Also, check out the 5 reasons why you should opt for Bitcoin digital gold over physical gold.
Mobility
Can you carry all your savings in gold and roam around without risking it getting lost/stolen? No, but can you keep your bitcoins 24/7 with you and not worry about anyone stealing it? Absolutely! Gold has a physical presence and is pretty difficult to transfer from one place to the other. On the other hand, Bitcoin, being the virtual currency and store of value that it is, can be transferred from one country to the other in seconds, without having to go through layers of privacy-invading customs.
Immutability
Blockchain being an immutable ledger gives Bitcoin the security of immutability. The distributed network of modes ensures the reliability and efficiency of the network as they validate transactions and maintain a transparent public historical ledger.
When it comes to gold, it lacks reliability in terms of its originality and true value. Billions of dollars worth of gold that are circulated are counterfeit gold bars and have been existing as gold until discovered.
Privacy
Bitcoin’s technology is built on the pillars of cryptography which ensures privacy and security while being transparent and anonymous at the same time. Bitcoin keeps your transaction details as safe as it needs to be while still keeping it transparent. NGOs, activists, and social causes supported by the general public can receive donations anonymously without having to go through layers of privacy-invading processes; all via Bitcoin.
Liquidity
Bitcoin being the king of cryptocurrencies gives out the flexibility to be converted into hundreds and possibly thousands of cryptocurrencies within seconds while physical gold has extremely low liquidity when compared to Bitcoin. It needs to be physically sold at a store for immediate liquidity which again depends on the availability of the buyer.
Next-gen currency
Bitcoin and cryptocurrencies are the next generation forms of currencies. The virtual currency holds the capability to disrupt the centuries-long concept of physical money. The decentralized ecosystem allows you to be the owner of your own wealth without having to rely on centralized financial systems. The world is rapidly changing and the only thing that can keep up with the ever-changing requirements of the global economy is a global currency i.e. Bitcoin.
If you bought 1 BTC last Diwali at the trading price of $8660, its value would have been $13,000 today. And if you bought 1 BTC 5 years ago, at its trading price of $283, you would’ve made a 4500% profit today.
It’s time we rethink, reiterate, and realize.
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