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Making Money From Money: Alternatives To Forex
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You can make a lot of money by trading foreign currencies. However, forex isn’t the only way of investing in money itself. From crypto to old coins, there are lots of other options for those that want to diversify their portfolio.
Cryptocurrency
Crypto has become huge in the last decade. It’s made up of digital currencies such as Bitcoin and Ethereum. Just like foreign currencies, cryptocurrencies fluctuate in value - however their rises and fall are much more dramatic, as well as being a lot harder to predict. It’s a much riskier form of investing than forex, however the potential returns are huge if you do manage to invest in the right cryptocurrency at the right time (your money could multiply in value by hundreds).
To get involved in cryptocurrency, you open a brokerage account that will then allow you to purchase cryptocurrency from sellers. It’s worth doing your research to find the brokerage with the best rates. Make sure to keep your crypto secure somewhere - many people use a digital wallet.
Gold coins
Gold coins are produced by world famous mints and can often gain a lot of value over time. While the price of gold may fluctuate from year to year, gold will always increase in value as the metal becomes rarer, making it a secure long-term investment.
You can buy gold coins at exchanges such as gsiexchange.com/. It’s important to buy from a trusted seller and to get a good price. After this, you should consider a secure place to keep your gold coins. This could be in a safe at your home, a bank’s safe or third-party storage unit.
Rare notes
Certain physical banknotes in certain currencies can be very valuable if they have a specific serial number. There are also banknote misprints, which can also be valuable. A few examples of valuable dollar notes can be found here at this guide wellkeptwallet.com.
Some investors come across these notes simply by finding them in their wallets. Alternatively, you may be able to find people selling notes online at a lower value than you think they’re worth. There is often a lot of hype when a new set of notes is first released, so this could be a good time to invest.
Old coins
Coins that are no longer in circulation can also gain value. This is particularly the case with very old coins, which are treated much like antiques - a whole set of coins that have been kept in good condition can be worth a lot.
You can buy old coins in antique shops and online. Some people are lucky enough to inherit old coins or uncover them with a metal detector by searching around historical sites. It’s worth authenticating the coin so that you know it’s the real thing (there are lots of fake old coins out there). By educating yourself, you can gain an understanding as to which old coins are worth the most.
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