Gold vs Cryptocurrency: Where you should invest

 Investing in gold is considered the safest form of investment since ancient times.A few years ago, there was an argument among the intellectuals that gold is a “barbaric relic” that no longer holds the monetary qualities but still, the modern economy centers on the fact that it has successfully preserved wealth across generations. Down the line, the concept of investment had changed, and a different form of investment can be found in the contemporary days.

The start of the 21st century saw a new form of investment. The investment in cryptocurrency bursts onto the scene. With the advent of blockchain technology that offers a secure accounting method, the investment in digital currencies gained its popularity in the world. And the combination of crypto mania and record gold prices gave rise to a new era of gold-backed digital currencies.Gold cryptocurrency is basically a gold-backedcryptocurrency, which is a type of crypto stable coin where each token is backed with physical gold. The concept of Gold Cryptocurrency is as old as the internet. With the widespread of the internet in the mid-90s, E-Gold emerged too. And that is considered the first digital currency in the world backed by gold entirely.Though any kind of tangible asset can be used as backing for a cryptocurrency, gold is considered to be the most obvious choice after fiat currency.

Cryptocurrencyis digital currency backed by blockchain technology, whichensures a safe and secure transaction among its users. Hence, investing in gold-backed cryptocurrency has two dimensions. It offers a both-way investment in cryptocurrency as well as in gold.Thus, it can be said that a gold rush is happening in the crypto world with numerous variations of gold-backed tokens. Across the globe, there have been more than 100 gold-backed cryptocurrency projects that have been launched in the past years but unfortunately, all of them were not successful due to a number of reasons. Despite this, many crypto enthusiasts find it as one of the best investment options.

The fundamental concept behind this is a token or coin is issued that represents a value of gold and the gram of gold must be stored by a trusted custodian where preference is given to the third-party entities, and can be traded with other coin holders. Usually, the price of the coins or tokens will always equal the current gold rate. The increase in popularity of the cryptocurrency will increase the price of coins or tokens which may be greater than the value of gold. And in case the cryptocurrency does not take off, the value remains the same as the value of the gram of gold.

At this moment, this gold-backed cryptocurrency market is still in the nascent stages of establishing amongst widely known brand names in the crypto sphere.Like most altcoins in the crypto world, gold-backed cryptocurrencies are not globally listed on every exchange.In the last year, there are about 80 tokens that are available or are in development in the crypto sphere.

All you need to do is find an appropriate platform. A correct platform will make your transactions smooth and convenient to use. This is where Bitkiox, world's first live trading platform where investors can watch their investments in cryptocurrencies growing live right before their eyes, comes in.

Bitkiox brings innovative crypto trade tools at your fingertips! The right investment decisions in the cryptocurrency market can make you rich. Here, you can choose from a curatedselection of investment packages. BitkioxAutobots will continuously work on increasing the value of your portfolio by capitalizing on fluctuations in the cryptocurrencymarket, while you can track your investments grow live on the website.