As Christmas and the New Year approaches, pour yourself a glass of Bailey’s (or perhaps something more expensive if you’re one of this year’s crypto winners) and look back at some of the winners and losers of 2021.
Until now, revenue amassed from the trading or investment in gold was speculative and subject to market fluctuations. Kinesis offers a competitive alternative, with a yield-sharing model that allows participants to increase their holdings of gold and silver, by paying a yield of 15% of overall transaction costs back to them each month.
Usually, we would expect increased inflation to drive up the price of gold. Gold is, after all, traditionally considered to be a hedge against inflation.
There are real fears that these added costs may be passed onto consumers before long. But central banks all seem incredibly reluctant to raise interest rates. This decision is hitting both consumers and savers hard.
Glint adds that this landmark demonstrates the huge consumer appetite for alternative currencies such as gold and cryptocurrencies, including Bitcoin. The value of total transactions processed by Glint has jumped 16% in three months, from $215.5m at the end of March to over $250m.
Glint has enjoyed rapid growth over the last six months, with a 32% increase in new clients looking to spend and save gold – hitting 82,900 clients in June, up from 62,900 at the start of the year.
Alternative currencies are soaring in popularity as Glint, the global gold-based payments system that allows clients to securely save, send and spend multiple currencies including real gold, has announced a new simultaneous crowdfunding round in both the UK and the US.
‘Real’ assets such as gold, infrastructure and property provide some protection against inflation and, in the case of gold, also some protection against big risk-off moves.
What’s interesting is that gold prices have continued to struggle even as the US Dollar falls back, with risk appetite continuing to surge as the demand for safe-haven assets and secure stores of wealth declines.
Back in March 2020, Revolut introduced its customers to a brand-new service, letting them invest their money into two particular commodities – Silver and Gold. However, their service is still missing functionalities. For instance, digital transfers of Gold to someone. With it being easier to send crypto over precious metals, the challenger bank might be popularizing the idea that crypto is more user-friendly.
Once easyJet’s fleet was off the ground again there was a moment of: “are easyJet shares ready for take off?”, often followed by a “forget easyJet’s share price, I’d buy these stocks instead”. And like easyJet, society has also stumbled from one lockdown to another in the COVID reality of 2020, never knowing if we can take that flight to Spain, or, not.
For instance in August, Gold shot up above 2000 USD per ounce (an all-time high), but then it dropped on the news of the Cure for Covid. Either way Gold is up from the 1200 USD per ounce it was worth in 2018 and it continues to be the safe haven currency of choice for many people.
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