How to Buy Gold With Crypto?
Are you wondering if it’s safe to buy gold with crypto?
While it may seem like a risky investment, there are advantages to purchasing gold with cryptocurrency.
In this article, we’ll take an in-depth look into the pros and cons of buying gold with cryptocurrency.
We’ll discuss where you can purchase gold with crypto and whether or not it makes financial sense for you.
Where can you buy gold with crypto?
You have several options when it comes to buying gold with crypto. Bitgild, JM Bullion, APMEX, BGASC, and Crypto Emporium are all reliable sources that accept crypto as a payment method.
These websites offer a variety of gold coins and bars for purchase and provide secure shipping of your order once the transaction is completed.
With so many opportunities available to you, you can easily find the right service to meet your needs for buying gold with crypto.
At Bitgild, you’ll find a wide selection of gold and silver bullion coins and bars. You have the option to buy them using cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Binance Coin, Dash, and more.
They offer popular coins like Britannia, Krugerrand, Maple Leaf, Sovereign, and Philharmoniker. You can also choose from bars made by Heraeus, Valcambi, and Perth Mint.
In addition to cryptocurrencies, Bitgild accepts credit cards and bank transfers. However, there is a $19.95 shipping fee for orders under $1k. For orders above that amount, shipping is free worldwide and insured too!
One great thing about Bitgild is their 100% refund guarantee. If anything goes wrong, you don’t have to worry about investing in gold with crypto here!
JM Bullion is the perfect destination for those looking for a reliable gold bullion dealer with an award-winning shopping experience. It offers low shipping costs of $7.99 on orders below $199. The company has a dedicated customer service team to assist with any inquiries or concerns. Their user-friendly website and easy-to-use mechanics make the shopping experience seamless. JM Bullion also prides itself on transparent pricing and valuable features. They have an extensive collection of coins, bars, jewelry, and gold cards to choose from. One unique feature is their thin gold items that are similar to banknotes. Additionally, JM Bullion accepts Bitcoin as a payment option and offers a 3% discount for using it. Customers can place orders with no minimum requirement and a maximum limit of $500 000. Make sure to check the complete details for the payment methods accepted by JM Bullion before you place an order.
APMEX offers a huge selection of gold bullion coins, bars, and rounds from various mints around the world. It’s one of the most diverse selections you’ll find online – no jewelry though.
With crypto payment options like Bitcoin, Ethereum, Dogecoin, Litecoin and more accepted; plus 4% discounts on bank wire, paper check or eCheck; you can easily purchase any gold or silver product in store. Just note that Bitcoin purchases don’t qualify for this discount.
Plus, you get 15 minutes to transfer funds from your wallet to APMEX’s address with orders up to $400,000 per week allowed. Orders over $199 qualify for free shipping, however if the order’s value is below $199 you will have to pay a $9.95 shipping fee.
Shipping is available worldwide including countries such as US, Canada and Australia making it an excellent choice for those looking to buy gold with crypto.
BGASC is one of the top gold dealers offering a diverse and affordable selection of coins from US Mint Gold Eagles to Gold Buffalos, Canadian Maple Leaf coins, and more.
They also offer:
- Bars: Gold bars in various sizes and weights
- Jewelry: Bracelets, necklaces, rings, earrings
- Other bullion products from countries like Mexico, Armenia, Cameroon, Austria, and Spain.
It’s easy to buy gold with crypto too — BGASC allows orders up to $100K with a 3% discount when paying with BTC or other digital coins.
Shipping is free on orders over $199, and their customer service is highly praised for its quality.
Crypto Emporium is a great option for those looking to invest in luxury items made of gold. It offers a wide selection of jewelry and watches from renowned brands like Rolex and Cartier. It’s more profitable than buying regular gold bullion, as luxury items tend to increase in value over time. Plus, prices are often lower than other stores that primarily sell for fiat currencies.
Crypto Emporium ships worldwide to more than 120 countries, giving buyers even more options. On top of that, they have a rewards program where you can earn points redeemable for their native cryptocurrency — Emporium Cash. And with the addition of staking and trading features soon, users will be able to benefit even further from their tokens.
All this makes Crypto Emporium an excellent choice when looking to buy gold with crypto.
BitPay is a popular place where you can use your crypto to buy gold. They accept more than 15 different cryptocurrencies with the popular ones like Bitcoin, Ethereum and Dogecoin being available.
On BitPay you can benefit from prompt transactions, transparent fees and preferential exchange rates, without the need for currency conversions across borders.
You would just need a Crypto wallet that is supported by BitPay from more than 100 of the most popular ones available on their platform. After you select your wallet, an invoice will be generated and you can scan the QR code, copy and paste the details into your wallet and you are done. As easy as ABC.
Bullion Exchange is an established Precious Metal Retailer located in the Diamond District of New York. They offer not only gold, but also silver, platinum and palladium.
You will receive free shipping on orders above $99 within the US and are able to accept offers during off-market hours, which ensures your ability to lock in pricing during nights, weekends and holidays.
Their customer support is quite trustworthy with a client response time of 1 business day while being able to talk directly to a customer service representative between 9am and 5pm on Monday through Friday.
If you are planning on frequently investing your hard earned crypto, you can benefit from the Bullionaire Club Rewards Program on a regular basis with your Bullionaire Bucks. Of course the more often you make a purchase the bigger the benefit becomes for future orders.
Pros and Cons of buying gold with cryptocurrency
Investing in gold with cryptocurrency may seem like an appealing option, but it’s important to weigh the pros and cons before jumping in.
On the one hand, buying gold with crypto allows for greater liquidity than other methods of investing in gold. In addition, it provides an opportunity to diversify your portfolio without paying high transaction fees or enduring long processing times.
On the other hand, buying gold through cryptocurrency involves more risk than traditional investments as its value can fluctuate greatly due to market volatility. It’s also important to consider how taxes might impact your profits when trading cryptocurrencies.
Buying gold with crypto is an attractive option for many because it offers convenience, speed, security, international currency capabilities, and low transaction fees.
It’s a great way to diversify your portfolio and access a valuable asset with ease.
With the right knowledge and resources at your disposal, you can make informed decisions about how to buy gold with cryptocurrency in an efficient and secure manner.
Using Bitcoin to buy gold is incredibly convenient, as you can make transactions quickly and securely without having to leave your home.
Buying gold with crypto is convenient, but it’s also fast. With no intermediaries involved, Bitcoin transactions have the fastest settlement compared to other payment methods. So if you’re looking for speed, buying gold with crypto is a great way to go.
You can get your hands on your purchase quickly and securely without having to wait days or weeks for processing.
When you use crypto to buy gold, you can rest assured that your transaction is secure. Bitcoin provides protection against identity theft as transactions are never linked to a user’s personal identity and can’t be traced.
- The cryptography infrastructure used by Bitcoin is more secure than banking technology.
- There are additional methods of adding extra security, such as two-factor authentication and multi-signature wallets.
- Most exchanges require users to verify their identities before they can start buying gold with cryptocurrencies, providing another layer of security.
Using crypto to buy gold is a great way to make international purchases without the need for an additional currency conversion. Since bitcoin can be accepted and used by merchants across the globe, you can easily purchase gold with crypto from anywhere in the world.
Plus, with all the security measures in place, you know your transactions will remain secure.
Low transaction fees
Transaction fees for bitcoin payments are incredibly low, making it an attractive option for purchases.
When it comes to buying gold with cryptocurrency, there are a few key cons to consider.
Volatile exchange rate
There are several drawbacks to using crypto for gold purchases:
- Unpredictable prices: Cryptocurrency prices can fluctuate drastically and quickly, making it difficult to know how much money you would need for the purchase.
- Limited availability: Gold purchased with cryptocurrency is usually limited in availability, and may not be available at all times.
Due to its irreversible nature, bitcoin transactions cannot be cancelled or reversed. This means that once a buyer has sent the payment, they can no longer retrieve it and have to trust the receiver to fulfil their end of the deal.
When buying gold with crypto, buyers should make sure they are dealing with a reputable seller who will honour any refund policy in case something goes wrong. It is also important to check if the exchange rate is stable before making any purchase as it could lead to unexpected losses.
Transparency is a key feature of bitcoin transactions. All transfers are publicly visible and traceable on its network. This means that everyone can access your transaction details, such as the amount sent/received and the sender/recipient address. This feature makes it easy to track payments and detect frauds. Additionally, it allows you to verify the legitimacy of any address before making a payment. Your wallet balance is also visible to anyone who knows your bitcoin address. To protect your privacy, you can create multiple wallets or addresses. However, your personal details and contacts are not available in public.
Frequently Asked Questions
What Is the Best Way to Store Gold Purchased With Cryptocurrency?
The best way to store gold purchased with cryptocurrency is in a secure, insured storage facility. Consider using a reputable custodian that specializes in precious metals, as they’ll be able to provide the highest level of security and safety for your investment.
Is There a Minimum Amount of Gold I Need to Purchase When Buying With Cryptocurrency?
No, there’s no minimum. In fact, you can buy as little as 1 gram of gold with cryptocurrency. On average, one ounce of gold costs around $1,917 USD – an amount that is within reach for many crypto investors.
Are There Any Taxes Associated With Buying Gold With Cryptocurrency?
Yes, there may be taxes associated with buying gold with cryptocurrency. Depending on the jurisdiction, you may be liable for capital gains tax or other applicable taxes. Be sure to check the regulations in your area before making any purchases.
Are There Any Risks Associated With Buying Gold With Cryptocurrency?
Yes, there’s huge risk when buying gold with crypto! You could suffer losses due to market volatility, or worse, fraud. Be sure to do your research and use a reputable exchange for maximum safety.
What Are the Different Types of Gold That Can Be Purchased With Cryptocurrency?
You can purchase physical gold such as coins, bars, and jewelry with crypto. You can also buy gold-backed tokens or certificates that represent ownership of the underlying asset.
Buying gold with cryptocurrency can be a great way to diversify your portfolio, but it’s important to weigh the pros and cons.
You need to find an exchange that offers gold trading, determine which cryptocurrency you want to use, and ensure that you have enough crypto in your wallet.
While there may be risks involved, if done correctly, buying gold with crypto can be a lucrative investment.
So before diving into this new world of possibilities, make sure you do your research!
Zornitsa is the Editor-in-chief at Coinlabz. She is involved in researching the impact of blockchain technology and the way crypto is transforming peoples’ perceptions of finances.