When is it time to take profits on alternative assets? If you are a gold buyer and you bought at low gold prices, you may be wondering whether to hold, buy more, or sell. There’s no easy answer and it depends on your financial needs and investment strategy. Often gold investors take a very long-term approach. Some may never sell their gold, preferring to keep it to offset risks in their portfolio and ultimately leaving it as part of an inheritance. The long-term outlook on gold is a safe bet, but if you bought at the right time and you have another financial objective, you may want to take the profits. However, it only makes sense to regain your position when prices are down, which could mean missing out on big moves in gold prices.
Investors in cryptocurrencies face the question of whether to take the profits just about every day. The volatility in cryptocurrency means investors wake up to big changes almost every day. They have to decide whether they’re going to hold and risk losing big or taking profits now and missing out.
When some investors who own Bitcoin see the latest prices, it’s always tempting to both cash out and see where the crypto can take them. Learning when to take the profits is essential for investors to succeed. Prices always peak and pull back. You can lose big if you wait too long. If you take the profits, you may “miss out” on some movement ahead, but you’ve still profited. The most effective way to cash out is buying gold and silver here at Silver Gold Bull. Cash won’t appreciate in value, but gold and silver are assets that do. Right now, gold prices are relatively low and stable. You can switch your entire position or just the profits and put them safely away in gold.
One of the most exciting things we’ve done at Silver Gold Bull recently is begun accepting Bitcoin. You no longer need to sell Bitcoin for cash to take the profits. Instead, you can move directly into a stable asset like gold to protect your profits. Bitcoin isn’t the only cryptocurrency accepted at Silver Gold Bull, either. You can also become a gold buyer with Ethereum, Bitcoin Cash, LiteCoin, Ethereum Cash, and Dash.
You don’t want to miss out on future price hikes, but you’re worried about losing all the ground you’ve gained. One of the most effective ways to hold onto your gains is through rebalancing your portfolio. That’s when you take major gains in one asset and recalibrate by transferring wealth into another. For example, if you bought $5,000 worth of Bitcoin that’s now worth $10,000, you can solidify your gains and buy $5,000 worth of gold. When Bitcoin prices drop by half, you’ve protected your gains, but you’re still playing the market for the recovery.
You may know cryptocurrency backward and forward but be totally new to buying gold. It’s easy to learn how to buy gold online with these simple steps:
When you’re just getting started, stick to the most mainstream gold products like the American Gold Eagle or the Canadian Gold Maple Leaf. They offer low premiums for gold bullion and you won’t have any trouble selling them later. Investors love coins from the Royal Canadian Mint because they are popular the world over and have some of the highest gold purities available on the market. Gold coins tend to be the preferred product in Canada and the U.S., but gold bars can offer you lower premiums than nationally-minted coins.
Before you buy gold, always check spot prices and compare them to the price at the dealer. You can always look up the latest gold prices on our gold price charts. Don’t be surprised to find that gold coins and bars cost a little more than spot. These are premiums that pay for minting the coins. Buying gold coins online is a great way to keep premiums lower, as dealers have lower overhead costs than gold brokers with physical locations.
It can be hard to know when to buy gold, but there are a couple of factors that should influence your decision. First there’s the push factor: what’s Bitcoin or whatever cryptocurrency you’re invested in doing. When prices are falling, you may want to get out of the market. Just like with gold, it’s important not to miss out on a recovery. The best time to sell Bitcoin is when prices are up, or at least when prices are higher than what you paid to get into the market. The one risk with cryptocurrency is just how volatile it is, and the odds against recovering its bubble-driven price peaks.
The biggest difference between gold coins and Bitcoin is materiality. You have to ship and store gold coins. It’s not hard to qualify for free shipping from us and we also offer global allocated storage. Gold coins are shipped discretely. The packaging leaves no indication that it contains gold. Shipments are fully insured, and you don’t need to worry about them arriving safely. Allocated storage is also important – it means your gold is placed in a vault separate from others. Unallocated storage with a bank means the bank can lend out your gold, making you an unsecured creditor. If the bank were to become insolvent, your deposit could be at risk.
Cryptocurrencies can be a great investment opportunity to make quick cash. When it comes to the long view, gold is a sure bet. Investing in gold will protect your wealth for decades, even generations to come. Take your wealth seriously. Protect your gains and set yourself up for a long future of financial independence. If you’re looking for a way out of Bitcoin, consider buying gold today.