Of late, cryptocurrencies such as Bitcoin, Litecoin, and Dogecoin, among others have gained popularity. This trend has been steadily increasing ever since the emergence of the COVID-19 pandemic. While a sizable number of young investors are gravitating towards this new and unique investment option, many others are banking on another new option - e-gold. Here’s some information that sheds some light on the gold vs bitcoins dilemma. 

• Trading in cryptocurrency 

Cryptocurrency is basically virtual currency that’s stored digitally in a computer database and is secured using very strong algorithms. Bitcoin was the first ever cryptocurrency to have ever hit the market. And as with almost all financial assets, individuals started buying and selling cryptocurrencies amongst each other. 

This soon turned into full-scale trading, with individuals across borders buying and selling them through the internet just like how forex online trading is carried out. There’s a reason why cryptocurrencies became popular in such a short period of time; it has plenty of advantages. Here’s a quick look at a few of them. 

1. Cryptocurrencies are completely virtual assets with no physical backing. 
2. It is highly volatile and experiences large price movements in a short period of time. This increases the chances of getting high profits; although the risk also tends to be extremely high. 
3. It is highly liquid and can be converted to cash very quickly. 
4. It is very safe and secure. 
5. It comes with low fees and no taxes. 

• Investing in e-gold

Traditionally, investors throughout the world and India have viewed gold as an investment option. This most sought after precious yellow metal has consistently grown in value over the years, making it one of the best investment options for wealth creation. 

However, one of the reasons why many investors shied away from investing in it was the risk that it came with. Since physical gold is prone to theft and can be misplaced, it is crucial to store it safely. And the lack of access to safe and secure storage spaces became a huge disadvantage. 

Here’s where e-gold came into the picture. Also known as digital gold, it gave investors the ability to purchase gold digitally. When you purchase e-gold, an equivalent physical amount of the gold that you purchased is stored on your behalf in fully secure vaults.  This eliminates any and all risks associated with physical gold completely, making it one of the best gold investment plans currently in the market.   

Here’s a brief look at some of the advantages that you get to enjoy by investing in e-gold. 

1. It allows you to purchase gold online from the comfort of your own home.
2. The transactions are completely safe and secure. 
3. It allows you to buy physical gold without the hassle of having to store it safely. 
4. It allows you to diversify and hedge your investment risk. 
5. E-gold enjoys high liquidity and can be bought and sold at any time. 
6. E-gold that you’ve bought and stored in the vaults can be converted to physical gold and shipped to you at any time.  

Conclusion

When it comes to gold vs cryptocurrency, the decision to invest in either of them rests solely with you. If you’re an aggressive investor who doesn’t mind taking risks, cryptocurrencies may be the choice for you. However, if you’re conservative, then investing in e-gold might just be the way forward.

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