In just a few years, Black Friday has evolved from a gimmick used by American retailers to drive pre-Christmas season sales to a global shopping event that people look forward to all year.
With the global pandemic's significant financial impact, many people are in greater need than ever. They'll want to upgrade to a newer TV with a few more pixels, or the latest iPhone – even if it's nearly impossible to tell it apart from the previous model.
In this article, we'd like to present a harsh reality. Let's get right to the point: no matter how good a deal you find this Black Friday, investing your money is always a better option. Sure, nothing beats the rush of irresponsible retail therapy, but let's look at some numbers that may put Black Friday spending into perspective.
The unvarnished truth about must-haves
Isn't it true that we communicate with the rest of the world through our phones these days? Spending money on something you use all the time seems like a no-brainer, right? Having the most recent smartphone is considered a status symbol. It demonstrates to others that you mean business, right?
Marketers have done an excellent job of convincing us that we must have the latest and greatest of everything or risk falling behind. That it's worth going into debt to avoid missing out on a great deal. The graph below compares the value of a new iPhone, one of the most popular Black Friday items, to the equivalent value invested in Bitcoin over time.
If you don't break, drown, or otherwise damage the iPhone 8 you bought in 2017 for R19 999, you'll be lucky to get R6 499 for it on the secondary market in 2021. That's a 67.5 percent drop in three years.
No one can blame you for feeling a little dizzy when you learn that if you bought a Bitcoin, which was only R12 000 when you bought that iPhone, that investment is now worth nearly R1 million. A staggering increase in the value of your initial investment of 7 733 percent. To put it another way, if you spent R19,999 on Bitcoin instead of an iPhone 8 in 2017, you could buy 92 new iPhone 13s today.
Even the most enticing Black Friday deal can't compete with the impact that investing in Bitcoin could have on your net worth and lifestyle.
Anyway, I prefer Android.
Perhaps you prefer reading a book to watching movies on your new 4K television. Perhaps your Nokia from the 1990s has all the features you require in a cellphone. Perhaps you don't want to spend money on such frills and would rather put it into time-tested, "responsible" investments, such as a house.
While that mindset is unquestionably more financially savvy, the world of cryptocurrency has raised the bar far beyond what traditional investments can compete with.
While real estate is still touted as the safest investment that anyone who isn't an investment banker can make, its returns in comparison to Bitcoin show otherwise. Based on the South African Housing Index's average appreciation, a house purchased in 2010 for R1 million is now worth R1.5 million. That's not bad!
Until you realize that the equivalent investment in Bitcoin is now worth 1,011 times the initial investment. In other words, if you had instead invested your R1 million in Bitcoin, you would now have enough money to start a real estate empire by purchasing 1011 houses worth R1.5 million.
Purchase assets rather than objects.
We all need a place to live, and in today's world, getting by without a smartphone is unnecessarily difficult. So, while we're not suggesting you never buy these things, consider how much more your money could do for you this Black Friday before you let retailers convince you that a new kitchen blender at 50% off will literally change your life.
The good news is that Revix, a crypto investment platform based in Cape Town, is running a promotion specifically designed to kickstart your crypto investment journey this Black November.
Between November 19th and November 30th, Revix users receive a 100% discount on all buy-in fees on all assets available on the platform. You can invest in Bitcoin, Ethereum, and Solana, but Revix also provides innovative Crypto Bundles.
These are essentially instant diversified crypto portfolios, created specifically for investors who don't have the time to keep up with the crypto market but still want to be exposed to it.
There is still time to be an early investor in blockchain technologies that are reshaping the world as we know it. This is your chance to remember Black Friday 2021 as the year you improved your financial situation.
Register at www.revix.com to put your money to work this Black Friday
UpdatedDaily
Taking this concept. I think this would be a great idea. Although instead of BTC, let's apply it to BCH and I am sure that 2-3 years from now, BCH is already thousand in value.