Millennials And Gold

There has been a lot of talk about Bitcoin being the new gold. It has even got to the point of campaigns such as #dropgold being launched on social media. These detractors of gold would have people believe that gold has no use. Bitcoin can never be gold and its value cannot be compared to that of the precious metal. The reasons for this would include the fact that   gold has always been a valuable commodity dating back millennia. It has always been coveted by different people across many cultures and valued across the globe. Gold is not only mined for monetary gain but for its many uses in industry, medicine and other technological advances. Gold is an actual physical commodity and Bitcoin is not. Whilst there is a lot of good that can be said about cryptocurrencies there are more Brisbane gold brokerswith years of experience dealing in gold than there are Bitcoin traders who really only started to exist after 2010.

The marketing of Bitcoin is attractive. In the world of cryptocurrency trading most people expect millionaires to be made everyday. Most people don’t understand Bitcoin or cryptocurrency and they are less likely to trust an intangible asset that only exists in digital form. The cryptocurrency market is very volatile and investors are weary of putting their money in something that fluctuates as much as Bitcoin does. Cryptocurrencies have yet to prove that they have the kind of staying power that gold has.

Millennials love convenience and everything digital. They are easily persuaded. Pure veteran investors of gold might find it hard to trust in an ephemeral digital currencyhowever the convenience of investing anytime and anyplace that has an internet connection is something that everyone appreciates. Gold can never be obsolete and it would be pretty hard for millennials to put an end to the role that gold has played in societies for over 4,000 years.

Selling gold to Brisbane gold brokers is not as mysterious as investing in cryptocurrencies or the so-called digital gold. We have come a long way and have more options when it comes to who we can sell our old gold to. As technology evolved so has the business of gold buying. A lot of pawn brokers are using the internet to buy and sell their gold. They too have a choice of whether to keep things old school and set up brick-and-mortar shops, or run virtual stores.

A lot of economic analysts believe that in order to win millennials over to gold, they need to be able to see and understand the tangible value of gold. Strangely enough, most millennials are more inclined to believe in the intangible truth. It’s not that they don’t get the value of gold in relation to fiat currencies. They do, which is why many spend hours in games where the currency is gold. Most in-game currencies are gold. The biggest irony of all is that Bitcoin itself is commonly depicted as a gold coin. If you own gold you know there are Brisbane gold brokers who are just waiting to give you the quick cash you need instantly cashing out your Bitcoins through a broker exchange takes at least 1 day or 5 working days. You cannot rely on your Bitcoins in emergency situations but you can walk into a gold dealer’s shop or a pawn shop and walk out with the money you need

Louise Author