Gold vs Cryptocurrency where to invest?
Gold has been a prominent mode of investment for centuries in the middle ages it was even used as the fiat currency. Now, for few decades due to its scarcity it has been used as a source of investment and currently holds an investment of around 11.623 Trillion USD as of the date which is among the highest in the market.
The current investment scenario of the market is as under with top 10 investment which people are doing globally
As we can see in the above list, as of the date of 5 September 2021 in the top 10 sources of investment 7 are companies, 2 are metals and one is cryptocurrency i.e. Bitcoin.
Also Read: What to know before investing in cryptocurrency
If we talk about the total funds globally 81 Trillion dollars are in top fiat currencies with 27.72 Trillion USD in Chinese Yaun which stands on the top. Then 96.815 Trillion dollars are in shares of various companies where Apple is on the top as of date with 2.55 Trillion USD. In terms of metal 13.69 Trillion dollars is in Metals with Gold on top with 11.62 Trillion USD. ETFs also contain another 6.738 Trillion dollars and Cryptocurrency which we are talking about is currently a baby in the market with just 2.48 Trillion dollars and with just 0.93 Trillion USD in Bitcoin.
As we were talking about crypto vs gold so let us see how much is the growth in both of them over time for crypto we can take into consideration the top 2 tokens BTC (Bitcoin) & ETH (Ethereum).
Now, if we can see the profits over time comparison there is no scope of comparison with gold as cryptocurrency provided at least 10x+ more gains in each of the cases.
The place where cryptocurrency lags is more volatility as it goes up fast it again comes down at the same rate to rise to the next higher level. So, for a person who is interested in an investment for a long period and doesn’t want to take that amount out on an immediate basis, crypto can do wonders. (Applicable only for good tokens, as there are 11000+ coins/tokens and only good ones are for long term)
Further, top financial organizations are talking and considering cryptocurrency as a future fiat currency. So, if this happens then be prepared for a lot of gains in this market as currently total crypto is only around 2 Trillion Dollars and the total fiat market is around 81 Trillion Dollars.
Also Read: Top Blockchains Transfer Charges
Countries like El Salvador have even declared Bitcoin as legal tender in their country. So, time is very near when we’ll be able to buy and sell products in cryptocurrency.
But, as a lot of risks are involved so a person should definitely go through and have a lot of knowledge about cryptocurrency before investing in the same. Make sure to read an article we posted in the past to gain some knowledge about cryptocurrency, it might help you.
Originally published at https://thecwire.com on Sep 5, 2021.
