Should I Invest in Bitcoin as Part of my Financial Plan? Complete an Expat Pension and Financial Review in Time for Brexit
More and more people are becoming concerned about the future of currency and currency investments. Foreign exchange rates are always on the move, and you never know what the future is for any currency these days. One minute the US Dollar is shaky, and the next minute, Sterling is on its way down again. So many factors influence the value of foreign currency, and the Brexit process taking place in the UK, is having a huge impact on Sterling.
Brexit and Value of Sterling
The outcome of Brexit, could have an effect on both long term and short term investments. If you are holding your investments in foreign currency options, you will almost certainly see some sort of effect on the value of your investments. Predicting the future for currency investments, is becoming more challenging by the day, and even some so called financial masterminds do not seem to be too sure what effect a no deal will have on Sterling.
The likelihood is that foreign exchange value of Sterling, will fall even further if there is no deal with Brussels. If you are a British expat living abroad, that could have a serious impact on your pension and any regular currency transfers to the country you are living in.
Bitcoin and Crypto Currencies
Now could be a good time to review your investment options, and maybe even switch away from some of those traditional ways of investing. Bitcoin is not the only crypto currrency out there, but it is the one which most investors seem to be talking about. At the moment, even UK banking regulators are taking a look at Bitcoin, and some of the other crypto currency out there. It looks like it will not be long before crypto currencies go mainstream, and by then, they may even end up being out of many investors reach. After all, cryptocurrencies such as Bitcoin and Ethereum, are increasing in value on a daily basis.
Bitcoin – World Currency of the Future
However, you should be careful before you make any investments in Bitcoin and other crypto currencies. It is possible some investors like Tim Draper will make a killing out of their Bitcoin investments, but you need to ask yourself if Bitcoin, is the right investment vehicle for you. At the end of the day, there is very little regulation surrounding Bitcoin, and even though many claim, it is going to become a world currency in the future, that day is still a long way of on the financial horizon.
Thinking Out Of the Box, and Making Up Your Own Investment Portfolio
If you would like to invest in something a little bit out of the box, perhaps you should start to consider investing in precious metals and stones instead. So far, you can truly say that the value of gold and precious stones has never really fallen. Of course, you need to know where to buy gold, and investing in gold online, may not be the best option. Buying gold can be a much better option.
Tips for Investing in Gold
Frequent cruisers are only too aware of benefits of investing in gold. There is a good reason why you see yards and yards of gold chain sold on cruise ships. First of all, you avoid paying VAT and duty, and number two, the more you buy, the better rate you will get from the vendor. Stick a clasp on, and it is likely you will bring that gold back home, without having paid any taxes on it all. In that case, your investment has already gone up at least 20%.
Holding your investmen physical gold is a valid investment option for many. Of course, you will get charged in US dollars when you shop for gold on board a cruise ship. Watching your exchange rate is vital. It is a good idea to have a prepaid debit card to hand to pay for your cruise ship investment at the end of the cruise. If you have a prepaid debit card, you will already have locked in an agreed exchange rate.
The truth is that you can do very well if you are brave enough to be your own investment adviser. Expat investment advice can be pretty fluid, and even risky at times. Learn from some of the top investors in the world, and start trusting you gut instinct.