the time of this pandemic. The majority of traditional banks were asked to stay at home to curb the spread but cryptocurrencies provided them with an escape route.

Vast profits

With crypto being around for an arguably short time as regards to other long term investments, one can boast of the number of profits generated from the crypto investment. Taking the US stocks into consideration, you can get just 20% which is the highest price but things might not be this way as regards the crash of most economies. Crypto has a relatively higher chance of doubling the US stock profits in a very short time with just minor risks involved. Even though most people rush into crypto with this aim, they lose eventually because of the lack of target and insight. According to the news in recent weeks, most of the palliatives checks received by Americans were put into Bitcoin to maximize profits.

Stock alternative

With the stock market often predicted to go into a plunge in the coming months of 2020, crypto offers a haven than most traditional investment schemes. With major analysts predicting that cryptos would suffer a crash in the back of the Bitcoin halving event that happened, we have been able to witness a surge. As a result of the biting effects of the coronavirus pandemic, most investments have suffered a crash with some still expected to crash massively but crypto is waxing strong as the day goes by. Just like every investment, they are good and bad times, but crypto promises more good times than the bad.

Independent investments

Crypto offers you a wide range of independent investments that is impossible with other modes of investments. Taking a look at the traditional banks, one can be at the receiving end of transactions and network problems with the bank. If a traditional bank is closed, then you can not have access to your funds which is eliminated in crypto investments which promise access to your funds anytime you want. With crypto you can choose what to do with your money but with a local bank, they would make use of your money and on the eventuality of a collapse, it will be hard to get your funds.

Liquidity rate

One of the most important characteristics of a business is the liquidity rate which is present in cryptocurrencies. You can choose to sell and buy digital assets anytime you so wish. You can maximize your profits if you buy low and decide you want the price of the asset to reach a certain high before you sell. With the new Blockchain-powered automated technology, you can just set your sale at a particular rate and buy at a particular rate. Most investors gained a lot after they bought when the March 12 sell took place when Bitcoin went as low as $3,500 but now goes for around $10,000.

Simplicity

When a person plans to get into a new financial investment, it is usually tiring, worrisome, and time-consuming. With the majority of them having a high entry limit which you cannot just enter with just any amount of money except you invest big. Crypto investments are one Investment where you can enter at any time and with any amount of money. You do not have to go through any stress of a financial institution of the signing of legal documents to go through with it. You just need to own a wallet and buy as many funds as you can.

Favorable forecast

You can easily get profits if you intend to trade in crypto provided you follow the easy steps that most analysts lay down from time to time. Even though getting profits daily is very slim, it may drive one to quit in the first instance. A long term investment is usually predicted when it comes to crypto trading as most forecasts show a reasonable amount of growth over a long time, usually five to six years. Just like Al investments carry a degree of risk, crypto has risks too but is overshadowed by profits in the long term.

Exchange security beefed up

With majorly most crypto outfits having a handful of problems when it first started as in the case of Mt. God that was hacked. The outfit was in charge of about 70% of all the Bitcoin in circulation and had about 6% of them ripped off in 2014. With the event that unfolded, many people thought crypto would eventually die a natural death but it was not to be so. New exchanges have eventually launched their decentralized exchange which has been security proof. Recently, there have been hacks that have happened as a result of the desperation of the biting effects of coronavirus pandemic but the exchanges have always compensated their victims.

Profits predicted

As soon as the halving event that recently happened was announced to becoming, a lot of analysts have their take on the impact of the event in the crypto sphere. While some said that Bitcoin would make a bearish run because it was the price-in already, others said it would make a surge if the previous pattern is followed. Days after the halving saw Bitcoin make a volatile movement in the market, recording small surge jumps and price corrections. Bitcoin has impacted other digital assets after the halving as it currently sits on over 10% profit since the halving with other assets recording small profits too.