According to top-level analysts at Germany’s largest investment bank, Deutschebank, investors are now increasingly choosing to hedge against inflation with Bitcoin rather than gold.
This news was broken via Deutsche’s bank own Jim Reid via ZeroHedge, who stated the following - “There seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things(...)”
This is in part due to bitcoin increasing in value by a whopping 144% this year, whereas gold has seen just a 22% spike over the same period. While not insignificant, when compared with BTC, the winner is clear.
According to Reid, another contributing factor has been the breakthrough development of COVID-19 vaccines by pharmaceutical companies Pfizer and Moderna. This sudden development led to the redistribution of money from haven assets such as gold into higher-risk ones.
With precious metals slowly becoming less reliable as value assets, it’s fair to assume that cryptocurrencies such as Bitcoin and Dagcoin will see forward momentum in this area, and continue to leak into mainstream usage as a result.
25 November, 2020 | #Dagblog
Investors now increasingly preferring crypto to hedge against inflation
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Verify Once has been built to solve these issues. We know it can be frustrating to keep verifying your identity with each new company you wish to buy products from or whose services you wish to use. Especially when this process can take many hours or even days, leaving you without the product or service you need - perhaps desperately. The reason why we created Verify Once was to reduce the time and need to go through the verification process with multiple companies online and keep providing the same documentation again and again. This is why Verify Once does exactly as its name indicates. All you have to do is verify once, and you will never have to verify again in the Dagcoin ecosystem. But what do you need to do to verify yourself once and for all, and how long does it take? Getting verified with Verify Once is a quick and easy process that takes just a couple of minutes. All you have to do is enter your personal details, and upload a copy of a valid identity document as well as proof of address. Hit submit and you will receive an answer in just 60 seconds. Once your documents have been verified, they will be connected to the email address you registered on the Verify Once platform. To ensure that you and you alone have access, your account will be password protected. Meaning that only you have access to your verification data, all approved accounts with different companies/websites, and the possibility to apply for verified accounts with new businesses whose products you wish to buy or whose services you wish to use. Verify once - and never go through verification again in the Dagcoin ecosystem with any merchant that accepts VerifyOnce. But it isn’t just individuals that are at risk. Ecommerce, online gaming, and even social media companies are at high risk. 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Verify Once processes and verifies customers, so you don’t have to. Saving you both time and money. At the same time meeting, all necessary Know Your Customer regulations. This is done by using state of the art technology which is fast, secure, automated, and integrated with artificial intelligence. Meaning that as criminals adapt and improve, so will the system. Conclusion Fraud costs both individuals and businesses around the world billions each and every year. This is why governments around the world have introduced various Know Your Customer and Anti Money Laundering Laws. This means as individuals you are often asked to confirm your identity by providing a copy of your ID, driving licence or passport when buying products or applying for services online. Businesses ask for this information not just to meet these regulations, but to keep you safe and prevent revenue losses to fraud. 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