If you thought that the gold coins, bars, or jewellery in your wardrobe are less valuable than Bitcoin today. Then it is time to think again. While Bitcoin is providing interest as an asset for investors. According to many analysts and Brisbane Pawn Shop dealers, it does not mean it is more valuable than gold.
One significant rule for many investors is to back a part of their portfolio in gold. Why? The gold you have at home is an asset that holds the value of money paid out in cash. It has been for decades and centuries proven an effective way to hedge inflation.
While Bitcoin remains a very young asset, many cryptocurrency speculators feel the value can survive alterations and current recessions. The fact is that several investors have added cryptocurrency to their reserves.
But how do you compare Bitcoin and gold against each other? According to many pawnbrokers following the news on gold and cryptocurrency, Bitcoin will not hold up well. This is because the currency made about 13 years ago compared to gold seen centuries ago is not as essential as the precious metal in today’s economy.
Furthermore, gold has played an important role when it comes to geopolitics. Still, many experts feel that the age of gold means nothing. While the cryptocurrency is new, it does not mean, according to experts, it is not secure.
According to analysts, the blockchain is not hackable and the asset created more wealth in the last 15 years than gold. Yet, with Brisbane Pawn Shops dealing in gold every day, from buying and selling gold jewellery to other valuable items, they do not agree.
The dealers state that the same thing can be said about gold. It is an asset that is difficult to fake or steals as it is highly regulated. The pawnshops feel that acquiring Bitcoin is much easier than investing in gold.
Yes, you can store your cryptocurrency online or on your hard drive for a minimal cost. For example, the average Bitcoin transaction can cost about $1.50 and is completed in ten minutes. Still, when it comes to investing in gold, you can buy it in jewellery, bars, or coins and needs a dedicated yet secure place to store.
But Bitcoin is very volatile like all your cryptocurrency. So while experts believe it is the best crypto investment, it is way more volatile than gold. Even mining Bitcoin is 3.5 times more expensive compared to digging up gold.
The same applies to the market prices. Bitcoin has dropped tremendously since the Russian and Ukraine war started, while gold has seen an all-time high at the beginning of August. Still, that is not all.
You can sell your Bitcoin on a particular platform if you need fast cash. Still, depending on your chosen cash out method, it can take up to five business days. Compare this to taking your gold jewellery to a pawnshop. It is much faster.
You hand your valuable items to the broker who assesses your gold according to the purity, weight, and gold spot market price. You receive an offer right there and then. You accept the offer and walk out the door with cash in hand.
With all the above proof, gold remains a safe haven compared to most cryptocurrency that remain volatile.