How To Buy Gold and Silver with Bitcoin?

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Are you considering buying gold coins or bars? Bitcoin is the ideal option for this type of purchase. Bitcoin normally does not have very large fees for its transactions. Moreover, Bitcoin transactions are usually concluded within ten minutes while banks can take a few days to provide a standard money transfer. Sometimes you can’t afford these conditions or costs. Here, we are going to discuss how digital currency has developed in the field of trading precious metals.

Buying Gold with Bitcoins

Today, Bitcoin is a convenient tool for people who want to invest in gold. This currency has many advantages over dollars or euros, which we have mentioned many times. So how do you start your own gold rush and purchase gold with digital currency?
Well, first, you need to own this cryptocurrency. If you don’t have digital coins, you have to create an online wallet but it’s better to have an account on a trading exchange. Then, you can acquire as many Bitcoins as you need or can afford. Next, you should choose an online shop, which accepts BTCs as a payment method. There are not many websites, which accepts BTC however it’s still a good option if you want to spend your money on gold bullions or silver coins.
To be fair, there are some risks related to using BTC’s in this way instead of websites; which do not accept cryptocurrencies. The first is an issue with anonymity. Bitcoin is known as a good tool if you’re looking for full anonymity but this only works if you follow all the rules of making anonymous transactions with BTC. If you don’t follow these, it’s possible that your information can be traced. Another issue is Bitcoin’s price volatility. Occasionally, its price changes too quickly and you may experience losses due to this. Moreover, its transactions can not be denied. If you buy a silver coin using digital money, they deliver it to you and you then find out that the coin has a flaw, you can not simply deny the transaction and get your money back. You have to connect with a merchant and ask them to send your money back or ask for an improved item. This is a standard process for EBay, for example, but in the case of cryptocurrency, it’s up to your seller. It is more likely you will get it back on EBay or Aliexpress than on websites accepting cryptocurrencies.

Related: Where is the Best Free Bitcoin Cloud Mining?

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Looking for a Shop? Try These Three

There are several websites where you can buy and order precious metals like gold or silver using your online wallet. If you want to purchase gold coins or bars of silver, Bitcoin is a great option.

It is a more profitable option to use than transfers via banks or payment systems like PayPal or Western Union. At least for website owners. Here is a list of Internet shops, which provide a good option for purchasing precious gold and accepts Bitcoins. Compare prices then make the deal.The first in our list is Coaex. Coaex is based in Turkey and accepts not only Bitcoins but also other alternative coins such as Litecoins or Dogecoins. It was founded in 2014 and since that time, has been striving to achieve 100% customer satisfaction. Coaex offers jewellery, gold bars, bullions, silver coins, and other precious metals.Another option is BitGild. This is a large company which offers gold plates and silver coins etc. Their prices are changing every three minutes and this means their rates are very accurate and inline with current market prices. The third option is Vaultoro, an exchange that provides a good service for trading gold and Bitcoins. This trading platform offers you the opportunity to buy gold which is located in a genuine Switzerland bank. You may ask for delivery of your gold to any location or keep them in place as an asset for as long as you wish. They charge a small fee for the transaction, starting at 0.5%. The more you trade the less your fees you pay; down to as low as 0.2% per transaction. This website is not a shop where you can purchase bullion but an exchange where you can invest in gold.

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