Improving your finances is not just about making more from your day job. How you invest and where you put your money can be a significant determiner in your overall wealth. Property and gold have been longstanding investment opportunities that can be tricky but usually turn out for the better.
The introduction of cryptocurrency has developed somewhat of a race for your investment. If you have been weighing up investing in gold or Bitcoin, we have the guide that you need to read here.
Bitcoin is Cheaper and Easier to Protect
When it comes down to owning Bitcoin or Gold, both have potential issues. Cyberattacks are growing and there may be hackers trying to steal your Bitcoin. This can be countered by only using the most reputable wallets in the business, with a proven track record. The perfect example being the bitcoin wallet by Luno, a company that has been around since 2013 and has customers in more than 40 countries.
Gold also needs to be secured to protect your investment. When owning gold, you need to have it secured in a safe or a vault, to protect from the old-fashioned type of theft; or in case of disasters that make it difficult to locate your gold.
The bottom line on this topic is that to invest in either you need to be prepared to protect it with either the best tech products or a secure vault or safe. You could argue that it’s cheaper to protect any investment with a secure wallet than it is to buy a high-quality safe for your gold.
Gold is More Stable
It must be said that Bitcoin today, even at its lowest figures after a volatile stretch, is worth more than an ounce of gold. That may drive a lot of investors to choose Bitcoin over gold, but there is a little more to consider for others.
Whereas Bitcoin’s value can be anyone’s guess over any 24-hour period, gold is much more stable and unlikely to change. Throughout time there will always have things guaranteed to happen such as the sun rising, the sun setting and gold always being valuable.
So, it’s certainly possible that cryptocurrency will fail (although unlikely at this stage) and gold will remain valuable for eternity.
Bitcoin is Still Growing
Despite the turbulence in the Bitcoin market and the difference in valuation from month to month, there is one thing that cannot be contended; and that is the quick rise of Bitcoin’s value. Whether your Bitcoin is valued at $10,000 or hits the highs of December 2017 and makes it to almost $20,000 your investment is pretty impressive considering it was priced at a single dollar in 2011.
Crystal Clear Decision?
Your decision is not like to be crystal clear. The decision to invest in either of these is a choice not to be taken lightly. An alternative to choosing is to not choose at all and diversify your investment portfolio between gold and Bitcoin – just remember a sturdy safe and a secure wallet to keep them in!