One of the most precious life lessons the ongoing coronavirus pandemic has taught us is that we all need to start thinking about our future. This is the right time for all of us to set aside a chunk of our income into investments like gold, silver, platinum, palladium, rare coins, and even bitcoin so that we can have a secure financial future. If you are a new investor who thinks which one is better, gold or bitcoin, read on. Here are a few reasons why gold is a better investment than Bitcoin.
One of the key reasons people prefer gold over bitcoin and many other forms of investments is that gold is less volatile. The prices of cryptocurrencies can change quickly. They can even raise or fall sharply based on a tweet by Elon Musk, as we have seen many times. So, if you are looking for a less volatile investment, gold is a good choice.
Anyone who has ever invested in gold will tell you that gold is less risky than many other forms of investment. As we mentioned before, the prices of Bitcoin rise and fall sharply, and hence, your investment can give you no returns at all if they fall sharply. On the other hand, the demand for gold is always there, and the price fluctuations are not as wide as Bitcoin’s. So, gold is a safer investment option.
You Can Touch/Hold Gold
Many people prefer investments that they can see, touch, and feel. If you are among those investors, you can trust gold as you can touch or hold this asset. You can buy a bit of gold and keep it in the locker if you always want the investment to be around you. It will also allow you to sell it at a moment’s notice if you run into financial trouble and need cash instantly. The same cannot apply to Bitcoin.
When seeking an investment that you can keep for years or even decades and leave for your kids and grandkids, you will do better with gold. This precious metal has been in demand for centuries and will be so in the future as well. The same cannot be said of Bitcoin as it’s a newer form of investment and might have an uncertain future given its environmental costs.
These are just a few reasons gold is a better investment than bitcoin. Feel free to research on your own before you invest.
Also, when you want to invest in gold, visit The New York Gold Company. We have been in the business for over three decades and can provide you with multiple gold bars and gold coin choices. In addition to gold, we also let you invest in silver, platinum, palladium, and even rare coins. The process of investing is easy, and our executives are always there to answer all your questions. You can also buy from our website directly (100% security assured), visit our store, or even place an order via the phone. Connect now and see how easy we make it for you.