Cryptocurrency is quickly becoming a popular investment option for many individuals. Its decentralized nature allows users to manage their funds without the need for banks or government interference. However, the volatile nature of the market can be daunting for newcomers, making it difficult to learn how to purchase Bitcoin.
Interac e-Transfers offer a convenient way for individuals to purchase Bitcoin quickly and securely. In just a few minutes, users can complete their transaction and have their funds transferred electronically. Here, we explore some of the advantages of Interac e-Transfers for cryptocurrency investing.
1. Fast and Efficient:
The process of purchasing Bitcoin with an Interac e-Transfer is incredibly efficient. It generally takes around 30 minutes, and all that is needed is the user’s bank details and their Bitcoin address. Once the payment has been made, confirmation of the purchase is received almost instantly.
2. Safe:
The Interac e-Transfer process is highly secure, as the user’s bank information is never shared with anyone. Individuals can ensure their money is safe by choosing a trusted seller from a list and then transferring their funds electronically. This way, their money will not leave the bank account until it is transferred to the seller’s, so no one can access it.
3. Convenient:
Buying Bitcoin online is incredibly convenient, as users can do it from anywhere in the world in just a few minutes. It is also possible to purchase Bitcoin in person from Bitcoin ATMs across Canada, although it is important to ensure the machine is licensed before using it. This is to protect users against any potential scams.
Why invest in cryptocurrency? There are many reasons why people choose to invest in cryptocurrency. These include:
1. High yields: Cryptocurrency assets are known for offering higher returns than traditional assets like stocks, bonds and real estate. In a single year, yields can reach up to 200%.
2. Lower volatility: Cryptocurrency assets are more stable than traditional ones like stocks, bonds and real estate. Geopolitical factors have less of an effect on the value of these assets.
3. Accessibility: Anyone with an internet connection can access cryptocurrencies, whereas other asset classes are often only available to accredited investors.
4. Tax benefits: Unlike traditional assets like stocks and bonds, cryptocurrencies are not subject to capital gains taxes when they are sold for profit.
5. Liquidity: Cryptocurrencies are extremely liquid as they can be easily converted to fiat currencies at any time via exchanges.
6. Security: Digital wallets are safe and secure, as they are highly encrypted and cannot be stolen or hacked.
Conclusion:
Cryptocurrency is a great asset for diversifying portfolios and taking advantage of the profits this new type of asset can offer. Although investing in cryptocurrency can be lucrative, it is important to remember that it is still an emerging market and an investment strategy should be created with this in mind.
