Re:Crypto Exchange AAX Suspends Withdrawals
by awinder on Monday November 14, 2022 @11:31AM
(#33596552)
And gold costs money to store, i.e there’s an interest rate charged to you. It’s value does change though — in positive in negative directions that don’t correlate to inflation or an underlying monetary fundamental. Because it’s not money or a money equivalent.
Usually it covers only limited amount, not full deposit. In US it seems to be generous $250 000 but in other countries it is much lower (e.g. just about $20 000 here).
> gold is practically hard to work with and barely functions as an inflation hedge
And deposit interest rates are often below inflation in developed countries.