This Is Why You Should Not Invest In Cryptocurrencies

This contributed post is for informational purposes only. Please consult a business, financial and legal professional before making any decisions. We may earn money or products from the affiliate links in this post.

you should not invest in cryptocurrencies

Cryptocurrencies like Bitcoin and Ethereum have taken the world by storm. Last year proved that these assets had a lot of potential for profit, but the sudden drop in value in January also showed just how volatile cryptocurrencies can be.

Amidst the hype many investors have forgotten that real money can be just as valuable an investment. It’s less volatile and its physical, which makes it more tangible than the likes of bitcoin. Here are three examples of physical money and why it could be more fun and rewarding to invest in.

Foreign currencies

Trading foreign currencies is commonly known as Forex trading and can be a great investment. Different currencies are all worth different values – these values are constantly changing and influencing one another. It’s possible to buy a currency that is rising in value and to then sell it for a profit. You can predict the rise and fall of currencies by researching world news and staying up to date with political events. That isn’t to say that there aren’t occasionally surprises as is the case with many recent election results – there’s still a risk, but it’s not as random as it is with cryptocurrencies.

Forex brokers can help you to exchange your currency – they charge a small exchange fee for their service which can vary from broker to broker. Modern technology is helping to make it easier to monitor foreign currency values and there are now many online brokers that supply up to the minute metrics on currency values for your benefit. There are lots of online trading platforms out there, which you can read more about on the web. Different trading platforms can allow you to trade different amounts – whilst some have high minimum investments, there are many platforms that allow you to start dealing Forex with as little as $100.

Old currencies

If you’ve got a love of history and antiques, you could consider entering the world of coin collecting. This involves collecting historic coins from around the world. Whilst no longer in circulation, these coins have become a treasured collectible that is easier to predict in value than many other assets.

Many people get into coin collecting as a hobby, but it can also be a means of investment. Many people have got lucky and found old coins inherited from their grandparents in their attics which they’ve been able to sell to coin collecting enthusiasts for a huge price. Others make it their job of attending coin shows, trawling antique stores and taking part in online auctions in search of rare coins that they can buy and sell for a profit.

Coin collecting does require a lot of know-how, but you can get help from professionals. In fact, it’s useful to have a professional opinion when buying many coins – these professionals may be able to authenticate the coin for you to ensure that it’s not a fake. There are also plenty of books and blogs dedicated to coin collecting.

Rare notes

It’s possible you may have a five dollar note in your wallet that’s actually worth a hundred dollars. How? Certain serial numbers on notes have attracted attention from collectors and have made them a valuable asset that’s worth more than the actual note. Finding a note with a rare serial number isn’t easy and may come down to luck, unless you’re willing to buy one of these notes online and try and then sell it for a profit. There are many guides to rare serial numbers online. Foreign currencies may also have serial numbers that are equally collectible within their home country.