Everyone intends increasing their wealth at positive rates. Stability and progress in accumulating our hard-earned money are always in our minds. Most of us are good at collecting a serious amount of funds quickly but keeping it grow is a tough task that creates a headache. There are many options that promise secure wealth accumulation. One of the basic ways to keep wealth is gold. This metal has been precious since ancient times when pioneers of civilizations like Greek and Roman have fought for it by expanding their vast territories. Gold has been an incentive for anyone with an optimistic way of thinking. Here, some pros and cons of keeping your wealth in the form of gold.
Liquid. You can sell it anytime and anywhere because it’s luxury color attracts many eyes.
Stable price. Despite several financial crises gold thrives to keep its value increasing.
Easy to melt. If you have special equipment for metal melting you could simply change the shape of your gold bar.
Danger attraction. Since the gold is precious evil-minded people try to take it away from you. Keeping at home is not a good decision. A reliable bank is the only choice for storage.
Heavy. Gold bars have a serious weight that requires strength in carrying. Therefore, transportation with security guards and loading man usually facilitate moving the gold bars in tonnes.
Blockchain technology changed everything since the 2008 global financial crisis when the middle class was disappearing in the West. Bitcoin has been offering alternatives in investing since then. Mining and trading bitcoin affected the crypto market cap at the peak in 2017. However, a sharp price drop of cryptocurrencies left us hopeless in bitcoin’s price. Here, the pros and cons of bitcoin.
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Liquid. Bitcoin became a currency like US dollars but in the virtual world.
Simple to keep. Unlike gold, this virtual currency needs an only electronic wallet to be stored
Replaces money transfer. Fund transferring companies like Western Union and Swift could become nostalgic instruments like Nokia’s phones.
Digital. Virtuality needs electricity. Imagine you are in a rural area where you can’t access your wealth to make a significant transaction with a conservative tribe that uses no electric power.
Vulnerable. Hackers and crackers already found ways to steal bitcoins from vulnerable wallets. Its digital nature makes it weak for thieves.
Volatile price. People still do not trust this currency as if they trusted fiat money in the early 20th century.
In the long term, both options look pretty promising. For those who like to get quick margins from the trade, we advise looking at the palladium. The brother of platinum quickly gained popularity from investors. If you are interested to know more about investing in the palladium head over here.