Comparison of investments in gold and cryptocurrencies
When choosing where to invest, a modern person is facing a difficult choice: on the one hand, there are classic investment options (gold, securities, real estate), and on the other hand, there is cryptocurrency which popularity is growing in the whole world.
At Golden Way, we, like no one else, know the specifics of the gold market. Therefore, we have prepared a comparison of cryptocurrency and gold.
Cryptocurrency rates are often volatile: the crypto market is experiencing ups and downs, and the price of a coin of the Bitcoin can reach both a record high and an incredible drawdown within a day. Over the past month, the price of Bitcoin has fallen by almost a third.
Gold in this regard is much more stable: there have been no sharp fluctuations in the exchange rate for decades. Moreover, in a crisis, gold prices only increase. "When times really get uncertain and anxiety is running high, gold is still the safe-haven asset to go to," said Jim Wyckoff, senior analyst at Kitco Metals.
You can pay with cryptocurrency on many online resources, exchange it for other currencies, but if you turn off the Internet, all your savings remain in virtuality. But when you go outside, there's a real world.
Gold is a tangible asset. You can keep it with you, put it in a security box or a bank safe. It can be easily sold at any bank, jewelry store or even in a virtual exchanger, and receive cash into your bank account.
Will the cryptocurrency become cheaper, will its emission increase, will it completely replace the state currency? No one knows.
But one thing is clear: gold will remain valuable for a very long time, because in addition to its economic value, it is also in great demand for industrial purposes. This gives gold owners a lot of possibilities.
If you want to invest in a real, convertible and at the same time always valuable asset, then gold shall be your choice.