So you wanna buy precious metals, such as gold using Bitcoin and other Cryptocurrencies?
Unlike Fiat, Gold cannot be printed out of thin air, it is scarce, durable, and has been considered the store of wealth for centuries. And contrary to what the mainstream media makes you believe, looking back for the last twenty years, gold has actually been one of the best-performing assets in the whole world.
This is why when cashing out Bitcoin profits, a lot of people tent to seek the security of precious metals as well.
Can I buy gold using Bitcoin directly?
The answer to this question is of course you can!
And to get started buying gold, silver and other precious metals using Bitcoin has actually never been easier.
In fact, there are multiple bullion dealers who accept Bitcoins, and each day more people and companies are joining the cryptocurrency revolution.
And if you are an active crypto enthusiast with access to multiple different cryptocurrencies, you can stills swap some of those holdings into precious metals using some of the services below. The real question however is do you want to buy Paper Gold or Physical Gold?
Buy paper gold with Bitcoin
The term paper gold simply means that you have an online account that enables you to invest in gold without having to possess the physical bullion. This means you don’t own the physical gold. You own a piece of paper or an account that promises that your physical gold exists somewhere in a vault. Buying paper gold can be extremely convenient if you, for example, don’t want to store and secure the gold yourself.
Bitpanda allows you to diversify your portfolio on digitized precious metals with ultra-low fees.
The exchange allows you to buy, sell and store physically-backed gold, silver, palladium, and platinum tokens. These tokens represent precious metals which are 100% insured and safely stored within a secure vault in Switzerland.
Bitpanda offers storage and insurance for precious metals with a lot cheaper rate than it usually goes, however, there is still a small storage fee of 0.0125% to up to 0.025% per week depending on which metal you are storing.
The premium for buying and selling gold is 0.5% and for other metals can go up to 2.5%.
The precious metals are also duty-free, meaning there is no VAT, you can also exchange the metals with any other digital assets on the platform or set automatic savings plan which can automatically purchase precious metals regularly
To get started with Bitpanda you will start by registering using your email and password, from there you will have to confirm your email, and verify your account.
After you have verified the account, you are all set. Bitpanda offers a 0% insurance and storage premium for the first 20g of gold, palladium, platinum, and the first 200g of silver you buy.
Vaultoro lets you instantly exchange between Bitcoin and Gold anytime you want.
The Vaultoro platform provides seamless, simple and stylish world’s first real-time Bitcoin to Gold exchange. The beauty of this exchange is that users can switch back and forth between Bitcoin and Gold within seconds making it incredibly simple to hedge your cryptocurrency profits from inflation and volatility.
All Vaultoro Gold is secured and insured within top-tier Switzerland facilities, and the Gold is also duty-free, meaning no VAT. The platform has transparent and tiny commissions for market takers. And a small storage fee for real physical gold. On top of all this, they give anyone the ability to verify the full reserves at any point in time.
To get started buying gold with Bitcoin on Vaultoro platform, all you have to do is to register, verify your account and deposit BTC directly to your Vault. You can then exchange your Bitcoin for Gold assets at any moment, the gold can also be exchanged back to Bitcoin instantly.
At the time of writing, Vaultoro is going through construction and has ongoing fundraising where users can own a piece of the company itself.
OneGold is fresh gold bullion dealer offering both digital products, and physical deliveries.
Users can at any point in time reedem their digital products for physical gold coins and bars delivered straight to their doors.
The platform lets you purchase with any quantity, it is fully insured, and audited, with 100% metal backing.
OneGold also has some of the lowest prices in the industry and it is working together in a unique partnership between two of the world’s most notable precious metal businesses in the industry: (Apmex & Sprott).
OneGold accepts all the regular payment methods such as ACH, Bank Wires, Credit Cards, Paypal, and even personal checks, and Bitcoin!
Buy physical gold with Bitcoin
If you are looking to purchase precious metals as a hedge against an economic downturn, or a black-sawn event, then physical bullion is definitely one of the safest investments in the world.
BullionStar is well established Gold & Silver Bullion dealer that has both physical and online presence.
Based on Singapore, BullionStar has a variety of bullion products from coins, and bars to all kinds of different jewelry and numismatics.
The company has a long-standing presence both online and physical and has been accepting Bitcoin and other cryptocurrencies such as Bitcoin Cash, Ethereum and Litecoin since 2014, making them one of the earliest bullion dealers doing so in the whole world.
Unlike most bullion dealers, BullionStar customers can also view all product prices, spot prices, charts, account history, and the Cash & Bullion Dashboard in these different cryptocurrencies making it super cool and easy for anyone interested in purchasing precious metals using Cryptocurrencies.
To pay with cryptocurrencies, users will automatically receive a unique payment address based on the currency of their choice. The user will also receive an e-mail confirmation, which to use to initiate the payment, the payment must be made within 20 minutes. However it’s important to note, bullionStar cannot be held responsible for incorrectly stated cryptocurrency payments, so make sure you use reasonable fees and pay in a timely manner.
One of the most impressive features of BullionStar is still their walk-in retail storefronts, which you can visit without even needing an appointment. You can carry in as much has cash as you want, make your purchases, and move on. The storefront also includes an impressive physical BullionStar Vault Storage.
That being said, Singapore is well known as one of the best places in the whole world for storing bullion, there are no bullion taxes, no reporting requirements, and with strong laws regarding property and ownership, it is definitely one of the most favorable places on earth.
MoneyMetals is a fast-growing precious metals exchange in the United States.
This platform offers low prices and fast deliveries with all the orders shipped within 48 hours after the payment is made.
MoneyMetals has everything from gold, and silver bars to coins and other accessories. They accept the typical old payment methods and variety of cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dash.
On top of buying and selling precious metals, MoneyMetals also offers unique opportunities such as the ability to create monthly gold and silver savings plans.
Bitgild is one of the largest crypto focused bullion dealer in the European union.
Based in the Netherlands, and being part of the Dutch Chamber of Commerce, Bitgild is a reliable and affordable bullion dealer with a great reputation in business since 2013.
Bitgild offers a variety of different Gold and Silver coins and bars in a range of weights and editions. Not only that, but it also provides extremely fast insured worldwide shipping, and accepts a number of cryptocurrencies including Bitcoin, Ethereum, Litecoin, Dash, and many more
On top of all that Bitgild is also able to provide VAT FREE silver for EU customers with its margin scheme products, this means coins and bars can be very attractive to investors looking to buy cheap silver bullion.
With many years in experience, Bitgild is definitely one of the best choices for you to secure your Bitcoin holdings into something physical.
Related & Notes
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