Investing in Bitcoin — Reasons to Invest in Bitcoin in India 2021

What is the best cryptocurrency to invest in India? Today, if you ask this question to even a school kid, Bitcoin (BTC) is most likely to be their answer!In fact, 2021 has been the year, when Indians are most informed about the benefits of investing in cryptocurrency. Concurrently, it’s the year, when bitcoin has reached its record height.Strong PositioningBitcoin’s dominance is noticeable across all crypto trading exchanges and the world has seen its record high in recent times. Bitcoin holds 63.80% of the cryptocurrency market share. Its circulating supply equals 18,623,718 BTC and market capitalization $860,300,336,419. The graph plots the adoption or trading worth of bitcoin, Ethereum and other popular cryptocurrencies.SourceIts strong positioning can be further understood by the fact that despite the post-COVID economic shutdown, it maintained the growth momentum.Unparalleled GrowthGiven below is the year-on-year price of bitcoin, gold, and stock (S&P) for the last 10 years. Gold and stock are no match for the growth of bitcoin. The price of bitcoin gives even the real estate sector a run for its money.SourceDeclining Bank Interest RateWhile bank interest rates do not stand any close to bitcoin, gold or stock prices, it deserves the mention because the decline in the banking interest rate is pushing conservative people also to invest in cryptocurrency. Banks have dropped their interest rates on all deposit instruments from FD to savings. The chart below displays the latest interest rates offered by top banks for tenures ranging from 7 days to 10 years as of February 2021. In India, bitcoin has gained the attention of not just Generation X, Y and Z but also of older generations.SourceIncreased SecurityLeading exchanges like PCEX Member are not just backed by strong liquidity, but also provide a military-grade secure trading exchange for their customers. PCEX Member applies a 5-layer security…