Gold vs Crypto! Paper Gold vs Physical Gold. What should I be investing in, should I Buy Gold Crypto or Silver? Get educated so you can make your own decision, invest in yourself.
Old vs New, Centralized vs Decentralized – Gold has been around 1000s of years crypto just a bit over 10 years. Why would you want to invest in Digital Gold?
Crypto is still relatively new to the trading and investing scene but that doesn’t mean you should not be interested in trading crypto.
Many people are calling crypto the New Digital GOLD. People who got in early and mined this new digital gold have made a lot of wealth. Many experts are predicting Bitcoin could reach 100k! are you prepared to miss this new digital gold rush??
You have all heard of Rich Dad – Poor Dad right, well check out this video where Robert Kiyosaki & Anthony Pompliano discuss Gold and Crypto, the new Digital Gold.
Crypto Facts and Myths
Interesting video, so Let’s go over a few facts and myths.
Bitcoin is considered by many as one of the most revolutionary breakthroughs of the 21st – 2nd only to the internet. Bitcoin was the first, numerous cryptocurrencies have been and gone after Bitcoin. This is proof that Bitcoin and the blockchain are here to stay.
Some interesting facts about Bitcoin – Did you know why May the 22nd is Bitcoin Pizza Day? On 22 May 2010, two Pizzas were exchanged for 10,000 BTC. This was the first official documented purchase of goods using bitcoins. At that time, 10,000 BTC was $41. Today 10,000 BTC is around $107,500,000 USD.
Have you heard that Bitcoin is untraceable? Not true how do you think the FBI busted the owner of Silk Road? When making a transaction your name/identity is not recorded, only your Bitcoin public address is available. The blockchain is a permanent and transparent ledger. If anyone knows your Bitcoin public address, they can see what transaction you have made and how much bitcoin you hold. Yes, it is difficult to trace but not impossible.
Lose your Bitcoin private key, you lose your bitcoins. True – YES you do. The story goes that a James Howells cleaned out his desk at home and threw away his hard disk containing the private keys of his bitcoin that he had mined. He searched high and low but could not find the disk with the private keys for approx 7500 BTC. Without these keys, the funds are gone, so in today s market you could say he threw out around 80 Million US Dollars – Yes $80,000,000. It has been said that around 25% of Bitcoin has been lost.
There will only ever be 21 million bitcoins. -True. Remember central banks can just print their own money but once Bitcoin reaches 21 million that is it forever. The last bitcoin will be mined in 2140. After that, no new bitcoins can be mined. Bitcoin has a limited supply, do you think that will make it valuable?
They are going to ban or stop Bitcoin – they can’t if you have a digital wallet and an internet connection you can exchange BTC. Countries can, however, try to regulate it and some, countries like Australia and Japan have made Bitcoin an official legal tender and other countries are still not sure what to do with it. But give it some time, the beauty of Bitcoin is it can’t be pushed away just because it threatens the financial power structure. Bitcoin is the way of future currency.
Those are just a few interesting facts and myths about Bitcoin if you are still struggling with the terminology click the link and jump on over to my post Understanding the Crypto Lingo
So you still think Crypto is not real or is Fake Money well ponder this, you have heard about the gold standard right.
A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. In 1971, they dropped the gold standard which basically meant they can print money when they want. If you want to know more click the link for Investopedia’s definition of What is the Gold Standard
Now, remember there will only ever be 21 million BTC but normal fiat currency like the USD they can print whenever they want, see where I am going? what do you think will increase in value? Bitcoin can NOT be counterfeited, EVER because of the Blockchain technology behind it. So paper money can be counterfeited and printed whenever a government decides to which devalues it and Bitcoin has a limited supply which increases its value and can not be counterfeited – Something to think about.
Investing or Trading.
So if you have watched the video and done a bit of research you probably realize like me that investing in crypto is not a bad idea, that is my opinion, not saying you should you need to make up your own mind. At this stage in my life, I am actively trading crypto and starting to invest.
Speaking of trading check out what just happened, this is why I love trading crypto, while writing this article I have been watching the charts and I placed an entry for a short trade. In that short amount of time, I have taken my profit and I am out of the trade.
I have posted this not to brag but to show you how easy it can be and why I like trading crypto so much. This trade took a few minutes to identify a few more to check it meets all my rules and then I just had to place the trade, set my take profit and stop loss. That is it, set and forget, that just happened to be a good one, mind you, they don’t always work but if you play the game of probabilities with an edge and stick to your trading plan you will come out in front over the long term.
Got to love Crypto trading, I have spoken mainly about Bitcoin in this post but to trade crypto you don’t need to own Bitcoin or only trade Bitcoin. I typically watch the top 100 in the market cap so there are lots of options other than BTC.
At the end of the day because I am not talking about investing now but just trading it doesn’t really matter which coin I trade. I have no bias on what coin when it comes to trading, if it meets the requirements for the strategy I use and has enough volume/liquidity I will trade it. I will be in and out over a short period and it doesn’t matter if it is going up or down, I made a profit on the trade above when the price was falling. Pretty cool hey have I said how much I love crypto????
What Now – Invest or Trade
Well, I hope this article has given you a bit of an idea why I get so excited about crypto and whether you should buy gold crypto or silver. I am just starting to get into investing with crypto so look out for future posts about investing crypto but for now, Let’s just consider the trading.
I hope you realize crypto is real and will be a big thing in the future of currency. To trade crypto you don’t need to worry too much about which coin you are trading, you are not investing you are just trading it for a profit and to do that you just need a solid strategy and good trading plan. You certainly don’t need to know everything about every coin. My future articles will go more into strategies and trading plans but if you have any questions or have a good investing strategy let me know, just shoot an email to firstname.lastname@example.org and remember………….
Be the Best you can Be