Gold or Bitcoin: Which is the Best Investment Option?
March 11, 2022 (Investorideas.com Newswire) Ever since cryptocurrency hit the market, it has garnered a lot of press. The trouble is that the press has not always been positive. This begs the question of whether it makes a good investment - particularly when compared to a commodity like gold, which has long been held as a reliable way to secure steady growth.
Sorting through the Murky Waters
When it comes to Bitcoin specifically, you tend to hear as much about dramatic losses as you hear about dramatic gains. What's more, you also tend to hear a lot of vague of confusing information about cryptocurrencies. Without a more reliable history that is offered by other investments, cryptocurrencies pose a more significant long-term risk.
How is Bitcoin Made?
If you've been paying attention to the value of Bitcoin, then you have probably also heard of bitcoin mining. Rather than the literal kind of mining involved in extracting precious resources like gold from the earth, the term Bitcoin mining is a metaphor that refers to a complex computerized process through which new Bitcoin is created.
Why Choose Gold?
One of the main reasons people trust gold as a low-risk investment is that it tends to stay more stable than other commodities. That's because the price of gold tends to decrease less than the value of other commodities even when the market is terrible.
While gold has enjoyed some dramatic spikes in value in recent years, there's no guarantee when these will happen. That said, if you want to put your money somewhere that will be dependable despite an uncertain market, investing in gold is one of your best options.
Gold is Valuable in General
Gold isn't only valuable as an investment; it also has real-world applications that make it more tangible than cryptocurrencies like bitcoin. For example, without investing a penny, anyone in possession of materials made of gold can earn money fast and easily by selling them.
Selling Dental Scrap
For example, dentists can take their dental scrap to a precious metals refining business to extract the gold, silver, platinum or palladium it contains for resale. In most cases, the dental refining company will buy it themselves. For dentists, it is essential to work with a company that offers to provide a metals report to ensure you're getting a fair value for your dental scrap.
Tried and True Ways Are Safer
Given that cryptocurrency crime hit an all-time high in 2021, there's also a strong indication that investing in gold will be a safer choice overall. When you need to worry about things like
- Identity Theft
- Illegitimate Cryptocurrencies
along with the high potential of a crash in value, it becomes clear that cryptocurrencies present you with a risky option for investing your money.
While you might get lucky with some solid quick returns with bitcoin or other new cryptocurrencies, it isn't as secure for a long-term investment. Besides the risk of crashing values, you risk becoming the target of cybercrime. However, if you're a dentist, one of the safest ways to earn money is to trade in your valuable dental scrap to a company that can refine it for resale.
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