Where do you put most or all of your money, crypto or precious metals?

Precious metals have the image of being more stable, with pretty steady gains over the years but nothing dramatic. You aren't going to win the lottery with precious metals, but you will preserve your wealth and might gain some if you play your cards right.

Crypto, on the other hand, has the image of a casino. Pick the right one and become a millionaire overnight. This happens pretty rarely, but the people lucky enough to have gotten into Bitcoin when it was pennies and who became very very rich from it put this image of crypto = wealth in our heads and the myth that it can happen to any of us. Spoilers: while technically it can, the odds are very much against it. That said, you can make steady gains if you play your cards right.

Neither will make you rich unless you are very lucky. But gains are available in each. Higher risk but higher rewards in crypto, and lower risk but lower rewards in precious metals.

But there is another factor to consider. If things collapse, crypto will likely be worthless, while precious metals may help you out. Of course if a world collapse looked more like Mad Max, well, gangs will probably kill you and take your precious metal so it wouldn't do you much good either. But if the collapse isn't so bad, well the precious metals may help you a lot more than crypto would.

Hmm... so which is it?

Most people probably buy a bit of both. I do. I don't buy as much precious metals as I otherwise would due to lack of space, and that right there is the big negative of precious metal: it takes a lot of space. A lot. It is because of that that I put the majority of my money into crypto, specifically Bitcoin and Hive.

How about you?

David LaSpina is an American photographer and translator lost in Japan, trying to capture the beauty of this country one photo at a time and searching for the perfect haiku. He blogs here and at laspina.org. Write him on Twitter or Mastodon.