Bitcoin vs Gold: Why buy digital coins this festive season

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Bitcoin vs Gold: Why buy digital coins this festive season

Bitcoin vs Gold debate is getting more heated by the day. Many investors have proven track records that endorse Bitcoin as a hedge against inflati

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Bitcoin vs Gold debate is getting more heated by the day. Many investors have proven track records that endorse Bitcoin as a hedge against inflation and its value.

Steve Wozniak, Apple co-founder, is the strongest endorsement of Bitcoin being an anti-fiat asset that is immune to inflation. Wozniak recognized the cryptocurrency’s potential and called Bitcoin the most “amazing mathematical wonder” better than gold.

Let’s take a look at the reasons why Bitcoin and other cryptocurrencies are more profitable than gold this festival season.

Bitcoin can be bought and sold online from your own home.

It is a future currency and early adopters will benefit.

Cryptocurrencies can be regulated without any restrictions, and are therefore truly global.

It’s peer-2-peer and transparent. There are very few chances of theft.

Additionally, Bitcoin has appreciated 400% over the past year compared to gold’s 31%.

What has happened to the crypto community in the last year?

Covid-19 was a time when cryptocurrencies (including Bitcoin) were in business. They effectively served people who weren’t part of the traditional banking system. Bitcoin can be used as a means of payment or remittances.

Cryptocurrencies have been a reliable and stable payment option in many areas of the world, where political and economic instability has caused inflation to soar.

What else should you know about Bitcoins?

Bitcoin is a hot topic right now, and for good reason. Before you decide to invest in Bitcoin, here are some things you need to know.

Bitcoin investments are like all investments.

Virtual coins like Bitcoin are not subject to regulation.

Many governments are cautious about crypto-assets.

You will need to be computer-literate in order to buy and sell Bitcoins.

It has been observed that Indians tend to spend more during festive seasons. A separate budget is also set aside for assets like gold investments.

Globally, cryptocurrency investors have paid more attention to Ether and Bitcoin than they did gold. India is a country where cryptocurrencies are gaining popularity.

Many Indians are now investing in crypto assets, rather than mutual funds, equities or gold, due to the attractive returns that new crypto coins offer. Many people will choose to buy Bitcoins over gold when crypto assets rise again this festival season. Bitcoin has broken $50,000.