Gold or Bitcoin as the currency of safe haven?

Gold or Bitcoin as the currency of safe haven?

In this world of uncertainty, poor economy’s where is the best place to put your money for safe keeping? Do you go for the rock-solid tangible asset of Gold or do you put it into the gold of cryptocurrency Bitcoin?
Let’s look at the positives and negatives of both options.

Gold

Positive

1. It’s a tangible proven asset that has stood the test of time.
2. It’s rare and in decline and therefore has great value.
3. It’s recognised world wide as a valuable asset.
4. It’s offline and cannot be hacked.
5. Proven increase in value.

Negative

1. Not easy to trade in small amounts, if your holding is a single bar.
2. It’s heavy and not digitally exchanged.
3. Not many places take gold as a method of payment.
4. Physical storage.

Bitcoin

Positive

1. It’s digital.
2. It’s easily traded online and in small percentages.
3. An increasing number of vendors are accepting Bitcoin as a method of payment.
4. Finite supply of Bitcoin, resulting in increased value due to supply and demand.
5. It too can be backed up and made available via an offline wallet.

Negatives

1. No central authority to refund transfers going to the wrong address.
2. Nothing tangible to hold on to.
3. Value is very volatile.
4. Exchanges and wallets subject to hacking, resulting in a loss.
5. Not everyone knows or understands what bitcoin is.

It’s a tough decision to make, especially if you have a large amount of money your want to protect. Maybe it’s best to split between physical gold and digital Bitcoin. This would give the best of both worlds and limit exposure.
Whatever you decide, make sure it’s right for you.

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