Differences and Similarities Between Gold and Bitcoin

Plenty of people are calling Bitcoin a new form of gold. There are certainly similarities between these two valuable objects. There are also some differences between Bitcoin and gold. Let’s take a look at how what they have in common and how they differ. How Bitcoin and Gold are Similar: Respected and Legitimate Forms of Value Bitcoin and gold are both used as a form of value. Each is durable. Though Bitcoins require the internet and software, there is little chance the internet will be inaccessible for an extended period of time. Bitcoin miners are almost certainly going to be available as time progresses. Durability Though gold wears slightly if it isn’t handled with care, it is generally revered as quite the durable precious metal. Bitcoins are also quite formidable in composition. Scarcity Gold and Bitcoin are quite scarce. The number of Bitcoins is inherently limited to 21,000,000 units. Nearly 15,000,000 Bitcoins have already been created. Gold is especially scarce. Though traces of gold are found in many places on the planet, it is difficult to find a considerable amount of the precious metal. Recognizability Both Bitcoin and gold are quite recognizable. Bitcoins have signature characteristics and cannot be counterfeited. Gold is also quite recognizable. However, it is sometimes tested for purity to ensure the buyer is not purchasing fool’s gold. Comparability to Commodity Assets Both gold and Bitcoin have properties that are common to typical...

Bitcoin Prices

For all the success Bitcoin has had over the past several years, the cryptocurrency has struggled to adequately manage the rapid growing number of transactions and spike in demand. Those who understand the technical aspect of Bitcoin have long recommended an alternate implementation of the cryptocurrency to remedy its back-logging challenges. Indeed, this suggestion has become a legitimate solution that is now a reality. Bitcoin has split into two: Bitcoin Cash and regular Bitcoin, now referred to as Bitcoin classic. The Promise of Bitcoin Cash Similar to the original Bitcoin, Bitcoin cash makes use of the cryptocurrency’s main innovation: the Bitcoin blockchain. This is a permanent ledger of each transaction conducted with the Bitcoin currency. The recent split has created two versions of this ledger. It will greatly improve efficiency by heightening transaction capacity. Bitcoin Cash blocks have already been created on their own blockchain. The currency is currently trading around $375 USD for each coin. Orders are pouring in left and right. Yet some doubters argue practical issues could arise such as disappearing coins. There might also be philosophical tiffs like the general overarching agreement that the blockchain represents the single true Bitcoin. The hope is that the new iteration of Bitcoin makes it easier to utilize Bitcoin for purchases and sales. Those who mine Bitcoins are particularly happy about the split. These miners control Bitcoin’s supply....

Bitcoin Exchange New Zealand

When Bitcoin first hit the scene, it was considered to be a novelty that would soon disappear like so many alternate currencies before it. The exact opposite ensued in the years that followed. Bitcoin exploded in popularity and soared in value. Numerous Bitcoin exchanges have popped up in recent years and months. Yet not all of these exchanges are equal in terms of ease of use, reliability and legitimacy. If you are a bit confused by Bitcoin and how to purchase this intriguing new digital cryptocurrency, don’t fret! MyGold is here to help. Let’s take a quick look at the basics of exchanges. A Brief Look at Exchanges Exchanges serve as marketplaces where financial instruments like commodities, securities and derivatives are traded. The primary purpose of exchanges is to guarantee that trading is performed in a fair, organized and efficient manner. Furthermore, exchanges ensure that pricing information is provided to buyers and sellers in an accurate and rapid manner. Exchanges provide individual traders, companies and even governments with a means of selling and buying securities. This platform can take the form of a physical location or an intangible digital environment. As time progresses, more and more trading activity is being conducted on digital exchanges. Examples of popular exchanges include the Nasdaq, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE). All sorts of highly complex electronic trading programs have been generated to buy...

Gold Or Bitcoin? Gold And Bitcoin!

Plenty of investors are wondering whether they should park their money in gold, Bitcoin or other investments. There is a growing sense the world’s top banks are entering dangerous territory. More and more investors are giving strong consideration to alternatives rather than those seemingly tried and true traditional investments. If economic uncertainty increases, there will likely be a flood of money to so-called safe haven investments like gold and other precious metals. Some investment gurus think cryptocurrencies like Bitcoin will fare quite well if the economy falters. The question is quickly becoming how much money to put in each of these investment vehicles rather than whether they are worth investing in. Here’s why. Invest in Gold and Bitcoin There is an emerging sentiment amongst seasoned investors that gold and Bitcoin complement one another quite well. This means that the positives and negatives of each counterbalance in a symmetrical manner, providing a relatively safe investment duo that can withstand considerable market fluctuations. Time just might prove that Bitcoin and gold are best bought in unison. Both could play an important part in economic events across the next years and decades. About $7 trillion of gold exists in the world. Around $33 million of Bitcoin exists. Bitcoin is anti-establishment at its core as it is an alternate currency created through a complex network of computing power. Gold is an indestructible asset that will always be...

Why Diversification With Precious Metals is Essential to Your Portfolio

Just about everyone knows it is prudent to diversify investments in terms of stocks from numerous industries, several different mutual funds, cash, bonds and so on. Some attempt to diversify by purchasing real estate. Yet an economic downturn is almost certain to affect traditional investments including the price of real estate. You can hedge against an economic correction by investing in precious metals like gold and silver. In fact, most investing experts argue diversifying with precious metals is essential to a healthy portfolio. Investment Diversification Extends Beyond Stock Holdings When someone speaks of diversification, most people think of putting their money in stocks that span a wide array of economic sectors. Yet this is merely one aspect of diversification. Even the most diversified investment portfolio is at risk for a monster decline should the stock market endure a significant correction. This is precisely why the savviest investors are adding precious metals to their portfolios. Precious metals are typically viewed as a safe haven when the economy endures a correction. Investors panic, pull money out of stocks and redirect it to gold, silver and other precious metals. There is significantly less risk with precious metals than stocks, especially during uncertain political and economic climates. This way, if the economy falters, if inflation spikes or if insurance rates jump, precious metals won’t be subject to considerable risk like their...

MYGOLD EXCLUSIVE: SECURE YOUR DIGITAL GOLD/BITCOINS

Due to demand, MyGold® now offers a cryptocurrency trading service with Bitcoin & Ethereum. You need to be part of this game-changing technology (blockchain) and their exciting ascension into universal currencies. Cryptocurrencies like Bitcoin have experienced incredible increases in values in the past 10 years, making them worthwhile to follow, trade and own as new forms of currency. A single Bitcoin was priced at US$1c per coin back in 2010. Today, it is worth around US$2,440 per coin (twice the price of gold per oz). Another cryptocurrency that is quickly gaining mainstream appeal is Ethereum. It was priced at US$1 at the start of 2016 and is now worth more than US$257. With MyGold® you can now buy and sell Bitcoin with convenience, security and ease. Simply send funds for the crypto you wish to purchase and we will deposit directly into your digital wallet. Contact us and we will guide you through the process. Click here to learn more about cryptocurrencies. Did you know MyGold also accept payments for bullion in purchases in Bitcoin and...

Exciting New Release – 1oz Silver Guardians

1oz Silver Guardians MyGold are proud to announce our new Silver Guardians – 1oz Silver Bullion coins! Made to the highest standards of quality and craftsmanship. Sold in lots of 20 x 1oz (Tube) or Individual Capsules 20 x 1oz Silver Guardian Bullion Coins @ $26.90 each = $538 1 x 1oz Silver Guardian Bullion Coins in Capsules @ $31.90 each Best value Silver Bullion Coins in New Zealand along with our Silver Stags. MyGold is honoured to announce the stunning new “1oz Silver Guardian” – a coin that celebrates New Zealand’s unique Māori culture and traditions. This highly crafted icon pays homage to the Earth and acknowledges our collective role in her guardianship. In collaboration with celebrated Māori tattoo artist TURUMAKINA (Tū for short) we bring the exceptional “Silver Guardian” to the market for our privileged customers. Technically and visually stunning the “Silver Guardian” features Tama-nui-te-rā (a Māori Sun God), on the obverse, and a Manaia on the reverse – a guardian of life in in all its manifestations. The Manaia is a believed to be a messenger between the earthly world of mortals and the domain of the spirits – in this case to acknowledge the protection of Papatūānuku (the land) and all her resources. Collectors and precious metals investors will find this piece to be the perfect addition to their collection. The coin represents an intricate combination of master craftsmanship, design, technology and manufacturing processes. To say its design is highly...

1oz ‘Trophy’ Stag Silver Bullion Coins are the Missing Piece to Your Coin Collecting Puzzle

MyGold is proud to mint and sell the 1oz ‘Trophy’ Stag Silver Bullion coins. We have minted these beauties in the past, sold out and recently resumed production due to demand. Investors have told us how much they like the design, quality of minting and the favourable pricing.   A Look at the 1oz ‘Trophy’ Stag Silver Bullion Coins Our stags capture the spirit of New Zealand to perfection. Our homeland is quite stunning in a number of aspects. New Zealand’s wild essence is portrayed on the stag silver bullion coins in exquisite detail. The inspiration for the coin stems from the first-hand observation of a glorious stag. The coin’s creator witnessed a multi-point Red Deer stag with robust antlers positioned in the country brush between Ureweras and Kaimanawas. The observation of this wondrous animal in its native New Zealand scenery led to the creation of this widely-coveted collectible. It pays respect to the Red Deer’s awe-inspiring aesthetics, intelligence and spirit. A Coin Worth a Second Look Give the coin a close look at you will see that it truly reflects the stag’s wild heritage with a particular focus on its stunning antlers used to protect its territory and attract a mate. Each of these shimmering coins is handcrafted by talented artisans, mirror-finished and quite gorgeous. The front side of the 1oz ‘Trophy’ Stag Silver Bullion Coins features a shockingly realistic portrayal of the stag in all its magnificence. The reverse side of the...

How to Avoid Buying Counterfeit Gold and Silver

Prospective gold and silver buyers should abide by the mantra of “buyer beware”. Though most precious metals dealers are forthright, there are some bad apples in the bunch. So, don’t assume that every single piece of gold and silver up for sale is legitimate. Some of these items are counterfeit. Here is how to distinguish between legitimate gold and silver and the phony variety. Look for the Stamp The vast majority of real gold pieces, be it gold bars, coins or jewellery, have a stamp. This stamp indicates the gold’s purity. Bring a magnifying glass with you on your gold shopping adventures so you can read the stamp details. The mark will show the fineness such as “.999” or the karats such as “24K”. Silver pieces have an International Silver Stamp Rating along with a three-digit purity rating. If you don’t find this string of words and numbers with your magnifying glass, there is a good chance the silver is fake. However, it is also possible for an especially dedicated fraudster to create fake markings on phony gold. Analyse the piece in question according to the following criteria to determine its legitimacy. Mind the Colour Take a look at the piece for discoloration. If you spot discoloration, it is a sign the item is merely gold plated. Though not all gold coins and other gold pieces are 100 percent pure, a piece that strictly has gold in the form of plating should not fetch top dollar. Obtain a Grading Reach out to a precious metals expert for a...

Trade Gold & Silver

If you are wondering whether it is prudent to buy physical gold and silver or trade these precious metals with Forex trading, you are not alone. Though Forex trading has the potential to yield gains, it is incredibly risky. Think about how long and hard you had to work for your money. Why expose it to a high level of risk when you can build wealth by purchasing physical gold and silver? This is precisely why most people opt to invest heavily in tangible precious metals and risk a small portion of their savings on gold and silver futures at some point in the future. Others refuse to accept the egregious level of risk posed by Forex trading, purchase tangible precious metals and live with an invaluable peace of mind. The Rise and Risk of Forex Trading Tech advances and the addition of new trading options across the past decade have made it possible to trade gold and silvers futures. Plenty of Forex brokers offer trading in these precious metals along with palladium and platinum. One of the troubling aspects of trading gold and silver through Forex brokers is the fact that it is an “over the counter” product in which the buyer does not actually receive the metal. Gold and silver are traded on this platform in a manner similar to currencies. Plenty of Forex brokers will provide margin and leverage on precious metals contracts. It is clear that Forex brokers are looking for investors who are willing to put up a mere fraction of the money necessary to purchase gold and silver in...
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Adrian
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