With the fact that cryptos are now completely legal in India, we can see that the local financial sector has received a much-needed element, which represents, let’s say, a little bit of fresh air. According to the various sources, and official statistics as well, we can see that there are startups interested in investing in these in India. But it should be said that this is a concept that not all people understand.
In fact, if we were to say, a vast majority of people don’t understand it completely. That doesn’t mean this is not a good idea. It goes without saying that some time would be needed before people get used to it. Of course, the public blockchain systems need to be established in the company. After this is done, and only then, we can talk about cryptos going mainstream.
At the same time, we can see that there are many different crypto communities established by users. These communities have the task of providing the necessary guidance to the people who need it. They became crucial parts of this world since we can see that a vast majority doesn’t understand the concept as a whole. Furthermore, there are a lot of different apps you can use to make your crypto management much easier than it needs to be.
If you are interested in checking some of them out, be sure to take a look at www.iol.co.za. At the same time, we can see that there still are many people in the world who didn’t decide yet if they want to invest in cryptocurrencies. Therefore, we’ve decided to provide you, our readers, with an article where we will point out a couple of reasons why you should buy and invest in cryptocurrencies in India. Without further ado, let’s talk about these.
Table of Contents
1. Complete Independence
We can see that the world of finances is pretty complex. But the thing that everybody agrees upon is that there isn’t any completely independent method of owning your money besides cryptocurrencies. Without a doubt, the level of independence you will have with these is unprecedented. When you compare it to the banks, which hold your money in their mercy, you can see why so many people have chosen to completely shift to this approach.
At the same time, we can see that banks require your personal information in order to complete some of the basic things. With cryptos, there isn’t anything like that. Last but not least, the bank can limit you to your money, or the government had a say that can prevent you from taking your money off the account. With cryptos, there isn’t a chance of you not being able to control your money for some reason. In fact, you have access to it whenever you want and need it.
2. Immunity from Outside Influences
If you know even the basics of cryptos, you know that they are immune to foreign influences. This means that they are a market of their own. For example, we can see that BTC dropped heavily back in March 2023, when the coronavirus pandemic crisis started. But the pandemic is still going on, but the worth of BTC has managed to surge to the heights it was before the whole mess that occurred half a year ago. We admit that we were a little bit uncertain about the whole concept when this happened.
However, we can see that the whole concept has resurfaced once again and established itself as independent from outside influences. So, it doesn’t matter if some industry collapses, chances are that it will not have any kind of influence over the cryptocurrencies and their market. Furthermore, we can see that cryptocurrencies can serve as a perfect alternative in a situation when the particular industry collapses and a person doesn’t have anywhere else to go.
3. Transactions are Safe from Thefts
We are pretty sure that you are aware that scams and thefts are pretty common in today’s financial world. Naturally, there are a lot of different ways people can get scammed. Not only that, the whole system becomes more and more prone to these occurrences, due to the fact that hacks and leaks become much more complex over time. Some experts say that the financial systems are like a house of cards that can be blown away pretty easily.
With the introduction of cryptocurrencies and their blockchain system, we can see that there are chances that you can prevent this from happening. Many people are not aware of the fact that the blockchain system is impossible to crack. There isn’t any chance of it being cracked by foreign attackers. Therefore, it provides a whole another layer of protection that can protect your money from anyone who is interested in hacking and scamming you out of your money.
4. Fast Transactions
When you make a transaction through the traditional channels, you cannot expect that they are going to be completed pretty fast. In fact, some of them can take up to a couple of days before you send or receive money. With cryptos, the amount of time you will need to wait for before you send or receive your money is up to 2 hours. Most of the time, it happens immediately, but it can happen that it takes up to this time. The reason is that there aren’t any third-party that needs to take care of the money.
In fact, there are only two parties, the one who sends the money and the one who receives it. So, you will not have to wait for some time before it’s processed. This can be even more helpful in situations when you are buying something. You will be able to receive it much sooner than you’ve hoped for. Due to the trend of many stores digitalizing themselves in India, we can see that cryptos can represent a perfect method of payment that can provide you with numerous benefits you can reap.
Looks like investing in cryptocurrencies represents a great chance for many people in India. Therefore, they should make this chance count and invest in it.