How to buy gold and silver with Bitcoin and other cryptocurrencies
Buying gold and silver bullion with bitcoin or other cryptocurrencies is a great way to diversify your portfolio and limit the risk and volatility often found in the crypto market. So here is our guide on how to buy gold and silver with crypto.
Gold has proven itself as one of, if not the most stable investments out there; it will provide you with security that no other asset can offer.
Silver also has the key advantages of being an inflationary asset, a monetary metal, a key part of the green revolution and is currently historically undervalued.
The key advantages of buying gold and silver with cryptocurrency:
Cryptocurrencies markets are extremely volatile right now, which is great for short term gains, but also a major risk if buying with a long-term investment strategy in mind.
Gold has been proven as one of the most stable assets in history; it provides a sense of security no other asset can offer, including crypto assets.
It’s relatively easy to purchase and sell gold and silver with cryptocurrencies as compared to traditional markets.
The physical asset provides a sense of security no other digital asset can provide; it’s tangible and therefore has actual value in most cases.
Image by WorldSpectrum on Pixabay
The key disadvantages of buying gold and silver with crypto:
Determining the correct price when buying gold or silver with crypto can be challenging.
You usually pay a small premium in order to buy the precious metals with cryptocurrency.
Is buying gold and silver with cryptocurrency the right choice for you?
Some key tips in determining if purchasing gold and silver using cryptocurrencies is the right choice for you:
Do you believe that inflation will become a major problem in the next few years? This is not a crazy idea as it has happened hundreds of times before in history.
Do you believe that a major economic crisis may occur within the next few years, and do you want to hedge your bets against that risk? If so, then gold and silver are great choices to consider.
Are you concerned about the volatility of cryptocurrencies and want to limit your risk with a more stable asset? If so then gold and silver are great choices to consider.
Do you like owning something physical, rather than simply holding digital assets which can be hacked and stolen from exchanges?
If you answered yes to any of these questions, then purchasing gold and silver with cryptocurrencies is a great choice for you!
As mentioned above, when purchasing gold and silver with cryptocurrency there is a premium attached to the transaction.
This can be explained when looking at it from larger perspective: You are not simply purchasing gold or silver, but rather investing in a physical, tangible asset with thousands of years of history.
There will always be an associated risk with this, but there are also significant advantages to purchasing physical gold and silver.
If you prefer to buy from a more traditional bullion dealer then there are also many companies that will allow you to purchase directly from them, such as BullionStar.
Inflation is looking like it will become a problem in the next few years, so hedging your bets against this risk is a great strategy if purchasing gold and silver with cryptocurrency.
So how do you actually buy gold and silver with crypto?
Online bullion dealers such as BullionStar accept Bitcoin, Bitcoin Cash, Litecoin, and Ethereum as cryptocurrency payment for its gold and silver bullion products.
For crypto fans, you can also view product prices, spot prices, charts, account history and more in these cryptocurrencies.
How to buy gold and silver with crypto in simple steps.
10 Grams of FREE Silver on Sign up! Visit BullionStar
Using BullionStar as an example of a trusted dealer that accepts crypto payments, we have put together a step by step guide of how to buy gold and silver with crypto.
Step one:
Open an account with BullionStar. This is a quick and easy process and you can receive 10grams of free silver so it’s a no brainer.
Step two:
You can now pay with cryptocurrency! Bitcoin, Bitcoin Cash Litecoin and Ethereum – yey!
Step three:
Click on the category you want, such as gold coins or silver bars for example, to see prices denominated exclusively in Bitcoin or whichever cryptocurrency you have chosen.
Step four:
Fill in the amount to the left of the “Add to Cart” button and click “Add to Cart” to add your preferred product to the Shopping Cart.
10 Grams of FREE Silver on Sign up! Visit BullionStar
Step five:
The item is now in your cart! You can either continue shopping or go to the checkout by clicking on “Proceed To Checkout.”
Step six:
Your chosen cryptocurrency will be selected as your payment option by default during the checkout process.
Choose a delivery method and, if necessary, fill in or edit your customer information.
If you’re ordering Vault Storage for the first time, you’ll be asked to choose a PIN number, which will be required for any subsequent transactions.
If your PIN code was already selected, enter it under “Account Verification” if prompted. To indicate that you agree to the Terms & Conditions and that your order is binding, tick the checkboxes.
Then select “Place Your Order” from the drop-down menu.
Step seven:
The order confirmation page will appear.
Your ordered products, customer information and the cryptocurrency payment information can be found on this page – such as how much you paid in bitcoin or Ethereum for example.
Your e-mail address is also used to send the order confirmation.
On the order confirmation page and in the order confirmation e-mail, you will see the unique bitcoin address to which you must make your cryptocurrency payment within 20 minutes.
Done!
You will receive a confirmation of the payment received order status by e-mail and SMS text message as soon as the cryptocurrency transaction has been confirmed.
Congratulations!
You have successfully bought gold and silver with crypto!
If you’re looking for a reliable company to buy precious metals like gold and silver from, then BullionStar is a great place to start.
BullionStar is one of the few companies that accepts cryptocurrency as payment for buying physical gold and silver bullion products.
They make the process of buying gold with crypto simple and easy.
Quick roundup.
Can I buy gold and silver using crypto?
Yes, more and more bullion dealers are now offering crypto payment services as an option upon checkout.
Is there minimum or maximum amount allowed for Bitcoin or other crypto payments?
At BullionStar for example, payments in Bitcoin, Bitcoin Cash, and Litecoin have no minimum buy or sell amount.
For Ethereum payments, the minimum buy and sell amount is ETH 0.5.
For BTC, BCH, LTC, and ETH, the maximum amount for buy and sell orders is presently equivalent to around £800K per transaction.
However, if you want to settle an order for a higher sum you can contact the dealer directly.
Is it legal to buy gold and silver with crypto?
The idea of using cryptocurrency to buy precious metals has been gaining traction as more and more people adopt it.
It’s not uncommon for dealers in countries like the UK or Singapore for example, where gold can be purchased with bitcoin legally (depending on local laws), but always make sure before you purchase.
Can I sell my gold and silver and get paid in Bitcoin or other crypto’s?
Yes!
At BullionStar for example, it’s easy to exchange your gold for Bitcoin, Bitcoin Cash, Ethereum, or Litecoin.
Simply choose the coin you want to sell and enter your crypto address on the sale checkout page.
Conclusion.
Bitcoin and other cryptocurrencies have become a more and more popular way to purchase gold and other precious metals, with many businesses now accepting it as a form of payment.
Its numerous benefits means that bitcoin and cryptocurrency in general are rapidly becoming adopted by more people around globe, including bullion dealers who want instantaneous access without any additional fees or delays due their location in countries where they operate.
10 Grams of FREE Silver on Sign up! Visit BullionStar
Main image by WorldSpectrum on Pixabay.
Post navigation