Why Bitcoin is better than gold:There is also debate as to whether gold will lose its shine against the lightning race of bitcoins. Here’s how Bitcoin is more profitable against gold.
Both precious metal gold and bitcoins, which are in huge demand in the crypto sector, are out of government control. Similarly, gold and cryptocurrency are both limited assets. This is why the prices of both these assets are the highest. Thus the price of these will be determined based on demand and supply.
Why Bitcoin is better than gold
There is currently no regulation for cryptocurrencies in India. There is also uncertainty in their prices. Despite this, crypto currencies continue to generate the highest returns. There is also debate as to whether gold will lose its shine against the lightning race of bitcoins.
Speaking of similarities between gold and cryptocurrency; Manoj Dalmiya, Founder and Director of Proaasetz Exchange,
Cryptocurrency, like gold, is also a limited available wealth. But, cryptocurrencies are a digital asset. This is because Bitcoin is never released above the specified limit. Bitcoin is the only gold demand in terms of scarcity.
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Gold and cryptocurrencies are different than fiat (physical) money. Currency can be deposited in banks. But, it is controlled by the government. Money depreciation also happens when inflation occurs. However, bitcoins and gold are both independent of the government. ”
Vince Gupta, founder and director of Nonceblox Blockchain Studio, explains how cryptocurrencies can be substituted for gold in the asset category. “Gold has been an investment asset for a long time, but gold can be stolen, so it needs to be managed with security. But gold is one of the few reliable investments. “Cryptocurrencies are going to be the most lucrative asset on Earth and Mars.”
According to Vishyu Gupta, cryptocurrencies have generated an average return of 408 per cent over the last one year. However, depositing traditional currencies yields 5-7% of annual returns.
Manoj Dalmiya of the ProSetz Exchange lists four key points on how Bitcoin is more profitable against gold.
Bitcoin is rare. That is, it is not created as it came to mind. There are over 21 million cryptocurrencies available. These cannot be created by anyone beyond the specified limits. This means that no government can regulate or copy it. Similarly, gold cannot be made artificially. However, the shortage of gold continues to change. The gold supply is determined based on the availability and production of gold.
Bitcoin can be broken down into smaller units
(Why Bitcoin is better than gold)Hard to copy
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