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cryptocurrency vs gold  which is the better investment

Cryptocurrency VS Gold-Which is the Better Investment?

cryptocurrency vs gold-which is the better investment

Feb 24,2022

24 Karat Gold

Cryptocurrency Vs Gold-Which is the Better Investment?

Ever since the Covid-19 pandemic erupted, people have come to realize the uncertainty of times they live in, and also the importance of investments and savings. Investments are increasingly seen as a good means to protect oneself financially during tough times. People have been looking for safe-haven investments that would leave their lifestyle uncompromised. The top two of such safe-haven investments have been gold and cryptocurrency. However, despite good returns on both kinds of investments, the question loops-which one is a better investment option in the current context?

Everyone is familiar with gold as an asset and secure option for investment purposes without incurring any losses in the future. It is a time-tested method to avoid the volatility of stocks but gain just as much in terms of finances. But a new method has come up in recent times, in the form of cryptocurrency like Bitcoin and so on. Gold and cryptocurrency are the only assets nowadays that are independent from the influence or control of the government. Before we go on to see which one of the two should be preferred for investment purposes-either gold or cryptocurrency to be considered better-a let us understand what is cryptocurrency and how it works.

Also Read :- Solve Your Money Problems With Your Discarded Gold

What Is Cryptocurrency?

It is basically a digital asset or decentralized digital money which has been developed through Blockchain technology. There are about five thousand types of cryptocurrencies but the most popular ones are Bitcoin and Ethereum.

Unlike the regular currencies like the Dollar or the Euro, the value of the cryptocurrency is maintained and managed by the Internet users. It is distributed digitally as well. Very much like the regular currency, it can be used to by any good and services.

What are the Benefits of Cryptocurrency as an Investment?

1.It was during the recent pandemic that with the shutdown of the world economies, investors began to observe that the value of Bitcoin had not decreased when the values of stocks and other assets was going down very quickly. Since then, the value of Bitcoin has soared with more and thus maximum number of investors taking notice of it and pouring funds in it. In fact, the current price of Bitcoin is a whopping $61,000.

2.Cryptocurrency is rare with estimates that by 2140, all cryptocurrency would be mined and no new one will be available ever again

3. Cryptocurrency has long durability, that is, as long as the Internet is there for uses, cryptocurrency can stay in use

4. It is possible to divide cryptocurrency in to satoshis. For instance, a 100,000,000 satoshis make one Bitcoin.

5.There is absolutely no way that cryptocurrency can be duplicated or counterfeited.

Also Read:- Valuable Tips Regarding What to Look for When Selling Gold Jewelry in India

What are the Benefits of Gold as an Investment?

1.Gold and cryptocurrency have many similarities. For instance, gold is also rare. It is not available in abundance and despite its huge demand, the supply is low.

2. Gold is the most effective of all the diversifiers.

3.Regular currencies often fall in value against gold. Gold ensures that wealth can remain intact throughout the generations.

4.Gold stocks show a strong dividend performance; nearly twice as well than other dividend stocks

5.There are many ways of owning gold. Some of which include gold futures, gold companies, gold coins, gold jewellery, gold bullion, gold mutual funds, and gold ETFs, amongst others.

Comparing Gold and Cryptocurrency

1.Gold and cryptocurrency have a lot of features in common amongst themselves. There are both advantages and disadvantages to owning any one of them

2.In terms of rarity and liquidity, both fair well.

3. Moreover, gold can be more accessible to people, despite their economic and technological standpoint. Whereas, to own cryptocurrency one would need to own certain devices, like a mobile phone or a laptop along with an Internet connection.

4.It has been shown that gold is less volatile than cryptocurrency but work is in progress to make sure that cryptocurrency become less volatile with time.

5.It is estimated that the market cap of Bitcoin is to go over the market cap of gold.

6.In terms of transparency and safety, gold is always said to be better than cryptocurrency but there has been a 100x improvement of Bitcoin over gold. But despite its multi-fold growth, cryptocurrency is estimated to continue appreciating, in the coming years, in the US dollars only

Therefore, to determine which one-gold or cryptocurrency-is better investment, one will have to consider a lot of factors. The factors range from the market, economy to individual financial capabilities. It is important that one should take a well-informed decision, most preferably after consulting a professional, before choosing to make the investments. All investments have a risk involved. However, if you are looking to sell your gold, then you have come to the right place approaching us!

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Also Read- Make Extra Cash For The Holidays For Selling Gold And Silver.

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