Precious Metals Vs. Cryptocurrency? Where Should You Invest Your Hard-Earned Money?
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If you’re an active investor, you know the struggle of getting better returns. The goal behind these investments is to protect your hard-earned money and increase it for a better future. But what’s the best place to invest in?
Precious metals are generally considered a long-term option, whereas cryptocurrency is emerging as the latest trend in the market, with a single bitcoin being worth as much as $10,908. So which one is better for investors in the long run?
Before making any investments, it’s better to do your research and learn how these investments work.
Latest Trends in Cryptocurrency:
Bitcoin was the first established cryptocurrency and was introduced in 2009. It has gained significant popularity over time and had reached a price of nearly $20,000 in 2017. But after a while, it dropped to $3000.
Although cryptocurrency has come a long way and has grown stronger over the past years, investors are also concerned about the volatility of this currency. There is a substantial risk of loss involved in their investment.
The value of cryptocurrency frequently fluctuates due to which its investors can lose more than they’ve invested. There is also a chance that the return varies from the amount expected. Therefore, those who aren’t fond of taking risks should avoid investing in this type of currency.
Investing In Precious Metals:
Precious metals are one of the top choices of investors and have been for centuries. Out of all these metals, gold is the leading financial asset. In 2019, gold investments offered a rate of return of 7.21%, according to the current statistics. Other popular metals include platinum and silver.
There are several options available to invest in precious metals. From buying coins to investing in IRAs, they offer the potential for growth and stability over time.
Precious metals carry no counterparty risk or act as a liability. Therefore, people who need to protect their wealth and aren’t looking for risky investment should opt for precious metals.
There’s no doubt that cryptocurrency has come a long way and is in a much better position than the past. However, it lacks stability. In comparison, precious metals such as gold and silver maintain their value and haven’t experienced any major setback in the past decades.