Buying gold with Bitcoin the safe way – how to do it step by step?

In some ways, Bitcoin is akin to gold and is even called digital gold by some people. Since the advent of Bitcoin in 2009, it has had a rather tumultuous journey over the past ten years. Although initially, it couldn’t make much of a mark, it witnessed a revival between 2016 and 2017, which rocked the very foundations of investment corporations worldwide. Hitting an all-time high rate of a whopping $19,783 per Bitcoin, everyone recognised irrefutably that this virtual currency would soon dominate over nearly every kind of transactions globally.

As of now, Bitcoin can be used for buying a wide variety of products and services. A vast number of online sellers and merchants have started adopting this cryptocurrency as a form of payment, and those who haven’t are contemplating doing so. This Bitcoin flurry is primarily due to the ease with which users can do Bitcoin transactions. They are fast, safe, and secure.

But why limit yourself to just certain products and services? Why don’t you consider extending the reach of this digital currency towards more untraditional purchases, such as buying gold with Bitcoins? The precious metal, Gold, is among the most sought-after commodities all over the world. Thus, it might be a sound decision to try to purchase some with your Bitcoin as a way of diversifying your cryptocurrency portfolio.

In this write-up, we’ll explain how to buy gold with bitcoin.

Why are people selling their Bitcoin for gold?

Before we start this guide on buying gold with Bitcoin, it’s crucial that you first understand the why.

• Why exactly are we advised to invest in gold?
• Why should you buy gold with Bitcoin?
• Is it just owing to their shiny and dazzling appearance?
• Or does gold have certain hidden benefits that may significantly outweigh those we know already?
• Is it safe to purchase gold with Bitcoin?

Let’s dig a bit deeper to shed light on these questions and others that may crop up in your mind.

Scarcity in supply

Since this precious metal is limited in supply, investing in it may be a wise idea. There have been recent advances in mining techniques all around the world. Different large-scale industries, as well as plants, have been specifically established to extract as much gold as feasible from the earth. In spite of this, its demand far outweighs its supply. For this very reason, a precious metal like gold is often available at higher rates in comparison with other metals in the same category.

No interruption in demand

Nothing in the world, as it is often said, is permanent. But gold seems to be an exception to this rule as its demand has rarely experienced a decline in the last 100s of years. The huge popularity and global appeal of gold keep growing with time, and it has never witnessed a net decrease in sales, unlike other commercial commodities. There is no doubt that fluctuations will always take its toll on business and investments — which is quite natural — however, the general trend with gold trading has consistently been on the positive front. This makes this metal the ideal choice for you as an investor.

Your privacy is protected

Investments could seemingly be seen as a simple enough concept to grasp. However, to truly become a good investor, one has to learn every trick in the trade and get familiar with every one of the basic nuances.

Privacy is one of such concepts and is considered crucial by most people that want to go into investment. An overwhelming number of investors take the confidentiality of their investments seriously. Taking into account that gold is a rare commodity, its dealings are usually private and confidential, making it just about the perfect commodity one can invest in. When you are dealing with this precious metal, you can rest assured that your private information isn’t revealed to any public organisation or the general public. When you buy gold with BTC, the whole thing is sort of encrypted and you can rest assured that the privacy of your investment is protected.

Ease of liquidity

This is another great factor that works well for gold: It can be easily liquefied. In this day and age, we have designed our financial services and schemes to the extent that gold can be converted, almost instantly, into any currency of choice. Regardless of the country that you are resident in or the type of currency you need; receiving instant cash transfer in your bank account for any gold you sell will probably only take just a matter of days.

A viable shield against inflation

Purchasing of gold can pretty serve as a viable shield against inflation. If you happen to purchase a decent quantity of gold now and discover you can buy certain products with the real value of the gold; then, a decade from now, you would still be able to get these same products, with perhaps a decent amount of money left. That’s quite a strong cover against inflation that you can only enjoy by investing in gold, i.e. deciding to sell your bitcoin for gold.

How to buy gold with Bitcoin the easy way?

Having familiarised yourself with the benefits you stand to gain if you engage in btc to gold trading, the next thing is to understand how to go about carrying out gold purchasing with Bitcoins. But first, it is important we outline, at this juncture, the factors that make this cryptocurrency such a great alternative to other more conventional forms of payment. For starters, telling you about the popularity of Bitcoins is merely preaching to the choir.

Bitcoin is currently trading a path to emerge as the single most powerful currency all over the world. In a recent interview with Jack Dorsey, CEO and co-founder of Twitter, he posted that about ten years, Bitcoin could become the single currency throughout the world. That’s quite a bold statement coming from such an influential figure. Apart from this, Bitcoin has introduced revolutionary changes, literally, in making payments all over the globe, due to the ease and convenience it provides for carrying out activities, such as online trading and shopping.

The procedure you need to follow to be able to buy gold with Bitcoins is quite straightforward. Anyone that has even the smallest amount of knowledge concerning crypto trading should be able to do it, and the entire process only lasts a few minutes.

First, you should find a website dealing in gold and accepting Bitcoins as a method of payment. These sites are great for making gold purchases and offer a diverse range of methods for payment, and one of these is via Bitcoins.

Where to purchase gold with Bitcoin?

There are still barriers to processing Bitcoin payments, which is why many companies do not accept it. That’s not the case for Bullion79.com. We are highly ranked on professionalism and quality. We offer users a smooth user experience as ease of shopping.

Buying gold with Bitcoin is simple enough and easy to learn. For starters, you must have Bitcoin. If you do not have bitcoin yet, this will only add an extra step to the gold buying process. What this means is that you will need to get yourself some bitcoin first before proceeding to buy gold. There are platforms that allow users to buy bitcoin using traditional banking methods such as debit cards, ACH transfers and bank wires.

1. Once you have your Bitcoin, simply visit Bullion79.com’s website, add the desired quantity of gold to your shopping cart and proceed to checkout. The main difference in the use of Bitcoin to buy gold lies in the payment option.
2. When using bitcoin to pay for gold, simply send the equivalent amount of bitcoins. You will be provided with the procedure to follow after placing your order and is usually similar to a credit/debit card since the payment is almost immediate.
3. Once you have sent the bitcoin and and it has been received and confirmed; then you are good to go.

In a Nutshell

Indeed, the frenzy associated with precious metals like gold is not going to end anytime soon. Hence, stocking up on them taking advantage of Bitcoin is one thing you don’t want to take for granted. Also, concerning trends with an unrivalled global following, bitcoin is definitely highly ranked in the game.

Thus, you can merge both of these crowd favourites and exploit their combined potentials. The prime time to grab some Bitcoins and use them to buy gold is probably now! Choose from our wide variety of gold coins and gold bars today.