Why you should invest in gold, silver and cryptocurrencies

[Edward Rivera]

Well I am going to give you 3 reasons why it would be a good idea to invest in these resources but first I would like to clarify that these tips are personal and it depends on each person if they decide to invest according to their financial situation.

1. the money you handle every day is subject to devaluation
2. if you leave all your money in the bank they can charge you taxes for saving as well as being vulnerable to fraud
3 gold and silver are objects that will always be worth and its form of exchange is simple

 

[Yugocean]

This type of investment and saving also depends on the policy of the country and bank; gold/silver can be purchased and kept safe for later use, and so does cryptocurrencies; both have to be saved on their own way, people can use metals as jewellery and other products, but cryptocurrency can only be stored into digital wallet.. If a country have low tax policy on precious metals, then it would be much better; cryptocurrencies on other hand hardly are in tax net till they are converted into fiat or are used to purchase other precious metals.

 

[Alexandoy]

I would agree in investing in gold but not in silver and not in crypto currency either. As you have stated that the value of gold remains stable although sometimes the market price fluctuates but not dangerously low. With silver the demand is not as much as gold while in crypto currency you really do not know of its future. Once the demand wanes the value will crash and the commodity will be gone. Yes, crypto currency is not real money but just a currency that exists for now but we do not know for how long it will be in the market.

 

[Donkiz]

The truth is that investing your money in profitable ventures is more rewarding than saving it in the bank. With the level of inflation and the poor state of many economies which has been worsen since the rise of covid-19 pandemic and the lockdowns that followed it, money saved in an account stand the risk of losing its value and purchasing power.

Having said that, we should also be mindful of the type of investments we put our money into. Even though investment in gold, silver and cryptocurrency are good, we should also remember that some of them are high risk commodities and highly volatile in nature, so we should know the amount of money we invest in them to avoid incurring huge losses.

 

[btaliat]

The lockdown scenario has opened many people eyes including me the essence of saving as a mesns of having other in or if not for future purposes. Investing in any of the assets the poster mentioned is not a waste of time nor resources. Especially the gold and cryptocurrencies. Gold can never lose its value because its usage can never be obselote. It is used in making most jewelries which make its demand inevitable while cryptocurrencies is aiming at taking over the world form the fiat currency.