With the evolution of technology, comes the evolution of finance and investing. The hottest thing on the market right now is without a doubt, cryptocurrencies.
The last few years saw a huge shift in the way governments, banks, business and even the general population view cryptocurrencies. Over the course of history, the most reliable form of money has always been gold. Precious metals have never been a bad investment and has been the safe haven for many investors and governments during times of crisis.
History has proven that Gold is the safest asset to hold
Many modern crypto investors view gold as a relic from the past. On the other side we have the gold investors, many of whom missed the huge crypto wave. Many of them believe cryptocurrencies make no sense and they have no backing in the case of a collapse. The truth is always somewhere in the middle.
Cryptocurrencies are an innovation which threatens the power structure of the powers that be. A very real alternative to fiat. Precious metals offer pretty much the same securities. A few years ago many investors were wondering if cryptocurrencies will eventually start taking away from the actual gold market or gold stocks.Gold is a $7 trillion or even more market and Bitcoin is around $113 billion at the moment.
Good investors know for a fact that money doesn’t easily leave the Gold sector, that’s why it’s such a safe haven to begin with. While some investors definitely saw cryptocurrencies as the new popular kid on the block, the absolute majority still keep their money in gold.
There is a very positive side for gold investors. There is a whole new generation of people, who’ve made money on cryptocurrencies. Many of them believed in the narrative of fiat currency. Others simply saw a new technology or something to get in to. This has educated them with the problems and fallacies of fiat currencies. This is already creating huge media attention and a huge number of people are learning why cryptocurrencies are taking off so much and why so many investors like it.
Ultimately this will come back and will benefit all precious metals. Educating a whole new class of people opens the arena to the amount of investors that could potentially come into the gold space.
Cryptocurrencies can make you rich, but Gold will keep you safe
You know that if you have some gold stored somewhere, you’re pretty safe. You’ll easily survive problems like inflation, hyperinflation, bank closures and collapses. That’s always the biggest benefit of precious metals: Safety. Cryptocurrencies on the other hand are still a relatively new phenomenon.
They are in no way as secure as precious metals and no smart investor will never keep a hundred percent of his assets in cryptocurrencies. They will change dramatically over the next few weeks, months and most definitely over the next few years.
The greatest profits are always made in the places everyone will tell you, you are crazy for investing. Cryptocurrencies were called a Ponzi scheme and a scam but today all countries and corporations are aware of the potential of blockchain technology and cryptocurrencies.
There is a lot to consider when talking about the future of precious metals and cryptocurrency in general. It’s certain that with the advancement of technology cryptocurrencies will see incredible gains in their values in the future. There will always be unexpected problems so gold and silver will still be the safest physical assets to own.
You can also check out:
- Twitter Scambots. A Thread to the Crypto Community and Social Media
- The Biggest Scam which Affects Cryptocurrencies and Progress
- Why are ICO’s a Target for Hackers?
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Tags:BankBankingCryptocurrencyGoldgold investorsInvestingInvestmentinvestorponzi schemeprecious metalssafetyScam