How to buy Bitcoin: Crypto currency making a comeback with investors

Ever wondered what $50,000 looks like in cash, gold and silver?

While piles of $100 notes or ingots of silver might make the money hungry salivate, the equivalent value in gold is a paltry #g bar and almost doesn’t seem worth acknowledging.

But spare a thought for those who invest their hard-earned money in an item that delivers even less of a visible return but which has rapidly grown in popularity around the world: Bitcoin.

A $50,000 “piece” of the crypto currency is rendered physically as a mere printout of a QR code on a piece of card. Hardly inspiring stuff.

Yet, the way Australians invest their hard-earned cash seems to be changing. More and more seem to be moving away from traditional financial investments and money options and choosing alternative forms of currency such as Bitcoin – which has undergone a recent surge in value – as well as the classic gold and silver bullion.

Over the past 12 months, according to the Independent Reserve exchange, the use of alternative currencies has grown by 600 per cent and this increase was further cemented when the Federal government recently announced it would place legislation in to remove “double dipping of GST” on Bitcoin.

Brisbane company Ainslie Bullion has just rewritten its 43-year business history to reflect this change and recently became the first in Australia to buy and sell both Bitcoin and bullion.

Ainslie director Paul Engeman said many of his clients chose Bitcoin or bullion because they wanted to diversify their portfolio away from traditional financial investment options.

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Source: How to buy Bitcoin: Crypto currency making a comeback with investors | The Courier-Mail