There was a time when I used to be a big-time investor in gold but now things have changed after I entered the cryptocurrency world. I was the one who was spending all the savings to buy gold throughout the year whenever I see either some savings in my account or there is any better price for the investment. My gold investment is not like a traditional investment that I buy low and sell high instead it's more of an emotional investment that I have been building for many years. I'm not sure when I'll be selling out and looking for some profit because as I already mentioned it is something that is connected to my emotions and I do not want to let it go away. I also know that this is not the right way but being an Indian woman decision my blood that the more gold I have the more I want to have and all that I have is something that I would never want to sell.
I don't know if that was an investment or just I was trying to accumulate more gold. Now since I'm part of the cryptocurrency world so I know better meaning of investment and some strategies that I need to follow to increase the portfolio as well as make it more profitable. I believe that cryptocurrency is better than gold because here we get better earning opportunities as compared to gold. This is why I invest only once in a year in gold and this is something I do not want to stop just because I am getting better profitability in crypto. Based on my experience I can say that investing in the crypto market has been more profitable for me because here I am booking profit and buying more coins which are helping me to increase the value of my overall crypto portfolio.
I am not a trader instead I am more of a long-term investor who is always keen to invest when the prices are low and build a portfolio for the long term which is not less than three years. I have learned a lot of things after joining crypto and sometimes I wish that I should have done it before but it's OK because whenever it happens there has to be some reason and I'm happy that I even joined friend a lot of people were not sure to be part of the crypto community.
Why Crypto is better than Gold?
I am an investor in both so based on my experience I can say this. Here are a few points-
- Gold is a physical investment which means whenever I buy it, I will need to carry it and keep it in a safe place which is also risky and for the locker, there is some cost involved. With crypto things are completely digital and we can carry our investment with us anytime that can be accessed anywhere in the world provided we have the required information or keys in place.
- The gold market is not volatile which I think is not a plus because this way the price grows slowly and we see a noticeable difference after a couple of years but not in a few months in most cases.
- like I only mentioned that investing in gold is sometimes an emotional decision that stops the opportunity for us to make some profit but with crypto, things are not like that because everything is in digital form and there is no point in doing emotional trade.
- crypto market has grown significantly as compared to gold and I am sure that in the coming years we are also going to witness the same trend with crypto. The price of appreciation of gold will never be able to match the Bitcoin price and This is why I feel that crypto is a better option to invest in if you have a vision for the long term.
It is important to keep our portfolio diversified but I am mostly in crypto now and gold is just a one-time investment which I do mostly during festival time. I have an addiction to gold to accumulate as much as I can but don't want to sell which is not the right way to invest ad I am glad that I follow a different strategy with crypto. This change of investment strategy helps me to grow the holding faster than gold.
Thank you so much
Stay Safe
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An interesting through process. That said, I would not say that crypto in general is better than gold since the former is so diverse. What we have is a lot of garbage so people have to be mindful of that. The comparison of Bitcoin to Gold could hold though. From that perspective, I think BTC has more utility along with the possible store of value in the future.
Much of crypto is more akin to stocks. That is where I see the value.
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I can't say what future will be of the crypto and bitcoin but as of now I am able to earn much more in crypto as compared to gold. This is the reason for me crypto is better than gold not and will see how it performs in next few year. Thanks for sharing your valuable comment.
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Things are changes the physical assets are being replaced by the digital one...
Mindset of people is also changing
Good luck for your investmen.
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very well said and digital assets are offering better opportunities
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greetings @reeta0119
No doubt that gold for many years has been the most precious mineral and its value has been maintained and increased over time , but as the world takes many turns we can expect everything from it and gold may lose its value and not serve for anything , however this new digital world each day is consolidating more , we must wait for what will happen