Silver has long been an investor’s favorite. Even in today’s digital age, people are still investing in this highly versatile precious metal. But modern times have given way to new and exciting ways of investing in silver, such as with Silver Coin. This article explores the benefits of investing in silver and how a silver-backed cryptocurrency brings this popular safe-haven asset to a new level.
Why Invest in Silver?
Silver is a precious metal that many investors add to their portfolios as a store of value. They’ve been doing so for more than four millennia. Up until the 1900s, silver was also widely used as legal tender in developed countries. Today, silver coins can still be used as an investment and, in many cases, as money. This versatility is compounded when you think about how silver is used in modern industry, including:
- Electrical connections in cars
- Manufacturing solar panels
- In water purification systems
- As an antibiotic in medicine
A silver investment often comes in the form of collectibles, from jewelry to coins and bars. When you make a silver investment, you have the assurance of a hard asset that is versatile and highly available in world markets.
Silver investments have evolved, and today you can find everything from silver-based IRAs and ETFs to minted silver certificates and bullion bars.
The Drawbacks
In today’s fast-paced markets, digital currencies are becoming more popular. This is mostly because crypto markets are open non-stop and are more appealing because they are technologically advanced. Additionally, investing in silver bars and collecting silver coins may seem outdated to many investors, who hear about Bitcoin and other crypto’s regularly in the mainstream news. Lastly, storing your physical silver gives investors added work as well as the worry of theft.
Thankfully, there is now a digital way to own in silver that embraces the 24/7 markets, offering silver investing in new and exciting ways.
How Does a Silver-Backed Cryptocurrency Work?
A silver-backed cryptocurrency works much like a crypto stablecoin. Each crypto coin is backed by something. In the case of many stablecoins, the backing comes in the form of fiat currencies such as USD or a basket of currencies. But now, precious metals such as silver are being used to back crypto, giving investors an entirely new way to invest.
SilverCoin Ushers Investors into the Digital Age
With SilverCoin, cryptocurrency investors can avoid the high levels of volatility seen with major crypto coins. Instead, they get a token that is backed 1:1 with silver that aligns with silver’s price. They also enjoy a level of liquidity not seen before with silver investing, with global markets that are always open and thousands of cryptocurrencies that can be accessed with their silver-backed coins.
SilverCoin is minted off the EthereumBlockchain as an ERC-20 token, the standard in the crypto world of trading. Investors can purchase the coins using fiat currencies or almost any cryptocurrency, making it easy to get started. Additionally, because of the tokenization, it is easy to fractionalize silver, meaning you no longer have to buy an entire silver bar; you can choose whatever amount works for you to begin investing in silver.
Investors no longer have to store and secure physical silver to enjoy the long-term store of value benefits silver has always provided. Now they can simply buy silver-backed crypto and enter the world of digital assets – the new and modern way to buy, sell and trade silver.
