March 28, 2024

Bitcoin beats gold as a safe asset

Bitcoin beats gold as a safe asset

Over the past six months, the price of gold has fallen by more than 10%, and many investors have stopped considering thisan asset as an instrument for hedging risks.

In parallel, another trend is observed wheninvestors are entering the crypto sphere en masse, Russ Kasterich, who manages the BlackRock Global Allocation Fund portfolio, told Bloomberg. Bitcoin is becoming an increasingly popular instrument.

Cryptocurrency is clearly winning the battle with gold, which has been viewed as the safest asset for centuries.

According to the top manager of the investment company, the surgeinterest in digital currency occurred amid the coronavirus pandemic, which has reduced the mobility of the global economy. In addition, the authorities of many states began to print money to support the population and business.

This monetary policy of central banks has increased inflationary risks and forced retail and corporate investors to seek an independent asset that will protect their capital.

Gold also rose in price initially. In the summer of 2020, a troy ounce of this precious metal jumped above $ 2,100. However, then the price began to decline, and now this product is traded at around $ 1,700.

According to Kasterich's forecasts, investments in bitcoin will continue to grow in 2021 if inflation suddenly soars above regulators' expectations.

Note that many experts, on the contrary,consider gold to be a much more reliable asset compared to Bitcoin. Peter Schiff periodically urges investors not to buy cryptocurrency, but to invest in the precious metal. However, Peter Schiff's son, Spencer Schiff, despite his father's advice, decided to transfer all his funds to Bitcoin.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Bybit https://bybit.com 7.5
3 OKEx https://okex.com 7.1
4 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
  • Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
  • Feedback and support– we analyze user reviews and the quality of technical support.
  • Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform Features– availability of additional features — futures, options, staking, etc.
  • final grade– the average number of points for all indicators determines the place in the ranking.

Bitcoin beats gold as a safe asset

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