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Home Tips and Tricks

Should You Buy Gold or Bitcoin during the Pandemic for Better Returns?

by Miles Austine
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The coronavirus epidemic has set a fear among investors and traders. Due to the announcement of lockdown protocol by the governments, most of the industries are facing massive losses during the pandemic. Many people are struggling with their personal finances due to this. 

Stock investors are now looking for a safe haven to save their wealth. Some experts suggest investing in gold, whereas some suggest liquidating all your holdings to cash. 

However, those who are interested in digital currencies are considering bitcoin as a safe investment in this situation. 

So, what would be the ideal call ‘gold’ or ‘bitcoin?’ Read on the full article to know whether to invest in bitcoin or gold.

Gold or Bitcoin: Which one to buy during the pandemic?

First of all, it is essential to understand why gold and bitcoin have been chosen for investing during the pandemic. There are several reasons which are mentioned below separately for gold and bitcoin. After that, you will be in a better position to decide which should you buy? Let’s start with gold.

Gold

Gold, the precious metal which is mined from gold mines, is considered as one of the best investment options during any economic downturn or financial crises. It has been proved in the past by maintaining its value during such a period. Here are some following reasons for which gold is considered as a safe-haven asset during an economic downturn.

  • Store of Value: Gold is one of the best investment options which is used as a legitimate form of value. That means the amount of gold does not deflate during the economic downturn. It has maintained its value during such periods in the past. 
  • Gold can be hedged against inflation: As gold is released from mining which is not in the control of the government, so the price of gold can’t be manipulated by the government. But the government can devalue the national currency for paying debts or bringing stability to the economy. So during economic stability, gold can be used to hedge against inflation.
  • Alternative asset for diversification: Gold is used as an alternative investment asset for diversifying investment portfolios.

With all of these advantages, gold has some disadvantages too. There is a threat to store gold in a safe and secure place. However, the joint venture MMTC-PAMP has come forward to provide a solution to the storage problem by issuing digital gold. 

Investing in digital gold is nothing but investing directly in gold but in the digital form. You don’t have to worry about storage, purity, buying, and selling problems. You can buy and sell gold with a significantly less amount in fractions of gold from anywhere and anytime.

Bitcoin 

It has only ten years passed, but the value of bitcoin reached around $11,800, at the time of writing this article. In 2017, it surged up to $19,900 from $1000, and you will be surprised to know that the value was only $0.0008 when it was first traded. 

With this unbelievable return, investors are heavily investing in bitcoin, and many investors also hope that it will reach $1 million in the next few years. However, is it a safe option during the pandemic?

Well, the price has gone down nearly $4600 in March 2020 due to the pandemic, but it has now hovered around $11,800. So, the price movement shows that bitcoin has become strong, and it can be a good option for investing in the situation. So, let us see whether it can also provide the same benefits as gold.

  • Store of Value: Yes, it can be used as a store of value. But the only concern is it is highly volatile and risky.
  • Hedging against inflation: Yes, as it operates through decentralization, the government can’t devalue its value. 
  • Alternative investment: It can also be used as an alternative investment option but with limitations. 

With all these advantages, bitcoin has a dark side. It is new in the market, highly volatile, and high risk apart from market fluctuations. 

Conclusion

Now comparing both gold and bitcoin, gold looks safer, but bitcoin can give better returns. Now it’s your choice if you want to save your money and then choose gold. If you’re going to risk your money to get better returns, then invest in bitcoin by opening an account at the pushmoney.app page. 

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