Bitcoin: The New Gold For Millennials?
Bitcoin is the new gold for millennials and is here to stay. It has already started a revolution that will inevitably change our world as we know it. The use of digital currencies, including bitcoin, continues to grow, and with this surge in popularity, millennials should expect their investments in the cryptocurrency market to skyrocket. Millennials are expected to be among those who invest in bitcoin more than anyone else due to its useful characteristics such as decentralisation, anonymity, and potential for high returns on investments.
A recent survey conducted by Gallup revealed that millennials were the largest group of people who would invest in bitcoin more than anyone else. The top three reasons why millennials would invest in bitcoin are convenience, immunity to inflation, and high returns. The ease of investing in bitcoin also makes it a great investment vehicle for those who want to diversify their portfolios but do not have the capital to do so. For millennials, bitcoin can be an attractive option as it is easy to buy and store on your phone or computer.
Anonymity is yet another reason why millennials would invest in bitcoin. The anonymity afforded to bitcoin users allows them to buy and sell currencies with the protection of their private information in the digital, distributed ledger known as the blockchain. This ledger is publicly available and offers privacy through encryption that allows users to remain anonymous. The lack of a traditional financial institution such as a bank account or debit card offers further protection as no one can see your transactions on the blockchain.
Bitcoin vs. Gold:
Bitcoin is superior to gold in every way, from being easily transferable to transaction fees costing a fraction of that of the precious metal. Bitcoin can be converted into cash, while gold cannot be directly converted into cash. While physical gold is a tangible asset, bitcoin value is based on supply and demand and is subject to fluctuation. A third reason why millennials would invest in bitcoin over gold is the potential for high returns on investments. Investing in bitcoin does not guarantee a profit, but it does offer the possibility of high returns.
The currency of the future, Bitcoin is already being used as a currency for online transactions, and millennials are slowly transitioning to investing in digital currencies that are more easily accessible and cheaper than gold. If millennials continue to shift from investing in gold to digital currencies, millennials will be changing the world through their investment choices as they become more aware of bitcoin’s capabilities over time.
Gold disappoints as a solution to inflation:
Gold cannot be directly converted to cash, which makes it an impractical means of storing value against inflation. While gold is a good store of value, it does not offer anonymity or the ability to check balances quickly and easily. Bitcoin has outperformed gold in every way and has proven to be an investment with huge potential. Millennial interest in bitcoin is only set to increase as the cryptocurrency market continues to boom, and millennials are among those who will benefit most from investing in digital currencies.
The digital revolution is only just getting started, and digital currencies such as bitcoin are leading the way towards a more convenient financial future for everyone. Transactions through a bank account have become outdated in an era of digital money and ongoing advancements. While the cryptocurrency market is booming, millennials are leading the way and will continue to invest in digital currencies such as bitcoin to invest in the future.
Inflation Helped Bitcoin Replace Gold:
Bitcoin’s value is derived from its total number of coins and is not affected by inflation. Gold has always been used as a hedge against the fiat currencies that we use today, such as the dollar. Gold was the perfect way to store wealth when gold mining was the only form of payment. However, with savings accounts in place, you can now store wealth safely in bitcoin rather than gold. With bitcoin as a digital asset, millennial investors can easily access their investment portfolio at any time through their cell phone or computer. Millennials are able to make investments in bitcoin more easily and conveniently than in gold.
Bitcoin has outperformed gold since its inception and is also an effective means of storing value against inflation. Bitcoin has no correlation to the value of fiat currency and will continue to be an attractive choice for millennials looking forward to investing in the digital revolution rather than purchasing gold, which is outdated as a wealth storage option. Gold is only worth holding as a store of wealth if it is mostly in the ground and therefore can’t be switched out easily. If you’re looking for a place to buy bitcoins, bitcoin prime is the only site that will fit your needs.
Digital currencies such as bitcoin are a more ideal means of storing wealth that is immune to inflation. Millennials are leading the way in younger generations, and they will continue to invest in digital currencies over gold and fiat currency. Millennials have embraced the digital revolution and have begun the transition from gold to bitcoin as their primary method of investment.