NFTs vs. Precious Metals: Which is Better?
NFTs have taken the world by storm in the past year or two. These non-fungible tokens used to be a status symbol that celebrities collected to flex their financial muscle. Nowadays, NFTs are one of the leading investment assets one can invest money into.
On the other hand, precious metals, like gold and silver, have retained their reputation as safe investment assets to protect your wealth over a long time.
Both of these options might seem very lucrative for new investors planning to put in their money to save up. Let’s take a look at which one’s better.
NFTs, just like cryptocurrency, are made using blockchain technology. However, unlike crypto, NFTs are unique and can not be used as a currency or traded at an equivalent value. This is because every NFT has special identification codes and metadata.
If you buy an NFT, you’ll be the sole owner of that original image or picture. Your NFT can gain value quickly, but the NFT market is highly volatile, meaning you can also lose money as quickly as you make it.
A recent example of this was of a celebrity, Logan Paul. He reportedly bought an NFT for $623,000 in 2021. That NFT is worth $10 now. If you want, you can read more about it here.
Precious metals might not be the most liquid form of investment, but they sure are one of the safest. Precious metal rates rarely fluctuate massively and retain their value over time. Here are some of the best precious metals to invest in:
Gold is one of the most common investment assets in history. It’s one of the investment assets people put money into when there’s economic uncertainty, rising inflation, and currency fluctuation. This is because gold is inversely related to the US dollar.
Silver has had a strong connection to gold prices for a long time. Whenever gold prices go up, silver prices go up as well. Sometimes, silver may even outperform gold for a short period. It’s another good option to use as a hedge against inflation.
Platinum is one of the rarest precious metals on Earth, as it’s only produced in a handful of countries. Platinum’s prices are affected by its supply and demand. Platinum has multiple applications these days. For example, it’s used for catalytic converters in cars, electronic appliances, dentistry equipment, machines, etc.
The demand for platinum is high due to the high demand for eco-friendly cars in modern times, making it a good investment asset for people looking to invest.
If you’re ready to risk your investment for a bigger profit, you can jump into NFTs. However, if you’d like to play it safe, precious metals should be your choice. If you need a reliable dealership to buy and invest in gold or any other precious metals, Orion Metal Exchange can help you.
We are a precious metal investment company accredited by BBB and have pure gold bullion bars and coins for investment. We also offer other precious metals, like silver, platinum, and palladium. Additionally, we can also turn your traditional IRA plans into precious metals IRA. Get in touch with our team to learn more about our services.