Furthermore, the experts’ state there is a significant difference between the two forms of payment. As per Goldman Sachs, gold has been in use for more than 5,000 years. Its durability and portability are some of the characteristics that give it a high value in the money ranking. For this expert, cryptocurrencies have less than a decade in existence.
And for this reason, they cannot fit in the same category with gold. Hence, they are compliments and not competitors or replacements to gold.
b. Security of wealth storage matters
While it’s true that cryptocurrencies are gaining ground fast and also rising in value even beyond the gold worth, they are not a secure form of wealth storage. Even though you can trade with the Bitcoins, their security is wanting. First, there are no custodians to this type of wealth.