Bitcoin is a digital currency that offers both monetary and commercial advantages. As with physical gold, the price of bitcoin fluctuates based on demand. Bitcoin is also becoming an accepted form of payment for goods and services around the globe, including clothing, food, and travel. But what about investing in gold? Buyers have several options for acquiring physical gold or bitcoin, like buying from an on-site coin shop or over the counter at a bullion dealer where you can find gold coins, bars, and rounds. Gold has been a store of value and payment for thousands of years. Initially, gold was used to pay back debts if you failed to fulfill your obligations. This practice became one of the first forms of barter, known as the gold standard. The gold standard eventually ended in the early 1900s with the formation of various global currencies now accepted around the globe, such as the United States dollar or Great Britain pound.
Physical gold is easy to buy with bitcoin if you find a reputable dealer. You can buy gold with bitcoins or shop for the best gold and bitcoin prices at the New Liberty Dollar or Open Transactions marketplace. The New Liberty Dollar offers customers a wide selection of gold bullion and coins from around the world on its retail site. One of the leading marketplaces for physical gold is APMEX which has an online catalog of all types of gold bullion, including numismatic, modern, and ancient coins and bars. Another popular online dealer is Apmex.
2. Proceed to checkout and select “Cryptocurrency” as your form of payment
You can also use bitcoin to purchase gold, silver, and platinum coins and bars on your mobile device. Coinabul is a trusted marketplace where you can purchase gold bullion using bitcoin from brick-and-mortar locations in Baltimore, Maryland. Coinabul is an online bullion dealer that ships products all over the world. You can also use bitcoin to buy precious metals from GoldMoney, a respected electronic bullion dealer that offers a comprehensive inventory of gold bars and coins worldwide.
3. Pay your invoice using BitPay
Bitcoin offers advantages for customers who want to make secured purchases. Bitcoin payments are irreversible, and once you’ve paid, you can access your bitcoin. On the other hand, credit card purchases can be challenged. Bitcoin payments also eliminate the threat of identity theft, as one would not need to enter a credit card number or bank account details to complete a purchase. You may use bitcoin online or in person at any of the businesses listed above.
4. Ship to a physical address
The best way to start investing with bitcoin is to go out and find the best gold dealer. Once you have a dealer, you can purchase your gold in person or by sending a wire transfer. If you live in the U.S., you can buy gold bullion by visiting a warehouse coin shop like APMEX, New Liberty, or Apmex (if they accept Bitcoin). Delivering your precious metals usually takes 10-14 days if it is an everyday store.
5. Prudence
When buying gold with bitcoin, use the same prudence as you would when purchasing gold with cash or a credit card. Make sure you research a seller before purchasing to ensure they are reputable. While bitcoin payments may offer protections that other forms of payment do not, you should still use the same due diligence in your purchases. In addition, it’s always a good idea to test out smaller purchases before making larger purchases with precious metals.
6. Be a PeerTrader
Bitcoin offers advantages for customers who want to make secured purchases. Bitcoin payments are irreversible, and once you’ve paid, you can access your bitcoin. On the other hand, credit card purchases can be challenged. Bitcoin payments also eliminate the threat of identity theft, as one would not need to enter a credit card number or bank account details to complete a purchase. You may use bitcoin online or in person at any of the businesses listed above.
7. Bitcoin Wallet
To Get a Bitcoin Wallet, you can use one of the many exchange services available: Coinbase, Circle, Bitpay, or Xapo. You can also create a wallet by downloading the software on your personal computer and storing it on your computer’s hard drive. One must also ensure you back up this software.
8. Register an Account with Merchant
With a bitcoin wallet, you can purchase gold using bitcoin through online merchants who accept bitcoins. If you need help determining where to purchase gold with bitcoin, click on the links above in the article for some of the top places to buy physical gold and silver with bitcoin.
9. Scanning the QR Code
One way to purchase gold with bitcoin is by scanning your wallet’s QR code. There are also online wallets that you can use to check your balance or send bitcoin directly to a merchant. You can scan the QR code to check your balance and transfer funds through the wallet service provider.
10. Sending a payment
To send the payment, you must enter your Bitcoin address, name, and email address. The amount you send will depend on the item’s price, which is given in bitcoin. You can also choose to send a payment using BitPay. You can also use Bitpay’s Bitcoin debit card, which allows you to spend bitcoin online or at merchants who accept bitcoins as a form of payment.
Above are ways through which you can buy gold with Bitcoin. So be aware of your options before you make a purchase. It is essential to know the proper way to use each service so that you can fully enjoy the benefits that come with it. It is necessary to remember how you will use your bitcoin before making a purchase such as gold with it. If you are traveling somewhere, a prepaid travel credit card is ideal for online purchases on the go because it offers higher rates of exchange and does not lock you into any long-term commitment.
