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by ptero 1502 days ago
It seems to me that some gold coins would work even better in this situation (for longer term savings, not something you move in and out every month). Did you consider this? An honest question.
3 comments

Got some in the family. But as a person who is interested in technology and a developer, I'm finding crypto more fascinating.

Long-term stability wise I think crypto will outperform gold anyway.

As a smart contract developer who knows a bit about the inner workings of crypto, I picked it.

But frankly yes gold would also be a good option. It has its own risks but safer than my country's currency for sure.

its harder to send/receive, harder to verify authenticity, and harder to store gold coins compared to any crypto asset
Where can I download gold coins?
You can buy small quantities of coins off dealers for a very modest spread plus the cost of insured postage. I have a few sovereigns at the back of a drawer from the 2008 crisis which have basically held their value. There's no magic to it, it's just a nice shiny object.

Converting back to cash at a reasonable rate is probably a lot harder.

(UK note: new gold is subject to VAT. Buy used.)

You compare the convenience of a download against having an asset with a few millenia of history in your physical possession (which is not without its own risks) and pick your poison.
Try passing through border control on such countries while packing gold or expensive gold accessories.
Gold is one of the easiest things to smuggle: it is compact and can be easily melted, painted over, made to look like a cheap tourist souvenir, mixed with other components, etc. and then recovered at the destination.

That does not mean that it is trivial to smuggle gold out, but if you need to do so, the chance of success is pretty high. Much higher than smuggling out fiat money held in a government-regulated account during capital controls. My 2c.