Gold vs Bitcoin: The Battle of the Currencies

gold v bitcoin

Over the past few years, Bitcoin has been rising in popularity. Many are calling it digital gold due to its value and scarcity. Since cryptocurrency is all internet-based, it’s easy for you to buy, sell, and trade it. A lot of companies are recognizing bitcoin as an actual form of currency as well.

The question is, is that a good enough reason to invest in it? Gold vs. bitcoin, should you go with the tried and true or head the digital route? What’s the better investment? We can help you weigh your options. Check out this guide to learn more about these two powerhouses.

Gold

The first contender is gold. It’s been around for centuries, and for good reason. Gold was a source of security during horrible economic times such as the Great Recession. It’s recognized by federal organizations and banks. Its high value is due to the fact that you can’t manufacture it. You have to mine it out of the earth, meaning that it’s in limited supply.

Despite its price, gold investing is accessible to the common man. You’ve most likely seen the commercials shouting at you that they’ll take your gold. If you have any jewelry sitting around your home, you can use it to get your investment portfolio going.

Bitcoin 

Bitcoin is a digital currency that’s only recently started taking the world by storm. It hasn’t pulled people through any economic crisis, but that doesn’t mean that you can’t invest in crypto.

Like gold, cryptocurrency is in limited supply. There are only about 21 million bitcoins floating around out there. That sounds like a lot, but with the high demand, it’s not.

Bitcoin isn’t an official currency of the federal banks, and its legality can be shaky at best in some states, but with the coin shortage, many people have been going the digital route. Companies have begun seeing it as an official form of currency.

person putting bitcoin in a piggy bank
Photo by Alesia Kozik on Pexels.com

The Final Verdict 

So, now let’s get down to business. We’ve talked about the merits of both forms of currency, but which one is the best at the end of the day. When weighing bitcoin vs. gold, you have to think about security.

Gold has been around a lot longer, so people trust it more than bitcoin. This makes it the safest choice.

Bitcoin takes a certain level of tech-savviness to invest in because it’s all digital. At the same time, with bitcoin ATMs popping up all over the place, you can buy and sell digital currency at the drop of a hat. The one you choose all boils down to your investment goals.

Gold Vs. Bitcoin: What Is the Better Investment? 

When it comes time to start up your investment portfolio, you have two important choices to make. Gold vs. bitcoin, which one should you dump your assets into.

They both have their own merits. You can go the safe route with gold, or take a few risks with bitcoin. It’s all up to you and your goals.

If you’re looking for more financial advice that will help you make the right investments, visit our blog for all the latest tips and tricks.

 

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