Bitcoin Vs Gold. Is There a Winner?
With the recent popularity of digital currencies (also known as cryptocurrencies) many new investors are looking to better understand how they can make the most of their money today for their retirement future, down the road.
Will Bitcoin’s popularity propel it to be the greatest investment opportunity since the discovery of gold? Or will the tried-and-true precious metal ‘gold’ continue to be a safe and sound investment choice?
Royal Bull will take a deep dive into the benefits and challenges of each to determine who will likely win out in the long run.
Why is Cryptocurrency a Great Investment Opportunity?
Managed by no central organization and fully digital, cryptocurrencies like Bitcoin and Dogecoin are tradeable assets that only exist in the digital world. Although the first digital currency dates back to 1983, the true power of cryptocurrencies wasn’t realized until the creation of Bitcoin in 2009 – a totally decentralized currency. The past few years have seen an explosion of popularity among investors.
Bitcoin Can Have a Large Profit Potential
Back in 2010, which really isn’t that long ago, a Canadian could buy Bitcoin for around $0.09. As of this article’s writing in 2022, each of those Bitcoins is now worth $46,202.79 CDN. That is a massive gain the likes of which are very rarely ever seen for any investment opportunity. Being a part of this movement is not only an incredible bit of luck but also gives investors life-changing returns.
Is the meteoric rise in the price of Bitcoin complete or will it continue its rise? If not, will this ever happen again? Nothing is certain.
Bitcoin Investing Has No Government Oversight
You can sit at your desk and change Bitcoin ownership details in a few minutes with no need for banks’ involvement. You don’t need to spend money on shipping, security and accounting; there are very few restrictions. Really, all you need is Internet access and a bit of time if you wish to buy and sell.
Investing in Bitcoin Can Be Fun
It seems like every day someone new is starting a digital currency with a new and catchy name to appeal to today’s investors. Brands like CannabisCoin, PutinCoin and even the delightfully honest Useless Ethereum Token (may it rest in peace) help to connect our senses of humour and desire for entertainment with investment opportunities.
Cryptocurrency Fits Nicely Into Our Digital Lives
Investors are younger and are more familiar with computers than ever before. They have online friends, online games, online employment and even online significant others. Having an investment that exists purely online makes sense to them and the concept of a digital currency is easy to relate with.
Why is Gold a Great Investment Opportunity?
Gold is the grandfather of investing, especially when compared to the newcomers like Bitcoin. Some see it as an ‘old’ way to invest and although it has a history spanning tens of thousands of years, gold is still a great investment opportunity. Let’s discover why…
Gold Has a Long History of Investability
If you have to name a safe investment, most people will say gold. Although the precious metal’s price certainly does not always go up, many recent periods show that the price of gold has outperformed stock markets and other investment opportunities.
Gold is Safe
The world’s favourite precious metal has been used as a hedge against economic disaster and is a vital resource that is always in demand. Its value lies partly in this, as well as many other benefits, depending on the investor or collector.
Governed by Central Organizations
Banks, governments and organizations like the World Gold Council help to ensure that there are worldwide standards for the precious metal, promote its use and help to limit its volatility.
Gold is Not So Risky
As an integral part of not only our financial world, but also manufacturing, jewellery and even dentistry, gold’s value does not just stand in a corner on its own – it’s tied to many crucial aspects of everyday life. These connections help to control the volatility of gold.
Gold is Tangible
Your physical gold investment can’t simply be taken away by an unscrupulous hacker. It is in your possession forever and therefore in your control. Whether you store it at home, in a bank vault or sitting on your bookshelf, your gold can be brought wherever you see fit.
Gold Can Be Fun
Buying a bar of gold with a logo on it might not be everyone’s forte, but with thousands of designs available on gold coins and bars, there is a special and very fun way to find a gold investment you’re interested in and play a key role in your investment portfolio that you can be proud of.
Let’s Decide. Which is the Better Investment: Gold or Bitcoin?
Cryptocurrencies like Bitcoin can have large profit potential, can be a fun way to spend money online and fit well into digital online experiences, as many cryptocurrency investors have already found out is that meteoric rises can also have sudden falls.
The potential for Bitcoin to truly affect the world is there, but without a long history of investment success, with only risky ups and downs and intangible assets, it’s impossible at this point to place confident long-term investment dollars into Bitcoin.
Investing in gold has many of the benefits of Bitcoin with more worldwide demand, oversight, safety and fun than you ever thought possible. Check out Royal Bull’s gold shop page to see what is currently available.