How to Pivot Investments: Selling Gold and Jewellery to Invest in Crypto
Investors are always looking for new opportunities to turn their hard-earned money into more. When they see stock prices fall, they see a chance for a rebound. When they see markets crash, they don’t panic. They take a step back, analyze the situation, and if they see an opportunity to turn a setback into a fortune, they step into buy mode.
It’s the secret of all successful investing: buy low, sell high. Unfortunately, it’s also human nature to do the exact opposite. Too many investors sell stocks at a discount because they’re losing too much money, and too many wait for prices to rise too high before buying an asset.
Is Now a Good Time to Buy Cryptocurrencies?
That’s been the story behind cryptocurrencies over the last month. A lot of buyers started to invest during the peak of the cryptocurrency rush, as huge advertising campaigns hit the airwaves playing into people’s fears of “missing out.”
When the industry hit a free fall, a lot of those late investors got burned, while early investors had already adjusted their positions. Those who got into the market early enough still wound up looking at prices that would deliver a hefty profit.
The crypto crash does not mean the end of cryptocurrencies as a technology. There are still a lot of promising new blockchain technologies, and as calls for regulation increase, there are good chances that the crypto market will start to feel a lot less like the wild west in the near future. On top of that, the cryptocurrency market is still worth around $450 billion, even after shedding three-quarters of its value.
In other words, if you believe in the future of cryptocurrency, there has never been a smarter time to buy.
Free Up Funds Selling Gold and Jewellery
Precious metals, including gold and silver, are both assets that provide stability but don’t generate interest or dividends. That makes them prime candidates for sale when you want to raise some capital. It is much smarter to sell silver and gold if you have it than it is to borrow money to invest.
To get the best prices on precious metals, try bullion and jewelry buyers like Muzeum that provide in-person and mail-in evaluations of what you have to sell. When you can trust the buyer, it makes the whole process that much simpler, faster, and straightforward.
Why Pivot from Gold to Crypto Now?
One of the best ways to invest in a new asset if you’re short on capital is to cash in on an asset that’s earned you a profit and may be headed downward in value. Again, buy low, sell high. It can be tempting to wait and see if prices keep going up, but markets are always cyclical.
Meanwhile, gold prices have been consistently strong thanks to high inflation and concerns about the global economy through the pandemic. Inflationary practices that kept pumping money into the global economy during lockdowns, as well as labour shortages and supply chain problems, helped spark the current inflation issue.
If you’ve been thinking about including cryptocurrency in your portfolio and you need to raise the money somewhere, selling gold bullion or even gold jewellry can be a great way to raise it.
It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news writer, it feels good to be part of the team. Besides that, I am building a finance-based blog, working as a freelance content writer/blogger, and a video editor.