Gold and Cryptocurrencies

How to buy Bitcoin in New Zealand with MyGold

The global economy has performed quite well in the recent past yet we all know this upswing can’t last forever. The sad truth is it is only a matter of time until the economy slows down and enters a trough. The question is when this recession will occur and whether you will time it right. There is no doubt the next economic dip will ruin careers, investments and human lives. You need to be prepared with an intelligent investment plan. There is no need to build a disaster shelter and hoard canned food. You can survive the next recession without losing your nest egg by investing with prudence.

Gold or Cryptocurrencies?

Gold has served as the basis of wealth during economic downswings. Cryptocurrencies now serve a similar role. People around the world are flocking to cryptocurrencies like bitcoin to store value. These cryptocurrencies will prove especially important during the next economic lull. Part of the cryptocurrency appeal is it is not regulated by any government. While the government can always seize assets including gold, there is no threat to cryptocurrencies. Do not lose sight of the fact that gold is tangible while cryptocurrencies are intangible. A cryptocurrency like bitcoin exists on an electronic ledger. It is electronic but functions like real money. More and more businesses are accepting cryptocurrencies with each passing day.
Alternatively, if you try to bring your gold to a store, it probably won’t be accepted. Furthermore, cryptocurrencies can be stored with ease. There is no need for a vault or any other protective measure when you invest in cryptocurrencies. As long as you have a computer and web access, you can use cryptocurrencies. In fact, all you need is a web-connected digital device to purchase items and services across the globe. The same cannot be said of gold.

What About Upside?

Gold tends to increase in value during economic downswings. The potential value of cryptocurrencies has no ceiling. No one is exactly sure how cryptocurrency value will change when the next recession rolls around. However, it is expected that people will move their money to these alternatives to traditional safe havens. The upside of cryptocurrencies is unlimited. In comparison, gold typically tops out a at a doubling of its value during economic recessions.

The Question of Value

Some question as to whether cryptocurrencies are overvalued or if they actually have legitimate value. Consider the fact that you can use bitcoin to do anything from buying a plane ticket to purchasing a slice of pizza and getting a cup of coffee. Businesses in major cities accept bitcoin and other cryptocurrencies at the moment. More and more organizations will likely accept these alternative forms of payment as we progress into an uncertain economic future. The optimal solution is to hold cryptocurrencies as well as gold just in case the value of either spikes when the global economy eventually sours.

Both Gold and Cryptocurrencies Have Universal Value

Take a moment to think about how nice it would be to travel from one metropolis to another, spending bitcoin for services, products, accommodations, food and nearly everything else. Such an expedition would have seemed like a pipe dream half a decade ago. Today, it is a reality. Bitcoin lets you live a fulfilling life regardless of global economic conditions.

Gold also has universal value as well. Civilizations have relied on gold as a store of value for millennia. Though merchants might not accept gold like cryptocurrency, you can exchange your gold for cash regardless of where you are positioned on the globe. In the end, it makes sense to invest in gold as well as cryptocurrencies. Diversify your investments with positions in both and you will have a healthy level of financial risk that ensures you emerge from the next recession without losing your nest egg.

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