Easy Precious Metals Stacking
Got Rekt in Crypto? then today's post is for you and one you might find interesting. So you're probably looking at your stack that has all been but wiped and it isn't the first time this year. If you're a long bag holder you would have been hit by the Terra (Luna) Network collapse and if it was you're first collapse you would have been watching everyone else who was reassuring you that this is apart of Crypto.
Then FTX collapsed and that one has even hit big bag long holders pretty hard out of the blue. Quite frankly it is a never before seen occurrence, yet everyone remains hopeful that crypto will recover which it probably will the question is will it reach 2021 peaks again? we will have to wait and see.
Have you thought about stacking precious metals?
If you haven't deleted all your crypto wallets yet and tuned off then you're probably currently thinking about your next move and still very much interested in trying to regain some of those losses and like me you probably already picked up some Hive and Leo tokens but are a little hesitant.
As we enter a recession all stocks are down and may decline further and as inflation rises people are looking for places to park their cash. The one asset that always performs well throughout a recession and overall are precious metals.
Now don't be put off guard because you're probably investing in Crypto because you THINK you don't have enough liquid cash to buy ounces of gold and quite frankly a lot of us don't. But if you're used to Crypto trading than this precious metals strategy will be right up your ally.
Precious Metals Pools
Australian gold dealers ABC Bullion and The Perth Mint offer investors seeking to enter the market affordable ways in doing so that won't break the bank and is just like trading crypto only with a heck of a lot of liquidity. One thing it won't offer though is the chance to 100000x moon but if you're reading this you may have already given up on that.
I am after another ounce of gold but I don't have the money to buy one as yet but what I can do is use the money I have spare to put into the Gold Pool which will still provide me market exposure and I have the gold backed asset. While I don't get a physical piece of gold I get security in the fact no one can rob it and I still gain the price rises and also wear declines.
Every couple of months when I get some spare cash I can contribute to the pool building my holdings which I can sell at any time as trading on the platform is open 24/7.
The best part of it is that once I build up to another ounce I can trade my pool value for a physical piece of gold for a $AUD30 fee and they will ship it to me from their vault right to my own vault.
Gold isn't the only precious metal on offer as there is also Silver, Platinum and Palladium which in future I will use this method to purchase Palladium as I am wanting to get my hands on some in the long term.
The benefit in stacking this way is that I am setting a goal and working to it and price now no longer because a barrier I can even set up a Gold Savers account and have as low as $AUD20 automatically come out of my bank account each pay and straight into the precious metal that I want without even thinking about it.
So if you're stuck on your next move and are looking for an idea I hope this one has provided some food for thought.
Thanks for reading!
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Posted Using LeoFinance Beta
That's incredible but unfortunately I doubt it will work here in Canada but I'll check it out anyway, thanks for sharing
I believe it may, they're an international company so I think you'll be OK. But it would be good to know. Let me know how it goes.
That's a pretty cool idea, I like that you can get it shipped to you too!
Posted Using LeoFinance Beta
Yup It's a great way to build up savings outside of a bank and with gold prices climbing you get a few gains a long the way.
Posted Using LeoFinance Beta
Indeed it does. Precious metals don't experience this huge fluctuations like cryptocurrencies. I think they're one of the safest bets right now against the looming recession.
Yup and overall growth is positive in the long run.
Posted Using LeoFinance Beta
We keep stacking
That's the goal
I don't really stack the physical stuff due to the premium. So I tend to just do the miner stocks instead. At least I can also sell some calls every now and then to score some extra profit when things looks right.
Posted Using LeoFinance Beta
Everyone has a different strategy and it's about picking what works best for them.
This Pool method sounds slick, my Canadian E-retailers don't offer this yet so I hope they are paying attention.
I'm hoping to get another ounce of gold locally but with my renovation bills/debt looming and the need to rebuild my emergency reserve versus cash flow, it's a tightrope walk knowing this recession is going to be a deep one.
I think it is open to everyone globally but not sure.
Slow and sure. Stacking ensures that I keep the value of my work!
And indeed, it has.
Posted Using LeoFinance Beta
Yup this is a vital part that people need to understand. Fluctuations in fiat value mean you lose money if you save cash. Storing it in Precious Metals means your value is retained
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