The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Will Cryptocurrency Replace Gold?
There is a lot of hullabaloo about the crypto currencies these days. Courtesy: Bitcoin. The dramatic rise of this digital currency, out of over 800 others, has led every other investment enthusiast to dive into the details of Bitcoin and other crypto currencies. For years, investors have trusted on Gold and the most precious metal has never let them down. Let’s delve into gold’s comparison with crypto.
Gold is tangible and if we compare it with virtual crypto, gold is legal across the globe but crypto is not. Gold is used for trading since millennium but crypto is just a baby in the investment market. Gold is fully insured if robbed but crypto – just a code – is not risk free of cyber theft. JP Morgan’s quote brilliantly sums it up – “Gold is money. Everything else is credit.” Skeptical about your investments plans in the year 2018? Read on the most informative inforgraphic as we compare crypto currencies with gold from the investment perspective.
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