Many focus on gold when thinking about precious metals.
Gold is highly desired for its beauty, as well as its use in jewelry and industry, leading many to the metal due to its high spot price.
However, in recent years, there has been a surge to silver as investors with deep pockets understand the metals unique attributes.
Silver is more volatile than gold, which gives investors a better return on investment (or greater losses) once the metal starts to rise in price. Some even argue silver is a better investment than gold due to its robust use in a variety of essential manufacturing processes.
Silver is most commonly bought in bars, coins, and rounds. Stacking silver bullion can get to be a burden if an investor has too much physical bullion at their home. This poses an immense safety and security risk, and the heavy weight of some bars might make organizing a collection to be tricky.
Cryptocurrencies backed by silver, like Silver Coin, have a reserve asset of physical silver bullion. They allow investors to purchase digital currencies and buy, sell, and trade in the crypto market while maintaining the ability to redeem for physical silver at any time.
But is a precious metal-backed stablecoin like SilverCoin more stable than cryptocurrencies?
Is the coin a viable option for someone interested in silver investment? Keep reading to understand why.
Silver-Backed Stablecoins Are More Stable Than CryptoSilverCoin is more stable than traditional cryptocurrencies like Bitcoin and Ethereum that have no reserve asset. These types of coins can theoretically dip to become worthless in the wrong market condition.
Cryptos backed by silver only fall to the spot price of silver – never below.
If the coin proves to be popular, it might even eclipse the spot price of silver bullion. The built-in price floor on silver-backed stablecoins makes their prices highly static, opening up the stablecoin for everyday use as a medium of exc ...
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