Buying a new car sounds so much better than having to invest in something? For the long run, both are beneficial but people are mostly swayed away with what one gets now! A car would take you to places you want to go. While investment in bitcoin is the ultimate passive income and can increase the value of gains so you could probably get more cars?! However, there are ample reasons to defend both options.
Choosing car over investing in Bitcoin:
If one is particularly in need of car then for obvious reasons nothing should be a hurdle to make that wait. You wouldn’t have to wait long hours for public transport and travel in all that pollution. Traveling in ac is, of course, a luxurious comfort! To top it all off, a car can be a great asset during emergencies. Purchasing a car could be reliable, safe, efficient, convenient and, of course, people also buy it for social status.
Choosing investing in Bitcoin over Car:
Bitcoin can be an amazing source of passive income. It is one of the first and the topmost cryptocurrency. In 2017, bitcoin had a blasting year rewarding 1,350 percent of return and lead to the figure of $20,000. Ever since bitcoin received the unexpected and uncalled for recognition. Its adoption has been growing gradually across the globe. Bitcoin is developing and innovating with time, it is not static by nature. Also, it is diversified with its rewarding strategy. A lot of people are keen on the prospect that bitcoin has brought.
However, like any other investment, bitcoin is risky too. Being volatile, many countries are still working towards the acceptance or ignorance of its theory.
Also read, Will Bitcoin Ever Replace Fiat?
Yet the age of bitcoin is still in the vicinity and the only investment procrastinated time would be today!
So, is it the new car or investment in Bitcoins?
Both the things are not going to be sufficient with the initial money that is utilized. It will keep rolling with time and may have the chance to pile up later.
A car requires gas filling, taxes, insurance, maintenance and so forth.
While in bitcoin, if the market heads south then a lot of traders seize the strategy called Cost Averaging Down, they keep buying bitcoins at lower prices to pull down the average investment amount of their holding. It is one of the full proof strategies, however, it would need additional funds to be invested in this volatile market.
So be it buying a car or investing in bitcoins, it is a matter of an in-detail study and research as per the availability, preference, and requirement because there is a risk in everything!
As quoted by Benjamin Franklin, “An investment in knowledge pays the best interest.”
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