Gold is one of those investment options that has stood the test of time. Throughout history, people have often purchased it. With the inception of cryptocurrencies and crypto exchanges, we now have a new and improved way to purchase gold and other metals. Let’s look at exactly how you can buy gold with Bitcoin.
Why could Purchasing Gold be a Sound Investment?
Why gold? Stocks and shares, as alternatives, are unpredictable – you can take huge losses if stocks suddenly plummet. Current interest rates are low and an ISA will not provide much profit, whereas gold has always been a solid investment option. What also influences the situation is a limited supply of gold. It means that it is always in demand and its price should never fall.
Due to these factors, gold is usually considered a profitable investment. It is not something that you can make huge sums of money from quickly. It is, however, a sound investment for your future – if you purchase gold now, the price could rise astronomically in 10 years.
How Can You Purchase Gold Using Bitcoin?
If you have some cryptocurrencies, particularly Bitcoin, it is quite easy and convenient to use them for buying gold. By doing so, you could offset some of the potential losses you could incur when investing in cryptocurrencies.
Buying precious metals with BTC has its benefits. Cryptocurrencies, in general, present a more convenient way of performing payments with rather low processing fees. But it also has some pitfalls: as Bitcoin isn’t regulated by governments, services that offer payment method via Bitcoin, can’t guarantee the highest level of protection for your purchase.
There is a myriad of different platforms, merchants and exchanges that allow you to purchase gold using Bitcoin. These platforms work much in the same way that standard exchanges do: you can simply pay using Bitcoin instead of fiat currencies. Below, we have listed four top websites that offer gold (and other commodities) and accept Bitcoin:
Bitgild is a high-quality merchant that sells a wide range of precious metals, including gold, silver, and platinum. This company has been operating for a number of years and has a solid stock of metals available to purchase. Bitgild is a licensed service which has partnered with both BitPay and BitScan – these are two well-known Bitcoin payment systems that help facilitate purchases.
On Bitgild, you can purchase gold and silver coins or bars. There is a superb range of rare coins available, including a Sovereign Royal Canadian Mint coin from 1908, and a 1 oz China Panda coin from 1986. The website is easy-to-use, as well as the payment process. The gold and silver can be shipped worldwide, with deliveries being fully insured and fees being minimal in comparison to the item prices.
2. Bullion Exchanges
Bullion Exchanges are ones of the most popular platforms in the world for trading gold and silver. These websites have a plethora of useful information, charts, and graphs coupled together with live pricing data. In terms of payments and processing, Bitcoin can be accepted on some bullion exchanges.
Coins are found from a variety of different mints, including the ones from the UK, China, the US, and Canada. For example, you can purchase a 1 oz Gold American Buffalo $50 Coin or a Silver Canadian Maple Leaf coin.
Vaultoro is another fantastic and reputable precious metal merchant. This company specializes in wealth management in relation to precious metals. Their management team is bursting with experience in both stock market and cryptocurrency industries.
On Vaultoro, you can purchase gold using Bitcoin: in fact, this service accepts such payments exclusively. You can also make use of their vault storage to ensure that your precious metal investment remains secure. Their vaults are operated in Switzerland and their gold is purchased directly from smelting companies.
The tagline of this company is ‘Turn Bitcoin into gold coins’ – and this is exactly the service they provide. Using Bullion79, you can purchase silver, gold, or platinum coins and gold bars. You can choose from a variety of items, including a Gold Bullion American Eagle ¼ oz coin or a Krugerrand 1oz Gold Coin. You can also purchase high-quality bars.
The website is easy to use and orders are shipped within 2-6 business days. The payment process is fantastic, and they use the latest security technologies to ensure your Bitcoin transactions are safe.
As you can see, there are many investment opportunities that open up, once you have a sum of Bitcoin or other cryptos. It can easily be used for purchasing gold or other metals: there are plenty of services offering such an opportunity. As gold has long been a safe bet in terms of investment, this could be the perfect way to diversify your portfolio and build a solid future.