Bitcoin or Goldcoin: what is a Better Choice?

Since the beginning of time, man has been looking for a safe haven asset that helps him secure his present and future and also gives him some benefit over time.

Gold bars and bitcoin

These assets change during times of market instability and volatility, such as in weather storms, natural disasters, or pandemics, such as the Covid 19 pandemic these days, to guard against large losses caused by the upheaval of market negativity or the large-scale correlation rather than losing value. others are falling like stocks or other businesses losing their values

There are many types of assets that play a role in a safe haven asset such as US dollars, government security checks, defensive stocks, gold, and cash until Bitcoin outperformed them all, but Gold Sill has held its value through tough times.

Gold as an asset

Gold is one of the safe-haven assets that is considered to be the most powerful safe-haven asset and there are several factors that work in this story, being a precious metal that has been used by mankind for centuries as jewelry and in electronic products because of its high conduction properties. Gold is mined from the ground for processing and gold cannot be manufactured like printed federal or national banknotes, so its supply always remains disproportionately low regardless of demand.

Gold almost did not correlate with assets such as stock indices such as S&P 500 or currencies such as dollars or British pounds or others, it was limited to US dollars until 1971 when the president of the United States linked to gold to the US dollar as a base, wen ever Stock the market needs a correction or decline in gold to help make a profit or soften the blow by at least 10%

Bitcoin as an asset

Since the last decades, Bitcoin made a place in the market as a useful investment, and now it will become one of the best reserve assets, in the last few years, Bitcoin had a spectacular run by increasing its value up to 200% which changed it into a credible currency and made it the strongest digital currency

Many countries have started doing business in Bitcoin and even started their own cryptocurrencies, people were very confused about investing in it, but after Paypal’s announcement that PayPal will support Bitcoin all over the world, which will increase the value of Bitcoin to the top. There were some wild ups and downs that made it a fast speculative rich asset, but now the scenario has changed and millions of people prefer Bitcoin as an asset, To learn more about this go check Bitcoin Loophole.

Stability of Bitcoin vs Gold

Any good asset must have a stable long-term stable investment and gold has proven its long-term stability, even the price of gold is always going higher and higher, even the market is in recession and declining due to its long-term use as the backing of the currencies and shown as a stable asset

Although bitcoin was a bit unstable in the past and had shown many incredible ups and downs in its price in value with the effect of other markets, now it is not only gaining the trust of people and investors but also the nations, now the price of bitcoin is not even stable, but it also increases without affecting other markets like global stocks or any other natural disaster or war

The utility of Bitcoin vs Gold

Gold has been used as one of the major trading currencies for a long time around the world and is used by almost every civilization in the world due to its scarcity, beauty, and utility, making it the best credible trading currency, and investors and traders know it. that its value will not stop in an ascending pattern, but to use gold as currency is a long process

Compared to Gold, Bitcoin had just been buried in the race, but it has made its space so fast that it is now considered more profitable and reliable, any Bitcoin user uses it very easily as a currency to buy anything and buy it with just one click. in there is a mobile device or a PC using the wallet application, before it can not be used everywhere, only some merchants accept, but now it will happen in the next few days, as PayPal will now support cryptocurrencies

Storage of Bitcoin vs Gold

If you use gold as an asset, you need to store it somewhere safe under the supervision of some professional security companies, who need a specific vault and need to be supervised, which costs an additional amount and makes it risky as a safe haven asset without properly supervised the investor cannot rest on the security of the investment

Bitcoin is a totally digital asset that cannot be seen, it is a virtual currency that did not need any specific palace to store it, merchants can use an electronic wallet, a web platform, or a physical disk to store it, with the high-security system of cybersecurity no one can steal or damage your assets and there are no additional fees to take care of the asset making it the best safe-haven asset ever