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Buying Gold with Bitcoin

January 10, 2019 02:44:01

Bitseven.com - One of the safest investment methods throughout the time was and still is gold. People were always attracted to shiny stuff and knowing that it is obviously not an unlimited supply there will be demand for it without a doubt. If comparing to the standard stock market, it might be always a gamble investing into stocks and you can lose most of your holdings in an instant. While the Gold had been always a reliable investment and you can be rest assured for no sudden drop of its price. Still, gold is probably not the investment for making profit quick, however it is surely a good choice in a long run strategy. Now with the rapid introduction of cryptocurrencies into our lives we have a new alternative way for purchasing gold.


How to buy Gold using Bitcoin?


Nowadays it is pretty easy and convenient buying gold with different cryptocurrencies, but today we’ll talk about how to purchase gold with Bitcoin. Before talking about purchasing process let’s make a small parallel between Bitcoin and Gold. In several past years due to its fast rising Bitcoin was often compared to Gold and sometimes is named as “digital gold”. There are a lot of similarities, both are mined – one literally, the other digitally, both are finite and seen as a store of value. So if you have Bitcoin in your portfolio, you might also think about adding gold into it. And another reason for looking into this opportunity is the recent decline of all cryptocurrencies including Bitcoin. This might ensure in cutting potential losses considering the stability of the gold market.

So what is the reason for using Bitcoin to buy gold? The main benefit of using cryptocurrencies including Bitcoin is that the transaction can be made without third party involvement and with the rather low fees, however this advantage also means adding more security vulnerabilties during transactions. As the industry keeps growing there are many more advanced services for protecting your wallets, so you’re pretty safe for using this payment method. Basically the payment process is the same as for the standard exchange – instead you will be using Bitcoin.

So where can you purchase Gold for Bitcoin? We want to share a couple of the most known such services below:


1) Vaultoro


Vaultoro is one the best and respectable metal selling platform. This company specializes in asset management for precious metals. Their management team has extensive experience both in the stock and cryptocurrency markets.

Vaultoro specializes exclusively in Bitcoin-Gold transactions. They are even providing their storage vault located in Switzerland for securing your purchased metal.



2) Bitgild


Bitgild is one of the largest European internet shops that sells various types of precious metals such as gold, silver and platinum. It is an old renown company and they gained a good reputation for selling metals through many years. Recently they added the support for paying with cryptocurrencies including Bitcoin.

Their website has really simple interface so it is really easy to use. They are making secure deliveries worldwide with rather low commissions.


3) Bullion79


Another good alternative for purchasing Gold via Bitcoin. Their service is basically described as ‘Turn Bitcoin into gold coins’. They are providing great security measures – each transaction takes extra step to protect your investment. They also offer a gold buyback service to show their policy “In Gold We Trust”.

They also provide fast shipping and have very user-friendly interface.


To sum up, Gold had lived through many different periods that have completely changed economy, but it still stays strong as one of the main unit value. So if you are disappointed in recent drops of Bitcoin, Gold is still the safest bet for making your investments.


Category: News

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