Here are five reasons, why crypto can be new gold ?

  1. Gold is not easy to store and also not very easy to liquidate into money. We need to have a safe place to keep our gold even if it is too little. Often we store the gold in a bank locker or volt if you have installed one in your home.  On the other hand, cryptocurrency can be store easily in our digital wallet with password protection. Also, it is easy to transact using cryptocurrency. Well, that’s the reason we call it currency. Cryptocurrency has the property of gold. Well, that means the value of the currency will not get depreciated over time.
  2. Transporting gold is often requires security. Well, we do not even need to mention this point. If you remember the last time you wore a piece of costly jewel, how many times would you check if it was fine and in place? Obviously, no one would like to lose their wealth in the middle of the party. On the contrary, cryptocurrency would not attract unwanted people’s eyes to your wealth.
  3. During a natural calamity, would you protect your life or the gold which is there on your volt? Well, crypto would come along with you as long as you remember your password. You can retrieve your wealth anytime, anywhere, as long as there is a receiver.
  4. In case of an economic crisis due to war, inadequate political leadership, or a bad bank, Buying power of actual currency would go down. On the contrary, the gold price would go high; however, who will have that money to buy the gold. Cryptocurrency would have an autonomous economy and would not get influence or impacted by the local economy.
  5. Gold would restrict any individual from travel as they need to come back to where it is stored to liquidate. But crypto gives you the freedom to travel with your wealth and gives you the freedom to liquidate anywhere.
  6. Bonus point gold prices would go down when humans start mining on other planets in the future.

Disclaimer The thoughts expressed in the blog is education purpose only and not finncial advise.

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